NPORT-EX 2 FCTFT.htm
Not
FDIC
Insured
May
Lose
Value
No
Bank
Guarantee
CAT-Q1PH
See
Notes
to
Statement
of
Investments.
1
Statements
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
2
Notes
to
Financial
Statements
17
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited),
March
31,
2021
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
Quarterly
Statement
of
Investments
See
Notes
to
Statement
of
Investments.
2
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
97.8%
California
96.9%
ABAG
Finance
Authority
for
Nonprofit
Corp.
,
Covia
Communities
Obligated
Group,
Revenue,
2011,
Refunding,
5.25%,
7/01/22
.
$
2,400,000
$
2,429,404
Jackson
Laboratory
(The),
Revenue,
2012,
ETM,
5%,
7/01/21
................
1,000,000
1,011,699
Jackson
Laboratory
(The),
Revenue,
2012,
ETM,
5%,
7/01/22
................
820,000
869,522
Jackson
Laboratory
(The),
Revenue,
2012,
Pre-Refunded,
5%,
7/01/23
.........
460,000
487,781
Jackson
Laboratory
(The),
Revenue,
2012,
Pre-Refunded,
5%,
7/01/24
.........
1,000,000
1,060,393
Odd
Fellows
Home
of
California,
Revenue,
2012A,
California
Mortgage
Insured,
5%,
4/01/23
........................................................
1,000,000
1,090,543
Odd
Fellows
Home
of
California,
Revenue,
2012A,
California
Mortgage
Insured,
5%,
4/01/24
........................................................
1,000,000
1,089,564
a
Align
Affordable
Housing
Bond
Fund
LP
,
Breezewood
2019
LP
,
Revenue
,
144A,
2020-3
TR
,
A
,
2.625
%
,
8/01/25
.............................................
14,300,000
14,204,027
Antelope
Valley
Community
College
District
,
GO
,
2014A
,
Pre-Refunded
,
5
%
,
8/01/25
4,210,000
4,869,665
Bay
Area
Toll
Authority
,
Revenue
,
2012F-1
,
5
%
,
4/01/22
......................
15,000,000
15,726,291
California
Affordable
Housing
Agency
,
Butte
County
Housing
Authority
,
Revenue
,
2020
A
,
2
%
,
10/01/35
...................................................
500,000
483,629
California
Community
College
Financing
Authority
,
NCCD-Orange
Coast
Properties
LLC,
Revenue,
2018,
5%,
5/01/32
............
1,750,000
1,896,044
NCCD-Orange
Coast
Properties
LLC,
Revenue,
2018,
5%,
5/01/33
............
600,000
646,969
NCCD-Orange
Coast
Properties
LLC,
Revenue,
2018,
5%,
5/01/35
............
3,040,000
3,260,397
NCCD-Orange
Coast
Properties
LLC,
Revenue,
2018,
5%,
5/01/37
............
1,600,000
1,706,804
NCCD-Orange
Coast
Properties
LLC,
Revenue,
2018,
5%,
5/01/38
............
1,320,000
1,404,757
California
County
Tobacco
Securitization
Agency
,
Revenue,
Senior
Lien,
2020
A,
Refunding,
4%,
6/01/34
.....................
340,000
410,667
Revenue,
Senior
Lien,
2020
A,
Refunding,
4%,
6/01/35
.....................
400,000
481,650
Revenue,
Senior
Lien,
2020
A,
Refunding,
4%,
6/01/36
.....................
615,000
737,046
Revenue,
Senior
Lien,
2020
A,
Refunding,
4%,
6/01/37
.....................
660,000
787,995
Revenue,
Senior
Lien,
2020
A,
Refunding,
4%,
6/01/38
.....................
615,000
731,950
Revenue,
Senior
Lien,
2020
A,
Refunding,
4%,
6/01/39
.....................
600,000
712,021
Revenue,
Senior
Lien,
2020
A,
Refunding,
4%,
6/01/40
.....................
615,000
727,984
Gold
Country
Settlement
Funding
Corp.,
Revenue,
2020
A,
Refunding,
5%,
6/01/29
250,000
325,121
Gold
Country
Settlement
Funding
Corp.,
Revenue,
2020
A,
Refunding,
5%,
6/01/31
1,065,000
1,418,638
Merced
County
Tobacco
Funding
Corp.,
Revenue,
Senior
Lien,
2020
A,
Refunding,
5%,
6/01/30
....................................................
315,000
416,049
Merced
County
Tobacco
Funding
Corp.,
Revenue,
Senior
Lien,
2020
A,
Refunding,
5%,
6/01/31
....................................................
300,000
398,976
Merced
County
Tobacco
Funding
Corp.,
Revenue,
Senior
Lien,
2020
A,
Refunding,
5%,
6/01/33
....................................................
245,000
322,254
Merced
County
Tobacco
Funding
Corp.,
Revenue,
Senior
Lien,
2020
A,
Refunding,
4%,
6/01/34
....................................................
420,000
512,612
Sonoma
County
Securitization
Corp.,
Revenue,
2020
A,
Refunding,
5%,
6/01/30
..
425,000
561,335
Sonoma
County
Securitization
Corp.,
Revenue,
2020
A,
Refunding,
5%,
6/01/31
..
225,000
299,232
Sonoma
County
Securitization
Corp.,
Revenue,
2020
A,
Refunding,
5%,
6/01/32
..
250,000
330,669
Sonoma
County
Securitization
Corp.,
Revenue,
2020
A,
Refunding,
5%,
6/01/33
..
300,000
394,597
Sonoma
County
Securitization
Corp.,
Revenue,
2020
A,
Refunding,
4%,
6/01/34
..
365,000
445,484
California
Educational
Facilities
Authority
,
Chapman
University,
Revenue,
2011,
5%,
4/01/25
.........................
5,000,000
5,016,774
Loma
Linda
University,
Revenue,
2017A,
Refunding,
5%,
4/01/29
..............
1,020,000
1,246,040
Loma
Linda
University,
Revenue,
2017A,
Refunding,
5%,
4/01/32
..............
1,235,000
1,482,414
Loma
Linda
University,
Revenue,
2017A,
Refunding,
5%,
4/01/33
..............
1,000,000
1,195,496
Loma
Linda
University,
Revenue,
2017A,
Refunding,
5%,
4/01/34
..............
1,750,000
2,087,312
Loma
Linda
University,
Revenue,
2017A,
Refunding,
5%,
4/01/35
..............
1,500,000
1,785,161
Loma
Linda
University,
Revenue,
2017A,
Refunding,
5%,
4/01/36
..............
2,000,000
2,376,819
Loma
Linda
University,
Revenue,
2017A,
Refunding,
5%,
4/01/37
..............
2,000,000
2,370,756
University
of
San
Francisco,
Revenue,
2011,
ETM,
5%,
10/01/21
..............
3,000,000
3,070,712
University
of
San
Francisco,
Revenue,
2018A,
5%,
10/01/37
.................
1,365,000
1,681,829
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
(continued)
See
Notes
to
Statement
of
Investments.
Quarterly
Statement
of
Investments
3
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
California
(continued)
California
Enterprise
Development
Authority
,
Provident
Group-SDSU
Properties
LLC,
Revenue,
First
Tier,
2020
A,
5%,
8/01/22
..
$
120,000
$
126,860
Provident
Group-SDSU
Properties
LLC,
Revenue,
First
Tier,
2020
A,
5%,
8/01/24
..
230,000
260,228
Provident
Group-SDSU
Properties
LLC,
Revenue,
First
Tier,
2020
A,
5%,
8/01/26
..
540,000
644,559
Provident
Group-SDSU
Properties
LLC,
Revenue,
First
Tier,
2020
A,
5%,
8/01/28
..
615,000
760,360
Provident
Group-SDSU
Properties
LLC,
Revenue,
First
Tier,
2020
A,
5%,
8/01/30
..
250,000
317,876
Provident
Group-SDSU
Properties
LLC,
Revenue,
First
Tier,
2020
A,
5%,
8/01/35
..
450,000
558,231
California
Health
Facilities
Financing
Authority
,
California-Nevada
Methodist
Homes,
Revenue,
2015,
Refunding,
California
Mortgage
Insured,
5%,
7/01/30
..............................................
1,825,000
2,127,171
Casa
Milagro
LLC,
Revenue,
2011A,
California
Mortgage
Insured,
6%,
2/01/24
....
2,000,000
2,008,355
Cedars-Sinai
Medical
Center
Obligated
Group,
Revenue,
2015,
Refunding,
5%,
11/15/30
.......................................................
3,000,000
3,566,783
Cedars-Sinai
Medical
Center
Obligated
Group,
Revenue,
2016A,
Refunding,
5%,
8/15/31
........................................................
3,500,000
4,227,842
Children's
Hospital
Los
Angeles
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
8/15/35
........................................................
1,650,000
1,959,382
Children's
Hospital
Los
Angeles
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
8/15/36
........................................................
2,045,000
2,422,036
Children's
Hospital
Los
Angeles
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
8/15/37
........................................................
1,330,000
1,571,304
El
Camino
Hospital,
Revenue,
2017,
5%,
2/01/28
..........................
2,100,000
2,565,251
El
Camino
Hospital,
Revenue,
2017,
5%,
2/01/29
..........................
2,460,000
2,983,033
El
Camino
Hospital,
Revenue,
2017,
5%,
2/01/30
..........................
1,250,000
1,506,023
El
Camino
Hospital,
Revenue,
2017,
5%,
2/01/31
..........................
1,200,000
1,443,499
Marshall
Medical
Center,
Revenue,
2015,
Refunding,
California
Mortgage
Insured,
5%,
11/01/33
...................................................
1,000,000
1,138,558
California
Housing
Finance
,
Revenue,
2019-2,
A,
4%,
3/20/33
......................................
5,395,403
6,258,269
Lakeside
Drive
Senior
Housing
LP,
Revenue,
2019N,
FNMA
Insured,
2.35%,
12/01/35
.......................................................
9,705,420
9,989,708
Longshore
Cove
LP,
Revenue,
2020
E,
FNMA
Insured,
2.5%,
2/01/38
..........
3,726,246
3,903,003
California
Infrastructure
&
Economic
Development
Bank
,
Revenue,
2015A,
Pre-Refunded,
5%,
10/01/32
............................
2,915,000
3,506,624
Academy
of
Motion
Picture
Arts
and
Sciences
Obligated
Group,
Revenue,
2020B,
Refunding,
5%,
11/01/29
...........................................
2,000,000
2,598,155
Broad
Collection
LLC,
Revenue,
2011A,
5%,
6/01/21
.......................
5,000,000
5,037,852
California
Municipal
Finance
Authority
,
a,b
Revenue,
144A,
2009
A,
Mandatory
Put,
1.3%,
2/03/25
.....................
1,800,000
1,843,469
ACI
Royal
York,
Inc.,
Revenue,
2020
A,
3.125%,
2/15/33
....................
620,000
593,493
Biola
University,
Inc.,
Revenue,
2017,
Refunding,
5%,
10/01/29
...............
1,350,000
1,631,758
Biola
University,
Inc.,
Revenue,
2017,
Refunding,
5%,
10/01/31
...............
1,000,000
1,199,710
Biola
University,
Inc.,
Revenue,
2017,
Refunding,
5%,
10/01/33
...............
