N-Q 1 nqform.txt FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-04787 --------- FRANKLIN NEW YORK TAX-FREE TRUST -------------------------------- (Exact name of registrant as specified in charter) ONE FRANKLIN PARKWAY, SAN MATEO, CA 94403-1906 ---------------------------------------------- (Address of principal executive offices) (Zip code) CRAIG S. TYLE, ONE FRANKLIN PARKWAY, SAN MATEO, CA 94403-1906 ------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: 650 312-2000 ------------ Date of fiscal year end: 9/30 ---- Date of reporting period: 6/30/06 ------- Item 1. Schedule of Investments. Franklin New York Tax-Free Trust QUARTERLY STATEMENTS OF INVESTMENTS JUNE 30, 2006 -------------------------------------------------------------------------------- CONTENTS Franklin New York Insured Tax-Free Income Fund ............................ 3 Franklin New York Intermediate-Term Tax-Free Income Fund .................. 7 Franklin New York Limited-Term Tax-Free Income Fund ....................... 12 Franklin New York Tax-Exempt Money Fund ................................... 14 Notes to Statements of Investments ........................................ 17 [LOGO] (R) FRANKLIN TEMPLETON INVESTMENTS FRANKLIN o Templeton o Mutual Series Quarterly Statements of Investments | 1 This page intentionally left blank. Franklin New York Tax-Free Trust STATEMENT OF INVESTMENTS, JUNE 30, 2006 (UNAUDITED)
------------------------------------------------------------------------------------------------------------------------------------ FRANKLIN NEW YORK INSURED TAX-FREE INCOME FUND PRINCIPAL AMOUNT VALUE ------------------------------------------------------------------------------------------------------------------------------------ LONG TERM INVESTMENTS 100.2% MUNICIPAL BONDS 100.2% NEW YORK 100.2% Amherst IDA Civic Facility Revenue, University of Buffalo Foundation, Student Housing, Creekside Project, Series A, AMBAC Insured, 5.00%, 8/01/32 ............................... $ 2,785,000 $ 2,844,738 Babylon IDA Civic Facility Revenue, Winthrop South Nassau University Health Systems East Inc. Project, Series A, AMBAC Insured, 6.00%, 8/01/24 .................................... 4,020,000 4,286,727 Brookhaven GO, Series B, MBIA Insured, 7.00%, 5/01/09 ...................................... 200,000 216,554 Buffalo Municipal Water Finance Authority Water System Revenue, FSA Insured, Pre-Refunded, 6.00%, 7/01/26 ................................................................................. 1,185,000 1,266,101 7/01/29 ................................................................................. 3,000,000 3,205,320 Central Square GO, Central School District, FGIC Insured, ETM, 6.50%, 6/15/09 .............. 900,000 965,187 Eastport South Manor Central School District GO, FGIC Insured, 5.00%, 6/15/20 .............. 1,000,000 1,036,740 Erie County GO, Sewer District, Series B, MBIA Insured, 5.00%, 12/01/35 .................... 2,000,000 2,042,040 Fredonia Central School District GO, Refunding, FGIC Insured, 5.00%, 6/01/19 ............... 2,300,000 2,391,540 Hempstead Town IDA Civic Facilities Revenue, Hofstra University Project, MBIA Insured, 5.80%, 7/01/15 ........................................................................... 1,340,000 1,369,051 Irvington Union Free School District GO, Refunding, FSA Insured, 5.00%, 4/01/32 ............ 5,330,000 5,466,128 Long Island Power Authority Electric System Revenue, General, Refunding, Series A, FSA Insured, 5.125%, 12/01/22 ...................................... 3,295,000 3,381,724 Refunding, Series A, XLCA Insured, 5.00%, 12/01/26 ...................................... 7,310,000 7,510,879 Series A, FSA Insured, Pre-Refunded, 5.125%, 12/01/22 ................................... 1,705,000 1,762,544 Series A, MBIA Insured, Pre-Refunded, 5.75%, 12/01/24 ................................... 1,540,000 1,609,469 Madison County IDA Civic Facility Revenue, Colgate University Project, Series A, AMBAC Insured, 5.00%, 7/01/35 ..................... 6,165,000 6,308,336 College University Project, Series A, MBIA Insured, 5.00%, 7/01/39 ...................... 3,750,000 3,814,162 Morrisville State College Foundation, Series A, CIFG Insured, 5.00%, 6/01/37 ............ 1,000,000 1,010,850 Middle Country Central School District Centereach GO, FSA Insured, 4.875%, 6/01/20 ......... 1,650,000 1,692,009 Monroe County IDA Civic Facility Revenue, Nazareth College Rochester Project, MBIA Insured, 5.25%, 10/01/21 ......................................................................... 1,520,000 1,597,307 5.00%, 10/01/31 ......................................................................... 3,100,000 3,169,719 Mount Sinai Union Free School District, Refunding, AMBAC Insured, 6.20%, 2/15/13 ........... 1,055,000 1,184,660 MTA Commuter Facilities Revenue, Series A, FSA Insured, Pre-Refunded, 5.00%, 7/01/23 ....... 3,000,000 3,148,200 MTA Dedicated Tax Fund Revenue, Refunding, Series A, MBIA Insured, 5.00%, 11/15/30 ...................................... 8,000,000 8,174,240 Series A, FGIC Insured, Pre-Refunded, 6.00%, 4/01/30 .................................... 2,500,000 2,681,600 Series A, FGIC Insured, Pre-Refunded, 5.00%, 11/15/31 ................................... 2,000,000 2,105,360 a Series A, MBIA Insured, 5.00%, 11/15/35 ................................................. 6,000,000 6,155,820 MTA Revenue, Refunding, Series A, FGIC Insured, 5.25%, 11/15/31 ...................................... 4,000,000 4,204,680 Series A, AMBAC Insured, 5.00%, 11/15/33 ................................................ 8,000,000 8,185,680 MTA Service Contract Revenue, Refunding, AMBAC Insured, 5.00%, 7/01/30 ................................................ 7,000,000 7,133,980 Series B, MBIA Insured, 5.00%, 1/01/31 .................................................. 3,000,000 3,057,420 Nassau County GO, Public Improvement, Series E, FSA Insured, Pre-Refunded, 6.00%, 3/01/20 .. 1,510,000 1,617,421 Nassau Health Care Corp. Health System Revenue, Nassau County Guaranteed, FSA Insured, Pre-Refunded, 5.75%, 8/01/29 ............................................................. 2,655,000 2,841,275
Quarterly Statements of Investments | 3 Franklin New York Tax-Free Trust STATEMENT OF INVESTMENTS, JUNE 30, 2006 (UNAUDITED) (CONTINUED)
------------------------------------------------------------------------------------------------------------------------------------ FRANKLIN NEW YORK INSURED TAX-FREE INCOME FUND PRINCIPAL AMOUNT VALUE ------------------------------------------------------------------------------------------------------------------------------------ LONG TERM INVESTMENTS (CONTINUED) MUNICIPAL BONDS (CONTINUED) NEW YORK (CONTINUED) New York City GO, Series A, MBIA Insured, 6.00%, 5/15/30 .................................................. $ 15,000 $ 16,152 Series A, MBIA Insured, Pre-Refunded, 6.00%, 5/15/30 .................................... 1,985,000 2,150,708 Series I, MBIA Insured, 5.00%, 4/15/29 .................................................. 2,930,000 2,993,376 Series I, MBIA Insured, Pre-Refunded, 5.00%, 4/15/29 .................................... 70,000 72,687 New York City Health and Hospital Corp. Revenue, Health System, Series A, FSA Insured, 5.125%, 2/15/23 .......................................................................... 3,890,000 4,018,876 New York City IDA Civic Facility Revenue, Polytechnic Prep Country Day School, FSA Insured, 5.375%, 5/01/29 .......................................................................... 980,000 1,025,011 New York City Municipal Water Authority Revenue, Refunding, Series E, FGIC Insured, 5.00%, 6/15/26 .................................................................................. 