As filed with the Securities and Exchange Commission on April 2, 2007
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-21168
NEUBERGER BERMAN INTERMEDIATE MUNICIPAL FUND INC.
-------------------------------------------------
(Exact Name of the Registrant as Specified in Charter)
605 Third Avenue, 2nd Floor
New York, New York 10158-0180
(Address of Principal Executive Offices - Zip Code)
Registrant's telephone number, including area code: (212) 476-8800
Peter E. Sundman, Chief Executive Officer
Neuberger Berman Intermediate Municipal Fund Inc.
605 Third Avenue, 2nd Floor
New York, New York 10158-0180
Arthur Delibert, Esq.
Kirkpatrick & Lockhart Preston Gates Ellis LLP
1601 K Street, N.W.
Washington, D.C. 20006-1600
(Names and addresses of agents for service)
Date of fiscal year end: October 31, 2007
Date of reporting period: January 31, 2007
Form N-Q is to be used by management investment companies to file reports with
the Commission not later than 60 days after the close of their first and third
fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of
1940 ("1940 Act") (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
Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC
20549-0609. The OMB has reviewed this collection of information under the
clearance requirements of 44 U.S.C. {section} 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
NEUBERGER BERMAN JANUARY 31, 2007 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc.
--------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
ALABAMA (1.5%)
4,210 DCH Hlth. Care Au. Hlth. Care Fac. Rev.,
Ser. 2002, 5.25%, due 6/1/14 A1 A+ 4,479
----------------
ARIZONA (1.9%)
1,465 Arizona Energy Management Svcs. (Main) LLC
Energy Conservation Rev. (Arizona St. Univ. Aaa AAA
Proj.-Main Campus), Ser. 2002, (MBIA
Insured), 5.25%, due 7/1/17 1,567
1,750 Verrado Comm. Fac. Dist. Number 1 G.O., Ser.
2003, 6.15%, due 7/15/17 1,867(^^)
2,325 Verrado Comm. Fac. Dist. Number 1 G.O., Ser.
2006, 5.05%, due 7/15/18 2,338(^^)
----------------
5,772
----------------
CALIFORNIA (7.6%)
3,500 California Poll. Ctrl. Fin. Au. Solid Waste
Disp. Rev. (Republic Svc., Inc. Proj.), Ser.
2002 B, 5.25%, due 6/1/23 Putable 12/1/17 Baa2 BBB+ 3,714(B)
2,000 California Poll. Ctrl. Fin. Au. Solid Waste
Disp. Rev. (Waste Management, Inc. Proj.),
Ser. 2005 C, 5.13%, due 11/1/23 BBB 2,097(B)
2,500 California St. Dept. of Wtr. Res. Pwr.
Supply Rev., Ser. 2002 A, 5.75%, due 5/1/17 Aaa A- 2,766
3,460 California St. Dept. of Wtr. Res. Pwr.
Supply Rev., Ser. 2002 A, 5.38%, due 5/1/22
1,500 California St. Pub. Works Board Lease Rev., Aaa A- 3,767
Ser. 2002 A, (AMBAC Insured), 5.25%, due
12/1/17 Aaa AAA 1,609
1,240 California Statewide CDA Hlth. Fac. Rev.
(Mem. Hlth. Svcs.), Ser. 2003 A, 6.00%, due
10/1/16 A3 A+ 1,358(B)
3,000 Golden St. Tobacco Securitization Corp.
Tobacco Settlement Asset-Backed Rev., Ser.
2003 A-1, 6.25%, due 6/1/33 Baa3 BBB 3,345
2,080 Oakland Redev. Agcy. Sub. Tax Allocation
Rev. (Central Dist. Redev. Proj.), Ser.
2003, (FGIC Insured), 5.50%, due 9/1/18 Aaa AAA 2,254
740 San Diego Redev. Agcy. Sub. Parking Rev.
(Centre City Redev. Proj.), Ser. 2003 B,
5.00%, due 9/1/17 Baa2 758
1,500 Santa Rosa Rancheria Tachi Yokut Tribe
Enterprise Rev., Ser. 2006, 4.88%, due
3/1/16 1,516(^^)
----------------
23,184
----------------
COLORADO (5.3%)
4,220 Colorado Springs Util. Sys. Sub. Lien Ref.
Rev., Ser. 2002 A, (AMBAC Insured), 5.38%,
due 11/15/18 Aaa AAA 4,548
4,000 Denver City & Co. Arpt. Sys. Ref. Rev., Ser.
2002 E, (FGIC Insured), 5.25%, due 11/15/14 Aaa AAA 4,239
2,000 Denver City & Co. Arpt. Sys. Rev., Ser. 1991
D, 7.75%, due 11/15/13 A1 AAA 2,244
4,610 Thornton Cert. of Participation, Ser. 2002,
(AMBAC Insured), 5.38%, due 12/1/16 Aaa AAA 4,978
----------------
16,009
----------------
CONNECTICUT (0.8%)
2,400 Mashantucket Western Pequot Tribe Spec.
Rev., Sub. Ser. 1997 B, 5.70%, due 9/1/12 Baa3 2,472(n)
----------------
DISTRICT OF COLUMBIA (1.6%)
4,495 Dist. of Columbia (Washington, D.C.) Ref.