1,070,000
1,274,901
Biola
University,
Inc.,
Revenue,
2017,
Refunding,
5%,
10/01/35
...............
1,000,000
1,186,638
California
Home
for
the
Aged,
Inc.
(The),
Revenue,
2018,
California
Mortgage
Insured,
5%,
5/15/36
..............................................
1,000,000
1,230,100
CHF-Riverside
II
LLC,
Revenue,
2019,
5%,
5/15/32
........................
1,000,000
1,237,101
CHF-Riverside
II
LLC,
Revenue,
2019,
5%,
5/15/34
........................
3,120,000
3,826,530
CHF-Riverside
II
LLC,
Revenue,
2019,
5%,
5/15/35
........................
1,000,000
1,222,046
CHF-Riverside
II
LLC,
Revenue,
2019,
5%,
5/15/37
........................
2,260,000
2,744,010
CHF-Riverside
II
LLC,
Revenue,
2019,
5%,
5/15/38
........................
1,000,000
1,210,679
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2015A,
Refunding,
5%,
2/01/26
............................................
2,010,000
2,307,303
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2015A,
Refunding,
5%,
2/01/28
............................................
1,500,000
1,703,733
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
2/01/25
............................................
2,000,000
2,305,580
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
(continued)
Quarterly
Statement
of
Investments
See
Notes
to
Statement
of
Investments.
4
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
California
(continued)
California
Municipal
Finance
Authority,
(continued)
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
2/01/26
............................................
$
2,010,000
$
2,382,693
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
2/01/27
............................................
1,750,000
2,123,426
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
2/01/28
............................................
2,250,000
2,693,652
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
2/01/29
............................................
2,140,000
2,538,055
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
2/01/30
............................................
2,000,000
2,364,108
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
2/01/31
............................................
2,700,000
3,178,336
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
2/01/32
............................................
2,200,000
2,581,919
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
2/01/33
............................................
3,500,000
4,095,704
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
2/01/34
............................................
5,000,000
5,834,775
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
2/01/35
............................................
5,000,000
5,824,144
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
2/01/36
............................................
2,295,000
2,667,173
Community
Hospitals
of
Central
California
Obligated
Group,
Revenue,
2017A,
Refunding,
5%,
2/01/37
............................................
2,000,000
2,318,591
Del
Harbor
Foundation,
Revenue,
2015,
Refunding,
5%,
11/01/26
.............
1,085,000
1,296,596
Inland
Christian
Home,
Inc.,
Revenue,
2020,
California
Mortgage
Insured,
4%,
12/01/30
.......................................................
1,200,000
1,472,280
Inland
Christian
Home,
Inc.,
Revenue,
2020,
California
Mortgage
Insured,
4%,
12/01/39
.......................................................
1,245,000
1,470,287
Inland
Counties
Regional
Center,
Inc.,
Revenue,
2015,
Refunding,
5%,
6/15/21
...
1,435,000
1,448,294
Inland
Counties
Regional
Center,
Inc.,
Revenue,
2015,
Refunding,
5%,
6/15/23
...
1,580,000
1,744,137
Inland
Counties
Regional
Center,
Inc.,
Revenue,
2015,
Refunding,
5%,
6/15/24
...
1,000,000
1,145,486
Inland
Counties
Regional
Center,
Inc.,
Revenue,
2015,
Refunding,
5%,
6/15/32
...
6,625,000
7,759,503
LAX
Integrated
Express
Solutions
LLC,
Revenue,
Senior
Lien,
2018
A,
5%,
6/30/26
1,000,000
1,209,034
LAX
Integrated
Express
Solutions
LLC,
Revenue,
Senior
Lien,
2018
A,
5%,
12/31/37
5,500,000
6,607,423
LAX
Integrated
Express
Solutions
LLC,
Revenue,
Senior
Lien,
2018
A,
5%,
12/31/38
21,100,000
25,286,784
Northbay
Healthcare
Group
Obligated
Group,
Revenue,
2017
A,
5%,
11/01/25
....
1,000,000
1,151,580
Northbay
Healthcare
Group
Obligated
Group,
Revenue,
2017
A,
5%,
11/01/26
....
900,000
1,059,126
Northbay
Healthcare
Group
Obligated
Group,
Revenue,
2017
A,
5%,
11/01/27
....
1,300,000
1,523,954
Northbay
Healthcare
Group
Obligated
Group,
Revenue,
2017
A,
5%,
11/01/28
....
1,400,000
1,630,510
Northbay
Healthcare
Group
Obligated
Group,
Revenue,
2017
A,
5.25%,
11/01/29
..
1,000,000
1,173,369
Northbay
Healthcare
Group
Obligated
Group,
Revenue,
2017
A,
5%,
11/01/30
....
1,350,000
1,555,262
Northbay
Healthcare
Group
Obligated
Group,
Revenue,
2017
A,
5.25%,
11/01/31
..
1,250,000
1,455,489
Northbay
Healthcare
Group
Obligated
Group,
Revenue,
2017
A,
5.25%,
11/01/36
..
4,500,000
5,178,243
Northern
California
Retired
Officers
Community,
Revenue,
2016,
Refunding,
California
Mortgage
Insured,
5%,
1/01/37
..............................
1,310,000
1,553,565
Pilgrim
Place
in
Claremont,
Revenue,
2016A,
Refunding,
California
Mortgage
Insured,
5%,
5/15/31
..............................................
2,750,000
3,367,311
South
Central
Los
Angeles
Regional
Center
for
Developmentally
Disabled
Persons,
Revenue,
2013,
5.25%,
12/01/27
....................................
3,910,000
4,307,122
System
Management
Group,
Revenue,
2019A,
5%,
4/01/35
..................
1,780,000
2,218,138
System
Management
Group,
Revenue,
2019A,
5%,
4/01/37
..................
2,945,000
3,646,212
University
of
La
Verne,
Revenue,
2017A,
Refunding,
5%,
6/01/31
..............
1,000,000
1,227,887
University
of
La
Verne,
Revenue,
2017A,
Refunding,
5%,
6/01/32
..............
1,000,000
1,225,464
University
of
La
Verne,
Revenue,
2017A,
Refunding,
5%,
6/01/33
..............
1,010,000
1,234,633
University
of
La
Verne,
Revenue,
2017A,
Refunding,
5%,
6/01/35
..............
1,440,000
1,753,168
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
(continued)
See
Notes
to
Statement
of
Investments.
Quarterly
Statement
of
Investments
5
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
California
(continued)
a
California
Pollution
Control
Financing
Authority
,
San
Diego
County
Water
Authority,
Revenue,
144A,
2019,
Refunding,
5%,
7/01/21
.
$
845,000
$
854,700
San
Diego
County
Water
Authority,
Revenue,
144A,
2019,
Refunding,
5%,
7/01/22
.
855,000
905,312
San
Diego
County
Water
Authority,
Revenue,
144A,
2019,
Refunding,
5%,
7/01/29
.
4,350,000
5,326,305
California
Public
Finance
Authority
,
b
Henry
Mayo
Newhall
Hospital
Obligated
Group,
Revenue,
2021
B,
Mandatory
Put,
4%,
10/15/31
...................................................
690,000
822,804
Henry
Mayo
Newhall
Hospital
Obligated
Group,
Revenue,
2021A,
Refunding,
4%,
10/15/21
.......................................................
215,000
218,769
Henry
Mayo
Newhall
Hospital
Obligated
Group,
Revenue,
2021A,
Refunding,
4%,
10/15/22
.......................................................
245,000
257,257
Henry
Mayo
Newhall
Hospital
Obligated
Group,
Revenue,
2021A,
Refunding,
4%,
10/15/23
.......................................................
285,000
307,836
Henry
Mayo
Newhall
Hospital
Obligated
Group,
Revenue,
2021A,
Refunding,
4%,
10/15/24
.......................................................
380,000
420,264
Henry
Mayo
Newhall
Hospital
Obligated
Group,
Revenue,
2021A,
Refunding,
4%,
10/15/25
.......................................................
400,000
450,938
Henry
Mayo
Newhall
Hospital
Obligated
Group,
Revenue,
2021A,
Refunding,
4%,
10/15/26
.......................................................
420,000
481,529
Henry
Mayo
Newhall
Hospital
Obligated
Group,
Revenue,
2021A,
Refunding,
4%,
10/15/27
.......................................................
400,000
464,485
Henry
Mayo
Newhall
Hospital
Obligated
Group,
Revenue,
2021A,
Refunding,
4%,
10/15/28
.......................................................
360,000
421,367
a
California
School
Finance
Authority
,
Green
Dot
Public
Schools
Obligated
Group,
Revenue,
144A,
2018
A,
5%,
8/01/26
.
300,000
353,283
Green
Dot
Public
Schools
Obligated
Group,
Revenue,
144A,
2018
A,
5%,
8/01/27
.
320,000
384,118
Kipp
SoCal
Public
Schools
Obligated
Group,
Revenue,
144A,
2020
A,
5%,
7/01/24
100,000
113,343
Kipp
SoCal
Public
Schools
Obligated
Group,
Revenue,
144A,
2020
A,
5%,
7/01/25
105,000
122,432
Kipp
SoCal
Public
Schools
Obligated
Group,
Revenue,
144A,
2020
A,
5%,
7/01/26
110,000
131,696
Kipp
SoCal
Public
Schools
Obligated
Group,
Revenue,
144A,
2020
A,
5%,
7/01/27
100,000
122,652
Kipp
SoCal
Public
Schools
Obligated
Group,
Revenue,
144A,
2020
A,
5%,
7/01/28
100,000
124,776
Kipp
SoCal
Public
Schools
Obligated
Group,
Revenue,
144A,
2020
A,
5%,
7/01/29
100,000
126,852
Kipp
SoCal
Public
Schools
Obligated
Group,
Revenue,
144A,
2020
A,
5%,
7/01/30
100,000
128,492
California
State
Public
Works
Board
,
Revenue,
2012D,
Pre-Refunded,
5%,
9/01/25
............................
2,920,000
3,122,201
Revenue,
2012D,
Pre-Refunded,
5%,
9/01/26
............................
4,650,000
4,971,999
California
State
University,
Revenue,
2010B-1,
5.375%,
3/01/25
...............
2,500,000
2,509,413
State
of
California
Department
of
Corrections
&
Rehabilitation,
Revenue,
2014A,
5%,
9/01/26
........................................................
10,000,000
11,531,816
State
of
California
Department
of
Corrections
&
Rehabilitation,
Revenue,
2014D,
5%,
9/01/26
........................................................
6,835,000
7,881,996
California
State
University
,
Revenue,
Pre-Refunded,
5%,
11/01/25
..................................
10,000,000
10,281,790
Revenue,
2012
A,
Pre-Refunded,
5%,
11/01/26
...........................
11,000,000
11,850,175
Revenue,
2016A,
Refunding,
5%,
11/01/29
...............................
16,000,000
19,313,315
Revenue,
2016A,
Refunding,
5%,
11/01/30
...............................
5,000,000
6,021,605
California
Statewide
Communities
Development
Authority
,
Revenue,
2019A,
Refunding,
California
Mortgage
Insured,
5%,
11/15/34
........
750,000
941,946
Revenue,
2019A,
Refunding,
California
Mortgage
Insured,
5%,
11/15/37
........
735,000
914,374
Aldersly
Obligated
Group,
Revenue,
2015A,
Refunding,
4.5%,
5/15/25
..........
