Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 The following portfolio data for the Franklin Templeton funds is made available to the public under our Portfolio Holdings Release Policy and is "as of" the date indicated. This portfolio data should not be relied upon as a complete listing of a fund's holdings (or of a fund's top holdings) as information on particular holdings may be withheld if it is in the fund's interest to do so. Additionally, foreign currency forwards are not included in the portfolio data. Instead, the net market value of all currency forward contracts is included in cash and other net assets of the fund. Further, portfolio holdings data of over-the-counter derivative investments such as Credit Default Swaps, Interest Rate Swaps or other Swap contracts list only the name of counterparty to the derivative contract, not the details of the derivative. Complete portfolio data can be found in the semi- and annual financial statements of the fund. Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 00037EAM8 ABAG FIN AUTH FOR NONPROFIT CO 475,000 $476,159 0.00% 6.65% 10/01/22 00037NFM3 ABAG FIN AUTH FOR NONPROFIT CO 5,500,000 $5,500,660 0.04% 5.45% 04/01/39 00037CNW6 ABAG FIN AUTH FOR NONPROFIT CO 8,620,000 $9,958,427 0.07% 6% 05/15/29 00037CPA2 ABAG FIN AUTH FOR NONPROFIT CO 9,050,000 $10,214,644 0.07% 5.625% 05/15/29 00037CUQ1 ABAG FIN AUTH FOR NONPROFIT CO 10,000,000 $10,480,600 0.08% 5% 11/15/35 00037CQP8 ABAG FIN AUTH FOR NONPROFIT CO 17,635,000 $20,296,297 0.15% 6.125% 05/15/40 00037CPL8 ABAG FIN AUTH FOR NONPROFIT CO 17,500,000 $20,581,400 0.15% 6.25% 08/01/39 010891PL7 ALAMEDA CALIF CTFS PARTN 7,000,000 $7,020,720 0.05% 5.3% 06/01/26 010891PM5 ALAMEDA CALIF CTFS PARTN 8,925,000 $8,948,919 0.07% 5% 06/01/28 010891PK9 ALAMEDA CALIF CTFS PARTN 19,195,000 $19,250,089 0.14% 5% 06/01/23 010869DU6 ALAMEDA CORRIDOR TRANS AUTH CA 20,000,000 $11,238,400 0.08% N/A 10/01/29 010869DV4 ALAMEDA CORRIDOR TRANS AUTH CA 41,665,000 $22,203,695 0.16% N/A 10/01/30 010869EQ4 ALAMEDA CORRIDOR TRANS AUTH CA 32,960,000 $35,225,670 0.26% 5.45% 10/01/25 010869EP6 ALAMEDA CORRIDOR TRANS AUTH CA 43,770,000 $46,721,411 0.34% 5.4% 10/01/24 010869EN1 ALAMEDA CORRIDOR TRANS AUTH CA 70,015,000 $74,763,417 0.55% 5.3% 10/01/23 010869EM3 ALAMEDA CORRIDOR TRANS AUTH CA 81,685,000 $87,224,876 0.64% 5.3% 10/01/22 016059BV8 ALHAMBRA CALIF UNI SCH DIST 13,025,000 $13,384,359 0.10% 5% 08/01/29 022555UK0 ALVORD CALIF UNI SCH DIST 15,000,000 $5,817,300 0.04% N/A 08/01/36 022555TK2 ALVORD CALIF UNI SCH DIST 11,625,000 $12,879,802 0.09% 5% 08/01/32 022555VV5 ALVORD CALIF UNI SCH DIST 20,000,000 $21,955,600 0.16% 5% 08/01/42 022555UN4 ALVORD CALIF UNI SCH DIST 42,500,000 $33,100,700 0.24% N/A 08/01/46 032591MR7 ANAHEIM CA UHSD GO 8,570,000 $5,633,061 0.04% N/A 08/01/26 03255LBX6 ANAHEIM CALIF PUB FING AUTH RE 15,080,000 $5,388,385 0.04% N/A 03/01/37 03255LBS7 ANAHEIM CALIF PUB FING AUTH RE 13,665,000 $6,437,171 0.05% N/A 09/01/32 03255LBN8 ANAHEIM CALIF PUB FING AUTH RE 14,425,000 $8,593,549 0.06% N/A 09/01/28 Page 1 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 03255LBU2 ANAHEIM CALIF PUB FING AUTH RE 24,970,000 $10,433,464 0.08% N/A 09/01/34 03255LBP3 ANAHEIM CALIF PUB FING AUTH RE 24,810,000 $13,906,501 0.10% N/A 09/01/29 03255LBM0 ANAHEIM CALIF PUB FING AUTH RE 22,860,000 $14,429,003 0.11% N/A 09/01/27 03255LBT5 ANAHEIM