1,000,000 1,028,150 New York City Municipal Water Finance Authority Water and Sewer System Revenue, Refunding, Series B, FGIC Insured, 5.125%, 6/15/31 ...................................... 5,000,000 5,136,950 Series B, MBIA Insured, Pre-Refunded, 5.50%, 6/15/27 .................................... 5,000,000 5,130,250 Series G, FSA Insured, 5.00%, 6/15/34 ................................................... 3,000,000 3,055,080 New York City Transitional Finance Authority Revenue, Future Tax Secured, Series A, FGIC Insured, 5.00%, 5/01/28 .................................................. 5,915,000 6,026,084 Series A, FGIC Insured, Pre-Refunded, 5.00%, 5/01/28 .................................... 85,000 89,067 Series C, 4.75%, 5/01/23 ................................................................ 1,800,000 1,814,886 Series D, MBIA Insured, 5.00%, 2/01/22 .................................................. 2,000,000 2,056,260 New York City Transportation Authority MTA Triborough Bridge and Tunnel Authority COP, AMBAC Insured, Pre-Refunded, 5.75%, 1/01/20 .............................................. 3,000,000 3,206,490 New York City Transportation Authority MTA Triborough COP, Series A, AMBAC Insured, Pre-Refunded, 5.25%, 1/01/29 ............................................................. 3,500,000 3,684,380 New York City Trust Cultural Resources Revenue, American Museum of Natural History, Series A, MBIA Insured, 5.65%, 4/01/27 .............. 2,000,000 2,045,940 Museum of Modern Art 2001, Series D, AMBAC Insured, 5.125%, 7/01/31 ..................... 7,500,000 7,751,475 New York Botanical Garden, MBIA Insured, 5.75%, 7/01/16 ................................. 2,000,000 2,020,000 New York Convention Center Development Corp. Revenue, Hotel Unit Fee Secured, AMBAC Insured, 5.00%, 11/15/35 ................................................................................ 5,675,000 5,789,465 11/15/44 ................................................................................ 13,000,000 13,164,060 New York State Appropriated Tobacco Corp. Revenue, Asset-Backed, Series A-1, AMBAC Insured, 5.25%, 6/01/21 ............................................................ 6,000,000 6,300,540 New York State Dormitory Authority Lease Revenue, Master Boces Program, Series A, FSA Insured, 5.25%, 8/15/21 .............................................................. 1,740,000 1,814,194 New York State Dormitory Authority Revenue, Iona College, XLCA Insured, 5.125%, 7/01/32 ............................................. 4,000,000 4,132,000 School Districts Financing Program, Series D, MBIA Insured, 5.25%, 10/01/23 ............. 1,750,000 1,854,703 School Districts Financing Program, Series D, MBIA Insured, 5.00%, 10/01/30 ............. 1,750,000 1,792,228 New York State Dormitory Authority Revenues, 853 Schools Program, Issue 2, Series E, AMBAC Insured, 5.75%, 7/01/19 ................... 1,340,000 1,420,011 City University System Consolidated, Third General, Series 1, FSA Insured, Pre-Refunded, 5.50%, 7/01/29 ........................................................................ 1,585,000 1,671,319 Department of Health, MBIA Insured, Pre-Refunded, 5.50%, 7/01/25 ........................ 2,000,000 2,040,000 Good Samaritan Hospital Medical Center, Series A, MBIA Insured, 5.50%, 7/01/24 .......... 2,000,000 2,096,800
4 | Quarterly Statements of Investments Franklin New York Tax-Free Trust STATEMENT OF INVESTMENTS, JUNE 30, 2006 (UNAUDITED) (CONTINUED)
------------------------------------------------------------------------------------------------------------------------------------ FRANKLIN NEW YORK INSURED TAX-FREE INCOME FUND PRINCIPAL AMOUNT VALUE ------------------------------------------------------------------------------------------------------------------------------------ LONG TERM INVESTMENTS (CONTINUED) MUNICIPAL BONDS (CONTINUED) NEW YORK (CONTINUED) New York State Dormitory Authority Revenues, (continued) Insured Mortgage Nursing Home, MBIA Insured, 5.40%, 2/01/31 ............................. $ 400,000 $ 418,412 Insured Mortgage Nursing Home, MBIA Insured, 5.50%, 2/01/41 ............................. 1,880,000 1,970,578 Maimonides Medical Center, MBIA Insured, 5.00%, 8/01/24 ................................. 6,540,000 6,701,146 Maimonides Medical Center, Series A, MBIA Insured, 5.75%, 8/01/24 ....................... 1,500,000 1,532,010 Mental Health Services Facilities Improvement, Series A, MBIA Insured, Pre-Refunded, 5.25%, 8/15/26 ........................................................................ 2,570,000 2,729,186 Mental Health Services, Refunding, Series B, MBIA Insured, 5.00%, 2/15/24 ............... 285,000 292,128 Mental Health Services, Series B, MBIA Insured, Pre-Refunded, 5.00%, 2/15/24 ............ 1,975,000 2,047,660 Mental Health Services, Series D, FSA Insured, Pre-Refunded, 5.25%, 2/15/29 ............. 2,000,000 2,095,196 Montefiore Hospital, FGIC Insured, 5.00%, 8/01/33 ....................................... 11,000,000 11,191,400 New York University, Series 2, AMBAC Insured, 5.00%, 7/01/23 ............................ 885,000 904,169 Non State Supported Debt, Educational Housing Services, Student, AMBAC Insured, 5.25%, 7/01/30 ............................................................................... 5,150,000 5,633,224 Non State Supported Debt, Hospital Special Surgery, MBIA Insured, 5.00%, 8/15/29 ........ 2,500,000 2,557,800 Non State Supported Debt, NYSARC Inc., Refunding, Series A, FSA Insured, 5.00%, 7/01/34 ............................................................................... 5,510,000 5,630,008 Non State Supported Debt, Siena College, MBIA Insured, 5.00%, 7/01/24 ................... 1,125,000 1,167,086 NYSARC Inc., Series A, FSA Insured, 5.00%, 7/01/26 ...................................... 1,700,000 1,752,513 Pace University, MBIA Insured, Pre-Refunded, 5.75%, 7/01/26 ............................. 6,500,000 6,752,590 Pace University, MBIA Insured, Pre-Refunded, 6.00%, 7/01/29 ............................. 3,000,000 3,257,370 Series 1, MBIA Insured, 5.00%, 7/01/22 .................................................. 2,000,000 2,059,360 Series 1, MBIA Insured, 5.00%, 7/01/24 .................................................. 2,000,000 2,049,720 Siena College, MBIA Insured, 5.00%, 7/01/31 ............................................. 3,500,000 3,576,195 Siena College, MBIA Insured, Pre-Refunded, 5.70%, 7/01/17 ............................... 2,000,000 2,076,760 St. John's University, Series A, MBIA Insured, 5.25%, 7/01/30 ........................... 3,500,000 3,651,305 University of Rochester, Refunding, Series A, MBIA Insured, 5.00%, 7/01/27 .............. 1,000,000 1,017,690 Upstate Community Colleges, MBIA Insured, Pre-Refunded, 5.125%, 7/01/30 ................. 5,945,000 6,264,663 Wildwood Programs Inc., Refunding, MBIA Insured, 5.875%, 7/01/15 ........................ 1,000,000 1,021,740 New York State Energy Research and Development Authority PCR, Central Hudson Gas, Refunding, Series A, AMBAC Insured, 5.45%, 8/01/27 ....................................... 3,500,000 3,660,615 New York State Environmental Facilities Corp. Water Facilities Revenue, Spring Valley Water Project, Refunding, Series B, AMBAC Insured, 6.15%, 8/01/24 .............................. 3,000,000 3,004,980 New York State Municipal Bond Bank Agency Special Program Revenue, Buffalo, Series A, AMBAC Insured, 5.25%, 5/15/31 ............................................................ 4,000,000 4,141,720 New York State Thruway Authority General Revenue, AMBAC Insured, 5.00%, 1/01/30 ............ 11,900,000 12,164,061 New York State Thruway Authority Highway and Bridge Trust Fund Revenue, Series B, MBIA Insured, Pre-Refunded, 4.90%, 4/01/20 ............................................... 2,120,000 2,219,407 New York State Thruway Authority State Personal Income Tax Revenue, Transportation, Series A, MBIA Insured, 5.00%, 3/15/22 ................................................... 5,500,000 5,657,025 New York State Urban Development Corp. Revenue, Correctional Facilities Service Contract, Series C, AMBAC Insured, Pre-Refunded, 6.00%, 1/01/29 .................................... 11,200,000 11,862,032 Niagara Falls City School District COP, High School Facility, MBIA Insured, Pre-Refunded, 5.375%, 6/15/28 .......................................................................... 2,000,000 2,075,820 Niagara Falls Public Improvement GO, MBIA Insured, 6.85%, 3/01/19 .......................... 5,000 5,010
