UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
811-09141
Investment Company Act File Number
Eaton Vance Municipal Income Trust
(Exact Name of Registrant as Specified in Charter)
Two International Place, Boston, Massachusetts 02110
(Address of Principal Executive Offices)
Maureen A. Gemma
Two International Place, Boston, Massachusetts 02110
(Name and Address of Agent for Services)
(617) 482-8260
(Registrant’s Telephone Number, Including Area Code)
November 30
Date of Fiscal Year End
August 31, 2018
Date of Reporting Period
Item 1. Schedule of Investments
Eaton Vance
Municipal Income Trust
August 31, 2018
PORTFOLIO OF INVESTMENTS (Unaudited)
Tax-Exempt Municipal Securities — 162.7%
| Security | Principal Amount (000’s omitted) |
Value | ||||||
| Cogeneration — 0.9% |
| |||||||
| New York City Industrial Development Agency, NY, (Brooklyn Navy Yard Cogeneration Partners, L.P.), (AMT), 5.65%, 10/1/28 |
$ | 2,825 | $ | 2,851,131 | ||||
| Northampton County Industrial Development Authority, PA, (Northampton Generating), (AMT), 5.00%, 12/31/23(1) |
252 | 75,625 | ||||||
|
|
|
|||||||
| $ | 2,926,756 | |||||||
|
|
|
|||||||
| Education — 12.1% |
| |||||||
| California State University, 5.00%, 11/1/43(2) |
$ | 13,000 | $ | 15,261,090 | ||||
| Florida Higher Educational Facilities Financing Authority, (Jacksonville University), 5.00%, 6/1/48(3) |
250 | 264,195 | ||||||
| Massachusetts Development Finance Agency, (Boston University), 6.00%, 5/15/59 |
5,580 | 6,927,346 | ||||||
| New York Dormitory Authority, (Cornell University), 5.00%, 7/1/39(2) |
10,500 | 10,775,415 | ||||||
| New York Dormitory Authority, (The New School), Prerefunded to 7/1/20, 5.75%, 7/1/50 |
4,000 | 4,284,880 | ||||||
|
|
|
|||||||
| $ | 37,512,926 | |||||||
|
|
|
|||||||
| Electric Utilities — 5.2% |
| |||||||
| Apache County Industrial Development Authority, AZ, (Tucson Electric Power Co.), 4.50%, 3/1/30 |
$ | 1,685 | $ | 1,795,182 | ||||
| Hawaii Department of Budget and Finance, (Hawaiian Electric Co.), 6.50%, 7/1/39 |
2,540 | 2,630,322 | ||||||
| Hawaii Department of Budget and Finance, (Hawaiian Electric Co.), (AMT), 4.00%, 3/1/37 |
1,250 | 1,269,800 | ||||||
| Indiana Financing Authority, (Duke Energy Indiana, Inc.), 6.00%, 8/1/39 |
1,000 | 1,038,640 | ||||||
| Los Angeles Department of Water and Power, CA, Power System Revenue, 4.00%, 7/1/46(2) |
9,000 | 9,276,390 | ||||||
|
|
|
|||||||
| $ | 16,010,334 | |||||||
|
|
|
|||||||
| Escrowed/Prerefunded — 4.3% |
| |||||||
| Brooklyn Arena Local Development Corp., NY, (Barclays Center), Prerefunded to 1/15/20, 6.00%, 7/15/30 |
$ | 785 | $ | 831,739 | ||||
| Brooklyn Arena Local Development Corp., NY, (Barclays Center), Prerefunded to 1/15/20, 6.25%, 7/15/40 |
880 | 935,352 | ||||||
| Brooklyn Arena Local Development Corp., NY, (Barclays Center), Prerefunded to 1/15/20, 6.375%, 7/15/43 |
480 | 510,994 | ||||||
