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BCK Blackrock California Insured Municipal Income Trust

12.69
0.00 (0.00%)
26 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Blackrock California Insured Municipal Income Trust NYSE:BCK NYSE Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 12.69 0.00 01:00:00

- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)

23/07/2009 9:14pm

Edgar (US Regulatory)


UNITEDSTATES
SECURITIESANDEXCHANGECOMMISSION
Washington,D.C.20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21177

Name of Fund: BlackRock California Insured Municipal Income Trust (BCK)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock
California Insured Municipal Income Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536.
Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 08/31/2009

Date of reporting period: 05/31/2009

Item 1 – Schedule of Investments


BlackRock California Insured Municipal Income Trust      
Schedule of Investments May 31, 2009 (Unaudited)   (Percentages shown are based on Net Assets)  
      Par    
  Municipal Bonds     (000)   Value  
California - 140.8%          
County/City/Special District/School   Benicia, California, Unified School District, GO, Series B,      
District - 77.2%   5.531%, 8/01/23 (a)(b)     $ 6,500   $ 3,030,690  
  Central Unified School District, California, GO (Election of      
  2008), Series A, 5.625%, 8/01/33 (c)     400   411,992  
  Ceres, California, Unified School District, GO (Election of      
  2001), Series B, 5.906%, 8/01/30 (a)(b)(d)   3,055   898,109  
  Ceres, California, Unified School District, GO (Election of      
  2001), Series B, 5.914%, 8/01/31 (a)(b)(d)   3,180   879,938  
  Ceres, California, Unified School District, GO (Election of      
  2001), Series B, 5.919%, 8/01/32 (a)(b)(d)   3,300   859,254  
  Ceres, California, Unified School District, GO (Election of      
  2001), Series B, 5.923%, 8/01/33 (a)(b)(d)   3,440   840,495  
  Ceres, California, Unified School District, GO (Election of      
  2001), Series B, 5.892%, 8/01/34 (a)(b)(d)   3,575   830,472  
  Ceres, California, Unified School District, GO (Election of      
  2001), Series B, 5.896%, 8/01/35 (a)(b)(d)   3,275   716,897  
  Evergreen, California, Elementary School District, GO (Election      
  of 2006), Series B, 5.125%, 8/01/33 (c)     5,000   5,009,450  
  Fontana Unified School District, California, GO (Election of      
  2006), Series B, 5.25%, 8/01/26 (e)     5,400   5,668,110  
  Glendale, California, Community College District, GO (Election      
  of 2002), Series D, 5%, 11/01/31 (a)     2,500   2,473,300  
  Hemet, California, Unified School District, GO, Series B,      
  5.125%, 8/01/37 (c)     2,140   2,113,122  
  Kern County, California, COP (Capital Improvements Projects),      
  Series A, 6%, 8/01/35 (c)     1,500   1,569,285  
  Long Beach, California, Unified School District, GO (Election of      
  2008), Series A, 5.75%, 8/01/33     1,000   1,059,730  
  Los Angeles, California, Community College District, GO      
  (Election of 2001), Series A, 5%, 8/01/32 (d)(e)   3,000   2,975,400  
  Los Angeles, California, Community College District, GO,      
  Refunding (Election of 2008), Series A, 6%, 8/01/33   3,825   4,116,350  
  Los Angeles, California, Unified School District, GO, Series D,      
  5%, 7/01/26     600   611,886  
  Morongo, California, Unified School District, GO (Election of      
  2005), Series A, 5.25%, 8/01/38 (c)     1,775   1,780,130  
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 list below.