Quarterly Statements of Investments | 5 Franklin New York Tax-Free Trust STATEMENT OF INVESTMENTS, JUNE 30, 2006 (UNAUDITED) (CONTINUED)
------------------------------------------------------------------------------------------------------------------------------------ FRANKLIN NEW YORK INSURED TAX-FREE INCOME FUND PRINCIPAL AMOUNT VALUE ------------------------------------------------------------------------------------------------------------------------------------ LONG TERM INVESTMENTS (CONTINUED) MUNICIPAL BONDS (CONTINUED) NEW YORK (CONTINUED) North Hempstead GO, Refunding, Series B, FGIC Insured, 6.40%, 4/01/15 ................................................................................. $ 1,065,000 $ 1,234,772 4/01/16 ................................................................................. 1,000,000 1,169,010 Oswego County IDA Civic Facility Revenue, Oswego School District Public Library Project, XLCA Insured, 5.00%, 12/15/30 ............................................................ 1,805,000 1,852,219 Rensselear County GO, AMBAC Insured, 6.70%, 2/15/11 ........................................ 810,000 901,886 Sachem Central School District Holbrook GO, MBIA Insured, 5.00%, 6/15/30 ................... 1,000,000 1,022,920 Sales Tax Asset Receivable Corp. Revenue, Series A, AMBAC Insured, 5.00%, 10/15/32 ......... 10,000,000 10,230,500 Schenectady IDA Civic Facility Revenue, Schaffer Heights, Series A, GNMA Secured, 6.00%, 11/01/30 ............................... 3,000,000 3,158,640 Schaffer Heights, Series A, GNMA Secured, 6.05%, 11/01/35 ............................... 2,375,000 2,496,267 Union College Project, Series A, AMBAC Insured, 5.00%, 7/01/32 .......................... 2,395,000 2,435,931 St. Lawrence County IDA Civic Facility Revenue, St. Lawrence University Project, Series A, MBIA Insured, 5.00%, 7/01/28 ............................................................. 2,455,000 2,492,169 Taconic Hills Central School District at Craryville GO, Columbia County, Refunding, FGIC Insured, 5.00%, 6/15/27 ............................................................. 1,295,000 1,331,791 Triborough Bridge and Tunnel Authority Revenues, General Purpose, Series B, MBIA Insured, Pre-Refunded, 5.20%, 1/01/27 ............................................................. 1,000,000 1,090,320 Upper Mohawk Valley Regional Water Finance Authority Water Systems Revenue, AMBAC Insured, 5.75%, 8/01/29 ........................................................... 550,000 581,416 Refunding, Series A, FSA Insured, 5.125%, 10/01/26 ...................................... 2,000,000 2,045,300 Warren and Washington Counties IDA Civic Facility Revenue, Series B, FSA Insured, 5.00%, 12/01/27 ................................................................................. 3,680,000 3,792,277 Westchester County Health Care Corp. Revenue, Series B, 5.375%, 11/01/30 ................... 1,500,000 1,571,280 --------------- TOTAL LONG TERM INVESTMENTS (COST $352,170,855) ............................................ 363,381,880 --------------- SHORT TERM INVESTMENT (COST $300,000) 0.1% MUNICIPAL BOND 0.1% NEW YORK 0.1% b Jay Street Development Corp. Courts Facility Lease Revenue, Jay Street Project, Series A, Daily VRDN and Put, 3.94%, 5/01/22 ....................................................... 300,000 300,000 --------------- TOTAL INVESTMENTS (COST $352,470,855) 100.3% ............................................... 363,681,880 OTHER ASSETS, LESS LIABILITIES (0.3)% ...................................................... (1,200,050) --------------- NET ASSETS 100.0% .......................................................................... $ 362,481,830 ===============
See Selected Portfolio Abbreviations on page 16. a Security purchased on a when-issued or delayed delivery basis. b Variable rate demand notes (VRDNs) are tax-exempt 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. The coupon rate shown represents the rate at period end. 6 | See Notes to Statements of Investments. | Quarterly Statements of Investments Franklin New York Tax-Free Trust STATEMENT OF INVESTMENTS, JUNE 30, 2006 (UNAUDITED)
------------------------------------------------------------------------------------------------------------------------------------ FRANKLIN NEW YORK INTERMEDIATE-TERM TAX-FREE INCOME FUND PRINCIPAL AMOUNT VALUE ------------------------------------------------------------------------------------------------------------------------------------ LONG TERM INVESTMENTS 100.1% MUNICIPAL BONDS 100.1% NEW YORK 94.1% Albany County Airport Authority Revenue, Series B, FSA Insured, 4.75%, 12/15/13 ............ $ 1,850,000 $ 1,897,416 Albany IDA Civic Facility Revenue, Albany Medical Center Project, 5.75%, 5/01/09 ........................................... 780,000 786,271 St. Rose Project, Series A, AMBAC Insured, 5.00%, 7/01/12 ............................... 420,000 436,493 Amherst IDA Civic Facility Revenue, a Mandatory Put 10/01/11, Series A, Radian Insured, 4.20%, 10/01/31 ....................... 2,500,000 2,495,200 University of Buffalo Foundation, Student Housing, Creekside Project, Series A, AMBAC Insured, 4.625%, 8/01/16 ........................................................ 1,030,000 1,057,141 Bath Central School District GO, Refunding, FGIC Insured, 4.00%, 6/15/19 ............................................................ 1,850,000 1,770,487 FSA Insured, 5.10%, 6/15/13 ............................................................. 775,000 801,249 Buffalo GO, Refunding, Series C, FGIC Insured, 5.25%, 12/01/15 ...................................... 1,225,000 1,292,608 Series E, FSA Insured, Pre-Refunded, 5.35%, 12/01/12 .................................... 880,000 925,962 Byram Hills Central School District GO, ETM, 4.00%, 11/15/10 ............................... 1,375,000 1,380,954 Canisteo Central School District GO, Refunding, FSA Insured, 4.25%, 6/15/14 ................ 1,080,000 1,083,920 Clarence Central School District GO, Refunding, FSA Insured, 4.75%, 5/15/15 ................ 2,390,000 2,463,779 Connetquot Central School District Islip GO, Series B, FSA Insured, 4.40%, 6/15/16 ......... 1,000,000 1,007,260 Dansville Central School District GO, Refunding, Series B, FGIC Insured, 4.25%, 6/15/11 .......................................................................... 930,000 945,317 4.35%, 6/15/12 .......................................................................... 870,000 889,175 4.45%, 6/15/13 .......................................................................... 995,000 1,015,278 Erie County GO, FGIC Insured, 4.70%, 11/01/12 ........................................................... 700,000 717,416 Public Improvement, Series A, FGIC Insured, 5.625%, 10/01/12 ............................ 1,000,000 1,061,350 Fayetteville-Manlius Central School District GO, Refunding, FGIC Insured, 4.50%, 6/15/15 ... 1,095,000 1,116,966 Fredonia Central School District GO, Refunding, FGIC Insured, 4.125%, 6/01/09 .............. 1,000,000 1,006,910 Guilderland Central School District, Refunding, Series A, FSA Insured, 4.00%, 5/15/10 ...... 