| Hawaii Department of Budget and Finance, (Hawaii Pacific Health Obligated Group), Prerefunded to 7/1/20, 5.50%, 7/1/40 |
1,870 | 1,996,917 | ||||||
| Illinois Finance Authority, (Provena Healthcare), Prerefunded to 8/15/19, 7.75%, 8/15/34 |
3,250 | 3,432,747 | ||||||
| Massachusetts Development Finance Agency, (Tufts Medical Center), Prerefunded to 1/1/21, 6.75%, 1/1/36 |
920 | 1,023,316 | ||||||
| Miami-Dade County, FL, (Miami International Airport), Prerefunded to 10/1/19, 5.50%, 10/1/36 |
2,715 | 2,826,206 | ||||||
| Onondaga Civic Development Corp., NY, (St. Joseph’s Hospital Health Center), Prerefunded to 7/1/22, 5.00%, 7/1/42 |
1,675 | 1,864,208 | ||||||
|
|
|
|||||||
| $ | 13,421,479 | |||||||
|
|
|
|||||||
| General Obligations — 14.4% |
| |||||||
| Chicago, IL, 5.75%, 1/1/33 |
$ | 1,500 | $ | 1,681,920 | ||||
| Frisco Independent School District, TX, (PSF Guaranteed), 5.00%, 8/15/37(2) |
9,000 | 9,698,490 | ||||||
1
| Security | Principal Amount (000’s omitted) |
Value | ||||||
| Illinois, 5.00%, 5/1/33 |
$ | 5,000 | $ | 5,181,400 | ||||
| Illinois, 5.00%, 5/1/39 |
3,035 | 3,171,970 | ||||||
| Klein Independent School District, TX, (PSF Guaranteed), 5.00%, 2/1/36(2) |
3,250 | 3,462,810 | ||||||
| Leander Independent School District, TX, (PSF Guaranteed), 0.00%, 8/15/39 |
17,900 | 7,241,982 | ||||||
| Massachusetts, 5.00%, 9/1/38(4) |
8,000 | 9,289,680 | ||||||
| New York, 5.00%, 2/15/34(2) |
2,500 | 2,676,175 | ||||||
| Port of Houston Authority of Harris County, TX, (AMT), 5.625%, 10/1/38(2) |
2,340 | 2,346,107 | ||||||
|
|
|
|||||||
| $ | 44,750,534 | |||||||
|
|
|
|||||||
| Hospital — 23.1% |
| |||||||
| California Health Facilities Financing Authority, (Providence Health System), 5.50%, 10/1/39(2) |
$ | 10,000 | $ | 10,397,600 | ||||
| California Health Facilities Financing Authority, (St. Joseph Health System), 5.00%, 7/1/37 |
440 | 489,240 | ||||||
| California Health Facilities Financing Authority, (Sutter Health Obligation Group), 5.00%, 8/15/52(2) |
10,000 | 10,869,400 | ||||||
| Camden County Improvement Authority, NJ, (Cooper Health System), 5.75%, 2/15/42 |
1,335 | 1,450,745 | ||||||
| Illinois Finance Authority, (Presence Health Network), 3.75%, 2/15/34 |
2,545 | 2,548,614 | ||||||
| Illinois Finance Authority, (Presence Health Network), 4.00%, 2/15/36 |
2,500 | 2,585,125 | ||||||
| Illinois Finance Authority, (Presence Health Network), 5.00%, 2/15/36 |
1,000 | 1,134,630 | ||||||
| Lehigh County General Purpose Authority, PA, (Lehigh Valley Health Network), 4.00%, 7/1/35 |
1,185 | 1,197,656 | ||||||
| Massachusetts Development Finance Agency, (Children’s Hospital), 5.00%, 10/1/46(2) |
10,000 | 11,049,900 | ||||||
| Massachusetts Development Finance Agency, (Tufts Medical Center), 6.75%, 1/1/36 |
615 | 678,431 | ||||||
| New York Dormitory Authority, (Orange Regional Medical Center), 5.00%, 12/1/36(3) |
800 | 878,888 | ||||||
| North Carolina Medical Care Commission, (North Carolina Baptist Hospital), |
11,400 | 12,037,716 | ||||||
