-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CM6MI8RJi8iPiJegj1v4JZ1p0jLpj93xVTT3RmUc9xW846FvpEjNUaAYyWqMxRE0 lN8ln/rF9uQ6+P8X0zUJDQ== 0000798523-10-000004.txt : 20100226 0000798523-10-000004.hdr.sgml : 20100226 20100226151910 ACCESSION NUMBER: 0000798523-10-000004 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20091231 FILED AS OF DATE: 20100226 DATE AS OF CHANGE: 20100226 EFFECTIVENESS DATE: 20100226 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN NEW YORK TAX FREE TRUST CENTRAL INDEX KEY: 0000798523 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-04787 FILM NUMBER: 10638693 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN NEW YORK TAX EXEMPT MONEY FUND DATE OF NAME CHANGE: 19910304 0000798523 S000006870 FRANKLIN NEW YORK INSURED TAX-FREE INCOME FUND C000018600 CLASS A FRNYX C000018601 CLASS C FNYKX 0000798523 S000006871 FRANKLIN NEW YORK INTERMEDIATE-TERM TAX-FREE INCOME FUND C000018602 CLASS A FKNIX C000018603 CLASS C FKNCX C000074136 Advisor N-Q 1 fnytftnq.txt PE 12/31/09 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: 12/31/09 -------- ITEM 1. SCHEDULE OF INVESTMENTS. Franklin New York Tax-Free Trust Franklin New York Insured Tax-Free Income Fund STATEMENT OF INVESTMENTS, DECEMBER 31, 2009 (UNAUDITED)
PRINCIPAL AMOUNT VALUE ----------- ------------- MUNICIPAL BONDS 98.3% NEW YORK 98.3% 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 $ 2,794,831 Erie County GO, Sewer District, Series B, NATL Insured, 5.00%, 12/01/35 2,000,000 1,821,960 Fredonia Central School District GO, FGIC Insured, Pre-Refunded, 5.00%, 6/01/19 2,300,000 2,344,321 Hempstead Town IDA Civic Facilities Revenue, Hofstra University Project, NATL Insured, 5.80%, 7/01/15 1,340,000 1,340,295 Hudson Yards Infrastructure Corp. Revenue, Series A, FSA Insured, 5.00%, 2/15/47 15,000,000 14,041,800 Long Island Power Authority Electric System Revenue, General, Refunding, Series A, BHAC Insured, 5.50%, 5/01/33 5,000,000 5,424,400 Series E, BHAC Insured, 5.00%, 12/01/22 9,200,000 9,951,548 Madison County IDA Civic Facility Revenue, Colgate University Project, Series A, NATL Insured, 5.00%, 7/01/39 3,250,000 3,327,253 Morrisville State College Foundation, Series A, CIFG Insured, 5.00%, 6/01/37 1,000,000 803,760 Middle Country Central School District at Centereach GO, FSA Insured, 4.875%, 6/01/20 1,650,000 1,697,454 Monroe County IDA Civic Facility Revenue, Nazareth College Rochester Project, NATL Insured, 5.25%, 10/01/21 1,520,000 1,571,619 5.00%, 10/01/31 3,100,000 3,144,051 Mount Sinai Union Free School District, Refunding, AMBAC Insured, 6.20%, 2/15/13 1,055,000 1,202,595 MTA Commuter Facilities Revenue, Series A, FSA Insured, Pre-Refunded, 5.00%, 7/01/23 3,000,000 3,202,890 MTA Dedicated Tax Fund Revenue, Refunding, Series A, NATL Insured, 5.00%, 11/15/30 15,250,000 15,504,675 Series A, FGIC Insured, Pre-Refunded, 6.00%, 4/01/30 2,500,000 2,534,150 Series A, NATL Insured, 5.00%, 11/15/35 16,000,000 16,184,160 MTA Revenue, Refunding, Series A, FGIC Insured, 5.25%, 11/15/31 4,000,000 4,085,840 MTA Service Contract Revenue, Refunding, AMBAC Insured, 5.00%, 7/01/30 7,000,000 7,102,760 Series B, NATL Insured, 5.00%, 1/01/31 3,000,000 3,039,120 Nassau County GO, General Improvement, Series C, Assured Guaranty, 5.00%, 10/01/30 5,735,000 6,112,363 General Improvement, Series C, Assured Guaranty, 5.00%, 10/01/31 6,025,000 6,386,741 Public Improvement, Series E, FSA Insured, Pre-Refunded, 6.00%, 3/01/20 1,510,000 1,523,228 Nassau County Sewer and Storm Water Finance Authority System Revenue, Refunding, Series A, BHAC Insured, 5.375%, 11/01/28 2,000,000 2,219,820 New York City Educational Construction Fund Revenue, Series A, BHAC Insured, 5.00%, 4/01/37 19,750,000 20,426,832 New York City GO, Refunding, Series A, FSA Insured, 5.00%, 8/01/26 9,450,000 9,879,786 Refunding, Series A, NATL Insured, 6.00%, 5/15/30 15,000 15,287 Series A, NATL Insured, Pre-Refunded, 6.00%, 5/15/30 1,985,000 2,045,979 Series D, 5.125%, 12/01/28 5,000,000 5,280,550 New York City Health and Hospital Corp. Revenue, Health System, Series A, FSA Insured, 5.125%, 2/15/23 3,890,000 3,971,962 New York City IDA Civic Facility Revenue, Polytechnic Prep Country Day School, FSA Insured, 5.375%, 5/01/29 980,000 1,000,472 New York City IDAR, Queens Baseball Stadium, Pilot, AMBAC Insured, 5.00%, 1/01/46 10,000,000 9,075,300 Yankee Stadium, Pilot, Assured Guaranty, 7.00%, 3/01/49 4,000,000 4,661,440 New York City Municipal Water Authority Revenue, Refunding, Series E, FGIC Insured, 5.00%, 6/15/26 1,000,000 1,016,800 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 5,073,500 Series G, FSA Insured, 5.00%, 6/15/34 1,000,000 1,010,350 New York City Transitional Finance Authority Building Aid Revenue, Fiscal 2007, Series S-1, FGIC Insured, 5.00%, 7/15/31 8,200,000 8,375,152 New York City Transitional Finance Authority Revenue, Future Tax Secured, Series A, FGIC Insured, 5.00%, 5/01/28 5,915,000 6,009,758 Series A, FGIC Insured, Pre-Refunded, 5.00%, 5/01/28 85,000 90,105 Series C, 4.75%, 5/01/23 345,000 347,232 Series D, NATL Insured, 5.00%, 2/01/22 2,000,000 2,156,040 New York City Transportation Authority MTA Triborough Bridge and Tunnel Authority COP, AMBAC Insured, Pre-Refunded, 5.75%, 1/01/20 3,000,000 3,030,000 New York City Trust for Cultural Resources Revenue, Museum of Modern Art 2001, Series D, AMBAC Insured, 5.125%, 7/01/31 7,500,000 7,637,325