1,260,000 1,267,573 Harborfields Central School District Greenlawn GO, FSA Insured, 5.00%, 6/01/17 ............. 2,105,000 2,183,559 Highland Central School District GO, Refunding, FSA Insured, 4.125%, 6/15/16 ............... 1,080,000 1,068,260 Holland Patent Central School District GO, MBIA Insured, ETM, 4.25%, 6/15/09 ................................................................................. 1,125,000 1,136,756 6/15/10 ................................................................................. 1,125,000 1,139,648 Huntington GO, Public Improvement, 4.20%, 9/01/13 .......................................... 1,230,000 1,236,470 Islip Union Free School District No. 002 GO, Refunding, FGIC Insured, 5.00%, 7/01/18 ....... 2,215,000 2,329,538 Jordan-El Bridge Central School District GO, Refunding, FGIC Insured, 4.00%, 6/15/11 ....... 1,610,000 1,618,581 Long Island Power Authority Electric System Revenue, General, Refunding, Series A, FGIC Insured, 5.00%, 12/01/19 ............................. 3,000,000 3,140,670 MBIA Insured, 5.125%, 4/01/11 ........................................................... 1,410,000 1,453,992 Refunding, Series 8, AMBAC Insured, 5.25%, 4/01/09 ...................................... 2,000,000 2,072,460 Madison County IDA Civic Facility Revenue, Morrisville State College Foundation, Series A, CIFG Insured, 5.00%, 6/01/15 ............................................................ 1,000,000 1,040,770 Middle Country Central School District Centereach GO, FSA Insured, 4.75%, 6/01/17 .......... 1,650,000 1,692,603 Monroe County GO, Public Improvement, FGIC Insured, 4.30%, 3/01/13 ......................... 3,015,000 3,043,492
Quarterly Statements of Investments | 7 Franklin New York Tax-Free Trust STATEMENT OF INVESTMENTS, JUNE 30, 2006 (UNAUDITED) (CONTINUED)
------------------------------------------------------------------------------------------------------------------------------------ FRANKLIN NEW YORK INTERMEDIATE-TERM TAX-FREE INCOME FUND PRINCIPAL AMOUNT VALUE ------------------------------------------------------------------------------------------------------------------------------------ LONG TERM INVESTMENTS (CONTINUED) MUNICIPAL BONDS (CONTINUED) NEW YORK (CONTINUED) Montgomery Otsego Schoharie Counties Solid Waste Management Authority Revenue, Refunding, MBIA Insured, 4.00%, 1/01/12 ................................................................................. $ 1,845,000 $ 1,849,502 1/01/13 ................................................................................. 1,920,000 1,917,811 MTA Dedicated Tax Fund Revenue, Refunding, Series A, FSA Insured, 3.90%, 11/15/12 .......... 4,000,000 3,977,600 MTA Transit Facilities Revenue, Series A, Pre-Refunded, 6.00%, 7/01/15 .................................................. 1,500,000 1,587,105 Series C, FSA Insured, Pre-Refunded, 4.75%, 7/01/16 ..................................... 1,915,000 1,996,263 Nassau County GO, General Improvements, Series V, AMBAC Insured, 5.25%, 3/01/13 ........................... 1,000,000 1,029,320 Refunding, Series A, FGIC Insured, 6.00%, 7/01/11 ....................................... 1,000,000 1,088,180 Nassau Health Care Corp. Health System Revenue, Nassau County Guaranteed, FSA Insured, Pre-Refunded, 6.00%, 8/01/10 ............................................................. 1,000,000 1,077,320 New York Bridge Authority Revenue, General, 4.125%, 1/01/13 ................................ 4,000,000 4,002,880 New York City GO, Refunding, Series B, 6.20%, 8/15/06 ..................................................... 770,000 772,048 Refunding, Series F, 5.25%, 8/01/13 ..................................................... 1,095,000 1,149,323 Refunding, Series G, XLCA Insured, 5.50%, 8/01/12 ....................................... 2,000,000 2,151,260 Refunding, Series I, MBIA Insured, 5.00%, 8/01/14 ....................................... 6,000,000 6,321,300 Series D, 4.30%, 10/15/16 ............................................................... 3,000,000 2,965,470 Series F, Pre-Refunded, 6.00%, 8/01/12 .................................................. 700,000 711,543 Series H, 4.125%, 8/01/11 ............................................................... 1,560,000 1,561,030 New York City Health and Hospital Corp. Revenue, Health System, Refunding, Series A, AMBAC Insured, 4.60%, 2/15/12 ...................................... 1,000,000 1,016,570 Series A, FSA Insured, 4.15%, 2/15/12 ................................................... 750,000 753,705 Series A, FSA Insured, 4.30%, 2/15/13 ................................................... 1,000,000 1,003,420 New York City IDA Civic Facility Revenue, Institute of International Education Inc. Project, 5.125%, 9/01/16 ................................................................. 2,320,000 2,384,821 New York City Transitional Finance Authority Revenue, Future Tax Secured, Series A, 4.75%, 11/15/13 ............................................................... 1,000,000 1,028,680 Series B, 4.75%, 11/01/16 ............................................................... 2,200,000 2,253,658 Series B, Pre-Refunded, 6.00%, 11/15/13 ................................................. 1,000,000 1,083,480 New York Convention Center Development Corp. Revenue, Hotel Unit Fee Secured, AMBAC Insured, 5.00%, 11/15/20 ................................................................. 5,775,000 6,006,693 New York State Appropriated Tobacco Corp. Revenue, Asset-Backed, Series A-1, AMBAC Insured, 5.25%, 6/01/21 .................................................................. 4,200,000 4,410,378 New York State Dormitory Authority Lease Revenue, State University Dormitory Facilities, Series A, Pre-Refunded, 5.50%, 7/01/12 ................................................... 1,815,000 1,934,028 New York State Dormitory Authority Revenue, Iona College, XLCA Insured, 3.875%, 7/01/10 ............................................. 1,000,000 997,980 Mount St. Mary College, Radian Insured, 4.00%, 7/01/12 .................................. 2,080,000 2,039,648 School Districts Financing Program, Series C, MBIA Insured, 4.00%, 4/01/12 .............. 1,125,000 1,126,665 Teachers College, MBIA Insured, 4.00%, 7/01/12 .......................................... 1,000,000 1,001,580
8 | Quarterly Statements of Investments Franklin New York Tax-Free Trust STATEMENT OF INVESTMENTS, JUNE 30, 2006 (UNAUDITED) (CONTINUED)
------------------------------------------------------------------------------------------------------------------------------------ FRANKLIN NEW YORK INTERMEDIATE-TERM TAX-FREE INCOME FUND PRINCIPAL AMOUNT VALUE ------------------------------------------------------------------------------------------------------------------------------------ LONG TERM INVESTMENTS (CONTINUED) MUNICIPAL BONDS (CONTINUED) NEW YORK (CONTINUED) New York State Dormitory Authority Revenues, City University, Refunding, Series F, FGIC Insured, 5.75%, 7/01/09 ...................... $ 1,000,000 $ 1,037,260 Department of Health, Refunding, Sub Series 2, FGIC Insured, 5.00%, 7/01/18 ............. 5,000,000 5,203,550 FSA Insured, 5.125%, 2/15/07 ............................................................ 1,000,000 1,008,270 Hospital, Maimonides, MBIA Insured, 5.00%, 8/01/17 ...................................... 1,720,000 1,794,149 Hospital, Maimonides, MBIA Insured, 5.00%, 8/01/19 ...................................... 1,895,000 1,966,252 Insured Mortgage Nursing Home, MBIA Insured, 4.60%, 2/01/11 ............................. 90,000 90,231 Mandatory Put 5/15/12, Refunding, Series B, 5.25%, 11/15/23 ............................. 2,000,000 2,106,880 Montefiore Hospital, FGIC Insured, 5.00%, 2/01/18 ....................................... 