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 811-21348
Name of Fund: Muni Intermediate Duration Fund, Inc.
Fund Address: P.O. Box 9011
Princeton, NJ 08543-9011
Name and address of agent for service: Robert C. Doll, Jr., Chief
Executive Officer, Muni Intermediate Duration Fund, Inc., 800
Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address:
P.O. Box 9011, Princeton, NJ, 08543-9011
Registrant's telephone number, including area code: (609) 282-2800
Date of fiscal year end: 05/31/05
Date of reporting period: 12/01/04 - 2/28/05
Item 1 - Schedule of Investments
Muni Intermediate Duration Fund, Inc.
Schedule of Investments as of February 28, 2005 (in Thousands)
Face
State Amount Municipal Bonds Value
Alabama - 2.2% Jefferson County, Alabama, Limited Obligation School Warrants, Series A:
$ 5,500 5.50% due 1/01/2021 $ 5,960
6,500 5.25% due 1/01/2023 6,857
Arizona - 4.3% 3,020 Maricopa County, Arizona, IDA, Education Revenue Bonds (Arizona
Charter Schools Project 1), Series A, 6.625% due 7/01/2020 2,987
3,000 Navajo County, Arizona, IDA, IDR (Stone Container Corporation
Project), AMT, 7.20% due 6/01/2027 3,141
Pima County, Arizona, IDA, Education Revenue Bonds (Arizona Charter
Schools Project):
1,000 Series C, 6.70% due 7/01/2021 1,045
1,750 Series K/L, 6.375% due 7/01/2031 1,778
Pinal County, Arizona, COP:
2,760 5.25% due 12/01/2018 2,962
2,910 5.25% due 12/01/2019 3,116
3,065 5.25% due 12/01/2020 3,270
3,230 5.25% due 12/01/2021 3,435
3,405 5.25% due 12/01/2022 3,607
Arkansas - 0.4% University of Arkansas, University Revenue Refunding Bonds (UAMS Campus),
Series A (d):
1,000 5% due 11/01/2013 1,102
1,250 5% due 11/01/2015 1,371
California - 25.6% 12,500 California Pollution Control Financing Authority, PCR, Refunding
(Pacific Gas & Electric), AMT, Series A, 5.35% due 12/01/2016 (d) 13,493
California State Department of Water Resources, Power Supply Revenue
Bonds, Series A:
8,500 5.25% due 5/01/2020 9,165
5,000 5.375% due 5/01/2021 5,425
6,500 5.375% due 5/01/2022 7,034
5,000 California State, GO, Refunding, 5.25% due 2/01/2027 (d) 5,323
10,000 California State Public Works Board, Lease Revenue Bonds (Department of
Corrections), Series C, 5.50% due 6/01/2020 11,052
17,500 California State, Various Purpose, GO, 5.50% due 4/01/2028 19,176
2,500 California Statewide Communities Development Authority, Health Facility
Revenue Bonds (Memorial Health Services), Series A, 6% due 10/01/2023 2,841
2,400 Elk Grove, California, Poppy Ridge Community Facilities Number 3
Special Tax, Series 1, 6% due 9/01/2028 2,503
Portfolio Abbreviations
To simplify the listings of Muni Intermediate Duration Fund, Inc.'s
portfolio holdings in the Schedule of Investments, we have
abbreviated the names of many of the securities according to the
list below.
AMT Alternative Minimum Tax (subject to)
BAN Bond Anticipation Notes
COP Certificates of Participation
EDA Economic Development Authority
GO General Obligation Bonds
IDA Industrial Development Authority
IDB Industrial Development Board
IDR Industrial Development Revenue Bonds
PCR Pollution Control Revenue Bonds
S/F Single-Family
VRDN Variable Rate Demand Notes
Muni Intermediate Duration Fund, Inc.