Quarterly Statement of Investments See Notes to Statements of Investments Franklin New York Tax-Free Trust Franklin New York Insured Tax-Free Income Fund STATEMENT OF INVESTMENTS, DECEMBER 31, 2009 (UNAUDITED) (CONTINUED) New York Convention Center Development Corp. Revenue, Hotel Unit Fee Secured, AMBAC Insured, 5.00%, 11/15/44 $10,000,000 $ 9,434,000 New York State Dormitory Authority Revenues, 853 Schools Program, Issue 2, Series E, AMBAC Insured, 5.75%, 7/01/19 1,340,000 1,355,959 Delaware Chenango Madison Otsego Board of Cooperative Education Services, XLCA Insured, 5.00%, 8/15/27 10,000,000 10,410,200 Good Samaritan Hospital Medical Center, Series A, NATL Insured, 5.50%, 7/01/24 2,000,000 1,990,120 Insured Mortgage, Montefiore Hospital, FGIC Insured, 5.00%, 8/01/33 11,000,000 11,266,530 Maimonides Medical Center, NATL Insured, 5.00%, 8/01/24 6,190,000 6,357,501 Master Boces Program, Series A, FSA Insured, 5.25%, 8/15/21 1,740,000 1,787,972 Mental Health Services Facilities Improvement, Series A, NATL Insured, Pre-Refunded, 5.25%, 8/15/26 2,570,000 2,766,168 Mortgage Nursing Home, NATL Insured, 5.40%, 2/01/31 355,000 360,694 Mortgage Nursing Home, NATL Insured, 5.50%, 2/01/41 1,880,000 1,898,913 Non-State Supported Debt, Albany Public Library, AMBAC Insured, 5.00%, 7/01/37 10,720,000 10,799,757 Non-State Supported Debt, Educational Housing Services, CUNY Student Housing Project, AMBAC Insured, 5.25%, 7/01/30 5,150,000 4,873,445 Non-State Supported Debt, Fashion Institute Student Housing Corp., FGIC Insured, 5.25%, 7/01/34 13,220,000 12,778,188 Non-State Supported Debt, Health Quest Systems, Series A, Assured Guaranty, 5.25%, 7/01/27 1,500,000 1,575,690 Non-State Supported Debt, Health Quest Systems, Series B, Assured Guaranty, 5.25%, 7/01/27 2,500,000 2,626,150 Non-State Supported Debt, Hospital for Special Surgery, FHA Insured, 6.25%, 8/15/34 3,750,000 4,109,962 Non-State Supported Debt, Hospital for Special Surgery, FHA Insured, 6.00%, 8/15/38 3,250,000 3,487,672 Non-State Supported Debt, Hospital for Special Surgery, NATL Insured, 5.00%, 8/15/29 2,500,000 2,522,300 Non-State Supported Debt, Mount Sinai School Medical New York University, Refunding, NATL Insured, 5.00%, 7/01/35 5,000,000 4,964,350 Non-State Supported Debt, New York University, Series A, AMBAC Insured, 5.00%, 7/01/37 20,000,000 20,578,200 Non-State Supported Debt, NYSARC Inc., Refunding, Series A, FSA Insured, 5.00%, 7/01/34 5,510,000 5,581,134 Non-State Supported Debt, Pratt Institute, Series C, Assured Guaranty, 5.00%, 7/01/29 3,775,000 3,955,067 Non-State Supported Debt, School District Financing Program, Refunding, Series A, FSA Insured, 5.00%, 10/01/22 7,645,000 8,174,416 Non-State Supported Debt, School District Financing Program, Series A, Assured Guaranty, 5.625%, 10/01/29 3,000,000 3,273,360 Non-State Supported Debt, School District Financing Program, Series C, FSA Insured, 5.00%, 10/01/32 5,000,000 5,261,550 Non-State Supported Debt, The New School, Refunding, NATL Insured, 5.00%, 7/01/46 12,000,000 12,052,680 NYSARC Inc., Series A, FSA Insured, 5.00%, 7/01/26 1,700,000 1,755,352 Pace University, NATL Insured, Pre-Refunded, 6.00%, 7/01/29 3,000,000 3,114,330 School Districts Financing Program, Series D, NATL Insured, 5.25%, 10/01/23 1,750,000 1,839,898 School Districts Financing Program, Series D, NATL Insured, 5.00%, 10/01/30 1,750,000 1,805,370 Secondarily Insured, Lease, State University, AMBAC Insured, 5.00%, 7/01/32 5,000,000 5,122,250 Secondarily Insured, State University Educational Facilities, Third General Resolution, Refunding, Series A, Assured Guaranty, 5.50%, 5/15/22 5,000,000 5,699,200 Series 1, NATL Insured, 5.00%, 7/01/24 2,000,000 2,048,760 Siena College, NATL Insured, 5.00%, 7/01/31 3,500,000 3,553,865 St. John's University, Series A, NATL Insured, Pre-Refunded, 5.25%, 7/01/30 3,500,000 3,781,680 State Supported Debt, Lease, State University Dormitory Facilities, Series A, NATL Insured, 5.00%, 7/01/36 4,670,000 4,690,501 Upstate Community Colleges, NATL Insured, Pre-Refunded, 5.125%, 7/01/30 5,945,000 6,146,298 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 3,526,600 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 3,009,810 New York State HFAR, MFH, Affordable Housing, Series B, 4.50%, 11/01/29 2,000,000 1,988,980 New York State Local Government Assistance Corp. Revenue, senior lien, Refunding, Series B-C/D, 5.00%, 4/01/20 5,000,000 5,637,750 New York State Municipal Bond Bank Agency Special Program Revenue, Buffalo, Series A, AMBAC Insured, 5.25%, 5/15/31 4,000,000 4,052,560 New York State Power Authority Revenue, Series A, NATL Insured, 5.00%, 11/15/47 10,000,000 10,327,300 New York State Thruway Authority Second General Highway and Bridge Trust Fund Revenue, Series A, FSA Insured, 5.00%, 4/01/24 7,420,000 7,892,877 New York State Urban Development Corp. Revenue, State Personal Income Tax, Series A-1, 5.00%, 12/15/27 5,000,000 5,351,250