G.O., Ser. 2002 C, 5.25%, due 6/1/13 Aaa AAA 4,773
----------------
See Notes to Schedule of Investments
NEUBERGER BERMAN JANUARY 31, 2007 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
FLORIDA (8.8%)
2,500 Broward Co. G.O., Ser. 2001 A, 5.25%, due
1/1/18 Aa1 AA+ 2,639
2,805 Fiddlers Creek Comm. Dev. Dist. Number 2
Spec. Assessment Rev., Ser. 2003 A, 6.00%,
due 5/1/16 2,921(^^)
1,750 Miami Beach Hlth. Fac. Au. Hosp. Ref. Rev.
(Mount Sinai Med. Ctr. of Florida Proj.),
Ser. 2004, 6.25%, due 11/15/09 Ba1 BB+ 1,835(B)
8,140 Orange Co. Sales Tax Ref. Rev., Ser. 2002 A,
(FGIC Insured), 5.13%, due 1/1/18 Aaa AAA 8,661
2,085 Palm Beach Co. Hlth. Fac. Au. Hosp. Ref.
Rev. (BRCH Corp. Oblig. Group), Ser. 2001,
5.00%, due 12/1/12 A 2,163(B)
7,000 Palm Beach Co. Sch. Board Cert. of
Participation, Ser. 2001 B, (AMBAC Insured),
5.38%, due 8/1/17 Aaa AAA 7,474
1,000 Sarasota Co. Util. Sys. Ref. Rev., Ser. 2002
C, (FGIC Insured), 5.25%, due 10/1/20 Aaa AAA 1,064
----------------
26,757
----------------
GEORGIA (2.6%)
4,575 Henry Co. Wtr. & Swr. Au. Wtr. & Swr. Ref.
Rev., Ser. 2002 A, (MBIA Insured), 5.13%,
due 2/1/17 Aaa AAA 4,939
2,710 Newnan Hosp. Au. Rev. Anticipation Cert.
(Newnan Hosp., Inc. Proj.), Ser. 2002, (MBIA
Insured), 5.50%, due 1/1/18 Aaa 2,947(B)
----------------
7,886
----------------
ILLINOIS (9.9%)
5,940 Chicago G.O., Ser. 2002 A, (AMBAC Insured),
5.38%, due 1/1/17 Pre-Refunded 7/1/12 Aaa AAA 6,393
180 Chicago G.O., Ser. 2002 A, (AMBAC Insured),
5.38%, due 1/1/17 Aaa AAA 192
1,500 Chicago Metro. Wtr. Reclamation Dist. Cap.
Imp. G.O., Ser. 2002 C, 5.38%, due 12/1/16 Aaa AAA 1,617
5,130 Illinois Ed. Fac. Au. Rev. (Field Museum of
Natural History), Ser. 2002, 4.30%, due
11/1/36 A2 A 5,175(B)
4,000 Illinois Fin. Au. Rev. (Clare Oaks Proj.),
Ser. 2006 A, 5.75%, due 11/15/16 4,126(^^)(B)
5,000 Illinois G.O., Ser. 2002, (MBIA Insured),
5.25%, due 10/1/14 Aaa AAA 5,350
3,000 Illinois Hlth. Fac. Au. Rev. (Loyola Univ.
Hlth. Sys.), Ser. 1997 A, (MBIA Insured),
6.00%, due 7/1/14 Aaa AAA 3,400(B)
1,670 Illinois Metro. Pier & Exposition Au.
Dedicated St. Tax Ref. Rev., Ser. 1998 A,
5.50%, due 6/15/17 Aaa AAA 1,887
2,000 Kane, Cooke, & DuPage Cos. Elgin Sch. Dist.
Number U-46 G.O., Ser. 1998, (FSA Insured),
5.35%, due 1/1/15 Aaa 2,126
----------------
30,266
INDIANA (9.7%) ----------------
1,995 Indiana Bond Bank Rev. (St. Revolving Fund
Prog.), Ser. 2001 A, 5.38%, due 2/1/17 AAA 2,175
760 Indiana Bond Bank Rev. (St. Revolving Fund
Prog.), Ser. 2001 B, 5.25%, due 2/1/18 AAA 817
8,005 Indiana Bond Bank Rev. (Unrefunded Bal.
Revolving Fund Prog.), Ser. 2001 A, 5.38%,
due 2/1/17 AAA 8,689
2,800 Indiana Bond Bank Rev. (Unrefunded Bal.
Revolving Fund Prog.), Ser. 2002 B, 5.25%,
due 2/1/18 AAA 2,992
4,000 Indiana Hlth. & Ed. Fac. Fin. Au. Hosp. Ref.
Rev. (Clarian Hlth. Oblig. Group), Ser. 2006
B, 5.00%, due 2/15/21 A2 A+ 4,186(B)
1,000 Indiana Muni. Pwr. Agcy. Pwr. Supply Sys.
Rev., Ser. 2002 B, (MBIA Insured), 5.25%,
due 1/1/18 Aaa AAA 1,067
See Notes to Schedule of Investments
NEUBERGER BERMAN JANUARY 31, 2007 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
2,050 Indiana St. Hlth. Fac. Fin. Au. Rev. (Hlth.
Sys. Sisters of St. Francis), Ser. 2001,
5.35%, due 11/1/15 Aa3 2,192(B)
1,065 Indiana St. Recreational Dev. Comm. Rev.,
Ser. 2002, (AMBAC Insured), 5.25%, due
7/1/18 Aaa AAA 1,128
1,125 Indiana St. Recreational Dev. Comm. Rev.,
Ser. 2002, (AMBAC Insured), 5.25%, due
7/1/19 Aaa AAA 1,190
2,580 Indianapolis Local Pub. Imp. Rev.
