As filed with the Securities and Exchange Commission on September 29, 2008
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.
K&L Gates 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, 2008
Date of reporting period: July 31, 2008
Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (ss. 239.24 and 274.5 of
this chapter), 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.
JULY 31, 2008
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc.
--------------------------------------------------------
(UNAUDITED)
PRINCIPAL AMOUNT SECURITY(@) VALUE(+)
($000's omitted) ($000's omitted)
ALABAMA (1.5%)
4,210 DCH Hlth. Care Au. Hlth. Care Fac. Rev., Ser. 2002, 5.25%, due 6/1/14 4,405
ARIZONA (3.8%)
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 1,539
2,000 Arizona St. Trans. Board Hwy. Rev., Ser. 2008 A, 5.00%, due 7/1/26 2,071
2,265 Arizona Wtr. Infrastructure Fin. Au. Rev. (Wtr. Quality), Ser.
2008 A, 5.00%, due 10/1/22 2,398
1,255 Salt Verde Fin. Corp. Sr. Gas Rev., Ser. 2007, 5.25%, due 12/1/20 1,207
1,750 Verrado Comm. Fac. Dist. Number 1 G.O., Ser. 2003, 6.15%, due 7/15/17 1,772
2,325 Verrado Comm. Fac. Dist. Number 1 G.O., Ser. 2006, 5.05%, due 7/15/18 2,103
------
11,090
CALIFORNIA (7.9%)
3,500 California Poll. Ctrl. Fin. Au. Solid Waste Disp. Rev. (Republic
Svcs., Inc. Proj.), Ser. 2002 B, 5.25%, due 6/1/23 Putable 12/1/17 3,319(u)(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 1,681(B)
2,500 California St. Dept. of Wtr. Res. Pwr. Supply Rev., Ser. 2002 A,
5.75%, due 5/1/17 Pre-Refunded 5/1/12 2,786
3,460 California St. Dept. of Wtr. Res. Pwr. Supply Rev., Ser. 2002 A,
5.38%, due 5/1/22 Pre-Refunded 5/1/12 3,811
1,500 California St. Pub. Works Board Lease Rev., Ser. 2002 A, (AMBAC
Insured), 5.25%, due 12/1/17 1,589
1,240 California Statewide CDA Hlth. Fac. Rev. (Mem. Hlth. Svcs.), Ser.
2003 A, 6.00%, due 10/1/16 1,320(B)
1,270 California Statewide CDA Rev. (California Baptist Univ.), Ser.
2007 A, 5.30%, due 11/1/18 1,221(B)(OO)
2,800 Golden St. Tobacco Securitization Corp. Tobacco Settlement
Asset-Backed Rev., Ser. 2003 A1, 6.25%, due 6/1/33 3,038
2,080 Oakland Redev. Agcy. Sub. Tax Allocation Rev. (Central Dist.
Redev. Proj.), Ser. 2003, (FGIC Insured), 5.50%, due 9/1/18 2,166
740 San Diego Redev. Agcy. Sub. Parking Rev. (Centre City Redev.
Proj.), Ser. 2003 B, 5.00%, due 9/1/17 745
1,500 Santa Rosa Rancheria Tachi Yokut Tribe Enterprise Rev., Ser.
2006, 4.88%, due 3/1/16 1,468
------
23,144
COLORADO (5.6%)
4,220 Colorado Springs Util. Sys. Sub. Lien Ref. Rev., Ser. 2002 A,
(AMBAC Insured), 5.38%, due 11/15/18 4,535
1,785 Denver City & Co. Arpt. Sys. Ref. Rev., Ser. 1991 D, (XLCA
Insured), 7.75%, due 11/15/13 1,926
4,000 Denver City & Co. Arpt. Sys. Ref. Rev., Ser. 2002 E, (FGIC
Insured), 5.25%, due 11/15/14 4,041
1,000 Pub. Au. for Colorado Energy Natural Gas Purchase Rev., Ser.
2008, (LOC: Merrill Lynch Capital Markets), 6.13%, due 11/15/23 982
4,610 Thornton Cert. of Participation, Ser. 2002, (AMBAC Insured),
5.38%, due 12/1/16 Pre-Refunded 12/1/12 5,054
------
16,538
CONNECTICUT (0.8%)
2,400 Mashantucket Western Pequot Tribe Spec. Rev., Sub. Ser. 1997 B,
5.70%, due 9/1/12 2,413(n)
DISTRICT OF COLUMBIA (2.0%)
4,495 Dist. of Columbia (Washington, D.C.) Ref. G.O., Ser. 2002 C,
(XLCA Insured), 5.25%, due 6/1/13 4,789
See Notes to Schedule of Investments
JULY 31, 2008
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
(UNAUDITED)
PRINCIPAL AMOUNT SECURITY(@) VALUE(+)
($000's omitted) ($000's omitted)
1,000 Metro. Washington Dist. of Columbia Arpt. Au. Sys., Ser. 2008 A,
5.50%, due 10/1/18 1,036
------
5,825
FLORIDA (7.8%)
2,335 Fiddlers Creek Comm. Dev. Dist. Number 2 Spec. Assessment Rev.,
Ser. 2003 A, 6.00%, due 5/1/16 2,151
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 1,784(B)
8,140 Orange Co. Sales Tax Ref. Rev., Ser. 2002 A, (FGIC Insured),
5.13%, due 1/1/18 8,436
2,085 Palm Beach Co. Hlth. Fac. Au. Hosp. Ref. Rev. (BRCH Corp. Oblig.