Franklin New York Tax-Free Trust Franklin New York Insured Tax-Free Income Fund STATEMENT OF INVESTMENTS, DECEMBER 31, 2009 (UNAUDITED) (CONTINUED) Niagara Falls City School District COP, High School Facility, Refunding, FSA Insured, 5.00%, 6/15/28 $ 4,155,000 $ 3,896,310 Niagara Falls Public Improvement GO, NATL Insured, 6.85%, 3/01/19 5,000 5,001 North Hempstead GO, Refunding, Series B, FGIC Insured, 6.40%, 4/01/15 1,065,000 1,276,285 4/01/16 1,000,000 1,209,720 Oswego County IDA Civic Facility Revenue, Oswego School District Public Library Project, XLCA Insured, 5.00%, 12/15/30 1,805,000 1,869,132 Rensselaer City School District COP, XLCA Insured, 5.00%, 6/01/36 20,240,000 17,767,482 Rensselaer County GO, AMBAC Insured, 6.70%, 2/15/11 810,000 861,500 Rockland County IDA Civic Facility Revenue, Nyack Library Project, Series A, AMBAC Insured, 5.00%, 12/01/32 2,000,000 2,014,180 12/01/37 3,320,000 3,319,834 Sachem Central School District Holbrook GO, NATL Insured, Pre-Refunded, 5.00%, 6/15/30 1,000,000 1,132,810 Schenectady IDA Civic Facility Revenue, Schaffer Heights, Series A, GNMA Secured, 6.00%, 11/01/30 3,000,000 3,089,070 Schaffer Heights, Series A, GNMA Secured, 6.05%, 11/01/35 2,375,000 2,438,864 Union College Project, Series A, AMBAC Insured, 5.00%, 7/01/32 2,395,000 2,448,720 Tobacco Settlement Financing Corp. Revenue, Asset-Backed, Series A-1C, AMBAC Insured, 5.25%, 6/01/21 6,000,000 6,296,520 Triborough Bridge and Tunnel Authority Revenues, General Purpose, Series B, NATL Insured, Pre-Refunded, 5.20%, 1/01/27 1,000,000 1,204,440 Warren and Washington Counties IDA Civic Facility Revenue, Series B, FSA Insured, 5.00%, 12/01/27 3,680,000 3,844,091 Westchester County Health Care Corp. Revenue, Series B, 5.375%, 11/01/30 1,500,000 1,519,155 ------------- TOTAL MUNICIPAL BONDS BEFORE SHORT TERM INVESTMENTS (COST $497,246,345) 498,245,227 ------------- SHORT TERM INVESTMENTS 0.4% MUNICIPAL BONDS 0.4% NEW YORK 0.4% (a) New York City GO, Refunding, Series J, Sub Series J-4, Daily VRDN and Put, 0.22%, 8/01/25 400,000 400,000 Series E, Sub Series E-2, Daily VRDN and Put, 0.22%, 8/01/34 1,500,000 1,500,000 ------------- TOTAL SHORT TERM INVESTMENTS (COST $1,900,000) 1,900,000 ------------- TOTAL INVESTMENTS (COST $499,146,345) 98.7% 500,145,227 OTHER ASSETS, LESS LIABILITIES 1.3% 6,714,523 ------------- NET ASSETS 100.0% $ 506,859,750 =============
(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. Franklin New York Tax-Free Trust Franklin New York Insured Tax-Free Income Fund STATEMENT OF INVESTMENTS, DECEMBER 31, 2009 (UNAUDITED) (CONTINUED) ABBREVIATIONS SELECTED PORTFOLIO AMBAC American Municipal Bond Assurance Corp. BHAC Berkshire Hathaway Assurance Corp. CIFG CDC IXIS Financial Guaranty COP Certificate of Participation FGIC Financial Guaranty Insurance Co. FHA Federal Housing Authority/Agency FSA Financial Security Assurance Inc. GNMA Government National Mortgage Association GO General Obligation HFAR Housing Finance Authority Revenue IDA Industrial Development Authority/Agency IDAR Industrial Development Authority Revenue MFH Multi-Family Housing MTA Metropolitan Transit Authority NATL National Public Financial Guarantee Corp. PCR Pollution Control Revenue XLCA XL Capital Assurance Franklin New York Tax-Free Trust Franklin New York Intermediate-Term Tax-Free Income Fund STATEMENT OF INVESTMENTS, DECEMBER 31, 2009 (UNAUDITED)
PRINCIPAL AMOUNT VALUE ----------- ------------- MUNICIPAL BONDS 98.0% NEW YORK 90.7% Albany County Airport Authority Revenue, Series B, FSA Insured, 4.75%, 12/15/13 $ 1,850,000 $ 1,862,783 Albany IDA Civic Facility Revenue, St. Peter's Hospital Project, Series A, 5.75%, 11/15/22 4,090,000 4,143,783 St. Rose Project, Series A, AMBAC Insured, Pre-Refunded, 5.00%, 7/01/12 420,000 452,248 Amherst IDA Civic Facility Revenue, Mandatory Put 10/01/11, Refunding, Series A, Radian Insured, 4.20%, 10/01/31 4,035,000 4,046,217 University of Buffalo Foundation, Student Housing, Creekside Project, Series A, AMBAC Insured, 4.625%, 8/01/16 1,030,000 1,089,276 Bath Central School District GO, Refunding, FGIC Insured, 4.00%, 6/15/19 1,850,000 1,861,951 Buffalo GO, Refunding, Series C, FGIC Insured, 5.25%, 12/01/15 1,225,000 1,276,732 Byram Hills Central