(Indianapolis Arpt. Au. Proj.), Ser. 2003 A,
(FSA Insured), 5.63%, due 1/1/17 Aaa AAA 2,780
2,000 Jasper Hosp. Au. Hosp. Fac. Ref. Rev. (Mem.
Hosp. & Hlth. Care Ctr. Proj.), Ser. 2002,
5.50%, due 11/1/17 AA 2,144(B)
----------------
29,360
----------------
IOWA (2.1%)
3,000 Iowa Tobacco Settlement Au. Tobacco
Settlement Asset-Backed Rev., Ser. 2001 B,
5.30%, due 6/1/25 AAA 3,157
3,000 Iowa Tobacco Settlement Au. Tobacco
Settlement Asset-Backed Rev., Ser. 2005 C,
5.38%, due 6/1/38 Baa3 BBB 3,124
----------------
6,281
----------------
LOUISIANA (1.2%)
2,500 Morehouse Parish Ref. PCR (Int'l. Paper Co.
Proj.), Ser. 2001 A, 5.25%, due 11/15/13 Baa3 BBB 2,637(B)
1,000 Tobacco Settlement Fin. Corp. Tobacco
Settlement Asset-Backed Rev., Ser. 2001 B,
5.50%, due 5/15/30 Baa3 BBB 1,055
----------------
3,692
----------------
MARYLAND (0.5%)
1,000 Maryland St. Hlth. & Higher Ed. Fac. Au.
Rev. (Union Hosp. of Cecil Co.), Ser. 2002,
5.50%, due 7/1/14 A3 1,061(B)
400 Prince George's Co. Unrefunded Balance Cons.
Pub. Imp. G.O., Ser. 2001, (FGIC Insured),
5.25%, due 12/1/16 Aaa AAA 428
----------------
1,489
----------------
MASSACHUSETTS (8.6%)
3,000 Massachusetts Port Au. Spec. Fac. Rev.
(Delta Air Lines, Inc. Proj.), Ser. 2001 A,
(AMBAC Insured), 5.50%, due 1/1/19 Aaa AAA 3,142(B)
1,850 Massachusetts St. G.O., Ser. 2002 E, (MBIA
Insured), 5.38%, due 1/1/18 Aaa AAA 1,998
2,450 Massachusetts St. Hlth. & Ed. Fac. Au. Rev.
(Caritas Christi Oblig. Group), Ser. 1999 A,
5.70%, due 7/1/15 Baa3 BBB 2,540(B)
2,810 Massachusetts St. Hlth. & Ed. Fac. Au. Rev.
(Milford-Whitinsville Reg. Hosp.), Ser. 1998
C, 5.75%, due 7/15/13 Baa3 BBB- 2,897(B)
4,935 Massachusetts St. Hlth. & Ed. Fac. Au. Rev.
(New England Med. Ctr. Hosp.), Ser. 2002 H,
(FGIC Insured), 5.38%, due 5/15/16 Aaa AAA 5,296(B)
2,000 Massachusetts St. Wtr. Poll. Abatement Trust
Rev. (Pool Prog.), Ser. 2001, 5.25%, due
2/1/16 Pre-Refunded 8/1/11 Aaa AAA 2,118
5,030 Massachusetts St. Wtr. Poll. Abatement Trust
Rev. (MWRA Prog.), Ser. 2002 A, 5.25%, due
8/1/19 Aaa AAA 5,358
See Notes to Schedule of Investments
NEUBERGER BERMAN JANUARY 31, 2007 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
2,775 Massachusetts St. Wtr. Poll. Abatement Trust
Unrefunded Balance Rev. (Pool Prog.), Ser.
2001, 5.25%, due 2/1/16 Aaa AAA 2,921
----------------
26,270
----------------
MICHIGAN (6.6%)
3,075 Detroit Sch. Dist. Sch. Bldg. & Site Imp.
G.O., Ser. 2002 A, (FGIC Insured), 5.50%,
due 5/1/15 Aaa AAA 3,357
1,070 Ingham & Clinton Cos. East Lansing Bldg. Au.
Ref. G.O., Ser. 1999, 5.25%, due 10/1/16 AA+ 1,107
1,375 Macomb Co. New Haven Comm. Sch. Bldg. & Site
G.O., Ser. 2002, 5.25%, due 5/1/17 Aa2 AA 1,477
1,500 Michigan St. Bldg. Au. Rev. (Fac. Prog.),
Ser. 2001 II, 5.50%, due 10/15/18 Aa3 AA- 1,606
5,000 Michigan St. Hsg. Dev. Au. Single-Family
Mtge. Rev., Ser. 2001 A, (MBIA Insured),
5.30%, due 12/1/16 Aaa AAA 5,145
3,850 Royal Oak Hosp. Fin. Au. Hosp. Ref. Rev.
(William Beaumont Hosp.), Ser. 1996 I,
6.25%, due 1/1/12 Aa3 AA- 4,225(B)
1,000 Summit Academy North Pub. Sch. Academy Ref.
Rev., Ser. 2005, 6.00%, due 11/1/15 BB+ 1,005
2,000 Summit Academy North Pub. Sch. Academy Ref.
