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 811-10337

 

Name of Fund: BlackRock New York Municipal Income Trust (BNY)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock New York Municipal Income Trust, 55 East 52nd Street, New York, NY 10055

 

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

 

Date of fiscal year end: 07/31/2011

 

Date of reporting period: 10/31/2010

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments October 31, 2010 (Unaudited)

BlackRock New York Municipal Income Trust (BNY)
(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York — 123.1%

 

 

 

 

 

 

 

Corporate — 17.9%

 

 

 

 

 

 

 

Chautauqua County Industrial
Development Agency, RB, Nrg Dunkirk
Power Project, 5.88%, 4/01/42

 

$

1,000

 

$

1,045,860

 

Essex County Industrial Development
Agency New York, RB, International
Paper Co. Project, Series A, AMT,
6.63%, 9/01/32

 

 

550

 

 

586,036

 

New York City Industrial Development
Agency, RB:

 

 

 

 

 

 

 

American Airlines Inc., JFK
International Airport, AMT, 7.63%,
8/01/25 (a)

 

 

3,200

 

 

3,376,512

 

American Airlines Inc., JFK
International Airport, AMT, 7.75%,
8/01/31 (a)

 

 

4,000

 

 

4,244,240

 

Liberty-IAC/InteractiveCorp, 5.00%,
9/01/35

 

 

1,000

 

 

921,340

 

New York Liberty Development Corp.,
RB, Goldman Sachs Headquarters,
5.25%, 10/01/35

 

 

7,850

 

 

8,203,250

 

Port Authority of New York & New Jersey,
RB, Continental Airlines Inc. and
Eastern Air Lines Inc. Project,
LaGuardia, AMT, 9.13%, 12/01/15

 

 

7,820

 

 

7,937,300

 

Suffolk County Industrial Development
Agency New York, RB, KeySpan, Port
Jefferson, AMT, 5.25%, 6/01/27

 

 

7,000

 

 

7,048,440

 

 

 

 

 

 

 

 

 

 

 

 

 

33,362,978

 

County/City/Special District/School District — 23.8%

 

 

 

 

 

 

 

Amherst Development Corp., RB,
University at Buffalo Foundation
Faculty-Student Housing Corp., Series
A (AGM), 4.63%, 10/01/40

 

 

1,100

 

 

1,106,930

 

Brooklyn Arena Local Development
Corp., RB, Barclays Center Project,
6.38%, 7/15/43

 

 

500

 

 

543,055

 

City of New York New York, GO:

 

 

 

 

 

 

 

Series A-1, 4.75%, 8/15/25

 

 

750

 

 

803,910

 

Series C, 5.38%, 3/15/12 (b)

 

 

5,000

 

 

5,343,000

 

Series D, 5.38%, 6/01/12 (b)

 

 

1,200

 

 

1,293,720

 

Series D, 5.38%, 6/01/32

 

 

4,000

 

 

4,199,160

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (continued)

 

 

 

 

 

 

 

County/City/Special District/School
District (continued)

 

 

 

 

 

 

 

City of New York New York, GO
(concluded):

 

 

 

 

 

 

 

Sub-Series G-1, 6.25%, 12/15/31

 

$

500

 

$

589,155

 

Sub-Series I-1, 5.38%, 4/01/36

 

 

1,750

 

 

1,919,260

 

Hudson Yards Infrastructure Corp., RB,
Series A:

 

 

 

 

 

 

 

5.00%, 2/15/47

 

 

3,675

 

 

3,681,799

 

(NPFGC), 4.50%, 2/15/47

 

 

970

 

 

926,398

 

New York City Industrial Development
Agency, RB:

 

 

 

 

 

 

 

CAB, Yankee Stadium, PILOT (AGC),
6.02%, 3/01/42 (c)

 

 

2,210

 

 

376,253

 

Marymount School of New York
Project (ACA), 5.13%, 9/01/21

 

 

750

 

 

771,615

 

Marymount School of New York
Project (ACA), 5.25%, 9/01/31

 

 

500

 

 

505,210

 

Queens Baseball Stadium, PILOT
(AGC), 6.38%, 1/01/39

 

 

150

 

 

167,738

 

Queens Baseball Stadium, PILOT
(AMBAC), 5.00%, 1/01/36

 

 

4,900

 

 

4,536,420

 

Queens Baseball Stadium, PILOT
(AMBAC), 5.00%, 1/01/39

 

 

500

 

 

459,015

 

Royal Charter, New York
Presbyterian (AGM), 5.25%,
12/15/32

 

