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 811-06499

 

Name of Fund: BlackRock MuniYield California Fund, Inc. (MYC)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniYield California Fund, Inc., 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: 07/31/2012

 

Date of reporting period: 10/31/2011

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments October 31, 2011 (Unaudited)

BlackRock MuniYield California Fund, Inc. (MYC)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California — 98.0%

 

 

 

 

 

 

 

Corporate — 0.3%

 

 

 

 

 

 

 

City of Chula Vista California, Refunding
RB, San Diego Gas & Electric,
Series A, 5.88%, 2/15/34

 

$

975

 

$

1,076,088

 

County/City/Special District/School District — 32.6%

 

 

 

 

 

 

 

California State Public Works Board, RB,
Various Capital Projects,
Sub-Series I-1, 6.63%, 11/01/34

 

 

5,000

 

 

5,589,750

 

Campbell Union High School District,
GO, Election of 2006, Series C,
5.75%, 8/01/40

 

 

4,000

 

 

4,422,040

 

City of Los Angeles California, COP,
Senior, Sonnenblick Del Rio West Los
Angeles (AMBAC), 6.20%, 11/01/31

 

 

2,000

 

 

2,002,600

 

City of San Jose California, RB,
Convention Center Expansion &
Renovation Project:

 

 

 

 

 

 

 

6.50%, 5/01/36

 

 

1,520

 

 

1,635,976

 

6.50%, 5/01/42

 

 

1,860

 

 

1,990,535

 

El Dorado Union High School District,
GO, Election of 2008, 5.00%,
8/01/35

 

 

5,000

 

 

5,400,300

 

El Monte Union High School District
California, GO, Election of 2002,
Series C (AGM), 5.25%, 6/01/32

 

 

10,120

 

 

10,833,359

 

Grossmont Healthcare District, GO,
Election of 2006, Series B, 6.13%,
7/15/40

 

 

2,000

 

 

2,255,660

 

Los Angeles Community College District
California, GO, Election of 2008,
Series C, 5.25%, 8/01/39

 

 

5,000

 

 

5,468,900

 

Los Angeles Municipal Improvement
Corp., RB, Real Property, Series E:

 

 

 

 

 

 

 

5.75%, 9/01/34

 

 

1,000

 

 

1,063,360

 

6.00%, 9/01/34

 

 

2,370

 

 

2,558,510

 

Los Rios Community College District,
GO, Election of 2002, Series D,
5.38%, 8/01/34

 

 

4,000

 

 

4,302,440

 

Oak Grove School District California, GO,
Election of 2008, Series A, 5.50%,
8/01/33

 

 

4,000

 

 

4,401,800

 

Ohlone Community College District, GO,
Election of 2010, Series A, 5.25%,
8/01/41

 

 

7,135

 

 

7,605,268

 

Pico Rivera Public Financing Authority,
RB:

 

 

 

 

 

 

 

5.50%, 9/01/31

 

 

1,500

 

 

1,571,775

 

5.75%, 9/01/39

 

 

6,025

 

 

6,314,441

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (continued)

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

San Diego Regional Building Authority
California, RB, County Operations
Center & Annex, Series A, 5.38%,
2/01/36

 

$

5,100

 

$

5,457,714

 

Santa Ana Unified School District, GO,
Election of 2008, Series A, 5.13%,
8/01/33

 

 

5,995

 

 

6,246,011

 

Santa Clara County Financing Authority,
Refunding LRB, Series L, 5.25%,
5/15/36

 

 

15,860

 

 

16,627,782

 

Santa Cruz County Redevelopment
Agency California, Tax Allocation
Bonds, Live Oak/Soquel Community
Improvement, Series A:

 

 

 

 

 

 

 

6.63%, 9/01/29

 

 

1,000

 

 

1,106,220

 

7.00%, 9/01/36

 

 

600

 

 

670,752

 

State of California, GO, Various Purpose,
6.00%, 11/01/39

 

 

4,635

 

 

5,160,331

 

Westminster Redevelopment Agency
California, Tax Allocation Bonds,
Subordinate, Commercial
Redevelopment Project No. 1 (AGC),
6.25%, 11/01/39

 

 

1,250

 

 

1,437,887

 

 

 

 

 

 

 

104,123,411

 

Education — 1.3%

 

 

 

 

 

 