CALIF PUB FING AUTH RE 37,070,000 $16,490,960 0.12% N/A 09/01/33 03255LBL2 ANAHEIM CALIF PUB FING AUTH RE 29,430,000 $19,552,703 0.14% N/A 09/01/26 03255LBJ7 ANAHEIM CALIF PUB FING AUTH RE 26,855,000 $19,804,488 0.14% N/A 09/01/24 03667PCB6 ANTELOPE VALLEY CALIF CMNTY CO 14,900,000 $16,259,625 0.12% 5.25% 08/01/39 055031FU7 AZUSA CALIF REDEV AGY TAX ALLO 8,420,000 $9,526,724 0.07% 7% 08/01/38 057507HR9 BAKERSFIELD CALIF CITY SCH DIS 8,390,000 $9,060,780 0.07% 5% 11/01/31 058214BB2 BALDWIN PARK CALIF PUB FING AU 2,690,000 $2,700,894 0.02% 7.75% 08/01/19 058219SR8 BALDWIN PARK CALIF UNI SCH DIS 25,000,000 $3,149,750 0.02% N/A 08/01/48 058219RD0 BALDWIN PARK CALIF UNI SCH DIS 11,410,000 $3,282,086 0.02% N/A 08/01/36 058219SS6 BALDWIN PARK CALIF UNI SCH DIS 60,000,000 $5,126,400 0.04% N/A 08/01/2053 07201RAN2 BAY AREA GOVT ASSN CALIF REV 210,000 $210,483 0.00% 5.3% 10/01/21 07201TSJ8 BAY AREA GOVT ASSN CALIF REV 445,000 $446,045 0.00% 5.375% 12/15/25 072024JL7 BAY AREA TOLL AUTH CALIF TOLL 18,000,000 $20,672,100 0.15% 5.5% 04/01/43 072024TJ1 BAY AREA TOLL AUTH CALIF TOLL 27,355,000 $30,886,256 0.23% 5.125% 04/01/48 072024TH5 BAY AREA TOLL AUTH CALIF TOLL 33,000,000 $37,965,510 0.28% 5.25% 04/01/2053 072024TF9 BAY AREA TOLL AUTH CALIF TOLL 36,040,000 $40,786,107 0.30% 5% 04/01/43 072024JM5 BAY AREA TOLL AUTH CALIF TOLL 53,585,000 $60,899,352 0.44% 5.125% 04/01/47 072024QK1 BAY AREA TOLL AUTH CALIF TOLL 75,000,000 $80,635,500 0.59% 5% 10/01/2050 072024JK9 BAY AREA TOLL AUTH CALIF TOLL 81,800,000 $92,640,136 0.68% 5% 04/01/39 072024DJ8 BAY AREA TOLL AUTH CALIF TOLL 101,435,000 $107,351,703 0.78% 5% 04/01/31 07786BAW0 BELL CALIF 080495CG7 BELMONT-REDWOOD SHORES CALIF S 088023HD1 13016NBX1 5,195,000 $5,194,636 0.04% 5% 08/01/34 10,000,000 $11,014,800 0.08% 5% 08/01/32 BEVERLY HILLS CALIF UNI SCH DI 8,590,000 $8,826,998 0.06% 5% 08/01/30 CALIFORNIA CNTY TOB STL - ALAM 7,500,000 $7,500,300 0.05% 5.875% 06/01/35 13016NEB6 CALIFORNIA CNTY TOB STL - KERN 10,295,000 $11,160,809 0.08% 5% 06/01/34 13016NEC4 CALIFORNIA CNTY TOB STL - KERN 17,650,000 $18,921,153 0.14% 5% 06/01/40 13016NAE4 CALIFORNIA CNTY TOB STL - STAN 8,690,000 $8,690,347 0.06% 5.875% 06/01/43 130175SC7 CALIFORNIA EDL FACS AUTH REV 4,120,000 $2,476,532 0.02% N/A 10/01/28 130175SE3 CALIFORNIA EDL FACS AUTH REV 5,685,000 $3,067,228 0.02% N/A 10/01/30 130175DL3 CALIFORNIA EDL FACS AUTH REV 5,150,000 $3,246,199 0.02% N/A 09/01/26 Page 2 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 130175SG8 CALIFORNIA EDL FACS AUTH REV 7,615,000 $3,720,155 0.03% N/A 10/01/32 130175SF0 CALIFORNIA EDL FACS AUTH REV 7,615,000 $3,905,428 0.03% N/A 10/01/31 130175SB9 CALIFORNIA EDL FACS AUTH REV 7,365,000 $4,628,828 0.03% N/A 10/01/27 130175SA1 CALIFORNIA EDL FACS AUTH REV 7,620,000 $5,030,343 0.04% N/A 10/01/26 1301757M8 CALIFORNIA EDL FACS AUTH REV 5,220,000 $5,410,530 0.04% 5% 12/01/35 1301752J0 CALIFORNIA EDL FACS AUTH REV 7,275,000 $7,534,499 0.06% 5% 10/01/36 130178X84 CALIFORNIA EDL FACS AUTH REV 14,430,000 $19,615,709 0.14% 5% 06/01/43 130178VU7 CALIFORNIA EDL FACS AUTH REV 24,960,000 $34,739,328 0.25% 5.25% 04/01/40 130178X76 CALIFORNIA EDL FACS AUTH REV 28,495,000 $38,735,248 0.28% 5% 06/01/43 1301783W4 CALIFORNIA EDL FACS AUTH REV 90,580,000 $124,026,665 0.91% 5% 05/01/45 13033LLB1 CALIFORNIA HEALTH FACS FING AU 125,000 $150,096 0.00% 6.5% 10/01/38 13033JW81 CALIFORNIA