-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DMn4DRpddnjUr3UW4K7VEASVTO4eCp5Nsi4OZ2T1N4he/wYGABucLsDTZ1a+5LTl +lLBYtLVW4tMXFdaKNIvQw== 0000900092-05-000425.txt : 20050929 0000900092-05-000425.hdr.sgml : 20050929 20050928174202 ACCESSION NUMBER: 0000900092-05-000425 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050731 FILED AS OF DATE: 20050929 DATE AS OF CHANGE: 20050928 EFFECTIVENESS DATE: 20050929 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MUNIYIELD CALIFORNIA INSURED FUND INC CENTRAL INDEX KEY: 0000888410 IRS NUMBER: 223194459 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06692 FILM NUMBER: 051109370 BUSINESS ADDRESS: STREET 1: 800 SCUDDERS MILL RD CITY: PLAINSBORO STATE: NJ ZIP: 08536 BUSINESS PHONE: 6092822800 MAIL ADDRESS: STREET 1: 800 SCUDDERS MILL ROAD CITY: PLAINSBORO STATE: NJ ZIP: 08536 FORMER COMPANY: FORMER CONFORMED NAME: MUNIYIELD CALIFORNIA INSURED FUND II INC DATE OF NAME CHANGE: 19920929 N-Q 1 cainsured.txt MUNIYIELD CALIFORNIA INSURED FUND, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-6692 Name of Fund: MuniYield California Insured Fund, Inc. Fund Address: P.O. Box 9011 Princeton, NJ 08543-9011 Name and address of agent for service: Robert C. Doll, Jr., Chief Executive Officer, MuniYield California Insured Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011 Registrant's telephone number, including area code: (609) 282-2800 Date of fiscal year end: 10/31/05 Date of reporting period: 05/01/05 - 07/31/05 Item 1 - Schedule of Investments MuniYield California Insured Fund, Inc. Schedule of Investments as of July 31, 2005 (in Thousands)
Face Amount Municipal Bonds Value California - 131.0% $ 7,000 ABAG Finance Authority for Nonprofit Corporations, California, COP (Children's Hospital Medical Center), 6% due 12/01/2029 (a) $ 7,756 2,350 Alameda, California, GO, 5% due 8/01/2033 (g) 2,479 3,580 Anaheim, California, Public Financing Authority, Electric System Distribution Facilities Revenue Bonds, Series A, 5% due 10/01/2031 (e) 3,728 2,400 Anaheim, California, Union High School District, GO (Election of 2002), 5% due 8/01/2027 (g) 2,526 5,630 Antelope Valley, California, Community College District, GO (Election of 2004), Series A, 5% due 8/01/2029 (g) 5,971 3,675 Bakersfield, California, COP, Refunding (Convention Center Expansion Project), 5.80% due 4/01/2017 (g) 3,878 255 Bay Area Government Association, California, Tax Allocation Revenue Refunding Bonds (California Redevelopment Agency Pool), Series A, 6% due 12/15/2024 (e) 260 3,990 Brentwood, California, Infrastructure Refinancing Authority, Infrastructure Revenue Refunding Bonds, Series A, 5.20% due 9/02/2029 (e) 4,220 California Community College Financing Authority, Lease Revenue Bonds, Series A (g): 3,215 5.95% due 12/01/2022 3,607 1,100 6% due 12/01/2029 1,231 California Educational Facilities Authority Revenue Bonds, Series A: 28,000 (Pepperdine University), 5.50% due 8/01/2032 (g) 30,604 5,000 (University of San Diego), 5.50% due 10/01/2032 5,342 14,655 California Educational Facilities Authority, Student Loan Revenue Bonds (Caledge Loan Program), AMT, 5.55% due 4/01/2028 (a) 15,404 California HFA, Home Mortgage Revenue Bonds, VRDN, AMT (j): 3,500 Series B, 2.23% due 8/01/2033 (e) 3,500 4,900 Series F, 2.22% due 2/01/2033 (a) 4,900 1,470 Series R, 2.23% due 8/01/2032 (a) 1,470 2,750 California Health Facilities Financing Authority Revenue Bonds (Kaiser Permanente), Series A, 5.50% due 6/01/2022 (e)(k) 2,925 California Rural Home Mortgage Finance Authority, S/F Mortgage Revenue Bonds (Mortgage-Backed Securities Program), AMT (f): 680 Series A, 6.35% due 12/01/2029 (c)(d) 696 110 Series A-1, 6.90% due 12/01/2024 (c) 115 305 Series B, 6.25% due 12/01/2031 (d) 308
