Item 1. Schedule of Investments | ||||||||
Item 2. Controls and Procedures | ||||||||
Signatures | ||||||||
EX-99.CERT Section 302 Certification |
Eaton Vance Pennsylvania Municipal Income Trust | as of August 31, 2009 |
Principal |
||||||||
Amount |
||||||||
(000s omitted) | Security | Value | ||||||
Bond Bank 3.2%
|
||||||||
$ | 1,000 |
Delaware Valley Regional Finance Authority, 5.75%, 7/1/32
|
$ | 1,108,620 | ||||
$ | 1,108,620 | |||||||
Cogeneration 3.9%
|
||||||||
$ | 160 |
Carbon County Industrial Development Authority, (Panther Creek
Partners), (AMT), 6.65%, 5/1/10
|
$ | 160,730 | ||||
500 |
Pennsylvania Economic Development Financing Authority,
(Northampton Generating), (AMT), 6.50%, 1/1/13
|
345,470 | ||||||
500 |
Pennsylvania Economic Development Financing Authority,
(Northampton Generating), (AMT), 6.60%, 1/1/19
|
338,135 | ||||||
625 |
Pennsylvania Economic Development Financing Authority, (Resource
Recovery-Colver), (AMT), 5.125%, 12/1/15
|
540,375 | ||||||
$ | 1,384,710 | |||||||
Education 2.9%
|
||||||||
$ | 500 |
Bucks County Industrial Development Authority, (George School),
5.00%, 9/15/39
|
$ | 505,735 | ||||
500 |
Northampton County General Purpose Authority, (Lehigh
University), 5.00%, 11/15/39
|
508,815 | ||||||
$ | 1,014,550 | |||||||
Electric Utilities 2.9%
|
||||||||
$ | 435 |
Pennsylvania Economic Development Financing Authority, (Reliant
Energy, Inc.), (AMT), 6.75%, 12/1/36
|
$ | 426,291 | ||||
600 |
York County Industrial Development Authority, (Public Service
Enterprise Group, Inc.), 5.50%, 9/1/20
|
610,026 | ||||||
$ | 1,036,317 | |||||||
Escrowed/Prerefunded 2.0%
|
||||||||
$ | 600 |
Bucks County Industrial Development Authority, (Pennswood),
Prerefunded to 10/1/12, 6.00%, 10/1/27
|
$ | 689,826 | ||||
$ | 689,826 | |||||||
General Obligations 7.5%
|
||||||||
$ | 500 |
Chester County,
5.00%, 7/15/27(1)
|
$ | 548,125 | ||||
1,000 |
Daniel Boone Area School District, 5.00%, 8/15/32
|
1,023,170 | ||||||
1,000 |
Philadelphia School District, 6.00%, 9/1/38
|
1,069,520 | ||||||
$ | 2,640,815 | |||||||
Health Care-Miscellaneous 0.2%
|
||||||||
$ | 100 |
Puerto Rico Infrastructure Financing Authority, (Mepsi Campus
Project), 6.50%, 10/1/37
|
$ | 83,361 | ||||
$ | 83,361 | |||||||
Hospital 17.1%
|
||||||||
$ | 500 |
Allegheny County Hospital Development Authority, (University of
Pittsburgh Medical Center), 5.50%, 8/15/34
|
$ | 505,330 | ||||
500 |
Dauphin County General Authority, (Pinnacle Health System),
6.00%, 6/1/29
|
511,425 | ||||||
1,250 |
Lehigh County General Purpose Authority, (Lehigh Valley Health
Network), 5.25%, 7/1/32
|
1,163,487 | ||||||
1,500 |
Monroe County Hospital Authority, (Pocono Medical Center),
5.25%, 1/1/43
|
1,324,845 | ||||||
1,000 |
Pennsylvania Higher Educational Facilities Authority,
(University of Pennsylvania Health System),
6.00%, 8/15/26(2)
|
1,104,120 | ||||||
850 |
Pennsylvania Higher Educational Facilities Authority, (UPMC
Health System), 6.00%, 1/15/31
|
869,933 | ||||||
500 |
Washington County Hospital Authority, (Monongahela Hospital),
5.50%, 6/1/17
|
513,005 | ||||||
$ | 5,992,145 | |||||||
Principal |
||||||||
Amount |
||||||||
(000s omitted) | Security | Value | ||||||
Housing 15.7%
|
||||||||
$ | 515 |
Allegheny County Residential Finance Authority, (Single Family
Mortgages), (AMT), 4.95%, 11/1/37
|
$ | 471,678 | ||||
1,170 |
Allegheny County Residential Finance Authority, (Single Family
Mortgages), (AMT), 5.00%, 5/1/35
|
1,141,826 | ||||||
985 |
Pennsylvania Housing Finance Agency, (AMT), 4.70%, 10/1/37
