Eaton Vance Municipal Income Trust
Table of Contents

 
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
 
February 28, 2010
Date of Reporting Period
 

TABLE OF CONTENTS

Item 1. Schedule of Investments
Item 2. Controls and Procedures
Signatures
EX-99.CERT Section 302 Certification

Table of Contents

 
Item 1. Schedule of Investments

Table of Contents

Eaton Vance Municipal Income Trust as of February 28, 2010
 
PORTFOLIO OF INVESTMENTS (Unaudited)
 
Tax-Exempt Investments — 184.7%
 
                 
Principal
 		           
Amount
 		           
(000’s omitted)     Security   Value  
Cogeneration — 1.4%
$ 2,950    
Maryland Energy Financing Administration, (AES Warrior Run), (AMT), 7.40%, 9/1/19
  $ 2,950,915  
  1,300    
Pennsylvania Economic Development Financing Authority, (Northampton Generating), (AMT), 6.50%, 1/1/13
    758,784  
                 
            $ 3,709,699  
                 
Education — 11.0%
$ 9,000    
California Educational Facilities Authority, (Stanford University), 5.25%, 12/1/32(1)
  $ 9,346,950  
  1,000    
Massachusetts Development Finance Agency, (Boston University), 6.00%, 5/15/59
    1,119,470  
  115    
Massachusetts Development Finance Agency, (New England Conservatory of Music), 5.25%, 7/1/38
    106,543  
  2,490    
Massachusetts Health and Educational Facilities Authority, (Harvard University), 5.00%, 10/1/38(1)
    2,629,108  
  2,500    
Massachusetts Health and Educational Facilities Authority, (Harvard University), 5.50%, 11/15/36
    2,792,125  
  10,500    
New York Dormitory Authority, (Cornell University), 5.00%, 7/1/39(1)
    11,031,405  
  1,000    
Rhode Island Health and Educational Building Corp., (University of Rhode Island), 6.25%, 9/15/34
    1,086,090  
                 
            $ 28,111,691  
                 
Electric Utilities — 3.6%
$ 1,300    
Brazos River Authority, TX, Pollution Control Revenue, (Texas Energy Co.), (AMT), 5.40%, 5/1/29
  $ 626,080  
  4,865    
Brazos River Authority, TX, Pollution Control Revenue, (Texas Energy Co.), (AMT), 8.25%, 5/1/33
    3,305,573  
  2,310    
Hawaii Department of Budget and Finance, (Hawaiian Electric Co.), 6.50%, 7/1/39
    2,490,873  
  2,935    
Massachusetts Development Finance Agency, (Dominion Energy Brayton Point), (AMT), 5.00%, 2/1/36
    2,688,020  
                 
            $ 9,110,546  
                 
General Obligations — 3.7%
$ 1,000    
Bryan, TX, Independent School District, 4.50%, 2/15/31
  $ 1,002,890  
  500    
Burleson, TX, Independent School District, 5.00%, 8/1/38
    522,180  
  1,525    
California, (AMT), 5.05%, 12/1/36
    1,370,350  
  4,000    
Michigan Municipal Bond Authority, 9.50%, 8/20/10
    3,996,680  
  2,340    
Port Authority of Houston, TX, (Harris County), (AMT), 5.625%, 10/1/38(1)
    2,451,068  
                 
            $ 9,343,168  
                 
Health Care-Miscellaneous — 1.3%
$ 1,865    
New Jersey Health Care Facilities Financing Authority, (Community Hospital Group, Inc.), 5.75%, 10/1/31
  $ 1,999,877  
  117    
Osceola County, FL, Industrial Development Authority, (Community Provider Pooled Loan), 7.75%, 7/1/17
    116,994  
  231    
Tax Revenue Exempt Securities Trust, Community Health Provider, (Pooled Loan Program Various States Trust Certificates), 6.00%, 12/1/36(2)
    236,276  
  611    
Tax Revenue Exempt Securities Trust, Community Health Provider, (Pooled Loan Program Various States Trust Certificates), 6.25%, 12/1/36(2)
    625,697  
  232    
Tax Revenue Exempt Securities Trust, Community Health Provider, (Pooled Loan Program Various States Trust Certificates), 7.75%, 12/1/36(2)
    237,345  
                 