 

California Educational Facilities
Authority, RB, Pitzer College, 6.00%,
4/01/40

 

 

2,500

 

 

2,721,850

 

California Educational Facilities
Authority, Refunding RB, San
Francisco University, 6.13%,
10/01/36

 

 

1,275

 

 

1,415,505

 

 

 

 

 

 

 

4,137,355

 

Health — 20.0%

 

 

 

 

 

 

 

ABAG Finance Authority for Nonprofit
Corps, Refunding RB, Sharp
Healthcare:

 

 

 

 

 

 

 

6.38%, 8/01/34

 

 

2,000

 

 

2,070,680

 

Series A, 6.00%, 8/01/30

 

 

2,250

 

 

2,438,010

 

California Health Facilities Financing
Authority, RB:

 

 

 

 

 

 

 

Catholic Healthcare West,
Series A, 6.00%, 7/01/39

 

 

10,000

 

 

10,701,800

 

Children’s Hospital, Series A,
5.25%, 11/01/41 (a)

 

 

5,000

 

 

4,911,050

 

Providence Health, 6.50%,
10/01/38

 

 

3,625

 

 

4,090,668

 

 

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:

 

 

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

COP

Certificates of Participation

FGIC

Financial Guaranty Insurance Co.

GO

General Obligation Bonds

LRB

Lease Revenue Bonds

NPFGC

National Public Finance Guarantee Corp.

RB

Revenue Bonds

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD CALIFORNIA FUND, INC.

OCTOBER 31, 2011

1


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield California Fund, Inc. (MYC)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (continued)

 

 

 

 

 

 

 

Health (concluded)

 

 

 

 

 

 

 

California Health Facilities Financing
Authority, RB:

 

 

 

 

 

 

 

St. Joseph Health System,
Series A, 5.50%, 7/01/29

 

$

2,100

 

$

2,190,468

 

Sutter Health, Series A,
5.00%, 11/15/42

 

 

5,225

 

 

5,119,978

 

Sutter Health, Series B,
6.00%, 8/15/42

 

 

7,530

 

 

8,210,561

 

California Statewide Communities
Development Authority, RB:

 

 

 

 

 

 

 

Health Facility, Memorial
Health Services, Series A,
6.00%, 10/01/23

 

 

3,270

 

 

3,411,002

 

Sutter Health, Series A, 6.00%,
8/15/42

 

 

7,995

 

 

8,717,588

 

California Statewide Communities
Development Authority, Refunding
RB:

 

 

 

 

 

 

 

Catholic Healthcare West,
Series D, 5.50%, 7/01/31

 

 

4,650

 

 

4,802,520

 

Senior Living, Southern
California, 6.25%, 11/15/19

 

 

500

 

 

534,415

 

Senior Living, Southern
California, 6.63%, 11/15/24

 

 

650

 

 

703,820

 

Senior Living, Southern
California, 7.00%, 11/15/29

 

 

500

 

 

541,100

 

Senior Living, Southern
California, 7.25%, 11/15/41

 

 

1,250

 

 

1,346,813

 

Trinity Health, 5.00%,
12/01/41

 

 

4,000

 

 

3,975,200

 

 

 

 

 

 

 

63,765,673

 

Housing — 1.1%

 

 

 

 

 

 

 

California Rural Home Mortgage
Finance Authority, RB, AMT:

 

 

 

 

 

 

 

Mortgage-Backed Securities
Program, Series B (Ginnie Mae),
6.15%, 6/01/20

 

 

10

 

 

10,521

 

Sub-Series FH-1, 5.50%,
8/01/47

 

 

300

 

 

138,876

 

Santa Clara County Housing Authority
California, RB, John Burns Gardens
Apartments Project, Series A, AMT,
6.00%, 8/01/41

 

 

3,500

 

 

3,503,360

 

 

 

 

 

 

 

3,652,757

 

State — 5.4%

 

 

 

 

 

 

 

California State Public Works Board,
RB:

 

 

 

 

 

 

 

Department of Developmental
Services, Porterville, Series C,
6.25%, 4/01/34

 

 

1,215

 

 

1,316,695

 

Department of Education,
Riverside Campus Project,
Series B, 6.50%, 4/01/34

 

 

10,000

 

 

11,023,600

 

Trustees of the California
State University, Series D,
6.00%, 4/01/27

 

