N-Q 1 nq.htm NQU Form N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q


QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number         811-06303         

        Nuveen Quality Income Municipal Fund, Inc.         
(Exact name of registrant as specified in charter)


        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)


Jessica R. Droeger—Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)

Registrant's telephone number, including area code:         312-917-7700        

Date of fiscal year end:            10/31          

Date of reporting period:          07/31/05         

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

      Portfolio of Investments (Unaudited)               
      Nuveen Quality Income Municipal Fund, Inc. (NQU)               
      July 31, 2005               
 
 
 
  Principal        Optional Call          Market 
  Amount (000)    Description(1)     Provisions*    Ratings**      Value 
      Alabama - 3.2% (2.1% of Total Investments)               
$   3,500    Bessemer Governmental Utility Services Corporation, Alabama, Water Supply Revenue Bonds, Series    6/08 at 102.00    AAA    $   3,729,215 
      1998, 5.200%, 6/01/24 - MBIA Insured               
      Jefferson County, Alabama, Sewer Revenue Capitol Improvement Warrants, Series 2001A:               
  7,475    5.500%, 2/01/31 (Pre-refunded to 2/01/11) - FGIC Insured    2/11 at 101.00    AAA      8,314,443 
  6,340    5.500%, 2/01/31 (Pre-refunded to 2/01/11) - FGIC Insured    2/11 at 101.00    AAA      7,001,579 
  6,970    5.500%, 2/01/31 (Pre-refunded to 2/01/11) - FGIC Insured    2/11 at 101.00    AAA      7,752,731 
      Alaska - 1.5% (1.0% of Total Investments)               
  6,360    Alaska Housing Finance Corporation, Governmental Purpose Bonds, Series 1995A, 5.875%, 12/01/30 -    12/05 at 102.00    AAA      6,539,479 
      MBIA Insured               
  6,110    Alaska Housing Finance Corporation, General Housing Purpose Bonds, Series 2005A, 5.000%,    12/14 at 100.00    AAA      6,414,156 
      12/01/27 - FGIC Insured               
      Arizona - 1.8% (1.2% of Total Investments)               
  5,350    Arizona Tourism and Sports Authority, Tax Revenue Bonds, Multipurpose Stadium Facility Project,    7/13 at 100.00    Aaa      5,630,179 
      Series 2003A, 5.000%, 7/01/28 - MBIA Insured               
  1,000    Mesa, Arizona, Utility System Revenue Refunding Bonds, Series 2002, 5.250%, 7/01/17 - FGIC Insured    No Opt. Call    AAA      1,128,220 
  8,010    Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue    1/12 at 101.00    AA      8,492,683 
      Refunding Bonds, Series 2002A, 5.125%, 1/01/27               
      Arkansas - 0.5% (0.3% of Total Investments)               
  4,000    University of Arkansas, Fayetteville, Revenue Bonds, Medical Sciences Campus, Series 2004B,    11/14 at 100.00    Aaa      4,225,760 
      5.000%, 11/01/34 - MBIA Insured               
      California - 6.3% (4.2% of Total Investments)               
  6,000    California Health Facilities Financing Authority, Health Facility Revenue Bonds, Adventist Health    3/13 at 100.00    A      6,081,000 
      System/West, Series 2003A, 5.000%, 3/01/33               
  3,450    California Infrastructure Economic Development Bank, Revenue Bonds, J. David Gladstone Institutes,    10/11 at 101.00    A-      3,559,710 
      Series 2001, 5.250%, 10/01/34               
  5,000    California, General Obligation Veterans Welfare Bonds, Series 1997BH, 5.600%, 12/01/32    12/05 at 100.00    AA-      5,043,300 
      (Alternative Minimum Tax)               
  10,000    California, Various Purpose General Obligation Bonds, Series 1999, 4.750%, 4/01/29 - MBIA Insured    4/09 at 101.00    AAA      10,126,800 
  14,600    California, General Obligation Bonds, Series 2003, 5.250%, 2/01/28    8/13 at 100.00    A      15,539,218 
  1,000    California Department of Water Resources, Power Supply Revenue Bonds, Series 2002A, 5.750%,    5/12 at 101.00    A2      1,111,230 
      5/01/17               
  1,360    California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health    7/15 at 100.00    BBB+      1,430,842 
      System, Series 2005A, 5.250%, 7/01/30               
  8,500    Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series 1995A,    1/10 at 100.00    AAA      8,855,470 
      5.000%, 1/01/35 - MBIA Insured               
  1,500    San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project,    8/10 at 101.00    AAA      1,550,955 
      Series 2002, 5.000%, 8/01/32 - MBIA Insured               
      Colorado - 5.5% (3.6% of Total Investments)              
 
    5,240    Adams 12 Five Star Schools, Adams County, Colorado, General Obligation Bonds, Series 2005, 5.000%,   12/15 at 100.00    AAA    $   5,609,944 
      12/15/24 - FSA Insured              
 
  10,000    Denver City and County, Colorado, Airport System Revenue Refunding Bonds, Series 2000A, 5.625%,   11/10 at 100.00    AAA      10,795,000 
      11/15/23 (Alternative Minimum Tax)- AMBAC Insured              
 
  12,000    E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997A, 4.750%, 9/01/23 -   9/07 at 101.00    AAA      12,228,000 
      MBIA Insured              
 
  14,400    E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%, 9/01/17   9/10 at 65.63    AAA      7,879,968 
      (Pre-refunded to 9/01/10) - MBIA Insured              
 
  8,740    Larimer County School District R1, Poudre, Colorado, General Obligation Bonds, Series 2000,   12/10 at 100.00    AAA      9,531,931 
      5.125%, 12/15/19 (Pre-refunded to 12/15/10) - FGIC Insured              
 
      Connecticut - 0.6% (0.4% of Total Investments)              
 