HEALTH FACS FING AU 900,000 $903,609 0.01% 6.5% 12/01/22 13033AB83 CALIFORNIA HEALTH FACS FING AU 1,800,000 $1,801,764 0.01% 5.5% 12/01/22 13033ATY7 CALIFORNIA HEALTH FACS FING AU 2,780,000 $2,789,952 0.02% 5.75% 07/01/15 13033LEJ2 CALIFORNIA HEALTH FACS FING AU 4,200,000 $4,654,272 0.03% 5% 08/15/39 13033F7J3 CALIFORNIA HEALTH FACS FING AU 4,000,000 $4,774,640 0.03% 6.25% 10/01/28 13033A4K4 CALIFORNIA HEALTH FACS FING AU 6,340,000 $6,344,945 0.05% 5.4% 07/01/28 13033LLC9 CALIFORNIA HEALTH FACS FING AU 6,375,000 $7,667,977 0.06% 6.5% 10/01/38 13033ATZ4 CALIFORNIA HEALTH FACS FING AU 8,500,000 $8,531,535 0.06% 5.625% 07/01/19 13033LRT6 CALIFORNIA HEALTH FACS FING AU 10,000,000 $10,976,700 0.08% 5.25% 11/01/41 13033LHB6 CALIFORNIA HEALTH FACS FING AU 10,000,000 $11,055,700 0.08% 5.25% 07/01/38 13033LAU1 CALIFORNIA HEALTH FACS FING AU 10,000,000 $11,670,700 0.09% 6% 07/01/34 13033LUU9 CALIFORNIA HEALTH FACS FING AU 11,000,000 $12,409,980 0.09% 5.25% 08/15/41 13033LBM8 CALIFORNIA HEALTH FACS FING AU 10,500,000 $12,964,875 0.09% 6.5% 11/01/24 130795TW7 CALIFORNIA HEALTH FACS FING AU 13,000,000 $14,009,840 0.10% 5.25% 07/01/41 13033LBN6 CALIFORNIA HEALTH FACS FING AU 13,870,000 $16,979,654 0.12% 6.25% 11/01/29 13033LBE6 CALIFORNIA HEALTH FACS FING AU 18,000,000 $20,553,840 0.15% 5.75% 09/01/39 13033F2Z2 CALIFORNIA HEALTH FACS FING AU 30,300,000 $32,723,394 0.24% 5% 08/15/38 13033JSJ2 CALIFORNIA HEALTH FACS FING AU 43,780,000 $43,607,069 0.32% 7% 09/01/21 13033LSJ7 CALIFORNIA HEALTH FACS FING AU 50,000,000 $55,123,500 0.40% 5.25% 03/01/41 13033FQ45 CALIFORNIA HEALTH FACS FING AU 76,570,000 $81,651,185 0.60% 5.25% 11/15/46 13033K8D4 CALIFORNIA HSG FIN AGY REV 5,000,000 $5,036,650 0.04% 4.75% 08/01/36 13033EY64 CALIFORNIA HSG FIN AGY REV 11,950,000 $11,951,195 0.09% 5.5% 08/01/39 Page 3 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 13033WLA9 CALIFORNIA INFRASTRUCTURE & EC 5,000,000 $6,534,350 0.05% 5% 07/01/33 13033WKZ5 CALIFORNIA INFRASTRUCTURE & EC 50,985,000 $66,342,701 0.48% 5% 07/01/29 130493BK4 CALIFORNIA MUN FIN AUTH COP 10,000,000 $11,036,300 0.08% 5.375% 02/01/29 130493BL2 CALIFORNIA MUN FIN AUTH COP 13,250,000 $14,579,107 0.11% 5.5% 02/01/39 130493AS8 CALIFORNIA MUN FIN AUTH COP 37,100,000 $39,013,989 0.29% 5.25% 02/01/37 130493AT6 CALIFORNIA MUN FIN AUTH COP 90,650,000 $92,858,234 0.68% 5.25% 02/01/46 13048TGP2 CALIFORNIA MUN FIN AUTH REV 7,000,000 $7,732,130 0.06% 5.75% 07/01/40 13048TQN6 CALIFORNIA MUN FIN AUTH REV 33,895,000 $36,973,343 0.27% 5.75% 12/01/43 13062PRW4 CALIFORNIA ST GO 5,000 $5,020 0.00% 5.125% 04/01/24 13062PRY0 CALIFORNIA ST GO 20,000 $20,084 0.00% 5.2% 04/01/26 130628E97 CALIFORNIA ST GO 210,000 $212,045 0.00% 5.9% 03/01/25 13062TGQ1 CALIFORNIA ST GO 255,000 $257,386 0.00% 5.625% 09/01/24 13063AMG6 CALIFORNIA ST GO 415,000 $418,743 0.00% 5.5% 03/01/20 13063ALY8 CALIFORNIA ST GO 540,000 $547,408 0.00% 5.5% 04/01/19 130628C99 CALIFORNIA ST GO 905,000 $909,552 0.01% 6% 08/01/19 130628D31 CALIFORNIA ST GO 990,000 $995,029 0.01% 6% 08/01/24 130628A75 CALIFORNIA ST GO 2,565,000 $2,615,479 0.02% 6% 05/01/24 13063CAU4 CALIFORNIA ST GO 5,005,000 $5,074,719 0.04% 5.625% 10/01/26 13063BPX4 CALIFORNIA ST GO 15,250,000 $17,106,992 0.12% 5% 10/01/41 13063AER1 CALIFORNIA ST GO 20,000,000 $21,686,800 0.16% 5% 06/01/32 13063ACP7 CALIFORNIA ST GO 26,000,000 $28,192,840 0.21% 5% 06/01/32 13063BES7 