 

1,550

 

 

1,634,769

 

New York City Transitional Finance
Authority, RB:

 

 

 

 

 

 

 

Fiscal 2009, Series S-3, 5.25%,
1/15/39

 

 

650

 

 

703,515

 

Series S-2 (NPFGC), 4.25%,
1/15/34

 

 

1,700

 

 

1,679,141

 

New York Convention Center
Development Corp., RB, Hotel Unit
Fee Secured (AMBAC), 5.00%,
11/15/44

 

 

8,410

 

 

8,484,344

 

New York Liberty Development Corp.,
Refunding RB, Second Priority, Bank
of America Tower at One Bryant Park
Project:

 

 

 

 

 

 

 

5.63%, 7/15/47

 

 

1,000

 

 

1,041,850

 

6.38%, 7/15/49

 

 

1,200

 

 

1,285,716

 

 

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

 

ACA

ACA Financial Guaranty Corp.

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

BHAC

Berkshire Hathaway Assurance Corp.

CAB

Capital Appreciation Bonds

CIFG

CDC IXIS Financial Guaranty

ERB

Education Revenue Bonds

FHA

Federal Housing Administration

GO

General Obligation Bonds

HFA

Housing Finance Agency

LRB

Lease Revenue Bonds

MRB

Mortgage Revenue Bonds

NPFGC

National Public Finance Guarantee Corp.

PILOT

Payment in Lieu of Taxes

RB

Revenue Bonds

SONYMA

State of New York Mortgage Agency

TE

Tax Exempt


 

 

 

 

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST

OCTOBER 31, 2010

1

 

 

 

 

Schedule of Investments (continued)

BlackRock New York Municipal Income Trust (BNY)
 (Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (continued)

 

 

 

 

 

 

 

County/City/Special District/School
District (concluded)

 

 

 

 

 

 

 

New York State Dormitory Authority, RB:

 

 

 

 

 

 

 

Interagency Council Pooled, Series
A-1, 4.25%, 7/01/25

 

$

1,000

 

$

1,015,030

 

State University Dormitory Facilities,
Series A, 5.00%, 7/01/39

 

 

750

 

 

795,427

 

New York State Dormitory Authority,
Refunding RB, School Districts
Financing Program, Series A (AGM),
5.00%, 10/01/35

 

 

395

 

 

415,279

 

 

 

 

 

 

 

 

 

 

 

 

 

44,277,709

 

Education — 23.1%

 

 

 

 

 

 

 

Albany Industrial Development Agency,
RB, New Covenant Charter School
Project, Series A (d)(e):

 

 

 

 

 

 

 

7.00%, 5/01/25

 

 

910

 

 

363,964

 

7.00%, 5/01/35

 

 

590

 

 

235,976

 

City of Troy New York, Refunding RB,
Rensselaer Polytechnic, Series A,
5.13%, 9/01/40

 

 

875

 

 

905,362

 

Dutchess County Industrial
Development Agency New York,
Refunding RB, Bard College Civic
Facility, Series A-2, 4.50%, 8/01/36

 

 

7,000

 

 

6,382,390

 

Madison County Industrial Development
Agency New York, RB:

 

 

 

 

 

 

 

Colgate University Project, Series B,
5.00%, 7/01/33

 

 

2,000

 

 

2,046,020

 

Commons II LLC, Student Housing,
Series A (CIFG), 5.00%, 6/01/33

 

 

275

 

 

276,713

 

Nassau County Industrial Development
Agency, Refunding RB, New York
Institute of Technology Project, Series
A, 4.75%, 3/01/26

 

 

1,165

 

 

1,184,269

 

New York City Industrial Development
Agency, Refunding RB, Polytechnic
University Project (ACA), 5.25%,
11/01/37

 

 

1,540

 

 

1,524,646

 

New York State Dormitory Authority, RB:

 

 

 

 

 

 

 

5.83%, 7/01/39 (f)

 

 

650

 

 

571,623

 

Mount Sinai School of Medicine,
5.13%, 7/01/39

 

 

2,350

 

 

2,388,493

 

New School University (NPFGC),
5.00%, 7/01/41

 

 

9,000

 

 

9,025,380

 

New York University, Series 2
(AMBAC), 5.00%, 7/01/41

 

 

5,000

 

 

5,078,600

 

Rochester Institute of Technology,
Series A, 6.00%, 7/01/33

 

 

1,000

 

 

1,114,180

 

University of Rochester, Series A,
5.13%, 7/01/39

 

 