Schedule of Investments as of February 28, 2005 (concluded) (in Thousands)
Face
State Amount Municipal Bonds Value
California (concluded) Golden State Tobacco Securitization Corporation of California, Tobacco
Settlement Revenue Bonds, Series B:
$ 5,000 5.625% due 6/01/2020 $ 5,261
2,000 5.75% due 6/01/2021 2,143
7,575 5.75% due 6/01/2022 8,093
7,495 5.75% due 6/01/2023 7,983
Los Angeles, California, Unified School District, GO:
10,485 (Election of 1997), Series F, 5% due 7/01/2025 (b) 10,992
16,975 Series A, 5% due 1/01/2028 (d) 17,703
1,515 Rowland, California, Unified School District, GO (Election of 2000),
Series B, 5.25% due 8/01/2027 (c) 1,622
Sacramento, California, Special Tax (North Natomas Community Facilities),
Series 4-C:
585 5.60% due 9/01/2020 608
1,720 5.75% due 9/01/2022 1,775
500 5.90% due 9/01/2023 515
3,000 6% due 9/01/2028 3,117
4,545 San Bernardino, California, Community College District, GO (Election of
2002), Series B, 5.25% due 8/01/2028 (d) 4,887
2,680 San Dieguito, California, Public Facilities Authority Revenue Bonds, 5%
due 8/01/2021 (a) 2,806
3,000 San Jose, California, Airport Revenue Bonds, Series A, 5.25% due
3/01/2017 (b) 3,277
2,620 Stanislaus, California, Waste-to-Energy Financing Agency, Solid Waste
Facility, Revenue Refunding Bonds (Ogden Martin System Inc. Project),
VRDN, 1.86% due 1/01/2010 (d)(f) 2,620
Colorado - 4.5% Denver, Colorado, City and County Airport Revenue Refunding Bonds (d):
11,000 Series A, 5.50% due 11/15/2025 11,539
2,000 Series E, 5.25% due 11/15/2023 2,121
1,000 Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement
Fee), Series A, 7.10% due 9/01/2014 1,078
2,250 Montrose, Colorado, Memorial Hospital, Revenue Bonds, 6.375% due 12/01/2023 2,420
7,500 Plaza Metropolitan District No. 1, Colorado, Tax Allocation Revenue Bonds
(Public Improvement Fees), 7.50% due 12/01/2015 7,798
1,000 Southlands, Colorado, Medical District, GO (Metropolitan District # 1),
6.75% due 12/01/2016 1,025
Connecticut - 1.7% 1,160 Connecticut State Development Authority, Airport Facility Revenue Bonds
(LearJet Inc. Project), AMT, 7.95% due 4/01/2026 1,347
8,000 Connecticut State Development Authority, PCR, Refunding (Connecticut Light
and Power Company), Series A, 5.85% due 9/01/2028 8,497
Florida - 3.5% 1,000 Broward County, Florida, Airport Exempt Facility Revenue Bonds (Learjet Inc.
Project), AMT, 7.50% due 11/01/2020 1,128
3,000 Harbor Bay, Florida, Community Development District, Capital Improvement
Special Assessment Bonds, 6.75% due 5/01/2034 3,207
4,055 Heritage Isle at Viera Community Development District, Florida, Special
Assessment Bonds, Series B, 5% due 11/01/2009 4,062
3,500 Midtown Miami, Florida, Community Development District, Special Assessment
Revenue Bonds, Series A, 6% due 5/01/2024 3,609
1,000 Orlando, Florida, Urban Community Development District, Capital
Improvement Special Assessment Bonds, 6% due 5/01/2020 1,018
1,085 Portofino Shores, Florida, Community Development District, Special Assessment
Bonds, Series A, 6.40% due 5/01/2034 1,133
2,390 South Lake County, Florida, Hospital District Revenue Bonds (South Lake
Hospital Inc.), 6.625% due 10/01/2023 2,544
1,000 Sterling Hill, Florida, Community Development District, Capital Improvement
Revenue Refunding Bonds, Series B, 5.50% due 11/01/2010 1,016
2,660 West Villages Improvement District, Florida, Revenue Bonds, BAN, 5%