CALIFORNIA ST GO 25,000,000 $28,747,500 0.21% 5.5% 03/01/40 13063CMC1 CALIFORNIA ST GO 25,000,000 $28,783,000 0.21% 5% 10/01/44 13063BER9 CALIFORNIA ST GO 25,000,000 $30,950,000 0.23% 6% 03/01/33 13063B3X8 CALIFORNIA ST GO 44,745,000 $50,811,079 0.37% 5% 04/01/43 13063A2Z6 CALIFORNIA ST GO 48,000,000 $53,011,200 0.39% 5% 08/01/34 13063AG65 CALIFORNIA ST GO 59,045,000 $64,243,321 0.47% 5.25% 03/01/38 13063A4Y7 CALIFORNIA ST GO 57,130,000 $67,837,875 0.50% 6% 04/01/38 13063BKC5 CALIFORNIA ST GO 69,685,000 $80,368,407 0.59% 5.25% 11/01/40 13063BWB4 CALIFORNIA ST GO 85,000,000 $96,216,600 0.70% 5% 04/01/42 13063BBZ4 CALIFORNIA ST GO 100,000,000 $120,966,000 0.88% 6% 11/01/39 13033L4G9 CALIFORNIA ST HLTH FACS FING A 9,000,000 $10,435,410 0.08% 5% 10/01/38 13033LWR4 CALIFORNIA ST HLTH FACS FING A 39,455,000 $43,766,247 0.32% 5% 08/15/2051 Page 4 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 13033LW52 CALIFORNIA ST HLTH FACS FING A 76,565,000 $85,638,718 0.63% 5% 08/15/2052 130684GU1 CALIFORNIA ST PUB WKS BRD LEAS 4,810,000 $4,827,123 0.04% 5% 06/01/25 13068HNR1 CALIFORNIA ST PUB WKS BRD LEAS 7,500,000 $7,529,850 0.06% 5% 10/01/19 13068HED2 CALIFORNIA ST PUB WKS BRD LEAS 8,320,000 $8,359,020 0.06% 5.9% 04/01/17 13068HJF2 CALIFORNIA ST PUB WKS BRD LEAS 8,645,000 $8,679,061 0.06% 5.25% 10/01/22 130685ZY9 CALIFORNIA ST PUB WKS BRD LEAS 8,700,000 $10,239,639 0.07% 5.5% 03/01/25 130685A26 CALIFORNIA ST PUB WKS BRD LEAS 10,000,000 $11,944,000 0.09% 6% 03/01/35 130685T26 CALIFORNIA ST PUB WKS BRD LEAS 15,000,000 $16,947,300 0.12% 5% 12/01/31 13068LAS4 CALIFORNIA ST PUB WKS BRD LEAS 16,520,000 $18,918,538 0.14% 5% 11/01/31 1306852Y5 CALIFORNIA ST PUB WKS BRD LEAS 17,885,000 $20,232,585 0.15% 5% 04/01/32 1306852J8 CALIFORNIA ST PUB WKS BRD LEAS 29,000,000 $32,346,600 0.24% 5% 04/01/37 13068LLB9 CALIFORNIA ST PUB WKS BRD LEAS 40,000,000 $45,394,000 0.33% 5% 11/01/38 1306852G4 CALIFORNIA ST PUB WKS BRD LEAS 48,070,000 $54,580,600 0.40% 5% 04/01/31 130685YN4 CALIFORNIA ST PUB WKS BRD LEAS 50,000,000 $61,328,500 0.45% 6.375% 11/01/34 130685XA3 CALIFORNIA ST PUB WKS BRD LEAS 100,000,000 $118,013,000 0.86% 5.75% 10/01/30 13063CLC2 CALIFORNIA ST RAN 25,000,000 $25,162,750 0.18% 1.5% 06/22/15 13077CQ98 CALIFORNIA ST UNIV REV 3,280,000 $3,387,321 0.02% 5% 11/01/35 13077CQ80 CALIFORNIA ST UNIV REV 4,100,000 $4,249,609 0.03% 5% 11/01/30 13077CP99 CALIFORNIA ST UNIV REV 9,620,000 $10,001,914 0.07% 5% 11/01/35 13077CP81 CALIFORNIA ST UNIV REV 11,390,000 $11,842,183 0.09% 5% 11/01/30 13077CM43 CALIFORNIA ST UNIV REV 23,000,000 $26,843,760 0.20% 5% 11/01/39 13077CVY7 CALIFORNIA ST UNIV REV 29,645,000 $33,275,623 0.24% 5% 11/01/42 13077CM50 CALIFORNIA ST UNIV REV 32,345,000 $37,393,407 0.27% 5% 11/01/44 13078AUX3 CALIFORNIA STATEWIDE CMNTYS DE 275,000 $275,885 0.00% 5.25% 10/01/24 13077THZ3 CALIFORNIA STATEWIDE CMNTYS DE 900,000 $902,547 0.01% 5.375% 04/01/17 130911C57 CALIFORNIA STATEWIDE CMNTYS DE 2,800,000 $2,793,280 0.02% 5.25% 07/01/25 130911MP2 CALIFORNIA STATEWIDE CMNTYS DE 3,400,000 $3,410,098 0.02% 5.5% 01/01/28 130795JS7 CALIFORNIA STATEWIDE CMNTYS DE 4,000,000 $4,461,800 0.03% 5% 10/01/37 13078RAW0 CALIFORNIA STATEWIDE CMNTYS DE 4,945,000 $4,945,939 0.04% 5.875% 07/01/32 130911A91 CALIFORNIA STATEWIDE CMNTYS DE 5,000,000 $4,984,200 0.04% 5.25% 07/01/30 130911A83 CALIFORNIA STATEWIDE CMNTYS DE 5,640,000 $5,627,422 0.04% 5.25% 07/01/24 