  4,395    Bridgeport, Connecticut, General Obligation Bonds, Series 2001C, 5.375%, 8/15/17 (Pre-refunded to   8/11 at 100.00    AAA      4,822,809 
      8/15/11) - FGIC Insured              
 
      District of Columbia - 0.6% (0.4% of Total Investments)              
 
  5,000    Washington Convention Center Authority, District of Columbia, Senior Lien Dedicated Tax Revenue   10/08 at 101.00    AAA      5,329,200 
      Bonds, Series 1998, 5.250%, 10/01/17 - AMBAC Insured              
 
      Florida - 1.9% (1.3% of Total Investments)              
 
  2,250    Dade County, Florida, Water and Sewerage System Revenue Bonds, Series 1997, 5.375%, 10/01/16 -   10/07 at 102.00    AAA      2,402,753 
      FGIC Insured              
 
  5,300    Escambia County Health Facilities Authority, Florida, Revenue Bonds, Ascension Health Credit Group,   No Opt. Call    AA      5,826,979 
      Series 2003A, 5.250%, 11/15/14              
 
  2,500    Florida State Board of Education, Full Faith and Credit Public Education Capital Outlay Bonds,   6/06 at 101.00    AAA      2,577,625 
      Series 1996A, 5.250%, 6/01/22 (Pre-refunded to 6/01/06)              
 
  5,000    Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist Health   11/10 at 101.00    A      5,497,100 
      System/Sunbelt Obligated Group, Series 2000, 6.500%, 11/15/30              
 
      Hawaii - 1.3% (0.9% of Total Investments)              
 
  10,000    Hawaii Department of Transportation, Airport System Revenue Refunding Bonds, Series 2000B, 5.750%,   7/10 at 101.00    AAA      11,021,700 
      7/01/21 - FGIC Insured              
 
      Illinois - 14.1% (9.3% of Total Investments)              
 
  32,670    Chicago, Illinois, General Obligation Bonds, City Colleges of Chicago Capital Improvement Project,   No Opt. Call    AAA      9,305,396 
      Series 1999, 0.000%, 1/01/32 - FGIC Insured              
 
  5,045    Chicago, Illinois, General Obligation Refunding Bonds, Series 2000D, 5.750%, 1/01/30 - FGIC   1/10 at 101.00    AAA      5,538,552 
      Insured              
 
      Chicago, Illinois, General Obligation Bonds, Neighborhoods Alive 21 Program, Series 2000A:              
  680    6.000%, 1/01/28 (Pre-refunded to 7/01/10) - FGIC Insured   7/10 at 101.00    AAA      768,386 
  4,320    6.000%, 1/01/28 - FGIC Insured   7/10 at 101.00    AAA      4,830,322 
 
      Chicago, Illinois, General Obligation Refunding Bonds, Series 2002A:              
  70    5.000%, 1/01/18 (Pre-refunded to 7/01/12) - AMBAC Insured   7/12 at 100.00    AAA      76,246 
  6,380    5.000%, 1/01/18 - AMBAC Insured   7/12 at 100.00    AAA      6,790,808 
 
      Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Revenues,              
      Series 2001C:              
  1,000    5.500%, 12/01/18 (Pre-refunded to 12/01/11) - FSA Insured   12/11 at 100.00    AAA      1,115,290 
  3,690    5.000%, 12/01/19 (Pre-refunded to 12/01/11) - FSA Insured   12/11 at 100.00    AAA      4,011,251 
  3,000    5.000%, 12/01/20 (Pre-refunded to 12/01/11) - FSA Insured   12/11 at 100.00    AAA      3,261,180 
  2,000    5.000%, 12/01/21 (Pre-refunded to 12/01/11) - FSA Insured   12/11 at 100.00    AAA      2,174,120 
 
      Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax              
      Revenues, Series 1998B-1:              
    9,400    0.000%, 12/01/14 - FGIC Insured    No Opt. Call    AAA        6,389,368 
  4,400    0.000%, 12/01/15 - FGIC Insured    No Opt. Call    AAA      2,842,796 
 
  12,750    Chicago, Illinois, Revenue Bonds, Midway Airport, Series 1998A, 5.125%, 1/01/35 (Alternative    1/09 at 101.00    AAA      13,093,995 
      Minimum Tax) - MBIA Insured               
 
      Chicago, Illinois, Second Lien Wastewater Transmission Revenue Bonds, Series 2000:               
  8,000    5.750%, 1/01/25 (Pre-refunded to 1/01/10) - MBIA Insured    1/10 at 101.00    AAA      8,885,040 
  7,750    6.000%, 1/01/30 (Pre-refunded to 1/01/10) - MBIA Insured    1/10 at 101.00    AAA      8,686,587 
 
  5,000    Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Hospital, Series 2004A, 5.500%,    8/14 at 100.00    AA+      5,392,300 
      8/15/43               
 
  1,050    Illinois Finance Authority, General Obligation Debt Certificates, Local Government Program -    12/14 at 100.00    Aaa      1,121,390 
      Kankakee County, Series 2005B, 5.000%, 12/01/20 - AMBAC Insured               
 
  10,000    Illinois Health Facilities Authority, Revenue Bonds, Iowa Health System, Series 2000, 5.875%,    2/10 at 101.00    AAA      11,066,700 
      2/15/30 - AMBAC Insured               
 
  2,470    Illinois Housing Development Authority, Section 8 Elderly Housing Revenue Bonds, Garden House of    9/05 at 100.00    A      2,473,038 
      Maywood Development, Series 1992, 7.000%, 9/01/18               
 
      Illinois Educational Facilities Authority, Student Housing Revenue Bonds, Educational Advancement               
      Foundation Fund, University Center Project, Series 2002:               
  3,000    6.625%, 5/01/17    5/12 at 101.00    Baa2      3,365,940 
  1,800    6.000%, 5/01/22    5/12 at 101.00    Baa2      1,935,738 
 