Portfolio Abbreviations To simplify the listings of MuniYield California Insured Fund, Inc.'s portfolio holdings in the Schedule of Investments, we have abbreviated the names of many of the securities according to the list to the right. AMT Alternative Minimum Tax (subject to) COP Certificates of Participation DRIVERS Derivative Inverse Tax-Exempt Receipts GO General Obligation Bonds HFA Housing Finance Agency RIB Residual Interest Bonds RITR Residual Interest Trust Receipts S/F Single-Family VRDN Variable Rate Demand Notes MuniYield California Insured Fund, Inc. Schedule of Investments as of July 31, 2005 (concluded) (in Thousands)
Face Amount Municipal Bonds Value California $ 12,680 California State Department of Veteran Affairs, Home Purpose Revenue Refunding (concluded) Bonds, Series A, 5.35% due 12/01/2027 (a) $ 13,357 7,500 California State Department of Water Resources, Power Supply Revenue Bonds, Series A, 5.75% due 5/01/2017 8,327 California State, GO: 860 6.25% due 10/01/2019 (g)(h) 865 5,950 Various Purpose, 5.50% due 11/01/2033 6,492 California State, GO, Refunding: 9,935 DRIVERS, AMT, Series 239, 8.744% due 12/01/2032 (a)(i) 9,943 3,000 Series BX, 5.50% due 12/01/2031 (e) 3,060 4,530 California State Public Works Board, Lease Revenue Bonds (Department of Corrections-Ten Administrative Segregation Housing Units), Series A, 5.25% due 3/01/2020 (a) 4,841 16,675 California State Public Works Board, Lease Revenue Refunding Bonds (Department of Corrections), Series B, 5.625% due 11/01/2016 (g) 17,561 2,375 California State University and Colleges, Housing System Revenue Refunding Bonds, 5.90% due 11/01/2005 (b)(h) 2,440 1,000 California State University, Sacramento Foundation, Auxiliary Organization Revenue Bonds, Series A, 5.50% due 10/01/2037 (g) 1,105 4,100 California Statewide Communities Development Authority, COP (Kaiser Permanente), 5.30% due 12/01/2015 (e)(k) 4,277 3,685 California Statewide Communities Development Authority, Health Facility Revenue Bonds (Memorial Health Services), Series A, 6% due 10/01/2023 4,096 8,155 Calleguas-Las Virgenes, California, Public Financing Authority Revenue Bonds (Calleguas Municipal Water District Project), Series A, 5% due 7/01/2033 (g) 8,540 6,000 Capistrano, California, Unified School District, Community Facility District, Special Tax Refunding Bonds, 5% due 9/01/2029 (b) 6,376 Ceres, California, Redevelopment Agency, Tax Allocation Bonds (Ceres Redevelopment Project Area Number 1) (g): 4,600 5.75% due 11/01/2030 5,150 4,000 5% due 11/01/2033 4,222 6,000 Chaffey, California, Union High School District, GO, Series C, 5.375% due 5/01/2023 (e) 6,646 5,910 Chula Vista, California, Elementary School District, COP, 5% due 9/01/2029 (g) 6,200 2,540 Coalinga, California, Redevelopment Agency Tax Allocation Bonds, 5.90% due 9/15/2025 (g) 2,869 2,000 Compton, California, Unified School District, GO (Election of 2002), Series B, 5% due 6/01/2029 (g) 2,112 4,135 Contra Costa, California, Water District, Water Revenue Refunding Bonds, Series L, 5% due 10/01/2032 (e) 4,323 12,180 Contra Costa County, California, COP, Refunding (Merrithew Memorial Hospital Project), 5.375% due 11/01/2017 (g) 13,012 8,500 Corona, California, COP (Clearwater Cogeneration Project), 5% due 9/01/2028 (g) 8,867 2,000 Corona, California, Community Development Agency, Tax Allocation Bonds (Coronado Community Development Project), 5.60% due 9/01/2030 (g) 2,203 6,000 East Bay, California, Municipal Utility District, Water