Rev., Ser. 2005, 5.25%, due 11/1/20 BB+ 2,012
----------------
19,934
----------------
MINNESOTA (1.6%)
2,000 Freeborn Co. Hsg. & Redev. Au. Lease Rev.
(Criminal Justice Ctr. Proj.), Ser. 2002,
5.38%, due 2/1/17 Baa1 2,097
2,540 St. Paul Port Au. Lease Rev. (Office Bldg.
at Cedar Street), Ser. 2002, 5.00%, due
12/1/17 Aa2 AA+ 2,659
----------------
4,756
----------------
MISSOURI (4.0%)
3,495 Bi State Dev. Agcy. Metro. Dist. Rev.
(Metrolink Cross Co. Extension Proj.), Ser.
2002 B, (FSA Insured), 5.25%, due 10/1/16 Aaa AAA 3,758
2,000 Boone Co. Hosp. Ref. Rev. (Boone Hosp.
Ctr.), Ser. 2002, 5.05%, due 8/1/20 A3 2,066(B)
2,425 Branson Dev. Fin. Board Infrastructure Fac.
Board Rev., Ser. 2003 A, 5.00%, due 12/1/17 Baa1 BBB+ 2,468
750 Branson Ind. Dev. Au. Ltd. Oblig. Tax
Increment Rev. (Branson Landing-Retail
Proj.), Ser. 2005, 5.25%, due 6/1/21 759(^^)
2,000 Missouri St. Env. Imp. & Energy Res. Au.
Wtr. Poll. Ctrl. & Drinking Wtr. Rev., Ser.
2002 B, 5.50%, due 7/1/16 Aaa 2,180
820 Missouri St. Hsg. Dev. Comm. Multi-Family
Hsg. Rev., Ser. 2001 II, 5.25%, due 12/1/16 AA 852
155 Missouri St. Hsg. Dev. Comm. Multi-Family
Hsg. Rev., Ser. 2001 III, 5.05%, due 12/1/15 AA 161
----------------
12,244
NEVADA (5.2%) ----------------
5,335 Clark Co. Passenger Fac. Charge Ref. Rev.
(Las Vegas-McCarran Int'l. Arpt. Proj.),
Ser. 2002 A, (MBIA Insured), 5.25%, due
7/1/10 Aaa AAA 5,538
4,355 Las Vegas Valley Wtr. Dist. Ref. & Wtr. Imp.
G.O., Ser. 2003 A, (FGIC Insured), 5.25%,
due 6/1/16 Aaa AAA 4,656
5,395 Truckee Meadows Wtr. Au. Wtr. Rev., Ser.
2001 A, (FSA Insured), 5.50%, due 7/1/15 Aaa AAA 5,746
----------------
15,940
----------------
See Notes to Schedule of Investments
NEUBERGER BERMAN JANUARY 31, 2007 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
NEW HAMPSHIRE (1.8%)
3,310 New Hampshire Hlth. Ed. Fac. Au. Rev. (Univ.
Sys. of New Hampshire), Ser. 1992, (AMBAC
Insured), 5.38%, due 7/1/17 Aaa AAA 3,553
1,700 New Hampshire Hlth. Ed. Fac. Au. Rev. (Univ.
Sys. of New Hampshire), Ser. 1992, (AMBAC
Insured), 5.38%, due 7/1/17 Aaa AAA 1,816
----------------
5,369
----------------
NEW JERSEY (6.3%)
5,000 New Jersey Bldg. Au. St. Bldg. Ref. Rev.,
Ser. 2002 B, (FSA Insured), 5.25%, due
12/15/15 Aaa AAA 5,353
1,500 New Jersey Econ. Dev. Au. Cigarette Tax
Rev., Ser. 2004, 5.63%, due 6/15/19 1,566
700 New Jersey Econ. Dev. Au. Retirement Comm. Baa2 BBB
Rev. Ref. (Seabrook Vlg. Inc. Fac.), Ser.
2006, 5.25%, due 11/15/26 712(^^)(B)
6,900 New Jersey Ed. Fac. Au. Rev. (Stevens
Institute of Technology), Ser. 2002 C,
5.25%, due 7/1/17 Baa2 BBB+ 7,252(B)
4,000 New Jersey Hlth. Care Fac. Fin. Au. Rev.
(Somerset Med. Ctr. Issue), Ser. 2003,
5.50%, due 7/1/18 Ba1 4,158(B)
----------------
19,041
----------------
NEW YORK (6.1%)
1,105 Lyons Comm. Hlth. Initiatives Corp. Fac.
Rev., Ser. 2004, 5.50%, due 9/1/14 A2 1,179
3,250 New York City G.O., Ser. 2002 C, 5.50%, due
8/1/15 A1 AA- 3,509
2,580 New York City IDA Civic Fac. Rev. (Lycee
Francais de New York Proj.), Ser. 2002 A,
5.50%, due 6/1/14 A 2,712(B)
750 New York City IDA Civic Fac. Rev. (Vaughn
Col. Aeronautics), Ser. 2006 A, 5.00%, due
12/1/21 BB+ 749
2,750 New York City IDA Liberty Rev. (7 World
Trade Center, LLC Proj.), Ser. 2005 A,
6.25%, due 3/1/15 2,923(^^)
1,750 New York City IDA Spec. Fac. Rev. (American
Airlines, Inc. J.F.K. Int'l. Arpt. Proj.),
Ser. 2005, 7.50%, due 8/1/16 B 2,074(B)
1,000 New York Convention Ctr. Operating Corp.