985,000
1,046,631
Community
Church
Retirement
Center,
Revenue,
2013,
California
Mortgage
Insured,
5%,
11/15/28
...................................................
1,000,000
1,104,206
Hebrew
Home
for
Aged
Disabled,
Revenue,
2016,
California
Mortgage
Insured,
5%,
11/01/36
.......................................................
9,000,000
10,673,460
Henry
Mayo
Newhall
Hospital
Obligated
Group,
Revenue,
2014,
Pre-Refunded,
AGMC
Insured,
5%,
10/01/26
.......................................
1,000,000
1,154,317
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
(continued)
Quarterly
Statement
of
Investments
See
Notes
to
Statement
of
Investments.
6
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
California
(continued)
California
Statewide
Communities
Development
Authority,
(continued)
Henry
Mayo
Newhall
Hospital
Obligated
Group,
Revenue,
2014,
Pre-Refunded,
AGMC
Insured,
5%,
10/01/28
.......................................
$
1,250,000
$
1,442,896
b
Kaiser
Foundation
Hospitals,
Revenue,
2004
L,
Mandatory
Put,
5%,
11/01/29
.....
10,000,000
13,171,380
Poway
RHF
Housing,
Inc.,
Revenue,
2013A,
California
Mortgage
Insured,
5%,
11/15/28
.......................................................
500,000
552,103
Sutter
Health
Obligated
Group,
Revenue,
2012
A,
Pre-Refunded,
5%,
8/15/24
....
2,000,000
2,134,116
Sutter
Health
Obligated
Group,
Revenue,
2012
A,
Pre-Refunded,
5%,
8/15/25
....
4,715,000
5,031,179
Sutter
Health
Obligated
Group,
Revenue,
2012
A,
Pre-Refunded,
5%,
8/15/27
....
7,005,000
7,474,743
Campbell
Union
School
District
,
GO
,
2015
,
Refunding
,
5
%
,
8/01/28
..............
3,235,000
3,835,530
Carson
Public
Financing
Authority
,
City
of
Carson
Reassessment
District
No.
2001-1,
Revenue,
2019,
Refunding,
5%,
9/02/25
........................................................
1,000,000
1,179,319
City
of
Carson
Reassessment
District
No.
2001-1,
Revenue,
2019,
Refunding,
5%,
9/02/31
........................................................
1,000,000
1,296,056
Castaic
Lake
Water
Agency
,
Santa
Clarita
Valley
Water
Agency
,
COP
,
1999
A
,
AMBAC
Insured
,
Zero
Cpn.,
8/01/22
..........................................
10,445,000
10,396,514
Ceres
Redevelopment
Agency
Successor
Agency
,
Tax
Allocation
,
2020
,
Refunding
,
BAM
Insured
,
4
%
,
12/15/35
..........................................
1,000,000
1,182,833
Chabot-Las
Positas
Community
College
District
,
GO
,
2013
,
Refunding
,
5
%
,
8/01/24
.
6,715,000
7,452,114
Chino
Valley
Unified
School
District
,
GO,
2020
B,
5%,
8/01/35
............................................
100,000
131,169
GO,
2020
B,
5%,
8/01/36
............................................
125,000
163,103
GO,
2020
B,
5%,
8/01/37
............................................
250,000
325,066
GO,
2020
B,
5%,
8/01/38
............................................
350,000
453,020
GO,
2020
B,
5%,
8/01/39
............................................
400,000
516,289
c,d
Chula
Vista
Community
Facilities
District
,
City
of
Chula
Vista
Community
Facilities
District
No.
16-1
Improvement
Area
No.
2,
Special
Tax,
2021,
4%,
9/01/46
......................................
855,000
933,486
City
of
Chula
Vista
Community
Facilities
District
No.
16-1
Improvement
Area
No.
2,
Special
Tax,
2021,
4%,
9/01/51
......................................
1,045,000
1,137,990
City
of
Clovis
,
Sewer,
Revenue,
2013,
Refunding,
BAM
Insured,
5%,
8/01/28
................
1,200,000
1,325,520
Water,
Revenue,
2013,
Refunding,
BAM
Insured,
5%,
3/01/26
................
2,620,000
2,847,006
Water,
Revenue,
2013,
Refunding,
BAM
Insured,
5%,
3/01/27
................
1,000,000
1,086,643
City
of
Fontana
,
Community
Facilities
District
No.
85,
Special
Tax,
2020,
4%,
9/01/32
...........
250,000
284,491
Community
Facilities
District
No.
85,
Special
Tax,
2020,
4%,
9/01/36
...........
550,000
618,927
Community
Facilities
District
No.
85,
Special
Tax,
2020,
4%,
9/01/40
...........
625,000
696,857
Community
Facilities
District
No.
88,
Special
Tax,
2020,
4%,
9/01/40
...........
550,000
614,983
City
of
Irvine
,
Reassessment
District
No.
15-2
,
1915
Act,
Special
Assessment
,
Refunding
,
5
%
,
9/02/25
.............................................
1,000,000
1,194,651
City
of
Lincoln
,
Community
Facilities
District
No.
2006-1,
Special
Tax,
2021,
Refunding,
4%,
9/01/33
195,000
221,330
Community
Facilities
District
No.
2006-1,
Special
Tax,
2021,
Refunding,
4%,
9/01/35
215,000
241,498
Community
Facilities
District
No.
2006-1,
Special
Tax,
2021,
Refunding,
4%,
9/01/37
250,000
279,186
City
of
Long
Beach
,
Harbor,
Revenue,
2019A,
5%,
5/15/37
..................................
2,475,000
3,155,225
Harbor,
Revenue,
2019A,
5%,
5/15/38
..................................
2,250,000
2,856,801
Marina
System,
Revenue,
2015,
5%,
5/15/27
.............................
1,285,000
1,470,189
Marina
System,
Revenue,
2015,
5%,
5/15/32
.............................
1,250,000
1,403,163
City
of
Los
Angeles
,
Department
of
Airports,
Revenue,
2018
D,
Refunding,
5%,
5/15/31
.............
5,715,000
7,211,528
Department
of
Airports,
Revenue,
2019
A,
Refunding,
5%,
5/15/34
.............
5,430,000
6,766,023
Department
of
Airports,
Revenue,
2019
D,
5%,
5/15/30
.....................
2,000,000
2,509,649
Department
of
Airports,
Revenue,
2019
D,
5%,
5/15/31
.....................
2,685,000
3,353,807
Department
of
Airports,
Revenue,
2019
D,
5%,
5/15/33
.....................
2,670,000
3,310,719
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
(continued)
See
Notes
to
Statement
of
Investments.
Quarterly
Statement
of
Investments
7
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
California
(continued)
City
of
Los
Angeles,
(continued)
Department
of
Airports,
Revenue,
2019
D,
5%,
5/15/34
.....................
$
1,415,000
$
1,748,754
Department
of
Airports,
Revenue,
2019
F,
5%,
5/15/37
......................
1,285,000
1,587,123
Department
of
Airports,
Revenue,
2019
F,
5%,
5/15/38
......................
7,500,000
9,238,819
Department
of
Airports,
Revenue,
2020
A,
Refunding,
5%,
5/15/32
.............
3,205,000
4,177,833
Department
of
Airports,
Revenue,
2020
A,
Refunding,
5%,
5/15/33
.............
3,000,000
3,894,688
Department
of
Airports,
Revenue,
2020
A,
Refunding,
5%,
5/15/37
.............
7,380,000
9,443,364
Department
of
Airports,
Revenue,
2021B,
Refunding,
5%,
5/15/31
.............
920,000
1,244,487
Department
of
Airports,
Revenue,
2021B,
Refunding,
5%,
5/15/32
.............
920,000
1,234,534
Wastewater
System,
Revenue,
2012
B,
Refunding,
5%,
6/01/28
...............
11,700,000
12,340,211
Wastewater
System,
Revenue,
2013-A,
Refunding,
5%,
6/01/27
...............
9,145,000
10,064,721
City
of
Palo
Alto
,
1915
Act,
Special
Assessment,
2012,
Refunding,
5%,
9/02/28
................
1,000,000
1,062,442
1915
Act,
Special
Assessment,
2012,
Refunding,
5%,
9/02/29
................
1,280,000
1,356,970
City
of
Porterville
,
Water,
COP,
2021,
AGMC
Insured,
4%,
8/15/35
...........................
230,000
276,913
Water,
COP,
2021,
AGMC
Insured,
4%,
8/15/36
...........................
200,000
239,690
Water,
COP,
2021,
AGMC
Insured,
4%,
8/15/37
...........................
175,000
208,981
City
of
Riverside
,
Sewer,
Revenue,
2015A,
Refunding,
5%,
8/01/28
..........................
3,870,000
4,577,505
Sewer,
Revenue,
2015A,
Refunding,
5%,
8/01/29
..........................
4,670,000
5,517,194
City
of
Sacramento
,
North
Natomas
Community
Facilities
District
No.
4,
Special
Tax,
2015
F,
Refunding,
5%,
9/01/26
....................................................
615,000
718,623
North
Natomas
Community
Facilities
District
No.
4,
Special
Tax,
2015
F,
Refunding,
5%,
9/01/28
....................................................
1,220,000
1,411,968
North
Natomas
Community
Facilities
District
No.
4,
Special
Tax,
2015
F,
Refunding,
5%,
9/01/29
....................................................
1,555,000
1,786,127
North
Natomas
Community
Facilities
District
No.
4,
Special
Tax,
2015
F,
Refunding,
5%,
9/01/30
....................................................
1,045,000
1,193,990
North
Natomas
Community
Facilities
District
No.
4,
Special
Tax,
2015
F,
Refunding,
5%,
9/01/31
....................................................
1,800,000
2,051,240
Transient
Occupancy
Tax,
Revenue,
2018
A,
5%,
6/01/34
....................
1,485,000
1,795,337
Transient
Occupancy
Tax,
Revenue,
2018
A,
5%,
6/01/35
....................
2,000,000
2,412,828
Transient
Occupancy
Tax,
Revenue,
2018
A,
5%,
6/01/36
....................
2,220,000
2,670,456
City
of
San
Francisco
,
Public
Utilities
Commission
Water
,
Revenue
,
2015A
,
Refunding
,
5
%
,
11/01/28
............................................
5,000,000
5,876,104
City
of
Santa
Rosa
,
Wastewater
,
Revenue
,
2020
A
,
5
%
,
9/01/33
................
4,260,000
5,629,213
City
of
Tustin
,
Community
Facilities
District
No.
06-1,
Special
Tax,
2015A,
Refunding,
5%,
9/01/30
1,000,000
1,175,159
Community
Facilities
District
No.
06-1,
Special
Tax,
2015A,
Refunding,
5%,
9/01/32
1,565,000
1,830,120
City
of
Woodland
,
Community
Facilities
District
No.
2004-1
,
Special
Tax
,
2019
,
5
%
,
9/01/36
.........................................................
1,600,000
1,830,678
Compton
Community
Redevelopment
Agency
,
Tax
Allocation,
Second
Lien
,
2010A
,
5
%
,
8/01/25
.........................................................
8,275,000
8,299,871
Contra
Costa
Water
District
,
Revenue
,
T
,
Refunding
,
5
%
,
10/01/26
..............