            $ 3,216,189  
                 
Hospital — 24.3%
$ 10,000    
California Health Facilities Financing Authority, (Providence Health System), 5.50%, 10/1/39(1)
  $ 10,509,300  
  3,500    
California Statewide Communities Development Authority, (John Muir Health), 5.00%, 8/15/34
    3,343,060  
  3,000    
California Statewide Communities Development Authority, (John Muir Health), 5.00%, 8/15/36
    2,852,190  
  430    
Camden County, NJ, Improvement Authority, (Cooper Health System), 5.00%, 2/15/25
    387,903  
  1,610    
Camden County, NJ, Improvement Authority, (Cooper Health System), 5.00%, 2/15/35
    1,315,354  
 
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Table of Contents

                 
Principal
 		           
Amount
 		           
(000’s omitted)     Security   Value  
$ 1,200    
Camden County, NJ, Improvement Authority, (Cooper Health System), 5.25%, 2/15/27
  $ 1,090,716  
  680    
Chautauqua County, NY, Industrial Development Agency, (Women’s Christian Association), 6.35%, 11/15/17
    668,753  
  970    
Chautauqua County, NY, Industrial Development Agency, (Women’s Christian Association), 6.40%, 11/15/29
    861,447  
  3,280    
Illinois Finance Authority, (Provena Healthcare), 7.75%, 8/15/34
    3,702,661  
  2,575    
Louisiana Public Facilities Authority, (Tuoro Infirmary), 5.625%, 8/15/29
    1,959,910  
  2,000    
Martin County, MN, (Fairmont Community Hospital Association), 6.625%, 9/1/22
    2,037,480  
  2,500    
Mecosta County, MI, (Michigan General Hospital), 6.00%, 5/15/18
    2,430,350  
  3,000    
Monroe County, PA, Hospital Authority, (Pocono Medical Center), 5.25%, 1/1/43
    2,825,700  
  2,500    
New York Dormitory Authority, (Memorial Sloan-Kettering Cancer Center),
5.00%, 7/1/36(1)
    2,533,900  
  1,465    
New York Dormitory Authority, (Orange Regional Medical Center), 6.125%, 12/1/29
    1,390,153  
  2,930    
New York Dormitory Authority, (Orange Regional Medical Center), 6.25%, 12/1/37
    2,655,547  
  11,400    
North Carolina Medical Care Commission, (North Carolina Baptist Hospital),
5.25%, 6/1/29(3)
    11,886,286  
  5,000    
North Central, TX, Health Facility Development Corp., (Baylor Healthcare System), 5.125%, 5/15/29
    5,022,750  
  1,570    
South Lake County, FL, Hospital District, (South Lake Hospital), 6.25%, 4/1/39
    1,594,680  
  1,500    
St. Paul, MN, Housing and Redevelopment Authority, (HealthPartners, Inc.), 5.25%, 5/15/36
    1,383,705  
  1,390    
Sullivan County, TN, Health, Educational and Facilities Board, (Wellmont Health System), Variable Rate, 5.44%, 9/1/32
    1,293,826  
  450    
Virginia Small Business Financing Authority, (Wellmont Health), 5.25%, 9/1/37
    408,730  
                 
