As filed with the Securities and Exchange Commission on September 29, 2006
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-21168
NEUBERGER BERMAN INTERMEDIATE MUNICIPAL FUND INC.
-------------------------------------------------
(Exact Name of the Registrant as Specified in Charter)
605 Third Avenue, 2nd Floor
New York, New York 10158-0180
(Address of Principal Executive Offices - Zip Code)
Registrant's telephone number, including area code: (212) 476-8800
Peter E. Sundman, Chief Executive Officer
Neuberger Berman Intermediate Municipal Fund Inc.
605 Third Avenue, 2nd Floor
New York, New York 10158-0180
Arthur Delibert, Esq.
Kirkpatrick & Lockhart Nicholson Graham LLP
1601 K Street, N.W.
Washington, D.C. 20006-1600
(Names and addresses of agents for service)
Date of fiscal year end: October 31, 2006
Date of reporting period: July 31, 2006
Form N-Q is to be used by management investment companies to file reports with
the Commission not later than 60 days after the close of their first and third
fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of
1940 ("1940 Act") (17 CFR 270.30b1-5). The Commission may use the information
provided on Form N-Q in its regulatory, disclosure review, inspection, and
policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-Q unless the
Form displays a currently valid Office of Management and Budget ("OMB") control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to
Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC
20549-0609. The OMB has reviewed this collection of information under the
clearance requirements of 44 U.S.C. ss. 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
NEUBERGER BERMAN JULY 31, 2006 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc.
--------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
ALABAMA (1.5%)
4,210 DCH Hlth. Care Au. Hlth. Care Fac. Rev., Ser. 2002,
5.25%, due 6/1/14 A1 A+ 4,439
---------
ARIZONA (1.1%)
1,465 Arizona Energy Management Svcs. (Main) LLC Energy
Conservation Rev. (Arizona St. Univ. Proj.-Main
Campus), Ser. 2002, (MBIA Insured), 5.25%, due 7/1/17 Aaa AAA 1,559
1,750 Verrado Comm. Fac. Dist. Number 1 G.O., Ser.
2003, 6.15%, due 7/15/17 1,851(^^)
---------
3,410
---------
CALIFORNIA (7.6%)
3,500 California Poll. Ctrl. Fin. Au. Solid Waste Disp. Rev.
(Republic Svc., Inc. Proj.), Ser. 2002 B, 5.25%, due
6/1/23 Putable 12/1/17 Baa2 BBB+ 3,661(B)
2,000 California Poll. Ctrl. Fin. Au. Solid Waste Disp. Rev.
(Waste Management, Inc. Proj.), Ser. 2005 C, 5.13%,
due 11/1/23 BBB 2,047(B)
2,500 California St. Dept. of Wtr. Res. Pwr. Supply Rev.,
Ser. 2002 A, 5.75%, due 5/1/17 Aaa A- 2,779
3,460 California St. Dept. of Wtr. Res. Pwr. Supply Rev.,
Ser. 2002 A, 5.38%, due 5/1/22 Aaa A- 3,780
1,500 California St. Pub. Works Board Lease Rev., Ser. 2002
A, (AMBAC Insured), 5.25%, due 12/1/17 Aaa AAA 1,601
1,240 California Statewide CDA Hlth. Fac. Rev. (Mem. Hlth.
Svcs.), Ser. 2003 A, 6.00%, due 10/1/16 A3 A+ 1,347(B)
3,000 Golden St. Tobacco Securitization Corp. Tobacco
Settlement Asset-Backed Rev., Ser. 2003 A-1, 6.25%,
due 6/1/33 Baa3 BBB 3,278
2,080 Oakland Redev. Agcy. Sub. Tax Allocation Rev. (Central
Dist. Redev. Proj.), Ser. 2003, (FGIC Insured), 5.50%,
due 9/1/18 Aaa AAA 2,243
740 San Diego Redev. Agcy. Sub. Parking Rev. (Centre City
Redev. Proj.), Ser. 2003 B, 5.00%, due 9/1/17 Baa2 756
1,500 Santa Rosa Rancheria Tachi Yokut Tribe Enterprise
Rev., Ser. 2006, 4.88%, due 3/1/16 1,495(^^)
----------
22,987
----------
COLORADO (5.3%)
4,220 Colorado Springs Util. Sys. Sub. Lien Ref. Rev., Ser.
2002 A, (AMBAC Insured), 5.38%, due 11/15/18 Aaa AAA 4,517
4,000 Denver City & Co. Arpt. Sys. Ref. Rev., Ser. 2002 E,
(FGIC Insured), 5.25%, due 11/15/14 Aaa AAA 4,230
2,000 Denver City & Co. Arpt. Sys. Rev., Ser. 1991 D, 7.75%,
due 11/15/13 Aaa AAA 2,269
4,610 Thornton Cert. of Participation, Ser. 2002, (AMBAC
Insured), 5.38%, due 12/1/16 Aaa AAA 4,953
----------
15,969
----------
CONNECTICUT (0.8%)
2,400 Mashantucket Western Pequot Tribe Spec. Rev., Sub.