850

 

 

903,431

 

Vassar College, 5.00%, 7/01/49

 

 

825

 

 

872,603

 

New York State Dormitory Authority,
Refunding RB:

 

 

 

 

 

 

 

Brooklyn Law School, 5.75%,
7/01/33

 

 

475

 

 

520,966

 

Teachers College, 5.50%, 3/01/39

 

 

450

 

 

482,850

 

Yeshiva University, 5.00%, 9/01/34

 

 

275

 

 

289,842

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (continued)

 

 

 

 

 

 

 

Education (concluded)

 

 

 

 

 

 

 

Suffolk County Industrial Development
Agency, Refunding RB, New York
Institute of Technology Project, 5.00%,
3/01/26

 

$

1,000

 

$

1,016,690

 

Trust for Cultural Resources, RB,
Series A:

 

 

 

 

 

 

 

Carnegie Hall, 4.75%, 12/01/39

 

 

2,250

 

 

2,293,357

 

Juilliard School, 5.00%, 1/01/39

 

 

2,100

 

 

2,261,742

 

Westchester County Industrial
Development Agency New York, RB,
Windward School Civic Facility
(Radian), 5.25%, 10/01/31

 

 

2,500

 

 

2,505,450

 

Yonkers Industrial Development Agency
New York, RB, Sarah Lawrence
College Project, Series A, 6.00%,
6/01/41

 

 

625

 

 

665,038

 

 

 

 

 

 

 

 

 

 

 

 

 

42,909,585

 

Health — 6.8%

 

 

 

 

 

 

 

Genesee County Industrial Development
Agency New York, Refunding RB,
United Memorial Medical Center
Project, 5.00%,12/01/27

 

 

500

 

 

439,875

 

Monroe County Industrial Development
Corp., RB, Unity Hospital of Rochester
Project (FHA), 5.50%, 8/15/40 (g)

 

 

1,050

 

 

1,125,831

 

New York State Dormitory Authority, RB:

 

 

 

 

 

 

 

Hudson Valley Hospital (BHAC),
5.00%, 8/15/36

 

 

750

 

 

794,648

 

New York State Association for
Retarded Children, Inc., Series A,
6.00%, 7/01/32

 

 

575

 

 

629,838

 

New York State Association for
Retarded Children, Inc., Series B
(AMBAC), 6.00%, 7/01/32

 

 

200

 

 

217,734

 

New York University Hospital
Center, Series B, 5.63%, 7/01/37

 

 

530

 

 

549,467

 

North Shore-Long Island Jewish
Health System, 5.50%, 5/01/13 (b)

 

 

2,000

 

 

2,242,440

 

North Shore-Long Island Jewish
Health System, Series A, 5.50%,
5/01/37

 

 

1,775

 

 

1,854,626

 

New York State Dormitory Authority,
Refunding RB:

 

 

 

 

 

 

 

Mount Sinai Hospital, Series A,
5.00%, 7/01/26

 

 

1,385

 

 

1,455,940

 

North Shore-Long Island Jewish
Health System, Series E, 5.50%,
5/01/33

 

 

1,100

 

 

1,150,127

 

Suffolk County Industrial Development
Agency New York, Refunding RB,
Jeffersons Ferry Project, 5.00%,
11/01/28

 

 

1,175

 

 

1,149,079

 

 

 

 

2

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST

OCTOBER 31, 2010


 

 

 

 

Schedule of Investments (continued)

BlackRock New York Municipal Income Trust (BNY)
 (Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (continued)

 

 

 

 

 

 

 

Health (concluded)

 

 

 

 

 

 

 

Westchester County Industrial
Development Agency New York, MRB,
Kendal on Hudson Project, Series A,
6.38%, 1/01/24

 

$

1,000

 

$

1,001,730

 

 

 

 

 

 

 

 

 

 

 

 

 

12,611,335

 

Housing — 4.8%

 

 

 

 

 

 

 

New York Mortgage Agency, Refunding
RB, AMT:

 

 

 

 

 

 

 

Homeowner Mortgage, Series 97,
5.50%, 4/01/31

 

 

1,985

 

 

1,990,499

 

Series 101, 5.40%, 4/01/32

 

 

4,530

 

 

4,552,831

 

New York State HFA, RB, Highland
Avenue Senior Apartments, Series A,
AMT (SONYMA), 5.00%, 2/15/39

 

 

1,500

 

 

1,443,015

 

Yonkers Economic Development Corp.,
Refunding RB, Riverview II (Freddie
Mac), 4.50%, 5/01/25