System Revenue Bonds, Sub-Series A, 5% due 6/01/2027 (g) 6,388 1,500 El Monte, California, City School District, GO, Refunding, Series A, 6.25% due 5/01/2010 (e)(h) 1,701 El Monte, California, School District, GO, Series B (b): 3,025 5.375% due 5/01/2022 3,351 2,525 5.375% due 5/01/2027 2,759 10,755 Fremont, California, Unified School District, Alameda County, GO, Series A, 5.50% due 8/01/2026 (b) 11,968 4,295 Fresno, California, Joint Powers Financing Authority, Lease Revenue Bonds, Series A, 5.75% due 6/01/2026 (e) 4,794 Hesperia, California, Community Redevelopment Agency, Tax Allocation Bonds, Series A (m): 5,000 5% due 9/01/2025 5,271 3,840 5% due 9/01/2035 4,007 1,000 Huntington Beach, California, Union High School District, GO (Election of 2004), 5% due 8/01/2029 (e) 1,057 4,390 Glendale, California, Electric Revenue Bonds, 5% due 2/01/2032 (g) 4,591 2,500 La Quinta, California, Financing Authority, Local Agency Revenue Bonds, Series A, 5.25% due 9/01/2024 (a) 2,720 3,800 Las Lomitas, California, School District, GO (Election of 2001), 5.50% due 7/01/2022 (e) 4,264 3,050 Little Lake, California, City School District, GO, Refunding, 5.50% due 7/01/2025 (e) 3,432 10,260 Lodi, California, Unified School District, GO (Election of 2002), 5% due 8/01/2029 (e) 10,792 7,575 Long Beach, California, Harbor Revenue Bonds, RIB, AMT, Series 786-X, 8.15% due 5/15/2024 (i) 8,369 10,000 Los Angeles, California, Community Redevelopment Agency, Community Redevelopment Financing Authority Revenue Bonds (Bunker Hill Project), Series A, 5% due 12/01/2027 (e) 10,510 Los Angeles, California, Department of Airports, Airport Revenue Bonds, AMT (b): 290 (Los Angeles International Airport), Series D, 5.625% due 5/15/2012 294 2,500 (Ontario International Airport), Series A, 6% due 5/15/2017 2,579 Los Angeles, California, Harbor Department Revenue Bonds, AMT (g)(i): 7,365 RIB, Series 349, 9.85% due 11/01/2026 8,058 7,000 Trust Receipts, Class R, Series 7, 9.793% due 11/01/2026 7,659 7,000 Los Angeles, California, Unified School District, GO, Series E, 5% due 7/01/2030 (a) 7,427 3,165 Los Angeles, California, Water and Power Revenue Refunding Bonds (Power System), Series A-A-2, 5.375% due 7/01/2021 (g) 3,424 Los Angeles County, California, Metropolitan Transportation Authority, Sales Tax Revenue Refunding Bonds: 6,500 Proposition A, First Tier Senior-Series A, 5% due 7/01/2035 (a) 6,886 2,000 Proposition C, Second Tier Senior-Series A, 5.25% due 7/01/2030 (b) 2,144 5,830 Los Gatos, California, Joint Union High School District, GO (Election of 1998), Series C, 5.375% due 6/01/2012 (e)(h) 6,552 3,000 Los Rios, California, Community College District, GO (Election of 2002), Series B, 5% due 8/01/2027 (g) 3,169 Metropolitan Water District of Southern California, Waterworks Revenue Bonds: 5,370 Series B-1, 5% due 10/01/2033 (b) 5,642 1,090 Series B-3, 5% due 10/01/2029 (g) 1,153 4,245 Nevada County, California, COP, Refunding, 5.25% due 10/01/2019 (g) 4,595 2,000 New Haven, California, Unified School District, GO, Refunding, 5.75% due 8/01/2020 (e) 2,248 2,000 Oakland, California, State Building Authority, Lease Revenue Bonds (Elihu M. Harris State Office Building), Series A, 5.50% due 4/01/2014 (a) 2,142 1,245 Orange County, California, Airport Revenue Refunding Bonds, AMT, 5.625% due 7/01/2012 (g) 1,323 6,360 Orange County, California, Public Financing Authority, Lease Revenue Refunding Bonds (Juvenile Justice Center Facility), 5.375% due 6/01/2018 (a) 7,031 16,920 Orange County, California, Recovery COP, Refunding, Series A, 6% due 7/01/2026 (g) 17,696 10,000 Oxnard, California, Financing