0000891804-11-001404.txt : 20110401 0000891804-11-001404.hdr.sgml : 20110401 20110401122938 ACCESSION NUMBER: 0000891804-11-001404 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110131 FILED AS OF DATE: 20110401 DATE AS OF CHANGE: 20110401 EFFECTIVENESS DATE: 20110401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NUVEEN PREMIER MUNICIPAL INCOME FUND INC CENTRAL INDEX KEY: 0000880845 IRS NUMBER: 363792252 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06456 FILM NUMBER: 11729751 BUSINESS ADDRESS: STREET 1: 333 WEST WACKER DR CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3129178200 N-Q 1 nq2.htm NPF_NQ nq2.htm



 
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 811-6456
 
Nuveen Premier Municipal Income Fund, Inc.
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Kevin J. McCarthy
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:         1/31/11         
 
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 Premier Municipal Income Fund, Inc. (NPF)
     
   
January 31, 2011
     
Principal
   
Optional Call
   
Amount (000)
 
Description (1)
Provisions (2)
Ratings (3)
Value
   
Alabama – 1.7% (1.0% of Total Investments)
     
$        2,010
 
Alabama Special Care Facilities Financing Authority, Revenue Bonds, Ascension Health,
11/16 at 100.00
Aa1
$     1,830,386
   
Series 2006C-2, 5.000%, 11/15/39 (WI/DD, Settling 2/10/11)
     
   
Birmingham Special Care Facilities Financing Authority, Alabama, Revenue Bonds, Baptist Health
     
   
System Inc., Series 2005A:
     
1,200
 
5.250%, 11/15/20
11/15 at 100.00
Baa2
1,171,212
400
 
5.000%, 11/15/30
11/15 at 100.00
Baa2
349,380
1,000
 
Montgomery BMC Special Care Facilities Financing Authority, Alabama, Revenue Bonds, Baptist
11/14 at 100.00
A3 (4)
1,146,150
   
Medical Center, Series 2004C, 5.250%, 11/15/29 (Pre-refunded 11/15/14)
     
4,610
 
Total Alabama
   
4,497,128
   
Alaska – 0.2% (0.1% of Total Investments)
     
1,000
 
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds,
6/14 at 100.00
Baa3
589,340
   
Series 2006A, 5.000%, 6/01/46
     
   
Arizona – 7.9% (4.7% of Total Investments)
     
   
Glendale Industrial Development Authority, Arizona, Revenue Bonds, John C. Lincoln Health
     
   
Network, Series 2005B:
     
100
 
5.250%, 12/01/24
12/15 at 100.00
BBB
93,187
135
 
5.250%, 12/01/25
12/15 at 100.00
BBB
123,669
7,000
 
Phoenix, Arizona, Civic Improvement Revenue Bonds, Civic Plaza, Series 2005B, 0.000%, 7/01/39 –
No Opt. Call
AA
5,660,410
   
FGIC Insured
     
7,500
 
Salt River Project Agricultural Improvement and Power District, Arizona, Electric System
1/13 at 100.00
Aa1
7,639,575
   
Revenue Bonds, Series 2002B, 5.000%, 1/01/25 (UB)
     
2,045
 
Salt River Project Agricultural Improvement and Power District, Arizona, Electric System
1/12 at 101.00
N/R (4)
2,155,532
   
Revenue Refunding Bonds, Series 2002A, 5.250%, 1/01/15 (Pre-refunded 1/01/12)
     
3,955
 
Salt River Project Agricultural Improvement and Power District, Arizona, Electric System
1/12 at 101.00
Aa1
4,143,021
   
Revenue Refunding Bonds, Series 2002A, 5.250%, 1/01/15
     
1,200
 
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc
No Opt. Call
A
1,021,068
   
Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37
     
21,935
 
Total Arizona
   
20,836,462
   
Arkansas – 0.8% (0.5% of Total Investments)
     
2,155
 
Arkansas Development Finance Authority, State Facility Revenue Bonds, Department of Correction
11/15 at 100.00
AA+
2,206,763
   
Special Needs Unit Project, Series 2005B, 5.000%, 11/01/25 – AGM Insured
     
   
California – 21.9% (13.1% of Total Investments)
     
10,000
 
Anaheim Public Finance Authority, California, Public Improvement Project Lease Bonds,
9/17 at 100.00
A1
7,880,599
   
Series 2007A-1, 4.375%, 3/01/37 – FGIC Insured
     
5,690
 
California Department of Veterans Affairs, Home Purchase Revenue Bonds, Series 2002A, 5.300%,
6/12 at 101.00
AA
5,759,475
   
12/01/21 – AMBAC Insured
     
1,350
 
California Educational Facilities Authority, Revenue Bonds, University of Southern California,
10/15 at 100.00
AA+
1,326,942
   
Series 2005, 4.750%, 10/01/28 (UB)
     
1,975
 
California Health Facilities Financing Authority, Revenue Bonds, Catholic Healthcare West,
No Opt. Call
A+
2,110,070
   
Series 2004I, 4.950%, 7/01/26 (Mandatory put 7/01/14)
     
1,700
 
California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services,
10/19 at 100.00
AA
1,640,500
   
Series 2009B, 5.500%, 10/01/39
     
4,900
 
California State, General Obligation Bonds, Series 2004, 5.000%, 6/01/23 – AMBAC Insured
12/14 at 100.00
A1
4,888,044
500
 
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity
7/15 at 100.00
BBB
382,320
   
Health System, Series 2005A, 5.000%, 7/01/39
     
1,600
 
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System,
8/16 at 100.00
A+
1,482,624
   
Series 2001C, 5.250%, 8/01/31
     
1,025
 
California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Tender
No Opt. Call
AA–
799,008
   
Option Bond Trust 3175, 13.571%, 5/15/14 (IF)
     
