N-Q 1 form928.htm QUARTERLY REGISTRANT form928

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-3757

DREYFUS CALIFORNIA TAX EXEMPT BOND FUND, INC. 
(Exact name of Registrant as specified in charter)

c/o The Dreyfus Corporation 
200 Park Avenue 
New York, New York 10166 
(Address of principal executive offices) (Zip code) 
 
Mark N. Jacobs, Esq. 
200 Park Avenue 
New York, New York 10166 
(Name and address of agent for service) 
 
Registrant's telephone number, including area code: (212) 922-6000 

Date of fiscal year end:    5/31 
Date of reporting period:    8/31/04 


FORM N-Q

Item 1. Schedule of Investments.

Dreyfus California Tax Exempt Bond Fund, Inc.    August 31, 2004 ( Unaudited) 
Statement of Investments         
 
 
Long-Term Municipal Investments--97.3%    Principal     
    Amount ($)    Value ($) 
California-87.2%         
 
Anaheim Public Finance Authority, Tax Allocation Revenue     
6.45%, 12/28/2018 (Insured; MBIA)    20,000,000    22,834,800 
 
California:         
Economic Recovery:         
5.25%, 7/1/2013    30,000,000    33,921,600 
5%, 7/1/2016    12,000,000    12,840,240 
Various Purpose         
5%, 12/1/2031    15,000,000    15,306,450 
 
California Department of Veteran Affairs,         
Home Purchase Revenue:         
5.50%, 12/1/2019    9,905,000    10,502,965 
5.20%, 12/1/2028    10,000,000    10,029,900 
 
California Department of Water Resources,         
Power Supply Revenue:         
3.50%, 5/1/2007 (Insured; MBIA)    10,160,000    10,573,817 
5.875%, 5/1/2016    10,000,000    11,400,200 
5.375%, 5/1/2018 (Insured; AMBAC)    23,085,000    25,452,828 
 
California Health Facilities Financing Authority,         
Revenue:         
(Cedars-Sinai Medical Center)         
6.125%, 12/1/2030    27,695,000    29,653,590 
Health Facility (Adventist Health System/West)         
5%, 3/1/2033    3,500,000    3,465,875 
(Sutter Health)         
5.35%, 8/15/2028 (Insured; MBIA)    3,780,000    3,927,344 
 
California Housing Finance Agency:         
MFHR         
6.30%, 8/1/2026 (Insured; AMBAC)    7,130,000    7,373,062 
Single Family Mortgage:         
6.25%, 8/1/2014 (Insured; AMBAC)    435,000    445,101 
6.30%, 8/1/2024    1,435,000    1,483,431 
6.45%, 8/1/2025    1,690,000    1,716,770 


California Pollution Control Financing Authority,             
PCR:             
9.941%, 6/1/2014    24,165,000    a,b    32,811,479 
(Southern California Edison Co.):             
2%, 3/1/2006    30,000,000        29,871,000 
6.40%, 12/1/2024    12,600,000        12,674,214 
 
California Public Works Board, LR:             
(Department of Corrections, Calipatria State Prison,             
Imperial County)             
6.50%, 9/1/2017 (Insured; MBIA)    13,000,000        16,157,180 
(Department of General Services-Capital East End             
Complex):             
5%, 12/1/2012 (Insured; AMBAC)    7,275,000        8,104,204 
5.25%, 12/1/2019 (Insured; AMBAC)    10,000,000        10,830,200 
(Various University of California Projects):             
5.50%, 6/1/2014    5,000,000        5,661,600 
6.375%, 10/1/2019 (Prerefunded 10/1/2004)    7,775,000    c    7,963,932 
 
California State University, Fresno Association Inc.,             
Auxiliary Organization Event Center Revenue:             
6%, 7/1/2022    3,500,000        3,686,375 
6%, 7/1/2026    2,500,000        2,594,700 
6%, 7/1/2031    5,250,000        5,372,797 
 
California Statewide Communities             
Development Authority:             
COP:             
(The Internext Group)             
5.375%, 4/1/2030    20,000,000        18,880,400 
Revenue:             
(Kaiser Permanente):             
2.30%, 5/1/2007    10,000,000        9,989,100 
5.50%, 11/1/2032    13,500,000        13,794,435 
(Sutter Health)             
5.50%, 8/15/2028    14,000,000        14,524,160 
(The California Endowment):             
5%, 7/1/2028    15,360,000        15,739,238 
5%, 7/1/2033    16,710,000        17,098,340 
5%, 7/1/2036    14,355,000        14,670,810 
 