due 2/01/2006 2,659
Georgia - 3.4% 4,600 Albany-Dougherty County, Georgia, Hospital Authority, Revenue Anticipation
Certificates (Phoebe Putney Memorial Hospital Project), VRDN, 1.74% due
9/01/2032 (a)(f) 4,600
1,500 Atlanta, Georgia, Tax Allocation Revenue Bonds (Atlantic Station Project),
7.90% due 12/01/2024 1,631
5,210 Brunswick & Glynn County, Georgia, Development Authority, First Mortgage
Revenue Bonds (Coastal Community Retirement Corporation Project), Series A,
7.125% due 1/01/2025 5,470
4,500 Fulton County, Georgia, Residential Care Facilities, Revenue Refunding
Bonds (Canterbury Court Project), Series A, 5.80% due 2/15/2018 4,544
Savannah, Georgia, EDA, Revenue Bonds (Marshes of Skidaway), First Mortgage,
Series A:
1,245 6.25% due 1/01/2012 1,241
2,245 6.85% due 1/01/2019 2,285
Idaho - 0.1% 700 Idaho Housing and Finance Association, S/F Mortgage Revenue Bonds, AMT,
Series F-2, 5.85% due 7/01/2015 (e) 705
Illinois - 3.8% 2,510 Chicago, Illinois, O'Hare International Airport Revenue Bonds, 3rd Lien,
AMT, Series B-2, 6% due 1/01/2029 (h) 2,815
Hodgkins, Illinois, Environmental Improvement Revenue Bonds, AMT:
5,280 (MBM Project), 6% due 11/01/2015 5,606
6,000 (Metro Biosolids Management LLC Project), 5.90% due 11/01/2017 6,275
6,930 Illinois, Development Finance Authority Revenue Bonds (Community
Rehabilitation Providers Facilities), Series A, 6.625% due 7/01/2032 7,340
Louisiana - 3.0% 8,250 Louisiana Public Facilities Authority, Mortgage Revenue Refunding
Bonds (Baton Rouge General Medical Center Project), 5.25% due
7/01/2033 (d)(e) 8,737
Port New Orleans, Louisiana, IDR, Refunding (Continental Grain Company
Project):
3,500 7.50% due 7/01/2013 3,629
5,000 6.50% due 1/01/2017 5,125
Maine - 1.6% 1,965 Portland, Maine, Housing Development Corporation, Senior Living Revenue
Bonds (Avesta Housing Development Corporation Project), Series A, 6% due
2/01/2034 1,952
7,000 Rumford, Maine, Solid Waste Disposal Revenue Refunding Bonds (Boise Cascade
Corporation Project), AMT, 6.875% due 10/01/2026 7,475
Massachusetts - 0.6% Massachusetts State Development Finance Agency, Resource Recovery Revenue
Bonds (Ogden Haverhill Associates), AMT, Series B:
1,210 5.35% due 12/01/2015 1,223
2,000 5.50% due 12/01/2019 2,039
Michigan - 1.9% 3,325 Macomb County, Michigan, Hospital Finance Authority, Hospital Revenue Bonds
(Mount Clemens General Hospital), Series B, 5.875% due 11/15/2034 3,161
4,795 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Oakwood
Obligated Group), Series A, 6% due 4/01/2022 5,241
3,000 Michigan State University Revenue Bonds, VRDN, Series A, 1.73% due
8/15/2032 (f) 3,000
Minnesota - 0.7% Minneapolis and Saint Paul, Minnesota, Housing and Redevelopment Authority,
Health Care System Revenue Bonds (Group Health Plan Inc. Project):
1,000 6% due 12/01/2019 1,093
2,545 6% due 12/01/2021 2,765
Mississippi - 1.4% Mississippi Business Finance Corporation, Mississippi, PCR, Refunding
(System Energy Resources Inc. Project):
5,000 5.875% due 4/01/2022 5,043
2,910 5.90% due 5/01/2022 2,944
Missouri - 3.3% St. Louis, Missouri, Airport Revenue Bonds (Airport Developmental Program),
Series A (d):
5,220 5.625% due 7/01/2016 5,824
3,500 5.625% due 7/01/2017 3,907
8,500 5.625% due 7/01/2018 9,473
Montana - 0.2% 1,220 Montana State Board of Housing, AMT, S/F Program Revenue Bonds, Series B-2,