            $ 62,154,401  
                 
Housing — 13.3%
$ 1,630    
California Housing Finance Agency, (AMT), 4.75%, 8/1/42
  $ 1,334,318  
  2,050    
California Housing Finance Agency, (AMT), 5.60%, 8/1/38
    1,962,896  
  4,850    
California Rural Home Mortgage Finance Authority, (AMT), 5.50%, 8/1/47
    2,946,812  
  4,000    
Charter Mac Equity Trust, TN, 6.00%, 5/15/19(2)
    4,181,560  
  2,055    
Colorado Housing and Finance Authority, (Birchwood Manor Project), (GNMA), (AMT), 5.50%, 9/20/36
    2,129,124  
  1,425    
Fairfax County, VA, Redevelopment and Housing Authority, (Cedar Ridge), (AMT), 4.85%, 10/1/48
    1,326,176  
  1,530    
Lake Creek, CO, Affordable Housing Corp., MFMR, 7.00%, 12/1/23
    1,530,122  
  3,895    
Muni Mae Tax-Exempt Bond, LLC, 7.50%, 6/30/49(2)
    3,612,504  
  2,485    
North Little Rock, AR, Residential Housing Facilities, (Parkstone Place), 6.50%, 8/1/21
    2,455,329  
  2,030    
Ohio Housing Finance Agency, (Residential Mortgage-Backed Securities), (FNMA), (GNMA), (AMT), 4.75%, 3/1/37
    1,909,418  
  3,265    
Oregon Health Authority, (Trillium Affordable Housing), (AMT), 6.75%, 2/15/29
    2,968,309  
  4,070    
Pennsylvania Housing Finance Agency, (AMT), 4.70%, 10/1/37
    3,771,669  
  3,300    
Texas Student Housing Corp., (University of Northern Texas), 6.75%, 7/1/16
    2,941,917  
  1,000    
Virginia Housing Development Authority, (AMT), 5.875%, 7/1/35
    1,050,980  
                 
            $ 34,121,134  
                 
Industrial Development Revenue — 23.5%
$ 1,640    
ABIA Development Corp., TX, (Austin CargoPort Development), (AMT), 6.50%, 10/1/24
  $ 1,319,921  
  3,085    
Alabama Industrial Development Authority, Solid Waste Disposal, (Pine City Fiber Co.), (AMT), 6.45%, 12/1/23
    2,489,286  
  4,600    
Brazos River, TX, Harbor Navigation District, (Dow Chemical Co.), (AMT), 5.95%, 5/15/33
    4,609,982  
  1,945    
Broward County, FL, (Lynxs CargoPort), (AMT), 6.75%, 6/1/19
    1,709,577  
  1,000    
Butler County, AL, Industrial Development Authority, (International Paper Co.), (AMT), 7.00%, 9/1/32
    1,039,570  
  3,000    
California Pollution Control Financing Authority, (Browning-Ferris Industries, Inc.), (AMT), 6.875%, 11/1/27
    3,003,060  
  1,300    
California Pollution Control Financing Authority, (Waste Management, Inc.), (AMT), 5.40%, 4/1/25
    1,312,961  
  1,060    
Capital Trust Agency, FL, (Fort Lauderdale Project), (AMT), 5.75%, 1/1/32
    890,909  
  400    
Clayton County, GA, Development Authority, (Delta Airlines, Inc.), 8.75%, 6/1/29
    414,784  
  2,240    
Clayton County, GA, Development Authority, (Delta Airlines, Inc.), (AMT), 9.00%, 6/1/35
    2,272,637  
  2,625    
Denver, CO, City and County Special Facilities, (United Airlines), (AMT), 5.25%, 10/1/32
    1,993,425  
  2,305    
Denver, CO, City and County Special Facilities, (United Airlines), (AMT), 5.75%, 10/1/32
    1,870,992  
  1,000    
Gulf Coast, TX, Waste Disposal Authority, (Valero Energy Corp.), 5.60%, 4/1/32
    937,390  
 