| Oklahoma Development Finance Authority, (OU Medicine), 5.00%, 8/15/38 |
425 | 470,237 | ||||||
| Oklahoma Development Finance Authority, (OU Medicine), 5.25%, 8/15/43 |
1,265 | 1,419,039 | ||||||
| South Lake County Hospital District, FL, (South Lake Hospital), 6.25%, 4/1/39 |
1,570 | 1,601,667 | ||||||
| Southeastern Ohio Port Authority, (Memorial Health System Obligated Group), 5.00%, 12/1/43 |
785 | 809,539 | ||||||
| Southeastern Ohio Port Authority, (Memorial Health System Obligated Group), 5.50%, 12/1/43 |
670 | 715,426 | ||||||
| Tampa, FL, (BayCare Health System), 4.00%, 11/15/46(2) |
10,000 | 10,151,900 | ||||||
| West Virginia Hospital Finance Authority, (West Virginia United Health System Obligated Group), 5.375%, 6/1/38 |
1,000 | 1,096,730 | ||||||
|
|
|
|||||||
| $ | 71,582,483 | |||||||
|
|
|
|||||||
| Housing — 1.6% |
| |||||||
| Centerline Equity Issuer Trust, TN, 6.00%, 10/31/52(3) |
$ | 4,000 | $ | 4,106,920 | ||||
| New Hope Cultural Education Facilities Finance Corp., TX, (CHF-Collegiate Housing Stephenville III, LLC - Tarleton State University), 5.00%, 4/1/47 |
555 | 588,095 | ||||||
| Texas Student Housing Corp., (University of Northern Texas), 6.85%, 7/1/31 |
180 | 176,299 | ||||||
|
|
|
|||||||
| $ | 4,871,314 | |||||||
|
|
|
|||||||
| Industrial Development Revenue — 6.7% |
| |||||||
| Clayton County Development Authority, GA, (Delta Air Lines, Inc.), 8.75%, 6/1/29 |
$ | 400 | $ | 441,316 | ||||
| Essex County Improvement Authority, NJ, (Covanta), (AMT), 5.25%, 7/1/45(3) |
4,390 | 4,433,681 | ||||||
| Luzerne County Industrial Development Authority, PA, (Pennsylvania-American Water Co.), 5.50%, 12/1/39 |
1,600 | 1,669,952 | ||||||
| Maine Finance Authority, (Casella Waste Systems, Inc.), (AMT), 5.125% to 8/1/25 (Put Date), 8/1/35(3) |
1,075 | 1,112,518 | ||||||
| National Finance Authority, NH, (Covanta), 4.625%, 11/1/42(3)(4) |
1,335 | 1,341,995 | ||||||
| National Finance Authority, NH, (Covanta), (AMT), 4.875%, 11/1/42(3)(4) |
1,470 | 1,478,261 | ||||||
2
| Security | Principal Amount (000’s omitted) |
Value | ||||||
| New Jersey Economic Development Authority, (Continental Airlines), (AMT), 5.25%, 9/15/29 |
$ | 4,680 | $ | 5,086,177 | ||||
| New Jersey Economic Development Authority, (Continental Airlines), Series 2000A, (AMT), 5.625%, 11/15/30 |
1,005 | 1,136,545 | ||||||
| New Jersey Economic Development Authority, (Continental Airlines), Series 2000B, (AMT), 5.625%, 11/15/30 |
1,715 | 1,939,476 | ||||||
| Rockdale County Development Authority, GA, (Pratt Paper, LLC), (AMT), 4.00%, 1/1/38(3) |
535 | 539,542 | ||||||
| Vermont Economic Development Authority, (Casella Waste Systems, Inc.), (AMT), |
300 | 299,874 | ||||||
| Washington Economic Development Finance Authority, (Columbia Pulp I, LLC), (AMT), 7.50%, 1/1/32(3) |
1,130 | 1,295,658 | ||||||
|
|
|
|||||||
| $ | 20,774,995 | |||||||
|
|
|
|||||||
| Insured-Escrowed/Prerefunded — 0.9% |