1,000
 
Chula Vista, California, Industrial Development Revenue Bonds, San Diego Gas and Electric
6/14 at 102.00
A
1,018,510
   
Company, Series 1996A, 5.300%, 7/01/21
     
25,000
 
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds,
No Opt. Call
AAA
21,594,995
   
Series 1995A, 0.000%, 1/01/17 (ETM) (5)
     
450
 
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
6/13 at 100.00
AAA
506,597
   
Bonds, Series 2003A-1, 6.750%, 6/01/39 (Pre-refunded 6/01/13)
     
3,500
 
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
6/17 at 100.00
Baa3
2,063,530
   
Bonds, Series 2007A-1, 5.125%, 6/01/47
     
6,005
 
Los Angeles Unified School District, California, General Obligation Bonds, Series 2005E,
7/15 at 100.00
Aa2
6,272,403
   
5.000%, 7/01/22 – AMBAC Insured
     
   
San Diego County, California, Certificates of Participation, Burnham Institute, Series 2006:
     
100
 
5.000%, 9/01/21
9/15 at 102.00
Baa3
87,806
110
 
5.000%, 9/01/23
9/15 at 102.00
Baa3
93,511
64,905
 
Total California
   
57,906,934
   
Colorado – 11.5% (6.8% of Total Investments)
     
1,000
 
Colorado Health Facilities Authority, Revenue Bonds, Evangelical Lutheran Good Samaritan
6/16 at 100.00
A–
896,810
   
Society, Series 2005, 5.000%, 6/01/29
     
1,150
 
Colorado Health Facilities Authority, Revenue Bonds, Parkview Medical Center, Series 2004,
9/14 at 100.00
A3
1,080,379
   
5.000%, 9/01/25
     
400
 
Colorado Health Facilities Authority, Revenue Bonds, Poudre Valley Health Care, Series 2005F,
3/15 at 100.00
A
373,376
   
5.000%, 3/01/25
     
750
 
Colorado Health Facilities Authority, Revenue Bonds, Vail Valley Medical Center, Series 2004,
1/15 at 100.00
A–
765,885
   
5.000%, 1/15/17
     
   
Denver City and County, Colorado, Airport Revenue Bonds, Series 2006:
     
4,170
 
5.000%, 11/15/23 – FGIC Insured
11/16 at 100.00
A+
4,258,946
6,800
 
5.000%, 11/15/24 – FGIC Insured
11/16 at 100.00
A+
6,899,484
   
Denver, Colorado, Airport Revenue Bonds, Series 2006A:
     
6,890
 
5.000%, 11/15/23 – FGIC Insured (UB)
11/16 at 100.00
A+
7,036,964
8,940
 
5.000%, 11/15/25 – FGIC Insured (UB)
11/16 at 100.00
A+
9,010,805
30,100
 
Total Colorado
   
30,322,649
   
Connecticut – 0.8% (0.5% of Total Investments)
     
2,020
 
Connecticut Development Authority, Pollution Control Revenue Refunding Bonds, Connecticut
4/11 at 101.00
Baa1
2,018,121
   
Light and Power Company, Series 1993A, 5.850%, 9/01/28
     
   
Florida – 2.7% (1.6% of Total Investments)
     
1,700
 
Hillsborough County Industrial Development Authority, Florida, Exempt Facilities Remarketed
4/12 at 100.00
N/R
1,518,627
   
Revenue Bonds, National Gypsum Company, Apollo Beach Project, Series 2000B, 7.125%,
     
   
4/01/30 (Alternative Minimum Tax)
     
2,500
 
Hillsborough County Industrial Development Authority, Florida, Pollution Control Revenue
10/12 at 100.00
Baa1
2,609,125
   
Bonds, Tampa Electric Company Project, Series 2002, 5.100%, 10/01/13
     
105
 
Marion County Hospital District, Florida, Revenue Bonds, Munroe Regional Medical Center,
10/17 at 100.00
A3
90,273
   
Series 2007, 5.000%, 10/01/34
     
1,000
 
South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System
8/17 at 100.00
AA
861,700
   
Obligation Group, Series 2007, 5.000%, 8/15/42 (WI/DD, Settling 2/10/11)
     
2,150
 
Sumter County, Florida, Capital Improvement Revenue Bonds, Series 2006, 5.000%, 6/01/30 –
6/16 at 100.00
A
1,974,883
   
AMBAC Insured
     
7,455
 
Total Florida
   
7,054,608
   
Georgia – 4.7% (2.8% of Total Investments)
     
8,050
 
George L. Smith II World Congress Center Authority, Atlanta, Georgia, Revenue Refunding Bonds,
7/11 at 100.00
Baa1
8,082,441
   
Domed Stadium Project, Series 2000, 5.500%, 7/01/20 – NPFG Insured
     
   
(Alternative Minimum Tax)
     
4,105
 
Municipal Electric Authority of Georgia, Combustion Turbine Revenue Bonds, Series 2003A,
11/13 at 100.00
A1
4,432,456
   
5.125%, 11/01/17 – NPFG Insured
     
12,155
 
Total Georgia
   
12,514,897
   
Hawaii – 0.9% (0.5% of Total Investments)
     
2,250
 
Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaiian Electric
7/11 at 100.00
Baa1
2,250,450
   
Company Inc., Series 1999D, 6.150%, 1/01/20 – AMBAC Insured (Alternative Minimum Tax)
     
   
Idaho – 0.2% (0.1% of Total Investments)
     
40
 
Idaho Housing and Finance Association, Single Family Mortgage Bonds, Series 1996E, 6.350%,
7/11 at 100.00
Aa1
40,083
   
7/01/14 (Alternative Minimum Tax)
     
   
Madison County, Idaho, Hospital Revenue Certificates of Participation, Madison Memorial
     
   
Hospital, Series 2006:
     