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Table of Contents

                 
Principal
 		           
Amount
 		           
(000’s omitted)     Security   Value  
$ 2,500    
Gulf Coast, TX, Waste Disposal Authority, (Valero Energy Corp.), (AMT), 5.70%, 4/1/32
  $ 2,373,550  
  1,000    
Indiana Financing Authority, (Duke Energy Indiana, Inc.), 6.00%, 8/1/39
    1,086,170  
  1,590    
Liberty Development Corp., NY, (Goldman Sachs Group, Inc.), 5.25%, 10/1/35
    1,613,977  
  1,350    
Liberty Development Corp., NY, (Goldman Sachs Group, Inc.), 5.25%, 10/1/35(1)
    1,370,390  
  1,600    
Luzerne County, PA, Industrial Development Authority, (Pennsylvania-American Water Co.), 5.50%, 12/1/39
    1,632,560  
  5,000    
New Jersey Economic Development Authority, (Continental Airlines), (AMT), 6.25%, 9/15/29
    4,429,150  
  8,140    
New York, NY, Industrial Development Agency, (American Airlines, Inc. - JFK International Airport), (AMT), 7.75%, 8/1/31
    8,169,223  
  3,500    
New York, NY, Industrial Development Agency, (American Airlines, Inc. - JFK International Airport), (AMT), 8.50%, 8/1/28
    3,587,465  
  4,630    
Phoenix, AZ, Industrial Development Authority, (America West Airlines, Inc.), (AMT), 6.25%, 6/1/19
    3,335,776  
  650    
Puerto Rico Port Authority, (American Airlines, Inc.), (AMT), 6.30%, 6/1/23
    498,095  
  2,090    
Savannah, GA, Economic Development Authority, (Intercat-Savannah), (AMT), 7.00%, 1/1/38
    1,618,057  
  6,980    
St. John Baptist Parish, LA, (Marathon Oil Corp.), 5.125%, 6/1/37
    6,553,871  
                 
            $ 60,132,778  
                 
Insured-Hospital — 13.5%
$ 3,250    
Indiana Health and Educational Facility Finance Authority, (Sisters of St. Francis Health Services), (AGM), 5.25%, 5/15/41(1)
  $ 3,310,320  
  2,625    
Iowa Finance Authority, Health Facilities, (Iowa Health System), (AGC), 5.625%, 8/15/37
    2,735,434  
  15,000    
Kentucky Economic Development Authority, (Norton Healthcare, Inc.), (NPFG), 0.00%, 10/1/25
    5,840,400  
  18,140    
Kentucky Economic Development Authority, (Norton Healthcare, Inc.), (NPFG), 0.00%, 10/1/26(4)
    6,552,712  
  8,590    
Kentucky Economic Development Authority, (Norton Healthcare, Inc.), (NPFG), 0.00%, 10/1/27
    2,888,645  
  2,500    
Maryland Health and Higher Educational Facilities Authority, (Lifebridge Health), (AGC), 4.75%, 7/1/47(1)
    2,425,538  
  10,000    
New Jersey Health Care Facilities Financing Authority, (Meridian Health Center), Series I, (AGC), 5.00%, 7/1/38(1)
    10,046,800  
  750    
New Jersey Health Care Facilities Financing Authority, (Meridian Health Center), Series V, (AGC), 5.00%, 7/1/38(1)
    753,510  
                 
            $ 34,553,359  
                 
Insured-Housing — 0.4%
$ 1,100    
Broward County, FL, Housing Finance Authority, MFMR, (Venice Homes Apartments), (AGM), (AMT), 5.70%, 1/1/32
  $ 1,105,841  
                 
            $ 1,105,841  
                 
Insured-Lease Revenue/Certificates of Participation — 2.1%
$ 2,665    
Hudson Yards, NY, Infrastructure Corp., (NPFG), 4.50%, 2/15/47
  $ 2,310,075  
  3,000    
San Diego County, CA, Water Authority, Certificates of Participation, (AGM), 5.00%, 5/1/38(1)
    3,042,030  
                 
            $ 5,352,105  
                 
Insured-Other Revenue — 3.3%
$ 4,210    
Harris County-Houston, TX, Sports Authority, (NPFG), 0.00%, 11/15/34
  $ 759,400  
  10,325    
New York, NY, Industrial Development Agency, (Yankee Stadium), (AGC), 0.00%, 3/1/36
    2,333,140  
  8,600    
New York, NY, Industrial Development Agency, (Yankee Stadium), (AGC), 0.00%, 3/1/37
    1,816,234  
  3,100    
New York, NY, Industrial Development Agency, (Yankee Stadium), (AGC), 7.00%, 3/1/49
    3,573,680  
                 