13077TFT9 CALIFORNIA STATEWIDE CMNTYS DE 5,750,000 $5,760,982 0.04% 5% 04/01/18 13077TFU6 CALIFORNIA STATEWIDE CMNTYS DE 6,000,000 $6,005,400 0.04% 5.125% 04/01/23 Page 5 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 130911V31 CALIFORNIA STATEWIDE CMNTYS DE 6,300,000 $6,327,468 0.05% 5% 03/01/30 13078RET3 CALIFORNIA STATEWIDE CMNTYS DE 8,000,000 $8,889,040 0.06% 5.125% 05/15/31 13078REU0 CALIFORNIA STATEWIDE CMNTYS DE 8,500,000 $9,514,135 0.07% 5.375% 05/15/38 13078REQ9 CALIFORNIA STATEWIDE CMNTYS DE 9,500,000 $10,434,800 0.08% 5.5% 05/15/26 130795TX5 CALIFORNIA STATEWIDE CMNTYS DE 9,770,000 $10,874,987 0.08% 5.5% 07/01/30 130795VJ3 CALIFORNIA STATEWIDE CMNTYS DE 10,000,000 $10,879,900 0.08% 5% 04/01/31 1309116N5 CALIFORNIA STATEWIDE CMNTYS DE 10,515,000 $11,275,549 0.08% 4.75% 04/01/33 130795RC3 CALIFORNIA STATEWIDE CMNTYS DE 12,000,000 $13,349,400 0.10% 5.75% 07/01/47 130911B25 CALIFORNIA STATEWIDE CMNTYS DE 13,900,000 $13,762,251 0.10% 5.25% 07/01/35 130795UB1 CALIFORNIA STATEWIDE CMNTYS DE 12,675,000 $14,088,642 0.10% 5.5% 07/01/31 130795B63 CALIFORNIA STATEWIDE CMNTYS DE 12,290,000 $14,816,455 0.11% 6.25% 08/01/24 130795RL3 CALIFORNIA STATEWIDE CMNTYS DE 15,300,000 $16,531,497 0.12% 5.25% 07/01/47 13077TJA6 CALIFORNIA STATEWIDE CMNTYS DE 19,025,000 $19,076,177 0.14% 5.375% 04/01/30 130911M23 CALIFORNIA STATEWIDE CMNTYS DE 20,000,000 $20,384,000 0.15% 5% 07/01/27 130795Y68 CALIFORNIA STATEWIDE CMNTYS DE 18,500,000 $21,088,150 0.15% 5.25% 11/01/30 130795PQ4 CALIFORNIA STATEWIDE CMNTYS DE 20,000,000 $21,618,800 0.16% 5% 12/01/37 130911B33 CALIFORNIA STATEWIDE CMNTYS DE 23,930,000 $22,700,237 0.17% 5% 07/01/39 130795XF9 CALIFORNIA STATEWIDE CMNTYS DE 20,000,000 $22,906,800 0.17% 6.25% 08/15/33 130795B89 CALIFORNIA STATEWIDE CMNTYS DE 19,690,000 $23,744,958 0.17% 6.75% 02/01/38 130795B71 CALIFORNIA STATEWIDE CMNTYS DE 20,015,000 $24,439,315 0.18% 6.625% 08/01/29 130795UD7 CALIFORNIA STATEWIDE CMNTYS DE 23,925,000 $25,711,479 0.19% 5% 11/15/38 130909EY6 CALIFORNIA STATEWIDE CMNTYS DE 24,545,000 $27,834,520 0.20% 5.75% 10/01/25 130795QY6 CALIFORNIA STATEWIDE CMNTYS DE 29,600,000 $32,928,520 0.24% 5.75% 07/01/47 130795XG7 CALIFORNIA STATEWIDE CMNTYS DE 36,500,000 $40,821,965 0.30% 5.75% 08/15/38 130911M31 CALIFORNIA STATEWIDE CMNTYS DE 45,000,000 $46,060,200 0.34% 5% 07/01/35 1309112G4 CALIFORNIA STATEWIDE CMNTYS DE 46,980,000 $48,884,569 0.36% 5% 03/01/41 130795Y76 CALIFORNIA STATEWIDE CMNTYS DE 56,000,000 $61,592,160 0.45% 5% 11/01/40 13078RES5 CALIFORNIA STATEWIDE CMNTYS DE 59,000,000 $65,068,740 0.48% 6% 05/15/40 130795TD9 CALIFORNIA STATEWIDE CMNTYS DE 63,255,000 $68,610,168 0.50% 5.25% 11/15/48 1307955E3 CALIFORNIA STATEWIDE CMNTYS DE 88,945,000 $98,543,054 0.72% 5% 04/01/42 130911U24 CALIFORNIA STATEWIDE CMNTYS DE 108,300,000 $111,669,213 0.82% 5% 11/15/43 1309112H2 CALIFORNIA STATEWIDE CMNTYS DE 179,945,000 $187,054,626 1.37% 5.25% 03/01/45 134121AV4 CAMPBELL CALIF REDEV AGY TAX A 5,000,000 $5,001,650 0.04% 6% 10/01/33 Page 6 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 134141RC6 CAMPBELL CALIF UN SCH DIST 5,000,000 $4,431,250 0.03% N/A 08/01/20 134141RD4 CAMPBELL CALIF UN SCH DIST 6,280,000 $5,355,081 0.04% N/A 08/01/21 134159NV0 CAMPBELL CALIF UN SCH DIST 5,205,000 $5,682,662 0.04% 5% 08/01/28 134141XG0 CAMPBELL CALIF UN SCH DIST 6,260,000 $6,543,703 0.05% 5% 08/01/29 142665CP1 CARLSBAD