500
 
5.250%, 9/01/26
9/16 at 100.00
BBB–
430,640
200
 
5.250%, 9/01/37
9/16 at 100.00
BBB–
158,418
740
 
Total Idaho
   
629,141
   
Illinois – 11.2% (6.7% of Total Investments)
     
415
 
Chicago Public Building Commission, Illinois, General Obligation Lease Certificates, Chicago
No Opt. Call
AAA
466,423
   
Board of Education, Series 1990B, 7.000%, 1/01/15 – NPFG Insured (ETM)
     
8,670
 
Chicago, Illinois, General Obligation Bonds, City Colleges, Series 1999, 0.000%, 1/01/24 –
No Opt. Call
Aa3
3,945,023
   
FGIC Insured
     
2,000
 
Chicago, Illinois, Revenue Bonds, Midway Airport, Series 1996A, 5.500%, 1/01/29 – NPFG Insured
7/11 at 100.00
A
1,964,160
8,500
 
Chicago, Illinois, Senior Lien Water Revenue Bonds, Series 2001, 5.750%, 11/01/30 –
No Opt. Call
Aa3
9,054,709
   
AMBAC Insured
     
200
 
Illinois Finance Authority, Revenue Bonds, Proctor Hospital, Series 2006, 5.125%, 1/01/25
1/16 at 100.00
BB+
163,276
1,000
 
Illinois Health Facilities Authority, Revenue Bonds, Condell Medical Center, Series 2002,
5/12 at 100.00
Aaa
1,062,020
   
5.500%, 5/15/32 (Pre-refunded 5/15/12)
     
1,500
 
Illinois, General Obligation Bonds, Illinois FIRST Program, Series 2002, 5.500%, 2/01/17
2/12 at 100.00
A+ (4)
1,575,615
   
(Pre-refunded 2/01/12) – FGIC Insured
     
   
Lombard Public Facilities Corporation, Illinois, Second Tier Conference Center and Hotel
     
   
Revenue Bonds, Series 2005B:
     
850
 
5.250%, 1/01/25
1/16 at 100.00
B–
547,392
1,750
 
5.250%, 1/01/30
1/16 at 100.00
B–
1,038,608
   
Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place
     
   
Expansion Project, Series 1996A:
     
10,575
 
0.000%, 12/15/23 – NPFG Insured
No Opt. Call
AA–
5,023,548
10,775
 
0.000%, 12/15/24 – NPFG Insured
No Opt. Call
AA–
4,739,492
46,235
 
Total Illinois
   
29,580,266
   
Indiana – 3.4% (2.0% of Total Investments)
     
2,275
 
Anderson School Building Corporation, Madison County, Indiana, First Mortgage Bonds,
1/14 at 100.00
AA+ (4)
2,556,804
   
Series 2003, 5.500%, 7/15/23 (Pre-refunded 1/15/14) – AGM Insured
     
6,180
 
Crown Point Multi-School Building Corporation, Indiana, First Mortgage Bonds, Crown Point
No Opt. Call
A
3,207,296
   
Community School Corporation, Series 2000, 0.000%, 1/15/23 – NPFG Insured
     
1,250
 
Portage, Indiana, Revenue Bonds, Series 2006, 5.000%, 7/15/23
7/16 at 100.00
A
1,183,350
1,700
 
Saint Joseph County, Indiana, Educational Facilities Revenue Bonds, University of Notre Dame
3/18 at 100.00
Aaa
1,704,454
   
du Lac Project, Refunding Series 2009, 5.000%, 3/01/36
     
1,000
 
St. Joseph County Hospital Authority, Indiana, Revenue Bonds, Madison Center Inc.,
2/15 at 100.00
CCC
379,800
   
Series 2005, 5.250%, 2/15/28 (6), (7)
     
12,405
 
Total Indiana
   
9,031,704
   
Iowa – 1.0% (0.6% of Total Investments)
     
4,000
 
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C,
6/15 at 100.00
BBB
2,633,280
   
5.500%, 6/01/42
     
   
Kentucky – 0.8% (0.5% of Total Investments)
     
1,700
 
Kentucky Economic Development Finance Authority, Hospital Facilities Revenue Bonds, Owensboro
No Opt. Call
Baa2
1,604,732
   
Medical Health System, Series 2010A, 6.500%, 3/01/45
     
510
 
Louisville and Jefferson County Metropolitan Government, Kentucky, Industrial Building Revenue
10/16 at 100.00
N/R
442,966
   
Bonds, Sisters of Mercy of the Americas, Series 2006, 5.000%, 10/01/35
     
2,210
 
Total Kentucky
   
2,047,698
   
Louisiana – 6.4% (3.8% of Total Investments)
     
1,310
 
Louisiana Housing Finance Agency, GNMA Collateralized Mortgage Revenue Bonds, St. Dominic
3/11 at 100.00
AA+
1,311,323
   
Assisted Care Facility, Series 1995, 6.850%, 9/01/25
     
1,500
 
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project,
5/17 at 100.00
Baa1
1,202,745
   
Series 2007A, 5.500%, 5/15/47
     
   
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A:
     
825
 
4.750%, 5/01/39 – AGM Insured (UB)
5/16 at 100.00
AA+
751,559
8,880
 
4.500%, 5/01/41 – FGIC Insured (UB)
5/16 at 100.00
Aa1
7,686,350
5
 
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A, Residuals 660-1, 16.556%,
5/16 at 100.00
Aa1
2,318
   
5/01/34 – FGIC Insured (IF)
     
3,950
 
Morehouse Parish, Louisiana, Pollution Control Revenue Bonds, International Paper Company,
No Opt. Call
BBB
4,088,171
   
Series 2002A, 5.700%, 4/01/14
     
2,090
 
Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Bonds,
5/11 at 101.00
A–
1,906,665
   
Series 2001B, 5.875%, 5/15/39
     
18,560
 
Total Louisiana
   
16,949,131
   
Maine – 0.7% (0.4% of Total Investments)
     