Ser. 1997 B, 5.70%, due 9/1/12 Baa3 2,489(n)
----------
DISTRICT OF COLUMBIA (1.6%)
4,495 Dist. of Columbia (Washington, D.C.) Ref. G.O., Ser.
2002 C, 5.25%, due 6/1/13 Aaa AAA 4,777
----------
FLORIDA (8.9%)
2,500 Broward Co. G.O., Ser. 2001 A, 5.25%, due 1/1/18 Aa1 AA+ 2,645
See Notes to Schedule of Investments 1
NEUBERGER BERMAN JULY 31, 2006 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
2,805 Fiddlers Creek Comm. Dev. Dist. Number 2 Spec.
Assessment Rev., Ser. 2003 A, 6.00%, due 5/1/16 2,892(^^)
1,750 Miami Beach Hlth. Fac. Au. Hosp. Ref. Rev. (Mount
Sinai Med. Ctr. of Florida Proj.), Ser. 2004, 6.25%,
due 11/15/09 Ba2 BB+ 1,837(B)
8,140 Orange Co. Sales Tax Ref. Rev., Ser. 2002 A, (FGIC
Insured), 5.13%, due 1/1/18 Aaa AAA 8,620
2,085 Palm Beach Co. Hlth. Fac. Au. Hosp. Ref. Rev. (BRCH
Corp. Oblig. Group), Ser. 2001, 5.00%, due 12/1/12 A 2,148(B)
7,000 Palm Beach Co. Sch. Board Cert. of Participation, Ser.
2001 B, (AMBAC Insured), 5.38%, due 8/1/17 Aaa AAA 7,499
1,000 Sarasota Co. Util. Sys. Ref. Rev., Ser. 2002 C, (FGIC
Insured), 5.25%, due 10/1/20 Aaa AAA 1,061
----------
26,702
----------
GEORGIA (2.6%)
4,575 Henry Co. Wtr. & Swr. Au. Wtr. & Swr. Ref. Rev., Ser.
2002 A, (MBIA Insured), 5.13%, due 2/1/17 Aaa AAA 4,898
2,710 Newnan Hosp. Au. Rev. Anticipation Cert. (Newnan
Hosp., Inc. Proj.), Ser. 2002, (MBIA Insured), 5.50%,
due 1/1/18 Aaa 2,930(B)
----------
7,828
----------
ILLINOIS (11.9%)
5,000 Chicago G.O., Ser. 1995 A-2, (AMBAC Insured), 6.25%,
due 1/1/13 Aaa AAA 5,643
180 Chicago G.O., Ser. 2002 A, (AMBAC Insured), 5.38%, due
1/1/17 Aaa AAA 192
5,940 Chicago G.O., Ser. 2002 A, (AMBAC Insured), 5.38%, due
1/1/17 P/R 7/1/12 Aaa AAA 6,421
1,500 Chicago Metro. Wtr. Reclamation Dist. Cap. Imp. G.O.,
Ser. 2002 C, 5.38%, due 12/1/16 Aaa AAA 1,611
5,130 Illinois Ed. Fac. Au. Rev. (Field Museum of
Natural History), Ser. 2002, 4.30%, due 11/1/36 A2 A 5,133(B)
4,000 Illinois Fin. Au. Rev. (Clare Oaks Proj.), Ser. 2006
A, 5.75%, due 11/15/16 4,055(^^)(B)
5,000 Illinois G.O., Ser. 2002, (MBIA Insured), 5.25%, due 10/1/14 Aaa AAA 5,352
3,000 Illinois Hlth. Fac. Au. Rev. (Loyola Univ. Hlth. Sys.), Ser.
1997 A, (MBIA Insured), 6.00%, due 7/1/14 Aaa AAA 3,364(B)
1,670 Illinois Metro. Pier & Exposition Au. Dedicated St.
Tax Ref. Rev., Ser. 1998 A, 5.50%, due 6/15/17 Aaa AAA 1,872
2,000 Kane, Cooke, & DuPage Cos. Elgin Sch. Dist. Number
U-46 G.O., Ser. 1998, (FSA Insured), 5.35%, due 1/1/15 Aaa 2,125
----------
35,768
----------
INDIANA (8.3%)
1,995 Indiana Bond Bank Rev. (St. Revolving Fund Prog.),
Ser. 2001 A, 5.38%, due 2/1/17 AAA 2,180
760 Indiana Bond Bank Rev. (St. Revolving Fund Prog.),
Ser. 2001 B, 5.25%, due 2/1/18 AAA 819
8,005 Indiana Bond Bank Rev. (Unrefunded Bal. Revolving Fund
Prog.), Ser. 2001 A, 5.38%, due 2/1/17 AAA 8,643
2,800 Indiana Bond Bank Rev. (Unrefunded Bal. Revolving Fund
Prog.), Ser. 2002 B, 5.25%, due 2/1/18 AAA 2,974
1,000 Indiana Muni. Pwr. Agcy. Pwr. Supply Sys. Rev., Ser.
2002 B, (MBIA Insured), 5.25%, due 1/1/18 Aaa AAA 1,060
2,050 Indiana St. Hlth. Fac. Fin. Au. Rev. (Hlth. Sys.