6.35% due 12/01/2021 (e) 1,255
Nevada - 0.4% 2,250 Clark County, Nevada, Improvement District No. 142 Special Assessment,
6.375% due 8/01/2023 2,321
New Jersey - 11.4% 7,735 Casino Reinvestment Development Authority, New Jersey, Parking Fee Revenue
Bonds, 5% due 10/01/2021 (a) 8,220
Garden State Preservation Trust of New Jersey, Open Space and Farmland
Preservation Revenue Bonds, Series A (c):
3,635 5.80% due 11/01/2021 4,102
5,050 5.80% due 11/01/2023 5,654
New Jersey EDA, Cigarette Tax Revenue Bonds:
10,950 5.625% due 6/15/2018 11,659
9,810 5.75% due 6/15/2029 10,426
17,900 New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5.25%
due 7/01/2033 (d) 19,253
5,540 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines
Inc. Project), AMT, 6.625% due 9/15/2012 5,097
2,030 Sparta Township, New Jersey, School District, GO, Refunding, 5% due
9/01/2020 (d) 2,131
New Mexico - 2.2% Farmington, New Mexico, PCR, Refunding:
3,000 (Public Service Company of New Mexico - San Juan), Series D, 6.375%
due 4/01/2022 3,242
9,000 (Tucson Electric Power Co. - San Juan Project), Series A, 6.95% due
10/01/2020 9,430
New York - 30.7% 1,200 Dutchess County, New York, IDA, Civic Facility Revenue Bonds (Saint Francis
Hospital), Series B, 7.25% due 3/01/2019 1,226
6,500 Metropolitan Transportation Authority, New York, Dedicated Tax Fund
Revenue Refunding Bonds, VRDN, Series B, 1.84% due 11/01/2022 (c)(f) 6,500
10,500 Metropolitan Transportation Authority, New York, Revenue Refunding Bonds,
Series A, 5.75% due 11/15/2032 11,793
2,635 New York City, New York, City IDA, Civic Facility Revenue Bonds (Special
Needs Facilities Pooled Program), Series C-1, 5.50% due 7/01/2007 2,672
New York City, New York, City IDA, Special Facility Revenue Bonds, AMT:
1,250 (British Airways Plc Project), 7.625% due 12/01/2032 1,312
3,000 (Continental Airlines Inc. Project), 8.375% due 11/01/2016 2,847
2,780 New York City, New York, City Transitional Finance Authority, Future Tax
Secured Revenue Bonds, Series C, 5.50% due 5/01/2025 3,002
New York City, New York, GO, Refunding:
5,000 Series B, 5.75% due 8/01/2015 5,604
5,050 Series F, 5.25% due 8/01/2015 (d) 5,408
14,000 New York City, New York, GO, Series C, 5.50% due 8/01/2013 15,559
2,540 New York City, New York, IDA, Civic Facility Revenue Bonds (Special
Needs Facilities Pooled Program), Series C-1, 6.80% due 7/01/2019 2,669
9,150 New York City, New York, Sales Tax Asset Receivable Corporation Revenue
Bonds, Series A, 5.25% due 10/15/2027 (a) 9,897
New York State Dormitory Authority Revenue Bonds:
1,000 (North Shore L.I. Jewish Group), 5% due 5/01/2012 1,068
7,075 (School Districts Financing Program), Series D, 5.25% due 10/01/2023 (d) 7,701
5,580 New York State Dormitory Authority, Lease Revenue Refunding Bonds (Court
Facilities), Series A, 5.25% due 5/15/2012 6,119
New York State Dormitory Authority, Revenue Refunding Bonds:
7,775 (City University System), Consolidated Second Generation, Series A,
6.125% due 7/01/2013 (a) 8,945
2,350 (Lenox Hill Hospital Obligation Group), 5.75% due 7/01/2016 2,531
7,000 (Mount Sinai Health), Series A, 6.625% due 7/01/2018 7,464
5,000 (Mount Sinai Health), Series A, 6.625% due 7/01/2019 5,332
10,000 (North Shore University Hospital), 5.20% due 11/01/2017 (d) 10,802
60 New York State Thruway Authority, Local Highway and Bridge Service
Contract Revenue Refunding Bonds, 5.50% due 4/01/2017 67