            $ 8,482,454  
                 
Insured-Special Tax Revenue — 10.0%
$ 50,000    
Metropolitan Pier and Exposition Authority, IL, (AGM), (NPFG), 0.00%, 12/15/38(4)
  $ 8,614,000  
  34,950    
Miami-Dade County, FL, Professional Sports Franchise Facilities, (AGC), 0.00%, 10/1/37
    6,481,128  
  3,040    
Miami-Dade County, FL, Special Obligation, (NPFG), 0.00%, 10/1/35
    539,478  
  5,000    
Miami-Dade County, FL, Special Obligation, (NPFG), 0.00%, 10/1/38
    699,000  
  5,610    
Miami-Dade County, FL, Special Obligation, (NPFG), 0.00%, 10/1/40
    656,146  
  3,775    
New York Convention Center Development Corp., Hotel Occupancy Tax, (AMBAC), 4.75%, 11/15/45
    3,582,248  
  14,850    
Puerto Rico Sales Tax Financing Corp., (AMBAC), 0.00%, 8/1/54
    856,994  
  8,695    
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/44
    1,074,441  
  17,245    
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45
    1,981,450  
 
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Table of Contents

                 
Principal
 		           
Amount
 		           
(000’s omitted)     Security   Value  
$ 10,850    
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/46
  $ 1,166,267  
                 
            $ 25,651,152  
                 
Insured-Student Loan — 5.9%
$ 4,090    
Maine Educational Loan Authority, (AGC), 5.625%, 12/1/27
  $ 4,283,539  
  805    
Massachusetts Educational Financing Authority, (AGC), (AMT), 6.35%, 1/1/30
    823,869  
  7,940    
Massachusetts Educational Financing Authority, (AMBAC), (AMT), 4.70%, 1/1/33
    6,850,394  
  3,000    
New Jersey Higher Education Assistance Authority, (AGC), (AMT), 6.125%, 6/1/30
    3,178,020  
                 
            $ 15,135,822  
                 
Insured-Transportation — 18.8%
$ 12,425    
Alameda, CA, Corridor Transportation Authority, (NPFG), 0.00%, 10/1/33
  $ 2,578,063  
  3,500    
Chicago, IL, (O’Hare International Airport), (AMBAC), (AMT), 5.375%, 1/1/32
    3,371,305  
  3,850    
Clark County, NV, (Las Vegas-McCarran International Airport), (AGM), 5.25%, 7/1/39
    3,873,254  
  5,500    
Director of the State of Nevada Department of Business and Industry, (Las Vegas Monorail), (AMBAC), 5.375%, 1/1/40
    2,099,240  
  1,000    
Director of the State of Nevada Department of Business and Industry, (Las Vegas Monorail), (AMBAC), 5.625%, 1/1/32
    381,600  
  2,100    
Maryland Transportation Authority, (AGM), 5.00%, 7/1/41(1)
    2,205,830  
  3,770    
Miami-Dade County, FL, Aviation Revenue, (Miami International Airport), (AGC), (CIFG), (AMT), 5.00%, 10/1/38
    3,567,136  
  3,140    
Miami-Dade County, FL, Aviation Revenue, (Miami International Airport), (AGM), (AMT), 5.25%, 10/1/41
    3,082,821  
  15,000    
North Carolina Turnpike Authority, (AGC), 0.00%, 1/1/34
    3,854,400  
  9,820    
Puerto Rico Highway and Transportation Authority, (AGC), (CIFG), 5.25%, 7/1/41(1)
    10,095,647  
  1,610    
San Jose, CA, Airport, (AGM), (AMBAC), (AMT), 5.00%, 3/1/37
    1,499,554  
  2,500    
San Jose, CA, Airport, (AGM), (AMBAC), (BHAC), (AMT), 5.00%, 3/1/37
    2,474,375  
  8,990    
San Jose, CA, Airport, (AMBAC), (AMT), 5.50%, 3/1/32
    9,041,782  
                 