2,975,000 3,092,572 New York State Department of Health, Refunding, 5.25%, 7/01/17 .......................... 5,000,000 5,276,650 Non State Supported Debt, Bishop Henry B Hucles Nursing, 5.00%, 7/01/24 ................. 4,765,000 4,896,990 Office of General Services, MBIA Insured, 5.00%, 4/01/18 ................................ 2,000,000 2,041,480 St. John's University, Series A, MBIA Insured, 5.00%, 7/01/14 ........................... 750,000 783,480 State University, Capital Appreciation Bond, Refunding, Series B, MBIA Insured, zero cpn., 5/15/08 ......................................................................... 3,000,000 2,790,180 Supported Debt, State University Dormitory Facilities, Series B, MBIA Insured, 5.00%, 7/01/17 ............................................................................... 2,875,000 3,021,481 University of Rochester, Series A, 5.25%, 7/01/21 ....................................... 500,000 526,980 New York State Energy Research and Development Authority PCR, New York State Electric and Gas, MBIA Insured, 4.10%, 3/15/15 ............................................................ 2,000,000 1,979,720 Series B, MBIA Insured, 4.00%, 10/15/15 ................................................. 5,000,000 4,904,750 Series D, MBIA Insured, 4.10%, 12/01/15 ................................................. 2,000,000 1,963,200 New York State Environmental Facilities Corp. State Clean Water and Drinking Revenue, Revolving Funds, Series B, 5.80%, 1/15/16 .......................................................................... 1,010,000 1,075,620 Pre-Refunded, 5.80%, 1/15/16 ............................................................ 1,490,000 1,584,600 New York State HFAR, Health Facilities of New York City, Refunding, Series A, 6.00%, 11/01/08 ................................................................................. 3,045,000 3,110,376 New York State Local Government Assistance Corp. Revenue, Refunding, Series A-1, FSA Insured, 5.00%, 4/01/13 ................................................. 2,200,000 2,320,670 Series B, MBIA Insured, 4.875%, 4/01/20 ................................................. 3,750,000 3,837,375 New York State Thruway Authority General Revenue, Series F, AMBAC Insured, 5.00%, 1/01/22 .. 6,535,000 6,772,678 New York State Thruway Authority Highway and Bridge Trust Fund Revenue, FSA Insured, 5.25%, 4/01/12 ............................................................. 1,620,000 1,725,332 Series C, FGIC Insured, Pre-Refunded, 5.25%, 4/01/14 .................................... 2,000,000 2,067,580 New York State Urban Development Corp. Revenue, Correctional Capital Facilities, Refunding, MBIA Insured, 5.00%, 1/01/09 ................ 1,525,000 1,566,922 Correctional Facilities Service Contract, Series C, AMBAC Insured, Pre-Refunded, 6.00%, 1/01/15 ........................................................................ 1,000,000 1,059,110 State Personal Income Tax, Series C-1 Empire State, 4.125%, 12/15/16 .................... 1,490,000 1,465,758 State Personal Income Tax, Series C-1 Empire State, 4.25%, 12/15/17 ..................... 1,955,000 1,935,743 Youth Facilities, Pre-Refunded, 5.75%, 4/01/10 .......................................... 400,000 413,484
Quarterly Statements of Investments | 9 Franklin New York Tax-Free Trust STATEMENT OF INVESTMENTS, JUNE 30, 2006 (UNAUDITED) (CONTINUED)
------------------------------------------------------------------------------------------------------------------------------------ FRANKLIN NEW YORK INTERMEDIATE-TERM TAX-FREE INCOME FUND PRINCIPAL AMOUNT VALUE ------------------------------------------------------------------------------------------------------------------------------------ LONG TERM INVESTMENTS (CONTINUED) MUNICIPAL BONDS (CONTINUED) NEW YORK (CONTINUED) North Hempstead GO, FGIC Insured, Pre-Refunded, 6.00%, 7/15/14 ............................. $ 1,715,000 $ 1,833,592 Olean City School District GO, Refunding, FGIC Insured, 4.00%, 6/15/12 .......................................................................... 1,065,000 1,068,898 4.375%, 6/15/17 ......................................................................... 1,335,000 1,343,651 Rochester GO, MBIA Insured, ETM, 4.125%, 2/15/10 ...................................................... 520,000 524,061 Refunding, MBIA Insured, 4.125%, 2/15/10 ................................................ 490,000 493,989 Sales Tax Asset Receivable Corp. Revenue, Series A, MBIA Insured, 5.25%, 10/15/18 .......... 5,000,000 5,338,250 Saratoga Springs City School District GO, Series A, FSA Insured, 4.50%, 6/15/15 ............ 1,025,000 1,043,327 Schenectady Metroplex Development Authority Revenue, FGIC Insured, 4.50%, 9/15/21 .......... 1,720,000 1,708,682 Suffolk County GO, Public Improvement, Refunding, Series A, MBIA Insured, 4.10%, 4/01/11 ... 1,155,000 1,163,351 Suffolk County Judicial Facilities Agency Service Agreement Revenue, John P. Cohalan Complex, AMBAC Insured, 5.25%, 10/15/14 ......................................................................... 1,435,000 1,514,743 5.00%, 4/15/16 .......................................................................... 1,000,000 1,039,450 Suffolk County Water Authority Waterworks Revenue, sub. lien, Refunding, MBIA Insured, 5.10%, 6/01/13 ........................................................................... 2,000,000 2,125,280 Tobacco Settlement Financing Corp. Revenue, Asset-Backed, Series A-1, 5.50%, 6/01/19 ....... 5,000,000 5,333,350 Upper Mohawk Valley Regional Water Finance Authority Water Systems Revenue, AMBAC Insured, 5.75%, 4/01/20 ........................................................................... 1,000,000 1,067,650 Western Nassau County Water Authority Water System Revenue, AMBAC Insured, 5.00%, 5/01/17 ................................................................................. 1,385,000 1,449,236 5/01/19 ................................................................................. 1,525,000 1,586,671 Yonkers GO, Refunding, Series B, MBIA Insured, 5.00%, 8/01/16 ....................................... 1,885,000 1,981,738 Series A, AMBAC Insured, 5.00%, 12/15/14 ................................................ 1,795,000 1,867,123 Yorktown Central School District GO, MBIA Insured, 4.625%, 6/15/18 ......................... 1,890,000 1,926,477 --------------- 217,603,627 --------------- U.S. TERRITORIES 6.0% PUERTO RICO 3.3% Puerto Rico Commonwealth GO, Public Improvement, Assured Guaranty Insured, 5.25%, 7/01/18 .. 1,820,000 1,954,116 Puerto Rico Industrial Tourist Educational Medical and Environmental Control Facilities Financing Authority Hospital Revenue, Mennonite General Hospital Project, Series A, 6.375%, 7/01/06 ......................................................................... 285,000 285,000 Puerto Rico Industrial Tourist Educational Medical and Environmental Control Facilities Financing Authority Revenue, Ana G. Mendez University System Project, 5.00%, 3/01/16 ................................................................................. 2,605,000 2,648,738 3/01/21 ................................................................................. 2,555,000 2,580,167 --------------- 7,468,021 ---------------
10 | Quarterly Statements of Investments Franklin New York Tax-Free Trust STATEMENT OF INVESTMENTS, JUNE 30, 2006 (UNAUDITED) (CONTINUED)