 

 

1,000

 

 

1,024,100

 

 

 

 

 

 

 

 

 

 

 

 

 

9,010,445

 

State — 4.5%

 

 

 

 

 

 

 

New York State Dormitory Authority,
ERB, Series B, 5.75%, 3/15/36

 

 

600

 

 

692,556

 

New York State Dormitory Authority,
LRB, Municipal Health Facilities, Sub-
Series 2-4, 4.75%, 1/15/30

 

 

2,100

 

 

2,140,971

 

New York State Dormitory Authority, RB,
Mental Health Services Facilities
Improvement, Series B (AMBAC),
5.00%, 2/15/35

 

 

4,855

 

 

4,992,396

 

State of New York, GO, Series A, 5.00%,
2/15/39

 

 

475

 

 

506,151

 

 

 

 

 

 

 

 

 

 

 

 

 

8,332,074

 

Tobacco — 8.3%

 

 

 

 

 

 

 

New York Counties Tobacco Trust III, RB,
Tobacco Settlement Pass-Thru, Turbo,
6.00%, 6/01/43

 

 

6,700

 

 

6,278,235

 

Rensselaer Tobacco Asset Securitization
Corp., RB, Asset-Backed, Series A,
5.75%, 6/01/43

 

 

2,500

 

 

2,258,100

 

Rockland Tobacco Asset Securitization
Corp., RB, Asset-Backed, 5.75%,
8/15/43

 

 

5,000

 

 

4,515,100

 

TSASC Inc. New York, RB, Tobacco
Settlement Asset-Backed, Series 1,
5.75%, 7/15/12 (b)

 

 

2,250

 

 

2,453,175

 

 

 

 

 

 

 

 

 

 

 

 

 

15,504,610

 

Transportation — 21.7%

 

 

 

 

 

 

 

Hudson Yards Infrastructure Corp., RB
(AGC), 5.00%, 2/15/47

 

 

1,000

 

 

1,020,430

 

Metropolitan Transportation Authority,
RB, Series 2008C, 6.50%, 11/15/28

 

 

1,000

 

 

1,181,050

 

Metropolitan Transportation Authority,
Refunding RB, Series A:

 

 

 

 

 

 

 

5.00%, 11/15/30

 

 

12,000

 

 

12,623,880

 

5.13%, 11/15/31

 

 

8,000

 

 

8,223,920

 

New York City Industrial Development
Agency, RB, Airis JFK I LLC Project,
Series A, AMT, 5.50%, 7/01/28

 

 

9,000

 

 

8,229,240

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (concluded)

 

 

 

 

 

 

 

Transportation (concluded)

 

 

 

 

 

 

 

Port Authority of New York & New Jersey,
RB:

 

 

 

 

 

 

 

Consolidated, 116th Series, 4.13%,
9/15/32

 

$

500

 

$

503,015

 

Consolidated, 161st Series, 4.50%,
10/15/37

 

 

500

 

 

514,485

 

Special Project, JFK International Air
Terminal, Series 6, AMT (NPFGC),
6.25%, 12/01/13

 

 

1,000

 

 

1,067,720

 

Special Project, JFK International Air
Terminal, Series 6, AMT (NPFGC),
5.75%, 12/01/22

 

 

7,000

 

 

7,014,840

 

 

 

 

 

 

 

 

 

 

 

 

 

40,378,580

 

Utilities — 12.2%

 

 

 

 

 

 

 

Long Island Power Authority, RB,
General, Series C (CIFG), 5.25%,
9/01/29

 

 

2,000

 

 

2,305,440

 

Long Island Power Authority, Refunding
RB, Series A:

 

 

 

 

 

 

 

6.25%, 4/01/33

 

 

150

 

 

174,976

 

5.75%, 4/01/39

 

 

4,000

 

 

4,438,240

 

New York City Municipal Water Finance
Authority, RB:

 

 

 

 

 

 

 

Election of 2002, Series C, 5.00%,
6/15/32

 

 

6,500

 

 

6,551,285

 

Series A (NPFGC), 5.00%, 6/15/32

 

 

4,000

 

 

4,073,400

 

New York City Municipal Water Finance
Authority, Refunding RB, Series D,
5.00%, 6/15/39

 

 

5,000

 

 

5,226,400

 

 

 

 

 

 

 

 

 

 

 

 

 

22,769,741

 

Total Municipal Bonds in New York

 

 

 

 

 

229,157,057

 

Guam — 0.9%

 

 

 

 

 

 

 