| |||||||
| Iowa Finance Authority, Health Facilities, (Iowa Health System), (AGC), Prerefunded to 8/15/19, 5.625%, 8/15/37 |
$ | 2,625 | $ | 2,720,602 | ||||
|
|
|
|||||||
| $ | 2,720,602 | |||||||
|
|
|
|||||||
| Insured-Other Revenue — 0.7% |
| |||||||
| Harris County-Houston Sports Authority, TX, (AGM), (NPFG), 0.00%, 11/15/34 |
$ | 4,210 | $ | 2,135,186 | ||||
|
|
|
|||||||
| $ | 2,135,186 | |||||||
|
|
|
|||||||
| Insured-Special Tax Revenue — 7.4% |
| |||||||
| Miami-Dade County, FL, Professional Sports Franchise Facilities, (AGC), 0.00%, 10/1/37 |
$ | 30,800 | $ | 13,518,428 | ||||
| Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/43 |
29,510 | 8,253,652 | ||||||
| Tolomato Community Development District, FL, (AGM), 3.75%, 5/1/39 |
1,080 | 1,054,123 | ||||||
|
|
|
|||||||
| $ | 22,826,203 | |||||||
|
|
|
|||||||
| Insured-Student Loan — 0.4% |
| |||||||
| Maine Educational Loan Authority, (AGC), 5.625%, 12/1/27 |
$ | 1,185 | $ | 1,213,298 | ||||
|
|
|
|||||||
| $ | 1,213,298 | |||||||
|
|
|
|||||||
| Insured-Transportation — 14.1% |
| |||||||
| Alameda Corridor Transportation Authority, CA, (NPFG), 0.00%, 10/1/33 |
$ | 12,425 | $ | 6,993,287 | ||||
| Chicago, IL, (O’Hare International Airport), (AGM), 5.50%, 1/1/43 |
935 | 1,042,301 | ||||||
| Clark County, NV, (Las Vegas-McCarran International Airport), (AGM), 5.25%, 7/1/39 |
3,850 | 4,019,593 | ||||||
| New York Transportation Development Corp., (LaGuardia Airport Terminal B Redevelopment), (AGM), (AMT), 4.00%, 7/1/37 |
5,375 | 5,455,732 | ||||||
| New York Transportation Development Corp., (LaGuardia Airport Terminal B Redevelopment), (AGM), (AMT), 4.00%, 7/1/41 |
1,430 | 1,447,732 | ||||||
| New York Transportation Development Corp., (LaGuardia Airport Terminal B Redevelopment), (AGM), (AMT), 4.00%, 1/1/51 |
5,075 | 5,111,489 | ||||||
| North Carolina Turnpike Authority, (AGC), 0.00%, 1/1/34 |
15,000 | 8,425,500 | ||||||
| Pennsylvania Turnpike Commission, (AGM), 6.375%, 12/1/38 |
2,500 | 3,105,500 | ||||||
| Puerto Rico Highway and Transportation Authority, (AGC), 5.25%, 7/1/41 |
4,425 | 5,326,550 | ||||||
| Puerto Rico Highway and Transportation Authority, (AGM), 5.50%, 7/1/31 |
2,370 | 2,842,080 | ||||||
|
|
|
|||||||
| $ | 43,769,764 | |||||||
|
|
|
|||||||
| Insured-Water and Sewer — 11.7% |
| |||||||
| DeKalb County, GA, Water and Sewerage Revenue, (AGM), 5.00%, 10/1/35(2) |
$ | 17,985 | $ | 20,657,571 | ||||
| Jefferson County, AL, Sewer Revenue, (AGM), 0.00%, 10/1/34 |
6,000 | 2,545,080 | ||||||
| Jefferson County, AL, Sewer Revenue, (AGM), 0.00%, 10/1/35 |
6,680 | 2,650,758 | ||||||
3
| Security | Principal Amount (000’s omitted) |
Value | ||||||
| Jefferson County, AL, Sewer Revenue, (AGM), 0.00%, 10/1/36 |
$ | 7,000 | $ | 2,598,610 | ||||
| Jefferson County, AL, Sewer Revenue, (AGM), 5.00%, 10/1/44 |
3,750 | 4,086,825 | ||||||
| Puerto Rico Aqueduct and Sewer Authority, (AGC), 5.00%, 7/1/28 |
3,640 | 3,779,958 | ||||||