------------------------------------------------------------------------------------------------------------------------------------ FRANKLIN NEW YORK INTERMEDIATE-TERM TAX-FREE INCOME FUND PRINCIPAL AMOUNT VALUE ------------------------------------------------------------------------------------------------------------------------------------ LONG TERM INVESTMENTS (CONTINUED) MUNICIPAL BONDS (CONTINUED) U.S. TERRITORIES (CONTINUED) VIRGIN ISLANDS 2.7% Virgin Islands PFAR, senior lien, Refunding, Series A, 5.30%, 10/01/11 ..................... $ 3,000,000 $ 3,083,250 Virgin Islands Water and Power Authority Electric System Revenue, Refunding, 5.125%, 7/01/13 .......................................................................... 1,775,000 1,756,025 Virgin Islands Water and Power Authority Water System Revenue, Refunding, 4.875%, 7/01/06 ......................................................................... 890,000 890,000 5.00%, 7/01/09 .......................................................................... 520,000 522,855 --------------- 6,252,130 --------------- TOTAL U.S. TERRITORIES ..................................................................... 13,720,151 --------------- TOTAL LONG TERM INVESTMENTS (COST $229,302,614) 100.1% ..................................... 231,323,778 OTHER ASSETS, LESS LIABILITIES (0.1)% ...................................................... (161,089) --------------- NET ASSETS 100.0% .......................................................................... $ 231,162,689 ===============
See Selected Portfolio Abbreviations on page 16. a Security purchased on a when-issued or delayed delivery basis. Quarterly Statements of Investments | See Notes to Statements of Investments. | 11 Franklin New York Tax-Free Trust STATEMENT OF INVESTMENTS, JUNE 30, 2006 (UNAUDITED)
------------------------------------------------------------------------------------------------------------------------------------ FRANKLIN NEW YORK LIMITED-TERM TAX-FREE INCOME FUND PRINCIPAL AMOUNT VALUE ------------------------------------------------------------------------------------------------------------------------------------ LONG TERM INVESTMENTS 58.3% MUNICIPAL BONDS 58.3% NEW YORK 51.4% a Amherst IDA Civic Facility Revenue, Mandatory Put 10/01/11, Series A, Radian Insured, 4.20%, 10/01/31 .......................................................................... $ 325,000 $ 324,376 Buffalo Sewer Authority Revenue, Sewer Systems, Series I, FSA Insured, 2.00%, 7/01/06 ...... 100,000 100,000 Hempstead Town IDA Civic Facility Revenue, Adelphi University Civic Facility, 3.75%, 10/01/09 ................................................................................. 315,000 309,932 New York State Dormitory Authority Revenues, The New York and Presbyterian Hospital, Mortgage, Refunding, Series A, FHA Insured, 5.00%, 8/15/09 ....................................................................... 250,000 257,673 Kateri Residence, Refunding, 4.00%, 7/01/10 ............................................. 230,000 229,328 White Plains Hospital, Mortgage, FHA Insured, 3.55%, 2/15/10 ............................ 200,000 197,012 Non State Supported Debt, Aids Long Term Health Care Facility, Refunding, 5.00%, 11/01/11 ............................................................................. 250,000 258,710 Non State Supported Debt, Cerebral Palsy, Pooled, Series A, Assured Guaranty, 4.00%, 7/01/06 .............................................................................. 250,000 250,000 New York State GO, Environmental Quality, Mandatory Put 8/03/06, Series G, 2.95%, 11/30/18 ................................................................................. 400,000 399,736 New York State Thruway Authority Service Contract Revenue, Local Highway and Bridge, Series A, 2.75%, 3/15/08 ................................................................. 250,000 243,770 New York State Urban Development Corp. Correctional and Youth Facilities Service Revenue, Mandatory Put 1/01/09, Series A, 4.00%, 1/01/28 .......................................... 200,000 199,718 Rockland County GO, RAN, 4.50%, 3/22/07 .................................................... 400,000 401,836 Syracuse GO, BAN, Series A, 4.50%, 6/20/07 ................................................. 400,000 402,320 Tobacco Settlement Financing Corp. Revenue, Series B-1, 4.00%, 6/01/07 ..................... 275,000 275,646 Warren and Washington Counties IDA Civic Facility Revenue, Glen Falls Hospital Project, Series B, FSA Insured, 2.00%, 12/01/06 ................................................... 125,000 123,703 Warren and Washington Counties IDAR, Hudson Falls Recovery, Refunding, Series A, AMBAC Insured, 3.375%, 11/01/10 .......................................................... 300,000 292,461 Western Nassau County Water Authority Water System Revenue, AMBAC Insured, 3.00%, 5/01/09 .................................................................................. 215,000 208,309 --------------- 4,474,530 --------------- U.S. TERRITORIES 6.9% GUAM 1.4% Guam International Airport Authority Revenue, Series A, MBIA Insured, 2.75%, 10/01/09 ...... 125,000 118,819 PUERTO RICO 5.5% Puerto Rico Industrial Tourist Educational Medical and Environmental Control Facilities Financing Authority Revenue, Ana G. Mendez University System Project, 5.00%, 3/01/08 ..... 475,000 480,448 --------------- TOTAL U.S. TERRITORIES ..................................................................... 599,267 --------------- TOTAL LONG TERM INVESTMENTS (COST $5,121,138) .............................................. 5,073,797 ---------------
12 | Quarterly Statements of Investments Franklin New York Tax-Free Trust STATEMENT OF INVESTMENTS, JUNE 30, 2006 (UNAUDITED) (CONTINUED)
------------------------------------------------------------------------------------------------------------------------------------ FRANKLIN NEW YORK LIMITED-TERM TAX-FREE INCOME FUND PRINCIPAL AMOUNT VALUE ------------------------------------------------------------------------------------------------------------------------------------ SHORT TERM INVESTMENTS 46.0% MUNICIPAL BONDS 46.0% NEW YORK 46.0% b Jay Street Development Corp. Courts Facility Lease Revenue, Jay Street Project, Series A, Daily VRDN and Put, 3.94%, 5/01/22 ....................................................... $ 500,000 $ 500,000 b Long Island Power Authority Electric System Revenue, Sub Series 3B, Daily VRDN and Put, 3.93%, 5/01/33 ........................................................................... 400,000 400,000 Nassau County GO, TAN, Series B, 4.50%, 11/30/06 ........................................... 400,000 401,172 b New York City GO, Sub Series A-5, Daily VRDN and Put, 3.93%, 8/01/15 ...................................... 350,000 350,000 Sub Series E-5, Daily VRDN and Put, 3.94%, 8/01/17 ...................................... 200,000 200,000 b New York City Municipal Water Finance Authority Water and Sewer System Revenue, Fiscal 2003, Refunding, Sub Series C-3, Daily VRDN and Put, 3.94%, 6/15/18 ............................ 400,000 400,000 b New York City Transitional Finance Authority Revenue, Future Tax Secured, Series B, Daily VRDN and Put, 3.96%, 2/01/31 ............................................ 400,000 400,000 Series C, Daily VRDN and Put, 3.95%, 5/01/28 ............................................ 200,000 200,000 New York State Dormitory Authority Revenues, Non State Supported Debt, Rochester Institute Technology, Series B, AMBAC Insured, 4.00%, 7/01/06 ...................................... 355,000 355,000 b New York State Local Government Assistance Corp. Revenue, Weekly VRDN and Put, 3.92%, 4/01/23 .................................................................................. 400,000 400,000 b Triborough Bridge and Tunnel Authority Revenues, Refunding, Series C, AMBAC Insured, Weekly VRDN and Put, 3.93%, 1/01/33 ..................................................... 400,000 400,000 --------------- TOTAL SHORT TERM INVESTMENTS (COST $4,007,075) ............................................. 4,006,172 --------------- TOTAL INVESTMENTS (COST $9,128,213) 104.3% ................................................. 9,079,969 OTHER ASSETS, LESS LIABILITIES (4.3)% ...................................................... (372,622) --------------- NET ASSETS 100.0% .......................................................................... $ 8,707,347 ===============
