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: 811-21169
NEUBERGER BERMAN NEW YORK 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 New York 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. {section} 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
NEUBERGER BERMAN JULY 31, 2006 (UNAUDITED)
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc.
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PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
ARIZONA (0.7%)
500 Verrado Comm. Fac. Dist. Number 1
G.O., Ser. 2003, 6.15%, due 7/15/17 529(^^)
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CALIFORNIA (1.2%)
1,000 Santa Rosa Rancheria Tachi
Yokut Tribe Enterprise Rev., Ser.
2003, 6.13%, due 3/1/13 1,005(^^)
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FLORIDA (0.7%)
500 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+ 525(B)
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GEORGIA (1.3%)
1,000 De Kalb Co. Dev. Au. Ref. PCR
(General Motors Corp. Proj.), Ser.
2002, 6.00%, due 3/15/21 Caa1 B- 1,009(B)
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GUAM (0.6%)
500 Guam Govt. Waterworks Au. Wtr.
& Wastewater Sys. Rev., Ser. 2005,
5.50%, due 7/1/16 Ba2 519
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LOUISIANA (2.6%)
1,000 Morehouse Parish Ref. PCR (Int'l.
Paper Co. Proj.), Ser. 2001 A,
5.25%, due 11/15/13 Baa2 BBB 1,034(B)
1,000 Tobacco Settlement Fin. Corp.
Tobacco Settlement Asset-Backed
Rev., Ser. 2001 B, 5.50%, due
5/15/30 Baa3 BBB 1,039
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2,073
-------------
NEW YORK (142.6%)
3,000 Albany IDA Civic Fac. Rev.
(Charitable Leadership Foundation
Ctr. for Med. Science Proj.), Ser.
2002 A, 6.00%, due 7/1/19 Baa3 3,184
500 Cattaraugus Co. Ind. Dev.
Agcy. (St. Bonaventure Univ. Proj.),
Ser. 2006 A, 5.00%, due 5/1/23 BBB- 501(B)
1,000 Dutchess Co. IDA Civic Fac. Ref.
Rev. (Marist College Proj.), Ser. 2003
A, 5.15%, due 7/1/17 Baa1 1,038(B)
2,000 Dutchess Co. IDA Ind. Dev. Rev. (IBM
Proj.), Ser. 1999, 5.45%, due 12/1/29 A1 A+ 2,087(B)
500 Essex Co. Ind. Dev. Agcy. Solid
Waste Disp. Rev. (Int'l. Paper), Ser
2005 A, 5.20%, due 12/1/23 Baa3 BBB 501(B)
2,000 Long Island Pwr. Au. Elec. Sys.
Gen. Rev., Ser. 1998 A, 5.50%, due
12/1/13 Aaa AAA 2,212
1,385 Lyons Comm. Hlth. Initiatives Corp.
Fac. Rev., Ser. 2004, 5.50%, due 9/1/14 A2 1,470
2,000 Metro. Trans. Au. Ref. Rev., Ser.
2002 A, (AMBAC Insured), 5.50%, due
11/15/15 Aaa AAA 2,180
1,000 Monroe Co. IDA Civic Fac. Rev.
(Highland Hosp. Rochester), 5.00%,
due 8/1/15 Baa BBB+ 1,034(B)
980 Monroe Co. IDA Std. Hsg. Rev.
(Collegiate Hsg. Foundation -
Rochester Institute of Technology
Proj.), Ser. 1999 A, 5.25%, due
4/1/19 Baa3 992(B)
1,000 Monroe Co. Newpower Corp. Pwr. Fac.
Rev., Ser. 2003, 5.10%, due 1/1/16 BBB 1,021
1,000 Monroe Co. Pub. Imp. Ref. G.O., Ser.
1996, 6.00%, due 3/1/13 Baa1 BBB+ 1,093
800 New York City G.O., Ser.
1994 H-3, 3.64%, due 8/1/06 VMIG1 A-1+ 800(u)
1,000 New York City G.O., Ser.