|
|
|
|||||||
| $ | 36,318,802 | |||||||
|
|
|
|||||||
| Lease Revenue/Certificates of Participation — 0.9% |
||||||||
| Hudson Yards Infrastructure Corp., NY, 5.75%, 2/15/47 |
$ | 815 | $ | 883,884 | ||||
| New Jersey Health Care Facilities Financing Authority, (Hospital Asset Transformation Program), Prerefunded to 10/1/19, 5.75%, 10/1/31 |
1,735 | 1,807,800 | ||||||
|
|
|
|||||||
| $ | 2,691,684 | |||||||
|
|
|
|||||||
| Other Revenue — 2.5% |
||||||||
| Central Falls Detention Facility Corp., RI, 7.25%, 7/15/35(5) |
$ | 1,925 | $ | 346,500 | ||||
| Cleveland-Cuyahoga County Port Authority, OH, (Playhouse Square Foundation), 5.50%, 12/1/43 |
110 | 121,987 | ||||||
| Kalispel Tribe of Indians, WA, 5.25%, 1/1/38(3) |
485 | 505,661 | ||||||
| Salt Verde Financial Corp., AZ, Senior Gas Revenue, 5.00%, 12/1/37 |
5,000 | 5,942,250 | ||||||
| White Earth Band of Chippewa Indians, MN, 6.375%, 12/1/26(3) |
1,000 | 1,000,930 | ||||||
|
|
|
|||||||
| $ | 7,917,328 | |||||||
|
|
|
|||||||
| Senior Living/Life Care — 8.1% |
||||||||
| District of Columbia, (Ingleside at Rock Creek), 3.875%, 7/1/24 |
$ | 430 | $ | 430,077 | ||||
| District of Columbia, (Ingleside at Rock Creek), 5.00%, 7/1/32 |
250 | 267,075 | ||||||
| Douglas County Hospital Authority No. 2, NE, (Immanuel Obligated Group), 5.50%, 1/1/30 |
535 | 557,224 | ||||||
| Douglas County Hospital Authority No. 2, NE, (Immanuel Obligated Group), 5.625%, 1/1/40 |
1,075 | 1,117,097 | ||||||
| Lancaster County Hospital Authority, PA, (Brethren Village), 5.00%, 7/1/32 |
725 | 790,794 | ||||||
| Logan County, CO, (TLC Care Choices, Inc.), 6.875%, 12/1/23(6) |
3,109 | 839,338 | ||||||
| Multnomah County Hospital Facilities Authority, OR, (Mirabella at South Waterfront), 5.40%, 10/1/44 |
1,480 | 1,578,361 | ||||||
| New Hope Cultural Education Facilities Finance Corp., TX, (Longhorn Village), 5.00%, 1/1/31 |
1,415 | 1,522,215 | ||||||
| New Hope Cultural Education Facilities Finance Corp., TX, (Longhorn Village), 5.00%, 1/1/32 |
1,485 | 1,592,425 | ||||||
| Palm Beach County Health Facilities Authority, FL, (Sinai Residences of Boca Raton), 7.25%, 6/1/39 |
740 | 843,511 | ||||||
| Palm Beach County Health Facilities Authority, FL, (Sinai Residences of Boca Raton), 7.50%, 6/1/49 |
3,650 | 4,186,587 | ||||||
| Savannah Economic Development Authority, GA, (Marshes Skidaway), 7.125%, 1/1/38 |
4,960 | 5,589,722 | ||||||
| Tarrant County Cultural Education Facilities Finance Corp., TX, (Trinity Terrace), 5.00%, 10/1/44 |
1,750 | 1,860,915 | ||||||
| Tarrant County Cultural Education Facilities Finance Corp., TX, (Trinity Terrace), 5.00%, 10/1/49 |
2,500 | 2,651,500 | ||||||
| Tempe Industrial Development Authority, AZ, (Friendship Village of Tempe), 6.00%, 12/1/32 |
335 | 357,659 | ||||||
| Tempe Industrial Development Authority, AZ, (Friendship Village of Tempe), 6.25%, 12/1/42 |
985 | 1,053,477 | ||||||
|
|
|
|||||||
| $ | 25,237,977 | |||||||