CALIF UNI SCH DIST 14,000,000 $13,058,500 0.10% N/A 05/01/34 142665DF2 CARLSBAD CALIF UNI SCH DIST 33,000,000 $25,252,590 0.18% N/A 08/01/35 152339HX8 CENTINELA VALLEY CA USD GO 15,630,000 $20,452,323 0.15% 5.5% 08/01/33 156792DP5 CERRITOS CALIF CMNTY COLLEGE D 16,580,000 $17,771,936 0.13% 5% 08/01/31 156809CV5 CERRITOS CALIF PUB FING AUTH R 1,675,000 $1,798,497 0.01% 5% 11/01/22 168520KP8 CHICO CA UNIF SCH DIST 8,000,000 $8,844,240 0.06% 5% 08/01/43 168515BV5 CHICO CALIF REDEV AGY TAX ALLO 4,000,000 $4,030,200 0.03% 5% 04/01/32 16876QBF5 CHILDRENS TR FD PR TOB SETTLEM 7,210,000 $6,866,010 0.05% 5.5% 05/15/39 16876QBG3 CHILDRENS TR FD PR TOB SETTLEM 25,500,000 $24,037,065 0.18% 5.625% 05/15/43 17131HBD9 CHULA VISTA CA IDR 8,500,000 $8,679,265 0.06% 5.3% 07/01/21 17131HBC1 CHULA VISTA CA IDR 14,000,000 $14,320,180 0.10% 5.5% 12/01/21 17131HCK2 CHULA VISTA CA IDR 17,500,000 $20,865,250 0.15% 5.875% 02/15/34 20056NCU2 COMMERCE CALIF JT PWRS FING AU 5,175,000 $5,176,966 0.04% 5.125% 08/01/35 204712GV9 COMPTON CALIF CMNTY REDEV AGY 10,000,000 $10,251,000 0.07% 6% 08/01/42 204712GT4 COMPTON CALIF CMNTY REDEV AGY 10,000,000 $10,272,700 0.08% 5.7% 08/01/30 204712GU1 COMPTON CALIF CMNTY REDEV AGY 11,160,000 $11,494,130 0.08% 6% 08/01/35 204730BL8 COMPTON CALIF SWR REV 11,775,000 $12,252,594 0.09% 6% 09/01/39 204736DF6 COMPTON CALIF UNI SCH DIST 5,660,000 $5,950,924 0.04% 5% 06/01/29 21223TEL3 CONTRA COSTA CNTY CALIF COP 6,810,000 $6,798,831 0.05% N/A 11/01/15 219770DV3 CORONADO CALIF CMNTY DEV AGY T 6,115,000 $6,133,650 0.04% 5% 09/01/34 229736DE0 CUDAHY CALIF REDEV AGY TAX ALL 6,280,000 $6,370,243 0.05% 6% 10/01/27 235669ET1 DALY CITY CALIF HSG DEV FIN AG 17,870,000 $18,166,642 0.13% 5% 12/15/47 245595FB4 DELANO CALIF UN HIGH SCH DIST 8,520,000 $9,750,969 0.07% 5.15% 02/01/32 271014YE6 EAST BAY CALIF MUN UTIL DIST W 3,365,000 $3,430,684 0.03% 5% 06/01/28 271014YK2 EAST BAY CALIF MUN UTIL DIST W 3,635,000 $3,702,065 0.03% 5% 06/01/28 271014YM8 EAST BAY CALIF MUN UTIL DIST W 4,510,000 $4,591,721 0.03% 5% 06/01/30 271014YN6 EAST BAY CALIF MUN UTIL DIST W 7,505,000 $7,632,960 0.06% 5% 06/01/35 271014YG1 EAST BAY CALIF MUN UTIL DIST W 10,490,000 $10,694,764 0.08% 5% 06/01/30 271014XA5 EAST BAY CALIF MUN UTIL DIST W 10,000,000 $11,981,100 0.09% 5% 06/01/35 Page 7 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 271014YF3 EAST BAY CALIF MUN UTIL DIST W 13,230,000 $13,488,249 0.10% 5% 06/01/29 271014YL0 EAST BAY CALIF MUN UTIL DIST W 14,265,000 $14,525,193 0.11% 5% 06/01/29 271014YP1 EAST BAY CALIF MUN UTIL DIST W 14,000,000 $16,429,280 0.12% 5% 06/01/44 271014YH9 EAST BAY CALIF MUN UTIL DIST W 20,000,000 $20,390,400 0.15% 5% 06/01/35 271014PR7 EAST BAY CALIF MUN UTIL DIST W 99,545,000 $107,637,013 0.79% 5% 06/01/37 282829AK6 EL CENTRO CALIF FING AUTH 6,790,000 $6,806,499 0.05% 5.25% 03/01/26 30377QBA1 FAIRFAX CALIF ELEM SCH DIST 10,380,000 $1,890,301 0.01% N/A 11/01/48 304198GD0 FAIRFIELD CALIF CTFS PARTN 10,000,000 $10,596,100 0.08% 5% 04/01/42 343261ER0 FLORIN CALIF RESOURCE CONSV DI 8,215,000 $8,275,955 0.06% 5% 03/01/33 344619FY2 FONTANA CALIF REDEV AGY TAX AL 12,500,000 $12,596,500 0.09% 5.5% 10/01/27 345105BC3 FOOTHILL/EASTERN CORRIDOR AGY 2,000,000 $1,441,060 0.01% N/A 01/01/28 345105AX8 FOOTHILL/EASTERN CORRIDOR AGY 5,765,000 $4,863,757 0.04% N/A 01/01/23 345105BB5 FOOTHILL/EASTERN CORRIDOR AGY 15,000,000 $11,256,150 