Sisters of St. Francis), Ser. 2001, 5.35%, due 11/1/15 Aa3 2,178(B)
See Notes to Schedule of Investments 2
NEUBERGER BERMAN JULY 31, 2006 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
1,065 Indiana St. Recreational Dev. Comm. Rev., Ser. 2002,
(AMBAC Insured), 5.25%, due 7/1/18 Aaa AAA 1,121
1,125 Indiana St. Recreational Dev. Comm. Rev., Ser. 2002,
(AMBAC Insured), 5.25%, due 7/1/19 Aaa AAA 1,182
2,580 Indianapolis Local Pub. Imp. Rev. (Indianapolis Arpt.
Au. Proj.), Ser. 2003 A, (FSA Insured), 5.63%, due
1/1/17 Aaa AAA 2,758
2,000 Jasper Hosp. Au. Hosp. Fac. Ref. Rev. (Mem. Hosp. &
Hlth. Care Ctr. Proj.), Ser. 2002, 5.50%, due 11/1/17 AA 2,133(B)
----------
25,048
----------
IOWA (2.0%)
3,000 Iowa Tobacco Settlement Au. Tobacco Settlement
Asset-Backed Rev., Ser. 2001 B, 5.30%, due 6/1/25 AAA 3,166
3,000 Iowa Tobacco Settlement Au. Tobacco Settlement
Asset-Backed Rev., Ser. 2005 C, 5.38%, due 6/1/38 Baa3 BBB 3,004
----------
6,170
----------
LOUISIANA (1.2%)
2,500 Morehouse Parish Ref. PCR (Int'l. Paper Co. Proj.),
Ser. 2001 A, 5.25%, due 11/15/13 Baa2 BBB 2,584(B)
1,000 Tobacco Settlement Fin. Tobacco Settlement
Asset-Backed Rev., Ser. 2001 B, 5.50%, due 5/15/30 Baa3 BBB 1,039
----------
3,623
----------
MARYLAND (2.3%)
1,000 Maryland St. Hlth. & Higher Ed. Fac. Au. Rev. (Union
Hosp. of Cecil Co.), Ser. 2002, 5.50%, due 7/1/14 A3 1,052(B)
400 Prince George's Co. Unrefunded Balance Cons. Pub. Imp.
G.O., Ser. 2001, (FGIC Insured), 5.25%, due 12/1/16 Aaa AAA 429
5,100 Prince George's Co., Pre-Refunded Cons. Pub. Imp.
G.O., Ser. 2001, 5.25%, due 12/1/16 P/R 12/1/11 Aaa AAA 5,498
----------
6,979
----------
MASSACHUSETTS (8.7%)
3,000 Massachusetts Port Au. Spec. Fac. Rev. (Delta Air
Lines, Inc. Proj.), Ser. 2001 A, (AMBAC Insured),
5.50%, due 1/1/19 Aaa AAA 3,108(B)
1,850 Massachusetts St. G.O., Ser. 2002 E, (MBIA Insured),
5.38%, due x 1/1/18 Aaa AAA 2,000
2,450 Massachusetts St. Hlth. & Ed. Fac. Au. Rev. (Caritas
Christi Oblig. Group), Ser. 1999 A, 5.70%, due 7/1/15 Baa3 BBB 2,536(B)
2,810 Massachusetts St. Hlth. & Ed. Fac. Au. Rev. (Milford-
Whitinsville Reg. Hosp.), Ser. 1998 C, 5.75%, due
7/15/13 Baa3 BBB- 2,885(B)
4,935 Massachusetts St. Hlth. & Ed. Fac. Au. Rev. (New
England Med. Ctr. Hosp.), Ser. 2002 H, (FGIC Insured),
5.38%, due 5/15/16 Aaa AAA 5,295(B)
2,000 Massachusetts St. Wtr. Poll. Abatement Trust
Pre-Refunded Rev. (Pool Prog.), Ser. 2001, 5.25%, due
2/1/16 P/R 8/1/11 Aaa AAA 2,122
5,030 Massachusetts St. Wtr. Poll. Abatement Trust Rev.
(MWRA Prog.), Ser. 2002 A, 5.25%, due 8/1/19 Aaa AAA 5,365
See Notes to Schedule of Investments 3
NEUBERGER BERMAN JULY 31, 2006 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
2,775 Massachusetts St. Wtr. Poll. Abatement Trust
Unrefunded Balance Rev. (Pool Prog.), Ser. 2001,
5.25%, due 2/1/16 Aaa AAA 2,958
----------
26,269
----------
MICHIGAN (6.6%)
3,075 Detroit Sch. Dist. Sch. Bldg. & Site Imp. G.O., Ser.
2002 A, (FGIC Insured), 5.50%, due 5/1/15 Aaa AAA 3,368
1,070 Ingham & Clinton Cos. East Lansing Bldg. Au. Ref.