3,400,000
3,944,745
Corona
Community
Facilities
District
,
Community
Facilities
District
No.
2018-1
Improvement
Area
No.
1
,
Special
Tax
,
2020
,
4
%
,
9/01/40
....................
350,000
387,363
Corona-Norco
Unified
School
District
,
GO
,
2011
E
,
Zero
Cpn.,
8/01/25
...........
4,645,000
5,474,356
Corona-Norco
Unified
School
District
Public
Financing
Authority
,
Special
Tax,
Senior
Lien,
2013A,
Refunding,
5%,
9/01/24
....................
1,565,000
1,723,605
Special
Tax,
Senior
Lien,
2013A,
Refunding,
5%,
9/01/25
....................
1,000,000
1,098,437
County
of
Sacramento
,
Airport
System,
Revenue,
2016B,
Refunding,
5%,
7/01/35
...................
1,000,000
1,194,921
Airport
System,
Revenue,
2016B,
Refunding,
5%,
7/01/36
...................
2,000,000
2,384,520
County
of
San
Diego
,
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020
A,
4%,
9/01/26
......
105,000
120,795
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
(continued)
Quarterly
Statement
of
Investments
See
Notes
to
Statement
of
Investments.
8
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
California
(continued)
County
of
San
Diego,
(continued)
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020
A,
4%,
9/01/27
......
$
120,000
$
139,368
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020
A,
4%,
9/01/28
......
140,000
162,123
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020
A,
4%,
9/01/29
......
75,000
86,262
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020
A,
4%,
9/01/31
......
100,000
113,180
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020
A,
4%,
9/01/33
......
245,000
275,506
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020
A,
4%,
9/01/35
......
295,000
329,419
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020
A,
4%,
9/01/37
......
175,000
194,446
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020
A,
4%,
9/01/38
......
375,000
415,673
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020
A,
4%,
9/01/40
......
115,000
126,610
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020A,
4%,
9/01/27
......
315,000
365,842
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020A,
4%,
9/01/28
......
355,000
411,097
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020A,
4%,
9/01/30
......
200,000
227,983
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020A,
4%,
9/01/31
......
120,000
135,816
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020A,
4%,
9/01/33
......
100,000
112,452
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020A,
4%,
9/01/34
......
100,000
112,206
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020A,
4%,
9/01/35
......
125,000
139,584
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020A,
4%,
9/01/37
......
590,000
655,559
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020A,
4%,
9/01/39
......
920,000
1,017,027
Community
Facilities
District
No.
2008-01,
Special
Tax,
2020A,
4%,
9/01/40
......
475,000
522,954
a
CSCDA
Community
Improvement
Authority
,
Oceanaire
Apartments
,
Revenue
,
144A,
2021A-1
,
3.2
%
,
9/01/46
.............................................
5,000,000
4,991,262
Cupertino
Union
School
District
,
GO,
B,
Pre-Refunded,
5%,
8/01/26
.....................................
1,285,000
1,486,347
GO,
B,
Pre-Refunded,
5%,
8/01/27
.....................................
1,500,000
1,735,035
GO,
B,
Pre-Refunded,
5%,
8/01/28
.....................................
1,000,000
1,156,690
Del
Mar
Race
Track
Authority
,
Revenue,
2015,
Refunding,
5%,
10/01/22
................................
1,435,000
1,476,270
Revenue,
2015,
Refunding,
5%,
10/01/23
................................
1,510,000
1,577,470
Revenue,
2015,
Refunding,
5%,
10/01/28
................................
1,925,000
2,029,424
Revenue,
2015,
Refunding,
5%,
10/01/30
................................
1,125,000
1,178,346
Dublin
Unified
School
District
,
GO
,
2016
,
Refunding
,
5
%
,
8/01/32
...............
3,220,000
3,911,338
East
Bay
Municipal
Utility
District
,
Wastewater
System,
Revenue,
2014A,
Refunding,
5%,
6/01/25
...............
2,845,000
3,383,477
Wastewater
System,
Revenue,
2014A,
Refunding,
5%,
6/01/26
...............
3,650,000
4,484,256
Wastewater
System,
Revenue,
2014A,
Refunding,
5%,
6/01/27
...............
1,500,000
1,895,441
Wastewater
System,
Revenue,
2014A,
Refunding,
5%,
6/01/29
...............
1,000,000
1,322,649
Water
System,
Revenue,
2015A,
Refunding,
5%,
6/01/29
....................
5,000,000
5,928,163
El
Dorado
Irrigation
District
,
COP,
2020
A,
5%,
3/01/34
...........................................
375,000
489,982
COP,
2020
A,
5%,
3/01/37
...........................................
325,000
420,611
COP,
2020
A,
5%,
3/01/38
...........................................
750,000
967,792
COP,
2020
A,
5%,
3/01/39
...........................................
720,000
924,972
Revenue,
2016C,
Pre-Refunded,
5%,
3/01/31
............................
2,500,000
3,041,766
Elk
Grove
Finance
Authority
,
Special
Tax
,
2015
,
Refunding
,
BAM
Insured
,
5
%
,
9/01/30
1,130,000
1,331,997
FHLMC,
Multi-family
ML
Pass-Through
Certificates
,
Revenue
,
2019-ML06
,
ACA
,
2.493
%
,
7/25/35
...................................................
24,595,229
25,768,894
Folsom
Public
Financing
Authority
,
Special
Tax,
2011A,
Refunding,
AGMC
Insured,
5%,
9/01/23
.................
1,005,000
1,023,890
Special
Tax,
2011A,
Refunding,
AGMC
Insured,
5%,
9/01/24
.................
1,055,000
1,074,698
Foothill-De
Anza
Community
College
District
,
GO,
2015,
Refunding,
5%,
8/01/27
.....................................
1,250,000
1,489,117
GO,
2015,
Refunding,
5%,
8/01/28
.....................................
2,500,000
2,972,330
Foothill-Eastern
Transportation
Corridor
Agency
,
Revenue,
2013
A,
Refunding,
Zero
Cpn.,
1/15/25
..........................
2,500,000
2,497,407
Revenue,
2013
A,
Refunding,
Zero
Cpn.,
1/15/26
..........................
3,760,000
3,891,127
Revenue,
2013
A,
Refunding,
Zero
Cpn.,
1/15/27
..........................
6,395,000
6,836,466
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
(continued)
See
Notes
to
Statement
of
Investments.
Quarterly
Statement
of
Investments
9
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
California
(continued)
Foothill-Eastern
Transportation
Corridor
Agency,
(continued)
Revenue,
2013
A,
Refunding,
AGMC
Insured,
Zero
Cpn.,
1/15/29
..............
$
19,895,000
$
22,353,799
Revenue,
2015A,
Refunding,
AGMC
Insured,
Zero
Cpn.,
1/15/34
..............
3,000,000
2,225,827
Revenue,
Junior
Lien,
2021
C,
Refunding,
5%,
1/15/26
.....................
305,000
362,992
Revenue,
Junior
Lien,
2021
C,
Refunding,
5%,
1/15/27
.....................
350,000
427,092
Revenue,
Junior
Lien,
2021
C,
Refunding,
5%,
1/15/28
.....................
320,000
397,521
Revenue,
Junior
Lien,
2021
C,
Refunding,
5%,
1/15/29
.....................
360,000
453,931
Revenue,
Junior
Lien,
2021
C,
Refunding,
5%,
1/15/30
.....................
400,000
511,079
Revenue,
Junior
Lien,
2021
C,
Refunding,
5%,
1/15/31
.....................
470,000
609,193
Revenue,
Junior
Lien,
2021
C,
Refunding,
4%,
1/15/32
.....................
300,000
358,953
Revenue,
Junior
Lien,
2021
C,
Refunding,
4%,
1/15/33
.....................
445,000
529,529
Fullerton
School
District
Financing
Authority
,
Special
Tax,
Senior
Lien,
2013
A,
Refunding,
AGMC
Insured,
5%,
9/01/27
.......
1,000,000
1,106,441
Special
Tax,
Senior
Lien,
2013
A,
Refunding,
AGMC
Insured,
5%,
9/01/28
.......
1,040,000
1,150,912
Golden
State
Tobacco
Securitization
Corp.
,
Revenue,
2018A-1,
Refunding,
5%,
6/01/31
..............................
1,000,000
1,226,682
Revenue,
2018A-1,
Refunding,
5%,
6/01/32
..............................
8,135,000
9,930,202
Revenue,
2018A-1,
Refunding,
5%,
6/01/33
..............................
10,000,000
12,144,088
Revenue,
2018A-1,
Refunding,
5%,
6/01/35
..............................
9,000,000
10,738,610
Imperial
Community
College
District
,
GO,
2012,
Refunding,
AGMC
Insured,
5%,
8/01/21
.........................
1,010,000
1,025,439
GO,
2012,
Refunding,
AGMC
Insured,
5%,
8/01/22
.........................
1,170,000
1,242,667
GO,
2012,
Pre-Refunded,
AGMC
Insured,
5%,
8/01/23
......................
1,350,000
1,437,010
Imperial
Irrigation
District
,
Electric
System,
Revenue,
2019,
Refunding,
5%,
11/01/36
...................
2,500,000
3,137,343
Electric
System,
Revenue,
2019,
Refunding,
5%,
11/01/37
...................
3,885,000
4,861,205
Electric
System,
Revenue,
2019,
Refunding,
5%,
11/01/38
...................
4,075,000
5,085,313
Independent
Cities
Finance
Authority
,
San
Juan
Mobile
Estates
,
Revenue
,
2015
,
Refunding
,
5
%
,
8/15/30
.............................................
1,575,000
1,770,699
Irvine
Unified
School
District
,
c,d
GO,
2021
C,
2.25%,
9/01/50
.........................................
2,500,000
2,409,425
Special
Tax,
2020
A,
4%,
9/01/27
......................................
1,745,000
2,066,618
Special
Tax,
2020
A,
4%,
9/01/28
......................................
1,135,000
1,363,804
Special
Tax,
2020
A,
5%,
9/01/29
......................................
1,920,000
2,487,363
Special
Tax,
2020
A,
5%,
9/01/30
......................................
1,910,000
2,515,442
Special
Tax,
2020
A,
5%,
9/01/32
......................................
755,000
981,040
Special
Tax,
2020
A,
4%,
9/01/34
......................................
2,300,000
2,724,153
Special
Tax,
2020
A,
4%,
9/01/35
......................................
1,460,000
1,723,958
Special
Tax,
2020
A,
4%,
9/01/36
......................................
1,320,000
1,551,484
Special
Tax,
2020
A,
4%,
9/01/37
......................................
1,355,000
1,585,730
Special
Tax,
2020
A,
4%,
9/01/38
......................................
2,735,000
3,188,237
Special
Tax,
2020
A,
4%,
9/01/39
......................................
2,905,000
3,374,185
Community
Facilities
District
No.
09-1,
Special
Tax,
2019
A,
5%,
9/01/29
........
185,000
242,938
Community
Facilities
District
No.
09-1,
Special
Tax,
2019
A,
5%,
9/01/30
........
210,000
273,573
Community
Facilities
District
No.
09-1,
Special
Tax,
2019
A,
5%,
9/01/31
........
175,000
226,591
Community
Facilities
District
No.
09-1,
Special
Tax,
2019
A,
5%,
9/01/32
........
