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 811-6502
Name of Fund: BlackRock MuniYield Florida 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, BlackRock MuniYield Florida 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: 10/31/2007
Date of reporting period: 11/01/06 - 01/31/07
Item 1 - Schedule of Investments
BlackRock MuniYield Florida Fund
Schedule of Investments as of January 31, 2007 (in Thousands)
Face
Amount Municipal Bonds Value
District of Columbia - 0.5%
$ 1,000 Metropolitan Washington Airports Authority, D.C., Airport System Revenue Bonds, AMT, Series A,
5.25% due 10/01/2032 (f) $ 1,045
Florida - 132.3%
2,100 Alachua County, Florida, School Board, COP, 5.25% due 7/01/2029 (b) 2,236
1,595 Arbor Greene Community Development District, Florida, Special Assessment Revenue Refunding Bonds,
5% due 5/01/2019 1,683
2,420 Bay County, Florida, Sales Tax Revenue Bonds, 5% due 9/01/2027 (b) 2,568
2,000 Beacon Tradeport Community Development District, Florida, Special Assessment Revenue Refunding
Bonds (Commercial Project), Series A, 5.625% due 5/01/2032 (o) 2,160
2,030 Brevard County, Florida, Local Option Fuel Tax Revenue Bonds, 5% due 8/01/2024 (f) 2,144
2,870 Broward County, Florida, Airport System Revenue Bonds, AMT, Series I, 5.75% due 10/01/2018 (b) 3,099
2,750 Broward County, Florida, Educational Facilities Authority Revenue Bonds (Nova Southeastern
University), 5% due 4/01/2031 (c) 2,869
1,000 Broward County, Florida, Educational Facilities Authority Revenue Bonds (Nova Southeastern
University), Series B, 5.625% due 4/01/2034 1,061
1,750 Cape Coral, Florida, Special Obligation Revenue Bonds, 5% due 10/01/2023 (m) 1,860
2,060 Cape Coral, Florida, Special Obligation Revenue Bonds, 5% due 10/01/2026 (m) 2,181
2,425 Cape Coral, Florida, Special Obligation Revenue Bonds, 5% due 10/01/2033 (m) 2,556
2,305 Citrus County, Florida, Hospital Board Revenue Refunding Bonds (Citrus Memorial Hospital), 6.25% due
8/15/2023 2,516
2,850 Citrus County, Florida, Hospital Board Revenue Refunding Bonds (Citrus Memorial Hospital), 6.375%
due 8/15/2032 3,111
460 Collier County, Florida, IDA, IDR, Refunding (Southern States Utilities), AMT, 6.50% due 10/01/2025 465
1,170 Duval County, Florida, HFA, S/F Mortgage Revenue Refunding Bonds, AMT, 5.40% due 10/01/2021 (i) 1,189
1,955 Duval County, Florida, HFA, S/F Mortgage Revenue Refunding Bonds, AMT, 5.85% due 10/01/2027 (i)(m) 2,007
3,750 Escambia County, Florida, Environmental Improvement Revenue Bonds (International Paper Company
Projects), AMT, Series A, 4.75% due 12/01/2030 3,653
455 Florida Housing Finance Corporation, Homeowner Mortgage Revenue Refunding Bonds, AMT, Series 4,
6.25% due 7/01/2022 (j) 465
1,580 Florida Municipal Loan Council Revenue Bonds, Series A-1, 5.125% due 7/01/2034 (m) 1,662
4,250 Florida Municipal Loan Council Revenue Bonds, Series B, 5.375% due 11/01/2030 (m) 4,477
1,220 Florida State Board of Education, Capital Outlay, GO, Public Education, Series A, 6% due 1/01/2010 (n) 1,305
2,500 Florida State Board of Education, GO (Public Education Capital Outlay), Series J, 5% due 6/01/2031 2,625
Portfolio Abbreviations
To simplify the listings of BlackRock MuniYield Florida Fund'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)
COP Certificates of Participation
DRIVERS Derivative Inverse Tax-Exempt Receipts
EDA Economic Development Authority
GO General Obligation Bonds
HFA Housing Finance Agency
IDA Industrial Development Authority
IDR Industrial Development Revenue Bonds
S/F Single-Family
BlackRock MuniYield Florida Fund
Schedule of Investments as of January 31, 2007 (concluded) (in Thousands)
Florida (concluded)