Group), Ser. 2001, 5.00%, due 12/1/12 2,119(B)
7,000 Palm Beach Co. Sch. Board Cert. of Participation, Ser. 2001 B,
(AMBAC Insured), 5.38%, due 8/1/17 7,323
1,000 Sarasota Co. Util. Sys. Ref. Rev., Ser. 2002 C, (FGIC Insured),
5.25%, due 10/1/20 1,032
------
22,845
GEORGIA (2.9%)
4,575 Henry Co. Wtr. & Swr. Au. Wtr. & Swr. Ref. Rev., Ser. 2002 A,
(MBIA Insured), 5.13%, due 2/1/17 4,889
1,000 Main Street Natural Gas, Inc. Gas Proj. Rev., Ser. 2007 B, 5.00%,
due 3/15/14 949
2,710 Newnan Hosp. Au. Rev. Anticipation Cert. (Newnan Hosp., Inc.
Proj.), Ser. 2002, (MBIA Insured), 5.50%, due 1/1/18 2,841(B)
------
8,679
ILLINOIS (12.7%)
3,000 Bartlett Tax Increment Ref. Rev. (Quarry Redev. Proj.), Ser.
2007, 5.35%, due 1/1/17 2,882
5,940 Chicago G.O., Ser. 2002 A, (AMBAC Insured), 5.38%, due 1/1/17
Pre-Refunded 7/1/12 6,461
180 Chicago G.O. (Unrefunded Bal.), Ser. 2002 A, (AMBAC Insured),
5.38%, due 1/1/17 193
1,500 Chicago Metro. Wtr. Reclamation Dist. Cap. Imp. G.O., Ser. 2002
C, 5.38%, due 12/1/16 Pre-Refunded 12/1/12 1,648(OO)
1,970 Cook County Township High Sch. Dist. Number 225 Northfield
Township, Ser. 2008, 5.00%, due 12/1/25 2,036
5,130 Illinois Ed. Fac. Au. Rev. (Field Museum of Natural History),
Ser. 2002, 4.30%, due 11/1/36 Putable 11/1/13 5,256(u)(B)
4,000 Illinois Fin. Au. Rev. (Clare Oaks Proj.), Ser. 2006 A, 5.75%,
due 11/15/16 3,985(B)
5,000 Illinois G.O., Ser. 2002, (MBIA Insured), 5.25%, due 10/1/14 5,363
3,000 Illinois Hlth. Fac. Au. Rev. (Loyola Univ. Hlth. Sys.)
(Unrefunded Bal.), Ser. 1997 A, (MBIA Insured), 6.00%, due 7/1/14 3,400(B)
1,670 Illinois Metro. Pier & Exposition Au. Dedicated St. Tax Ref.
Rev., Ser. 1998 A, (FGIC Insured), 5.50%, due 6/15/17 1,857
2,000 Kane, Cooke, & DuPage Cos. Elgin Sch. Dist. Number U-46 G.O.,
Ser. 1998, (FSA Insured), 5.35%, due 1/1/15 2,104
2,250 Southwestern Illinois Local Gov't Dev. Au. Rev., (Collinsville
Ltd.), Ser. 2007, 5.00%, due 3/1/25 2,022
------
37,207
INDIANA (9.8%)
1,995 Indiana Bond Bank Rev. (St. Revolving Fund Prog.), Ser. 2001 A,
5.38%, due 2/1/17 Pre-Refunded 2/1/13 2,204
760 Indiana Bond Bank Rev. (St. Revolving Fund Prog.), Ser. 2001 B,
5.25%, due 2/1/18 Pre-Refunded 2/1/13 829
8,005 Indiana Bond Bank Rev. (Unrefunded Bal. Revolving Fund Prog.),
Ser. 2001 A, 5.38%, due 2/1/17 8,523
2,800 Indiana Bond Bank Rev. (Unrefunded Bal. Revolving Fund Prog.),
Ser. 2002 B, 5.25%, due 2/1/18 2,962
4,000 Indiana Hlth. & Ed. Fac. Fin. Au. Hosp. Ref. Rev. (Clarian Hlth.
Oblig. Group), Ser. 2006 B, 5.00%, due 2/15/21 3,960(B)
See Notes to Schedule of Investments
JULY 31, 2008
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
(UNAUDITED)
PRINCIPAL AMOUNT SECURITY(@) VALUE(+)
($000's omitted) ($000's omitted)
1,000 Indiana Muni. Pwr. Agcy. Pwr. Supply Sys. Rev., Ser. 2002 B,
(MBIA Insured), 5.25%, due 1/1/18 1,049
2,050 Indiana St. Hlth. Fac. Fin. Au. Rev. (Hlth. Sys. Sisters of St.