1998 J, 5.00%, due 8/1/11 A1 AA- 1,028
1,000 New York City G.O., Ser.
2002 A, 5.75%, due 8/1/16 A1 AA- 1,089
750 New York City G.O., Ser.
2002 C, 5.50%, due 8/1/15 A1 A+ 807
See Notes to Schedule of Investments 1
NEUBERGER BERMAN JULY 31, 2006 (UNAUDITED)
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc. cont'd
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PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
1,410 New York City Hlth. & Hosp. Corp.
Rev., Ser. 2002 A, (FSA Insured),
5.50%, due 2/15/13 Aaa AAA 1,521
4,000 New York City Hsg. Dev. Corp.
Multi-Family Hsg. Rev., Ser. 2002
E-2, 5.05%, due 11/1/23 Aa2 AA 4,066
1,030 New York City IDA Civic Fac. Rev.
(Lycee Francais de New York Proj.),
Ser. 2002 A, 5.50%, due 6/1/17 A 1,067(B)
1,000 New York City IDA Civic Fac. Rev.
(Lycee Francaise de New York Proj.),
Ser. 2002 A, 5.50%, due 6/1/15 A 1,042(B)
2,920 New York City IDA Civic
Fac. Rev. (Packer Collegiate
Institute Proj.), Ser. 2002, (AMBAC
Insured), 5.00%, due 6/1/22 Aaa AAA 3,017(B)
1,000 New York City IDA Ind. Dev. Rev.
(Brooklyn Navy Yard
Cogeneration Partners, L.P. Proj.),
Ser. 1997, 6.20%, due 10/1/22 Ba1 BBB- 1,056(B)
500 New York City IDA Ind. Dev.
Rev. (Harlem Auto Mall Proj.), Ser.
2004, 5.13%, due 12/30/23 Caa1 B- 447(B)
750 New York City IDA Liberty
Rev. (7 World Trade Center, LLC
Proj.), Ser. 2005 A, 6.25%, due
3/1/15 798(^^)
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 837(B)
2,000 New York City IDA Spec.
Fac. Rev. (Term. One Group Assoc.
Proj.), Ser. 2005, 5.50%, due 1/1/19 A3 BBB+ 2,122(B)
960 New York City Muni. Wtr.
Fin. Au. Wtr. & Swr. Sys. Rev., Ser.
1992 A, (AMBAC Insured), 5.88%, due
6/15/13 Aaa AAA 1,078
4,000 New York City Muni. Wtr.
Fin. Au. Wtr. & Swr. Sys. Rev., Ser.
2002 D, 5.25%, due 6/15/15 Aa2 AA 4,261
3,000 New York City Trans. Fin.
Au. Ref. Rev., Ser. 2002 B, 5.25%,
due 2/1/29 Aa1 AAA 3,165
2,025 New York City Trans. Fin.
Au. Ref. Rev., Ser. 2002 C, (AMBAC
Insured), 5.25%, due 8/1/17 Aaa AAA 2,161
800 New York Convention Ctr.
Operating Corp. Cert. of
Participation (Yale Bldg.
Acquisition Proj.), Ser. 2003,
5.25%, due 6/1/08 Aa1 817
2,000 New York St. Dorm. Au. Court Fac.
Lease Rev. (New York City
Issue), Ser. 2003 A, 5.50%, due
5/15/17 A1 A+ 2,191
2,000 New York St. Dorm. Au. Insured Rev.
(Long Island Jewish Med. Ctr.),
Ser. 1998, (MBIA Insured), 5.00%,
due 7/1/18 Aaa AAA 2,047(B)
1,675 New York St. Dorm. Au. Insured Rev.
(Long Island Univ.), Ser. 2003 A, 5.25%,
due 9/1/15 Baa3 AA 1,744(B)
1,600 New York St. Dorm. Au. Insured Rev.
(The Culinary Institute of America),
Ser. 1999, (MBIA Insured), 5.38%,
due 7/1/15 Aaa AAA 1,693(B)
3,000 New York St. Dorm. Au. Ref. Rev.