$ 1,000 Florida State Governmental Utility Authority, Utility Revenue Bonds (Lehigh Utility System),
5.125% due 10/01/2033 (b) $ 1,051
3,000 Halifax Hospital Medical Center, Florida, Hospital Revenue Refunding and Improvement Bonds,
Series A, 5.25% due 6/01/2026 3,142
5,000 Hernando County, Florida, School Board, COP, 5% due 7/01/2035 (m) 5,244
5,900 Highlands County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Adventist Health
System), Series A, 6% due 11/15/2011 (n) 6,499
1,500 Highlands County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Adventist Health
System), Series C, 5.25% due 11/15/2036 1,585
2,940 Highlands County, Florida, Health Facilities Authority, Hospital Revenue Refunding Bonds (Adventist
Health System), Series G, 5.125% due 11/15/2032 3,060
1,055 Hillsborough County, Florida, Court Facilities Revenue Bonds, 5.40% due 11/01/2012 (b)(n) 1,142
2,500 Hillsborough County, Florida, IDA, Exempt Facilities Revenue Bonds (National Gypsum Company), AMT,
Series A, 7.125% due 4/01/2030 2,737
3,750 Hillsborough County, Florida, IDA, Exempt Facilities Revenue Bonds (National Gypsum Company), AMT,
Series B, 7.125% due 4/01/2030 4,106
1,000 Hillsborough County, Florida, IDA, Hospital Revenue Bonds (H. Lee Moffitt Cancer Center Project),
Series C, 5.50% due 7/01/2032 1,046
1,000 Hillsborough County, Florida, Port District Revenue Bonds (Tampa Port Authority Project), AMT, 5%
due 6/01/2026 (m) 1,040
1,500 Hillsborough County, Florida, School Board, COP, 5% due 7/01/2029 (m) 1,559
1,000 Jacksonville, Florida, Economic Development Commission, Health Care Facilities Revenue Bonds (Mayo
Clinic-Jacksonville), Series A, 5.50% due 11/15/2036 (m) 1,070
1,140 Jacksonville, Florida, Economic Development Commission, IDR (Metropolitan Parking Solutions Project),
AMT, 5.50% due 10/01/2030 (a) 1,225
2,800 Jacksonville, Florida, Economic Development Commission, IDR (Metropolitan Parking Solutions Project),
AMT, 5.875% due 6/01/2031 (a) 3,106
1,500 Jacksonville, Florida, Excise Taxes Revenue Bonds, Series B, 5.125% due 10/01/2032 (f) 1,571
2,315 Jacksonville, Florida, Guaranteed Entitlement Revenue Refunding and Improvement Bonds, 5.25% due
10/01/2032 (f) 2,445
3,145 Jacksonville, Florida, Health Facilities Authority, Hospital Revenue Bonds (Baptist Medical Center
Project), Series A, 5% due 8/15/2037 3,223
3,800 Jacksonville, Florida, Sales Tax Revenue Bonds, 5% due 10/01/2027 (m) 3,975
3,500 Lakeland, Florida, Hospital System Revenue Bonds (Lakeland Regional Health System), Series A,
5.50% due 11/15/2009 (m)(n) 3,694
3,375 Lee County, Florida, Capital Revenue Bonds, 5.25% due 10/01/2023 (b) 3,612
35 Lee County, Florida, HFA, S/F Mortgage Revenue Bonds (Multi-County Program), AMT, Series A-1,
7.125% due 3/01/2028 (i) 35
1,380 Lee County, Florida, IDA, Health Care Facilities, Revenue Refunding Bonds (Shell Point/Alliance
Obligor Group), 5% due 11/15/2032 1,382
1,610 Lee County, Florida, IDA, Health Care Facilities, Revenue Refunding Bonds (Shell Point/Alliance
Obligor Group), 5.125% due 11/15/2036 1,633
105 Leon County, Florida, HFA, S/F Mortgage Revenue Bonds (Multi-County Program), AMT, Series B,
7.30% due 1/01/2028 (g)(k) 108
20 Manatee County, Florida, HFA, S/F Mortgage Revenue Bonds, AMT, Sub-Series 2, 7.75% due 5/01/2026 (g)(k) 20
170 Manatee County, Florida, HFA, S/F Mortgage Revenue Refunding Bonds, AMT, Sub-Series 1, 6.25% due
11/01/2028 (k) 171
1,000 Marco Island, Florida, Utility System Revenue Bonds, 5% due 10/01/2033 (m) 1,043
1,350 Martin County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Martin Memorial Medical
Center), Series A, 5.75% due 11/15/2022 1,452