Francis), Ser. 2001, 5.35%, due 11/1/15 2,137(B)
1,065 Indiana St. Recreational Dev. Comm. Rev., Ser. 2002, (AMBAC
Insured), 5.25%, due 7/1/18 1,111
1,125 Indiana St. Recreational Dev. Comm. Rev., Ser. 2002, (AMBAC
Insured), 5.25%, due 7/1/19 1,168
2,580 Indianapolis Local Pub. Imp. Rev. (Indianapolis Arpt. Au. Proj.),
Ser. 2003 A, (FSA Insured), 5.63%, due 1/1/17 2,651
2,000 Jasper Hosp. Au. Hosp. Fac. Ref. Rev. (Mem. Hosp. & Hlth. Care
Ctr. Proj.), Ser. 2002, (Radian Insured), 5.50%, due 11/1/17 2,074(B)
------
28,668
IOWA (2.6%)
1,000 Coralville Urban Renewal Rev., Tax Increment, Ser. 2007 C, 5.00%,
due 6/1/15 1,033
3,000 Iowa Tobacco Settlement Au. Tobacco Settlement Asset-Backed Rev.,
Ser. 2001 B, 5.30%, due 6/1/25 Pre-Refunded 6/1/11 3,179
3,000 Iowa Tobacco Settlement Au. Tobacco Settlement Asset-Backed Rev.,
Ser. 2005 C, 5.38%, due 6/1/38 2,393
1,005 Kirkwood Comm. College Iowa New Jobs Training Cert. (Merged Area
X), Ser. 2007 1B, 5.00%, due 6/1/17 1,026
------
7,631
LOUISIANA (1.1%)
2,500 Morehouse Parish Ref. PCR (Int'l Paper Co. Proj.), Ser. 2001 A,
5.25%, due 11/15/13 2,453(B)
1,000 Tobacco Settlement Fin. Corp. Tobacco Settlement Asset-Backed
Rev., Ser. 2001 B, 5.50%, due 5/15/30 903
------
3,356
MARYLAND (0.4%)
1,000 Maryland St. Hlth. & Higher Ed. Fac. Au. Rev. (Union Hosp. of
Cecil Co.), Ser. 2002, 5.50%, due 7/1/14 1,042(B)
MASSACHUSETTS (8.6%)
3,000 Massachusetts Port Au. Spec. Fac. Rev. (Delta Air Lines, Inc.
Proj.), Ser. 2001 A, (AMBAC Insured), 5.50%, due 1/1/19 2,688(B)
1,850 Massachusetts St. G.O., Ser. 2002 E, (MBIA Insured), 5.38%, due
1/1/18 Pre-Refunded 1/1/13 2,012(OO)
2,450 Massachusetts St. Hlth. & Ed. Fac. Au. Rev. (Caritas Christi
Oblig. Group), Ser. 1999 A, 5.70%, due 7/1/15 2,481(B)
2,420 Massachusetts St. Hlth. & Ed. Fac. Au. Rev. (Milford-Whitinsville
Reg. Hosp.), Ser. 1998 C, 5.75%, due 7/15/13 2,455(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
Pre-Refunded 5/15/12 5,339(B)
2,775 Massachusetts St. Wtr. Poll. Abatement Trust (Unrefunded Bal.
Rev. Pool Prog.), Ser. 2001, 5.25%, due 2/1/16 2,925
5,030 Massachusetts St. Wtr. Poll. Abatement Trust Rev. (MWRA Prog.),
Ser. 2002 A, 5.25%, due 8/1/19 5,340
2,000 Massachusetts St. Wtr. Poll. Abatement Trust. Rev. (Pool Prog.),
Ser. 2001, 5.25%, due 2/1/16 Pre-Refunded 8/1/11 2,142
------
25,382
MICHIGAN (4.9%)
3,075 Detroit Sch. Dist. Sch. Bldg. & Site Imp. G.O., Ser. 2002 A,
(FGIC Insured), 5.50%, due 5/1/15 Pre-Refunded 5/1/13 3,395
1,070 Ingham & Clinton Cos. East Lansing Bldg. Au. Ref. G.O., Ser.
1999, 5.25%, due 10/1/16 1,090
1,375 Macomb Co. New Haven Comm. Sch. Bldg. & Site G.O., Ser. 2002,
5.25%, due 5/1/17 Pre-Refunded 11/1/12 1,499
1,500 Michigan St. Bldg. Au. Rev. (Fac. Prog.), Ser. 2001 II, 5.50%,
due 10/15/18 Pre-Refunded 10/15/11 1,620
See Notes to Schedule of Investments
JULY 31, 2008
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
(UNAUDITED)
PRINCIPAL AMOUNT SECURITY(@) VALUE(+)
($000's omitted) ($000's omitted)
3,850 Royal Oak Hosp. Fin. Au. Hosp. Ref. Rev. (William Beaumont
Hosp.), Ser. 1996, 6.25%, due 1/1/12 4,119(B)
2,000 Summit Academy North Pub. Sch. Academy Ref. Rev., Ser. 2005,
5.25%, due 11/1/20 1,827
975 Summit Academy Pub. Sch. Academy Ref. Rev., Ser. 2005, 6.00%, due
11/1/15 978
------
14,528
MINNESOTA (2.3%)
2,000 Freeborn Co. Hsg. & Redev. Au. Lease Rev. (Criminal Justice Ctr.