Cert. of Participation (Yale Bldg.
Acquisition Proj.), Ser. 2003, 5.25%, due
6/1/08 1,015(^^)
1,250 New York Liberty Dev. Corp. Rev. (Nat'l.
Sports Museum Proj.), Ser. 2006 A, 6.13%,
due 2/15/19 1,303(^^)
1,700 New York St. Dorm. Au. Personal Income Tax
Rev., Ser. 2003 A, 5.38%, due 3/15/20 Aa3 AAA 1,850
1,300 New York St. Urban Dev. Corp. Ref. Rev.
(Correctional Cap. Fac.), Ser. 1998, 5.00%,
due 1/1/14 A1 AA- 1,338
----------------
18,652
----------------
NORTH DAKOTA (1.4%)
4,100 Fargo Hlth. Sys. Rev. (Meritcare Obligated
Group), Ser. 2002 A, (AMBAC Insured), 5.63%,
due 6/1/17 Aaa AAA 4,408(B)
OHIO (2.7%) ----------------
1,000 Coshocton Co. Env. Imp. Ref. Rev.
(Smurfit-Stone Container Enterprises, Inc.
Proj.), Ser. 2005, 5.13%, due 8/1/13 CCC+ 1,002(B)
3,000 Moraine Solid Waste Disp. Rev. (General
Motors Corp. Proj.), Ser. 1994, 6.75%, due
7/1/14 Caa1 B- 3,175(B)
See Notes to Schedule of Investments
NEUBERGER BERMAN JANUARY 31, 2007 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
3,760 Ohio Air Quality Dev. Au. Env. Imp. Ref.
Rev. (USX Corp. Proj.), Ser. 1995, 5.00%,
due 11/1/15 Baal BBB+ 3,944(B)
----------------
8,121
----------------
PENNSYLVANIA (5.7%)
1,765 Cumberland Co. West Shore Area Au. Hosp.
Rev. (Holy Spirit Hosp. of the Sisters of
Christian Charity Proj.), Ser. 2001, 6.05%,
due 1/1/19 BBB 1,879(B)
565 Delaware River Joint Toll Bridge Comm. Sys.
Rev., Ser. 2003, 5.25%, due 7/1/18
Pre-Refunded 7/1/13 A2 A- 610
435 Delaware River Joint Toll Bridge Comm. Sys.
Rev., Ser. 2003, 5.25%, due 7/1/18 A2 A- 463
2,000 Lehigh Co. Gen. Purp. Au. Rev. (KidsPeace
Oblig. Group), Ser. 1998, 6.00%, due 11/1/23 B2 1,945(B)
5,000 Montgomery Co. Higher Ed. & Hlth. Au. Hosp.
Rev. (Abington Mem. Hosp. Proj.), Ser. 2002
A, 5.00%, due 6/1/19 A 5,142(B)
1,000 Pennsylvania Econ. Dev. Fin. Au. Res. Rec.
Ref. Rev. (Colver Proj.), Ser. 2005 G,
5.13%, due 12/1/15 1,008(^^)
2,000 Philadelphia Arpt. Ref. Rev. (Philadelphia
Arpt. Sys.), Ser. 1998 A, (FGIC Insured),
5.38%, due 6/15/14 Aaa AAA 2,071
2,000 Sayre Hlth. Care Fac. Au. Rev. (Guthrie
Hlth. Proj.), Ser. 2002 A, 5.75%, due
12/1/21 A- 2,151(B)
2,000 Westmoreland Co. IDA Gtd. Rev. (National
Waste & Energy Corp., Valley Landfill
Expansion Proj.), Ser. 1993, 5.10%, due
5/1/18 BBB 2,033(B)
----------------
17,302
----------------
SOUTH CAROLINA (5.5%)
1,100 Charleston Co. Sch. Dist. G.O., Ser. 2001,
(FSA Insured), 5.00%, due 2/1/18 Aaa AAA 1,153
2,140 Mt. Pleasant Town Waterworks & Swr. Sys.
Ref. & Imp. Rev., Ser. 2002, (FGIC Insured),
5.25%, due 12/1/17 Aaa AAA 2,296
2,345 South Carolina Jobs Econ. Dev. Au. Hosp.
Ref. Rev. (Palmetto Hlth. Alliance), Ser.
2003 A, 6.00%, due 8/1/13 Baa1 BBB+ 2,525(B)
2,000 South Carolina Jobs Econ. Dev. Au. Hosp.
Ref. Rev. (Palmetto Hlth. Alliance), Ser.
2003 A, 6.13%, due 8/1/23 Baa1 BBB+ 2,161(B)
4,665 South Carolina St. Pub. Svc. Au. Rev., Ser.
2002 B, (FSA Insured), 5.38%, due 1/1/18 Aaa AAA 4,995
3,500 Union Co. IDR (Federal Paper Board Co., Inc.
Proj.), Ser. 1989, 4.55%, due 11/1/09 Baa3 BBB 3,487(B)
----------------
16,617
----------------
TENNESSEE (2.1%)
1,655 Knox Co. Hlth. Ed. & Hsg. Fac. Board Hosp.