            $ 48,125,007  
                 
Insured-Water and Sewer — 10.5%
$ 3,750    
Austin, TX, Water and Wastewater, (AGM), (BHAC), 5.00%, 11/15/33(1)
  $ 3,868,388  
  17,985    
DeKalb, GA, Water and Sewer, (AGM), 5.00%, 10/1/35(1)
    19,522,897  
  340    
Emerald Coast, FL, Utility Authority Revenue, (FGIC), (NPFG), 4.75%, 1/1/31
    336,430  
  3,250    
Fernley, NV, Water and Sewer, (AGC), 5.00%, 2/1/38(1)
    3,225,690  
                 
            $ 26,953,405  
                 
Lease Revenue/Certificates of Participation — 2.0%
$ 4,400    
Mohave County, AZ, Industrial Development Authority, (Mohave Prison LLC), 8.00%, 5/1/25
  $ 5,008,344  
                 
            $ 5,008,344  
                 
Nursing Home — 1.1%
$ 265    
Orange County, FL, Health Facilities Authority, (Westminster Community Care), 6.60%, 4/1/24
  $ 264,990  
  2,735    
Orange County, FL, Health Facilities Authority, (Westminster Community Care), 6.75%, 4/1/34
    2,620,458  
                 
            $ 2,885,448  
                 
Other Revenue — 14.8%
$ 785    
Brooklyn, NY, Arena Local Development Corp., (Barclays Center), 6.00%, 7/15/30
  $ 806,376  
  880    
Brooklyn, NY, Arena Local Development Corp., (Barclays Center), 6.25%, 7/15/40
    912,762  
  480    
Brooklyn, NY, Arena Local Development Corp., (Barclays Center), 6.375%, 7/15/43
    496,565  
  58,690    
Buckeye Tobacco Settlement Financing Authority, OH, 0.00%, 6/1/47
    2,527,778  
  1,955    
Central Falls, RI, Detention Facility Revenue, 7.25%, 7/15/35
    1,685,816  
  1,535    
Main Street National Gas, Inc., GA, Gas Project Revenue, 5.50%, 9/15/27
    1,502,826  
  7,600    
Michigan Tobacco Settlement Finance Authority, 6.00%, 6/1/48
    6,024,824  
  2,350    
Michigan Tobacco Settlement Finance Authority, 6.875%, 6/1/42
    2,158,757  
  1,500    
Mohegan Tribe Indians Gaming Authority, CT, (Public Improvements), 6.25%, 1/1/21(2)
    1,273,035  
  5    
New Jersey Economic Development Authority, (Duke Farms Foundation), 5.00%, 7/1/48
    5,210  
  2,370    
New Jersey Economic Development Authority, (Duke Farms Foundation), 5.00%, 7/1/48(1)
    2,469,769  
  2,300    
Northern Tobacco Securitization Corp., AK, 0.00%, 6/1/46
    99,521  
  160    
Otero County, NM, Jail Project Revenue, 5.50%, 4/1/13
    157,133  
  360    
Otero County, NM, Jail Project Revenue, 5.75%, 4/1/18
    323,863  
  100    
Otero County, NM, Jail Project Revenue, 6.00%, 4/1/23
    82,806  
 
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Principal
 		           
Amount
 		           
(000’s omitted)     Security   Value  
$ 110    
Otero County, NM, Jail Project Revenue, 6.00%, 4/1/28
  $ 86,736  
  8,000    
Salt Verde Financial Corp., AZ, Senior Gas Revenue, 5.00%, 12/1/37
    6,847,600  
  4,000    
Seminole Tribe, FL, 5.25%, 10/1/27(2)
    3,631,960  
  1,365    
Seminole Tribe, FL, 5.50%, 10/1/24(2)
    1,286,499  
  1,000    
Tennessee Energy Acquisition Corp., Gas Revenue, 5.00%, 2/1/22
    995,430  
  6,905    
Tobacco Settlement Financing Corp., VA, 0.00%, 6/1/47
    281,931  
  4,180    
Tobacco Settlement Financing Corp., VA, 5.00%, 6/1/47
    2,872,036  
  1,415    
White Earth Band of Chippewa Indians, MN, 6.375%, 12/1/26(2)
    1,032,144  
  175    
Willacy County, TX, Local Government Corp., 6.00%, 9/1/10
    174,780  
                 