  5,000    Illinois, General Obligation Bonds, Illinois FIRST Program, Series 2000, 5.450%, 12/01/21 - MBIA    12/10 at 100.00    AAA      5,436,300 
      Insured               
 
  3,165    Joliet Regional Port District, Illinois, Airport Facilities Revenue Bonds, Lewis University    7/07 at 103.00    N/R      3,322,902 
      Airport, Series 1997A, 7.250%, 7/01/18 (Alternative Minimum Tax)               
 
  4,500    Kane, McHenry, Cook and DeKalb Counties Community Unit School District 300, Carpentersville,    12/11 at 100.00    AAA      4,968,450 
      Illinois, General Obligation Bonds, Series 2000, 5.500%, 12/01/18 - MBIA Insured               
 
  2,270    Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion    6/12 at 101.00    AAA      2,372,808 
      Project, Series 2002A, 5.000%, 12/15/28 - MBIA Insured               
 
      Indiana - 2.3% (1.5% of Total Investments)               
 
  3,240    Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Marion General Hospital,    7/12 at 100.00    AAA      3,549,355 
      Series 2002, 5.625%, 7/01/19 - AMBAC Insured               
 
  2,000    Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Deaconess Hospital Inc.,    3/14 at 100.00    AAA      2,154,160 
      Series 2004A, 5.375%, 3/01/34 - AMBAC Insured               
 
  2,400    Indiana Health Facility Financing Authority, Revenue Bonds, Community Hospitals of Indiana, Series    5/15 at 100.00    AAA      2,518,896 
      2005A, 5.000%, 5/01/35 - AMBAC Insured               
 
  5,125    Petersburg, Indiana, Pollution Control Revenue Refunding Bonds, Indianapolis Power and Light    No Opt. Call    A      5,240,005 
      Company, Series 1995A, 6.625%, 12/01/24 - ACA Insured               
 
  5,980    St. Joseph County Hospital Authority, Indiana, Revenue Bonds, Memorial Health System, Series 1998A,    2/08 at 101.00    AAA      6,002,963 
      4.625%, 8/15/28 - MBIA Insured               
 
      Iowa - 1.1% (0.7% of Total Investments)               
 
  8,585    Iowa Finance Authority, Hospital Facilities Revenue Bonds, Iowa Health System, Series 1998A,    7/08 at 102.00    AAA      9,240,121 
      5.125%, 1/01/28 (Pre-refunded to 7/01/08) - MBIA Insured               
 
      Kansas - 0.8% (0.5% of Total Investments)               
 
  4,585    Johnson County Unified School District 232, Kansas, General Obligation Bonds, Series 2000, 4.750%,    9/10 at 100.00    Aaa      4,783,622 
      9/01/19 - FSA Insured               
 
  1,750    Wamego, Kansas, Pollution Control Revenue Bonds, Kansas Gas and Electric Company, Series 2004,    6/14 at 100.00    AAA      1,896,055 
      5.300%, 6/01/31 - MBIA Insured               
 
      Kentucky - 0.3% (0.2% of Total Investments)               
 
  2,500    Kentucky State Property and Buildings Commission, Revenue Refunding Bonds, Project 74, Series 2002,    2/12 at 100.00    AAA      2,769,375 
      5.375%, 2/01/18 (Pre-refunded to 2/01/12) - FSA Insured               
      Louisiana - 2.1% (1.4% of Total Investments)            
 
    10,000    Louisiana Public Facilities Authority, Hospital Revenue Bonds, Franciscan Missionaries of Our Lady   No Opt. Call    AAA       11,815,400 
      Health System, Series 1998A, 5.750%, 7/01/25 - FSA Insured            
 
  5,500    Louisiana Public Facilities Authority, Revenue Bonds, Tulane University, Series 2002A, 5.000%,   7/12 at 100.00    AAA     5,719,835 
      7/01/32 - AMBAC Insured            
 
      Massachusetts - 8.6% (5.7% of Total Investments)            
 
  7,405    Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Massachusetts Institute   No Opt. Call    AAA     8,941,389 
      of Technology, Series 2002K, 5.500%, 7/01/32            
 
  4,365    Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Berkshire Health System,   10/15 at 100.00    AAA     4,643,967 
      Series 2005F, 5.000%, 10/01/19 - AGC Insured            
 
  6,000    Massachusetts Industrial Finance Agency, Resource Recovery Revenue Refunding Bonds, Ogden Haverhill   12/08 at 102.00    BBB     6,166,140 
      Project, Series 1998A, 5.600%, 12/01/19 (Alternative Minimum Tax)            
 
  13,500    Massachusetts Turnpike Authority, Metropolitan Highway System Revenue Bonds, Senior Series 1997A,   1/07 at 102.00    AAA     13,859,505 
      5.000%, 1/01/37 - MBIA Insured            
 
  13,500    Massachusetts Turnpike Authority, Metropolitan Highway System Revenue Bonds, Subordinate Series   1/09 at 101.00    AAA     13,857,345 
      1999A, 5.000%, 1/01/39 - AMBAC Insured            
 
      Massachusetts Water Pollution Abatement Trust, Revenue Bonds, MWRA Loan Program, Subordinate Series            
      1999A:            
  1,375    5.750%, 8/01/29 (Pre-refunded to 8/01/09)   8/09 at 101.00    AAA     1,514,563 
  5,570    5.750%, 8/01/29   8/09 at 101.00    AAA     6,094,026 
 
  10,000    Massachusetts Water Resources Authority, General Revenue Bonds, Series 2000A, 5.750%, 8/01/39   8/10 at 101.00    AAA     11,163,600 
      (Pre-refunded to 8/01/10) - FGIC Insured            
 