185,000
238,580
Community
Facilities
District
No.
09-1,
Special
Tax,
2019
A,
5%,
9/01/33
........
200,000
256,364
Community
Facilities
District
No.
09-1,
Special
Tax,
2019
A,
5%,
9/01/34
........
225,000
287,293
Community
Facilities
District
No.
09-1,
Special
Tax,
2019
A,
5%,
9/01/36
........
265,000
334,879
Community
Facilities
District
No.
09-1,
Special
Tax,
2019
A,
4%,
9/01/37
........
285,000
331,425
Community
Facilities
District
No.
09-1,
Special
Tax,
2019
A,
4%,
9/01/38
........
275,000
318,662
Community
Facilities
District
No.
09-1,
Special
Tax,
2019
A,
4%,
9/01/39
........
315,000
363,816
Community
Facilities
District
No.
09-1,
Special
Tax,
2019
A,
4%,
9/01/40
........
350,000
402,964
Jurupa
Public
Financing
Authority
,
Special
Tax,
2013
A,
AGMC
Insured,
5%,
9/01/30
..........................
2,750,000
3,046,053
Special
Tax,
2013
A,
AGMC
Insured,
5%,
9/01/33
..........................
5,000,000
5,533,549
Special
Tax,
2014A,
Refunding,
5%,
9/01/27
.............................
1,000,000
1,146,266
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
(continued)
Quarterly
Statement
of
Investments
See
Notes
to
Statement
of
Investments.
10
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
California
(continued)
Jurupa
Public
Financing
Authority,
(continued)
Special
Tax,
2014A,
Refunding,
5%,
9/01/28
.............................
$
1,275,000
$
1,461,399
Special
Tax,
2014A,
Refunding,
5%,
9/01/29
.............................
530,000
607,322
Special
Tax,
2015A,
Refunding,
5%,
9/01/26
.............................
1,855,000
2,208,106
Special
Tax,
2015A,
Refunding,
5%,
9/01/27
.............................
1,000,000
1,186,211
Special
Tax,
2015A,
Refunding,
5%,
9/01/28
.............................
1,025,000
1,213,322
Special
Tax,
2015A,
Refunding,
5%,
9/01/29
.............................
1,155,000
1,366,196
Special
Tax,
2015A,
Refunding,
5%,
9/01/30
.............................
1,510,000
1,785,967
Special
Tax,
2015A,
Refunding,
5%,
9/01/31
.............................
1,190,000
1,407,169
Special
Tax,
2015A,
Refunding,
5%,
9/01/32
.............................
2,505,000
2,960,196
Special
Tax,
2015A,
Refunding,
5%,
9/01/33
.............................
2,635,000
3,110,651
Special
Tax,
2020A,
Refunding,
BAM
Insured,
4%,
9/01/32
...................
700,000
826,428
Special
Tax,
2020A,
Refunding,
BAM
Insured,
4%,
9/01/36
...................
1,175,000
1,358,106
Lake
Elsinore
Public
Financing
Authority
,
Special
Tax
,
2015
,
Refunding
,
5
%
,
9/01/30
.
4,970,000
5,694,548
Lammersville
Joint
Unified
School
District
,
Community
Facilities
District
No.
200
,
Special
Tax
,
2017
,
Refunding
,
5
%
,
9/01/33
...............................
1,575,000
1,856,727
Lee
Lake
Public
Financing
Authority
,
Special
Tax,
Junior
Lien,
2013B,
5%,
9/01/27
.............................
1,400,000
1,522,962
Special
Tax,
Junior
Lien,
2013B,
5.25%,
9/01/29
...........................
810,000
879,073
Los
Angeles
Community
College
District
,
GO
,
2015A
,
Pre-Refunded
,
5
%
,
8/01/26
...
15,000,000
17,350,352
Los
Angeles
County
Metropolitan
Transportation
Authority
,
Revenue,
2014-A,
Refunding,
5%,
7/01/26
...............................
6,315,000
7,262,756
Revenue,
2014-A,
Refunding,
5%,
7/01/27
...............................
6,630,000
7,615,757
Revenue,
2017A,
5%,
7/01/38
........................................
1,755,000
2,166,966
Revenue,
Senior
Lien,
2012-B,
Refunding,
5%,
7/01/23
.....................
5,000,000
5,303,365
Los
Angeles
County
Sanitation
Districts
Financing
Authority
,
Revenue
,
2011A
,
Pre-
Refunded
,
5
%
,
10/01/22
.............................................
2,750,000
2,816,534
Los
Angeles
Department
of
Water
,
Revenue,
2016
A,
Refunding,
5%,
7/01/37
...............................
10,450,000
12,396,497
Revenue,
2018
B,
Refunding,
5%,
7/01/34
...............................
2,500,000
3,174,836
Revenue,
2020
C,
Refunding,
5%,
7/01/32
...............................
1,750,000
2,334,395
Revenue,
2020
C,
Refunding,
5%,
7/01/33
...............................
2,500,000
3,320,506
Revenue,
2020
C,
Refunding,
5%,
7/01/34
...............................
2,750,000
3,638,992
Revenue,
2020
C,
Refunding,
5%,
7/01/35
...............................
1,335,000
1,761,690
Revenue,
2020
C,
Refunding,
5%,
7/01/36
...............................
4,500,000
5,916,592
Revenue,
2020A,
Refunding,
5%,
7/01/35
...............................
335,000
442,072
Revenue,
2020A,
Refunding,
5%,
7/01/36
...............................
725,000
953,229
Revenue,
2020A,
Refunding,
5%,
7/01/37
...............................
950,000
1,244,639
Revenue,
2020A,
Refunding,
5%,
7/01/40
...............................
10,000,000
12,953,116
Los
Angeles
Department
of
Water
&
Power
,
Power
System,
Revenue,
2013A,
5%,
7/01/25
............................
5,135,000
5,559,657
Power
System,
Revenue,
2014
C,
5%,
7/01/27
............................
10,000,000
11,476,334
Power
System,
Revenue,
2014
D,
5%,
7/01/26
............................
2,600,000
2,986,571
Power
System,
Revenue,
2014
D,
5%,
7/01/27
............................
2,000,000
2,295,267
Power
System,
Revenue,
2014
D,
5%,
7/01/28
............................
2,550,000
2,922,907
Power
System,
Revenue,
2016B,
5%,
7/01/30
............................
3,000,000
3,592,682
Power
System,
Revenue,
2016B,
5%,
7/01/31
............................
6,700,000
8,006,386
Power
System,
Revenue,
2017B,
Refunding,
5%,
7/01/34
...................
23,350,000
28,664,995
Los
Angeles
Unified
School
District
,
GO,
2011A-1,
Refunding,
5%,
7/01/23
..................................
13,335,000
14,759,283
GO,
2011A-2,
Refunding,
5%,
7/01/21
..................................
5,000,000
5,058,498
GO,
2016
A,
Refunding,
5%,
7/01/29
...................................
5,000,000
5,921,589
GO,
2016B,
Refunding,
5%,
7/01/30
....................................
30,000,000
36,480,159
GO,
2020
RYQ,
4%,
7/01/36
.........................................
5,000,000
6,002,003
Manteca
Unified
School
District
,
Community
Facilities
District
No.
1989-2,
Special
Tax,
2013
F,
AGMC
Insured,
5%,
9/01/22
........................................................
1,000,000
1,066,310
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
(continued)
See
Notes
to
Statement
of
Investments.
Quarterly
Statement
of
Investments
11
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
California
(continued)
Manteca
Unified
School
District,
(continued)
Community
Facilities
District
No.
1989-2,
Special
Tax,
2013
F,
AGMC
Insured,
5%,
9/01/26
........................................................
$
1,280,000
$
1,419,385
Martinez
Unified
School
District
,
GO
,
2011
,
Refunding
,
5.375
%
,
8/01/26
..........
5,000,000
5,809,434
Menifee
Union
School
District
Public
Financing
Authority
,
Special
Tax,
2016A,
Refunding,
5%,
9/01/25
.............................
1,200,000
1,381,348
Special
Tax,
2017A,
5%,
9/01/25
......................................
1,405,000
1,620,578
Special
Tax,
2017A,
5%,
9/01/28
......................................
1,250,000
1,464,125
Special
Tax,
2017A,
5%,
9/01/30
......................................
1,550,000
1,805,026
Metropolitan
Water
District
of
Southern
California
,
Revenue,
2011
C,
Refunding,
5%,
10/01/26
..............................
8,010,000
8,201,912
Revenue,
2014E,
Refunding,
5%,
7/01/23
...............................
20,000,000
22,169,508
Revenue,
2014E,
Refunding,
5%,
7/01/24
...............................
1,110,000
1,278,922
Revenue,
2016A,
Refunding,
5%,
7/01/28
...............................
5,000,000
6,039,681
Revenue,
2020
C,
Refunding,
5%,
7/01/38
...............................
18,000,000
23,639,485
Revenue,
2021
A,
5%,
10/01/31
.......................................
1,175,000
1,609,669
Revenue,
2021
A,
5%,
10/01/32
.......................................
1,000,000
1,363,554
Revenue,
2021
A,
5%,
10/01/33
.......................................
1,750,000
2,375,390
Revenue,
2021
A,
5%,
10/01/34
.......................................
1,435,000
1,940,956
Revenue,
2021
A,
5%,
10/01/35
.......................................
1,100,000
1,482,991
Revenue,
2021
A,
5%,
10/01/36
.......................................
1,175,000
1,577,876
Miracosta
Community
College
District
,
GO,
B,
4%,
8/01/33
................................................
1,030,000
1,269,825
GO,
B,
4%,
8/01/34
................................................
1,725,000
2,115,410
Moreno
Valley
Unified
School
District
,
GO,
2007,
Refunding,
NATL
Insured,
Zero
Cpn.,
8/01/24
....................
7,500,000
7,294,239
Community
Facilities
District
No.
2016-1,
Special
Tax,
2020,
4%,
9/01/31
........
120,000
139,129
Community
Facilities
District
No.
2016-1,
Special
Tax,
2020,
4%,
9/01/32
........
130,000
149,979
Community
Facilities
District
No.
2016-1,
Special
Tax,
2020,
4%,
9/01/33
........
140,000
160,914
Community
Facilities
District
No.
2016-1,
Special
Tax,
2020,
4%,
9/01/34
........
150,000
171,576
Community
Facilities
District
No.
2016-1,
Special
Tax,
2020,
4%,
9/01/35
........
165,000
187,249
Community
Facilities
District
No.
2016-1,
Special
Tax,
2020,
2.5%,
9/01/36
.......
175,000
172,130
Community
Facilities
District
No.
2016-1,
Special
Tax,
2020,
2.5%,
9/01/37
.......
190,000
185,374
Community
Facilities
District
No.
2016-1,
Special
Tax,
2020,
2.625%,
9/01/38
.....
200,000
197,287
Community
Facilities
District
No.
2016-1,
Special
Tax,
2020,
2.625%,
9/01/39
.....
210,000
205,968
Community
Facilities
District
No.
2016-1,
Special
Tax,
2020,
2.75%,
9/01/40
......
225,000
224,250
Mount
Diablo
Unified
School
District
,
GO
,
B-2
,
Refunding
,
5
%
,
7/01/27
...........
3,200,000
3,391,261
Mount
San
Antonio
Community
College
District
,
GO
,
2013
A
,
Zero
Cpn.,
8/01/28
....