Fac. Rev. Prerefunded, Ser. 2002 A, 5.50%,
due 1/1/18 Aaa AAA 1,802(B)
1,360 Knox Co. Hlth. Ed. & Hsg. Fac. Board Hosp.
Fac. Rev. Unrefunded Bal., Ser. 2002 A,
5.50%, due 1/1/18 Aaa AAA 1,463(B)
3,085 Memphis-Shelby Co. Arpt. Au. Spec. Fac. Ref.
Rev. (Federal Express Corp.), Ser. 2002,
5.05%, due 9/1/12 Baa2 BBB 3,225(B)
----------------
6,490
----------------
See Notes to Schedule of Investments
NEUBERGER BERMAN JANUARY 31, 2007 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
TEXAS (22.5%)
4,145 Anson Ed. Fac. Corp. Std. Hsg. Rev. (Univ.
of Texas at Dallas-Waterview Park Proj.),
Ser. 2002, 5.00%, due 1/1/23 A 4,254(B)
965 Austin Convention Enterprises, Inc.
Convention Ctr. Hotel First Tier Rev., Ser.
2001 A, 6.38%, due 1/1/16 Aaa BBB- 1,032
3,300 Brazos River Au. Ref. PCR (TXU Energy Co.
LLC Proj.), Ser. 2003 A, 6.75%, due 4/1/38
Putable 4/1/13 Baa2 BBB- 3,694(B)
1,000 Brazos River Au. Ref. PCR (TXU Energy Co.
LLC Proj.), Ser. 2003 D, 5.40%, due 10/1/29
Putable 10/1/14 BBB- 1,067(B)
1,000 Brazos River Au. Ref. Rev. (Reliant Energy,
Inc. Proj.), Ser. 1999 B, 7.75%, due 12/1/18 Ba1 BBB- 1,065(B)
3,600 Corpus Christi Tax & Muni. Hotel Occupancy
Tax G.O., Ser. 2002, (FSA Insured), 5.50%,
due 9/1/17 Aaa AAA 3,891
2,100 Dallas-Fort Worth Int'l. Arpt. Fac. Imp.
Corp. Rev., Ser. 2004 A-1, 6.15%, due 1/1/16 Ba2 2,124(B)
1,935 Dallas-Fort Worth Int'l. Arpt. Imp. Rev.,
Ser. 2004 B, (FSA Insured), 5.50%, due
11/1/18 Aaa AAA 2,093
1,750 Ector Co. Hosp. Dist. Hosp. Rev., Ser. 2002
A, 5.63%, due 4/15/16 A3 BBB+ 1,807
1,745 Ector Co. Hosp. Dist. Hosp. Rev., Ser. 2002
A, 5.63%, due 4/15/17 A3 BBB+ 1,799
7,000 Harris Co. Toll Road Sr. Lien Ref. Rev.,
Ser. 2002, (FSA Insured), 5.38%, due 8/15/16 Aaa AAA 7,498
610 HFDC Central Texas Inc. Retirement Fac.
Rev., Ser. 2006 A, 5.25%, due 11/1/15 616(^^)(B)
3,235 Houston Arpt. Sys. Sub. Lien. Ref. Rev.,
Ser. 2001 A, (FGIC Insured), 5.50%, due
7/1/16 Aaa AAA 3,431
4,955 Houston Pub. Imp. Ref. G.O., Ser. 2002,
(MBIA Insured), 5.25%, due 3/1/17 Aaa AAA 5,279
2,000 Lubbock Hlth. Fac. Dev. Corp. Rev. (St.
Joseph Hlth. Sys.), Ser. 1998, 5.25%, due
7/1/16 Aa3 AA- 2,054(B)
4,780 North Central Hlth. Fac. Dev. Corp. Hosp.
Ref. Rev. (Baylor Hlth. Care Sys. Proj.),
Ser. 1998, 5.10%, due 5/15/13 Aa3 AA- 4,951(B)
950 Northwest Texas Indpt. Sch. Dist.
Prerefunded Sch. Bldg., Ser. 2002, 5.50%,
due 8/15/17 Aaa 1,035
50 Northwest Texas Indpt. Sch. Dist. Unrefunded
Bal. Sch. Bldg., Ser. 2002, 5.50%, due
8/15/17 Aaa 54
6,795 San Antonio Ind. Sch. Dist. Unlimited Tax
G.O., Ser. 2001 B, 5.38%, due 8/15/17 Aaa AAA 7,216
20 San Antonio Cert. of Obligation G.O., Ser.
2002, 5.00%, due 2/1/14 Pre-Refunded 2/1/12 Aa2 AA+ 21
1,240 San Antonio Unrefunded Balance Cert. of
Obligation G.O., Ser. 2002, 5.00%, due
2/1/14 Aa2 AA+ 1,300
910 Southmost Reg. Wtr. Auth. Tex. Wtr. Supply
Contract Rev. Prerefunded, Ser. 2002, (MBIA
Insured), 5.50%, due 9/1/19 Aaa 987
1,000 Southmost Reg. Wtr. Auth. Tex. Wtr. Supply
Contract Rev. Unrefunded Bal., Ser. 2002,
(MBIA Insured), 5.50%, due 9/1/19 Aaa 1,074
4,200 Tarrant Reg. Wtr. Dist. Wtr. Ref. & Imp.