1,770
 
Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Series 2004A-2, 5.000%,
5/13 at 100.00
AA+
1,816,392
   
11/15/21 (Alternative Minimum Tax)
     
   
Maryland – 1.3% (0.8% of Total Investments)
     
2,000
 
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health,
8/14 at 100.00
A2
2,016,920
   
Series 2004, 5.375%, 8/15/24
     
1,500
 
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Western Maryland
7/16 at 100.00
Baa1
1,312,575
   
Health, Series 2006A, 4.750%, 7/01/36 – NPFG Insured
     
3,500
 
Total Maryland
   
3,329,495
   
Massachusetts – 4.3% (2.6% of Total Investments)
     
7,500
 
Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Senior
1/20 at 100.00
A
7,053,900
   
Lien Series 2010B, 5.000%, 1/01/37
     
1,000
 
Massachusetts Development Finance Authority, Revenue Bonds, Hampshire College, Series 2004,
10/14 at 100.00
BBB
963,640
   
5.625%, 10/01/24
     
3,000
 
Massachusetts State, Special Obligation Dedicated Tax Revenue Bonds, Series 2004, 5.250%,
1/14 at 100.00
A1 (4)
3,353,160
   
1/01/24 (Pre-refunded 1/01/14) – FGIC Insured
     
11,500
 
Total Massachusetts
   
11,370,700
   
Michigan – 4.0% (2.4% of Total Investments)
     
2,925
 
Detroit, Michigan, General Obligation Bonds, Series 2003A, 5.250%, 4/01/17 – SYNCORA
4/13 at 100.00
BB
2,631,184
   
GTY Insured
     
4,600
 
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2006B, 4.625%,
7/16 at 100.00
A
3,767,262
   
7/01/34 – FGIC Insured
     
1,000
 
Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group,
12/16 at 100.00
AA
914,060
   
Series 2006A, 5.000%, 12/01/31 (WI/DD, Settling 2/10/11)
     
170
 
Monroe County Hospital Finance Authority, Michigan, Mercy Memorial Hospital Corporation
6/16 at 100.00
Baa3
133,622
   
Revenue Bonds, Series 2006, 5.500%, 6/01/35
     
3,025
 
Wayne County, Michigan, Airport Revenue Refunding Bonds, Detroit Metropolitan Airport,
12/12 at 100.00
A2
3,188,713
   
Series 2002C, 5.375%, 12/01/19 – FGIC Insured
     
11,720
 
Total Michigan
   
10,634,841
   
Minnesota – 5.2% (3.1% of Total Investments)
     
4,350
 
Cohasset, Minnesota, Pollution Control Revenue Bonds, Allete Inc., Series 2004, 4.950%, 7/01/22
7/14 at 100.00
A2
4,342,301
1,000
 
Duluth Economic Development Authority, Minnesota, Healthcare Facilities Revenue Bonds,
2/14 at 100.00
N/R (4)
1,119,640
   
Benedictine Health System - St. Mary’s Duluth Clinic, Series 2004, 5.250%, 2/15/21
     
   
(Pre-refunded 2/15/14)
     
2,290
 
Minneapolis-St. Paul Housing and Redevelopment Authority, Minnesota, Revenue Bonds,
12/13 at 100.00
A3
2,350,227
   
HealthPartners Inc., Series 2003, 6.000%, 12/01/20
     
530
 
Minnesota Higher Education Facilities Authority, Revenue Bonds, University of St. Thomas,
10/14 at 100.00
A2
556,638
   
Series 2004-5Y, 5.250%, 10/01/19
     
1,000
 
Minnesota Municipal Power Agency, Electric Revenue Bonds, Series 2004A, 5.250%, 10/01/19
10/14 at 100.00
A3
1,052,740
1,000
 
Minnesota State, General Obligation Bonds, Various Purpose, Refunding Series 2010D,
No Opt. Call
AAA
1,160,880
   
5.000%, 8/01/18
     
3,000
 
St. Paul Port Authority, Minnesota, Lease Revenue Bonds, Office Building at Cedar Street,
12/13 at 100.00
AA+
3,135,090
   
Series 2003, 5.250%, 12/01/20
     
13,170
 
Total Minnesota
   
13,717,516
   
Mississippi – 0.9% (0.5% of Total Investments)
     
2,325
 
Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Baptist Memorial
9/14 at 100.00
AA
2,334,742
   
Healthcare, Series 2004B-1, 5.000%, 9/01/24 (WI/DD, Settling 2/10/11)
     
   
Missouri – 1.1% (0.6% of Total Investments)
     
100
 
Hannibal Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Hannibal
3/16 at 100.00
BBB+
94,750
   
Regional Hospital, Series 2006, 5.000%, 3/01/22
     
2,880
 
Joplin Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Freeman
2/15 at 102.00
BBB+
2,745,936
   
Health System, Series 2004, 5.500%, 2/15/24
     
2,980
 
Total Missouri
   
2,840,686
   
Nebraska – 1.2% (0.7% of Total Investments)
     
1,580
 
Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Nebraska
No Opt. Call
Aa3
1,676,175
   
Medical Center, Series 2003, 5.000%, 11/15/16
     
755
 
Grand Island, Nebraska, Electric System Revenue Bonds, Series 1977, 6.100%, 9/01/12 (ETM)
3/11 at 100.00
A1 (4)
794,132
515
 
Omaha Public Power District, Nebraska, Separate Electric System Revenue Bonds, Nebraska
2/17 at 100.00
AA+
591,472
   
City 2, Series 2006A, 19.388%, 8/01/40 – AMBAC Insured (IF)
     
2,850
 
Total Nebraska
   
3,061,779
   
Nevada – 1.5% (0.9% of Total Investments)
     