Authority, Wastewater Revenue Bonds (Redwood Trunk Sewer and Headworks Projects), Series A, 5.25% due 6/01/2034 (b) 10,814 9,645 Oxnard, California, Unified High School District, GO, Refunding, Series A, 6.20% due 8/01/2030 (g) 11,382 1,275 Palm Springs, California, Financing Authority, Lease Revenue Refunding Bonds (Convention Center Project), Series A, 5.50% due 11/01/2035 (g) 1,424 4,640 Palmdale, California, Water District Public Facility Corporation, COP, 5% due 10/01/2029 (b) 4,869 10,000 Port of Oakland, California, RITR, AMT, Class R, Series 5, 8.828% due 11/01/2012 (b)(i) 11,668 7,500 Port of Oakland, California, Revenue Bonds, AMT, Series K, 5.75% due 11/01/2029 (b) 8,069 19,035 Port of Oakland, California, Revenue Refunding Bonds, AMT, Series L, 5.375% due 11/01/2027 (b) 20,358 Rio Hondo, California, Community College District, GO, Series A (g): 3,000 5% due 8/01/2026 3,172 3,500 5.25% due 6/01/2029 3,798 3,000 Riverside, California, COP, 5% due 9/01/2028 (a) 3,134 6,000 Riverside, California, Unified School District, GO (Election of 2001), Series A, 5.25% due 2/01/2023 (b) 6,531 4,500 Riverside County, California, Asset Leasing Corporation, Leasehold Revenue Refunding Bonds (Riverside County Hospital Project), Series B, 5.70% due 6/01/2016 (g) 5,082 2,565 Saddleback Valley, California, Unified School District, GO, 5% due 8/01/2029 (e) 2,712 San Benito, California, Health Care District, GO (m): 3,445 5% due 7/01/2029 3,615 4,070 5% due 7/01/2031 4,261 5,000 San Bernardino, California, City Unified School District, GO, Series A, 5% due 8/01/2028 (e) 5,278 730 San Bernardino County, California, S/F Home Mortgage Revenue Refunding Bonds, AMT, Series A-1, 6.25% due 12/01/2031 (d)(f) 736 San Diego County, California, COP (Salk Institute for Bio Studies) (g): 3,570 5.75% due 7/01/2022 3,968 5,200 5.75% due 7/01/2031 5,797 7,350 San Diego County, California, Water Authority, Water Revenue Bonds, COP, Series A, 5% due 5/01/2030 (e) 7,774 3,000 San Francisco, California, City and County Airport Commission, International Airport Revenue Bonds, Second Series, Issue 12-B, 5.625% due 5/01/2021 (b) 3,089 San Francisco, California, City and County Airport Commission, International Airport Revenue Refunding Bonds, Second Series 28B (g): 3,000 5.25% due 5/01/2023 3,242 6,455 5.25% due 5/01/2024 6,969 San Francisco, California, City and County Airport Commission, International Airport, Special Facilities Lease Revenue Bonds (SFO Fuel Company LLC), AMT, Series A (e): 1,000 6.10% due 1/01/2020 1,078 985 6.125% due 1/01/2027 1,062 San Francisco, California, Community College District, GO, Refunding, Series A (b): 1,735 5.375% due 6/15/2019 1,908 1,730 5.375% due 6/15/2020 1,889 1,925 5.375% due 6/15/2021 2,102 4,135 San Jose, California, Airport Revenue Bonds, Series D, 5% due 3/01/2028 (g) 4,329 3,650 San Jose, California, Redevelopment Agency, Tax Allocation Bonds, RIB, AMT, Series 149, 9.05% due 8/01/2027 (g)(i) 4,142 1,000 San Jose, California, Redevelopment Agency, Tax Allocation Refunding Bonds (Merged Area Redevelopment Project), Series A, 5% due 8/01/2024 (b) 1,065 4,250 San Juan, California, Unified School District, GO (Election of 2002), 5% due 8/01/2028 (g) 4,470 1,700 San Mateo County, California, Community College District, COP, 5% due 10/01/2029 (g) 1,784 2,595 Santa Clara, California, Redevelopment Agency, Tax Allocation Bonds (Bayshore North Project), Series A, 5.25% due 6/01/2019 (a) 2,793 5,500 Santa Clara, California, Subordinated Electric Revenue Bonds, Series A, 5% due 7/01/2028 (g) 5,782 1,100 Santa Clara Valley, California, Water