3,535 Martin County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Martin Memorial Medical
Center), Series A, 5.875% due 11/15/2032 3,807
3,000 Miami Beach, Florida, Water and Sewer Revenue Bonds, 5.75% due 9/01/2025 (b) 3,206
2,435 Miami-Dade County, Florida, Aviation Revenue Bonds, AMT, Series A, 5% due 10/01/2033 (j) 2,502
4,300 Miami-Dade County, Florida, Aviation Revenue Bonds (Miami International Airport), AMT, Series A,
6% due 10/01/2029 (f) 4,608
4,675 Miami-Dade County, Florida, Aviation Revenue Bonds (Miami International Airport), AMT, Series A,
5% due 10/01/2033 (f) 4,824
1,750 Miami-Dade County, Florida, Educational Facilities Authority Revenue Bonds (University of Miami),
Series A, 5.75% due 4/01/2029 (b) 1,859
4,750 Miami-Dade County, Florida, Expressway Authority, Toll System Revenue Bonds, Series B, 5% due
7/01/2033 (f) 4,962
490 Miami-Dade County, Florida, HFA, Home Ownership Mortgage, Revenue Refunding Bonds, AMT, Series A-1,
6.30% due 10/01/2020 (i) 501
3 Miami-Dade County, Florida, Health Facilities Authority, Hospital Revenue Refunding Bonds, DRIVERS,
Series 208, 7.305% due 8/15/2017 (b)(h) 3
3,200 Miami-Dade County, Florida, School Board, COP, Series A, 5.50% due 10/01/2009 (j)(n) 3,343
2,500 Miami-Dade County, Florida, School Board, COP, Series B, 5% due 11/01/2031 (b) 2,626
2,800 Miami-Dade County, Florida, Solid Waste System Revenue Bonds, 5.25% due 10/01/2030 (m) 3,016
1,750 Orange County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Adventist Health
System), 6.25% due 11/15/2012 (n) 1,955
5,140 Orange County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Orlando Regional
Healthcare), 6% due 12/01/2012 (n) 5,684
10,500 Orange County, Florida, School Board, COP, Series A, 5.25% due 8/01/2009 (m)(n) 10,976
3,000 Orlando and Orange County, Florida, Expressway Authority Revenue Bonds, Series B, 5% due 7/01/2030 (b) 3,134
10,185 Orlando and Orange County, Florida, Expressway Authority Revenue Bonds, Series B, 5% due 7/01/2035 (b) 10,639
860 Orlando, Florida, Utilities Commission, Water and Electric Revenue Refunding Bonds, Series C,
5.25% due 10/01/2012 (n) 923
140 Orlando, Florida, Utilities Commission, Water and Electric Revenue Refunding Bonds, Series C, 5.25%
due 10/01/2023 148
1,955 Osceola County, Florida, School Board, COP, Series A, 5.25% due 6/01/2027 (b) 2,070
1,760 Osceola County, Florida, Tourist Development Tax Revenue Bonds, Series A, 5.50% due 10/01/2027 (f) 1,881
5,000 Palm Beach County, Florida, Airport System Revenue Bonds, AMT, Series A, 5% due 10/01/2034 (m) 5,221
3,390 Palm Beach County, Florida, Criminal Justice Facilities Revenue Bonds, 7.20% due 6/01/2015 (f) 4,180
6,000 Palm Beach County, Florida, School Board, COP, Series A, 6.25% due 8/01/2010 (f)(n) 6,524
2,200 Palm Beach County, Florida, School Board, COP, Series A, 5% due 8/01/2031 (j) 2,309
1,435 Palm Coast, Florida, Utility System Revenue Bonds, 5% due 10/01/2027 (m) 1,496
3,500 Peace River/Manasota Regional Water Supply Authority, Florida, Utility System Revenue Bonds,
Series A, 5% due 10/01/2025 (j) 3,694
430 Pinellas County, Florida, HFA, S/F Housing Revenue Refunding Bonds (Multi-County Program), AMT,
Series A-1, 6.30% due 9/01/2020 (i) 434
655 Pinellas County, Florida, HFA, S/F Housing Revenue Refunding Bonds (Multi-County Program), AMT,
Series A-1, 6.35% due 9/01/2025 (i) 662
3,000 Pinellas County, Florida, Health Facilities Authority Revenue Bonds (BayCare Health System Inc.),
5.75% due 5/15/2013 (n) 3,308
1,480 Polk County, Florida, Public Facilities Revenue Bonds, 5% due 12/01/2033 (m) 1,557
4,385 Polk County, Florida, School Board COP, Master Lease, Series A, 5.50% due 1/01/2025 (j) 4,655