G.O., Ser. 1999, 5.25%, due 10/1/16 AA 1,114
1,375 Macomb Co. New Haven Comm. Sch. Bldg. & Site G.O.,
Ser. 2002, 5.25%, due 5/1/17 Aa2 AA 1,483
1,500 Michigan St. Bldg. Au. Rev. (Fac. Prog.), Ser. 2001
II, 5.50%, due 10/15/18 Aa3 AA- 1,616
5,000 Michigan St. Hsg. Dev. Au. Single-Family Mtge. Rev.,
Ser. 2001 A, (MBIA Insured), 5.30%, due 12/1/16 Aaa AAA 5,120
3,850 Royal Oak Hosp. Fin. Au. Hosp. Ref. Rev. (William
Beaumont Hosp.), Ser. 1996 I, 6.25%, due 1/1/12 Aa3 AA- 4,225(B)
1,000 Summit Academy North Pub. Sch. Academy Ref. Rev., Ser.
2005, 6.00%, due 11/1/15 BB+ 993
2,000 Summit Academy North Pub. Sch. Academy Ref. Rev., Ser.
2005, 5.25%, due 11/1/20 BB+ 1,909
----------
19,828
----------
MINNESOTA (1.6%)
2,000 Freeborn Co. Hsg. & Redev. Au. Lease Rev. (Criminal
Justice Ctr. Proj.), Ser. 2002, 5.38%, due 2/1/17 Baa1 2,084
2,540 St. Paul Port Au. Lease Rev. (Office Bldg. at Cedar
Street), Ser. 2002, 5.00%, due 12/1/17 Aa2 AA+ 2,642
----------
4,726
----------
MISSOURI (4.1%)
3,495 Bi State Dev. Agcy. Metro. Dist. Rev. (Metrolink Cross
Co. Extension Proj.), Ser. 2002 B, (FSA Insured),
5.25%, due 10/1/16 Aaa AAA 3,758
2,000 Boone Co. Hosp. Ref. Rev. (Boone Hosp. Ctr.), Ser.
2002, 5.05%, due 8/1/20 A3 2,040(B)
2,425 Branson Dev. Fin. Board Infrastructure Fac. Board
Rev., Ser. 2003 A, 5.00%, due 12/1/17 Baa1 BBB+ 2,448
750 Branson Ind. Dev. Au. Ltd. Oblig. Tax Increment Rev.
(Branson Landing-Retail Proj.), Ser. 2005, 5.25%, due
6/1/21 746(^^)
2,000 Missouri St. Env. Imp. & Energy Res. Au. Wtr. Poll.
Ctrl. & Drinking Wtr. Rev., Ser. 2002 B, 5.50%, due
7/1/16 Aaa 2,178
845 Missouri St. Hsg. Dev. Comm. Multi-Family Hsg. Rev.,
Ser. 2001 II, 5.25%, due 12/1/16 AA 872
245 Missouri St. Hsg. Dev. Comm. Multi-Family Hsg. Rev.,
Ser. 2001 III, 5.05%, due 12/1/15 AA 254
----------
12,296
----------
NEVADA (5.3%)
5,335 Clark Co. Passenger Fac. Charge Ref. Rev. (Las
Vegas-McCarran Int'l. Arpt. Proj.), Ser. 2002 A, (MBIA
Insured), 5.25%, due 7/1/10 Aaa AAA 5,556
4,355 Las Vegas Valley Wtr. Dist. Ref. & Wtr. Imp. G.O.,
Ser. 2003 A, (FGIC Insured), 5.25%, due 6/1/16 Aaa AAA 4,634
5,395 Truckee Meadows Wtr. Au. Wtr. Rev., Ser. 2001 A, (FSA
Insured), 5.50%, due 7/1/15 Aaa AAA 5,720
----------
15,910
See Notes to Schedule of Investments 4
NEUBERGER BERMAN JULY 31, 2006 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
NEW HAMPSHIRE (1.8%)
3,310 New Hampshire Hlth. Ed. Fac. Au. Rev. (Univ. Sys. of
New Hampshire), Ser. 1992, (AMBAC Insured), 5.38%, due
7/1/17 Aaa AAA 3,571
1,700 New Hampshire Hlth. Ed. Fac. Au. Rev. (Univ. Sys. of
New Hampshire), Ser. 1992, (AMBAC Insured), 5.38%, due
7/1/17 Aaa AAA 1,808
----------
5,379
----------
NEW JERSEY (6.0%)
5,000 New Jersey Bldg. Au. St. Bldg. Ref. Rev., Ser. 2002 B,
(FSA Insured), 5.25%, due 12/15/15 Aaa AAA 5,345
1,500 New Jersey Econ. Dev. Au. Cigarette Tax Rev., Ser.
2004, 5.63%, due 6/15/19 Baa2 BBB 1,565
6,900 New Jersey Ed. Fac. Au. Rev. (Stevens Institute of
Technology), Ser. 2002 C, 5.25%, due 7/1/17 Baa2 BBB+ 7,208(B)
4,000 New Jersey Hlth. Care Fac. Fin. Au. Rev. (Somerset
Med. Ctr. Issue), Ser. 2003, 5.50%, due 7/1/18 Baa3 4,113(B)
----------
18,231
----------
NEW YORK (6.1%)
1,210 Lyons Comm. Hlth. Initiatives Corp. Fac. Rev., Ser.