School District GO, ETM, 4.00%, 11/15/10 1,375,000 1,418,821 Canisteo Central School District GO, Refunding, FSA Insured, 4.25%, 6/15/14 1,080,000 1,141,852 Clarence Central School District GO, Refunding, FSA Insured, 4.75%, 5/15/15 2,390,000 2,518,534 Connetquot Central School District Islip GO, Series B, FSA Insured, Pre-Refunded, 4.40%, 6/15/16 1,000,000 1,028,480 Dansville Central School District GO, Refunding, Series B, FGIC Insured, 4.25%, 6/15/11 930,000 973,152 4.35%, 6/15/12 870,000 930,300 4.45%, 6/15/13 995,000 1,060,163 Erie County GO, FGIC Insured, 4.70%, 11/01/12 585,000 588,697 Erie County IDA School Facility Revenue, City School District Buffalo Project, Series A, 5.25%, 5/01/24 16,520,000 17,661,202 Erie County Water Authority Water Revenue, Refunding, 5.00%, 12/01/17 1,935,000 2,192,336 Fayetteville-Manlius Central School District GO, Refunding, FGIC Insured, 4.50%, 6/15/15 1,095,000 1,152,838 Guilderland Central School District, Refunding, Series A, FSA Insured, 4.00%, 5/15/10 1,260,000 1,277,048 Harborfields Central School District Greenlawn GO, FSA Insured, Pre-Refunded, 5.00%, 6/01/17 2,105,000 2,237,847 Highland Central School District GO, Refunding, FSA Insured, 4.125%, 6/15/16 1,080,000 1,111,979 Holland Patent Central School District GO, NATL Insured, ETM, 4.25%, 6/15/10 1,125,000 1,145,306 Huntington GO, Public Improvement, 4.20%, 9/01/13 1,230,000 1,261,992 Islip Union Free School District No. 002 GO, Refunding, FGIC Insured, 5.00%, 7/01/18 2,215,000 2,369,253 Livingston County GO, Public Improvement, FSA Insured, 4.00%, 7/15/21 1,450,000 1,493,311 Long Island Power Authority Electric System Revenue, General, Refunding, Series A, FGIC Insured, 5.00%, 12/01/19 5,000,000 5,323,350 Series E, 5.00%, 12/01/22 500,000 526,795 Madison County IDA Civic Facility Revenue, Morrisville State College Foundation, Series A, CIFG Insured, 5.00%, 6/01/15 1,000,000 998,550 Middle Country Central School District at Centereach GO, FSA Insured, 4.75%, 6/01/17 1,650,000 1,696,629 Monroe County GO, Public Improvement, FGIC Insured, 4.30%, 3/01/13 3,015,000 3,106,204 Series A, Assured Guaranty, 4.50%, 6/01/20 2,855,000 2,867,933 Series A, Assured Guaranty, 4.75%, 6/01/23 2,860,000 2,898,867 Montgomery Otsego Schoharie Counties Solid Waste Management Authority Revenue, Refunding, NATL Insured, 4.00%, 1/01/13 1,920,000 2,093,184 MTA Revenue, Series B, NATL Insured, 5.25%, 11/15/20 11,250,000 12,657,712 Transportation, Series A, FSA Insured, 5.50%, 11/15/22 8,765,000 10,124,013 MTA Service Contract Revenue, Refunding, Series A, 5.50%, 7/01/15 5,000,000 5,706,700 5.75%, 7/01/18 1,310,000 1,515,408 NATL Insured, 5.50%, 1/01/19 480,000 510,317 MTA Transit Facilities Revenue, Series C, FSA Insured, Pre-Refunded, 4.75%, 7/01/16 1,370,000 1,505,082 7/01/16 545,000 589,701 Nassau County GO, Refunding, Series A, FGIC Insured, 6.00%, 7/01/11 1,000,000 1,074,500 Nassau County Interim Finance Authority Revenue, Sales Tax Secured, Refunding, Series H, AMBAC Insured, 5.25%, 11/15/17 1,500,000 1,660,770 New York Bridge Authority Revenue, General, 4.125%, 1/01/13 4,000,000 4,208,720 New York City GO, Refunding, Series A-1, 5.00%, 8/01/17 500,000 556,865 Refunding, Series F, 5.25%, 8/01/13 1,095,000 1,152,783
Quarterly Statement of Investments See Notes to Statements of Investments Franklin New York Tax-Free Trust Franklin New York Intermediate-Term Tax-Free Income Fund STATEMENT OF INVESTMENTS, DECEMBER 31, 2009 (UNAUDITED) (CONTINUED) Refunding, Series G, XLCA Insured, 5.50%, 8/01/12 $ 2,000,000 $ 2,208,360 Series C, NATL Insured, 5.00%, 8/01/16 500,000 552,280 Series E, 5.00%, 8/01/19 3,000,000 3,249,180 Series G, 5.00%, 8/01/15 325,000 365,193 Series G, Refunding, 5.00%, 8/01/14 200,000 224,678 Series H, 4.125%, 8/01/11 1,560,000 1,641,229 Series L, Sub Series L-1, 5.00%, 4/01/23 10,000,000 10,651,900 New York City HDC, MFHR, Series C-1, 5.00%, 11/01/24 2,810,000 2,877,328 New York City Health and Hospital Corp. Revenue, Health System, Refunding, Series A, AMBAC Insured, 4.60%, 2/15/12 1,000,000 1,003,570 Series A, FSA Insured, 4.15%, 2/15/12 750,000 785,175 Series A, FSA Insured, 4.30%, 2/15/13 1,000,000 1,044,700 New York City IDA Civic Facility Revenue, FSA Insured, 5.00%, 11/15/19 1,000,000 1,054,560 Institute of International Education Inc. Project, 5.125%, 9/01/16 2,320,000 2,393,892 New York City IDAR, AMBAC Insured, 5.00%, 1/01/18 550,000 570,664 Capital Appreciation, Yankee Stadium, Pilot, Assured Guaranty, zero cpn., 3/01/21 10,150,000 5,694,556 New York City Transitional Finance Authority Building Aid Revenue, Fiscal 2007, Series S-1, NATL Insured, 5.00%, 7/15/18 550,000 597,773 Fiscal 2009, Series S-3, 5.00%, 1/15/22 11,865,000 12,756,299 Fiscal 2009, Series S-4, 5.00%, 1/15/20 1,000,000 1,084,580 New York City Transitional Finance Authority Revenue, Future Tax Secured, Series