Central California Joint Powers             
Health Financing Authority, COP             
(Community Hospitals of Central California)             
5.75%, 2/1/2031    15,000,000        15,120,600 


Community Facilities District Number 2003-1         
of the County of Orange (Ladera Ranch)         
Series A of 2004 Special Tax Bonds:         
5.60%, 8/15/2028    3,250,000    3,296,735 
5.625%, 8/15/2034    3,500,000    3,556,490 
 
Delano, COP (Delano Regional Medical Center)         
5.25%, 1/1/2018    10,000,000    9,696,300 
 
Fontana, Special Tax         
5.25%, 9/1/2017 (Insured; MBIA)    10,000,000    10,955,200 
 
Fontana Public Financing Authority,         
Tax Allocation Revenue         
(North Fontana Redevelopment Project)         
5.50%, 9/1/2032 (Insured; AMBAC)    13,800,000    14,659,464 
 
Fremont Union High School District         
5.25%, 9/1/2025 (Insured; FGIC)    11,295,000    11,775,263 
 
Fresno, Sewer Revenue         
5.25%, 9/1/2019 (Insured; AMBAC)    12,400,000    14,053,044 
 
Golden State Tobacco Securitization Corp.,         
Enhanced Tobacco Settlement Asset-Backed Bonds:     
5%, 6/1/2043 (Insured; AMBAC)    10,000,000    10,074,000 
5.50%, 6/1/2043    5,000,000    5,137,550 
 
Kaweah Delta Health Care District, Revenue         
6%, 8/1/2034    5,000,000    5,322,150 
 
Los Angeles, GO         
5%, 9/1/2016 (Insured; MBIA)    11,670,000    12,724,385 
 
Los Angeles Harbor Department, Revenue         
6%, 8/1/2012    8,900,000    9,553,260 
 
Los Angeles Unified School District         
5.75%, 7/1/2017 (Insured; MBIA)    10,135,000    12,041,698 


Merced Union High School District:             
Zero Coupon, 8/1/2023 (Insured; FGIC)    2,500,000        965,175 
Zero Coupon, 8/1/2024 (Insured; FGIC)    2,555,000        921,767 
 
Northern California Power Agency, Revenue             
(Hydroelectric Project Number 1):             
7%, 7/1/2016 (Insured; AMBAC) (Prerefunded 1/1/2016)    670,000    c    868,414 
5.125%, 7/1/2023 (Insured; MBIA)    3,500,000        3,618,650 
7.50%, 7/1/2023 (Insured; AMBAC) (Prerefunded 7/1/2021)    375,000    c    513,495 
 
Oakland Unified School District             
5.25%, 8/1/2024 (Insured; FGIC)    17,275,000        18,300,271 
 
Public Utilities Commission of the City and County             
of San Francisco, Clean Water Revenue:             
5%, 10/1/2012 (Insured; MBIA)    23,095,000        25,811,434 
5%, 10/1/2013 (Insured; MBIA)    22,195,000        24,665,082 
 
Rancho Mirage Joint Powers Financing Authority, Revenue             
(Eisenhower Medical Center)             
5.625%, 7/1/2029    10,000,000        10,311,500 
 
Sacramento County, Airport System Revenue             
6%, 7/1/2017 (Insured; MBIA)    5,850,000        6,310,220 
 
Sacramento County Sanitation District             
Financing Authority, Revenue             
5%, 12/1/2027 (Insured; AMBAC)    19,330,000        19,688,765 
 
Sacramento Municipal Utility District,             
Electric Revenue:             
6.50%, 9/1/2013 (Insured; MBIA)    6,930,000        8,336,166 
5%, 11/15/2014 (Insured; MBIA)    5,000,000        5,538,300 
5.20%, 7/1/2017 (Insured; MBIA)    300,000        324,096 
 
San Bernardino County, COP             
(Capital Facilities Project)             
6.875%, 8/1/2024    5,000,000        6,498,550 
 
San Diego County Water Authority,             
Water Revenue, COP             
5%, 5/1/2032 (Insured; MBIA)    10,000,000        10,141,200 
 
San Joaquin Hills Transportation Corridor Agency,             
Toll Road Revenue             
Zero Coupon, 1/15/2032 (Insured; MBIA)    38,690,000        8,797,332 
 
San Jose Financing Authority, LR             
(Civic Center Project)             
5%, 6/1/2032 (Insured; AMBAC)    30,015,000        30,399,492 
 