4,000
 
Clark County, Nevada, Airport Revenue Bonds, Subordinte Lien Series 2010B, 5.750%, 7/01/42
1/20 at 100.00
Aa3
3,965,280
   
New Hampshire – 2.4% (1.4% of Total Investments)
     
1,110
 
New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth College,
6/19 at 100.00
AA+
1,182,994
   
Tender Option Bond Trust 09-7W, 13.831%, 6/01/39 (IF)
     
5,000
 
New Hampshire Housing Finance Authority, FHLMC Multifamily Housing Remarketed Revenue Bonds,
7/11 at 100.50
Aaa
5,052,950
   
Countryside LP, Series 1994, 6.100%, 7/01/24 (Alternative Minimum Tax)
     
6,110
 
Total New Hampshire
   
6,235,944
   
New Jersey – 5.7% (3.4% of Total Investments)
     
1,000
 
New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2005P,
9/15 at 100.00
AA–
1,037,670
   
5.250%, 9/01/24
     
3,000
 
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2003C,
6/13 at 100.00
AAA
3,332,820
   
5.500%, 6/15/24 (Pre-refunded 6/15/13)
     
   
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C:
     
25,000
 
0.000%, 12/15/35 – AMBAC Insured
No Opt. Call
AA–
4,634,750
10,000
 
0.000%, 12/15/36 – AMBAC Insured
No Opt. Call
AA–
1,721,200
1,500
 
New Jersey Turnpike Authority, Revenue Bonds, Series 2003A, 5.000%, 1/01/19 – FGIC Insured
7/13 at 100.00
A+
1,591,515
2,500
 
New Jersey Turnpike Authority, Revenue Bonds, Series 2005A, 5.000%, 1/01/25 – AGM Insured
1/15 at 100.00
AA+
2,584,675
43,000
 
Total New Jersey
   
14,902,630
   
New York – 17.2% (10.2% of Total Investments)
     
   
Brooklyn Areba Local Development Corporation, New York, Payment in Lieu of Taxes Revenue
     
   
Bonds, Barclays Center Project, Series 2009:
     
660
 
6.000%, 7/15/30
1/20 at 100.00
BBB–
642,998
1,600
 
0.000%, 7/15/44
No Opt. Call
BBB–
147,696
1,500
 
Dormitory Authority of the State of New York, State and Local Appropriation Lease Bonds,
7/14 at 100.00
AA–
1,584,840
   
Upstate Community Colleges, Series 2004B, 5.250%, 7/01/19
     
2,200
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 4.500%,
2/17 at 100.00
A
1,668,590
   
2/15/47 – NPFG Insured
     
7,500
 
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series
6/16 at 100.00
AA+
7,555,350
   
2006A, 5.000%, 12/01/25 – FGIC Insured (UB)
     
5,000
 
Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds,
11/12 at 100.00
A
5,146,350
   
Series 2002A, 5.125%, 11/15/21 – FGIC Insured
     
2,000
 
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue
12/14 at 100.00
AAA
2,057,680
   
Bonds, Fiscal Series 2005B, 5.000%, 6/15/23 – AMBAC Insured
     
4,265
 
New York City, New York, General Obligation Bonds, Fiscal Series 2003D, 5.250%, 10/15/22 (UB)
10/13 at 100.00
AA
4,485,245
1,050
 
New York City, New York, General Obligation Bonds, Fiscal Series 2004B, 5.250%, 8/01/15
8/14 at 100.00
AA
1,155,714
4,000
 
New York City, New York, General Obligation Bonds, Series 2004C-1, 5.250%, 8/15/20 (UB)
8/14 at 100.00
AA
4,284,000
910
 
New York Convention Center Development Corporation, Hotel Fee Revenue Bonds, Trust 2364,
11/15 at 100.00
AA+
802,875
   
16.924%, 11/15/44 – AMBAC Insured (IF)
     
3,250
 
New York State Municipal Bond Bank Agency, Special School Purpose Revenue Bonds,
6/13 at 100.00
A+
3,324,393
   
Series 2003C, 5.250%, 6/01/22
     
   
New York State Thruway Authority, General Revenue Bonds, Series 2005G:
     
6,460
 
5.000%, 1/01/25 – AGM Insured (UB)
7/15 at 100.00
AA+
6,560,711
2,580
 
5.000%, 1/01/26 – AGM Insured (UB)
7/15 at 100.00
AA+
2,608,896
1,850
 
New York State Urban Development Corporation, Service Contract Revenue Bonds,
3/15 at 100.00
AAA
1,909,570
   
Series 2005B, 5.000%, 3/15/24 – AGM Insured (UB)
     
1,000
 
New York State Urban Development Corporation, Subordinate Lien Corporate Purpose Bonds,
7/14 at 100.00
A
1,031,210
   
Series 2004A, 5.125%, 1/01/22
     
395
 
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air
12/20 at 100.00
BBB–
375,388
   
Terminal LLC Project, Eigth Series 2010, 6.000%, 12/01/42
     
46,220
 
Total New York
   
45,341,506
   
North Carolina – 4.3% (2.6% of Total Investments)
     
10,300
 
North Carolina Eastern Municipal Power Agency, Power System Revenue Refunding Bonds,
No Opt. Call
A
11,470,079
   
Series 1993B, 6.000%, 1/01/22 – CAPMAC Insured
     
   
Ohio – 2.7% (1.6% of Total Investments)
     
   
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
     
   
Bonds, Senior Lien, Series 2007A-2:
     
100
 
5.125%, 6/01/24
6/17 at 100.00
Baa3
75,399
1,050
 
5.875%, 6/01/30
6/17 at 100.00
Baa3
732,711
1,055
 
5.750%, 6/01/34
6/17 at 100.00
Baa3
699,697
2,355
 
5.875%, 6/01/47
6/17 at 100.00
Baa3
1,551,239
4,000
 
Ohio, Solid Waste Revenue Bonds, Republic Services Inc., Series 2004, 4.250%, 4/01/33
No Opt. Call
BBB+
3,954,320
   