District, Water Utility System Revenue, Series A, 5.125% due 6/01/2031 (b) 1,164 Santa Rosa, California, High School District, GO: 3,000 5.375% due 8/01/2026 (e) 3,263 2,500 (Election of 2002), 5% due 8/01/2028 (g) 2,630 6,750 Shasta, California, Joint Powers Financing Authority, Lease Revenue Bonds (County Administration Building Project), Series A, 5% due 4/01/2033 (g) 7,024 5,000 Southern California Public Power Authority, Power Project Revenue Bonds (Magnolia Power Project), Series A-1, 5% due 7/01/2033 (a) 5,243 South Tahoe, California, Joint Powers Financing Authority, Revenue Refunding Bonds (South Tahoe Redevelopment Project Area No. 1), Series A: 1,645 5% due 10/01/2029 (e) 1,726 5,830 5% due 10/01/2034 (e) 6,105 5,455 5% due 10/01/2035 (a) 5,731 1,055 Stockton, California, Public Financing Revenue Refunding Bonds, Series A, 5.875% due 9/02/2016 (e) 1,065 1,000 Sweetwater, California, Union High School District, Public Financing Authority, Special Tax Revenue Bonds, Series A, 5% due 9/01/2024 (e) 1,056 1,500 Tehachapi, California, COP, Refunding (Installment Sale), 5.75% due 11/01/2016 (e) 1,692 6,000 Tracy, California, Community Development Agency, Tax Allocation Refunding Bonds, Series A, 5% due 3/01/2034 (a) 6,242 3,000 Turlock, California, Public Finance Authority, Sewer Revenue Bonds, Series A, 5% due 9/15/2033 (b) 3,151 University of California Revenue Bonds: 8,720 (Multiple Purpose Projects), Series Q, 5% due 9/01/2024 (e) 9,168 6,110 (Multiple Purpose Projects), Series Q, 5% due 9/01/2033 (e) 6,397 4,790 Series O, 5.125% due 9/01/2031 (b) 5,023 6,130 Vacaville, California, Unified School District, GO (Election of 2001), 5.25% due 8/01/2012 (e)(h) 6,854 3,395 Ventura County, California, Community College District, GO, Refunding, Series A, 5% due 8/01/2027 (g) 3,569 2,550 Vista, California, Unified School District, GO, Series B, 5% due 8/01/2028 (b) 2,682 2,185 Walnut, California, Public Financing Authority, Tax Allocation Revenue Bonds (Walnut Improvement Project), 5.375% due 9/01/2021 (a) 2,381 6,690 West Contra Costa, California, Unified School District, GO (Election of 2002), Series B, 5% due 8/01/2032 (e) 6,989 1,700 Whittier, California, Redevelopment Agency, Tax Allocation Bonds (Earthquake Redevelopment), Series A, 5% due 11/01/2035 (m) 1,772 Puerto Rico - 10.0% Puerto Rico Commonwealth, Infrastructure Financing Authority, Special Tax and Capital Appreciation Revenue Bonds, Series A: 20,000 4.56%* due 7/01/2029 (a) 6,713 3,300 4.67%* due 7/01/2037 (a) 741 5,500 4.77%* due 7/01/2043 (a) 907 4,700 4.77%* due 7/01/2045 (b) 703 8,410 Puerto Rico Commonwealth, Public Improvement, GO, 5.75% due 7/01/2010 (g) 9,335 1,000 Puerto Rico Electric Power Authority, Power Revenue Bonds, Series NN, 5.125% due 7/01/2029 1,058 10,000 Puerto Rico Municipal Finance Agency, GO, RIB, Series 225, 8.89% due 8/01/2012 (e)(i) 12,045 20,000 Puerto Rico Public Finance Corporation, Commonwealth Appropriation Revenue Bonds, Series E, 5.75% due 2/01/2007 (h) 20,828 Total Municipal Bonds (Cost - $698,631) - 141.0% 737,203 Shares Held Short-Term Securities 900 CMA California Municipal Money Fund (l) 900 Total Short-Term Securities (Cost - $900) - 0.2% 900 Total Investments (Cost - $699,531**) - 141.2% 738,103 Other Assets Less Liabilities - 2.8% 14,558 Preferred Stock, at Redemption Value - (44.0%) (230,030) ----------- Net Assets Applicable to Common Stock - 100.0% $ 522,631 =========== * Represents a zero coupon bond; the interest rate shown reflects the effective yield at the time of purchase by the Fund. ** The cost and unrealized appreciation (depreciation) of investments