State — 0.6%

 

 

 

 

 

 

 

Territory of Guam, GO, Series A,
7.00%, 11/15/39

 

 

970

 

 

1,086,798

 

Utilities — 0.3%

 

 

 

 

 

 

 

Guam Government Waterworks
Authority, Refunding RB, Water,
5.88%, 7/01/35

 

 

600

 

 

607,872

 

Total Municipal Bonds in Guam

 

 

 

 

 

1,694,670

 

Multi-State — 5.4%

 

 

 

 

 

 

 

Housing — 5.4%

 

 

 

 

 

 

 

Centerline Equity Issuer Trust, 6.80%,
11/30/50 (h)(i)

 

 

5,500

 

 

5,518,590

 

MuniMae TE Bond Subsidiary LLC,
6.30%, 6/30/49 (h)(i)

 

 

4,940

 

 

4,544,253

 

Total Municipal Bonds in Multi-State

 

 

 

 

 

10,062,843

 

Puerto Rico — 11.3%

 

 

 

 

 

 

 

County/City/Special District/School District — 1.1%

 

 

 

 

 

 

 

Puerto Rico Sales Tax Financing Corp.,
RB:

 

 

 

 

 

 

 

CAB, Series A, 6.39%, 8/01/32 (c)

 

 

1,685

 

 

449,204

 

First Sub-Series A (AGM), 5.00%,
8/01/40

 

 

1,000

 

 

1,040,520

 

 

 

 

 

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST

OCTOBER 31, 2010

3

 

 

 

 

Schedule of Investments (continued)

BlackRock New York Municipal Income Trust (BNY)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Puerto Rico (concluded)

 

 

 

 

 

 

 

County/City/Special District/School
District (concluded)

 

 

 

 

 

 

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB, CAB, Series A (NPFGC),
5.78%, 8/01/41 (c)

 

$

3,500

 

$

562,205

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,051,929

 

Housing — 1.7%

 

 

 

 

 

 

 

Puerto Rico Housing Finance Authority,
Refunding RB, Subordinate, Capital
Fund Modernization, 5.13%,
12/01/27

 

 

3,000

 

 

3,072,660

 

State — 7.5%

 

 

 

 

 

 

 

Commonwealth of Puerto Rico, GO,
Refunding, Public Improvement,
Series C, 6.00%, 7/01/39

 

 

700

 

 

769,384

 

Puerto Rico Public Buildings Authority,
Refunding RB, Government Facilities,
Series D:

 

 

 

 

 

 

 

5.25%, 7/01/12 (b)

 

 

3,400

 

 

3,663,228

 

5.25%, 7/01/36

 

 

1,600

 

 

1,604,192

 

Puerto Rico Public Finance Corp., RB,
Commonwealth Appropriation, Series
E, 5.50%, 2/01/12 (b)

 

 

5,000

 

 

5,307,250

 

Puerto Rico Sales Tax Financing Corp.,
RB, First Sub-Series A, 5.75%,
8/01/37

 

 

2,000

 

 

2,171,580

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB, CAB, Series A (NPFGC),
6.00%, 8/01/43 (c)

 

 

3,500

 

 

487,865

 

 

 

 

 

 

 

 

 

 

 

 

 

14,003,499

 

Transportation — 0.1%

 

 

 

 

 

 

 

Puerto Rico Highway & Transportation
Authority, Refunding RB, Series AA-1
(AGM), 4.95%, 7/01/26

 

 

250

 

 

259,125

 

Utilities — 0.9%

 

 

 

 

 

 

 

Puerto Rico Aqueduct & Sewer Authority,
RB, Senior Lien, Series A, 6.00%,
7/01/38

 

 

1,100

 

 

1,177,968

 

Puerto Rico Electric Power Authority,
Refunding RB, Series VV (NPFGC),
5.25%, 7/01/29

 

 

500

 

 

546,330

 

 

 

 

 

 

 

 

 

 

 

 

 

1,724,298

 

Total Municipal Bonds in Puerto Rico

 

 

 

 

 

21,111,511

 

Total Municipal Bonds – 140.7%

 

 

 

 

 

262,026,081

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (j)

 

 

 

 

 

 

 

New York — 11.9%

 

 

 

 

 

 

 

Housing — 8.4%

 

 

 

 

 

 

 

New York Mortgage Agency, RB, 31st
Series A, AMT, 5.30%, 10/01/31

 

 

15,500

 

 

15,536,580

 

Utilities — 3.5%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB:

 

 

 

 

 

 

 