  5,730    University of Massachusetts Building Authority, Senior Lien Project Revenue Bonds, Series 2000-2,   11/10 at 100.00    AAA     6,271,141 
      5.250%, 11/01/20 (Pre-refunded to 11/01/10) - AMBAC Insured            
 
      Michigan - 2.2% (1.4% of Total Investments)            
 
  5,000    Detroit, Michigan, Second Lien Sewerage Disposal System Revenue Bonds, Series 2005A, 5.000%,   7/15 at 100.00    AAA     5,273,900 
      7/01/35 - MBIA Insured            
 
  1,000    Detroit, Michigan, Senior Lien Water Supply System Revenue Bonds, Series 2001A, 5.750%, 7/01/28   7/11 at 101.00    AAA     1,131,240 
      (Pre-refunded to 7/01/11) - FGIC Insured            
 
  3,790    Michigan Municipal Bond Authority, General Obligation Bonds, Detroit City School District, Series   6/15 at 100.00    AAA     4,030,513 
      2005, 5.000%, 6/01/20 - FSA Insured            
 
  7,425    Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Henry Ford Health System, Series   11/09 at 101.00    A1     7,932,796 
      1999A, 6.000%, 11/15/24            
 
      Minnesota - 1.6% (1.1% of Total Investments)            
 
      Chaska, Minnesota, Electric Revenue Bonds, Generating Facility Project, Series 2000A:            
  1,930    6.000%, 10/01/20 (Pre-refunded to 10/01/10)   10/10 at 100.00    A3***     2,173,373 
  2,685    6.000%, 10/01/25 (Pre-refunded to 10/01/10)   10/10 at 100.00    A3***     3,023,579 
 
  3,655    Dakota and Washington Counties Housing and Redevelopment Authority, Minnesota, GNMA Mortgage-Backed   No Opt. Call    AAA     5,314,772 
      Securities Program Single Family Residential Mortgage Revenue Bonds, Series 1988, 8.450%, 9/01/19            
      (Alternative Minimum Tax)            
 
  3,000    Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Series   1/08 at 101.00    AAA     3,075,120 
      1998A, 5.000%, 1/01/30 - AMBAC Insured            
 
      Mississippi - 0.5% (0.4% of Total Investments)            
 
  2,500    Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Forrest County General   1/11 at 101.00    Aaa     2,678,525 
      Hospital, Series 2000, 5.500%, 1/01/27 - FSA Insured            
 
  1,875    Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Baptist Memorial   9/14 at 100.00    N/R     1,933,631 
      Healthcare, Series 2004B-1, 5.000%, 9/01/24            
      Missouri - 0.8% (0.5% of Total Investments)              
    2,400    Missouri-Illinois Metropolitan District Bi-State Development Agency, Mass Transit Sales Tax   10/13 at 100.00    AAA        2,554,224 
      Appropriation Bonds, Metrolink Cross County Extension Project, Series 2002B, 5.000%, 10/01/23 -              
      FSA Insured              
  15,350    Springfield Public Building Corporation, Missouri, Lease Revenue Bonds, Jordan Valley Park   No Opt. Call    AAA      4,334,687 
      Projects, Series 2000A, 0.000%, 6/01/30 - AMBAC Insured              
      Nebraska - 0.3% (0.2% of Total Investments)              
  1,395    Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 1995A, 6.800%,   9/05 at 101.50    AAA      1,399,046 
      3/01/35 (Alternative Minimum Tax)              
  1,425    Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 1995B, 6.450%,   9/05 at 101.50    AAA      1,447,772 
      3/01/35 (Alternative Minimum Tax)              
      Nevada - 7.4% (4.8% of Total Investments)              
      Clark County School District, Nevada, General Obligation Bonds, Series 2002C:              
  34,470    5.000%, 6/15/20 - MBIA Insured   6/12 at 100.00    AAA      36,790,176 
  12,150    5.000%, 6/15/21 - MBIA Insured   6/12 at 100.00    AAA      12,919,581 
  10,380    5.000%, 6/15/22 - MBIA Insured   6/12 at 100.00    AAA      11,001,451 
  1,275    Nevada, General Obligation Refunding Bonds, Municipal Bond Bank Projects 65 and R-6, Series 1998,   5/08 at 100.00    AAA      1,323,017 
      5.000%, 5/15/22 - MBIA Insured              
      New Jersey - 2.3% (1.6% of Total Investments)              
  2,580    Camden County Pollution Control Financing Authority, New Jersey, Solid Waste Disposal and Resource   12/05 at 100.00    Baa3      2,593,545 
      Recovery System Revenue Bonds, Series 1991D, 7.250%, 12/01/10              
  1,000    New Jersey Building Authority, State Building Revenue Bonds, Series 2002A, 5.000%, 12/15/21   12/12 at 100.00    AAA      1,096,000 
      (Pre-refunded to 12/15/12) - FSA Insured              
  2,150    New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Trinitas Hospital Obligated   7/10 at 101.00    BBB-      2,423,244 
      Group, Series 2000, 7.500%, 7/01/30              
  3,200    New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2003C, 5.500%,   6/13 at 100.00    AAA      3,625,184 
      6/15/22 (Pre-refunded to 6/15/13)              
  2,025    New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2001B, 6.000%,   12/11 at 100.00    AAA      2,323,141 
      12/15/19 (Pre-refunded to 12/15/11) - MBIA Insured              
  2,720    Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series   6/12 at 100.00    BBB      2,871,368 
      2002, 5.750%, 6/01/32              
  4,125    Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series   6/13 at 100.00    BBB      4,875,173 
      2003, 6.750%, 6/01/39              
      New Mexico - 0.8% (0.5% of Total Investments)              
  5,925    New Mexico Hospital Equipment Loan Council, Hospital Revenue Bonds, Presbyterian Healthcare   8/11 at 101.00    AA-      6,348,578 
      Services, Series 2001A, 5.500%, 8/01/21              
      New York - 20.1% (13.2% of Total Investments)              
  25,000    Erie County Tobacco Asset Securitization Corporation, New York, Senior Tobacco Settlement   7/10 at 101.00    BBB***      26,490,750 
      Asset-Backed Bonds, Series 2000, 6.125%, 7/15/30 (Pre-refunded to 7/15/10)              
  1,130    Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2001A,   9/11 at 100.00    A-      1,222,321 
      5.375%, 9/01/25              
  15,000    Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 2000A, 6.000%,   4/10 at 100.00    AAA      16,846,500 
      4/01/30 (Pre-refunded to 4/01/10) - FGIC Insured              
  12,500    Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds,   7/09 at 101.00    BBB-      13,277,500 
      Series 1999A, 6.400%, 7/15/33              
      New York City, New York, General Obligation Bonds, Fiscal Series 2002G:              
  950    5.000%, 8/01/17   8/12 at 100.00    A+      999,533 
  10,545    5.750%, 8/01/18   8/12 at 100.00    A+      11,741,014 
    5,000    New York City, New York, General Obligation Bonds, Fiscal Series 2003A, 5.750%, 8/01/16   8/12 at 100.00    A+        5,567,100 
 