2004, 5.50%, due 9/1/14 A2 1,284
3,250 New York City G.O., Ser. 2002 C, 5.50%, due 8/1/15 A1 A+ 3,496
2,580 New York City IDA Civic Fac. Rev. (Lycee Francais de
New York Proj.), Ser. 2002 A, 5.50%, due 6/1/14 A 2,697(B)
2,750 New York City IDA Liberty Rev. (7 World Trade Center, LLC
Proj.), Ser. 2005 A, 6.25%, due 3/1/15 2,926(^^)
1,750 New York City IDA Spec. Fac. Rev. (American Airlines,
Inc. J.F.K. Int'l. Arpt. Proj.), Ser. 2005, 7.50%, due
8/1/16 B 1,954(B)
1,000 New York Convention Ctr. Operating Corp. Cert. of
Participation (Yale Bldg. Acquisition Proj.), Ser.
2003, 5.25%, due 6/1/08 Aa1 1,022
3,500 New York St. Dorm. Au. Personal Income Tax Rev., Ser.
2003 A, 5.38%, due 3/15/20 Aa3 AAA 3,813
1,300 New York St. Urban Dev. Corp. Ref. Rev. (Correctional
Cap. Fac.), Ser. 1998, 5.00%, due 1/1/14 A1 AA- 1,348
----------
18,540
----------
NORTH DAKOTA (1.5%)
4,100 Fargo Hlth. Sys. Rev. (Meritcare Obligated Group),
Ser. 2002 A, (AMBAC Insured), 5.63%, due 6/1/17 Aaa AAA 4,396(B)
----------
OHIO (2.8%)
1,000 Coshocton Co. Env. Imp. Ref. Rev. (Smurfit-Stone
Container Enterprises, Inc. Proj.), Ser. 2005, 5.13%,
due 8/1/13 CCC+ 971(B)
3,000 Moraine Solid Waste Disp. Rev. (General Motors Corp.
Proj.), Ser. 1994, 6.75%, due 7/1/14 Caa1 B- 3,167(B)
3,760 Ohio Air Quality Dev. Au. Env. Imp. Ref. Rev. (USX
Corp. Proj.), Ser. 1995, 5.00%, due 11/1/15 Baa1 BBB+ 3,918(B)
400 Ohio St Solid Waste Rev. (BP Exploration & Oil Proj.),
Ser. 1999, 3.69%, due 8/1/06 Aa1 AA+ 400(u)(B)
----------
8,456
----------
See Notes to Schedule of Investments 5
NEUBERGER BERMAN JULY 31, 2006 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
PENNSYLVANIA (5.7%)
1,765 Cumberland Co. West Shore Area Au. Hosp. Rev. (Holy
Spirit Hosp. of the Sisters of Christian Charity
Proj.), Ser. 2001, 6.05%, due 1/1/19 BBB 1,867(B)
565 Delaware River Joint Toll Bridge Comm. Sys. Rev., Ser.
2003, 5.25%, due 7/1/18 P/R 7/1/13 A2 A- 610
435 Delaware River Joint Toll Bridge Comm. Sys. Rev., Ser.
2003, 5.25%, due 7/1/18 A2 A- 459
2,000 Lehigh Co. Gen. Purp. Au. Rev. (KidsPeace Oblig.
Group), Ser. 1998, 6.00%, due 11/1/23 B2 1,902(B)
5,000 Montgomery Co. Higher Ed. & Hlth. Au. Hosp. Rev.
(Abington Mem. Hosp. Proj.), Ser. 2002 A, 5.00%, due
6/1/19 A 5,075(B)
1,000 Pennsylvania Econ. Dev. Fin. Au. Res. Rec. Ref. Rev.
(Colver Proj.), Ser. 2005 G, 5.13%, due 12/1/15 981(^^)
2,000 Philadelphia Arpt. Ref. Rev. (Philadelphia Arpt.
Sys.), Ser. 1998 A, (FGIC Insured), 5.38%, due 6/15/14 Aaa AAA 2,082
2,000 Sayre Hlth. Care Fac. Au. Rev. (Guthrie Hlth. Proj.),
Ser. 2002 A, 5.75%, due 12/1/21 A- 2,134(B)
2,000 Westmoreland Co. IDA Gtd. Rev. (National Waste &
Energy Corp., Valley Landfill Expansion Proj.), Ser.
1993, 5.10%, due 5/1/18 BBB 2,037(B)
----------
17,147
----------
SOUTH CAROLINA (5.5%)
1,100 Charleston Co. Sch. Dist. G.O., Ser. 2001, (FSA
Insured), 5.00%, due 2/1/18 Aaa AAA 1,148
2,140 Mt. Pleasant Town Waterworks & Swr. Sys. Ref. & Imp.
Rev., Ser. 2002, (FGIC Insured), 5.25%, due 12/1/17 Aaa AAA 2,287
2,345 South Carolina Jobs Econ. Dev. Au. Hosp. Ref. Rev.
(Palmetto Hlth. Alliance), Ser. 2003 A, 6.00%, due
8/1/13 Baa1 BBB+ 2,502(B)
2,000 South Carolina Jobs Econ. Dev. Au. Hosp. Ref. Rev.