COP   Certificates of Participation  
GO   General Obligation Bonds  
VRDN   Variable Rate Demand Notes  

1


BlackRock California Insured Municipal Income Trust      
Schedule of Investments May 31, 2009 (Unaudited)   (Percentages shown are based on Net Assets)  
        Par    
  Municipal Bonds     (000)   Value  
  Murrieta Valley, California, Unified School District, Public      
  Financing Authority, Special Tax Revenue Bonds, Series A,      
  5.125%, 9/01/26 (c)     $ 1,000   $ 1,005,640  
  Riverside, California, Unified School District, GO (Election of      
  2001), Series A, 5%, 2/01/27 (a)(d)     5,000   5,004,650  
                                            San Diego, California, Community College District, GO
  (Election of 2002), 5.25%, 8/01/33     2,000   2,042,540  
  San Jose, California, Financing Authority, Lease Revenue      
  Refunding Bonds (Civic Center Project), Series B,      
  5%, 6/01/37 (f)     6,000   5,815,440  
  San Leandro, California, Unified School District, GO (Election      
  of 2006), Series B, 6.25%, 8/01/29 (e)     1,125   1,232,899  
  Stockton, California, Unified School District, GO (Election of      
  2005), 5%, 8/01/31 (e)     3,000   2,991,810  
  Westminster, California, Redevelopment Agency, Westminster      
  Commercial Redevelopment Project Number 1, Subordinate      
  Tax Allocation Bonds (Police Facility), 6.25%, 11/01/39 (c)   1,000   1,053,160  
        54,990,749  
Education - 14.3%   Alameda County, California, Joint Powers Authority, Lease      
  Revenue Refunding Bonds, 5%, 12/01/34 (e)   1,200   1,153,200  
  California Educational Facilities Authority Revenue Bonds      
  (Scripps College), 5%, 8/01/31 (a)     2,385   2,591,613  
  Pittsburg, California, GO (Election of 2006), Series B, 5.50%,      
  8/01/34 (e)     2,000   2,040,240  
  Snowline, California, Joint Unified School District, COP (2009      
  Refinancing Program), 5.75%, 9/01/38 (c)   2,000   2,030,760  
  University of California Revenue Bonds, Series O, 5.75%,      
  5/15/34     2,200   2,365,704  
        10,181,517  
State - 11.4%   California State, GO, 6.50%, 4/01/33     3,875   4,212,125  
  California State University, Systemwide Revenue Refunding      
  Bonds, Series A, 5%, 11/01/30 (f)     4,000   3,942,960  
        8,155,085  
Transportation - 5.3%   San Joaquin Hills, California, Transportation Corridor Agency,      
  Toll Road Revenue Refunding Bonds, Series A,      
  5.49%, 1/15/31 (a)(b)     20,000   3,759,800  
Utilities - 32.6%   California State Department of Water Resources, Water      
  System Revenue Refunding Bonds (Central Valley Project),      
  Series AE, 5%, 12/01/28     2,500   2,623,800  
  East Bay Municipal Utility District, California, Water System      
  Revenue Bonds, Sub-Series A, 5%, 6/01/35 (a)   3,000   3,000,000  
  East Bay Municipal Utility District, California, Water System      
  Revenue Refunding Bonds, Series A, 5%, 6/01/37 (a)(d)   4,000   3,970,200  
                                            Los Angeles, California, Wastewater System Revenue
  Refunding Bonds, Series A, 5%, 6/01/32 (a)(d)   4,000   3,951,520  