A, 5.25%, 5/01/17 400,000 420,216 Future Tax Secured, Series A, 5.00%, 5/01/22 10,000,000 11,016,300 Future Tax Secured, Series B, 4.75%, 11/01/16 435,000 439,989 Future Tax Secured, Series B, Pre-Refunded, 6.00%, 11/15/13 1,000,000 1,030,900 Future Tax Secured, Series C, 5.00%, 11/01/22 160,000 173,757 sub. bond, Future Tax Secured, Refunding, Series B, 5.00%, 11/01/23 5,000,000 5,406,550 New York City Trust for Cultural Resources Revenue, Museum of Modern Art, Refunding, Series 1A, 5.00%, 10/01/10 1,000,000 1,032,860 New York Convention Center Development Corp. Revenue, Hotel Unit Fee Secured, AMBAC Insured, 5.00%, 11/15/20 5,775,000 6,015,471 New York State Dormitory Authority Lease Revenue, Delaware Chenango Madison Otsego Board of Cooperative Education Services, XLCA Insured, 5.00%, 8/15/21 5,340,000 5,708,780 Master Boces Program, FSA Insured, 5.25%, 8/15/19 1,000,000 1,046,530 State University Dormitory Facilities, Series A, Pre-Refunded, 5.50%, 7/01/12 1,815,000 1,879,759 New York State Dormitory Authority Revenues, Department of Health, Refunding, 5.25%, 7/01/16 500,000 540,995 Department of Health, Refunding, 5.25%, 7/01/17 5,000,000 5,356,050 Department of Health, Refunding, Series 2, 5.00%, 7/01/19 3,740,000 3,939,267 Department of Health, Refunding, Sub Series 2, FGIC Insured, 5.00%, 7/01/18 5,000,000 5,249,500 Hospital, Maimonides, NATL Insured, 5.00%, 8/01/17 1,720,000 1,818,350 Hospital, Maimonides, NATL Insured, 5.00%, 8/01/19 1,895,000 1,972,562 Hospital Insured Mortgage, Series A, FSA Insured, 5.25%, 8/15/15 5,000,000 5,478,400 Mandatory Put 5/15/12, Refunding, Series B, 5.25%, 11/15/23 2,000,000 2,176,520 Memorial Sloan-Kettering Cancer Center, Series C, NATL Insured, 5.50%, 7/01/23 1,300,000 1,516,814 Montefiore Hospital, FGIC Insured, 5.00%, 2/01/18 2,975,000 3,131,128 Mount St. Mary College, Radian Insured, 4.00%, 7/01/12 2,080,000 2,103,566 New York University, Series 1, AMBAC Insured, 5.50%, 7/01/18 500,000 577,635 Non-State Supported Debt, Bishop Henry B. Hucles Nursing, 5.00%, 7/01/24 4,765,000 4,935,635 Non-State Supported Debt, Cornell University, Refunding, Series A, 5.00%, 7/01/39 1,000,000 1,050,080 Non-State Supported Debt, Mount Sinai School of Medicine of New York University, Refunding, NATL Insured, 5.00%, 7/01/19 2,500,000 2,619,125 Non-State Supported Debt, Mount Sinai School of Medicine of New York University, Refunding, NATL Insured, 5.00%, 7/01/20 3,670,000 3,813,864 Non-State Supported Debt, Municipal Health Facilities, Lease, Series 2, Sub Series 2-2, 5.00%, 1/15/21 6,675,000 7,063,485 Non-State Supported Debt, New York University, Series A, AMBAC Insured, 5.00%, 7/01/23 2,000,000 2,145,660 Non-State Supported Debt, North Shore Long Island Jewish Obligated Group, Refunding, Series A, 5.00%, 5/01/23 2,000,000 1,978,780 Non-State Supported Debt, North Shore Long Island Jewish Obligated Group, Refunding, Series E, 5.00%, 5/01/19 5,000,000 5,115,600 Non-State Supported Debt, North Shore Long Island Jewish Obligated Group, Refunding, Series E, 5.00%, 5/01/20 11,695,000 11,702,836
Franklin New York Tax-Free Trust Franklin New York Intermediate-Term Tax-Free Income Fund STATEMENT OF INVESTMENTS, DECEMBER 31, 2009 (UNAUDITED) (CONTINUED) Non-State Supported Debt, Refunding, Series A, FSA Insured, 5.25%, 7/01/18 $ 1,445,000 $ 1,531,801 Non-State Supported Debt, School District Bond Financing Program, Series C, Assured Guaranty, 7.25%, 10/01/28 7,615,000 9,125,359 Non-State Supported Debt, School Districts Bond Financing Program, Series A, Assured Guaranty, 5.00%, 10/01/24 5,000,000 5,362,100 Non-State Supported Debt, Series A, FSA Insured, Pre-Refunded, 5.25%, 7/01/18 15,000 16,791 Non-State Supported Debt, St. John's University, Series A, NATL Insured, 5.00%, 7/01/24 1,000,000 1,038,560 Non-State Supported Debt, Student Housing Corp., NATL Insured, 5.25%, 7/01/22 1,250,000 1,320,425 Non-State Supported Debt, United Health Hospitals, FHA Insured, 4.50%, 8/01/18 5,000,000 5,329,150 Non-State Supported Debt, University of Rochester, Series A-1, 5.00%, 7/01/22 500,000 526,165 Non-State Supported Debt, Upstate Community, Refunding, Series B, NATL Insured, 5.50%, 7/01/22 10,000,000 11,569,700 Secondarily Insured, City University, Consolidated 5th General Resources, Refunding, Series B, BHAC Insured, 5.00%, 7/01/21 10,160,000 11,317,834 Secured Hospital, Catskill Regional, Refunding, FGIC Insured, 5.25%, 2/15/18 2,300,000 2,457,849 St. John's University, Series A, NATL Insured, 5.00%, 7/01/14 750,000 783,622 State Supported Debt, City University System, Consolidated Fifth General Resolution, Series A, NATL Insured, 5.50%, 7/01/22 9,240,000 10,591,720 State Supported Debt, FSA Insured, 5.00%, 2/15/19 5,470,000 5,968,864 State Supported Debt, FSA Insured, 5.00%, 2/15/20 3,500,000 3,797,745 State Supported Debt, FSA Insured, 5.00%, 2/15/21 5,475,000 