6,000,000
7,032,095
Mountain
House
Public
Financing
Authority
,
Mountain
House
Community
Services
District,
Revenue,
2020
A,
BAM
Insured,
4%,
12/01/32
.......................................................
400,000
479,688
Mountain
House
Community
Services
District,
Revenue,
2020
A,
BAM
Insured,
4%,
12/01/33
.......................................................
325,000
388,009
Mountain
House
Community
Services
District,
Revenue,
2020
A,
BAM
Insured,
4%,
12/01/34
.......................................................
300,000
355,850
Mountain
House
Community
Services
District,
Revenue,
2020
A,
BAM
Insured,
4%,
12/01/35
.......................................................
325,000
384,181
Mountain
House
Community
Services
District,
Revenue,
2020
A,
BAM
Insured,
4%,
12/01/36
.......................................................
310,000
365,016
Mountain
House
Community
Services
District,
Revenue,
2020
A,
BAM
Insured,
4%,
12/01/37
.......................................................
300,000
352,037
Mountain
House
Community
Services
District,
Revenue,
2020
A,
BAM
Insured,
4%,
12/01/38
.......................................................
300,000
349,484
Mountain
House
Community
Services
District,
Revenue,
2020
A,
BAM
Insured,
4%,
12/01/39
.......................................................
275,000
319,503
Mountain
House
Community
Services
District,
Revenue,
2020
B,
BAM
Insured,
4%,
12/01/35
.......................................................
1,000,000
1,177,276
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
(continued)
Quarterly
Statement
of
Investments
See
Notes
to
Statement
of
Investments.
12
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
California
(continued)
Murrieta
Financing
Authority
,
Special
Tax,
2012,
Refunding,
5%,
9/01/22
...............................
$
1,495,000
$
1,585,182
Special
Tax,
2012,
Refunding,
5%,
9/01/24
...............................
1,810,000
1,923,897
Special
Tax,
2012,
Refunding,
5%,
9/01/25
...............................
1,000,000
1,060,664
New
Haven
Unified
School
District
,
GO,
2012,
Refunding,
AGMC
Insured,
Zero
Cpn.,
8/01/22
...................
11,750,000
11,687,742
GO,
2012,
Refunding,
AGMC
Insured,
Zero
Cpn.,
8/01/23
...................
3,200,000
3,157,559
Oro
Grande
Elementary
School
District
,
COP,
2020,
Refunding,
4%,
9/15/29
....................................
2,595,000
2,861,448
COP,
2020,
Refunding,
4%,
9/15/30
....................................
2,700,000
2,955,851
COP,
2020,
Refunding,
4%,
9/15/31
....................................
2,805,000
3,043,277
COP,
2020,
Refunding,
4%,
9/15/32
....................................
1,600,000
1,730,127
Oxnard
Financing
Authority
,
Special
Tax,
Senior
Lien
,
2012A
,
5
%
,
9/02/26
.........
1,020,000
1,083,072
Port
of
Oakland
,
Revenue,
2021
H,
Refunding,
5%,
5/01/29
...............................
1,900,000
2,402,241
Revenue,
2021
H,
Refunding,
5%,
11/01/29
..............................
2,000,000
2,547,974
Poway
Unified
School
District
,
Community
Facilities
District
No.
16,
Special
Tax,
2020,
AGMC
Insured,
5%,
9/01/32
100,000
129,838
Community
Facilities
District
No.
16,
Special
Tax,
2020,
AGMC
Insured,
4%,
9/01/34
500,000
598,404
Community
Facilities
District
No.
16,
Special
Tax,
2020,
AGMC
Insured,
4%,
9/01/36
715,000
849,849
Community
Facilities
District
No.
16,
Special
Tax,
2020,
AGMC
Insured,
4%,
9/01/38
835,000
978,047
Community
Facilities
District
No.
16,
Special
Tax,
2020,
AGMC
Insured,
4%,
9/01/40
965,000
1,124,115
Poway
Unified
School
District
Public
Financing
Authority
,
Special
Tax,
2014,
BAM
Insured,
5%,
10/01/31
............................
1,700,000
1,891,814
Special
Tax,
2014,
BAM
Insured,
5%,
10/01/32
............................
1,845,000
2,052,200
Special
Tax,
2017A,
Refunding,
5%,
9/01/27
.............................
1,375,000
1,691,058
Special
Tax,
2017A,
Refunding,
5%,
9/01/30
.............................
2,255,000
2,750,540
River
Islands
Public
Financing
Authority
,
Lathrop
Irrigation
District
Electric,
Revenue,
2020,
AGMC
Insured,
4%,
9/01/35
...
625,000
735,639
Lathrop
Irrigation
District
Electric,
Revenue,
2020,
AGMC
Insured,
4%,
9/01/40
...
1,665,000
1,924,132
Riverside
Community
College
District
,
GO
,
2014
A
,
Refunding
,
5
%
,
8/01/27
.......
3,550,000
4,087,218
Riverside
County
Redevelopment
Successor
Agency
,
Tax
Allocation,
2011B,
6.5%,
10/01/25
..................................
1,225,000
1,263,125
Tax
Allocation,
Second
Lien,
2011D,
ETM,
6.5%,
12/01/21
...................
160,000
166,567
Tax
Allocation,
Second
Lien,
2011D,
Pre-Refunded,
6.75%,
12/01/26
...........
1,025,000
1,068,748
Riverside
County
Transportation
Commission
,
Revenue,
2013
A,
Pre-Refunded,
5.25%,
6/01/25
..........................
3,500,000
3,881,582
Revenue,
2013
A,
Pre-Refunded,
5.25%,
6/01/27
..........................
4,000,000
4,436,094
Revenue,
2017B,
Refunding,
5%,
6/01/38
...............................
7,805,000
9,768,371
Riverside
Unified
School
District
,
Community
Facilities
District
No.
33,
Special
Tax,
2021,
4%,
9/01/45
...........
375,000
407,798
Community
Facilities
District
No.
33,
Special
Tax,
2021,
4%,
9/01/50
...........
600,000
651,252
RNR
School
Financing
Authority
,
Community
Facilities
District
No.
92-1
,
Special
Tax
,
2017
A
,
BAM
Insured
,
5
%
,
9/01/27
.....................................
1,035,000
1,255,946
Romoland
School
District
,
Community
Facilities
District
No.
2004-1,
Special
Tax,
2015,
Refunding,
5%,
9/01/27
1,000,000
1,166,783
Community
Facilities
District
No.
2004-1,
Special
Tax,
2015,
Refunding,
5%,
9/01/28
1,960,000
2,273,882
Community
Facilities
District
No.
2004-1,
Special
Tax,
2015,
Refunding,
5%,
9/01/29
2,130,000
2,457,415
Community
Facilities
District
No.
2004-1,
Special
Tax,
2015,
Refunding,
5%,
9/01/30
2,310,000
2,646,762
Community
Facilities
District
No.
2004-1,
Special
Tax,
2015,
Refunding,
5%,
9/01/31
2,495,000
2,846,665
Community
Facilities
District
No.
2004-1,
Special
Tax,
2015,
Refunding,
5%,
9/01/32
2,690,000
3,061,002
Community
Facilities
District
No.
91-1,
Special
Tax,
2017,
Refunding,
5%,
9/01/36
.
1,130,000
1,329,865
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
(continued)
See
Notes
to
Statement
of
Investments.
Quarterly
Statement
of
Investments
13
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
California
(continued)
Sacramento
City
Financing
Authority
,
Special
Tax
,
2013
A
,
Refunding
,
AGMC
Insured
,
5
%
,
9/01/21
......................................................
$
1,305,000
$
1,330,920
Sacramento
County
Sanitation
Districts
Financing
Authority
,
Revenue
,
2014A
,
Refunding
,
5
%
,
12/01/29
............................................
2,000,000
2,279,059
Sacramento
Municipal
Utility
District
,
Revenue,
2011
X,
5%,
8/15/25
........................................
7,445,000
7,576,200
Electric
System,
Revenue,
2020
H,
5%,
8/15/36
...........................
7,465,000
9,831,882
San
Bernardino
County
Transportation
Authority
,
Revenue,
2014A,
5%,
3/01/30
........................................
2,685,000
3,027,279
Revenue,
2014A,
5%,
3/01/31
........................................
5,090,000
5,737,288
San
Diego
County
Regional
Airport
Authority
,
Revenue,
2019
A,
Refunding,
5%,
7/01/34
...............................
3,600,000
4,535,231
Revenue,
2019
A,
Refunding,
5%,
7/01/35
...............................
3,750,000
4,712,427
Revenue,
2019
A,
Refunding,
5%,
7/01/36
...............................
5,000,000
6,262,512
Revenue,
2019
A,
Refunding,
5%,
7/01/39
...............................
5,500,000
6,830,625
San
Diego
County
Regional
Transportation
Commission
,
Revenue,
2021
B,
Refunding,
5%,
4/01/45
...............................
4,500,000
5,823,053
Revenue,
2021
B,
Refunding,
5%,
4/01/48
...............................
6,000,000
7,737,426
San
Diego
Public
Facilities
Financing
Authority
,
City
of
San
Diego
Water
Utility,
Revenue,
2020
A,
5%,
8/01/34
................
850,000
1,127,759
City
of
San
Diego
Water
Utility,
Revenue,
2020
A,
5%,
8/01/35
................
850,000
1,124,513
San
Francisco
Bay
Area
Rapid
Transit
District
,
GO,
2013C,
5%,
8/01/27
............................................
2,640,000
2,927,189
GO,
2013C,
5%,
8/01/28
............................................
3,500,000
3,879,017
GO,
2020
C-1,
4%,
8/01/33
..........................................
2,250,000
2,732,598
GO,
2020
C-1,
4%,
8/01/34
..........................................
4,000,000
4,834,672
GO,
2020
C-1,
4%,
8/01/35
..........................................
1,600,000
1,928,693
San
Francisco
City
&
County
Airport
Comm-San
Francisco
International
Airport
,
Revenue,
Second
Series,
2019E,
5%,
5/01/37
............................
5,000,000
6,166,821
Revenue,
Second
Series,
2019H,
Refunding,
5%,
5/01/24
...................
15,040,000
17,124,269
SFO
Fuel
Co.
LLC,
Revenue,
2019
A,
Refunding,
5%,
1/01/33
................
1,000,000
1,241,340
SFO
Fuel
Co.
LLC,
Revenue,
2019
A,
Refunding,
5%,
1/01/34
................
1,335,000
1,651,254
SFO
Fuel
Co.
LLC,
Revenue,
2019
A,
Refunding,
5%,
1/01/35
................
1,000,000
1,233,852
SFO
Fuel
Co.
LLC,
Revenue,
2019
A,
Refunding,
5%,
1/01/36
................
1,000,000
1,230,330
San
Francisco
City
&
County
Redevelopment
Agency
Successor
Agency
,
Hotel
Tax,
Revenue,
2011,
Refunding,
AGMC
Insured,
5%,
6/01/24
............
10,275,000
10,348,126
Mission
Bay
South
Redevelopment
Area
Tax
Increment
Financing
District,
Tax
Allocation,
2014A,
5%,
8/01/30
......................................
1,080,000
1,211,508
Mission
Bay
South
Redevelopment
Area
Tax
Increment
Financing
District,
Tax
Allocation,
2014A,
5%,
8/01/34
......................................