|
862,604 | ||||||
1,200 |
Pennsylvania Housing Finance Agency, (AMT), 4.875%, 4/1/26
|
1,148,856 | ||||||
1,000 |
Pennsylvania Housing Finance Agency, (AMT), 4.90%, 10/1/37
|
925,790 | ||||||
1,000 |
Pennsylvania Housing Finance Agency, (AMT), 5.15%, 10/1/37
|
950,180 | ||||||
$ | 5,500,934 | |||||||
Industrial Development Revenue 10.1%
|
||||||||
$ | 750 |
Montgomery County Industrial Development Authority, (Aqua
Pennsylvania, Inc.), (AMT), 5.25%, 7/1/42
|
$ | 658,807 | ||||
500 |
New Morgan Industrial Development Authority, (Browning-Ferris
Industries, Inc.), (AMT), 6.50%, 4/1/19
|
495,230 | ||||||
250 |
Pennsylvania Economic Development Financing Authority,
(Pennsylvania-American
Water Co.), 6.20%, 4/1/39
|
263,840 | ||||||
1,000 |
Pennsylvania Economic Development Financing Authority,
(Procter & Gamble Paper Products Co.), (AMT),
5.375%, 3/1/31
|
986,830 | ||||||
500 |
Pennsylvania Economic Development Financing Authority, Solid
Waste Disposal, (Waste Management, Inc.), (AMT),
5.10%, 10/1/27
|
450,470 | ||||||
1,550 |
Puerto Rico Port Authority, (American Airlines, Inc.), (AMT),
6.25%, 6/1/26
|
679,706 | ||||||
$ | 3,534,883 | |||||||
Insured-Education 22.7%
|
||||||||
$ | 500 |
Lycoming County Authority, (Pennsylvania College of Technology),
(AGC), 5.50%, 10/1/37
|
$ | 516,545 | ||||
1,675 |
Lycoming County Authority, (Pennsylvania College of Technology),
(AMBAC), 5.25%, 5/1/32
|
1,529,962 | ||||||
1,115 |
Pennsylvania Higher Educational Facilities Authority, (Drexel
University), (NPFG), 5.00%, 5/1/37
|
1,117,152 | ||||||
2,000 |
Pennsylvania Higher Educational Facilities Authority, (State
System Higher Education), (FSA), 5.00%, 6/15/24
|
2,003,200 | ||||||
1,000 |
Pennsylvania Higher Educational Facilities Authority, (Temple
University), (NPFG), 5.00%, 4/1/33
|
1,006,650 | ||||||
500 |
State Public School Building Authority, (Delaware County
Community College), (FSA), 5.00%, 10/1/27
|
530,040 | ||||||
375 |
State Public School Building Authority, (Delaware County
Community College), (FSA), 5.00%, 10/1/29
|
390,926 | ||||||
875 |
State Public School Building Authority, (Delaware County
Community College), (FSA), 5.00%, 10/1/32
|
898,310 | ||||||
$ | 7,992,785 | |||||||
Insured-Electric Utilities 1.6%
|
||||||||
$ | 580 |
Lehigh County Industrial Development Authority, (PPL Electric
Utilities Corp.), (FGIC), (NPFG), 4.75%, 2/15/27
|
$ | 551,557 | ||||
$ | 551,557 | |||||||
Insured-Escrowed/Prerefunded 10.0%
|
||||||||
$ | 1,600 |
Pennsylvania Turnpike Commission, Oil Franchise Tax, (AMBAC),
Escrowed to Maturity, 4.75%, 12/1/27
|
$ | 1,604,128 | ||||
500 |
Puerto Rico Electric Power Authority, (FSA), Prerefunded to
7/1/10, 5.25%, 7/1/29
|
525,460 | ||||||
2,000 |
Westmoreland Municipal Authority, (FGIC), Escrowed to Maturity,
0.00%, 8/15/19
|
1,389,500 | ||||||
$ | 3,519,088 | |||||||
Insured-General Obligations 2.4%
|
||||||||
$ | 500 |
Beaver County, (FSA), 5.55%, 11/15/31
|
$ | 530,720 | ||||
300 |
West Mifflin Area School District, (FSA), 5.125%, 4/1/31
|
309,798 | ||||||
$ | 840,518 | |||||||
Insured-Hospital 15.0%
|
||||||||
$ | 250 |
Allegheny County Hospital Development Authority, (UPMC Health
System), (NPFG), 6.00%, 7/1/24
|
$ | 276,223 | ||||
450 |
Delaware County General Authority, (Catholic Health East),
(AMBAC), 4.875%, 11/15/26
|
409,135 |
Principal |
||||||||
Amount |
||||||||
(000s omitted) | Security | Value | ||||||
$ | 1,440 |
Lehigh County General Purpose Authority, (Lehigh Valley Health