Proj.), Ser. 2002, 5.38%, due 2/1/17 2,067
2,000 Maple Grove Hlth. Care Sys. Rev. (Maple Grove Hosp. Corp.), Ser.
2007, 5.00%, due 5/1/17 2,045(B)
2,540 St. Paul Port Au. Lease Rev. (Office Bldg. at Cedar Street), Ser.
2002, 5.00%, due 12/1/17 2,650
------
6,762
MISSISSIPPI (0.5%)
1,500 Mississippi Dev. Bank Spec. Oblig. (Wilkinson Co. Correctional),
Ser. 2008 D, 5.00%, due 8/1/15 1,572
MISSOURI (4.9%)
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 3,718
2,000 Boone Co. Hosp. Ref. Rev. (Boone Hosp. Ctr.), Ser. 2002, 5.05%,
due 8/1/20 2,013(B)
2,425 Branson Dev. Fin. Board Infrastructure Fac. Board Rev., Ser. 2003
A, 5.00%, due 12/1/17 2,393
725 Branson Ind. Dev. Au. Ltd. Oblig. Tax Increment Rev. (Branson
Landing-Retail Proj.), Ser. 2005, 5.25%, due 6/1/21 649
2,965 Missouri St Univ. Auxiliary Enterprise Sys. Rev., Ser. 2007 A,
(XLCA Insured), 5.00%, due 4/1/26 2,880
2,000 Missouri St. Env. Imp. & Energy Res. Au. Wtr. Poll. Ctrl. &
Drinking Wtr. Rev., Ser. 2002 B, 5.50%, due 7/1/16 2,166
435 Missouri St. Hsg. Dev. Comm. Multi-Family Hsg. Rev., Ser. 2001
II, (FHA Insured), 5.25%, due 12/1/16 442(a)
110 Missouri St. Hsg. Dev. Comm. Multi-Family Hsg. Rev., Ser. 2001
III, (FHA Insured), 5.05%, due 12/1/15 112
------
14,373
NEBRASKA (0.6%)
1,725 Central Plains Energy Proj. Rev. (Nebraska Gas Proj. Number 1),
Ser. 2007 A, 5.00%, due 12/1/14 1,718
NEVADA (4.3%)
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 5,488
4,355 Las Vegas Valley Wtr. Dist. Ref. & Wtr. Imp. G.O., Ser. 2003 A,
(FGIC Insured), 5.25%, due 6/1/16 4,658
2,295 Truckee Meadows Wtr. Au. Wtr. Rev., Ser. 2001 A, (FSA Insured),
5.50%, due 7/1/15 2,447
------
12,593
NEW HAMPSHIRE (1.8%)
3,310 New Hampshire Hlth. Ed. Fac. Au. Rev. (Univ. Sys. of New
Hampshire), Ser. 2001, (AMBAC Insured), 5.38%, due 7/1/17
Pre-Refunded 7/1/11 3,590
1,700 New Hampshire Hlth. Ed. Fac. Au. Rev. (Univ. Sys. of New
Hampshire) (Unrefunded Bal.), Ser. 2001, (AMBAC Insured), 5.38%,
due 7/1/17 1,805
------
5,395
NEW JERSEY (6.4%)
5,000 New Jersey Bldg. Au. St. Bldg. Ref. Rev., Ser. 2002 B, (FSA
Insured), 5.25%, due 12/15/15 5,344
1,500 New Jersey Econ. Dev. Au. Cigarette Tax Rev., Ser. 2004, 5.63%,
due 6/15/19 1,484
700 New Jersey Econ. Dev. Au. Retirement Comm. Rev. Ref. (Seabrook
Village, Inc. Fac.), Ser. 2006, 5.25%, due 11/15/26 606(B)
See Notes to Schedule of Investments
JULY 31, 2008
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
(UNAUDITED)
PRINCIPAL AMOUNT SECURITY(@) VALUE(+)
($000's omitted) ($000's omitted)
6,900 New Jersey Ed. Fac. Au. Rev. (Stevens Institute of Technology),
Ser. 2002 C, 5.25%, due 7/1/17 Pre-Refunded 7/1/13 7,547(B)
4,000 New Jersey Hlth. Care Fac. Fin. Au. Rev. (Somerset Med. Ctr.