(North Gen. Hosp. Proj.), Ser. 2003,
5.75%, due 2/15/17 Aa3 AA- 3,261(B)
1,125 New York St. Dorm. Au. Rev.
(City Univ. Sys. Proj.), Ser. 1995 A,
5.63%, due 7/1/16 A1 AA- 1,246
1,010 New York St. Dorm. Au. Rev.
(Columbia Univ. Proj.), Ser. 2001 A,
5.25%, due 7/1/16 Aaa AAA 1,086(B)
2,985 New York St. Dorm. Au. Rev. (Lenox
Hill Hosp. Oblig. Group Proj.), Ser.
2001, 5.75%, due 7/1/14 Ba2 3,085(B)
2,000 New York St. Dorm. Au. Rev. (Lenox
Hill Hosp. Oblig. Group Proj.), Ser.
2001, 5.75%, due 7/1/16 Ba2 2,064(B)
2,000 New York St. Dorm. Au. Rev.
(Mount Sinai NYU Hlth.), Ser.
2000 C, 5.50%, due 7/1/26 Ba1 BB 2,028(B)
1,980 New York St. Dorm. Au. Rev.
(New York Med. College Proj.), Ser.
1998, (MBIA Insured), 5.00%, due 7/1/21 Aaa AAA 2,032(B)
See Notes to Schedule of Investments 2
NEUBERGER BERMAN JULY 31, 2006 (UNAUDITED)
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc. cont'd
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PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
525 New York St. Dorm. Au. Rev.
(New York Methodist Hosp.), Ser. 2004,
5.25%, due 7/1/18 A3 549
500 New York St. Dorm. Au. Rev.
(North Shore-Long Island Jewish Oblig.
Group), Ser. 2003, 5.00%, due 5/1/18 A3 512(B)
2,855 New York St. Dorm. Au. Rev.
(Rivington House Hlth. Care Fac.),
Ser. 2002, 5.25%, due 11/1/15 Aa1 3,006(B)
2,410 New York St. Dorm. Au. Rev.
(Rochester Institute of Technology
Proj.), Ser. 2002 A, (AMBAC Insured),
5.25%, due 7/1/19 Aaa 2,553(B)
3,000 New York St. Dorm. Au. Rev. (SS
Joachim & Anne Residence Proj.),
Ser. 2002, 4.60%, due 7/1/16 Aa3 2,976
250 New York St. Dorm. Au. Rev. Secured
Hosp. Ref. Rev. (Brookdale Hosp.
Med. Ctr.), Ser. 1998 J, 5.20%, due
2/15/16 A2 AA- 257(B)
5,500 New York St. Dorm. Au. Rev. St.
Personal Income Tax Rev., Ser. 2003
A, 5.38%, due 3/15/17 A1 AA 5,992
5,000 New York St. Energy Res. & Dev. Au.
Fac. Rev. (Consolidated Edison Co.
of New York, Inc. Proj.), Ser. 2001
A, 4.70%, due 6/1/36 A1 A+ 5,003(B)
1,000 New York St. Env. Fac. Corp. Solid
Waste Disp. Rev. (Waste Management,
Inc. Proj.), Ser. 2004 A, 4.45%, due
7/1/17 Putable 7/1/09 BBB 1,005
2,000 New York St. Mtge. Agcy.
Homeowner Mtge. Rev., Ser. 1997-67,
5.70%, due 10/1/17 Aa1 2,048
2,000 New York St. Pwr. Au. Rev., Ser.
2002 A, 5.25%, due 11/15/16 Aa2 AA- 2,138
500 New York St. Urban Dev. Corp.
Correctional & Youth Fac. Svc. Rev.,
Ser. 2002 C, 4.00%, due 1/1/20 A2 AA- 501
1,325 New York St. Urban Dev.
Corp. Proj. Ref. Rev. (Ctr. for Ind.
Innovation), Ser. 1995, 6.25%, due
1/1/09 A2 AA- 1,395
2,000 Niagara Co. IDA Civic Fac. Rev.