(Mandatory put 4/01/14) (Alternative Minimum Tax)
     
250
 
Port of Greater Cincinnati Development Authority, Ohio, Economic Development Revenue Bonds,
10/16 at 100.00
N/R
223,238
   
Sisters of Mercy of the Americas, Series 2006, 5.000%, 10/01/25
     
8,810
 
Total Ohio
   
7,236,604
   
Oklahoma – 1.1% (0.7% of Total Investments)
     
450
 
Norman Regional Hospital Authority, Oklahoma, Hospital Revenue Bonds, Series 2005,
9/16 at 100.00
BB+
347,706
   
5.375%, 9/01/36
     
2,725
 
Tulsa County Industrial Authority, Oklahoma, Health Care Revenue Bonds, Saint Francis Health
12/16 at 100.00
AA+
2,548,638
   
System, Series 2006, 5.000%, 12/15/36 (UB)
     
44
 
Tulsa County Industrial Authority, Oklahoma, Health Care Revenue Bonds, Saint Francis Health
12/16 at 100.00
AA+
38,817
   
System, Series 2006, Trust 3500, 8.331%, 6/15/30 (IF)
     
3,219
 
Total Oklahoma
   
2,935,161
   
Oregon – 1.2% (0.7% of Total Investments)
     
   
Oregon State, General Obligation Bonds, State Board of Higher Education, Series 2004A:
     
1,795
 
5.000%, 8/01/21
8/14 at 100.00
Aa1
1,895,879
1,240
 
5.000%, 8/01/23
8/14 at 100.00
Aa1
1,284,057
3,035
 
Total Oregon
   
3,179,936
   
Pennsylvania – 2.1% (1.2% of Total Investments)
     
2,000
 
Allegheny County Sanitary Authority, Pennsylvania, Sewerage Revenue Bonds, Series 2005A,
12/15 at 100.00
A1
2,027,100
   
5.000%, 12/01/23 – NPFG Insured
     
4,500
 
Pennsylvania Turnpike Commission, Turnpike Subordinate Revenue Bonds, Series 2009C, 0.000%,
6/26 at 100.00
AA+
3,373,965
   
6/01/33 – AGM Insured
     
6,500
 
Total Pennsylvania
   
5,401,065
   
Puerto Rico – 0.9% (0.6% of Total Investments)
     
3,000
 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate
8/26 at 100.00
A+
2,450,130
   
Series 2009A, 0.000%, 8/01/32
     
   
Rhode Island – 1.9% (1.1% of Total Investments)
     
4,935
 
Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds,
6/12 at 100.00
BBB
4,957,602
   
Series 2002A, 6.000%, 6/01/23
     
   
South Carolina – 8.5% (5.1% of Total Investments)
     
2,500
 
Berkeley County School District, South Carolina, Installment Purchase Revenue Bonds, Securing
12/13 at 100.00
A1
2,522,050
   
Assets for Education, Series 2003, 5.250%, 12/01/24
     
4,405
 
Dorchester County School District 2, South Carolina, Installment Purchase Revenue Bonds,
12/14 at 100.00
AA–
4,512,702
   
GROWTH, Series 2004, 5.250%, 12/01/23
     
3,340
 
Greenville County School District, South Carolina, Installment Purchase Revenue Bonds,
12/13 at 100.00
AA
3,541,035
   
Series 2003, 5.250%, 12/01/19 (UB)
     
3,620
 
Greenville, South Carolina, Hospital Facilities Revenue Refunding Bonds, Series 2003A, 5.250%,
5/13 at 100.00
AA–
3,665,612
   
5/01/21 – AMBAC Insured
     
310
 
South Carolina JOBS Economic Development Authority, Economic Development Revenue Bonds, Bon
11/12 at 100.00
A3 (4)
337,004
   
Secours Health System Inc., Series 2002A, 5.625%, 11/15/30 (Pre-refunded 11/15/12)
     
1,190
 
South Carolina JOBS Economic Development Authority, Economic Development Revenue Bonds, Bon
11/12 at 100.00
A–
1,146,589
   
Secours Health System Inc., Series 2002B, 5.625%, 11/15/30
     
   
South Carolina JOBS Economic Development Authority, Hospital Refunding and Improvement Revenue
     
   
Bonds, Palmetto Health Alliance, Series 2003C:
     
4,895
 
6.375%, 8/01/34 (Pre-refunded 8/01/13)
8/13 at 100.00
BBB+ (4)
5,519,896
605
 
6.375%, 8/01/34 (Pre-refunded 8/01/13)
8/13 at 100.00
BBB+ (4)
685,284
455
 
Tobacco Settlement Revenue Management Authority, South Carolina, Tobacco Settlement
5/11 at 101.00
BBB (4)
464,196
   
Asset-Backed Bonds, Series 2001B, 6.000%, 5/15/22 (Pre-refunded 5/15/11)
     
21,320
 
Total South Carolina
   
22,394,368
   
South Dakota – 0.6% (0.4% of Total Investments)
     
1,750
 
South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sioux Valley
11/14 at 100.00
AA–
1,705,480
   
Hospitals, Series 2004A, 5.500%, 11/01/31
     
   
Tennessee – 1.3% (0.8% of Total Investments)
     
2,060
 
Johnson City Health and Educational Facilities Board, Tennessee, Hospital Revenue Refunding
7/23 at 100.00
Baa1 (4)
2,066,077
   
and Improvement Bonds, Johnson City Medical Center, Series 1998C, 5.125%, 7/01/25
     
   
(Pre-refunded 7/01/23) – NPFG Insured
     
1,600
 
Johnson City Health and Educational Facilities Board, Tennessee, Revenue Bonds, Mountain
7/16 at 100.00
BBB+
1,375,680
   