Rev., Ser. 2002, (FSA Insured), 5.38%, due
3/1/16 Aaa AAA 4,520
420 Texas Std. Hsg. Corp. Std. Hsg. Rev.
(Midwestern St. Univ. Proj.), Ser. 2002,
5.50%, due 9/1/12 Baa3 435
See Notes to Schedule of Investments
NEUBERGER BERMAN JANUARY 31, 2007 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
1,000 Trinity River Au. Imp. & Ref. Rev. (Tarrant
Co. Wtr. Proj.), Ser. 2003, (MBIA Insured),
5.50%, due 2/1/16 Aaa AAA 1,089
1,085 Tyler Hlth. Fac. Dev. Corp. Hosp. Rev.
(Mother Frances Hosp. Reg. Hlth. Care Ctr.
Proj.), Ser. 2003, 5.25%, due 7/1/13 Baa1 1,142
2,950 Univ. of Texas Board of Regents Fin. Sys.
Rev., Ser. 1999 B, 5.38%, due 8/15/18 Aaa AAA 3,065
----------------
68,593
----------------
UTAH (0.4%)
1,300 Murray City Hosp. Rev. (IHC Hlth. Svc.,
Inc.), Ser. 2005 A, (LOC: JP Morgan Chase),
3.73%, due 2/1/07 VMIG1 A-1+ 1,300(u)
----------------
VIRGIN ISLANDS (0.9%)
1,000 Virgin Islands Pub. Fin. Au. Refinery Fac.
Rev. (HOVENSA Refinery), Ser. 2003, 6.13%,
due 7/1/22 Baa3 BBB 1,093
1,500 Virgin Islands Pub. Fin. Au. Refinery Fac.
Rev. (HOVENSA Refinery), Ser. 2004, 5.88%,
due 7/1/22 Baa3 BBB 1,626(B)
----------------
2,719
----------------
VIRGINIA (1.5%)
1,000 Hopewell Ind. Dev. Au. Env. Imp. Ref. Rev.
(Smurfit-Stone Container Enterprise, Inc.
Proj.), Ser. 2005, 5.25%, due 6/1/15 CCC+ 1,011(B)
2,620 Peninsula Ports Au. Res. Care Fac. Ref. Rev.
(VA Baptist Homes), Ser. 2006 C, 5.25%, due
12/1/21 2,688(^^)(B)
1,000 Virginia Beach Dev. Au. Residential Care
Fac. Mtge. Ref. Rev. (Westminster-Canterbury
of Hampton Roads, Inc.), Ser. 2005, 5.00%,
due 11/1/22 1,006(^^)(B)
----------------
4,705
----------------
WASHINGTON (12.7%)
3,000 CDP-King Co. III Lease Rev. (King Street
Ctr. Proj.), Ser. 1997, (MBIA Insured),
5.13%, due 6/1/17 Aaa AAA 3,043
1,000 Clark Co. Vancouver Sch. Dist. Number 37
G.O., Ser. 1998, 5.13%, due 12/1/12 Aa3 1,061
8,800 Energy Northwest Elec. Ref. Rev. (Proj. No.
3), Ser. 2001 A, (FSA Insured), 5.50%, due
7/1/17 Aaa AAA 9,424
5,000 King & Snohomish Cos. Northshore Sch. Dist.
Number 417 G.O., Ser. 2002, (FSA Insured),
5.50%, due 12/1/17 Aaa AAA 5,401
4,260 King Co. Pub. Trans. Sales Tax Ref. G.O.,
Ser. 2002, (FSA Insured), 5.38%, due 12/1/14 Aaa AAA 4,586
6,250 Port of Seattle Sub. Lien Rev., Ser. 2002 B,
(FGIC Insured), 5.50%, due 9/1/16 Aaa AAA 6,650
1,625 Skagit Co. Pub. Hosp. Dist. Ref. Rev., Ser.
2003, 6.00%, due 12/1/18 Baa2 1,775
2,500 Tacoma Wtr. Sys. Rev., Ser. 2001, (FGIC
Insured), 5.13%, due 12/1/19 Aaa AAA 2,621
3,125 Washington St. Hlth. Care Fac. Au. Rev.
(Yakima Valley Mem. Hosp. Assoc.), Ser.
2002, 5.00%, due 12/1/17 A 3,206(B)
1,000 Washington St. Var. Purp. G.O., Ser. 1999 A,
4.75%, due 7/1/17 Aa1 AA 1,009
----------------
38,776
----------------
WISCONSIN (5.1%)
1,475 Badger Tobacco Asset Securitization Corp.
Tobacco Settlement Asset-Backed Rev., Ser.
2002, 6.13%, due 6/1/27 Baa3 BBB 1,577
1,900 Univ. of Wisconsin Hosp. & Clinics Au. Hosp.
Rev., Ser. 2002 B, 5.50%, due 4/1/12 A1 A+ 2,007
See Notes to Schedule of Investments
NEUBERGER BERMAN JANUARY 31, 2007 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
1,370 Wisconsin Hlth. & Ed. Fac. Au. Rev. (Aurora
Med. Group, Inc. Proj.), Ser. 1996, (FSA
Insured), 6.00%, due 11/15/11 Aaa AAA 1,490(B)
7,205 Wisconsin St. G.O., Ser. 2002 C, 5.25%, due
5/1/17 Pre-Refunded 5/1/12 Aaa AAA 7,654
2,780 Wisconsin St. Hlth. & Ed. Fac. Au. Rev.