 

215

 

 

234,148

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (continued)

 

 

 

 

 

 

 

State (concluded)

 

 

 

 

 

 

 

California State Public Works Board,
RB (concluded):

 

 

 

 

 

 

 

Various Capital Projects,
Sub-Series I-1, 6.38%,
11/01/34

 

$

4,400

 

$

4,835,996

 

 

 

 

 

 

 

17,410,439

 

Transportation — 7.7%

 

 

 

 

 

 

 

City of San Jose California, RB,
Series A-1, AMT:

 

 

 

 

 

 

 

(AGM), 5.50%, 3/01/30

 

 

1,000

 

 

1,021,140

 

(AGM), 5.75%, 3/01/34

 

 

1,000

 

 

1,043,940

 

6.25%, 3/01/34

 

 

1,400

 

 

1,512,868

 

County of Orange California, RB,
Series B, 5.75%, 7/01/34

 

 

3,000

 

 

3,255,750

 

County of Sacramento California, RB:

 

 

 

 

 

 

 

Senior Series B, 5.75%,
7/01/39

 

 

900

 

 

952,956

 

Subordinate, PFC/Grant,
Series D, 6.00%, 7/01/35

 

 

3,000

 

 

3,224,310

 

San Francisco City & County Airports
Commission, RB, Series E, 6.00%,
5/01/39

 

 

5,065

 

 

5,632,584

 

San Francisco Port Commission
California, RB, Series A, 5.13%,
3/01/40

 

 

5,000

 

 

5,141,350

 

San Joaquin County Transportation
Authority, RB, Limited Tax, Measure
K, Series A, 6.00%, 3/01/36

 

 

2,400

 

 

2,740,536

 

 

 

 

 

 

 

24,525,434

 

Utilities — 29.6%

 

 

 

 

 

 

 

City of Chula Vista California, Refunding
RB, San Diego Gas & Electric,
Series D, 5.88%, 1/01/34

 

 

4,000

 

 

4,414,720

 

City of Los Angeles California,
Refunding RB, Sub-Series A, 5.00%,
6/01/32

 

 

3,000

 

 

3,209,280

 

City of Petaluma California, Refunding
RB, 6.00%, 5/01/36

 

 

2,645

 

 

3,005,937

 

Cucamonga Valley Water District,
Refunding RB, Water Revenue,
Series A (AGM), 5.25%, 9/01/31

 

 

5,000

 

 

5,423,250

 

Dublin-San Ramon Services District,
Refunding RB, 6.00%, 8/01/41

 

 

2,420

 

 

2,672,720

 

Eastern Municipal Water District
California, COP, Series H, 5.00%,
7/01/35

 

 

8,400

 

 

8,687,952

 

Los Angeles Department of Water &
Power, RB, System, Series A:

 

 

 

 

 

 

 

5.25%, 7/01/39

 

 

4,000

 

 

4,357,880

 

5.00%, 7/01/41

 

 

7,500

 

 

7,882,200

 

Metropolitan Water District of Southern
California, Refunding RB, Series C,
5.00%, 10/01/27

 

 

10,000

 

 

11,967,600

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD CALIFORNIA FUND, INC.

OCTOBER 31, 2011

2


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield California Fund, Inc. (MYC)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (concluded)

 

 

 

 

 

 

 

Utilities (concluded)

 

 

 

 

 

 

 

Oxnard Financing Authority, RB,
Redwood Trunk Sewer & Headworks,
Series A (FGIC), 5.25%, 6/01/34

 

$

4,205

 

$

4,351,923

 

Sacramento Municipal Utility District,
RB, Cosumnes Project (NPFGC),
5.13%, 7/01/29

 

 

18,500

 

 

18,655,215

 

Sacramento Regional County Sanitation
District, Refunding RB, County
Sanitation District 1 (NPFGC), 5.00%,
8/01/35

 

 

4,260

 

 

4,402,241

 

San Diego Public Facilities Financing
Authority, Refunding RB,
Senior Series A, 5.38%, 5/15/34

 

 

3,910

 

 

4,193,749

 

San Francisco City & County Public
Utilities Commission, RB:

 

 

 

 

 

 

 

Hetch Hetchy, Sub-Series B,
5.00%, 11/01/36

 

 

1,495

 

 

1,578,092

 