States Health Alliance, Series 2006A, 5.500%, 7/01/36
     
50
 
Sumner County Health, Educational, and Housing Facilities Board, Tennessee, Revenue Refunding
11/17 at 100.00
N/R
20,000
   
Bonds, Sumner Regional Health System Inc., Series 2007, 5.500%, 11/01/37 (6), (7), (8)
     
3,710
 
Total Tennessee
   
3,461,757
   
Texas – 6.8% (4.1% of Total Investments)
     
1,075
 
Brazos River Authority, Texas, Pollution Control Revenue Bonds, TXU Energy Company LLC
10/13 at 101.00
CCC–
361,060
   
Project, Series 2003C, 6.750%, 10/01/38 (Alternative Minimum Tax)
     
3,000
 
Houston, Texas, First Lien Combined Utility System Revenue Bonds, Series 2004A, 5.250%,
5/14 at 100.00
AA
3,087,720
   
5/15/25 – NPFG Insured
     
   
Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson
     
   
Memorial Hospital Project, Series 2005:
     
400
 
5.250%, 8/15/21
No Opt. Call
BBB–
385,264
600
 
5.125%, 8/15/26
No Opt. Call
BBB–
523,968
800
 
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds,
11/20 at 100.00
BBB
708,096
   
Southwest Airlines Company, Series 2010, 5.250%, 11/01/40
     
2,265
 
Lower Colorado River Authority, Texas, Contract Revenue Refunding Bonds, Transmission Services
5/13 at 100.00
A
2,278,862
   
Corporation, Series 2003C, 5.250%, 5/15/25 – AMBAC Insured
     
290
 
Mansfield Independent School District, Tarrant County, Texas, General Obligation Bonds,
2/11 at 100.00
AAA
290,757
   
Series 2001, 5.375%, 2/15/26
     
950
 
North Texas Tollway Authority, Second Tier System Revenue Refunding Bonds, Series 2008F,
1/18 at 100.00
A3
887,272
   
5.750%, 1/01/38
     
1,000
 
Sabine River Authority, Texas, Pollution Control Revenue Bonds, TXU Electric Company,
11/15 at 100.00
CCC
295,990
   
Series 2001C, 5.200%, 5/01/28
     
3,000
 
Tarrant County Cultural & Educational Facilities Financing Corporation, Texas, Revenue Bonds,
2/17 at 100.00
AA–
2,801,160
   
Texas Health Resources, Series 2007A, 5.000%, 2/15/36 (UB)
     
125
 
Tarrant County Cultural and Educational Facilities Finance Corporation, Texas, Revenue Bonds,
2/17 at 100.00
AA–
91,870
   
Texas Health Resources Project, Trust 1031, 17.076%, 2/15/30 (IF)
     
   
Texas Tech University, Financing System Revenue Bonds, 9th Series 2003:
     
3,525
 
5.250%, 2/15/18 – AMBAC Insured
8/13 at 100.00
AA
3,828,855
2,250
 
5.250%, 2/15/19 – AMBAC Insured
8/13 at 100.00
AA
2,440,440
19,280
 
Total Texas
   
17,981,314
   
Utah – 0.1% (0.1% of Total Investments)
     
315
 
Utah Housing Corporation, Single Family Mortgage Bonds, Series 2001D, 5.500%, 1/01/21
7/11 at 100.00
Aaa
316,027
   
(Alternative Minimum Tax)
     
20
 
Utah Housing Finance Agency, Single Family Mortgage Bonds, Series 1996C, 6.450%, 7/01/14
7/11 at 100.00
Aaa
20,043
   
(Alternative Minimum Tax)
     
335
 
Total Utah
   
336,070
   
Washington – 6.1% (3.6% of Total Investments)
     
2,000
 
Energy Northwest, Washington, Electric Revenue Refunding Bonds, Columbia Generating Station,
7/12 at 100.00
Aaa
2,120,720
   
Series 2002A, 5.750%, 7/01/17 – NPFG Insured
     
7,000
 
Energy Northwest, Washington, Electric Revenue Refunding Bonds, Nuclear Project 1,
7/13 at 100.00
Aaa
7,576,100
   
Series 2003A, 5.500%, 7/01/16 (UB)
     
3,160
 
King County Public Hospital District 2, Washington, Limited Tax General Obligation Bonds,
6/11 at 101.00
AA–
3,178,612
   
Evergreen Hospital Medical Center, Series 2001A, 5.250%, 12/01/24 – AMBAC Insured
     
1,000
 
Skagit County Public Hospital District 1, Washington, Revenue Bonds, Skagit Valley Hospital,
No Opt. Call
Baa2
1,011,820
   
Series 2003, 6.000%, 12/01/23
     
2,135
 
Washington, General Obligation Refunding Bonds, Series 1992A and 1992AT-6, 6.250%, 2/01/11
No Opt. Call
AA+
2,135,000
65
 
Washington, General Obligation Refunding Bonds, Series 1992A and 1992AT-6, 6.250%,
No Opt. Call
Aa1 (4)
65,000
   
2/01/11 (ETM)
     
15,360
 
Total Washington
   
16,087,252
   
West Virginia – 1.7% (1.0% of Total Investments)
     
2,000
 
West Virginia Water Development Authority, Infrastructure Revenue Bonds, Series 2003A, 5.500%,
10/13 at 101.00
AAA
2,264,500
   
10/01/23 (Pre-refunded 10/01/13) – AMBAC Insured
     
2,150
 
West Virginia Water Development Authority, Loan Program II Revenue Bonds, Series 2003B,
11/13 at 101.00
A
2,203,944
   
5.250%, 11/01/23 – AMBAC Insured
     
4,150
 
Total West Virginia
   
4,468,444
   
Wisconsin – 6.4% (3.8% of Total Investments)
     