Fiscal 2009, Series A, 5.75%,
6/15/40

 

 

1,200

 

 

1,370,398

 

Series FF-2, 5.50%, 6/15/40

 

 

810

 

 

914,039

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (j)

 

Par
(000)

 

Value

 

New York (concluded)

 

 

 

 

 

 

 

Utilities (concluded)

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, Refunding RB, Series A,
4.75%, 6/15/30

 

$

4,000

 

$

4,218,240

 

 

 

 

 

 

 

 

 

 

 

 

 

6,502,677

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts – 11.9%

 

 

 

 

 

22,039,257

 

Total Long-Term Investments
(Cost – $277,425,573) – 152.6%

 

 

 

 

 

284,065,338

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

 

BIF New York Municipal Money Fund
0.00%, 12/31/22 (k)(l)

 

 

2,635,546

 

 

2,635,546

 

Total Short-Term Securities
(Cost – $2,635,546) – 1.4%

 

 

 

 

 

2,635,546

 

Total Investments
(Cost – $280,061,119*) – 154.0%

 

 

 

 

 

286,700,884

 

Other Assets Less Liabilities – 2.7%

 

 

 

 

 

5,085,058

 

Liability for Trust Certificates, Including Interest
Expense and Fees Payable – (6.0)%

 

 

 

 

 

(11,094,768

)

Preferred Shares, at Redemption Value – (50.7)%

 

 

 

 

 

(94,506,211

)

 

 

 

 

 

 

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

186,184,963

 

 

 

 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of October 31, 2010, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

 

 

 

Aggregate cost

 

 

 

 

$

267,808,267

 

 

 

 

 

 

 

Gross unrealized appreciation

 

 

 

 

$

11,023,520

 

Gross unrealized depreciation

 

 

 

 

 

(3,220,377

)

 

 

 

 

 

 

Net unrealized appreciation

 

 

 

 

$

7,803,143

 

 

 

 

 

 

 

 

 

(a)

Variable rate security. Rate shown is as of report date.

 

 

(b)

US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.

 

 

(c)

Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

 

(d)

Issuer filed for bankruptcy and/or is in default of interest payments.

 

 

(e)

Non-income producing security.

 

 

(f)

Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown reflects the current yield as of report date.

 

 

(g)

When-issued security. Unsettled when-issued transactions were as follows:


 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation

 

JPMorgan Securities

 

$

1,125,831

 

$

5,418

 

 

 

(h)

Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors.

 

 

(i)

Security represents a beneficial interest in a trust. The collateral deposited into the trust is federally tax-exempt revenue bonds issued by various state or local governments, or their respective agencies or authorities. The security is subject to remarketing prior to its stated maturity.


 

 

 

 

4

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST

OCTOBER 31, 2010

 


 

 

 

 

Schedule of Investments (concluded)

BlackRock New York Municipal Income Trust (BNY)

 

 

(j)

Securities represent bonds transferred to a tender option bond trust in exchange for which the Trust acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

 

(k)

Investments in companies considered to be an affiliate of the Trust during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
Held at
July 31,
2010

 

Net
Activity

 

Shares
Held at
October 31,
2010

 

Income

 

BIF New York
Municipal
Money Fund

 

 

414,030

 

 

2,221,516

 

 

2,635,546

 

 

—

 

 

 

 

(l)

Represents the current yield as of report date.

 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments, which are as follows:

 

 

 

 

•

Level 1 — price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

•

Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

 

 

 

•

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments)

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its annual report.

The following table summarizes the inputs used as of October 31, 2010 in determining the fair valuation of the Trust’s investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term
Investments1

 

 

—

 

$

284,065,338

 

 

—

 

$

284,065,338

 

Short-Term
Securities

 

$

2,635,546

 

 

—

 

 

—

 

 

2,635,546

 

Total

 

$

2,635,546

 

$

284,065,338

 

 

—

 

$

286,700,884

 

 

 

1

See above Schedule of Investments for values in each sector.


 

 

 

 

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST

OCTOBER 31, 2010

5

Item 2 –

Controls and Procedures

 

 

2(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″)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

 

 

2(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) 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

 

 

 

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.

 

 

 

BlackRock New York Municipal Income Trust
   
  By: /s/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer of
    BlackRock New York Municipal Income Trust
   
  Date: December 22, 2010
   
  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/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer (principal executive officer) of
    BlackRock New York Municipal Income Trust
   
  Date: December 22, 2010
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock New York Municipal Income Trust
     
  Date: December 22, 2010