1,110,000
1,236,513
San
Jacinto
Unified
School
District
Financing
Authority
,
Community
Facilities
District
No.
2003-2
,
Special
Tax
,
2019
,
5
%
,
9/01/36
..............................
1,200,000
1,402,991
San
Joaquin
Hills
Transportation
Corridor
Agency
,
Revenue,
1997
A,
Refunding,
NATL
Insured,
Zero
Cpn.,
1/15/26
...............
19,000,000
17,496,821
Revenue,
Senior
Lien,
2014A,
Refunding,
5%,
1/15/29
......................
10,000,000
11,430,546
San
Luis
&
Delta
Mendota
Water
Authority
,
Revenue
,
2013
A
,
Pre-Refunded
,
BAM
Insured
,
5
%
,
3/01/29
...............................................
1,000,000
1,091,044
San
Mateo
County
Transit
District
,
Revenue,
2015A,
Refunding,
5%,
6/01/28
...............................
3,000,000
3,544,663
Revenue,
2015A,
Refunding,
5%,
6/01/29
...............................
4,300,000
5,076,797
San
Mateo
Foster
City
Public
Financing
Authority
,
City
of
San
Mateo
Sewer,
Revenue,
2019,
5%,
8/01/34
.....................
1,000,000
1,299,038
City
of
San
Mateo
Sewer,
Revenue,
2019,
5%,
8/01/36
.....................
1,135,000
1,465,625
City
of
San
Mateo
Sewer,
Revenue,
2019,
5%,
8/01/38
.....................
1,500,000
1,925,498
San
Ysidro
School
District
,
COP,
2015,
Refunding,
BAM
Insured,
5%,
9/01/29
.........................
1,100,000
1,275,730
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
(continued)
Quarterly
Statement
of
Investments
See
Notes
to
Statement
of
Investments.
14
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
California
(continued)
San
Ysidro
School
District,
(continued)
COP,
2015,
Refunding,
BAM
Insured,
5%,
9/01/31
.........................
$
1,000,000
$
1,157,078
COP,
2015,
Refunding,
BAM
Insured,
5%,
9/01/33
.........................
1,050,000
1,213,878
Sanger
Public
Financing
Authority
,
Revenue
,
2014
,
Refunding
,
AGMC
Insured
,
5
%
,
6/15/34
.........................................................
7,000,000
8,068,890
Santa
Cruz
County
Redevelopment
Successor
Agency
,
Tax
Allocation
,
2015A
,
Refunding
,
AGMC
Insured
,
5
%
,
9/01/29
.................................
4,475,000
5,229,698
Sierra
View
Local
Health
Care
District
,
Revenue,
2020,
Refunding,
4%,
7/01/24
.................................
240,000
262,831
Revenue,
2020,
Refunding,
4%,
7/01/26
.................................
100,000
113,720
Revenue,
2020,
Refunding,
5%,
7/01/28
.................................
660,000
820,436
Revenue,
2020,
Refunding,
5%,
7/01/30
.................................
520,000
666,621
Sonoma
Community
Development
Agency
Successor
Agency
,
Tax
Allocation,
2015,
Refunding,
NATL
Insured,
5%,
6/01/29
..................
1,000,000
1,189,980
Tax
Allocation,
2015,
Refunding,
NATL
Insured,
5%,
6/01/33
..................
1,200,000
1,408,498
Sonoma-Marin
Area
Rail
Transit
District
,
Revenue,
2011
A,
Pre-Refunded,
5%,
3/01/25
............................
15,410,000
16,099,058
Revenue,
2011
A,
Pre-Refunded,
5%,
3/01/27
............................
11,945,000
12,479,121
Southern
California
Public
Power
Authority
,
Revenue
,
2015C
,
Refunding
,
5
%
,
7/01/26
5,000,000
5,834,396
State
of
California
,
GO,
Refunding,
5.25%,
9/01/22
.......................................
16,330,000
17,503,704
GO,
Refunding,
5%,
10/01/22
.........................................
15,785,000
16,928,072
GO,
Refunding,
5%,
9/01/29
.........................................
1,000,000
1,226,281
GO,
Refunding,
5%,
4/01/30
.........................................
10,000,000
12,981,635
GO,
Refunding,
5%,
11/01/31
.........................................
15,000,000
20,063,894
GO,
2012,
Refunding,
5%,
2/01/22
.....................................
15,000,000
15,603,912
GO,
2014,
5%,
12/01/27
.............................................
5,000,000
5,611,440
GO,
2014,
5%,
12/01/28
.............................................
5,000,000
5,610,023
State
of
California
Department
of
Water
Resources
,
Revenue,
AM,
5%,
12/01/23
..........................................
10,000,000
11,039,993
Revenue,
AM,
5%,
12/01/24
..........................................
8,495,000
9,376,529
Revenue,
AM,
Pre-Refunded,
5%,
12/01/25
..............................
5,000,000
5,523,965
Revenue,
AS,
ETM,
5%,
12/01/24
.....................................
35,000
40,864
Revenue,
AS,
5%,
12/01/24
..........................................
11,090,000
12,962,397
Revenue,
AS,
Pre-Refunded,
5%,
12/01/25
..............................
5,000
5,848
Revenue,
AS,
5%,
12/01/25
..........................................
6,125,000
7,156,686
Revenue,
AS,
Pre-Refunded,
5%,
12/01/26
..............................
45,000
52,540
Revenue,
AS,
5%,
12/01/26
..........................................
22,455,000
26,192,664
Revenue,
BA,
5%,
12/01/35
..........................................
12,180,000
15,782,788
Revenue,
BB,
Refunding,
5%,
12/01/34
.................................
5,000,000
6,742,368
Tobacco
Securitization
Authority
of
Northern
California
,
Sacramento
County
Tobacco
Securitization
Corp.,
Revenue,
Senior
Lien,
2021A,
1,
Refunding,
4%,
6/01/37
............................................
1,000,000
1,194,357
Sacramento
County
Tobacco
Securitization
Corp.,
Revenue,
Senior
Lien,
2021A,
1,
Refunding,
4%,
6/01/39
............................................
1,150,000
1,360,473
Tobacco
Securitization
Authority
of
Southern
California
,
San
Diego
County
Tobacco
Asset
Securitization
Corp.,
Revenue,
2019
A,
1,
Refunding,
5%,
6/01/35
............................................
1,500,000
1,916,937
San
Diego
County
Tobacco
Asset
Securitization
Corp.,
Revenue,
2019
A,
1,
Refunding,
5%,
6/01/37
............................................
1,000,000
1,267,933
San
Diego
County
Tobacco
Asset
Securitization
Corp.,
Revenue,
2019
A,
1,
Refunding,
5%,
6/01/38
............................................
500,000
632,112
Transbay
Joint
Powers
Authority
,
Transbay
Redevelopment
Project
Tax
Increment
Re-Development
Project,
Tax
Allocation,
Senior
Lien,
2020
A,
5%,
10/01/30
...........................
500,000
641,395
Transbay
Redevelopment
Project
Tax
Increment
Re-Development
Project,
Tax
Allocation,
Senior
Lien,
2020
A,
5%,
10/01/32
...........................
1,500,000
1,906,839
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
(continued)
See
Notes
to
Statement
of
Investments.
Quarterly
Statement
of
Investments
15
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
California
(continued)
Transbay
Joint
Powers
Authority,
(continued)
Transbay
Redevelopment
Project
Tax
Increment
Re-Development
Project,
Tax
Allocation,
Senior
Lien,
2020
A,
5%,
10/01/34
...........................
$
1,050,000
$
1,325,041
Tulare
County
Board
of
Education
,
COP
,
Pre-Refunded
,
BAM
Insured
,
5
%
,
5/01/28
..
1,040,000
1,143,635
Twin
Rivers
Unified
School
District
,
GO
,
2020
A
,
Refunding
,
AGMC
Insured
,
4
%
,
8/01/35
.........................................................
5,000,000
5,917,196
University
of
California
,
Revenue,
2014AM,
5%,
5/15/27
.......................................
3,000,000
3,428,400
Revenue,
2014AM,
5%,
5/15/28
.......................................
1,835,000
2,094,582
Revenue,
2016K,
5%,
5/15/37
........................................
1,000,000
1,196,169
Revenue,
2020
BE,
Refunding,
5%,
5/15/34
..............................
7,000,000
9,236,263
Revenue,
2021
Q,
Refunding,
4%,
5/15/41
...............................
7,000,000
8,374,802
Upper
Santa
Clara
Valley
Joint
Powers
Authority
,
Santa
Clarita
Valley
Water
Agency
,
Revenue
,
2020
A
,
Refunding
,
5
%
,
8/01/35
...............................
700,000
882,082
Vacaville
Unified
School
District
,
GO,
D,
4%,
8/01/35
................................................
250,000
293,779
GO,
D,
4%,
8/01/36
................................................
300,000
351,456
GO,
D,
4%,
8/01/37
................................................
300,000
350,434
GO,
D,
4%,
8/01/38
................................................
545,000
635,028
GO,
D,
4%,
8/01/39
................................................
750,000
871,857
GO,
D,
4%,
8/01/40
................................................
735,000
852,065
Washington
Township
Health
Care
District
,
Revenue,
2020
A,
Refunding,
5%,
7/01/21
...............................
375,000
378,895
Revenue,
2020
A,
Refunding,
5%,
7/01/22
...............................
200,000
210,592
Revenue,
2020
A,
Refunding,
5%,
7/01/23
...............................
200,000
218,529
Revenue,
2020
A,
Refunding,
5%,
7/01/24
...............................
200,000
225,383
Revenue,
2020
A,
Refunding,
5%,
7/01/25
...............................
215,000
248,562
Revenue,
2020
A,
Refunding,
5%,
7/01/26
...............................
275,000
325,547
Revenue,
2020
A,
Refunding,
5%,
7/01/27
...............................
400,000
483,389
Revenue,
2020
A,
Refunding,
5%,
7/01/28
...............................
400,000
490,452
Revenue,
2020
A,
Refunding,
5%,
7/01/29
...............................
350,000
434,791
Revenue,
2020
A,
Refunding,
5%,
7/01/30
...............................
325,000
408,099
Revenue,
2020
A,
Refunding,
5%,
7/01/31
...............................
350,000
436,536
Revenue,
2020
A,
Refunding,
3%,
7/01/32
...............................
800,000
839,886
Revenue,
2020
A,
Refunding,
4%,
7/01/33
...............................
275,000
313,441
Revenue,
2020
A,
Refunding,
3%,
7/01/34
...............................
870,000
891,278
Revenue,
2020
A,
Refunding,
4%,
7/01/35
...............................
300,000
337,578
Revenue,
2020
A,
Refunding,
3%,
7/01/36
...............................
1,400,000
1,420,107
Revenue,
2020
A,
Refunding,
3%,
7/01/37
...............................
725,000
732,704
Revenue,
2020
A,
Refunding,
3%,
7/01/38
...............................
750,000
755,612
West
Basin
Municipal
Water
District
,
Revenue,
2016A,
Refunding,
5%,
8/01/32
...............................
1,975,000
2,355,576
Revenue,
2016A,
Refunding,
5%,
8/01/33
...............................