5,670
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Agnesian Healthcare
7/11 at 100.00
A– (4)
5,803,132
   
Inc., Series 2001, 6.000%, 7/01/30 (Pre-refunded 7/01/11)
     
160
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Divine Savior
5/16 at 100.00
BBB
127,858
   
Healthcare, Series 2006, 5.000%, 5/01/32
     
1,000
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Fort Healthcare Inc.,
5/14 at 100.00
BBB+
1,004,790
   
Series 2004, 5.375%, 5/01/18
     
205
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Froedtert and Community
10/11 at 101.00
AA–
200,722
   
Health Obligated Group, Series 2001, 5.375%, 10/01/30
     
2,145
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Froedtert and Community
10/11 at 101.00
AA– (4)
2,236,248
   
Health Obligated Group, Series 2001, 5.375%, 10/01/30 (Pre-refunded 10/01/11)
     
5,000
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic,
2/11 at 100.00
BBB+
5,003,900
   
Series 1999, 6.250%, 2/15/18 – RAAI Insured
     
2,500
 
Wisconsin State, General Obligation Bonds, Series 2006A, 4.750%, 5/01/25 – FGIC
5/16 at 100.00
AA
2,518,075
   
Insured (UB)
     
16,680
 
Total Wisconsin
   
16,894,725
   
Wyoming – 0.5% (0.3% of Total Investments)
     
1,350
 
Sweetwater County, Wyoming, Solid Waste Disposal Revenue Bonds, FMC Corporation,
12/15 at 100.00
BBB+
1,280,611
   
Series 2005, 5.600%, 12/01/35 (Alternative Minimum Tax)
     
$      505,614
 
Total Investments (cost $445,418,697) – 167.8%
   
442,860,681
   
Floating Rate Obligations – (21.3)%
   
(56,259,400)
   
Other Assets Less Liabilities – 1.6%
   
4,187,038
   
Auction Rate Preferred Shares, at Liquidation Value – (48.1)% (9)
   
(126,850,000)
   
Net Assets Applicable to Common Shares – 100%
   
$    263,938,319
 
 
 

 
 
Fair Value Measurements
 
In determining the fair value of the Fund’s investments, various inputs are used. These inputs are summarized in the three broad levels listed below:
 
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 speeds, credit risk, etc.).
 
Level 3 – Significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
The inputs or methodologies used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of January 31, 2011:
 
                       
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Investments:
                     
Municipal Bonds
$     $ 442,460,881     $ 399,800     $ 442,860,681  
 
The following is a reconciliation of the Fund’s Level 3 investments held at the beginning and end of the measurement period:
 
 
Level 3
 
 
Municipal Bonds
 
Balance at the beginning of period
$ 403,317  
Gains (losses):
     
   Net realized gains (losses)
   
   Net change in unrealized appreciation (depreciation)
  (3,428 )
Purchases at cost
   
Sales at proceeds
   
Net discounts (premiums)
  (89 )
Transfers in to
   
Transfers out of
   
Balance at the end of period
$ 399,800  
 
During the period ended January 31, 2011, the Fund recognized no significant transfers to/from Level 1, Level 2 or Level 3.
 
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 taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
At January 31, 2011, the cost of investments was $395,551,844.
 
Gross unrealized appreciation and gross unrealized depreciation of investments at January 31, 2011, were as follows:
     
Gross unrealized:
   
   Appreciation
$ 14,423,775  
   Depreciation
  (23,369,430 )
Net unrealized appreciation (depreciation) of investments
$ (8,945,655 )
 
     
(1)
 
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common
   
shares unless otherwise noted.
(2)
 
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. Certain mortgage-backed securities
   
may be subject to periodic principal paydowns.
(3)
 
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investor Service, Inc.
   
(“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB
   
by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of
   
these national rating agencies.
(4)
 
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities,
   
which ensure the timely payment of principal and interest. Such investments are normally considered to
   
be equivalent to AAA rated securities.
(5)
 
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
   
inverse floating rate transactions.
(6)
 
For fair value measurement disclosure purposes, investment categorized as Level 3.
(7)
 
The Fund’s Adviser has concluded this issue is not likely to meet its future interest payment obligations
   
and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records.
(8)
 
Investment valued at fair value using methods determined in good faith by, or at the discretion of, the
   
Board of Directors/Trustees.
(9)
 
Auction Rate Preferred Shares, at Liquidation Value as a percentage of Total Investments is 28.6%.
N/R
 
Not rated.
WI/DD
 
Purchased on a when-issued or delayed delivery basis.
(ETM)
 
Escrowed to maturity.
(IF)
 
Inverse floating rate investment.
(UB)
 
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
 
 
 

 
Item 2. Controls and Procedures.

a.  
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)).
 
 
b.  
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: See 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 Premier Municipal Income Fund, Inc. 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date         April 1, 2011        
 
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                    
                                                    Gifford R. Zimmerman
                                                  Chief Administrative Officer (principal executive officer) 
 
Date         April 1, 2011        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date         April 1, 2011        
 

EX-99.CERT 2 npf_certification2.htm CERTIFICATIONS Unassociated Document
CERTIFICATIONS

I, Gifford R. Zimmerman, certify that:
 
1.
I have reviewed this report on Form N-Q of Nuveen Premier Municipal Income Fund, Inc.;
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 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 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.
 
Date:         April 1, 2011        
 
/s/ Gifford R. Zimmerman
Gifford R. Zimmerman
Chief Administrative Officer
(principal executive officer)
 
 
 
 

 
 
 
CERTIFICATIONS
 
I, Stephen D. Foy, certify that:
 
1.
I have reviewed this report on Form N-Q of Nuveen Premier Municipal Income Fund, Inc.;
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 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 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.
 
Date:         April 1, 2011        
 
/s/ Stephen D. Foy
Stephen D. Foy
Vice President and Controller
(principal financial officer)