New York State Urban Development Corporation, Correctional and Youth
Facilities Services Revenue Refunding Bonds, Series A:
4,500 5% due 1/01/2017 4,844
11,650 5.50% due 1/01/2017 12,845
10,000 New York State Urban Development Corporation, Personal Income Tax
Revenue Bonds (State Facilities), Series A-1, 5.25% due 3/15/2034 (b) 10,675
Tobacco Settlement Financing Corporation of New York Revenue Bonds:
3,340 Series A-1, 5.50% due 6/01/2016 3,646
9,010 Series A-1, 5.25% due 6/01/2022 (a) 9,683
7,000 Series C-1, 5.50% due 6/01/2021 7,716
10,000 Series C-1, 5.50% due 6/01/2022 10,957
North Carolina - 2.7% 6,000 North Carolina Medical Care Commission, Health Care Facilities, First
Mortgage Revenue Refunding Bonds (Presbyterian Homes Project), 7% due
10/01/2031 6,380
3,150 North Carolina Medical Care Commission, Health Care Housing Revenue Bonds
(The ARC of North Carolina Projects), Series A, 5.50% due 10/01/2024 3,183
North Carolina Medical Care Commission, Hospital Revenue Bonds (Maria
Parham Medical Center) (g):
2,505 5.50% due 10/01/2013 2,777
2,940 5.50% due 10/01/2016 3,227
Ohio - 0.2% 1,280 Port of Greater Cincinnati Development Authority, Ohio, Special
Assessment Revenue Bonds (Cooperative Public Parking Infrastructure
Project), 6.30% due 2/15/2024 1,363
Pennsylvania - 4.8% 3,500 Montgomery County, Pennsylvania, IDA, Revenue Bonds (Whitemarsh Continuing
Care Project), 6% due 2/01/2021 3,545
9,000 Pennsylvania Economic Development Financing Authority, Exempt Facilities
Revenue Bonds (National Gypsum Company), AMT, Series A, 6.25% due 11/01/2027 9,507
7,490 Philadelphia, Pennsylvania, Gas Works Revenue Refunding Bonds, 1975 General
Ordinance, 17th Series, 5.375% due 7/01/2022 (c) 8,158
Sayre, Pennsylvania, Health Care Facilities Authority, Revenue Refunding
Bonds, Series A:
1,750 (Guthrie Health), 6.25% due 12/01/2015 1,943
3,000 (Guthrie Health), 6.25% due 12/01/2016 3,325
1,490 (Guthrie Healthcare System), 6.25% due 12/01/2018 1,635
South Carolina - 2.5% Medical University Hospital Authority, South Carolina, Mortgage Hospital
Facilities, Revenue Refunding Bonds, Series A (d)(e):
4,125 5.25% due 2/15/2023 4,440
4,250 5.25% due 8/15/2023 4,575
3,000 5.25% due 8/15/2024 3,222
2,380 5.25% due 8/15/2025 2,550
Tennessee - 4.1% 1,800 Johnson City, Tennessee, Health and Educational Facilities Board,
Retirement Facility Revenue Bonds (Appalachian Christian Village Project),
Series A, 6% due 2/15/2019 1,799
5,000 McMinn County, Tennessee, IDB, PCR (Calhoun Newsprint Co. Project), AMT,
7.625% due 3/01/2016 5,009
800 Sevier County, Tennessee, Public Building Authority Revenue Bonds, Local
Government Public Improvement IV, VRDN, Series E-5, 1.75% due 6/01/2020 (a)(f) 800
Shelby County, Tennessee, Health, Educational and Housing Facilities Board
Revenue Bonds (Germantown Village), Series A:
3,550 6.75% due 12/01/2018 3,647
1,450 7% due 12/01/2023 1,487
Shelby County, Tennessee, Health, Educational and Housing Facility Board,
Hospital Revenue Refunding Bonds (Methodist Healthcare):
3,760 6% due 9/01/2012 (j) 4,378
2,190 6.25% due 9/01/2012 (j) 2,586
745 6% due 9/01/2016 (i) 865
1,495 6% due 9/01/2017 (i) 1,737
1,310 6.25% due 9/01/2018 (i) 1,541
Texas - 11.4% Austin, Texas, Convention Center Revenue Bonds (Convention Enterprises Inc.),
First Tier, Series A:
6,445 6.375% due 1/01/2016 6,808
10,260 6.70% due 1/01/2032 10,877