Network), (FSA),
5.00%, 7/1/35(2)
|
$ | 1,401,242 | ||||
1,500 |
Lehigh County General Purpose Authority, (Lehigh Valley Health
Network), (NPFG), 5.25%, 7/1/29
|
1,362,345 | ||||||
2,000 |
Montgomery County Higher Education and Health Authority,
(Abington Memorial Hospital), (AMBAC), 5.00%, 6/1/28
|
1,809,900 | ||||||
$ | 5,258,845 | |||||||
Insured-Lease Revenue/Certificates of
Participation 7.4%
|
||||||||
$ | 500 |
Commonwealth Financing Authority, (AGC), 5.00%, 6/1/31
|
$ | 510,410 | ||||
1,195 |
Philadelphia Authority for Industrial Development, (One Benjamin
Franklin), (FSA), 4.75%, 2/15/27
|
1,219,163 | ||||||
750 |
Puerto Rico Public Finance Corp., (AMBAC), Escrowed to Maturity,
5.50%, 8/1/27
|
866,205 | ||||||
$ | 2,595,778 | |||||||
Insured-Special Tax Revenue 6.4%
|
||||||||
$ | 1,000 |
Pittsburgh and Allegheny County Public Auditorium Authority,
(AMBAC), 5.00%, 2/1/24
|
$ | 965,090 | ||||
9,870 |
Puerto Rico Sales Tax Financing Corp., (AMBAC),
0.00%, 8/1/54
|
542,554 | ||||||
1,690 |
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/44
|
192,592 | ||||||
3,350 |
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45
|
357,613 | ||||||
2,100 |
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/46
|
209,286 | ||||||
$ | 2,267,135 | |||||||
Insured-Transportation 12.5%
|
||||||||
$ | 1,000 |
Pennsylvania Turnpike Commission, (AGC), 5.00%, 6/1/38
|
$ | 1,026,300 | ||||
500 |
Philadelphia Airport Commission, (FSA), (AMT),
5.00%, 6/15/27
|
482,260 | ||||||
1,005 |
Philadelphia Parking Authority, (AMBAC), 5.25%, 2/15/29
|
1,005,533 | ||||||
1,800 |
Puerto Rico Highway and Transportation Authority, (AGC), (CIFG),
5.25%, 7/1/41(2)
|
1,871,217 | ||||||
$ | 4,385,310 | |||||||
Insured-Water and Sewer 7.1%
|
||||||||
$ | 275 |
Allegheny County Sanitation Authority, (BHAC), (NPFG),
5.00%, 12/1/22
|
$ | 293,585 | ||||
585 |
Chester County Industrial Development Authority, (Aqua
Pennsylvania, Inc.), (FGIC), (NPFG), (AMT), 5.00%, 2/1/40
|
525,353 | ||||||
875 |
Delaware County Industrial Development Authority, (Aqua
Pennsylvania, Inc.), (FGIC), (NPFG), (AMT), 5.00%, 11/1/36
|
808,972 | ||||||
500 |
Delaware County Industrial Development Authority, (Water
Facilities), (FGIC), (NPFG), (AMT), 6.00%, 6/1/29
|
502,235 | ||||||
360 |
Philadelphia Water and Wastewater Revenue, (FGIC), (NPFG),
5.00%, 11/1/31
|
359,496 | ||||||
$ | 2,489,641 | |||||||
Senior Living/Life Care 5.4%
|
||||||||
$ | 1,000 |
Cliff House Trust, (AMT),
6.625%, 6/1/27(3)
|
$ | 542,520 | ||||
500 |
Crawford County Hospital Authority, (Wesbury United Methodist
Community), 6.25%, 8/15/29
|
397,380 | ||||||
500 |
Lancaster County Hospital Authority, (Willow Valley Retirement
Communities), 5.875%, 6/1/31
|
500,830 | ||||||
200 |
Montgomery County Industrial Development Authority, (Foulkeways
at Gwynedd), 5.00%, 12/1/24
|
183,172 | ||||||
300 |
Montgomery County Industrial Development Authority, (Foulkeways
at Gwynedd), 5.00%, 12/1/30
|
258,405 | ||||||
$ | 1,882,307 | |||||||
Special Tax Revenue 0.3%
|
||||||||
$ | 110 |
Virgin Islands Public Finance Authority, 6.75%, 10/1/37
|
$ | 112,296 | ||||
$ | 112,296 | |||||||
Transportation 4.2%
|
||||||||
$ | 460 |
Erie Municipal Airport Authority, (AMT), 5.875%, 7/1/16
|
$ | 413,379 | ||||
270 |
Pennsylvania Economic Development Financing Authority, (Amtrak),
(AMT), 6.25%, 11/1/31
|
248,270 | ||||||
750 |
Pennsylvania Turnpike Commission, 5.625%, 6/1/29
|
806,483 | ||||||
$ | 1,468,132 | |||||||
Principal |
||||||||
Amount |
||||||||