0.08% N/A 01/01/27 345105AH3 FOOTHILL/EASTERN CORRIDOR AGY 15,955,000 $16,016,426 0.12% 5% 01/01/35 345105HU7 FOOTHILL/EASTERN CORRIDOR AGY 41,250,000 $16,301,175 0.12% N/A 01/15/37 345105AZ3 FOOTHILL/EASTERN CORRIDOR AGY 20,660,000 $16,425,526 0.12% N/A 01/01/25 345105BA7 FOOTHILL/EASTERN CORRIDOR AGY 23,475,000 $18,101,807 0.13% N/A 01/01/26 345105HW3 FOOTHILL/EASTERN CORRIDOR AGY 56,100,000 $19,624,902 0.14% N/A 01/15/39 345105BD1 FOOTHILL/EASTERN CORRIDOR AGY 35,310,000 $24,501,255 0.18% N/A 01/01/29 345105AW0 FOOTHILL/EASTERN CORRIDOR AGY 30,835,000 $27,263,381 0.20% N/A 01/01/22 345105HX1 FOOTHILL/EASTERN CORRIDOR AGY 130,000,000 $28,018,900 0.20% N/A 01/15/42 345105HV5 FOOTHILL/EASTERN CORRIDOR AGY 77,650,000 $28,893,565 0.21% N/A 01/15/38 345105AY6 FOOTHILL/EASTERN CORRIDOR AGY 72,045,000 $59,027,909 0.43% N/A 01/01/24 345105HL7 FOOTHILL/EASTERN CORRIDOR AGY 98,000,000 $64,622,180 0.47% N/A 01/15/42 345105GZ7 FOOTHILL/EASTERN CORRIDOR AGY 190,000,000 $221,682,500 1.62% 6% 01/15/2053 345105HA1 FOOTHILL/EASTERN CORRIDOR AGY 260,000,000 $301,225,600 2.20% 5.75% 01/15/46 345105GY0 FOOTHILL/EASTERN CORRIDOR AGY 305,000,000 $356,365,050 2.60% 6% 01/15/49 3571543U5 FREMONT CALIF UNI SCH DIST ALA 10,000,000 $10,275,900 0.08% 5% 08/01/28 358232M29 FRESNO CALIF UNI SCH DIST GO 35,000,000 $7,002,100 0.05% N/A 08/01/41 358232P75 FRESNO CALIF UNI SCH DIST GO 47,000,000 $9,402,820 0.07% N/A 08/01/41 378394DD9 GLENDALE CALIF CMNTY COLLEGE D 15,000,000 $8,343,300 0.06% N/A 08/01/28 38122NPB2 GOLDEN STATE TOBACCO SECURITIZ 5,000,000 $3,773,950 0.03% 5.125% 06/01/47 38122NJA1 GOLDEN STATE TOBACCO SECURITIZ 14,085,000 $14,326,276 0.10% 5% 06/01/45 Page 8 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 38122NHS4 GOLDEN STATE TOBACCO SECURITIZ 20,000,000 $20,342,600 0.15% 5% 06/01/45 38122NHZ8 GOLDEN STATE TOBACCO SECURITIZ 30,000,000 $30,513,900 0.22% 5% 06/01/45 38122NXD9 GOLDEN STATE TOBACCO SECURITIZ 30,000,000 $30,520,200 0.22% 5% 06/01/45 38122NGG1 GOLDEN STATE TOBACCO SECURITIZ 34,000,000 $34,582,420 0.25% 5% 06/01/45 38122NUB6 GOLDEN STATE TOBACCO SECURITIZ 50,000,000 $50,965,500 0.37% 5% 06/01/35 38122NPA4 GOLDEN STATE TOBACCO SECURITIZ 77,500,000 $64,043,675 0.47% 5.75% 06/01/47 386485BV7 GRAND TERRACE CALIF CMNTY REDE 10,000,000 $10,995,500 0.08% 6% 09/01/33 417123DB9 HARTNELL CA COMMUN COLLEGE GO 20,000,000 $17,435,000 0.13% N/A 08/01/33 420524LW8 HAWTHORNE CALIF SCH DIST 37,665,000 $8,263,701 0.06% N/A 08/01/48 422153AP1 HEALDSBURG CALIF REDEV AGY TAX 7,750,000 $8,975,817 0.07% 5.375% 08/01/34 446186KV9 HUNTINGTON BEACH CALIF CITY SC 10,005,000 $6,281,439 0.05% N/A 08/01/28 45734TAC8 INLAND EMPIRE TOB ASSET SECURI 35,000,000 $35,220,850 0.26% 5.75% 06/01/26 46361RBL9 IRVINE CALIF UNI SCH DIST SPL 2,865,000 $2,930,980 0.02% 5% 09/01/26 46361RBM7 IRVINE CALIF UNI SCH DIST SPL 10,585,000 $10,820,727 0.08% 5.125% 09/01/36 492245CG8 KERN CALIF CMNTY COLLEGE DIST 15,000,000 $15,865,500 0.12% 5% 03/01/34 503736BY5 LA PALMA CALIF CMNTY DEV COMMN 1,205,000 $1,215,350 0.01% 6.1% 06/01/22 50963JEP9 LAKE ELSINORE CALIF PUB FING A 10,065,000 $10,891,135 0.08% 5.25% 09/01/33 513796BE1 LANCASTER CALIF REDEV AGY RESI 5,000 $5,772 0.00% 10.125% 09/01/16 519550BE6 LAWNDALE CALIF REDEV AGY TAX A 10,280,000 $11,145,473 0.08% 5.5% 08/01/39 525651EA9 LEMON GROVE CALIF SCH DIST 20,990,000 $3,870,556 0.03% N/A 08/01/2050 541482JM8 