See Selected Portfolio Abbreviations on page 16. a Security purchased on a when-issued or delayed delivery basis. b Variable rate demand notes (VRDNs) are tax-exempt 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. The coupon rate shown represents the rate at period end. Quarterly Statements of Investments | See Notes to Statements of Investments. | 13 Franklin New York Tax-Free Trust STATEMENT OF INVESTMENTS, JUNE 30, 2006 (UNAUDITED)
------------------------------------------------------------------------------------------------------------------------------------ FRANKLIN NEW YORK TAX-EXEMPT MONEY FUND PRINCIPAL AMOUNT VALUE ------------------------------------------------------------------------------------------------------------------------------------ SHORT TERM INVESTMENTS 98.6% MUNICIPAL BONDS 98.6% NEW YORK 95.2% a Jay Street Development Corp. Courts Facility Lease Revenue, Jay Street Project, Series A-1, Weekly VRDN and Put, 3.96%, 5/01/22 ..................... $ 500,000 $ 500,000 New York City Jay Street Project, Series A-4, Daily VRDN and Put, 3.94%, 5/01/22 ........ 2,265,000 2,265,000 Long Island Power Authority Electric System Revenue, a Sub Series 2, Daily VRDN and Put, 3.94%, 5/01/33 ........................................ 1,900,000 1,900,000 TECP, 3.52%, 10/05/06 ................................................................... 1,000,000 1,000,000 a Monroe County IDA Civic Facility Revenue, Various St. John Fisher College Project, Radian Insured, Weekly VRDN and Put, 3.97%, 6/01/34 ............................................ 1,000,000 1,000,000 MTA Revenue, TECP, 3.50%, 7/10/06 .................................................................... 1,000,000 1,000,000 a Transportation, Sub Series G-2, Daily VRDN and Put, 3.92%, 11/01/26 ..................... 1,900,000 1,900,000 a Nassau County Interim Finance Authority Revenue, Sales Tax Secured, Refunding, Series B, FSA Insured, Weekly VRDN and Put, 3.93%, 11/15/22 ........................................ 1,700,000 1,700,000 Nassau County Sewer and Storm Water Finance Authority System Revenue, TECP, 3.42%, 8/04/06 .................................................................................. 1,500,000 1,500,000 New York City GO, a Refunding, Sub Series C-4, Weekly VRDN and Put, 3.94%, 8/01/20 .......................... 1,000,000 1,000,000 Series F, MBIA Insured, Pre-Refunded, 5.875%, 8/01/24 ................................... 775,000 792,183 a Sub Series E-3, Daily VRDN and Put, 3.95%, 8/01/23 ...................................... 1,900,000 1,900,000 a New York City HDC, MF Rental Housing Revenue, Carnegie Park, Series A, FNMA Insured, Weekly VRDN and Put, 3.96%, 11/15/19 ...................................................................... 2,950,000 2,950,000 MF Rental Housing Revenue, One Columbus Place Development, Series A, FNMA Insured, Weekly VRDN and Put, 4.00%, 11/15/28 ................................................. 1,000,000 1,000,000 MF Revenue, Mortgage, Marseilles Apartments, Series A, Weekly VRDN and Put, 3.91%, 12/01/34 ............................................................................. 1,575,000 1,575,000 a New York City IDA Civic Facility Revenue, National Audubon Society, Daily VRDN and Put, 4.00%, 12/01/14 .......................................................................... 500,000 500,000 a New York City IDAR, Liberty, 1 Bryant Park LLC, Series A, Weekly VRDN and Put, 4.02%, 11/01/39 ................................................................................. 3,000,000 3,000,000 a New York City Municipal Water Finance Authority Water and Sewer System Revenue, Fiscal 2003, Refunding, Sub Series C-3, Daily VRDN and Put, 3.94%, 6/15/18 .............. 1,400,000 1,400,000 Series C, FGIC Insured, Daily VRDN and Put, 3.93%, 6/15/22 .............................. 1,400,000 1,400,000 Series C, FGIC Insured, Daily VRDN and Put, 3.93%, 6/15/23 .............................. 100,000 100,000 Series G, FGIC Insured, Daily VRDN and Put, 3.94%, 6/15/24 .............................. 100,000 100,000 a New York City Transitional Finance Authority Revenue, Future Tax Secured, Refunding, Sub Series C5, Daily VRDN and Put, 3.95%, 8/01/31 ........ 1,600,000 1,600,000 New York City Recovery, Series 1, Sub Series 1C, Daily VRDN and Put, 3.95%, 11/01/22 .... 700,000 700,000 New York City Recovery, Series 1, Sub Series 1D, Daily VRDN and Put, 4.00%, 11/01/22 .... 600,000 600,000 a New York City Trust Cultural Resources Revenue, Refunding, American Museum Natural History, Series A, MBIA Insured, Weekly VRDN and Put, 3.91%, 4/01/21 ............................. 500,000 500,000 a New York State Dormitory Authority Revenues, Cornell University, Series A, Weekly VRDN and Put, 3.90%, 7/01/29 ....................... 900,000 900,000 Cornell University, Series B, Weekly VRDN and Put, 3.90%, 7/01/30 ....................... 200,000 200,000 Mental Health Facilities Improvement, Refunding, Series F-2B, FSA Insured, Weekly VRDN and Put, 3.95%, 2/15/21 .............................................................. 1,000,000 1,000,000 Mental Health Services, Sub Series D-2B, FSA Insured, Weekly VRDN and Put, 3.95%, 2/15/31 .............................................................................. 400,000 400,000
14 | Quarterly Statements of Investments Franklin New York Tax-Free Trust STATEMENT OF INVESTMENTS, JUNE 30, 2006 (UNAUDITED) (CONTINUED)
------------------------------------------------------------------------------------------------------------------------------------ FRANKLIN NEW YORK TAX-EXEMPT MONEY FUND PRINCIPAL AMOUNT VALUE ------------------------------------------------------------------------------------------------------------------------------------ SHORT TERM INVESTMENTS (CONTINUED) MUNICIPAL BONDS (CONTINUED) NEW YORK (CONTINUED) a New York State Dormitory Authority Revenues, (continued) New York Public Library, Series B, MBIA Insured, Weekly VRDN and Put, 3.96%, 7/01/28 .... $ 2,200,000 $ 2,200,000 Non State Supported Debt, Court Facilities Lease, Series B, Weekly VRDN and Put, 3.98%, 5/15/39 .............................................................................. 2,000,000 2,000,000 Non State Supported Debt, University of Rochester, Refunding, Series A-1, MBIA Insured, Weekly VRDN and Put, 3.92%, 7/01/27 .................................................. 1,000,000 1,000,000 Oxford University Press Inc., Weekly VRDN and Put, 3.90%, 7/01/25 ....................... 700,000 700,000 a New York State Energy Research and Development Authority PCR, Orange and Rockland Project, Series A, AMBAC Insured, Weekly VRDN and Put, 3.91%, 8/01/15 ...................................... 1,350,000 1,350,000 FGIC Insured, Weekly VRDN and Put, 3.91%, 10/01/14 ...................................... 1,100,000 1,100,000 New York State GO, Environmental Quality, Mandatory Put 8/03/06, Series G, 2.95%, 11/30/18 ................. 1,800,000 1,800,000 Refunding, Series A, Mandatory Put 8/03/06, 3.15%, 3/13/20 .............................. 900,000 900,000 a New York State HFAR, 100 Maiden Lane Housing, Series A, Weekly VRDN and Put, 3.95%, 11/01/37 ................. 1,000,000 1,000,000 350 West 43rd Street, Series A, Weekly VRDN and Put, 4.00%, 11/01/34 .................... 2,000,000 2,000,000 FNMA Insured, Weekly VRDN and Put, 4.01%, 11/15/29 ...................................... 500,000 500,000 a New York State Local Government Assistance Corp. Revenue, Series F, Weekly VRDN and Put, 3.92%, 4/01/25 ........................................... 