      New York City, New York, General Obligation Bonds, Fiscal Series 1997H:              
  905    6.125%, 8/01/25 (Pre-refunded to 8/01/07)   8/07 at 101.00    A+***      971,445 
  5,095    6.125%, 8/01/25   8/07 at 101.00    A+      5,431,627 
 
      New York City, New York, General Obligation Bonds, Fiscal Series 1997M:              
  7,200    5.500%, 6/01/17 (Pre-refunded to 6/01/07) - AMBAC Insured   6/07 at 101.00    AAA      7,613,136 
  7,600    5.500%, 6/01/17 - AMBAC Insured   6/07 at 101.00    AAA      8,015,568 
 
      New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series              
      2000B:              
  8,035    5.750%, 11/15/19 (Pre-refunded to 5/15/10)   5/10 at 101.00    AAA      9,019,368 
  2,065    5.750%, 11/15/19 (Pre-refunded to 5/15/10)   5/10 at 101.00    AAA      2,317,983 
 
  2,250    Dormitory Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of   No Opt. Call    AAA      2,497,388 
      Medicine, Series 1994A, 5.150%, 7/01/24 - MBIA Insured              
 
  2,500    Dormitory Authority of the State of New York, Insured Revenue Bonds, Fordham University, Series   7/08 at 101.00    AAA      2,629,400 
      1998, 5.000%, 7/01/28 - MBIA Insured              
 
      Dormitory Authority of the State of New York, Improvement Revenue Bonds, Mental Health Services              
      Facilities, Series 1997A:              
  4,825    5.750%, 2/15/27 (Pre-refunded to 2/15/07)   2/07 at 102.00    AA-***      5,129,554 
  115    5.750%, 2/15/27 (Pre-refunded to 2/15/07)   2/07 at 102.00    AA-***      122,259 
  60    5.750%, 2/15/28   2/07 at 102.00    AA-      63,406 
 
      Dormitory Authority of the State of New York, Improvement Revenue Bonds, Mental Health Services              
      Facilities, Series 2000B:              
  8,830    6.000%, 2/15/30 (Pre-refunded to 2/15/10) - MBIA Insured   2/10 at 100.00    AAA      9,867,790 
  165    6.000%, 2/15/30 - MBIA Insured   2/10 at 100.00    AAA      182,190 
  1,005    6.000%, 2/15/30 (Pre-refunded to 2/15/10) - MBIA Insured   2/10 at 100.00    AAA      1,125,831 
 
  1,900    Dormitory Authority of the State of New York, Revenue Bonds, Mount Sinai NYU Health Obligated   7/10 at 101.00    Ba1      2,018,161 
      Group, Series 2000A, 6.500%, 7/01/25              
 
      New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving              
      Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects, Second Resolution              
      Bonds, Series 2001C:              
  6,035    5.000%, 6/15/20   6/11 at 100.00    AAA      6,432,646 
  6,575    5.000%, 6/15/22   6/11 at 100.00    AAA      7,007,898 
 
    3,090    New York State Medical Care Facilities Finance Agency, FHA-Insured Mortgage Revenue Bonds,              
    St. Charles Hospital, Series 1995F: 6.200%, 8/15/15 (Pre-refunded to 8/15/05)   8/05 at 102.00    AA***      3,156,821 
 
  2,895    Penfield-Crown Oak Housing Development Corporation, New York, FHA-Insured Section 8 Assisted   8/05 at 100.00    AAA      2,944,476 
      Multifamily Mortgage Revenue Refunding Bonds, Crown Oak Estates, Series 1991A, 7.350%, 8/01/23              
 
  13,620    Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Twenty-Eighth   11/12 at 101.00    AAA      14,601,185 
      Series 2002, 5.000%, 11/01/20 - FSA Insured              
 
  2,250    United Nations Development Corporation, New York, Senior Lien Revenue Bonds, Series 2004A, 5.250%,   1/08 at 100.00    A3      2,331,878 
      7/01/21              
 
      North Carolina - 2.5% (1.7% of Total Investments)              
 
  7,500    North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2003A, 5.250%,   1/13 at 100.00    AAA      8,166,975 
      1/01/19 - MBIA Insured              
 
  13,070    North Carolina Medical Care Commission, Hospital Revenue Bonds, Pitt County Memorial Hospital,   12/08 at 101.00    AAA      13,253,764 
      Series 1998A, 4.750%, 12/01/28 - MBIA Insured              
 
      Ohio - 2.3% (1.5% of Total Investments)              
 
      Cincinnati City School District, Hamilton County, Ohio, General Obligation Bonds, Series 2002:              
  2,165    5.250%, 6/01/19 - FSA Insured   12/12 at 100.00    AAA      2,378,101 
  2,600    5.250%, 6/01/21 - FSA Insured   12/12 at 100.00    AAA      2,835,872 
  2,000    5.000%, 12/01/22 - FSA Insured   12/12 at 100.00    AAA      2,121,960 
 