Issue), Ser. 2003, 5.50%, due 7/1/18 3,864(B)
------
18,845
NEW YORK (4.7%)
990 Lyons Comm. Hlth. Initiatives Corp. Fac. Rev., Ser. 2004, 5.50%,
due 9/1/14 1,073
3,250 New York City G.O., Ser. 2002 C, 5.50%, due 8/1/15 3,514
2,580 New York City IDA Civic Fac. Rev. (Lycee Francais de New York
Proj.), Ser. 2002 A, (ACA Insured), 5.50%, due 6/1/14 2,638(B)
750 New York City IDA Civic Fac. Rev. (Vaughn College of Aeronautics
and Technology), Ser. 2006 A, 5.00%, due 12/1/21 660(B)
2,750 New York City IDA Liberty Rev. (7 World Trade Ctr., LLC Proj.),
Ser. 2005 A, 6.25%, due 3/1/15 2,773
1,250 New York Liberty Dev. Corp. Rev. (Nat'l Sports Museum Proj.),
Ser. 2006 A, 6.13%, due 2/15/19 1,204
1,700 New York St. Dorm. Au. Personal Income Tax Rev., Ser. 2003 A,
5.38%, due 3/15/20 Pre-Refunded 3/15/13 1,871
------
13,733
NORTH DAKOTA (1.5%)
4,100 Fargo Hlth. Sys. Rev. (Meritcare Obligated Group), Ser. 2002 A,
(AMBAC Insured), 5.63%, due 6/1/17 4,410(B)
OHIO (1.3%)
3,760 Ohio Air Quality Dev. Au. Env. Imp. Ref. Rev. (USX Corp. Proj.),
Ser. 1995, 5.00%, due 11/1/15 Putable 11/1/11 3,834(u)(B)
PENNSYLVANIA (6.4%)
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 1,797(B)
565 Delaware River Joint Toll Bridge Comm. Sys. Rev., Ser. 2003,
5.25%, due 7/1/18 Pre-Refunded 7/1/13 619
435 Delaware River Joint Toll Bridge Comm. Sys. Rev. (Unrefunded
Bal.), Ser. 2003, 5.25%, due 7/1/18 457
2,000 Lancaster Co. Hosp. Au. Rev. (Brethren Village Proj.), Ser. 2008
A, 6.10%, due 7/1/22 1,971(B)
2,000 Lehigh Co. Gen. Purp. Au. Rev. (KidsPeace Oblig. Group), Ser.
1998, 6.00%, due 11/1/23 1,751(B)
5,000 Montgomery Co. Higher Ed. & Hlth. Au. Hosp. Rev. (Abington Mem.
Hosp. Proj.), Ser. 2002 A, 5.00%, due 6/1/19 5,017(B)
1,000 Pennsylvania Econ. Dev. Fin. Au. Res. Rec. Ref. Rev. (Colver
Proj.), Ser. 2005 G, 5.13%, due 12/1/15 961
2,000 Philadelphia Arpt. Ref. Rev. (Philadelphia Arpt. Sys.), Ser. 1998
A, (FGIC Insured), 5.38%, due 6/15/14 2,023
1,480 Sayre Hlth. Care Fac. Au. Rev., (Guthrie Hlth. Proj.), Ser. 2002
A, 5.75%, due 12/1/21 Pre-Refunded 12/1/11 1,628(B)
520 Sayre Hlth. Care Fac. Au. Rev. (Unrefunded Bal.), (Guthrie Hlth.
Proj.), Ser. 2002 A, 5.75%, due 12/1/21 537(B)
2,000 Westmoreland Co. IDA Gtd. Rev. (Nat'l Waste & Energy Corp.,
Valley Landfill Expansion Proj.), Ser. 1993, 5.10%, due 5/1/18
Putable 5/1/09 2,013(u)(B)
------
18,774
SOUTH CAROLINA (5.6%)
1,100 Charleston Co. Sch. Dist. G.O., Ser. 2001, (FSA Insured), 5.00%,
due 2/1/18 1,151
2,140 Mt. Pleasant Town Waterworks & Swr. Sys. Ref. & Imp. Rev., Ser.
2002, (FGIC Insured), 5.25%, due 12/1/17 2,282
2,345 South Carolina Jobs Econ. Dev. Au. Hosp. Ref. Rev. (Palmetto
Hlth. Alliance), Ser. 2003 A, 6.00%, due 8/1/13 2,491(B)
2,000 South Carolina Jobs Econ. Dev. Au. Hosp. Ref. Rev. (Palmetto
Hlth. Alliance), Ser. 2003 A, 6.13%, due 8/1/23 2,048(B)
4,665 South Carolina St. Pub. Svc. Au. Rev., Ser. 2002 B, (FSA
Insured), 5.38%, due 1/1/18 4,916
See Notes to Schedule of Investments
JULY 31, 2008
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
(UNAUDITED)
PRINCIPAL AMOUNT SECURITY(@) VALUE(+)
($000's omitted) ($000's omitted)
3,500 Union Co. IDR (Federal Paper Board Co., Inc. Proj.), Ser. 1989,
4.55%, due 11/1/09 3,507(B)
------
16,395
TENNESSEE (3.1%)
1,655 Knox Co. Hlth. Ed. & Hsg. Fac. Board Hosp. Fac. Rev., Ser. 2002
A, (FSA Insured), 5.50%, due 1/1/18 Pre-Refunded 1/1/13 1,816(B)
1,360 Knox Co. Hlth. Ed. & Hsg. Fac. Board Hosp. Fac. Rev. (Unrefunded
Bal.), Ser. 2002 A, (FSA Insured), 5.50%, due 1/1/18 1,472(B)
3,085 Memphis-Shelby Co. Arpt. Au. Spec. Fac. Ref. Rev. (Federal
Express Corp.), Ser. 2002, 5.05%, due 9/1/12 3,120(B)
2,800 Morgan Keegan Muni. Prod., Inc. Var. Sts. Trust Receipts, Ser.