San Juan Unified School District:             
Zero Coupon, 8/1/2023 (Insured; FSA)    10,030,000        3,872,282 
Zero Coupon, 8/1/2024 (Insured; FSA)    10,655,000        3,844,004 


Southeast Resource Recovery Facility Authority, LR:             
5.25%, 12/1/2016 (Insured; AMBAC)        11,715,000        12,966,045 
5.25%, 12/1/2017 (Insured; AMBAC)        6,475,000        7,139,983 
5.25%, 12/1/2018 (Insured; AMBAC)        7,585,000        8,345,472 
 
Tamalpais Union High School District                 
5%, 8/1/2028 (Insured; FSA)        9,900,000        10,124,829 
 
Tustin Unified School District, Special Tax                 
(Senior Lien-Community Facilities District    97)             
5%, 9/1/2038 (Insured; FSA)        10,000,000        10,101,800 
 
University of California, Revenue (Multi Purpose)             
5.25%, 9/1/2027 (Insured; MBIA)        31,475,000        32,553,019 
 
Walnut Energy Center Authority, Revenue                 
5%, 1/1/2034 (Insured; AMBAC)        15,600,000        15,825,576 
 
West Basin Municipal Water District, Revenue, COP:             
5.25%, 8/1/2014 (Insured; MBIA)        5,000,000        5,595,600 
5.25%, 8/1/2015 (Insured; MBIA)        5,000,000        5,561,800 
 
Whittier Health Facility, Revenue                 
(Presbyterian Intercommunity Hospital)                 
5.75%, 6/1/2031        10,090,000        10,458,588 
 
U.S. Related--10.1%                 
 
Commonwealth of Puerto Rico, Public Improvement             
5.50%, 7/1/2016 (Insured; MBIA)        11,830,000        13,836,486 
 
Commonwealth of Puerto Rico                 
Infrastructure Financing Authority,                 
Special Tax Revenue:                 
5.50%, 10/1/2032        10,000,000        10,810,700 
5.50%, 10/1/2040        30,000,000        32,348,400 
 
Puerto Rico Housing Finance Authority                 
(Capital Fund Program)                 
5%, 12/1/2015        11,615,000        12,640,837 
 
Puerto Rico Public Buildings Authority,                 
Government Facilities Revenue                 
5%, 7/1/2012        29,850,000        32,893,208 
 
Total Long - Term Municipal Investments             
(cost $947,616,188 )                990,246,814 
 
Short-Term Municipal Investments--1.0%             
 
California Department of Water Resources,             
Power Supply Revenue, VRDN                 
1.34% (LOC; Bayerische Landesbank)        7,000,000    d    7,000,000 
 
California Pollution Control Financing Authority,             
PCR, VRDN (Pacific Gas and Electric)                 
1.35% (LOC; Banque Nationale de Paris)        2,500,000    d    2,500,000 
 
Total Short-Term Municipal Investments             
(cost $9,500,000)                9,500,000 
 
Total Investments (cost $957,116,188)        98.3%    999,746,814 
 
Cash and Receivables (Net)        1.7%    17,697,318 
 
Net Assets        100.0%    1,017,444,132 


Notes to Statement of Investments:
a Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to 
qualified institutional buyers. At August 31, 2004, this security amounted to $32,811,479 or 3.2% of net assets. 
b Inverse floater security-the interest rate is subject to change periodically. 
c Bonds which are prerefunded are collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on the municipal 
issue and to retire the bonds in full at the earliest refunding date. 
d Securities payable on demand. Variable interest rate - subject to periodic change. 
e At August 31, 2004, 25.1% of the fund's net assets are insured by MBIA. 
f Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi 
annual reports previously filed with Securities and Exchange Commission on Form N-CSR. 


Item 2. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3.    Exhibits. 
 
(a)    Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) 
under the Investment Company Act of 1940. 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

DREYFUS CALIFORNIA TAX EXEMPT BOND FUND, INC.

By:    /s/ Stephen E. Canter 
    Stephen E. Canter 
    President 
 
Date:    October 14, 2004 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:    /s/ Stephen E. Canter 
    Stephen E. Canter 
    Chief Executive Officer 
 
Date:    October 14, 2004 
 
By:    /s/ James Windels 
    James Windels 
    Chief Financial Officer 
 
Date:    October 14, 2004 
 
 
EXHIBIT INDEX
 
    (a) Certifications of principal executive and principal financial officers as required by Rule 30a- 
    2(a) under the Investment Company Act of 1940. (EX-99.CERT) 

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