            $ 37,736,157  
                 
Senior Living/Life Care — 1.6%
$ 3,210    
Cliff House Trust, PA, (AMT), 6.625%, 6/1/27(5)
  $ 1,685,828  
  3,240    
Logan County, CO, Industrial Development, (TLC Care Choices, Inc.), 6.875%, 12/1/23(6)
    2,401,747  
                 
            $ 4,087,575  
                 
Special Tax Revenue — 4.3%
$ 3,280    
Bell Mountain Ranch, CO, Metropolitan District, 6.625%, 11/15/25
  $ 3,284,985  
  80    
Covington Park, FL, Community Development District, (Capital Improvements), 5.00%, 5/1/21
    80,030  
  500    
Covington Park, FL, Community Development District, (Capital Improvements), 5.00%, 5/1/31
    448,170  
  700    
Denver, CO, Urban Renewal Authority, 8.00%, 12/1/24
    598,374  
  205    
Dupree Lakes, FL, Community Development District, 5.00%, 11/1/10
    175,054  
  205    
Dupree Lakes, FL, Community Development District, 5.00%, 5/1/12
    148,658  
  350    
Dupree Lakes, FL, Community Development District, 5.375%, 5/1/37
    257,519  
  305    
Heritage Harbor South, FL, Community Development District, (Capital Improvements), 6.20%, 5/1/35
    293,700  
  220    
Heritage Springs, FL, Community Development District, 5.25%, 5/1/26
    191,308  
  190    
Longleaf, FL, Community Development District, 6.20%, 5/1/09(7)
    94,639  
  340    
New River, FL, Community Development District, (Capital Improvements), 5.00%, 5/1/13
    135,966  
  140    
New River, FL, Community Development District, (Capital Improvements), 5.35%, 5/1/38
    56,224  
  330    
North Springs, FL, Improvement District, (Heron Bay), 5.20%, 5/1/27
    216,236  
  560    
North Springs, FL, Improvement District, (Heron Bay), 7.00%, 5/1/19
    560,274  
  970    
River Hall, FL, Community Development District, (Capital Improvements), 5.45%, 5/1/36
    467,899  
  470    
Southern Hills Plantation I, FL, Community Development District, 5.80%, 5/1/35
    239,564  
  600    
Sterling Hill, FL, Community Development District, 6.20%, 5/1/35
    564,366  
  700    
University Square, FL, Community Development District, 6.75%, 5/1/20
    703,605  
  1,780    
Virgin Islands Public Finance Authority, 6.75%, 10/1/37
    1,932,190  
  670    
Waterlefe, FL, Community Development District, 6.95%, 5/1/31
    672,854  
                 
            $ 11,121,615  
                 
Transportation — 11.3%
$ 1,350    
Augusta, GA, (AMT), 5.35%, 1/1/28
  $ 1,216,404  
  915    
Branson, MO, Regional Airport Transportation Development District, (Branson Airport, LLC), (AMT), 6.00%, 7/1/25
    661,801  
  1,800    
Branson, MO, Regional Airport Transportation Development District, (Branson Airport, LLC), (AMT), 6.00%, 7/1/37
    1,177,902  
  1,000    
Los Angeles Department of Airports, CA, (Los Angeles International Airport), (AMT), 5.375%, 5/15/33
    1,021,560  
  400    
Memphis-Shelby County, TN, Airport Authority, (AMT), 5.75%, 7/1/24
    424,972  
  4,000    
Miami-Dade County, FL, Aviation Revenue, (Miami International Airport), 5.50%, 10/1/36
    4,077,440  
  1,515    
North Texas Tollway Authority, 5.75%, 1/1/38
    1,541,649  
  7,290    
Port Authority of New York and New Jersey, (AMT), 5.75%, 3/15/35(1)
    7,707,984  
  1,250    
Texas Private Activity Bond Surface Transportation Corp., (North Tarrant Express Managed Lanes Project), 6.875%, 12/31/39
    1,299,213  
  9,300    
Triborough Bridge & Tunnel Authority, NY, 5.00%, 11/15/37(1)
    9,661,258  
                 