Local Water Main,
Sub-Series C, 5.00%,
11/01/35

 

 

1,570

 

 

1,661,186

 

Local Water Main, Sub-Series C,
5.00%, 11/01/36

 

 

650

 

 

686,127

 

Local Water Main, Sub-Series C,
5.00%, 11/01/41

 

 

4,575

 

 

4,810,292

 

Series A, 5.13%, 11/01/39

 

 

2,295

 

 

2,422,671

 

 

 

 

 

 

 

94,383,035

 

Total Municipal Bonds – 98.0%

 

 

 

 

 

313,074,192

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond (TOB) Trusts (b)

 

 

 

 

 

 

 

California — 67.2%

 

 

 

 

 

 

 

Corporate — 8.5%

 

 

 

 

 

 

 

San Francisco Bay Area Rapid Transit
District, Refunding RB, Series A
(NPFGC), 5.00%, 7/01/30

 

 

6,000

 

 

6,329,040

 

University of California, RB:

 

 

 

 

 

 

 

Limited Project, Series B (AGM),
5.00%, 5/15/33

 

 

8,488

 

 

8,689,188

 

Series L, 5.00%, 5/15/40

 

 

11,597

 

 

11,964,316

 

 

 

 

 

 

 

26,982,544

 

County/City/Special District/School District — 30.3%

 

 

 

 

 

 

 

City of Los Angeles California, Refunding
RB, Series A, 5.00%, 6/01/39

 

 

9,870

 

 

10,391,037

 

Contra Costa Community College
District California, GO, Election of
2002 (AGM), 5.00%, 8/01/30

 

 

10,215

 

 

10,459,017

 

Fremont Unified School District
Alameda County California, GO,
Election of 2002, Series B (AGM),
5.00%, 8/01/30

 

 

4,003

 

 

4,121,265

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond (TOB) Trusts (b)

 

Par
(000)

 

Value

 

California (concluded)

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

Los Angeles Community College District
California, GO:

 

 

 

 

 

 

 

Election of 2001, Series E-1,
5.00%, 8/01/33

 

$

14,850

 

$

15,657,098

 

Election of 2003, Series E (AGM),
5.00%, 8/01/31

 

 

10,002

 

 

10,429,829

 

Election of 2008, Series C,
5.25%, 8/01/39

 

 

9,680

 

 

10,587,790

 

Series A, 6.00%, 8/01/33

 

 

3,828

 

 

4,364,023

 

Orange County Sanitation District, COP
(NPFGC), 5.00%, 2/01/33

 

 

9,348

 

 

9,505,360

 

San Diego Community College District
California, GO, Election of 2002,
5.25%, 8/01/33

 

 

7,732

 

 

8,424,264

 

San Francisco Bay Area Transit
Financing Authority, Refunding RB,
Series A (NPFGC), 5.00%, 7/01/34

 

 

5,439

 

 

5,633,329

 

Sonoma County Junior College District,
GO, Refunding, Election of 2002,
Series B (AGM), 5.00%, 8/01/28

 

 

6,875

 

 

7,300,663

 

 

 

 

 

 

 

96,873,675

 

Education — 9.1%

 

 

 

 

 

 

 

California Educational Facilities
Authority, RB, University of Southern
California, Series A, 5.25%, 10/01/39

 

 

13,845

 

 

14,959,384

 

Peralta Community College District, GO,
Election of 2000, Series D (AGM),
5.00%, 8/01/30

 

 

1,995

 

 

2,044,835

 

University of California, RB:

 

 

 

 

 

 

 

Series L, 5.00%, 5/15/36

 

 

8,500

 

 

8,786,110

 

Series O, 5.75%, 5/15/34

 

 

2,805

 

 

3,139,132

 

 

 

 

 

 

 

28,929,461

 

Utilities — 19.3%

 

 

 

 

 

 

 

Eastern Municipal Water District, COP,
Series H, 5.00%, 7/01/33

 

 

4,748

 

 

4,933,041

 

Los Angeles Department of Water &
Power, RB:

 

 

 

 

 

 

 

Power System, Sub-Series A-1
(AMBAC), 5.00%, 7/01/37

 

 

15,098

 

 

15,631,165

 

System, Sub-Series A-2 (AGM),
5.00%, 7/01/35

 

 

7,250

 

 