2007 F, (LOC: BNP Paribas), 2.00%, due 8/7/08 2,800(u)
------
9,208
TEXAS (21.7%)
4,145 Anson Ed. Fac. Corp. Std. Hsg. Rev. (Univ. of Texas at
Dallas-Waterview Park Proj.), Ser. 2002, (ACA Insured), 5.00%,
due 1/1/23 3,576(B)
920 Austin Convention Enterprises, Inc. Convention Ctr. Hotel First
Tier Rev., Ser. 2001 A, 6.38%, due 1/1/16 Pre-Refunded 1/1/11 996
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 3,108(u)(B)
1,000 Brazos River Au. Ref. PCR (TXU Energy Co. LLC Proj.), Ser. 2003
D, 5.40%, due 10/1/29 Putable 10/1/14 883(u)(B)
3,600 Corpus Christi Tax & Muni. Hotel Occupancy Tax G.O., Ser. 2002,
(FSA Insured), 5.50%, due 9/1/17 3,904
2,100 Dallas-Fort Worth Int'l Arpt. Fac. Imp. Corp. Rev., Ser. 2004 A1,
6.15%, due 1/1/16 2,062(B)
1,935 Dallas-Fort Worth Int'l Arpt. Imp. Rev., Ser. 2004 B, (FSA
Insured), 5.50%, due 11/1/18 1,972
1,750 Ector Co. Hosp. Dist. Hosp. Rev., Ser. 2002 A, 5.63%, due 4/15/16 1,765
1,745 Ector Co. Hosp. Dist. Hosp. Rev., Ser. 2002 A, 5.63%, due 4/15/17 1,758
2,900 Harris Co. Toll Road Sr. Lien Rev., Ser. 2008 B, 5.00%, due
8/15/33 2,902(O)
2,210 Harris Co. Toll Road Sr. Lien Rev., (Unrefunded Bal.), Ser. 2002,
(FSA Insured), 5.38%, due 8/15/16 2,383
4,790 Harris Co. Toll Road Sr. Lien Rev., Ser. 2002, (FSA Insured),
5.38%, due 8/15/16 Pre-Refunded 8/15/12 5,232
610 HFDC Central Texas, Inc. Retirement Fac. Rev., Ser. 2006 A,
5.25%, due 11/1/15 587(B)
3,235 Houston Arpt. Sys. Sub. Lien. Ref. Rev., Ser. 2001 A, (FGIC
Insured), 5.50%, due 7/1/16 3,261
4,955 Houston Pub. Imp. Ref. G.O., Ser. 2002, (MBIA Insured), 5.25%,
due 3/1/17 5,199
4,780 North Central Hlth. Fac. Dev. Corp. Hosp. Ref. Rev. (Baylor Hlth.
Care Sys. Proj.), Ser. 1998, 5.10%, due 5/15/13 4,879(B)
950 Northwest Texas Independent Sch. Dist. Sch. Bldg., Ser. 2002,
(PSF Insured), 5.50%, due 8/15/17 Pre-Refunded 2/15/13 1,047
50 Northwest Texas Independent Sch. Dist. Sch. Bldg. (Unrefunded
Bal.), Ser. 2002, (PSF Insured), 5.50%, due 8/15/17 53
20 San Antonio Cert. of Obligation G.O., Ser. 2002, 5.00%, due
2/1/14 Pre-Refunded 2/1/12 21
6,795 San Antonio Independent Sch. Dist. Unlimited Tax G.O., Ser. 2001
B, (PSF Insured), 5.38%, due 8/15/17 7,184
1,240 San Antonio Unrefunded Balance Cert. of Obligation G.O.
(Unrefunded Bal.), Ser. 2002, 5.00%, due 2/1/14 1,306
500 San Leanna Ed. Fac. Corp. Higher Ed. Ref. Rev., (St. Edwards
Univ. Proj.), Ser. 2007, 5.00%, due 6/1/19 499(B)
910 Southmost Reg. Wtr. Auth. Wtr. Supply Contract Rev., Ser. 2002,
(MBIA Insured), 5.50%, due 9/1/19 Pre-Refunded 9/1/12 997
1,000 Southmost Reg. Wtr. Auth. Wtr. Supply Contract Rev. (Unrefunded
Bal.), Ser. 2002, (MBIA Insured), 5.50%, due 9/1/19 1,070
4,200 Tarrant Reg. Wtr. Dist. Wtr. Ref. & Imp. Rev., Ser. 2002, (FSA
Insured), 5.38%, due 3/1/16 4,543
365 Texas Std. Hsg. Corp. Std. Hsg. Rev. (Midwestern St. Univ.
Proj.), Ser. 2002, 5.50%, due 9/1/12 372
See Notes to Schedule of Investments
JULY 31, 2008
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
(UNAUDITED)
PRINCIPAL AMOUNT SECURITY(@) VALUE(+)
($000's omitted) ($000's omitted)
1,000 Trinity River Au. Imp. & Ref. Rev. (Tarrant Co. Wtr. Proj.), Ser.