5,894,987 State Supported Debt, Lease, State University Dormitory Facilities, Series A, NATL Insured, 5.00%, 7/01/21 1,980,000 2,099,097 State Supported Debt, Lease, State University Dormitory Facilities, Series A, NATL Insured, 5.00%, 7/01/22 1,730,000 1,827,970 State Supported Debt, Mental Health Services Facilities Improvement, NATL Insured, 5.00%, 2/15/15 1,245,000 1,370,757 State University Educational Facilities, Third General Resolution, Refunding, Series A, NATL Insured, 5.50%, 5/15/21 7,000,000 7,991,830 Teachers College, NATL Insured, 4.00%, 7/01/12 1,000,000 1,069,910 University of Rochester, Series A, Pre-Refunded, 5.25%, 7/01/21 500,000 583,420 New York State Dormitory Authority State Personal Income Tax Revenue, Education, Series D, 5.00%, 3/15/14 1,000,000 1,127,750 Series F, 5.00%, 3/15/23 1,000,000 1,066,190 New York State Energy Research and Development Authority PCR, New York State Electric and Gas Corp. Project, NATL Insured, 4.10%, 3/15/15 2,000,000 2,018,680 Series B, NATL Insured, 4.00%, 10/15/15 5,000,000 5,029,750 Series D, NATL Insured, 4.10%, 12/01/15 2,000,000 2,013,000 New York State Environmental Facilities Corp. State Clean Water and Drinking Revenue, Revolving Funds, Series B, 5.80%, 1/15/16 1,010,000 1,021,918 New York State Environmental Facilities Corp. State Personal Income Tax Revenue, Series A, 5.00%, 12/15/21 1,115,000 1,238,821 New York State GO, Series A, 3.50%, 3/15/12 1,000,000 1,057,410 New York State Local Government Assistance Corp. Revenue, senior lien, Refunding, Series B-C/D, 5.00%, 4/01/20 5,000,000 5,637,750 New York State Municipal Bond Bank Agency Revenue, Series C, Sub Series C1, Assured Guaranty, 5.00%, (a)2/15/20 5,705,000 6,234,880 2/15/21 5,790,000 6,297,436 2/15/22 4,615,000 4,995,461 New York State Municipal Bond Bank Agency Special School Purpose Revenue, Series C, 5.50%, 12/01/12 650,000 722,592 New York State Power Authority Revenue, Refunding, Series C, NATL Insured, 5.00%, 11/15/17 1,000,000 1,148,860 New York State Thruway Authority General Revenue, Series F, AMBAC Insured, 5.00%, 1/01/22 6,535,000 6,949,123 New York State Thruway Authority Highway and Bridge Trust Fund Revenue, Second General, Refunding, Series B, AMBAC Insured, 5.00%, 4/01/21 5,000,000 5,348,900 Second General, Series B, 5.00%, 4/01/18 5,000,000 5,579,550 Series A, FSA Insured, 5.25%, 4/01/12 1,620,000 1,773,365 New York State Thruway Authority Second General Highway and Bridge Trust Fund Revenue, Series A, NATL Insured, 5.00%, 4/01/22 1,000,000 1,060,550 Series B, 5.00%, 4/01/21 5,000,000 5,529,050 New York State Thruway Authority Service Contract Revenue, Local Highway and Bridge, Refunding, 5.00%, 4/01/20 5,000,000 5,514,150
Franklin New York Tax-Free Trust Franklin New York Intermediate-Term Tax-Free Income Fund STATEMENT OF INVESTMENTS, DECEMBER 31, 2009 (UNAUDITED) (CONTINUED) New York State Thruway Authority State Personal Income Tax Revenue, Transportation, Series A, 5.00%, 3/15/21 $10,000,000 $ 11,136,500 NATL Insured, 5.00%, 3/15/21 500,000 525,680 New York State Urban Development Corp. Revenue, Corporate Purpose, sub. lien, Series A, 5.125%, 1/01/22 885,000 916,320 Refunding, Series D, Assured Guaranty, 5.50%, 1/01/19 10,000,000 11,275,700 State Personal Income Tax, Series A-1, 5.00%, 12/15/22 1,500,000 1,659,300 State Personal Income Tax, Series A-1, 5.00%, 12/15/23 2,500,000 2,751,450 State Personal Income Tax, Series B, FSA Insured, 5.00%, 3/15/21 1,000,000 1,073,540 State Personal Income Tax, Series C-1, Empire State, 4.125%, 12/15/16 1,490,000 1,573,440 State Personal Income Tax, Series C-1, Empire State, 4.25%, 12/15/17 1,955,000 2,054,842 Olean City School District GO, Refunding, FGIC Insured, 4.375%, 6/15/17 1,335,000 1,367,748 Onondaga County Water Authority Water Revenue, General, Series A, FSA Insured, 5.00%, 9/15/14 300,000 309,483 9/15/15 665,000 683,959 Orange County GO, Various Purpose, 4.00%, 7/01/24 1,250,000 1,287,200 Rochester GO, NATL Insured, ETM, 4.125%, 2/15/10 520,000 522,205 Refunding, NATL Insured, 4.125%, 2/15/10 490,000 491,936 Sales Tax Asset Receivable Corp. Revenue, Series A, NATL Insured, 5.25%, 10/15/18 5,000,000 5,605,500 Saratoga Springs City School District GO, Series A, FSA Insured, 4.50%, 6/15/15 1,025,000 1,064,770 Schenectady Metroplex Development Authority Revenue, FGIC Insured, 4.50%, 9/15/21 1,720,000 1,763,413 Southampton Town GO, Open Space Preservation, 4.00%, 12/15/22 1,000,000 1,045,940 St. Lawrence County IDA Civic Facility Revenue, St. Lawrence University, Series A, 5.00%, 10/01/16 12,000,000 13,161,720 Suffolk County GO, Refunding, Series B, FSA Insured, 5.25%, 5/01/15 100,000 115,664 Suffolk County Water Authority Waterworks Revenue, sub. lien, Refunding, NATL Insured, 5.10%, 6/01/13 2,000,000 2,241,500 Tobacco Settlement Financing Corp. Revenue, Asset-Backed, Series A-1C, 5.50%, 