  11,550    Ohio Water Development Authority, Solid Waste Disposal Revenue Bonds, Bay Shore Power, Series   9/08 at 102.00    N/R      11,679,129 
      1998A, 5.875%, 9/01/20 (Alternative Minimum Tax)              
      Oklahoma - 6.5% (4.3% of Total Investments)              
    17,510    Pottawatomie County Home Finance Authority, Oklahoma, Single Family Mortgage Revenue Bonds, Series   No Opt. Call    AAA        21,596,134 
      1991A, 8.625%, 7/01/10              
  11,750    Tulsa Municipal Airport Trust, Oklahoma, Revenue Refunding Bonds, American Airlines Inc., Series   6/09 at 100.00    B-      11,448,260 
      2000B, 6.000%, 6/01/35 (Alternative Minimum Tax) (Mandatory put 12/01/08)              
  23,005    Tulsa Municipal Airport Trust, Oklahoma, Revenue Refunding Bonds, American Airlines Inc., Series   12/08 at 100.00    B-      22,204,196 
      2001B, 5.650%, 12/01/35 (Alternative Minimum Tax) (Mandatory put 12/01/08)              
      Oregon - 0.4% (0.3% of Total Investments)              
  3,000    Deschutes County School District 1, Bend-La Pine, Oregon, General Obligation Bonds, Series 2001A,   6/11 at 100.00    Aaa      3,324,360 
      5.500%, 6/15/18 (Pre-refunded to 6/15/11) - FSA Insured              
      Pennsylvania - 4.8% (3.1% of Total Investments)              
  5,505    Carbon County Industrial Development Authority, Pennsylvania, Resource Recovery Revenue Refunding   No Opt. Call    BBB-      5,978,705 
      Bonds, Panther Creek Partners Project, Series 2000, 6.650%, 5/01/10 (Alternative Minimum Tax)              
  2,470    Falls Township Hospital Authority, Pennsylvania, FHA-Insured Revenue Refunding Bonds, Delaware   8/05 at 100.00    AAA      2,527,502 
      Valley Medical Center, Series 1992, 7.000%, 8/01/22              
  7,000    Pennsylvania, General Obligation Bonds, Second Series 2001, 5.000%, 9/15/15 (Pre-refunded to   9/11 at 101.00    AA***      7,658,490 
      9/15/11)              
  2,600    Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2004A, 5.500%, 12/01/31 - AMBAC   12/14 at 100.00    AAA      2,902,354 
      Insured              
  7,800    Philadelphia Gas Works, Pennsylvania, Revenue Bonds, General Ordinance, Fourth Series 1998,   8/13 at 100.00    AAA      8,153,028 
      5.000%, 8/01/32 - FSA Insured              
      Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2002B:              
  6,000    5.625%, 8/01/19 (Pre-refunded to 8/01/12) - FGIC Insured   8/12 at 100.00    AAA      6,774,960 
  5,500    5.625%, 8/01/20 (Pre-refunded to 8/01/12) - FGIC Insured   8/12 at 100.00    AAA      6,210,380 
      Puerto Rico - 1.5% (1.0% of Total Investments)              
  4,065    Puerto Rico, The Children's Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series   5/12 at 100.00    BBB      4,202,397 
      2002, 5.375%, 5/15/33              
  1,500    Puerto Rico, General Obligation and Public Improvement Bonds, Series 2001A, 5.500%, 7/01/29   No Opt. Call    BBB      1,721,925 
  1,500    Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Refunding Bonds,   7/12 at 100.00    BBB      1,581,630 
      Series 2002D, 5.125%, 7/01/20              
  5,000    Puerto Rico Municipal Finance Agency, Series 2002A, 5.000%, 8/01/27 - FSA Insured   8/12 at 100.00    AAA      5,273,150 
      South Carolina - 8.8% (5.8% of Total Investments)              
  24,725    Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series 2002,   12/12 at 101.00    AA-      26,917,613 
      5.500%, 12/01/22              
      Horry County School District, South Carolina, General Obligation Bonds, Series 2001A:              
  5,840    5.000%, 3/01/20   3/12 at 100.00    Aa1      6,223,863 
  5,140    5.000%, 3/01/21   3/12 at 100.00    Aa1      5,461,250 
      Medical University Hospital Authority, South Carolina, FHA-Insured Mortgage Revenue Bonds, Series              
      2004A:              
  5,240    5.250%, 8/15/20 - MBIA Insured   8/14 at 100.00    AAA      5,687,339 
  3,000    5.250%, 2/15/24 - MBIA Insured   8/14 at 100.00    AAA      3,237,300 
  13,615    South Carolina Transportation Infrastructure Bank, Junior Lien Revenue Bonds, Series 2001B,   10/11 at 100.00    Aaa      14,598,548 
      5.125%, 10/01/21 - AMBAC Insured              
  11,000    Tobacco Settlement Revenue Management Authority, South Carolina, Tobacco Settlement Asset-Backed   5/11 at 101.00    BBB      11,831,490 
      Bonds, Series 2001B, 6.375%, 5/15/28              
      Tennessee - 2.0% (1.3% of Total Investments)              
  3,000    Knox County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue Bonds,   4/12 at 101.00    Baa3      3,192,900 
      Baptist Health System of East Tennessee Inc., Series 2002, 6.375%, 4/15/22               
    7,415    Memphis, Tennessee, General Improvement Bonds, Series 2002, 5.000%, 11/01/20    11/10 at 101.00    AA        7,920,925 
  5,380    Tennessee Housing Development Agency, Homeownership Program Bonds, Series 2000-2B, 6.350%, 1/01/31    7/10 at 100.00    AA      5,472,159 
      (Alternative Minimum Tax)               
      Texas - 18.1% (12.0% of Total Investments)               
  1,000    Alamo Community College District, Bexar County, Texas, Combined Fee Revenue Refunding Bonds, Series    11/11 at 100.00    AAA      1,096,520 
      2001, 5.375%, 11/01/16 - FSA Insured               
  6,500    Bell County Health Facilities Development Corporation, Texas, Retirement Facility Revenue Bonds,    11/08 at 101.00    A-      6,674,460 
      Buckner Retirement Services Inc. Obligated Group, Series 1998, 5.250%, 11/15/19               
  11,255    Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric Company,    No Opt. Call    Baa2      12,034,071 
      Series 2001C, 5.750%, 5/01/36 (Alternative Minimum Tax) (Mandatory put 11/01/11) (a)               
  5,500    Central Texas Regional Mobility Authority, Travis and Williamson Counties, Toll Road Revenue Bonds,    1/15 at 100.00    AAA      5,677,100 
      Series 2005, 5.000%, 1/01/45 - FGIC Insured               
  5,000    Dallas-Ft. Worth International Airport, Texas, Joint Revenue Refunding and Improvement Bonds,    11/11 at 100.00    AAA      5,455,500 
      Series 2001A, 5.625%, 11/01/21 (Alternative Minimum Tax) - FGIC Insured               
  8,235    Grand Prairie Housing Finance Corporation, Texas, GNMA Multifamily Housing Revenue Bonds, Landings    9/10 at 105.00    AAA      9,075,711 
      of Carrier Project, Series 2000A, 6.875%, 9/20/42               
  2,700    Harris County-Houston Sports Authority, Texas, Senior Lien Revenue Bonds, Series 2001G, 5.250%,    11/11 at 100.00    AAA      2,846,043 
      11/15/30 - MBIA Insured               
  2,500    Harris County Health Facilities Development Corporation, Texas, Thermal Utility Revenue Bonds, TECO    11/13 at 100.00    AAA      2,606,675 