as of July 31, 2005, as computed for federal income tax purposes, were as follows: (in Thousands) Aggregate cost $ 699,531 =============== Gross unrealized appreciation $ 38,991 Gross unrealized depreciation (419) --------------- Net unrealized appreciation $ 38,572 =============== (a) AMBAC Insured. (b) FGIC Insured. (c) FHLMC Collateralized. (d) FNMA Collateralized. (e) FSA Insured. (f) GNMA Collateralized. (g) MBIA Insured. (h) Prerefunded. (i) The rate disclosed is that currently in effect. This rate changes periodically and inversely based upon prevailing market rates. (j) Security may have a maturity of more than one year at time of issuance, but has variable rate and demand features that qualify it as a short-term security. The rate disclosed is that currently in effect. This rate changes periodically based upon prevailing market rates. (k) Escrowed to maturity. (l) Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows: (in Thousands) Net Dividend Affiliate Activity Income CMA California Municipal Money Fund 867 $9 (m) XL Capital Insured.
Item 2 - Controls and Procedures 2(a) - The registrant's certifying officers have reasonably designed such disclosure controls and procedures to ensure material information relating to the registrant is made known to us by others particularly during the period in which this report is being prepared. The registrant's certifying officers have determined that the registrant's disclosure controls and procedures are effective based on our evaluation of these controls and procedures as of a date within 90 days prior to the filing date of this report. 2(b) - There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the last fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 3 - Exhibits Certifications - Attached hereto 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. MuniYield California Insured Fund, Inc. By: /s/ Robert C. Doll, Jr. ----------------------- Robert C. Doll, Jr., Chief Executive Officer MuniYield California Insured Fund, Inc. Date: September 23, 2005 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ Robert C. Doll, Jr. ----------------------- Robert C. Doll, Jr., Chief Executive Officer MuniYield California Insured Fund, Inc. Date: September 23, 2005 By: /s/ Donald C. Burke ----------------------- Donald C. Burke, Chief Financial Officer MuniYield California Insured Fund, Inc. Date: September 23, 2005 EX-99.CERT 2 ex99cert.txt SECTION 302 EX-99. CERT CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Robert C. Doll, Jr., Chief Executive Officer of MuniYield California Insured Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of MuniYield California Insured Fund, Inc. (the "Fund"); 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 schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: September 23, 2005 /s/ Robert C. Doll, Jr. ----------------------- Robert C. Doll, Jr., Chief Executive Officer MuniYield California Insured Fund, Inc. EX-99. CERT CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Donald C. Burke, Chief Financial Officer of MuniYield California Insured Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of MuniYield California Insured Fund, Inc. (the "Fund"); 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 schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Fund 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 Fund, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: September 23, 2005 /s/ Donald C. Burke ------------------- Donald C. Burke, Chief Financial Officer MuniYield California Insured Fund, Inc. -----END PRIVACY-ENHANCED MESSAGE-----