(Palmetto Hlth. Alliance), Ser. 2003 A, 6.13%, due
8/1/23 Baa1 BBB+ 2,134(B)
4,665 South Carolina St. Pub. Svc. Au. Rev., Ser. 2002 B,
(FSA Insured), 5.38%, due 1/1/18 Aaa AAA 4,969
3,500 Union Co. IDR (Federal Paper Board Co., Inc. Proj.),
Ser. 1989, 4.55%, due 11/1/09 Baa3 BBB 3,479(B)
----------
16,519
----------
TENNESSEE (2.1%)
3,015 Knox Co. Hlth., Ed. & Hsg. Fac. Board Hosp. Ref. &
Imp. Rev., Ser. 2002 A, (FSA Insured), 5.50%, due
1/1/18 Aaa AAA 3,209(B)
3,085 Memphis-Shelby Co. Arpt. Au. Spec. Fac. Ref. Rev.
(Federal Express Corp.), Ser. 2002, 5.05%, due 9/1/12 Baa2 BBB 3,214(B)
----------
6,423
----------
TEXAS (22.5%)
4,145 Anson Ed. Fac. Corp. Std. Hsg. Rev. (Univ. of Texas at
Dallas- Waterview Park Proj.), Ser. 2002, 5.00%, due
1/1/23 A 4,182(B)
See Notes to Schedule of Investments 6
NEUBERGER BERMAN JULY 31, 2006 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
1,000 Austin Convention Enterprises, Inc. Convention Ctr.
Hotel First Tier Rev., Ser. 2001 A, 6.38%, due 1/1/16 Baa3 BBB- 1,059
3,300 Brazos River Au. Ref. PCR (TXU Energy Co. LLC Proj.),
Ser. 2003 A, 6.75%, due 4/1/38 Putable 4/1/13 Baa2 BBB- 3,691(B)
1,000 Brazos River Au. Ref. PCR (TXU Energy Co. LLC Proj.),
Ser. 2003 D, 5.40%, due 10/1/29 Putable 10/1/14 BBB- 1,044(B)
1,000 Brazos River Au. Ref. Rev. (Reliant Energy, Inc.
Proj.), Ser. 1999 B, 7.75%, due 12/1/18 BBB- 1,073(B)
3,600 Corpus Christi Tax & Muni. Hotel Occupancy Tax G.O.,
Ser. 2002, (FSA Insured), 5.50%, due 9/1/17 Aaa AAA 3,893
2,100 Dallas-Fort Worth Int'l. Arpt. Fac. Imp. Corp. Rev.,
Ser. 2004 A-1, 6.15%, due 1/1/16 Ba2 2,134(B)
1,935 Dallas-Fort Worth Int'l. Arpt. Imp. Rev., Ser. 2004 B,
(FSA Insured), 5.50%, due 11/1/18 Aaa AAA 2,061
1,000 Denton, Tarrant, & Wise Cos. Northwest Ind. Sch. Dist.
Unlimited Sch. Bldg. & Ref. G.O., Ser. 2002, 5.50%,
due 8/15/17 Aaa 1,084
1,750 Ector Co. Hosp. Dist. Hosp. Rev., Ser. 2002 A, 5.63%,
due 4/15/16 A3 BBB+ 1,808
1,745 Ector Co. Hosp. Dist. Hosp. Rev., Ser. 2002 A, 5.63%,
due 4/15/17 A3 BBB+ 1,800
7,000 Harris Co. Toll Road Sr. Lien Ref. Rev., Ser. 2002,
(FSA Insured), 5.38%, due 8/15/16 Aaa AAA 7,527
3,235 Houston Arpt. Sys. Sub. Lien. Ref. Rev., Ser. 2001 A,
(FGIC Insured), 5.50%, due 7/1/16 Aaa AAA 3,424
4,955 Houston Pub. Imp. Ref. G.O., Ser. 2002, (MBIA
Insured), 5.25%, due 3/1/17 Aaa AAA 5,254
2,000 Lubbock Hlth. Fac. Dev. Corp. Rev. (St. Joseph Hlth.
Sys.), Ser. 1998, 5.25%, due 7/1/16 Aa3 AA- 2,069(B)
4,780 North Central Hlth. Fac. Dev. Corp. Hosp. Ref. Rev.
(Baylor Hlth. Care Sys. Proj.), Ser. 1998, 5.10%, due
5/15/13 Aa3 AA- 4,964(B)
6,795 San Antonio Ind. Sch. Dist. Unlimited Tax G.O., Ser.
2001 B, 5.38%, due 8/15/17 Aaa AAA 7,223
20 San Antonio Pre-Refunded Cert. of Obligation G.O.,
Ser. 2002, 5.00%, due 2/1/14 P/R 2/1/12 Aa2 AA+ 21
1,240 San Antonio Unrefunded Balance Cert. of Obligation
G.O., Ser. 2002, 5.00%, due 2/1/14 Aa2 AA+ 1,298
1,910 Southmost Reg. Wtr. Au. Wtr. Supply Contract Rev.
(Desalination Plant Proj.), Ser. 2002, (MBIA Insured),
5.50%, due 9/1/19 Aaa 2,046
4,200 Tarrant Reg. Wtr. Dist. Wtr. Ref. & Imp. Rev., Ser.