1,200 Port Everglades Authority, Florida, Port Revenue Bonds, 7.125% due 11/01/2016 (e) 1,391
1,215 Port St. Lucie, Florida, Utility Revenue Bonds, 5.25% due 9/01/2025 (m) 1,310
3,500 Port St. Lucie, Florida, Utility System Revenue Refunding Bonds, Series A, 5% due 9/01/2029 (m) 3,705
2,045 Reedy Creek, Florida, Improvement District, Utilities Revenue Bonds, Series 1, 5% due 10/01/2025 (b) 2,161
1,900 Saint Johns County, Florida, Ponte Vedra Utility System Revenue Bonds, 5% due 10/01/2030 (j) 1,999
1,000 Saint Johns County, Florida, Ponte Vedra Utility System Revenue Bonds, 5% due 10/01/2035 (j) 1,050
2,400 Saint Johns County, Florida, Sales Tax Revenue Bonds, Series A, 5.25% due 10/01/2032 (b) 2,561
1,200 Saint Johns County, Florida, Sales Tax Revenue Bonds, Series A, 5.25% due 10/01/2034 (b) 1,280
1,015 Saint Johns County, Florida, Sales Tax Revenue Bonds, Series B, 5.25% due 10/01/2032 (b) 1,083
2,275 South Florida Water Management District, COP, 5% due 10/01/2036 (b) 2,391
1,000 South Lake County, Florida, Hospital District Revenue Bonds (South Lake Hospital Inc.), 5.80%
due 10/01/2034 1,040
1,150 South Lake County, Florida, Hospital District Revenue Bonds (South Lake Hospital Inc.), 6.375%
due 10/01/2034 1,264
2,190 Sumter County, Florida, Capital Improvement Revenue Bonds, 5% due 6/01/2026 (b) 2,319
3,500 Sumter County, Florida, Capital Improvement Revenue Bonds, 5% due 6/01/2030 (b) 3,695
5,000 Tampa Bay, Florida, Water Utility System Revenue Bonds, 5.75% due 10/01/2011 (f)(n) 5,415
3,235 University of Central Florida (UCF) Athletics Association Inc., COP, Series A, 5.25% due 10/01/2034 (f) 3,447
1,995 Village Center Community Development District, Florida, Recreational Revenue Bonds, Series A,
5.375% due 11/01/2034 (m) 2,163
1,000 Village Center Community Development District, Florida, Recreational Revenue Bonds, Series A,
5.125% due 11/01/2036 (m) 1,060
5,040 Village Center Community Development District, Florida, Utility Revenue Bonds, 5.125% due
10/01/2028 (m) 5,302
1,000 Volusia County, Florida, IDA, Student Housing Revenue Bonds (Stetson University Project), Series A,
5% due 6/01/2035 (d) 1,050
5,000 Volusia County, Florida, School Board, COP (Master Lease Program), 5.50% due 8/01/2024 (j) 5,240
Georgia - 1.7%
3,270 Atlanta, Georgia, Airport Passenger Facility Charge and Subordinate Lien General Revenue Refunding
Bonds, Series C, 5% due 1/01/2033 (j) 3,403
New Jersey - 3.6%
3,500 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2024 3,669
1,735 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75% due 6/15/2029 1,864
505 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2031 532
1,000 Tobacco Settlement Financing Corporation of New Jersey, Asset-Backed Revenue Bonds, 7% due
6/01/2013 (n) 1,174
Puerto Rico - 4.5%
1,000 Puerto Rico Commonwealth, Public Improvement, GO, Series A, 5.25% due 7/01/2026 1,070
2,000 Puerto Rico Public Buildings Authority, Government Facilities Revenue Refunding Bonds, Series I, 5%
due 7/01/2036 2,071
1,715 Puerto Rico Public Finance Corporation, Commonwealth Appropriation Revenue Bonds, Series E, 5.70%
due 2/01/2010 (n) 1,809
4,025 Puerto Rico Public Finance Corporation, Commonwealth Appropriation Revenue Bonds, Series E, 5.50%
due 8/01/2029 4,236
Total Municipal Bonds (Cost - $274,455) - 142.6% 288,374
Municipal Bonds Held in Trust (q)
Florida - 18.2%
16,000 Miami-Dade County, Florida, Expressway Authority, Toll System Revenue Bonds, 6.375% due
7/01/2010 (f)(n) 17,419
6,595 Miami-Dade County, Florida, Health Facilities Authority, Hospital Revenue Refunding Bonds (Miami
Children's Hospital), Series A, 5.625% due 8/15/2017 (b) 7,139
