Item 1. Schedule of Investments | ||||||||
Item 2. Controls and Procedures | ||||||||
Signatures | ||||||||
EX-99.CERT Section 302 Certification |
Eaton Vance Massachusetts Municipal Income Trust | as of February 28, 2010 |
Principal |
||||||||
Amount |
||||||||
(000’s omitted) | Security | Value | ||||||
Education — 36.0%
|
||||||||
$ | 2,440 |
Massachusetts Development Finance Agency, (Boston University),
5.45%, 5/15/59
|
$ | 2,526,010 | ||||
600 |
Massachusetts Development Finance Agency, (Middlesex School),
5.00%, 9/1/33
|
604,800 | ||||||
1,240 |
Massachusetts Development Finance Agency, (Milton Academy),
5.00%, 9/1/35
|
1,290,418 | ||||||
1,000 |
Massachusetts Development Finance Agency, (New England
Conservatory of Music), 5.25%, 7/1/38
|
926,460 | ||||||
1,500 |
Massachusetts Development Finance Agency, (Wheeler School),
6.50%, 12/1/29
|
1,507,455 | ||||||
1,500 |
Massachusetts Health and Educational Facilities Authority,
(Berklee College of Music), 5.00%, 10/1/32
|
1,525,530 | ||||||
1,890 |
Massachusetts Health and Educational Facilities Authority,
(Boston College), 5.50%, 6/1/35
|
2,198,637 | ||||||
1,500 |
Massachusetts Health and Educational Facilities Authority,
(Harvard University),
5.00%, 10/1/38(1)
|
1,583,790 | ||||||
465 |
Massachusetts Health and Educational Facilities Authority,
(Massachusetts Institute of Technology), 5.00%, 7/1/38
|
490,236 | ||||||
1,000 |
Massachusetts Health and Educational Facilities Authority,
(Tufts University), 5.375%, 8/15/38
|
1,079,670 | ||||||
$ | 13,733,006 | |||||||
Electric Utilities — 7.2%
|
||||||||
$ | 1,000 |
Massachusetts Development Finance Agency, (Devens Electric
System), 6.00%, 12/1/30
|
$ | 1,025,690 | ||||
1,870 |
Massachusetts Development Finance Agency, (Dominion Energy
Brayton Point), (AMT), 5.00%, 2/1/36
|
1,712,640 | ||||||
$ | 2,738,330 | |||||||
Escrowed/Prerefunded — 4.5%
|
||||||||
$ | 400 |
Massachusetts Development Finance Agency, (Western New England
College), Prefunded to 12/1/12, 6.125%, 12/1/32
|
$ | 461,516 | ||||
235 |
Massachusetts Health and Educational Facilities Authority,
(Healthcare System-Covenant Health), Prerefunded to 1/1/12,
6.00%, 7/1/31
|
260,669 | ||||||
940 |
Massachusetts Health and Educational Facilities Authority,
(Winchester Hospital), Prerefunded to 7/1/10, 6.75%, 7/1/30
|
970,559 | ||||||
$ | 1,692,744 | |||||||
General Obligations — 2.1%
|
||||||||
$ | 750 |
Newton, 5.00%, 4/1/36
|
$ | 801,675 | ||||
$ | 801,675 | |||||||
Hospital — 25.5%
|
||||||||
$ | 1,000 |
Massachusetts Development Finance Agency, (Biomedical Research
Corp.), 6.25%, 8/1/20
|
$ | 1,018,110 | ||||
1,000 |
Massachusetts Health and Educational Facilities Authority,
(Baystate Medical Center, Inc.), 5.75%, 7/1/36
|
1,045,510 | ||||||
400 |
Massachusetts Health and Educational Facilities Authority,
(Berkshire Health System), 6.25%, 10/1/31
|
404,708 | ||||||
105 |
Massachusetts Health and Educational Facilities Authority,