1,500 Bexar County, Texas, Health Facilities Development Corporation, Revenue
Refunding Bonds (Army Retirement Residence Project), 6.30% due 7/01/2032 1,592
Brazos River Authority, Texas, PCR, Refunding, AMT, Series A:
1,500 (TXU Energy Company LLC Project), 6.75% due 4/01/2038 1,736
4,885 (Texas Utility Company), 7.70% due 4/01/2033 5,765
1,700 Brazos River, Texas, Harbor Navigation District, Brazoria County
Environmental Revenue Refunding Bonds (Dow Chemical Company Project),
AMT, Series A-7, 6.625% due 5/15/2033 1,871
7,210 Dallas-Fort Worth, Texas, International Airport Facility, Improvement
Corporation Revenue Bonds (Learjet Inc.), AMT, Series 2001-A-1, 6.15%
due 1/01/2016 7,252
2,440 Gulf Coast, Texas, IDA, Solid Waste Disposal Revenue Bonds (Citgo Petroleum
Corporation Project), AMT, 7.50% due 5/01/2025 2,730
1,500 Houston, Texas, Health Facilities Development Corporation, Retirement
Facility Revenue Bonds (Buckingham Senior Living Community), Series A, 7%
due 2/15/2023 1,620
7,420 Lower Colorado River Authority, Texas, PCR (Samsung Austin Semiconductor),
AMT, 6.95% due 4/01/2030 8,467
2,600 Matagorda County, Texas, Navigation District Number 1, Revenue Refunding
Bonds (Reliant Energy Inc.), Series C, 8% due 5/01/2029 2,873
2,300 Port Corpus Christi, Texas, Individual Development Corporation,
Environmental Facilities Revenue Bonds (Citgo Petroleum Corporation Project),
AMT, 8.25% due 11/01/2031 2,474
5,000 Sabine River Authority, Texas, PCR, Refunding (TXU Electric Company
Project/TXU Energy Company LLC), AMT, Series B, 5.75% due 5/01/2030 5,384
San Marcos, Texas, Consolidated Independent School District, GO:
3,020 5.625% due 8/01/2025 3,377
3,210 5.625% due 8/01/2026 3,579
Virginia - 5.3% 10,000 Giles County, Virginia, IDA, Revenue Bonds (Hoechst Celanese Corporation),
AMT, 6.45% due 5/01/2026 10,223
James City County, Virginia, IDA, Residential Care Facility, Revenue
Refunding Bonds, Series A:
3,285 5.75% due 3/01/2017 3,443
1,150 6% due 3/01/2023 1,220
2,250 Loudoun County, Virginia, IDA, IDR, Refunding (Dulles Airport Marriott
Hotel), 7.125% due 9/01/2015 2,303
2,000 Pittsylvania County, Virginia, IDA, Revenue Refunding Bonds, Exempt-Facility,
AMT, Series B, 7.65% due 1/01/2010 2,058
11,910 Pocahontas Parkway Association, Virginia, Toll Road Revenue Bonds, Senior
Series A, 5.50% due 8/15/2028 11,538
Wyoming - 1.5% Sweetwater County, Wyoming, Solid Waste Disposal Revenue Bonds (FMC
Corporation Project), AMT:
3,895 Series A, 7% due 6/01/2024 3,957
5,000 Series B, 6.90% due 9/01/2024 5,068
Guam - 0.4% 2,250 Commonwealth of the Northern Mariana Islands, Guam, GO, Series A, 6.75%
due 10/01/2033 2,316
Puerto Rico - 7.0% 17,935 Puerto Rico Electric Power Authority, Power Revenue Bonds, Series NN,
5.50% due 7/01/2018 19,920
5,390 Puerto Rico Industrial Medical and Environmental Pollution Control
Facilities Financing Authority, Special Facilities Revenue Bonds
(American Airlines Inc.), Series A, 6.45% due 12/01/2025 3,795
Puerto Rico Public Buildings Authority, Government Facilities, Revenue
Refunding Bonds:
5,170 Series D, 5.25% due 7/01/2027 5,476
8,000 Series I, 5.50% due 7/01/2021 8,835
2,525 Puerto Rico Public Finance Corporation, Commonwealth Appropriation Revenue
Bonds, Series E, 5.50% due 8/01/2029 2,697
U.S. Virgin Islands - 1.7% 2,500 Virgin Islands Government Refinery Facilities, Revenue Refunding Bonds