2002, (FSA Insured), 5.38%, due 3/1/16 Aaa AAA 4,503
420 Texas Std. Hsg. Corp. Std. Hsg. Rev. (Midwestern St.
Univ. Proj.), Ser. 2002, 5.50%, due 9/1/12 Baa3 432
1,000 Trinity River Au. Imp. & Ref. Rev. (Tarrant Co. Wtr.
Proj.), Ser. 2003, (MBIA Insured), 5.50%, due 2/1/16 Aaa AAA 1,092
1,085 Tyler Hlth. Fac. Dev. Corp. Hosp. Rev. (Mother Frances
Hosp. Reg. Hlth. Care Ctr. Proj.), Ser. 2003, 5.25%,
due 7/1/13 Baa1 1,101
2,950 Univ. of Texas Board of Regents Fin. Sys. Rev., Ser.
1999 B, 5.38%, due 8/15/18 Aaa AAA 3,087
---------
67,870
---------
See Notes to Schedule of Investments 7
NEUBERGER BERMAN JULY 31, 2006 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
VIRGIN ISLANDS (0.9%)
1,000 Virgin Islands Pub. Fin. Au. Refinery Fac. Rev.
(HOVENSA Refinery), Ser. 2003, 6.13%, due 7/1/22 Baa3 BBB 1,088
1,500 Virgin Islands Pub. Fin. Au. Refinery Fac. Rev.
(HOVENSA Refinery), Ser. 2004, 5.88%, due 7/1/22 Baa3 BBB 1,614(B)
----------
2,702
----------
VIRGINIA (1.5%)
1,000 Hopewell Ind. Dev. Au. Env. Imp. Ref. Rev.
(Smurfit-Stone Container Enterprise, Inc. Proj.), Ser.
2005, 5.25%, due 6/1/15 CCC+ 967(B)
2,620 Peninsula Ports Au. Res. Care Fac. Ref. Rev. (VA
Baptist Homes), Ser. 2006 C, 5.25%, due 12/1/21 2,644(^^)(B)
1,000 Virginia Beach Dev. Au. Residential Care Fac. Mtge.
Ref. Rev. (Westminster-Caterbury of Hampton Roads,
Inc.), Ser. 2005, 5.00%, due 11/1/22 990(^^)(B)
----------
4,601
----------
WASHINGTON (12.8%)
3,000 CDP-King Co. III Lease Rev. (King Street Ctr. Proj.),
Ser. 1997, (MBIA Insured), 5.13%, due 6/1/17 Aaa AAA 3,063
1,000 Clark Co. Vancouver Sch. Dist. Number 37 G.O., Ser.
1998, 5.13%, due 12/1/12 Aa3 1,061
8,800 Energy Northwest Elec. Ref. Rev. (Proj. No. 3), Ser.
2001 A, (FSA Insured), 5.50%, due 7/1/17 Aaa AAA 9,415
5,000 King & Snohomish Cos. Northshore Sch. Dist. Number 417
G.O., Ser. 2002, (FSA Insured), 5.50%, due 12/1/17 Aaa AAA 5,432
4,260 King Co. Pub. Trans. Sales Tax Ref. G.O., Ser. 2002,
(FSA Insured), 5.38%, due 12/1/14 Aaa AAA 4,572
6,250 Port of Seattle Sub Lien Rev., Ser. 2002 B, (FGIC
Insured), 5.50%, due 9/1/16 Aaa AAA 6,620
1,625 Skagit Co. Pub. Hosp. Dist. Ref. Rev., Ser. 2003,
6.00%, due 12/1/18 Baa2 1,738
2,500 Tacoma Wtr. Sys. Rev., Ser. 2001, (FGIC Insured),
5.13%, due 12/1/19 Aaa AAA 2,608
3,125 Washington St. Hlth. Care Fac. Au. Rev. (Yakima Valley
Mem. Hosp. Assoc.), Ser. 2002, 5.00%, due 12/1/17 A 3,179(B)
1,000 Washington St. Var. Purp. G.O., Ser. 1999 A, 4.75%,
due 7/1/17 Aa1 AA 1,009
----------
38,697
----------
WISCONSIN (5.2%)
1,485 Badger Tobacco Asset Securitization Corp. Tobacco
Settlement Asset-Backed Rev., Ser. 2002, 6.13%, due
6/1/27 Baa3 BBB 1,578
1,900 Univ. of Wisconsin Hosp. & Clinics Au. Hosp. Rev.,
Ser. 2002 B, 5.50%, due 4/1/12 A1 A+ 1,999
1,370 Wisconsin Hlth. & Ed. Fac. Au. Rev. (Aurora Med.
Group, Inc. Proj.), Ser. 1996, (FSA Insured), 6.00%,
due 11/15/11 Aaa AAA 1,496(B)
7,205 Wisconsin St. G.O., Ser. 2002 C, 5.25%, due 5/1/17 P/R
5/1/12 Aaa AAA 7,670
2,780 Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Kenosha Hosp.