2


BlackRock California Insured Municipal Income Trust      
Schedule of Investments May 31, 2009 (Unaudited)   (Percentages shown are based on Net Assets)  
                Par    
  Municipal Bonds           (000)       Value  
Los Angeles, California, Wastewater System Revenue
  Refunding Bonds, Sub-Series A, 5%, 6/01/27 (a)   $ 5,000   $ 5,037,850  
Metropolitan Water District of Southern California,
  Waterworks Revenue Bonds, Series B-2, 5%, 10/01/27 (a)(d)   1,750   1,788,185  
  Napa, California, Water Revenue Bonds, 5%, 5/01/35 (f)   3,000   2,886,090  
        23,257,645  
  Total Municipal Bonds - 140.8%       100,344,796  
  Municipal Bonds Transferred to Tender      
  Option Bond Trusts (g)        
California - 13.4%          
Utilities - 13.4%   San Diego County, California, Water Authority, Water Revenue      
  Refunding Bonds, COP, Series A, 5%, 5/01/32 (a)   5,292   5,297,245  
  San Diego County, California, Water Authority, Water Revenue      
  Refunding Bonds, COP, Series A, 5%, 5/01/33 (e)   4,250   4,208,860  
  Total Municipal Bonds Transferred to        
  Tender Option Bond Trusts - 13.4%       9,506,105  
  Total Long-Term Investments        
  (Cost - $111,372,586) - 154.2%       109,850,901  
  Short-Term Securities        
California - 4.2%   Los Angeles County, California, Metropolitan Transportation      
  Authority, Sales Tax Revenue Refunding Bonds, Proposition      
  C, VRDN, Second Senior Series A, 5.75%, 6/08/09 (a)(h)   3,000   3,000,000  
      Shares    
Money Market Fund - 2.4%   CMA California Municipal Money Fund, 0.07% (i)(j)   1,711,916   1,711,916  
  Total Short-Term Securities (Cost - $4,711,916) - 6.6%     4,711,916  
  Total Investments (Cost - $116,084,502*) - 160.8%     114,562,817  
  Liabilities in Excess of Other Assets- (1.4)%     (985,883)  
                                                       Liability for Trust Certificates, Including Interest
  Expense and Fees Payable - (6.7)%       (4,774,929)  
  Preferred Shares, at Redemption Value - (52.7)%     (37,553,574)  
  Net Assets Applicable to Common Shares - 100.0%   $ 71,248,431  

* The cost and unrealized appreciation (depreciation) of investments as of May 31, 2009, as computed for federal income
tax purposes, were as follows:

Aggregate cost   $ 111,364,775  
Unrealized appreciation   1,628,717  
Unrealized depreciation   (3,202,524)  
Net unrealized depreciation   $ (1,573,807)  

(a) NPFGC Insured.

(b) Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

(c) Assured Guaranty Insured.

(d) FGIC Insured.

(e) FSA Insured.

(f) AMBAC Insured.

3


BlackRock California Insured Municipal Income Trust
Schedule of Investments May 31, 2009 (Unaudited)

(g) Securities represent bonds transferred to a tender option bond trust in exchange for which the Trust acquired residual
interest certificates. These securities serve as collateral in a financing transaction.

(h) Security may have a maturity of more than one year at the time of issuance but has variable rate and demand features
that qualify it as a short-term security. Rate shown is as of report date and maturity shown is the date the principal
owed can be recovered through demand.

(i) Investments in companies considered to be an affiliate of the Trust for purposes of Section 2(a)(3) of the Investment
Company Act of 1940, were as follows:

Affiliate   Net Activity   Income  
CMA California Municipal Money Fund   (4,560,951)   $ 36,477  

(j) Represents the current yield as of report date.

Effective September 1, 2008, the Trust adopted Financial Accounting Standards Board Statement of Financial Accounting
Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 clarifies the definition of fair value, establishes a
framework for measuring fair values and requires additional disclosures about the use of fair value measurements.
Various inputs are used in determining the fair value of investments, which are as follows:

Level 1 - price quotations in active markets/exchanges for identical securities

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 Trust's own assumptions used in determining the fair value
of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with
investing in those securities. For information about the Trust's policy regarding valuation of investments and other
significant accounting policies, please refer to the Trust's most recent financial statements as contained in its semi-
annual report.

The following table summarizes the inputs used as of May 31, 2009 in determining the fair valuation of the Trust's
investments:

Valuation   Investments in  
Inputs   Securities  
  Assets  
Level 1   $ 1,711,916  
Level 2   112,850,901  
Level 3   -  
Total   $ 114,562,817  

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 13(a)-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 California Insured Municipal Income Trust

By: /s/ Donald C. Burke
Donald C. Burke
Chief Executive Officer of
BlackRock California Insured Municipal Income Trust

Date: July 15, 2009

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/ Donald C. Burke
Donald C. Burke
Chief Executive Officer (principal executive officer) of
BlackRock California Insured Municipal Income Trust

Date: July 15, 2009

By: /s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock California Insured Municipal Income Trust

Date: July 15, 2009


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