|
|
|
|||||||
| Special Tax Revenue — 19.5% |
||||||||
| New River Community Development District, FL, (Capital Improvements), 5.00%, 5/1/13(5) |
$ | 90 | $ | 0 | ||||
| New River Community Development District, FL, (Capital Improvements), 5.35%, 5/1/38(5) |
35 | 0 | ||||||
| New River Community Development District, FL, (Capital Improvements), Series 2010A-2, 5.75%, 5/1/38 |
145 | 144,995 | ||||||
| New York City Transitional Finance Authority, NY, Future Tax Revenue, 5.00%, 8/1/39(2) |
12,400 | 13,918,132 | ||||||
4
| Security | Principal Amount (000’s omitted) |
Value | ||||||
| New York City Transitional Finance Authority, NY, Future Tax Revenue, 5.50%, 11/1/35 |
$ | 845 | $ | 910,234 | ||||
| New York City Transitional Finance Authority, NY, Future Tax Revenue, 5.50%, 11/1/35(2) |
2,820 | 3,037,704 | ||||||
| New York City Transitional Finance Authority, NY, Future Tax Revenue, Prerefunded to 11/1/20, 5.50%, 11/1/35 |
655 | 706,287 | ||||||
| New York City Transitional Finance Authority, NY, Future Tax Revenue, Prerefunded to 11/1/20, 5.50%, 11/1/35(2) |
2,180 | 2,350,694 | ||||||
| New York Dormitory Authority, Personal Income Tax Revenue, 5.00%, 3/15/34(2) |
10,000 | 11,278,700 | ||||||
| New York Dormitory Authority, Sales Tax Revenue, 5.00%, 3/15/43(2) |
14,100 | 16,207,527 | ||||||
| Southern Hills Plantation I Community Development District, FL, Series A1, 5.80%, 5/1/35 |
243 | 242,483 | ||||||
| Southern Hills Plantation I Community Development District, FL, Series A2, 5.80%, 5/1/35 |
175 | 160,302 | ||||||
| Sterling Hill Community Development District, FL, 6.20%, 5/1/35 |
552 | 353,135 | ||||||
| Texas Transportation Commission, 5.00%, 4/1/33(2) |
10,000 | 11,326,000 | ||||||
|
|
|
|||||||
| $ | 60,636,193 | |||||||
|
|
|
|||||||
| Transportation — 15.6% |
||||||||
| Central Texas Regional Mobility Authority, Prerefunded to 1/1/21, 5.75%, 1/1/31 |
$ | 435 | $ | 472,440 | ||||
| Central Texas Regional Mobility Authority, Series 2015A, 5.00%, 1/1/40 |
1,395 | 1,526,270 | ||||||
| Dallas and Fort Worth, TX, (Dallas/Fort Worth International Airport), 5.25%, 11/1/30 |
1,030 | 1,164,580 | ||||||
| Dallas and Fort Worth, TX, (Dallas/Fort Worth International Airport), 5.25%, 11/1/31 |
1,735 | 1,959,006 | ||||||
| Dallas and Fort Worth, TX, (Dallas/Fort Worth International Airport), (AMT), 5.00%, 11/1/38 |
3,200 | 3,373,664 | ||||||
| Memphis-Shelby County Airport Authority, TN, (AMT), 5.75%, 7/1/24 |
400 | 425,732 | ||||||
| New Jersey Transportation Trust Fund Authority, (Transportation Program), |
5,000 | 5,018,700 | ||||||
| New York Liberty Development Corp., (1 World Trade Center Port Authority Construction), 5.00%, 12/15/41(2) |
7,880 | 8,534,828 | ||||||
| New York Transportation Development Corp., (LaGuardia Airport Terminal B Redevelopment), (AMT), 5.00%, 7/1/46 |
1,055 | 1,126,191 | ||||||
| Pennsylvania Economic Development Financing Authority, (Amtrak), (AMT), 5.00%, 11/1/41 |