      Project, Series 2003, 5.000%, 11/15/30 - MBIA Insured               
  22,500    Houston, Texas, Junior Lien Water and Sewerage System Revenue Refunding Bonds, Series 2000B,    12/10 at 100.00    AAA      24,651,450 
      5.250%, 12/01/30 (Pre-refunded to 12/01/10) - FGIC Insured               
      Lubbock Health Facilities Development Corporation, Texas, Revenue Bonds, St. Joseph Health System,               
      Series 1998:               
  4,900    5.250%, 7/01/15    7/08 at 101.00    AA-      5,143,383 
  8,495    5.250%, 7/01/16    7/08 at 101.00    AA-      8,904,884 
  17,655    Matagorda County Navigation District 1, Texas, Revenue Refunding Bonds, Houston Industries Inc.,    11/08 at 102.00    AAA      18,565,468 
      Series 1998B, 5.150%, 11/01/29 - MBIA Insured               
  7,650    Port of Corpus Christi Authority, Nueces County, Texas, Revenue Refunding Bonds, Union Pacific    5/06 at 101.00    BBB      7,790,225 
      Corporation, Series 1992, 5.350%, 11/01/10               
  2,095    Port of Houston Authority, Harris County, Texas, General Obligation Port Improvement Revenue Bonds,    10/10 at 100.00    AA+      2,303,641 
      Series 2000A, 5.750%, 10/01/20               
  2,000    Sam Rayburn Municipal Power Agency, Texas, Power Supply System Revenue Refunding Bonds, Series    10/12 at 100.00    AA      2,217,560 
      2002A, 5.750%, 10/01/21 - RAAI Insured               
  11,300    San Antonio, Texas, Electric and Gas System Revenue Refunding Bonds, New Series 1992, 5.000%,    No Opt. Call    AAA      12,304,457 
      2/01/17               
  14,680    San Antonio Independent School District, Bexar County, Texas, General Obligation Bonds, Series    8/09 at 100.00    AAA      16,135,082 
      1999, 5.800%, 8/15/29 (Pre-refunded to 8/15/09)               
  3,750    Spring Branch Independent School District, Harris County, Texas, Limited Tax Schoolhouse and    2/11 at 100.00    AAA      3,985,163 
      Refunding Bonds, Series 2001, 5.125%, 2/01/23               
  5,000    Wichita Falls, Wichita County, Texas, Priority Lien Water and Sewerage System Revenue Bonds, Series    8/11 at 100.00    AAA      5,269,750 
      2001, 5.000%, 8/01/22 - AMBAC Insured               
      Utah - 1.6% (1.1% of Total Investments)               
  5,800    Carbon County, Utah, Solid Waste Disposal Revenue Refunding Bonds, Laidlaw/ECDC Project, Guaranteed    8/05 at 102.00    BB-      5,945,580 
      by Allied Waste Industries, Series 1995, 7.500%, 2/01/10 (Alternative Minimum Tax)               
  7,155    Utah Associated Municipal Power Systems, Revenue Bonds, Payson Power Project, Series 2003A,    4/13 at 100.00    AAA      7,569,990 
      5.000%, 4/01/25 - FSA Insured               
      Virginia - 2.1% (1.4% of Total Investments)            
    4,000    Norfolk Airport Authority, Virginia, Airport Revenue Refunding Bonds, Series 2001B, 5.125%,   7/11 at 100.00    AAA        4,135,720
      7/01/31 (Alternative Minimum Tax)- FGIC Insured            
  11,040    Suffolk Redevelopment and Housing Authority, Virginia, FNMA Multifamily Housing Revenue Refunding   No Opt. Call    Aaa      11,706,374
      Bonds, Windsor at Potomac Vista L.P. Project, Series 2001,4.850%, 7/01/31 (Mandatory put 7/01/11)            
  665    Virginia Housing Development Authority, Rental Housing Bonds, Series 1999F, 5.000%, 5/01/15   5/09 at 101.00    AA+      686,493
      (Alternative Minimum Tax)            
      Virginia Resources Authority, Water System Revenue Refunding Bonds, Series 2002:            
  500    5.000%, 4/01/18   4/12 at 102.00    AA      538,665
  500    5.000%, 4/01/19   4/12 at 102.00    AA      537,135
      Washington - 10.9% (7.2% of Total Investments)            
  4,185    Douglas County Public Utility District 1, Washington, Revenue Bonds, Wells Hydroelectric, Series   9/06 at 106.00    AA      4,683,392
      1986, 8.750%, 9/01/18            
  2,500    Energy Northwest, Washington, Electric Revenue Refunding Bonds, Columbia Generating Station -   7/12 at 100.00    AAA      2,807,950
      Nuclear Project 2, Series 2002C, 5.750%, 7/01/17 - MBIA Insured            
  6,750    Energy Northwest, Washington, Electric Revenue Refunding Bonds, Columbia Generating Station -   7/12 at 100.00    AAA      7,362,090
      Nuclear Project 2, Series 2002B, 5.350%, 7/01/18 - FSA Insured            
  6,950    Port of Seattle, Washington, Revenue Bonds, Series 2000B, 5.625%, 2/01/24 (Alternative Minimum   8/10 at 100.00    AAA      7,482,231
      Tax) - MBIA Insured            
  13,400    Seattle, Washington, Municipal Light and Power Revenue Bonds, Series 2000, 5.400%, 12/01/25   12/10 at 100.00    Aa3      14,159,110
  9,440    Tacoma, Washington, Electric System Revenue Refunding Bonds, Series 2001A, 5.750%, 1/01/18 - FSA   1/11 at 101.00    AAA      10,486,990
      Insured            
  3,450    Washington State Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds,   6/13 at 100.00    BBB      3,820,806
      Series 2002, 6.500%, 6/01/26            
  18,145    Washington, General Obligation Bonds, Series 2001-02A, 5.000%, 7/01/23 - FSA Insured   7/11 at 100.00    AAA      19,111,403
      Washington, Motor Vehicle Fuel Tax General Obligation Bonds, Series 2002C:            
  7,000    5.000%, 1/01/21 - FSA Insured   1/12 at 100.00    AAA      7,410,270
  7,960    5.000%, 1/01/22 - FSA Insured   1/12 at 100.00    AAA      8,399,312
  5,500    Washington State Healthcare Facilities Authority, Revenue Bonds, Swedish Health Services, Series   11/08 at 101.00    Aaa      5,906,010
      1998, 5.500%, 11/15/14 - AMBAC Insured            
      Wisconsin - 1.4% (0.9% of Total Investments)            
  195    Badger Tobacco Asset Securitization Corporation, Wisconsin, Tobacco Settlement Asset-Backed Bonds,   6/12 at 100.00    BBB      210,062
      Series 2002, 6.125%, 6/01/27            
  7,545    La Crosse, Wisconsin, Pollution Control Revenue Refunding Bonds, Dairyland Power Cooperative,   12/08 at 102.00    AAA      8,171,160
      Series 1997A, 5.450%, 9/01/14 - AMBAC Insured            
  535    Wisconsin Housing and Economic Development Authority, Housing Revenue Bonds, Series 1992A, 6.850%,   1/06 at 100.00    AA      535,963
      11/01/12            
  3,000    Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Fort Healthcare Inc., Series   5/14 at 100.00    BBB+      3,169,020
      2004, 5.750%, 5/01/29            
$   1,238,815    Total Long-Term Investments (cost $1,179,546,527) - 151.4%             1,277,704,237
      Other Assets Less Liabilities - 2.2%             17,954,713
      Preferred Shares, at Liquidation Value - (53.6)%             (452,000,000)
      Net Assets Applicable to Common Shares - 100%           $   843,658,950