(Central New England Health Systems), 6.30%, 8/1/18
|
105,063 | ||||||
500 |
Massachusetts Health and Educational Facilities Authority,
(Children’s Hospital), 5.25%, 12/1/39
|
516,155 | ||||||
1,135 |
Massachusetts Health and Educational Facilities Authority,
(Dana-Farber Cancer Institute), 5.00%, 12/1/37
|
1,142,117 | ||||||
885 |
Massachusetts Health and Educational Facilities Authority,
(Healthcare System-Covenant Health), 6.00%, 7/1/31
|
902,319 | ||||||
755 |
Massachusetts Health and Educational Facilities Authority,
(Jordan Hospital), 6.75%, 10/1/33
|
689,232 | ||||||
2,000 |
Massachusetts Health and Educational Facilities Authority,
(Partners Healthcare System),
5.00%, 7/1/32(1)
|
2,017,010 | ||||||
675 |
Massachusetts Health and Educational Facilities Authority,
(South Shore Hospital), 5.75%, 7/1/29
|
675,979 | ||||||
1,255 |
Massachusetts Health and Educational Facilities Authority,
(Southcoast Health System), 5.00%, 7/1/39
|
1,211,853 | ||||||
$ | 9,728,056 | |||||||
Principal |
||||||||
Amount |
||||||||
(000’s omitted) | Security | Value | ||||||
Housing — 14.1%
|
||||||||
$ | 2,100 |
Massachusetts Housing Finance Agency, (AMT), 4.75%, 12/1/48
|
$ | 1,876,623 | ||||
1,000 |
Massachusetts Housing Finance Agency, (AMT), 4.85%, 6/1/40
|
935,590 | ||||||
650 |
Massachusetts Housing Finance Agency, (AMT), 5.00%, 12/1/28
|
639,073 | ||||||
2,000 |
Massachusetts Housing Finance Agency, (AMT), 5.10%, 12/1/37
|
1,930,760 | ||||||
$ | 5,382,046 | |||||||
Industrial Development Revenue — 1.8%
|
||||||||
$ | 695 |
Massachusetts Industrial Finance Agency, (American Hingham Water
Co.), (AMT), 6.60%, 12/1/15
|
$ | 695,688 | ||||
$ | 695,688 | |||||||
Insured-Education — 11.2%
|
||||||||
$ | 1,000 |
Massachusetts College Building Authority, (XLCA),
5.50%, 5/1/39
|
$ | 1,113,950 | ||||
1,365 |
Massachusetts Development Finance Agency, (College of the Holy
Cross), (AMBAC),
5.25%, 9/1/32(1)
|
1,533,919 | ||||||
1,600 |
Massachusetts Development Finance Agency, (Franklin W. Olin
College), (XLCA), 5.25%, 7/1/33
|
1,616,992 | ||||||
$ | 4,264,861 | |||||||
Insured-Electric Utilities — 1.5%
|
||||||||
$ | 570 |
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/29
|
$ | 582,517 | ||||
$ | 582,517 | |||||||
Insured-General Obligations — 8.6%
|
||||||||
$ | 1,000 |
Massachusetts, (AMBAC), 5.50%, 8/1/30
|
$ | 1,183,190 | ||||
2,185 |
Milford, (AGM), 4.25%, 12/15/46
|
2,093,907 | ||||||
$ | 3,277,097 | |||||||
Insured-Hospital — 2.1%
|
||||||||
$ | 400 |
Massachusetts Health and Educational Facilities Authority, (Cape
Cod Healthcare, Inc.), (AGC), 5.00%, 11/15/25
|
$ | 403,344 | ||||
220 |
Massachusetts Health and Educational Facilities Authority, (Cape
Cod Healthcare, Inc.), (AGC), 5.00%, 11/15/31
|
217,970 | ||||||
190 |
Massachusetts Health and Educational Facilities Authority, (Cape
Cod Healthcare, Inc.), (AGC), 5.125%, 11/15/35
|
187,446 | ||||||