3,910 | 4,155,040 | ||||||
| Port Authority of New York and New Jersey, (AMT), 4.00%, 9/1/33(2) |
7,200 | 7,475,832 | ||||||
| Port Authority of New York and New Jersey, (AMT), 4.50%, 4/1/37(2) |
8,500 | 8,782,880 | ||||||
| Texas Private Activity Bond Surface Transportation Corp., (LBJ Express Managed Lanes Project), 7.00%, 6/30/34 |
1,885 | 2,038,024 | ||||||
| Texas Private Activity Bond Surface Transportation Corp., (North Tarrant Express Managed Lanes Project), 6.875%, 12/31/39 |
1,725 | 1,825,257 | ||||||
| Texas Transportation Commission, (Central Texas Turnpike System), 5.00%, 8/15/42 |
640 | 689,683 | ||||||
|
|
|
|||||||
| $ | 48,568,127 | |||||||
|
|
|
|||||||
| Water and Sewer — 12.6% |
||||||||
| Atlanta, GA, Water and Wastewater Revenue, 5.00%, 11/1/40(2) |
$ | 10,000 | $ | 11,204,500 | ||||
| Atlanta, GA, Water and Wastewater Revenue, 5.00%, 11/1/47(2) |
14,100 | 16,160,151 | ||||||
| Detroit, MI, Sewage Disposal System, 5.25%, 7/1/39 |
1,860 | 2,016,296 | ||||||
| Detroit, MI, Water Supply System, 5.25%, 7/1/41 |
4,730 | 5,071,459 | ||||||
| Michigan Finance Authority, (Detroit Water and Sewerage Department), 5.00%, 7/1/34 |
4,130 | 4,514,957 | ||||||
|
|
|
|||||||
| $ | 38,967,363 | |||||||
|
|
|
|||||||
| Total Tax-Exempt Municipal Securities —
162.7% |
$ | 504,853,348 | ||||||
|
|
|
|||||||
5
| Taxable Municipal Securities — 5.8% |
||||||||
| Security | Principal Amount (000’s omitted) |
Value | ||||||
| Cogeneration — 0.0%(8) |
||||||||
| Northampton County Industrial Development Authority, PA, (Northampton Generating), 5.00%, 12/31/23(1) |
$ | 46 | $ | 13,760 | ||||
|
|
|
|||||||
| $ | 13,760 | |||||||
|
|
|
|||||||
| General Obligations — 3.4% |
||||||||
| Atlantic City, NJ, 7.50%, 3/1/40 |
$ | 5,435 | $ | 7,314,314 | ||||
| Chicago, IL, 7.75%, 1/1/42 |
2,885 | 3,146,381 | ||||||
|
|
|
|||||||
| $ | 10,460,695 | |||||||
|
|
|
|||||||
| Hospital — 2.0% |
||||||||
| California Statewide Communities Development Authority, (Loma Linda University Medical Center), 6.00%, 12/1/24 |
$ | 6,000 | $ | 6,340,680 | ||||
|
|
|
|||||||
| $ | 6,340,680 | |||||||
|
|
|
|||||||
| Insured-Transportation — 0.4% |
||||||||
| Alameda Corridor Transportation Authority, CA, (AMBAC), 0.00%, 10/1/32 |
$ | 1,285 | $ | 636,049 | ||||
| Alameda Corridor Transportation Authority, CA, (AMBAC), 0.00%, 10/1/33 |
1,000 | 454,650 | ||||||
|
|
|
|||||||
| $ | 1,090,699 | |||||||
|
|
|
|||||||
| Total Taxable Municipal Securities — 5.8% |
$ | 17,905,834 | ||||||
|
|
|
|||||||
| Total Investments — 168.5% |
$ | 522,759,182 | ||||||
|
|
|
|||||||
| Institutional MuniFund Term Preferred Shares, at Liquidation Value |
$ | (34,879,596 | ) | |||||
|
|
|
|||||||
| Other Assets, Less Liabilities — (57.3)% |
$ | (177,575,449 | ) | |||||
|
|
|
|||||||
| Net Assets Applicable to Common Shares — 100.0% |
$ | 310,304,137 | ||||||
|
|
|
|||||||
The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares.