& Med. Ctr., Inc. Proj.), Ser. 1999, 5.50%, due
5/15/15 A 2,893(B)
----------
15,636
----------
See Notes to Schedule of Investments 8
NEUBERGER BERMAN JULY 31, 2006 (UNAUDITED)
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
WYOMING (1.6%)
4,895 Wyoming Community Dev. Au. Hsg. Rev., Ser. 2006 6,
5.00%, due 12/1/21 Aa1 AA+ 4,944
----------
OTHER (0.7%)
2,000 MuniMae Subordinated Cumulative Perpetual Preferred
Shares, 4.70%, due 6/30/49 Putable 9/30/09 Baa2 1,985(n)
----------
TOTAL INVESTMENTS (158.1%) (COST $467,960) 476,744(##)
Cash, receivables and other assets, less liabilities (1.4%) 4,157
Liquidation Value of Auction Market Preferred Shares [(59.5%)] (179,400)
----------
TOTAL NET ASSETS APPLICABLE TO COMMON SHAREHOLDERS (100.0%) $301,501
----------
See Notes to Schedule of Investments 9
NEUBERGER BERMAN JULY 31, 2006 (UNAUDITED)
NOTES TO SCHEDULE OF INVESTMENTS
--------------------------------
(+) Investments in securities by Neuberger Berman California Intermediate
Municipal Fund Inc. ("California"), Neuberger Berman Intermediate
Municipal Fund Inc. ("Intermediate"), and Neuberger Berman New York
Intermediate Municipal Fund Inc. ("New York") (each a "Fund", and
collectively, the "Funds") are valued daily by obtaining bid price
quotations from independent pricing services on all securities available
in each service's data base. For all other securities, bid prices are
obtained from principal market makers in those securities or, if
quotations are not readily available, by methods each Fund's Board of
Directors has approved on the belief that they reflect fair value.
Numerous factors may be considered when determining the fair value of a
security, including available analyst, media or other reports, trading in
futures or ADRs and whether the issuer of the security being fair valued
has other securities outstanding. Short-term debt securities with less
than 60 days until maturity may be valued at cost which, when combined
with interest earned, approximates market value.
(##) At July 31, 2006, selected Fund information on a U.S. federal income tax
basis was as follows:
GROSS GROSS
(000'S OMITTED) UNREALIZED UNREALIZE NET UNREALIZED
NEUBERGER BERMAN COST APPRECIATION DEPRECIATION APPRECIATION
CALIFORNIA $153,847 $3,144 $159 $2,985
INTERMEDIATE 467,960 9,646 862 8,784
NEW YORK 125,692 2,044 418 1,626
(@) At time of investment, municipal securities purchased by each Fund are
within the four highest rating categories (with respect to at least 80%
of total assets) assigned by a nationally recognized statistical rating
organization ("NRSRO") such as Moody's Investors Service, Inc., Standard
& Poor's, or Fitch Investors Services, Inc. or, where not rated, are
determined by the Fund's investment manager to be of comparable quality.
Approximately 80%, 68%, and 57% of the municipal securities held by
California, Intermediate, and New York, respectively, have credit
enhancement features backing them, which the Funds may rely on, such as
letters of credit, insurance, or guarantees. Without these credit
enhancement features the securities may or may not meet the quality
standards of the Funds. Pre-refunded bonds are supported by securities in
escrow issued or guaranteed by the U.S. Government, its agencies, or
instrumentalities. The amount escrowed is sufficient to pay the periodic
interest due and the principal of these bonds. Putable bonds give the
Funds the right to sell back the issue on the date specified.
(B) Security is guaranteed by the corporate or non-profit obligor.
(n) Restricted security subject to restrictions on resale under federal
securities laws. These securities may be resold in transactions exempt
from registration, normally to qualified institutional buyers under Rule
144A, and have been deemed by the investment manager to be liquid. At
July 31, 2006, these securities amounted to $4,474,000 or 1.5% of net
assets applicable to common shareholders for Intermediate.
(^^) Not rated by a NRSRO.
(u) Floating rate securities are securities whose yields vary with a
designated market index or market rate. These securities are shown at
their current rates as of July 31, 2006.
For more information on the Funds' significant accounting policies, please
refer to the Funds' most recent semi-annual financial statements.
ITEM 2. CONTROLS AND PROCEDURES.
(a) Based on an evaluation of the disclosure controls and procedures (as
defined in rule 30a-3(c) under the Investment Company Act of 1940, as
amended (the "Act")) as of a date within 90 days of the filing date of
this document, the Chief Executive Officer and Treasurer and Principal
Financial and Accounting Officer of the Registrant have concluded that
such disclosure controls and procedures are effectively designed to
ensure that information required to be disclosed by the Registrant on
Form N-CSR and Form N-Q is accumulated and communicated to the
Registrant's management to allow timely decisions regarding required
disclosure.
(b) There were no significant changes in the Registrant's internal controls
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
The certifications required by Rule 30a-2(a) of the 1940 Act are filed herewith.
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.
Neuberger Berman Intermediate Municipal Fund Inc.
By: /s/ Peter E. Sundman
------------------------
Peter E. Sundman
Chief Executive Officer
Date: September 25, 2006
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/ Peter E. Sundman
------------------------
Peter E. Sundman
Chief Executive Officer
Date: September 25, 2006
By: /s/ John M. McGovern
-----------------------------------
John M. McGovern
Treasurer and Principal Financial
and Accounting Officer
Date: September 25, 2006