(Niagara Univ. Proj.), Ser. 2001 A,
5.50%, due 11/1/16 AA 2,108(B)
2,500 Niagara Co. IDA Solid Waste Disp.
Fac. Ref. Rev. (American Ref.-Fuel
Co. of Niagara), Ser. 2001 C, 5.63%,
due 11/15/24 Baa3 BB+ 2,629(B)
3,000 Port Authority of NY & NJ Rev., Ser.
2002, (AMBAC Insured), 5.50%, due
12/15/12 Aaa AAA 3,238
3,000 Triborough Bridge & Tunnel Au. Gen
Purp. Ref. Rev., Ser. 2002 B, 5.25%,
due 11/15/18 Aa2 AA- 3,198
1,535 Ulster Co. Res. Rec. Agcy. Solid
Waste Sys. Ref. Rev., Ser. 2002,
(AMBAC Insured), 5.25%, due 3/1/16 Aaa AAA 1,639
500 United Nations Dev. Corp. Sr. Lien.
Ref. Rev., Ser. 2004 A, 5.25%, due
7/1/17 A3 510
1,000 Westchester Co. IDA Continuing Care
Retirement Comm. Rev. (Kendal on
Hudson Proj.), Ser. 2003 B, 5.70%,
due 1/1/34 1,019(B)(^^)
1,000 Yonkers IDA Civic Fac. Rev.
(Comm. Dev. Properties-Yonkers,
Inc.), Ser. 2001 A, 6.25%, due 2/1/16 Baa3 BBB- 1,078(B)
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114,323
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OHIO (0.6%)
500 Coshocton Co. Env. Imp. Ref. Rev.
(Smurfit-Stone Container Enterprises,
Inc. Proj.), Ser. 2005, 5.13%, due 8/1/13 CCC+ 485(B)
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See Notes to Schedule of Investments 3
NEUBERGER BERMAN JULY 31, 2006 (UNAUDITED)
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc. cont'd
------------------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY(@) RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
PENNSYLVANIA (2.1%)
1,590 Cumberland Co. West Shore Area Au.
Hosp. Rev. (Holy Spirit Hosp. of the
Sisters of Christian Charity Proj.),
Ser. 2001, 5.90%, due 1/1/17 BBB+ 1,676(B)
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PUERTO RICO (2.5%)
900 Puerto Rico Children's Trust
Tobacco Settlement Asset-Backed
Rev., Ser. 2002, 5.38%, due 5/15/33 Baa3 BBB 920
1,060 Puerto Rico Ind. Tourist Ed. Med. &
Env. Ctrl. Fac. Rev. (Polytechnic
Univ. of Puerto Rico Proj.), Ser.
2002 A, (ACA Insured), 5.25%, due
8/1/16 BBB- 1,093(B)
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2,013
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TEXAS (2.6%)
800 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- 895(B)
750 Brazos River Au. Ref. Rev. (Reliant
Energy, Inc. Proj.), Ser. 1999 B, 7.75%,
due 12/1/18 BBB- 805(B)
400 Dallas-Fort Worth Int'l. Arpt. Fac.
Imp. Corp. Rev., Ser. 2004 A-1,
6.15%, due 1/1/16 Ba2 406(B)
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2,106
-------------
VIRGIN ISLANDS (1.3%)
250 Virgin Islands Pub. Fin. Au.
Refinery Fac. Rev. (HOVENSA
Refinery), Ser. 2003, 6.13%, due
7/1/22 Baa3 BBB 272
750 Virgin Islands Pub. Fin. Au.
Rev. (Virgin Islands Matching
Fund Loan Notes), Ser. 1998 E,
6.00%, due 10/1/22 BBB 783
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1,055
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TOTAL INVESTMENTS (158.8%) (COST $125,692) 127,318(##)
Cash, receivables and other assets, less liabilities (1.4%) 1,088
Liquidation Value of Auction Market Preferred Shares [(60.2%)] (48,250)
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TOTAL NET ASSETS APPLICABLE TO COMMON SHAREHOLDERS (100.0%) $80,156
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See Notes to Schedule of Investments 4
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 New York 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