At August 31, 2018, the concentration of the Trust’s investments in the various states and territories, determined as a percentage of total investments, is as follows:
| New York |
21.6 | % | ||
| California |
11.6 | % | ||
| Texas |
11.0 | % | ||
| Georgia |
10.5 | % | ||
| Others, representing less than 10% individually |
45.3 | % |
The Trust invests primarily in debt securities issued by municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at August 31, 2018, 21.1% 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 or financial guaranty assurance agency ranged from 0.2% to 11.2% of total investments.
6
| (1) | Represents a payment-in-kind security which may pay interest in additional principal at the issuer’s discretion. |
| (2) | Security represents the municipal bond held by a trust that issues residual interest bonds. |
| (3) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At August 31, 2018, the aggregate value of these securities is $17,258,123 or 5.6% of the Trust’s net assets applicable to common shares. |
| (4) | When-issued security. |
| (5) | Issuer is in default with respect to interest and/or principal payments. |
| (6) | Security is in default and making only partial interest payments. |
| (7) | Floating rate security. The stated interest rate represents the rate in effect at August 31, 2018. |
| (8) | Amount is less than 0.05%. |
Abbreviations:
The Trust did not have any open derivative instruments at August 31, 2018.
Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.
| • | 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) |
In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
At August 31, 2018, the hierarchy of inputs used in valuing the Trust’s investments, which are carried at value, were as follows:
| Asset Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Tax-Exempt Municipal Securities |
$ | — | $ | 504,853,348 | $ | — | $ | 504,853,348 | ||||||||
| Taxable Municipal Securities |
— | 17,905,834 | — | 17,905,834 | ||||||||||||
| Total Investments |
$ | — | $ | 522,759,182 | $ | — | $ | 522,759,182 | ||||||||
For information on the Trust’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Trust’s most recent financial statements included in its semiannual or annual report to shareholders.
7
Proposed Plan of Reorganizations
In July 2018, the Trustees of the Trust approved Agreements and Plan of Reorganizations (the Agreements) whereby the Trust would acquire substantially all the assets and assume substantially all the liabilities of Eaton Vance Massachusetts Municipal Income Trust, Eaton Vance New Jersey Municipal Income Trust, Eaton Vance Ohio Municipal Income Trust and Eaton Vance Pennsylvania Income Trust (each an “Acquired Trust”) in exchange for common shares of the Trust. Each proposed reorganization is subject to approval by the shareholders of the respective Acquired Trust.
8
Item 2. Controls and Procedures
(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant on this form N-Q has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant on this form N-Q has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
(b) There have been no changes in the registrant’s internal controls over financial reporting during the fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.
Item 3. Exhibits
A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act is attached hereto.
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.
Eaton Vance Municipal Income Trust
| By: | /s/ Payson F. Swaffield | |
| Payson F. Swaffield | ||
| President | ||
| Date: | October 22, 2018 | |
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/ Payson F. Swaffield | |
| Payson F. Swaffield | ||
| President | ||
| Date: | October 22, 2018 | |
| By: | /s/ James F. Kirchner | |
| James F. Kirchner | ||
| Treasurer | ||
| Date: | October 22, 2018 | |