(1 )    All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares 
    unless otherwise noted. 
*     Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There 
    may be other call provisions at varying prices at later dates. 
**     Ratings: Using the higher of Standard & Poor's or Moody's rating. 
***     Securities are backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency 
    securities which ensures the timely payment of principal and interest. Such securities are normally considered 
    to be equivalent to AAA rated securities. 
N/R     Investment is not rated. 
(a)     The issuer has received a preliminary adverse determination from the Internal Revenue Service (the “IRS”) 
    regarding the tax-exempt status of the bonds' coupon payments. The Fund will continue to treat coupon 
    payments as tax-exempt income until such time that it is formally determined that the interest on the bonds 
    should be treated as taxable. 
 
    Income Tax Information 
 
    The following information is presented on an income tax basis. Differences between amounts for financial statement 
    and federal income tax purposes are primarily due to timing differences in recognizing income on taxable market 
    discount securities and timing differences in recognizing certain gains and losses on investment transactions. 
 
    At July 31, 2005, the cost of investments was $1,179,389,308. 
 
    Gross unrealized appreciation and gross unrealized depreciation of investments at July 31, 2005, were as 
    follows: 

             Gross unrealized:       
                Appreciation        $99,588,445  
                Depreciation      (1,273,516 ) 
 
             Net unrealized appreciation of investments        $98,314,929  

Item 2. Controls and Procedures.

  1. The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
  2. There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.


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.

(Registrant)         Nuveen Quality Income Municipal Fund, Inc.        

By (Signature and Title)*          /s/ Jessica R. Droeger--Vice President and Secretary        

Date         09/29/05        

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 (Signature and Title)*         /s/ Gifford R. Zimmerman--Chief Administrative Officer (principal executive officer)        

Date         09/29/05        

By (Signature and Title)*         /s/ Stephen D. Foy--Vice President and Controller (principal financial officer)        

Date         09/29/05        

* Print the name and title of each signing officer under his or her signature.