            $ 28,790,183  
                 
Water and Sewer — 3.0%
$ 3,405    
Massachusetts Water Resources Authority, 4.00%, 8/1/46
  $ 2,886,214  
 
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Principal
 		           
Amount
 		           
(000’s omitted)     Security   Value  
$ 4,500    
New York, NY, Municipal Water Finance Authority, (Water and Sewer System), 5.25%, 6/15/40(1)
  $ 4,789,140  
                 
            $ 7,675,354  
                 
         
Total Tax-Exempt Investments — 184.7%
(identified cost $483,782,357)
  $ 472,563,427  
         
         
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (47.0)%
  $ (120,154,193 )
         
         
Other Assets, Less Liabilities — (37.7)%
  $ (96,611,027 )
         
         
Net Assets Applicable to Common Shares — 100.0%
  $ 255,798,207  
         
 
             
The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares.
 
             
         
AGC
  -   Assured Guaranty Corp.
         
AGM
  -   Assured Guaranty Municipal Corp.
         
AMBAC
  -   AMBAC Financial Group, Inc.
         
AMT
  -   Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax.
         
BHAC
  -   Berkshire Hathaway Assurance Corp.
         
CIFG
  -   CIFG Assurance North America, Inc.
         
FGIC
  -   Financial Guaranty Insurance Company
         
FNMA
  -   Federal National Mortgage Association
         
GNMA
  -   Government National Mortgage Association
         
MFMR
  -   Multi-Family Mortgage Revenue
         
NPFG
  -   National Public Finance Guaranty Corp.
 
At February 28, 2010, the concentration of the Trust’s investments in the various states, determined as a percentage of total investments, is as follows:
             
             
        New York   15.2%
        California   12.2%
        Others, representing less than 10% individually   72.6%
 
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 February 28, 2010, 35.0% 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 ranged from 0.1% to 12.5% of total investments.
         
(1)
      Security represents the underlying municipal bond of an inverse floater.
         
(2)
      Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be sold in certain transactions and remain exempt from registration, normally to qualified institutional buyers. At February 28, 2010, the aggregate value of these securities is $16,117,020 or 6.3% of the Trust’s net assets applicable to common shares.
         
(3)
      When-issued security.
         
(4)
      Security (or a portion thereof) has been segregated to cover payable for when-issued securities.
         
(5)
      Defaulted bond.
         
(6)
      Security is in default and making only partial interest payments.
         
(7)
      Defaulted matured bond.
 
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The Trust did not have any open financial instruments at February 28, 2010.
 
The cost and unrealized appreciation (depreciation) of investments of the Trust at February 28, 2010, as determined on a federal income tax basis, were as follows:
 
         
Aggregate cost
  $ 389,838,800  
         
Gross unrealized appreciation
  $ 21,745,167  
Gross unrealized depreciation
    (32,525,540 )
         
Net unrealized depreciation
  $ (10,780,373 )
         
 
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)
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
 
At February 28, 2010, the inputs used in valuing the Trust’s investments, which are carried at value, were as follows:
 
                                 
    Quoted Prices in
                   
    Active Markets for
 		    Significant Other
 		    Significant
 		       
    Identical Assets     Observable Inputs     Unobservable Inputs        
       
Asset Description   (Level 1)     (Level 2)     (Level 3)     Total  
   
Tax-Exempt Investments
  $ —     $ 472,563,427     $ —     $ 472,563,427  
 
 
Total Investments
  $ —     $ 472,563,427     $ —     $ 472,563,427  
 
 
 
The Trust held no investments or other financial instruments as of November 30, 2009 whose fair value was determined using Level 3 inputs.
 
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.
 
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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.

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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/ Thomas M. Metzold    
         
    Thomas M. Metzold    
    President    
         
Date:
  April 26, 2010    
 
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/ Thomas M. Metzold    
         
    Thomas M. Metzold    
    President    
         
Date:
  April 26, 2010    
         
By:
  /s/ Barbara E. Campbell    
         
    Barbara E. Campbell    
    Treasurer    
         
Date:
  April 26, 2010