6/01/19 5,000,000 5,318,000 Series A-1C, AMBAC Insured, 5.25%, 6/01/21 4,200,000 4,407,564 Series B-1C, 5.50%, 6/01/21 1,000,000 1,057,350 Triborough Bridge and Tunnel Authority Revenues, Refunding, NATL Insured, 5.00%, 11/15/20 1,330,000 1,404,919 Upper Mohawk Valley Regional Water Finance Authority Water System Revenue, AMBAC Insured, 5.75%, 4/01/20 165,000 167,648 Pre-Refunded, 5.75%, 4/01/20 835,000 854,355 Webster Central School District GO, Refunding, FSA Insured, 5.00%, 6/15/14 500,000 570,525 Western Nassau County Water Authority Water System Revenue, AMBAC Insured, 5.00%, 5/01/19 1,525,000 1,604,803 Yonkers GO, Series A, AMBAC Insured, Pre-Refunded, 5.00%, 12/15/14 1,795,000 1,833,341 Series E, NATL Insured, 5.00%, 12/01/14 750,000 822,555 Yorktown Central School District GO, NATL Insured, 4.625%, 6/15/18 1,890,000 1,937,855 ------------- 519,830,632 ------------- U.S. TERRITORIES 7.3% PUERTO RICO 5.6% Puerto Rico Commonwealth Aqueduct and Sewer Authority Revenue, senior lien, Series A, Assured Guaranty, 5.00%, 7/01/16 5,190,000 5,666,546 Puerto Rico Commonwealth GO, Public Improvement, Assured Guaranty, 5.25%, 7/01/18 1,820,000 1,987,804 Puerto Rico Commonwealth Highway and Transportation Authority Grant Anticipation Revenue, Refunding, NATL Insured, 5.00%, 9/15/17 1,000,000 1,030,780 Puerto Rico Commonwealth Highway and Transportation Authority Transportation Revenue, Refunding, Series N, Assured Guaranty, 5.50%, 7/01/21 4,000,000 4,458,400 Puerto Rico Commonwealth Infrastructure Financing Authority Special Tax Revenue, Refunding, Series C, BHAC Insured, 5.50%, 7/01/20 11,550,000 13,430,571 Puerto Rico Electric Power Authority Power Revenue, Refunding, Series NN, NATL Insured, 5.25%, 7/01/22 1,000,000 1,033,340 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 2,516,821 3/01/21 2,555,000 2,220,090
Franklin New York Tax-Free Trust Franklin New York Intermediate-Term Tax-Free Income Fund STATEMENT OF INVESTMENTS, DECEMBER 31, 2009 (UNAUDITED) (CONTINUED) Puerto Rico PBA Guaranteed Revenue, Government Facilities, Series I, Pre-Refunded, 5.25%, 7/01/33 $ 10,000 $ 11,504 ------------- 32,355,856 ------------- VIRGIN ISLANDS 1.7% Virgin Islands PFAR, senior lien, Refunding, Series B, 5.00%, 10/01/19 7,850,000 7,976,542 Virgin Islands Water and Power Authority Electric System Revenue, Refunding, 5.125%, 7/01/13 1,775,000 1,791,773 ------------- 9,768,315 ------------- TOTAL U.S. TERRITORIES 42,124,171 ------------- TOTAL MUNICIPAL BONDS BEFORE SHORT TERM INVESTMENTS (COST $546,734,733) 561,954,803 ------------- SHORT TERM INVESTMENTS 1.4% MUNICIPAL BONDS 1.4% NEW YORK 1.4% (b) New York City GO, Series E, Sub Series E-2, Daily VRDN and Put, 0.20%, 8/01/20 2,300,000 2,300,000 0.22%, 8/01/34 800,000 800,000 (b) New York City IDAR, Liberty, One Bryant Park LLC, Series B, Daily VRDN and Put, 0.23%, 11/01/39 2,400,000 2,400,000 New York State Dormitory Authority Revenues, Non-State Supported Debt, University of Rochester, Refunding, Series B, 2.50%, 7/01/10 1,445,000 1,459,436 (b) Port Authority of New York and New Jersey Special Obligation Revenue, Versatile Structure Obligations, Refunding, Series 3, Daily VRDN and Put, 0.22%, 6/01/20 800,000 800,000 ------------- TOTAL SHORT TERM INVESTMENTS (COST $7,757,744) 7,759,436 ------------- TOTAL INVESTMENTS (COST $554,492,477) 99.4% 569,714,239 OTHER ASSETS, LESS LIABILITIES 0.6% 3,335,269 ------------- NET ASSETS 100.0% $ 573,049,508 =============
(a) Security purchased on a when-issued 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. Franklin New York Tax-Free Trust Franklin New York Intermediate-Term Tax-Free Income Fund STATEMENT OF INVESTMENTS, DECEMBER 31, 2009 (UNAUDITED) (CONTINUED) ABBREVIATIONS SELECTED PORTFOLIO AMBAC American Municipal Bond Assurance Corp. BHAC Berkshire Hathaway Assurance Corp. CIFG CDC IXIS Financial Guaranty ETM Escrow to Maturity FGIC Financial Guaranty Insurance Co. FHA Federal Housing Authority/Agency FSA Financial Security Assurance Inc. GO General Obligation HDC Housing Development Corp. IDA Industrial Development Authority/Agency IDAR Industrial Development Authority Revenue MFHR Multi-Family Housing Revenue MTA Metropolitan Transit Authority NATL National Public Financial Guarantee Corp. PBA Public Building Authority PCR Pollution Control Revenue PFAR Public Financing Authority Revenue XLCA XL Capital Assurance FRANKLIN NEW YORK TAX-FREE TRUST Notes to Statements of Investments (unaudited) 1. ORGANIZATION Franklin New York Tax-Free Trust (Trust) is registered under the Investment Company Act of 1940, as amended, as an open-end investment company, consisting of two funds (Funds). 