2,630,000
3,134,049
Western
Municipal
Water
District
Facilities
Authority
,
Revenue
,
2020A
,
Refunding
,
5
%
,
10/01/38
........................................................
2,750,000
3,619,207
1,782,542,610
U.S.
Territories
0.9%
Guam
0.2%
Guam
Power
Authority
,
Revenue,
2012A,
Refunding,
AGMC
Insured,
5%,
10/01/22
..................
2,000,000
2,135,195
Revenue,
2012A,
Refunding,
AGMC
Insured,
5%,
10/01/21
..................
2,000,000
2,045,018
4,180,213
Puerto
Rico
0.7%
Puerto
Rico
Electric
Power
Authority
,
Revenue,
UU,
Refunding,
AGMC
Insured,
5%,
7/01/23
......................
5,000,000
5,161,998
Franklin
California
Tax-Free
Trust
Statement
of
Investments
(unaudited)
Franklin
California
Intermediate-Term
Tax-Free
Income
Fund
(continued)
Quarterly
Statement
of
Investments
See
Notes
to
Statement
of
Investments.
16
See
Abbreviations
on
page
18
.
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
U.S.
Territories
(continued)
Puerto
Rico
(continued)
Puerto
Rico
Electric
Power
Authority,
(continued)
e
Revenue,
WW-RSA-1,
5.375%,
7/01/23
.................................
$
5,000,000
$
4,556,250
Puerto
Rico
Highway
&
Transportation
Authority
,
Revenue
,
2007
N
,
Refunding
,
AGMC
Insured
,
5.25
%
,
7/01/36
.............................................
2,200,000
2,740,094
12,458,342
Total
U.S.
Territories
....................................................................
16,638,555
Total
Municipal
Bonds
(Cost
$1,687,926,452)
...................................
1,799,181,165
a
a
a
a
Short
Term
Investments
1.6%
Municipal
Bonds
1.6%
California
1.6%
f
California
Statewide
Communities
Development
Authority
,
Rady
Children's
Hospital
Obligated
Group
,
Revenue
,
2008B
,
LOC
Wells
Fargo
Bank
NA
,
Daily
VRDN
and
Put
,
0.04
%
,
8/15/47
...................................................
7,300,000
7,300,000
f
State
of
California
,
GO,
2003A-2,
Refunding,
LOC
Bank
of
Montreal,
Daily
VRDN
and
Put,
0.01%,
5/01/33
........................................................
5,200,000
5,200,000
GO,
2003A-3,
Refunding,
LOC
Bank
of
Montreal,
Daily
VRDN
and
Put,
0.02%,
5/01/33
........................................................
9,130,000
9,130,000
GO,
2004
A1,
Refunding,
LOC
Citibank
NA,
Daily
VRDN
and
Put,
0.01%,
5/01/34
.
7,115,000
7,115,000
f
University
of
California
,
Revenue
,
2013
AL-4
,
Refunding
,
Daily
VRDN
and
Put
,
0.03
%
,
5/15/48
.........................................................
500,000
500,000
29,245,000
Total
Municipal
Bonds
(Cost
$29,245,000)
......................................
29,245,000
Total
Short
Term
Investments
(Cost
$29,245,000
)
................................
29,245,000
a
Total
Investments
(Cost
$1,717,171,452)
99.4%
..................................
$1,828,426,165
Other
Assets,
less
Liabilities
0.6%
.............................................
10,552,212
Net
Assets
100.0%
...........................................................
$1,838,978,377
a
Security
was
purchased
pursuant
to
Rule
144A
or
Regulation
S
under
the
Securities
Act
of
1933.
144A
securities
may
be
sold
in
transactions
exempt
from
registration
only
to
qualified
institutional
buyers
or
in
a
public
offering
registered
under
the
Securities
Act
of
1933.
Regulation
S
securities
cannot
be
sold
in
the
United
States
without
either
an
effective
registration
statement
filed
pursuant
to
the
Securities
Act
of
1933,
or
pursuant
to
an
exemption
from
registration.
At
March
31,
2021,
the
aggregate
value
of
these
securities
was
$29,732,719,
representing
1.6%
of
net
assets.
b
The
maturity
date
shown
represents
the
mandatory
put
date.
c
Security
purchased
on
a
when-issued
basis.
d
A
portion
or
all
of
the
security
purchased
on
a
delayed
delivery
basis.
e
Defaulted
security
or
security
for
which
income
has
been
deemed
uncollectible.
f
Variable
rate
demand
notes
(VRDNs)
are
obligations
which
contain
a
floating
or
variable
interest
rate
adjustment
formula
and
an
unconditional
right
of
demand
to
receive
payment
of
the
principal
balance
plus
accrued
interest
at
specified
dates.
Unless
otherwise
noted,
the
coupon
rate
is
determined
based
on
factors
including
supply
and
demand,
underlying
credit,
tax
treatment,
and
current
short
term
rates.
The
coupon
rate
shown
represents
the
rate
at
period
end.
Franklin
California
Tax-Free
Trust
17
Quarterly
Statement
of
Investments
Notes
to
Statements
of
Investments
(unaudited)
1.
Organization
Franklin
California
Tax-Free
Trust (Trust)
is
registered
under
the
Investment
Company
Act
of
1940
(1940
Act)
as
an
open-end
management
investment
company,
consisting
of
one
fund,
Franklin
California
Intermediate
Term
Tax
Free
Income
Fund
(Fund)
and
applies
the
specialized
accounting
and
reporting
guidance
in
U.S.
Generally
Accepted
Accounting
Principles
(U.S.
GAAP). 
2. Financial
Instrument
Valuation
The
Fund's investments
in
financial
instruments
are
carried
at
fair
value
daily.
Fair
value
is
the
price
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
on
the
measurement
date.
The
Fund
calculates the
net
asset
value
(NAV)
per
share
each
business
day
as
of
4
p.m.
Eastern
time
or
the
regularly
scheduled
close
of
the
New
York
Stock
Exchange
(NYSE),
whichever
is
earlier. Under
compliance
policies
and
procedures
approved
by
the
Trust’s
Board
of
Trustees
(the
Board),
the
Fund’s
administrator
has
responsibility
for
oversight
of
valuation,
including
leading
the
cross-functional
Valuation
Committee
(VC).
The
Fund
may
utilize
independent
pricing
services,
quotations
from
securities
and
financial
instrument
dealers,
and
other
market
sources
to
determine
fair
value. 
Debt
securities
generally
trade
in
the
over-the-counter
market
rather
than
on
a
securities
exchange.
The Fund's
pricing
services
use
multiple
valuation
techniques
to
determine
fair
value.
In
instances
where
sufficient
market
activity
exists,
the
pricing
services
may
utilize
a
market-based
approach
through
which
quotes
from
market
makers
are
used
to
determine
fair
value.
In
instances
where
sufficient
market
activity
may
not
exist
or
is
limited,
the
pricing
services
also
utilize
proprietary
valuation
models
which
may
consider
market
characteristics
such
as
benchmark
yield
curves,
credit
spreads,
estimated
default
rates,
anticipated
market
interest
rate
volatility,
coupon
rates,
anticipated
timing
of
principal
repayments,
underlying
collateral,
and
other
unique
security
features
in
order
to
estimate
the
relevant
cash
flows,
which
are
then
discounted
to
calculate
the
fair
value.
The
Fund
has procedures
to
determine
the
fair
value
of
financial
instruments
for
which
market
prices
are
not
reliable
or
readily
available.
Under
these
procedures,
the
Fund
primarily employs
a
market-based
approach
which
may
use
related
or
comparable
assets
or
liabilities,
recent
transactions,
market
multiples,
book
values,
and
other
relevant
information
for
the
investment
to
determine
the
fair
value
of
the
investment.
An
income-based
valuation
approach
may
also
be
used
in
which
the
anticipated
future
cash
flows
of
the
investment
are
discounted
to
calculate
fair
value.
Discounts
may
also
be
applied
due
to
the
nature
or
duration
of
any
restrictions
on
the
disposition
of
the
investments.
Due
to
the
inherent
uncertainty
of
valuations
of
such
investments,
the
fair
values
may
differ
significantly
from
the
values
that
would
have
been
used
had
an
active
market
existed. 
3.
Concentration
of
Risk 
The
Fund
invests
a
large
percentage
of
its
total
assets
in
obligations
of
issuers
within
New
York.
Such
concentration
may
subject
the
Fund
to
risks
associated
with
industrial
or
regional
matters,
and
economic,
political
or
legal
developments
occurring
within
New
York.
In
addition,
investments
in
these
securities
are
sensitive
to
interest
rate
changes
and
credit
risk
of
the
issuer
and
may
subject
the
Fund to
increased
market
volatility.
The
market
for
these
investments
may
be
limited,
which
may
make
them
difficult
to
buy
or
sell. 
4.
Novel
Coronavirus
Pandemic 
The
global
outbreak
of
the
novel
coronavirus
disease,
known
as
COVID-19, has
caused
adverse
effects
on
many
companies,
sectors,
nations,
regions
and
the
markets
in
general, and
may
continue for
an unpredictable duration.
The
effects
of
this
pandemic
may
materially
impact
the
value
and
performance
of
the Fund, its ability
to
buy
and
sell
fund
investments
at
appropriate
valuations
and its ability
to
achieve its investment
objectives.
Franklin
California
Tax-Free
Trust
Notes
to
Statements
of
Investments
(unaudited)
18
Quarterly
Statement
of
Investments
5. Fair
Value
Measurements 
The
Fund
follows
a
fair
value
hierarchy
that
distinguishes
between
market
data
obtained
from
independent
sources
(observable
inputs)
and
the
Fund's
own
market
assumptions
(unobservable
inputs).
These
inputs
are
used
in
determining
the
value
of
the
Fund's
financial
instruments
and
are
summarized
in
the
following
fair
value
hierarchy:
•
Level
1
–
quoted
prices
in
active
markets
for
identical
financial
instruments
•
Level 2
–
other
significant
observable
inputs
(including
quoted
prices
for
similar
financial
instruments,
interest
rates,
prepayment
speed,
credit
risk,
etc.)
•
Level 3
–
significant
unobservable
inputs
(including
the
Fund's own
assumptions
in
determining
the
fair
value
of
financial
instruments
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level.
At March
31,
2021,
all
of
the
Fund's investments
in
financial
instruments
carried
at
fair
value
were
valued
using
Level
2
inputs.
6.
Subsequent
Events
The Fund
has
evaluated
subsequent
events
through
the
issuance
of
the
Statement
of
Investments
and
determined
that
no
events
have
o
ccurred
that
require
disclosure
.
Abbreviations
Selected
Portfolio
1915
Act
Improvement
Bond
Act
of
1915
ABAG
Association
of
Bay
Area
Governments
AGMC
Assured
Guaranty
Municipal
Corp.
AMBAC
American
Municipal
Bond
Assurance
Corp.
BAM
Build
America
Mutual
Assurance
Co.
COP
Certificate
of
Participation
ETM
Escrow
to
Maturity
FHLMC
Federal
Home
Loan
Mortgage
Corp.
FNMA
Federal
National
Mortgage
Association
GO
General
Obligation
LOC
Letter
of
Credit
NATL
National
Reinsurance
Corp.
For
additional
information
on
the
Fund's
significant
accounting
policies,
please
refer
to
the Fund's
most
recent
semiannual
or
annual
shareholder
report.