2003, (MBIA Insured), 5.50%, due 2/1/16 Pre-Refunded 2/1/13 1,099
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 1,107
------
63,765
UTAH (0.4%)
1,200 Uintah Co. Muni. Bldg. Au. Lease Rev., Ser. 2008, 5.25%, due
6/1/20 1,208
VIRGIN ISLANDS (0.8%)
1,000 Virgin Islands Pub. Fin. Au. Refinery Fac. Rev. (HOVENSA
Refinery), Ser. 2003, 6.13%, due 7/1/22 991
1,500 Virgin Islands Pub. Fin. Au. Refinery Fac. Rev. (HOVENSA
Refinery), Ser. 2004, 5.88%, due 7/1/22 1,452(B)
------
2,443
VIRGINIA (1.1%)
2,620 Peninsula Ports Au. Res. Care Fac. Ref. Rev. (VA Baptist Homes),
Ser. 2006 C, 5.25%, due 12/1/21 2,339(B)
1,000 Virginia Beach Dev. Au. Residential Care Fac. Mtge. Ref. Rev.
(Westminster-Canterbury of Hampton Roads, Inc.), Ser. 2005,
5.00%, due 11/1/22 924(B)
------
3,263
WASHINGTON (11.9%)
8,800 Energy Northwest Elec. Ref. Rev. (Proj. Number 3), Ser. 2001 A,
(FSA Insured), 5.50%, due 7/1/17 9,341
5,000 King & Snohomish Cos. Northshore Sch. Dist. Number 417 G.O., Ser.
2002, (FSA Insured), 5.50%, due 12/1/17 Pre-Refunded 6/1/12 5,471
4,260 King Co. Pub. Trans. Sales Tax Ref. G.O., Ser. 2002, (FSA
Insured), 5.38%, due 12/1/14 4,613
6,250 Port of Seattle Sub. Lien Rev., Ser. 2002 B, (FGIC Insured),
5.50%, due 9/1/16 6,332
1,000 Skagit Co. Pub. Hosp. Dist. Number 1 Ref. Rev., Ser. 2007, 5.63%,
due 12/1/25 972
1,000 Skagit Co. Pub. Hosp. Dist. Ref. Rev., Ser. 2003, 6.00%, due
12/1/23 1,010
1,625 Skagit Co. Pub. Hosp. Dist. Ref. Rev., Ser. 2003, 6.00%, due
12/1/18 1,673
2,500 Tacoma Wtr. Sys. Rev., Ser. 2001, (FGIC Insured), 5.13%, due
12/1/19 2,570
3,125 Washington St. Hlth. Care Fac. Au. Rev. (Yakima Valley Mem. Hosp.
Assoc.), Ser. 2002, (ACA Insured), 5.00%, due 12/1/17 3,075(B)
------
35,057
WISCONSIN (5.6%)
1,290 Badger Tobacco Asset Securitization Corp. Tobacco Settlement
Asset-Backed Rev., Ser. 2002, 6.13%, due 6/1/27 1,261
1,900 Univ. of Wisconsin Hosp. & Clinics Au. Hosp. Rev., Ser. 2002 B,
5.50%, due 4/1/12 1,985
1,370 Wisconsin Hlth. & Ed. Fac. Au. Rev. (Aurora Med. Group, Inc.
Proj.), Ser. 1996, (FSA Insured), 6.00%, due 11/15/11 1,497(B)
1,000 Wisconsin Hlth. & Ed. Fac. Au. Rev., (Franciscan Sisters Hlth.
Care), Ser. 2007, 5.00%, due 9/1/14 1,022(B)
7,205 Wisconsin St. G.O., Ser. 2002 C, (MBIA Insured), 5.25%, due
5/1/17 Pre-Refunded 5/1/12 7,785
2,780 Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Kenosha Hosp. & Med.
Ctr., Inc. Proj.), Ser. 1999, 5.50%, due 5/15/15 2,834(B)
------
16,384
WYOMING (1.6%)
4,895 Wyoming Comm. Dev. Au. Hsg. Rev., Ser. 2006 6, 5.00%, due 12/1/21 4,611
OTHER (1.6%)
2,000 MuniMae Subordinated Cumulative Perpetual Preferred Shares, Ser.