1,180 Santa Rosa County, Florida, School Board, COP, Revenue Refunding Bonds, Series 2, 5.25% due
2/01/2026 (f) 1,269
1,820 Santa Rosa County, Florida, School Board, COP, Revenue Refunding Bonds, Series 2, 5.25% due
2/01/2031 (f) 1,956
8,500 South Broward, Florida, Hospital District, Hospital Revenue Bonds, 5.625% due 5/01/2032 (m) 9,150
Total Municipal Bonds Held in Trust (Cost - $35,243) - 18.2% 36,933
Shares
Held Short-Term Securities
3,187 CMA Florida Municipal Money Fund, 2.99% (l)(p) 3,187
Total Short-Term Securities (Cost - $3,187) - 1.6% 3,187
Total Investments (Cost - $312,885*) - 162.4% 328,494
Other Assets Less Liabilities - 0.5% 997
Liability for Trust Certificates, Including Interest Expense Payable - (8.5%) (17,167)
Preferred Shares, at Redemption Value - (54.4%) (110,071)
-----------
Net Assets Applicable to Common Shares - 100.0% $ 202,253
===========
* The cost and unrealized appreciation (depreciation) of investments
as of January 31, 2007, as computed for federal income tax purposes,
were as follows:
Aggregate cost $ 296,781
===================
Gross unrealized appreciation $ 15,157
Gross unrealized depreciation (492)
-------------------
Net unrealized appreciation $ 14,665
===================
(a) ACA Insured.
(b) AMBAC Insured.
(c) Assured Guaranty Insured.
(d) CIFG Insured.
(e) Escrowed to maturity.
(f) FGIC Insured.
(g) FHLMC Collateralized.
(h) The rate disclosed is that currently in effect. This rate changes
periodically and inversely based upon prevailing market rates.
(i) FNMA/GNMA Collateralized.
(j) FSA Insured.
(k) GNMA Collateralized.
(l) Investments in companies considered to be an affiliate of the Fund,
for purposes of Section 2(a)(3) of the Investment Company Act of 1940,
were as follows:
Net Dividend
Affiliate Activity Income
CMA Florida Municipal Money Fund (4,272) $31
(m) MBIA Insured.
(n) Prerefunded.
(o) Radian Insured.
(p) Represents the current yield as of January 31, 2007.
(q) Securities represent underlying bonds transferred to a separate
securitization trust established in a tender option bond transaction
in which the Fund may have acquired the residual interest certificates.
These securities serve as collateral in a financing transaction.
o Forward interest rate swaps outstanding as of January 31, 2007
were as follows:
Notional Unrealized
Amount Appreciation
Pay a fixed rate of 3.547% and receive a
floating rate based on 1-week Bond Market
Association rate
Broker, JPMorgan Chase
Expires March 2017 $25,000 $454
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) - As of September 29, 2006, with the conclusion of the combination of
Merrill Lynch's asset management business with BlackRock, the
registrant was migrated to BlackRock's trading and compliance
monitoring systems, and various personnel changes occurred. In
conjunction with these business improvements, there were no changes in
the registrants internal control over financial reporting (as defined
in Rule 30a-3(d) under Act (17 CFR 270.30a-3(d)) that occurred during
the last fiscal half-year of the period covered by this report that
has materially affected, or is reasonably likely to 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 Florida Fund, Inc.
By: /s/ Robert C. Doll, Jr.
-----------------------
Robert C. Doll, Jr.
Chief Executive Officer
BlackRock MuniYield Florida Fund, Inc.
Date: March 26, 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/ Robert C. Doll, Jr.
-----------------------
Robert C. Doll, Jr.
Chief Executive Officer
BlackRock MuniYield Florida Fund, Inc.
Date: March 26, 2007
By: /s/ Donald C. Burke
-------------------
Donald C. Burke
Chief Financial Officer
BlackRock MuniYield Florida Fund, Inc.
Date: March 26, 2007