800,000 800,000 Series G, Weekly VRDN and Put, 3.91%, 4/01/25 ........................................... 2,700,000 2,700,000 New York State Power Authority Revenue and General Purpose GO, Consented, Optional Put 9/01/06, 3.35%, 3/01/20 .................................................................. 1,000,000 1,000,000 New York State Thruway Authority General Revenue, Series D, Pre-Refunded, 5.50%, 1/01/16 .................................................................................. 750,000 779,037 Schenectady GO, BAN, 4.50%, 5/24/07 ........................................................ 1,000,000 1,007,169 a Triborough Bridge and Tunnel Authority Special Obligation Revenue, Refunding, Series C, FSA Insured, Weekly VRDN and Put, 3.93%, 1/01/31 ......................................... 2,600,000 2,600,000 Yonkers GO, Series E, MBIA Insured, 5.00%, 12/01/06 ........................................ 1,375,000 1,383,763 --------------- 59,202,152 --------------- U.S. TERRITORIES 3.4% PUERTO RICO 3.4% a Puerto Rico Commonwealth Highway and Transportation Authority Transportation Revenue, Series A, AMBAC Insured, Weekly VRDN and Put, 3.94%, 7/01/28 ............................. 1,000,000 1,000,000 Puerto Rico Commonwealth Revenue, TRAN, Refunding, 4.50%, 7/28/06 .......................... 1,100,000 1,101,001 --------------- 2,101,001 --------------- TOTAL SHORT TERM INVESTMENTS (COST $61,303,153) 98.6% ...................................... 61,303,153 OTHER ASSETS, LESS LIABILITIES 1.4% ........................................................ 900,223 --------------- NET ASSETS 100.0% .......................................................................... $ 62,203,376 ===============
See Selected Portfolio Abbreviations on page 16. a Variable rate demand notes (VRDNs) are tax-exempt 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. The coupon rate shown represents the rate at period end. Quarterly Statements of Investments | See Notes to Statements of Investments. | 15 Franklin New York Tax-Free Trust STATEMENT OF INVESTMENTS, JUNE 30, 2006 (UNAUDITED) SELECTED PORTFOLIO ABBREVIATIONS AMBAC - American Municipal Bond Assurance Corp. BAN - Bond Anticipation Notes CIFG - CDC IXIS Financial Guaranty COP - Certificate of Participation ETM - Escrow to Maturity FGIC - Financial Guaranty Insurance Co. FHA - Federal Housing Authority/Agency FNMA - Federal National Mortgage Association FSA - Financial Security Assurance Inc. GNMA - Government National Mortgage Association GO - General Obligation HDC - Housing Development Corp. HFAR - Housing Finance Authority/Agency Revenue IDA - Industrial Development Authority/Agency IDAR - Industrial Development Authority/Agency Revenue MBIA - Municipal Bond Investors Assurance Corp. MF - Multi-Family MTA - Metropolitan Transit Authority PCR - Pollution Control Revenue PFAR - Public Financing Authority Revenue RAN - Revenue Anticipation Notes TAN - Tax Anticipation Notes TECP - Tax-Exempt Commercial Paper TRAN - Tax and Revenue Anticipation Notes XLCA - XL Capital Assurance 16 | See Notes to Statements of Investments. | Quarterly Statements of Investments Franklin New York Tax-Free Trust NOTES TO STATEMENTS OF INVESTMENTS (UNAUDITED) Franklin New York Tax-Free Trust is registered under the Investment Company Act of 1940 as a non-diversified open-end investment company, consisting of four series (the Funds). 1. INCOME TAXES At June 30, 2006, the cost of investments and net unrealized appreciation (depreciation) for income tax purposes were as follows:
------------------------------------- FRANKLIN NEW YORK FRANKLIN NEW YORK INTERMEDIATE-TERM INSURED TAX-FREE TAX-FREE INCOME FUND INCOME FUND ------------------------------------- Cost of investments ............................. $ 352,377,118 $ 229,239,948 ===================================== Unrealized appreciation ......................... $ 12,751,831 $ 3,212,981 Unrealized depreciation ......................... (1,447,069) (1,129,151) ------------------------------------- Net unrealized appreciation (depreciation) ...... $ 11,304,762 $ 2,083,830 =====================================
------------------------------------- FRANKLIN NEW YORK LIMITED-TERM FRANKLIN NEW YORK TAX-FREE TAX-EXEMPT INCOME FUND MONEY FUND ------------------------------------- Cost of investments ............................. $ 9,128,213 $ 61,303,153 ===================================== Unrealized appreciation ......................... $ -- $ -- Unrealized depreciation ......................... (48,244) -- ------------------------------------- Net unrealized appreciation (depreciation) ...... $ (48,244) $ -- =====================================
For information on the Funds' policy regarding valuation of investments and other significant accounting policies, please refer to the Funds' most recent semiannual or annual shareholder report. Quarterly Statements Of Investments | 17 Item 2. Controls and Procedures. (a) Evaluation of Disclosure Controls and Procedures. The Registrant maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the Registrant's filings under the Securities Exchange Act of 1934 and the Investment Company Act of 1940 is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission. Such information is accumulated and communicated to the Registrant's management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. The Registrant's management, including the principal executive officer and the principal financial officer, recognizes that any set of controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. Within 90 days prior to the filing date of this Quarterly Schedule of Portfolio Holdings on Form N-Q, the Registrant had carried out an evaluation, under the supervision and with the participation of the Registrant's management, including the Registrant's principal executive officer and the Registrant's principal financial officer, of the effectiveness of the design and operation of the Registrant's disclosure controls and procedures. Based on such evaluation, the Registrant's principal executive officer and principal financial officer concluded that the Registrant's disclosure controls and procedures are effective. (b) Changes in Internal Controls. There have been no significant changes in the Registrant's internal controls or in other factors that could significantly affect the internal controls subsequent to the date of their evaluation in connection with the preparation of this Quarterly Schedule of Portfolio Holdings on Form N-Q. Item 3. Exhibits. (A) Certification pursuant to Section 30a-2 under the Investment Company Act of 1940 of Jimmy D. Gambill, Chief Executive Officer - Finance and Administration, and Galen G. Vetter, Chief Financial Officer. 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. FRANKLIN NEW YORK TAX-FREE TRUST By /S/JIMMY D. GAMBILL ------------------- Jimmy D. Gambill Chief Executive Officer - Finance and Administration Date August 28, 2006 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/JIMMY D. GAMBILL ------------------- Jimmy D. Gambill Chief Executive Officer - Finance and Administration Date August 28, 2006 By /S/GALEN G. VETTER ------------------ Galen G. Vetter Chief Financial Officer Date August 28, 2006 Exhibit A I, Jimmy D. Gambill, certify that: 1. I have reviewed this report on Form N-Q of FRANKLIN NEW YORK TAX-FREE TRUST; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. August 28, 2006 /S/JIMMY D. GAMBILL Jimmy D. Gambill Chief Executive Officer - Finance and Administration I, Galen G. Vetter, certify that: 1. I have reviewed this report on Form N-Q of FRANKLIN NEW YORK TAX-FREE TRUST; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. August 28, 2006 /S/GALEN G. VETTER Galen G. Vetter Chief Financial Officer