C, 4.70%, due 6/30/49 Putable 9/30/09 2,010(n)
3,000 Non-Profit Pfd. Fdg. Trust I, Ser. 2006 C, 4.72%, due 9/15/37 2,680(#)
------
4,690
See Notes to Schedule of Investments
JULY 31, 2008
SCHEDULE OF INVESTMENTS Intermediate Municipal Fund Inc. cont'd
---------------------------------------------------------------
(UNAUDITED)
TOTAL INVESTMENTS (160.5%) (COST $470,025) 471,786(##)
Cash, receivables and other assets, less liabilities (0.5%) 1,496
Liquidation Value of Auction Market Preferred Shares [(61.0%)] (179,400)
TOTAL NET ASSETS APPLICABLE TO COMMON SHAREHOLDERS (100.0%) $293,882
See Notes to Schedule of Investments
JULY 31, 2008 (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") (individually a "Fund", and
collectively, the "Funds") are valued daily by obtaining valuations from
independent pricing services based on readily available bid quotations, or
if quotations are not available, by methods which include considerations
such as: yields or prices of securities of comparable quality, coupon,
maturity and type; indications as to values from dealers; and general
market conditions. If a valuation is not available from an independent
pricing service, the Funds seek to obtain quotations from principal market
makers. If such quotations are not readily available, securities are
valued using 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, 2008, selected Fund information on a U.S. federal income tax
basis was as follows:
(000'S OMITTED) NET
NEUBERGER BERMAN GROSS GROSS UNREALIZED
UNREALIZED UNREALIZED APPRECIATION
COST APPRECIATION DEPRECIATION (DEPRECIATION)
CALIFORNIA $153,500 $1,999 $2,075 $(76)
INTERMEDIATE 470,025 8,420 6,659 1,761
NEW YORK 125,058 1,509 1,398 111
(@) At time of investment, municipal securities purchased by the Funds 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 Ratings Services, or Fitch, Inc. or, where not rated, are
determined by the Funds' investment manager to be of comparable quality.
Approximately 77%, 71%, and 66% 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 under the Securities Act of 1933, as amended, and have been deemed by
the investment manager to be liquid. At July 31, 2008, these securities
amounted to approximately $4,423,000 or 1.5% of net assets applicable to
common shareholders for Intermediate.
(O) All or a portion of this security was purchased on a when-issued basis. At
July 31, 2008, these securities amounted to $2,902,000 or 1.0% of net
assets applicable to common shareholders for Intermediate.
(OO) All or a portion of this security is segregated as collateral for
when-issued purchase commitments.
(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, 2008.
For information on the Funds' significant accounting policies, please refer to
the Funds' most recent financial statements.
JULY 31, 2008 (UNAUDITED)
(a) Security is subject to a guarantee provided by Bayerische Landesbank,
backing 100% of the total principal.
(#) 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 under the Securities Act of 1933, as amended, and have been deemed by
the investment manager to be illiquid and restricted. At July 31, 2008,
these securities amounted to approximately $2,680,000 or 0.9% of net
assets applicable to common shareholders for Intermediate.
ACQUISITION
COST
PERCENTAGE
OF NET ASSETS
APPLICABLE TO FAIR VALUE
COMMON PERCENTAGE OF NET
SHAREHOLDERS ASSETS APPLICABLE TO
AS OF COMMON
(000'S OMITTED) ACQUISITION ACQUISITION ACQUISITION VALUE AS OF SHAREHOLDERS AS OF
RESTRICTED SECURITY DATE COST DATE JULY 31, 2008 JULY 31, 2008
Non-Profit Pfd. Fdg. Trust I, Ser. 2006 C,
4.72%, due 9/15/37 10/2/2006 $3,000 1.0% $2,680 0.9%
For information on the Funds' significant accounting policies, please refer to
the Funds' most recent financial statements.
ITEM 2. CONTROLS AND PROCEDURES.
On September 15, 2008 Lehman Brothers Holdings Inc., a publicly owned
holding company which wholly owns Neuberger Berman Management LLC, Neuberger
Berman, LLC and Lehman Brothers Asset Management LLC, filed a voluntary petition
under Chapter 11 of the U.S. Bankruptcy Code.
On September 29, 2008 it was announced that Bain Capital Partners, LLC and
Hellman & Friedman LLC agreed to acquire, subject to certain approvals including
the Lehman Brothers Holdings Inc. bankruptcy court approval, Neuberger Berman
and the fixed income and certain alternative asset management businesses of
Lehman Brothers' Investment Management Division, in a cash transaction with
Lehman Brothers Holdings Inc.
In the meantime, Neuberger Berman Management LLC, Neuberger Berman, LLC and
Lehman Brothers Asset Management LLC will continue to operate in the ordinary
course of business as the investment manager/sub-adviser of the Neuberger
Berman/Lehman Brothers Funds.
(a) Based on an evaluation of the disclosure controls and procedures (as
defined in rule 30a-3(c) under the 1940 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 29, 2008
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 29, 2008
By: /s/ John M. McGovern
--------------------
John M. McGovern
Treasurer and Principal Financial
and Accounting Officer
Date: September 29, 2008