2. SECURITY VALUATION Municipal securities generally trade in the over-the-counter market rather than on a securities exchange. The Funds may utilize independent pricing services, quotations from bond dealers, and information with respect to bond and note transactions, to assist in determining a current market value for each security. The Funds' pricing services use valuation models or matrix pricing, which considers information with respect to comparable bond and note transactions, quotations from bond dealers or by reference to other securities that are considered comparable in such characteristics as rating, interest rate and maturity date, to determine current value. The Funds have procedures to determine the fair value of individual securities and other assets for which market prices are not readily available or which may not be reliably priced. Methods for valuing these securities may include: fundamental analysis, matrix pricing, discounts from market prices of similar securities, or discounts applied due to the nature and duration of restrictions on the disposition of the securities. Due to the inherent uncertainty of valuations of such securities, the fair values may differ significantly from the values that would have been used had a ready market for such investments existed. Occasionally, events occur between the time at which trading in a security is completed and the close of the NYSE that might call into question the availability (including the reliability) of the value of a portfolio security held by the fund. If such an event occurs, the securities may be valued using fair value procedures, which may include the use of independent pricing services. All security valuation procedures are approved by the Funds' Board of Trustees. 3. INCOME TAXES At December 31, 2009, the cost of investments and net unrealized appreciation (depreciation) for income tax purposes were as follows:
FRANKLIN FRANKLIN NEW YORK NEW YORK INTERMEDIATE- INSURED TAX-FREE TERM TAX-FREE INCOME FUND INCOME FUND ---------------- ------------- Cost of investments $500,338,995 $554,450,982 ============ ============ Unrealized appreciation $ 10,916,406 $ 17,129,396 Unrealized depreciation (11,110,174) (1,866,139) ------------ ------------ Net unrealized appreciation (depreciation) $ (193,768) $ 15,263,257 ============ ============
4. FAIR VALUE MEASUREMENTS The Funds follow a fair value hierarchy that distinguishes between market data obtained from independent sources (observable inputs) and the Funds' own market assumptions (unobservable inputs). These inputs are used in determining the value of the Funds' investments and are summarized in the following fair value hierarchy: - Level 1 - quoted prices in active markets for identical securities - Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speed, credit risk, etc.) - Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. At December 31, 2009, all of the Funds' investments in securities carried at fair value were in Level 2 inputs. 5. NEW ACCOUNTING PRONOUNCEMENTS In January 2010, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2010-6, FAIR VALUE MEASUREMENTS AND DISCLOSURES (TOPIC 820): IMPROVING DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS. ASU No. 2010-6 enhances and clarifies existing fair value measurement disclosure requirements and is effective for interim and annual periods beginning after December 15, 2009. The Funds are currently evaluating the impact, if any, of applying the provisions of ASU No. 2010-6. 6. SUBSEQUENT EVENTS The Funds have evaluated subsequent events through February 22, 2010, the issuance date of the financial statements and determined that no events have occurred that require disclosure. For information on the Funds' policy regarding other significant accounting policies, please refer to the Funds' most recent semiannual or annual shareholder report. 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 Laura F. Fergerson, Chief Executive Officer - Finance and Administration, and Gaston Gardey, Chief Financial Officer and Chief Accounting 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/LAURA F. FERGERSON -------------------------- Laura F. Fergerson Chief Executive Officer - Finance and Administration Date February 25, 2010 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/LAURA F. FERGERSON -------------------------- Laura F. Fergerson Chief Executive Officer - Finance and Administration Date February 25, 2010 By /s/GASTON GARDEY ------------------ Gaston Gardey Chief Financial Officer and Chief Accounting Officer Date February 25, 2010 EX-99.CERT 2 fnytft302cert.txt SECTION 302 CERTIFICATION Exhibit 3(a) I, Laura F. Fergerson, 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. 2/25/2010 S\ LAURA F. FERGERSON Laura F. Fergerson Chief Executive Officer - Finance and Administration Exhibit 3(a) I, Gaston Gardey, 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. 2/25/2010 S\ GASTON GARDEY Gaston Gardey Chief Financial Officer and Chief Accounting Officer -----END PRIVACY-ENHANCED MESSAGE-----