(000s omitted) | Security | Value | ||||||
Water and Sewer 2.2%
|
||||||||
$ | 750 |
Harrisburg Water Authority, 5.25%, 7/15/31
|
$ | 779,603 | ||||
$ | 779,603 | |||||||
Total Tax-Exempt Investments 162.7%
(identified cost $59,320,724) |
$ | 57,129,156 | ||||||
Auction Preferred Shares Plus Cumulative Unpaid
Dividends (60.3)%
|
$ | (21,175,000 | ) | |||||
Other Assets, Less Liabilities (2.4)%
|
$ | (830,596 | ) | |||||
Net Assets Applicable to Common Shares 100.0%
|
$ | 35,123,560 | ||||||
AGC
|
- | Assured Guaranty Corp. | ||||
AMBAC
|
- | AMBAC Financial Group, Inc. | ||||
AMT
|
- | Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax. | ||||
BHAC
|
- | Berkshire Hathaway Assurance Corp. | ||||
CIFG
|
- | CIFG Assurance North America, Inc. | ||||
FGIC
|
- | Financial Guaranty Insurance Company | ||||
FSA
|
- | Financial Security Assurance, Inc. | ||||
NPFG
|
- | National Public Finance Guaranty Corp. | ||||
The Trust invests primarily in debt securities issued by Pennsylvania municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at August 31, 2009, 52.3% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 0.5% to 15.3% of total investments. | ||||||
(1)
|
Security (or a portion thereof) has been pledged to cover margin requirements on open financial futures contracts. | |||||
(2)
|
Security represents the underlying municipal bond of an inverse floater. | |||||
(3)
|
Security is in default and is making only partial interest payments. |
Expiration |
Aggregate |
Net Unrealized |
||||||||||||||
Date | Contracts | Position | Cost | Value | Depreciation | |||||||||||
12/09
|
50 U.S. Treasury Bond | Short | $ | (5,970,919 | ) | $ | (5,987,500 | ) | $ | (16,581 | ) |
Annual |
Floating |
|||||||||||||||
Notional |
Fixed Rate |
Rate |
Effective Date/ |
Net Unrealized |
||||||||||||
Counterparty | Amount | Paid By Trust | Paid To Trust | Termination Date | Depreciation | |||||||||||
JPMorgan Chase Co.
|
$ | 912,500 | 4.743 | % |
3-month USD- LIBOR-BBA |
September 14, 2009 / September 14, 2039 |
$ | (103,270 | ) |
Aggregate cost
|
$ | 56,962,938 | ||
Gross unrealized appreciation
|
$ | 1,301,128 | ||
Gross unrealized depreciation
|
(3,504,910 | ) | ||
Net unrealized depreciation
|
$ | (2,203,782 | ) | |
| Level 1 quoted prices in active markets for identical investments | |
| Level 2 other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) | |
| Level 3 significant unobservable inputs (including a funds own assumptions in determining the fair value of investments) |
Quoted Prices in |
||||||||||||||||
Active Markets for |
Significant Other |
Significant |
||||||||||||||
Identical Assets | Observable Inputs | Unobservable Inputs | ||||||||||||||
Asset Description
|
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||
Tax-Exempt Investments
|
$ | | $ | 57,129,156 | $ | | $ | 57,129,156 | ||||||||
Total Investments
|
$ | | $ | 57,129,156 | $ | | $ | 57,129,156 | ||||||||
Liability Description
|
||||||||||||||||
Futures Contracts
|
$ | (16,581 | ) | $ | | $ | | $ | (16,581 | ) | ||||||
Interest Rate Swaps
|
| (103,270 | ) | | (103,270 | ) | ||||||||||
Total
|
$ | (16,581 | ) | $ | (103,270 | ) | $ | | $ | (119,851 | ) | |||||
By:
|
/s/ Cynthia J. Clemson | |||
Cynthia J. Clemson | ||||
President | ||||
Date:
|
October 26, 2009 |
By:
|
/s/ Cynthia J. Clemson | |||
Cynthia J. Clemson | ||||
President | ||||
Date:
|
October 26, 2009 | |||
By:
|
/s/ Barbara E. Campbell | |||
Barbara E. Campbell | ||||
Treasurer | ||||
Date:
|
October 26, 2009 |