$ | 808,760 | |||||||
Insured-Other Revenue — 3.4%
|
||||||||
$ | 1,225 |
Massachusetts Development Finance Agency, (WGBH Educational
Foundation), (AMBAC), 5.75%, 1/1/42
|
$ | 1,307,283 | ||||
$ | 1,307,283 | |||||||
Insured-Special Tax Revenue — 14.0%
|
||||||||
$ | 1,450 |
Martha’s Vineyard Land Bank, (AMBAC), 5.00%, 5/1/32
|
$ | 1,468,604 | ||||
1,000 |
Massachusetts, Special Obligation, Dedicated Tax Revenue,
(FGIC), (NPFG), 5.50%, 1/1/29
|
1,145,430 | ||||||
1,350 |
Massachusetts School Building Authority, Dedicated Sales Tax
Revenue, (AMBAC), 5.00%, 8/15/37
|
1,402,380 | ||||||
7,595 |
Puerto Rico Sales Tax Financing Corp., (AMBAC),
0.00%, 8/1/54
|
438,307 | ||||||
2,525 |
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/44
|
312,014 | ||||||
3,005 |
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45
|
345,275 | ||||||
1,905 |
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/46
|
204,768 | ||||||
$ | 5,316,778 | |||||||
Insured-Student Loan — 5.8%
|
||||||||
$ | 485 |
Massachusetts Educational Financing Authority, (AGC), (AMT),
6.35%, 1/1/30
|
$ | 496,368 | ||||
1,985 |
Massachusetts Educational Financing Authority, (AMBAC), (AMT),
4.70%, 1/1/33
|
1,712,599 | ||||||
$ | 2,208,967 | |||||||
Insured-Transportation — 5.5%
|
||||||||
$ | 410 |
Massachusetts Port Authority, (Bosfuel Project), (FGIC), (NPFG),
(AMT), 5.00%, 7/1/32
|
$ | 391,390 | ||||
1,820 |
Massachusetts Port Authority, (Bosfuel Project), (FGIC), (NPFG),
(AMT), 5.00%, 7/1/38
|
1,689,961 | ||||||
$ | 2,081,351 | |||||||
Principal |
||||||||
Amount |
||||||||
(000’s omitted) | Security | Value | ||||||
Nursing Home — 1.4%
|
||||||||
$ | 550 |
Massachusetts Health and Educational Facilities Authority,
(Christopher House), 6.875%, 1/1/29
|
$ | 536,069 | ||||
$ | 536,069 | |||||||
Other Revenue — 1.4%
|
||||||||
$ | 500 |
Massachusetts Health and Educational Facilities Authority,
(Isabella Stewart Gardner Museum), 5.00%, 5/1/22
|
$ | 541,150 | ||||
$ | 541,150 | |||||||
Senior Living/Life Care — 5.2%
|
||||||||
$ | 250 |
Massachusetts Development Finance Agency, (Berkshire Retirement
Community, Inc.), 5.15%, 7/1/31
|
$ | 202,905 | ||||
1,500 |
Massachusetts Development Finance Agency, (Berkshire Retirement
Community, Inc.), 5.625%, 7/1/29
|
1,323,480 | ||||||
140 |
Massachusetts Development Finance Agency, (First Mortgage VOA
Concord), 5.125%, 11/1/27
|
108,739 | ||||||
475 |
Massachusetts Development Finance Agency, (First Mortgage VOA
Concord), 5.20%, 11/1/41
|
336,500 | ||||||
$ | 1,971,624 | |||||||
Special Tax Revenue — 6.7%
|
||||||||
$ | 1,665 |
Massachusetts Bay Transportation Authority, Sales Tax Revenue,
0.00%, 7/1/31
|
$ | 574,891 | ||||
5,195 |
Massachusetts Bay Transportation Authority, Sales Tax Revenue,
0.00%, 7/1/34
|
1,491,744 | ||||||
125 |
Virgin Islands Public Finance Authority, 5.00%, 10/1/39
|
112,715 | ||||||
335 |
Virgin Islands Public Finance Authority, 6.75%, 10/1/37
|