7,480,695

 

Metropolitan Water District of Southern
California, RB:

 

 

 

 

 

 

 

Series A, 5.00%, 7/01/37

 

 

20,000

 

 

21,066,200

 

Series C, 5.00%, 7/01/35

 

 

7,145

 

 

7,455,273

 

San Diego County Water Authority, COP,
Series A (AGM), 5.00%, 5/01/31

 

 

5,010

 

 

5,158,947

 

 

 

 

 

 

 

61,725,321

 

Total Municipal Bonds Transferred to
Tender Option Bond (TOB) Trusts –
67.2%

 

 

 

 

 

214,511,001

 

Total Long-Term Investments
(Cost – $508,201,216) – 165.2%

 

 

 

 

 

527,585,193

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD CALIFORNIA FUND, INC.

OCTOBER 31, 2011

3


 

 

 

 

Schedule of Investments (concluded)

BlackRock MuniYield California Fund, Inc. (MYC)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

Value

 

 

 

 

 

 

 

 

 

BIF California Municipal Money
Fund, 0.00% (c)(d)

 

 

5,429,818

 

$

5,429,818

 

Total Short-Term Securities
(Cost – $5,429,818) – 1.7%

 

 

 

 

 

5,429,818

 

Total Investments
(Cost - $513,631,034*) – 166.9%

 

 

 

 

 

533,015,011

 

Other Assets Less Liabilities – 0.4%

 

 

 

 

 

1,181,522

 

Liability for TOB Trust Certificates, Including Interest
Expense and Fees Payable – (34.1)%

 

 

 

 

 

(108,936,456

)

VRDP Shares, at Liquidation Value – (33.2)%

 

 

 

 

 

(105,900,002

)

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

319,360,075

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of October 31, 2011, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

Aggregate cost

 

$

404,566,836

 

Gross unrealized appreciation

 

$

20,312,689

 

Gross unrealized depreciation

 

 

(742,017

)

Net unrealized appreciation

 

$

19,570,672

 

 

 

(a)

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

 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation

 

Morgan Stanley Co.

 

$

4,911,050

 

$

21,900

 

 

 

(b)

Securities represent bonds transferred to a TOB in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

 

(c)

Investments in companies considered to be an affiliate of the Fund 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, 2011

 

Net
Activity

 

Shares
Held at
October 31,
2011

 

Income

 

 

BIF California
Municipal
Money Fund

 

 

5,041,430

 

 

388,388

 

 

5,429,818

 

$

—

 

 

 

(d)

Represents the current yield as of report date.

 

 

 

•

For Fund compliance purposes, the Fund’s sector classifications refer to any one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by Fund management. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments. These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

 

 

•

Level 1 — unadjusted 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 Fund’s own assumptions used in determining the fair value of investments)

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The categorization of a value determined for investments is based on the pricing transparency of the investment and does not necessarily correspond to the Fund’s perceived risk of investing in those securities. For information about the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its annual report.

The following table summarizes the inputs used as of October 31, 2011 in determining the fair valuation of the Fund’s investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term
Investments1

 

 

—

 

$

527,585,193

 

 

—

 

$

527,585,193

 

Short-Term
Securities

 

$

5,429,818

 

 

—

 

 

—

 

 

5,429,818

 

Total

 

$

5,429,818

 

$

527,585,193

 

 

—

 

$

533,015,011

 

 

 

1

See above Schedule of Investments for values in each sector.

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD CALIFORNIA FUND, INC.

OCTOBER 31, 2011

4

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 MuniYield California Fund, Inc.

 

 

 

 By: /s/ John M. Perlowski

 

 

 

John M. Perlowski

 

 

Chief Executive Officer (principal executive officer) of

 

 

BlackRock MuniYield California Fund, Inc.

 

 

 

Date: December 21, 2011

 

 

 

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/ John M. Perlowski

 

 

 

John M. Perlowski

 

 

Chief Executive Officer (principal executive officer) of

 

 

BlackRock MuniYield California Fund, Inc.

 

 

 

Date: December 21, 2011

 

 

 

 By: /s/ Neal J. Andrews

 

 

 

Neal J. Andrews

 

 

Chief Financial Officer (principal financial officer) of

 

 

BlackRock MuniYield California Fund, Inc.

 

 

 

 

Date: December 21, 2011