(Hovensa Coker Project), AMT, 6.50% due 7/01/2021 2,736
6,750 Virgin Islands Public Finance Authority, Refinery Facilities Revenue Bonds
(Hovensa Refinery), AMT, 6.125% due 7/01/2022 7,247
Total Municipal Bonds (Cost - $834,270) - 148.5% 865,979
Total Investments (Cost - $834,270*) - 148.5% 865,979
Other Assets Less Liabilities - 0.4% 2,387
Preferred Stock, at Redemption Value - (48.9%) (285,057)
----------
Net Assets Applicable to Common Stock - 100.0% $ 583,309
==========
(a) AMBAC Insured.
(b) FGIC Insured.
(c) FSA Insured.
(d) MBIA Insured.
(e) FHA Insured.
(f) Security has a maturity of more than one year, but has variable rate and demand features
which qualify it as a short-term security. The rate disclosed is that currently in effect.
This rate changes periodically based upon prevailing market rates.
(g) Radian Insured.
(h) XL Capital Insured.
(i) Escrowed to maturity.
(j) Prerefunded.
* The cost and unrealized appreciation (depreciation) of investments as of February 28, 2005,
as computed for federal income tax purposes, were as follows:
(in Thousands)
Aggregate cost $ 834,270
===============
Gross unrealized appreciation $ 31,978
Gross unrealized depreciation (269)
---------------
Net unrealized appreciation $ 31,709
===============
Forward interest rate swaps outstanding as of February 28, 2005 were as follows:
(in Thousands)
Unrealized
Notional Appreciation
Amount (Depreciation)
Receive a variable rate equal to 7-Day
Bond Market Association Municipal Swap
Index Rate and pay a fixed rate of 3.686%
Broker, JPMorgan Chase Bank
Expires March 2015 $ 68,000 $ (50)
Receive a variable rate equal to 7-Day
Bond Market Association Municipal Swap
Index Rate and pay a fixed rate of 3.68%
Broker, Morgan Stanley Capital Services, Inc.
Expires March 2015 $ 40,000 11
Receive a variable rate equal to 7-Day
Bond Market Association Municipal Swap
Index Rate and pay a fixed rate of 3.759%
Broker, JPMorgan Chase Bank
Expires November 2018 $ 7,800 98
--------
Total $ 59
========
Item 2 - Controls and Procedures
2(a) - The registrant's certifying officers have reasonably designed
such disclosure controls and procedures to ensure material
information relating to the registrant is made known to us by others
particularly during the period in which this report is being
prepared. The registrant's certifying officers have determined that
the registrant's disclosure controls and procedures are effective
based on our evaluation of these controls and procedures as of a
date within 90 days prior to the filing date of this report.
2(b) - There were no changes in the registrant's internal control
over financial reporting (as defined in Rule 30a-3(d) under the Act
(17 CFR 270.30a-3(d)) that occurred during the last fiscal quarter
of the period covered by this report that has materially affected,
or is 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.
Muni Intermediate Duration Fund, Inc.
By: /s/Robert C. Doll, Jr.
Robert C. Doll, Jr.
Chief Executive Officer
Muni Intermediate Duration Fund, Inc.
Date: April 22, 2005
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/Robert C. Doll, Jr.
Robert C. Doll, Jr.
Chief Executive Officer
Muni Intermediate Duration Fund, Inc.
Date: April 22, 2005
By: /s/ Donald C. Burke
Donald C. Burke
Chief Financial Officer
Muni Intermediate Duration Fund, Inc.
Date: April 22, 2005