363,643 | ||||||
$ | 2,542,993 | |||||||
Water and Sewer — 5.0%
|
||||||||
$ | 215 |
Massachusetts Water Pollution Abatement Trust,
5.375%, 8/1/27
|
$ | 216,666 | ||||
2,000 |
Massachusetts Water Resources Authority, 4.00%, 8/1/46
|
1,695,280 | ||||||
$ | 1,911,946 | |||||||
Total Tax-Exempt Investments — 163.0%
(identified cost $62,467,058) |
$ | 62,122,941 | ||||||
Auction Preferred Shares Plus Cumulative Unpaid
Dividends — (52.6)%
|
$ | (20,051,155 | ) | |||||
Other Assets, Less Liabilities — (10.4)%
|
$ | (3,963,998 | ) | |||||
Net Assets Applicable to Common
Shares — 100.0%
|
$ | 38,107,788 | ||||||
The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares. | ||||||
AGC
|
- | Assured Guaranty Corp. | ||||
AGM
|
- | Assured Guaranty Municipal 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. | ||||
FGIC
|
- | Financial Guaranty Insurance Company | ||||
NPFG
|
- | National Public Finance Guaranty Corp. | ||||
XLCA
|
- | XL Capital Assurance, Inc. | ||||
The Trust invests primarily in debt securities issued by Massachusetts 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 February 28, 2010, 31.9% 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 2.1% to 14.6% of total investments. | ||||||
(1)
|
Security represents the underlying municipal bond of an inverse floater. |
Annual |
Effective Date/ |
Net Unrealized |
||||||||||||||
Notional |
Fixed Rate |
Floating Rate |
Termination |
Appreciation |
||||||||||||
Counterparty | Amount | Paid By Trust | Paid To Trust | Date | (Depreciation) | |||||||||||
JPMorgan Chase Co.
|
$ | 787,500 | 4.097 | % |
3-month USD- LIBOR-BBA |
March 15, 2010 / March 15, 2040 |
$ | 43,903 | ||||||||
Merrill Lynch Capital Services, Inc.
|
1,250,000 | 4.665 |
3-month USD- LIBOR-BBA |
May 24, 2010 / May 24, 2040 |
(40,419 | ) | ||||||||||
$ | 3,484 | |||||||||||||||
Aggregate cost
|
$ | 58,442,806 | ||
Gross unrealized appreciation
|
$ | 1,879,417 | ||
Gross unrealized depreciation
|
(2,079,282 | ) | ||
Net unrealized depreciation
|
$ | (199,865 | ) | |
• | 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 fund’s 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
|
$ | — | $ | 62,122,941 | $ | — | $ | 62,122,941 | ||||||||
Total Investments
|
$ | — | $ | 62,122,941 | $ | — | $ | 62,122,941 | ||||||||
Interest Rate Swaps
|
$ | — | $ | 43,903 | $ | — | $ | 43,903 | ||||||||
Total
|
$ | — | $ | 62,166,844 | $ | — | $ | 62,166,844 | ||||||||
Liability Description | ||||||||||||||||
Interest Rate Swaps
|
$ | — | $ | (40,419 | ) | $ | — | $ | (40,419 | ) | ||||||
Total
|
$ | — | $ | (40,419 | ) | $ | — | $ | (40,419 | ) | ||||||
By:
|
/s/ Thomas M. Metzold | |||
Thomas M. Metzold | ||||
President | ||||
Date:
|
April 26, 2010 |
By:
|
/s/ Thomas M. Metzold | |||
Thomas M. Metzold | ||||
President | ||||
Date:
|
April 26, 2010 | |||
By:
|
/s/ Barbara E. Campbell | |||
Barbara E. Campbell | ||||
Treasurer | ||||
Date:
|
April 26, 2010 |