(Kenosha Hosp. & Med. Ctr., Inc. Proj.),
Ser. 1999, 5.50%, due 5/15/15 A 2,894(B)
----------------
15,622
----------------
WYOMING (1.7%)
4,895 Wyoming Community Dev. Au. Hsg. Rev., Ser. Aa1 AA+
2006 6, 5.00%, due 12/1/21 5,023
----------------
OTHER (1.6%)
2,000 MuniMae Subordinated Cumulative Perpetual
Preferred Shares, 4.70%, due 6/30/49 Putable
9/30/09 Baa2 1,991(n)
3,000 Non-Profit Pfd. Fdg. Trust I, Ser. 2006 C,
4.72%, due 9/15/37 A2 2,955
----------------
4,946
----------------
TOTAL INVESTMENTS (157.5%) (COST $467,516) 479,248(##)
Cash, receivables and other assets, less liabilities (1.5%) 4,430
Liquidation Value of Auction Market Preferred Shares [(59.0%)] (179,400)
----------------
TOTAL NET ASSETS APPLICABLE TO COMMON SHAREHOLDERS (100.0%) $304,278
----------------
See Notes to Schedule of Investments
NOTES TO SCHEDULE OF INVESTMENTS
--------------------------------
(+) Investments in securities by Neuberger Berman California Intermediate
Municipal Fund Inc. ("California"), Neuberger Berman Intermediate Municipal
Fund Inc. ("Intermediate"), and Neuberger Berman New York Intermediate
Municipal Fund Inc. ("New York") (individually a "Fund", and collectively,
the "Funds") are valued daily by obtaining bid price quotations from
independent pricing services on all securities available in each service's
data base. For all other securities, bid price quotations are obtained from
principal market makers in those securities or, if quotations are not
readily available, by methods each Fund's Board of Directors has approved
on the belief that they reflect fair value. Numerous factors may be
considered when determining the fair value of a security, including
available analyst, media or other reports, trading in futures or ADRs and
whether the issuer of the security being fair valued has other securities
outstanding. Short-term debt securities with less than 60 days until
maturity may be valued at cost which, when combined with interest earned,
approximates market value.
(##) At January 31, 2007, selected Fund information on a U.S. federal income tax
basis was as follows:
NET
(000'S OMITTED) GROSS UNREALIZED GROSS UNREALIZED UNREALIZED
NEUBERGER BERMAN COST APPRECIATION DEPRECIATION APPRECIATION
CALIFORNIA $153,567 $4,130 $36 $4,094
INTERMEDIATE 467,516 12,154 422 11,732
NEW YORK 125,618 2,752 268 2,484
(@) At time of investment, municipal securities purchased by the Funds are
within the four highest rating categories (with respect to at least 80% of
total assets) assigned by a nationally recognized statistical rating
organization ("NRSRO") such as Moody's Investors Service, Inc., Standard &
Poor's, or Fitch Investors Services, Inc. or, where not rated, are
determined by the Funds' investment manager to be of comparable quality.
Approximately 80%, 68%, and 59% of the municipal securities held by
California, Intermediate, and New York, respectively, have credit
enhancement features backing them, which the Funds may rely on, such as
letters of credit, insurance, or guarantees. Without these credit
enhancement features the securities may or may not meet the quality
standards of each Fund. Pre-refunded bonds are supported by securities in
escrow issued or guaranteed by the U.S. Government, its agencies, or
instrumentalities. The amount escrowed is sufficient to pay the periodic
interest due and the principal of these bonds. Putable bonds give the Funds
the right to sell back the issue on the date specified.
(B) Security is guaranteed by the corporate or non-profit obligor.
(n) Restricted security subject to restrictions on resale under federal
securities laws. These securities may be resold in transactions exempt from
registration, normally to qualified institutional buyers under Rule 144A
and have been deemed by the investment manager to be liquid. At January 31,
2007, these securities amounted to $4,463,000 or 1.4% of net assets
applicable to common shareholders for Intermediate.
(^^) Not rated by a NRSRO.
(u) Floating rate securities are securities whose yields vary with a designated
market index or market rate. These securities are shown at their current
rates as of January 31, 2007.
For more information on the Funds' significant accounting policies, please refer
to the Funds' most recent financial statements.
ITEM 2. CONTROLS AND PROCEDURES.
(a) Based on an evaluation of the disclosure controls and procedures (as
defined in rule 30a-3(c) under the 1940 Act) as of a date within 90 days
of the filing date of this document, the Chief Executive Officer and
Treasurer and Principal Financial and Accounting Officer of the Registrant
have concluded that such disclosure controls and procedures are
effectively designed to ensure that information required to be disclosed
by the Registrant on Form N-CSR and Form N-Q is accumulated and
communicated to the Registrant's management to allow timely decisions
regarding required disclosure.
(b) There were no significant changes in the Registrant's internal controls
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
The certifications required by Rule 30a-2(a) of the 1940 Act are filed
herewith.
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.
Neuberger Berman Intermediate Municipal Fund Inc.
By: /s/ Peter E. Sundman
-----------------------
Peter E. Sundman
Chief Executive Officer
Date: March 28, 2007
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/ Peter E. Sundman
-----------------------
Peter E. Sundman
Chief Executive Officer
Date: March 28, 2007
By: /s/ John M. McGovern
---------------------------------
John M. McGovern
Treasurer and Principal Financial
and Accounting Officer
Date: March 28, 2007