LOMA LINDA CALIF HOSP REV 8,700,000 $9,073,230 0.07% 5% 12/01/23 541482JR7 LOMA LINDA CALIF HOSP REV 35,000,000 $42,365,050 0.31% 8.25% 12/01/38 542411GF4 LONG BEACH CALIF CMNTY COLLEGE 8,630,000 $8,914,617 0.07% 4% 08/01/42 54241AAW3 LONG BEACH CALIF FIN AUTH NAT 5,000,000 $6,195,000 0.05% 5.5% 11/15/30 54241AAU7 LONG BEACH CALIF FIN AUTH NAT 8,000,000 $9,894,080 0.07% 5.5% 11/15/28 54241AAV5 LONG BEACH CALIF FIN AUTH NAT 17,465,000 $20,657,776 0.15% 5% 11/15/29 54241AAZ6 LONG BEACH CALIF FIN AUTH NAT 35,000,000 $43,296,750 0.32% 5.5% 11/15/37 54241AAY9 LONG BEACH CALIF FIN AUTH NAT 69,800,000 $81,675,772 0.60% 5% 11/15/35 544495JT2 LOS ANGELES CA DEPT OF WTR & P 10,000,000 $10,219,700 0.07% 5% 07/01/31 544495PU2 LOS ANGELES CA DEPT OF WTR & P 10,000,000 $11,221,900 0.08% 5.25% 07/01/38 544495MJ0 LOS ANGELES CA DEPT OF WTR & P 11,345,000 $12,292,988 0.09% 5% 07/01/37 544525GV4 LOS ANGELES CA DEPT OF WTR & P 14,385,000 $15,203,074 0.11% 5% 07/01/36 544495L28 LOS ANGELES CA DEPT OF WTR & P 13,950,000 $16,238,497 0.12% 5% 07/01/39 Page 9 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 544525KF4 LOS ANGELES CA DEPT OF WTR & P 18,000,000 $19,485,720 0.14% 5% 07/01/38 544495L36 LOS ANGELES CA DEPT OF WTR & P 25,000,000 $28,900,250 0.21% 5% 07/01/44 544525KH0 LOS ANGELES CA DEPT OF WTR & P 38,000,000 $40,962,860 0.30% 5% 07/01/44 544525TL2 LOS ANGELES CA DEPT OF WTR & P 50,000,000 $57,800,500 0.42% 5% 07/01/44 544495H64 LOS ANGELES CA DEPT OF WTR & P 51,940,000 $60,043,159 0.44% 5% 07/01/44 544495JU9 LOS ANGELES CA DEPT OF WTR & P 63,435,000 $64,812,808 0.47% 5% 07/01/35 544495D76 LOS ANGELES CA DEPT OF WTR & P 62,000,000 $71,282,020 0.52% 5% 07/01/43 544525QC5 LOS ANGELES CA DEPT OF WTR & P 81,095,000 $91,955,242 0.67% 5% 07/01/43 544552XH0 LOS ANGELES CA HARBOR DEPT REV 10,300,000 $11,909,581 0.09% 5% 08/01/44 54438CLM2 LOS ANGELES CALIF CMNTY COLLEG 20,000,000 $22,828,400 0.17% 5% 08/01/33 54438CHL9 LOS ANGELES CALIF CMNTY COLLEG 21,500,000 $23,861,775 0.17% 5% 08/01/32 54438CKU5 LOS ANGELES CALIF CMNTY COLLEG 25,000,000 $28,535,500 0.21% 5% 08/01/33 544435G79 LOS ANGELES CALIF DEPT ARPTS A 14,000,000 $15,827,140 0.12% 5.25% 05/15/39 544435B25 LOS ANGELES CALIF DEPT ARPTS A 16,000,000 $17,676,160 0.13% 5.125% 05/15/33 544435G61 LOS ANGELES CALIF DEPT ARPTS A 18,500,000 $20,813,240 0.15% 5% 05/15/34 544435K41 LOS ANGELES CALIF DEPT ARPTS A 19,445,000 $21,972,266 0.16% 5% 05/15/40 544435U81 LOS ANGELES CALIF DEPT ARPTS A 80,000,000 $91,044,800 0.67% 5% 05/15/35 544646UM2 LOS ANGELES CALIF UNI SCH DIST 2,250,000 $2,576,722 0.02% 5% 07/01/29 544646TP7 LOS ANGELES CALIF UNI SCH DIST 10,000,000 $11,452,100 0.08% 5% 07/01/29 544644M79 LOS ANGELES CALIF UNI SCH DIST 15,000,000 $15,353,400 0.11% 5% 07/01/30 544646TQ5 LOS ANGELES CALIF UNI SCH DIST 36,760,000 $41,452,414 0.30% 5% 01/01/34 5446523U2 LOS ANGELES CALIF WASTEWTR SYS 25,000,000 $27,567,750 0.20% 5% 06/01/39 545149DT0 LOS ANGELES CNTY CALIF SANTN D 215,000 $221,725 0.00% 5% 10/01/34 545149EX0 LOS ANGELES CNTY CALIF SANTN D 6,000,000 $6,187,680 0.05% 5% 10/01/30 545540DQ6 LOS GATOS-SARATOGA CA JT SCH D 10,635,000 $11,134,632 0.08% 4% 08/01/39 545540DR4 LOS GATOS-SARATOGA CA JT SCH D 16,090,000 $16,739,070 0.12% 4% 08/01/44 556902CG7 MADERA CNTY CALIF CTFS PARTN 8,500,000 $8,510,285 0.06% 5% 03/15/23 556902BJ2 MADERA CNTY CALIF CTFS PARTN 27,500,000 $27,550,050 0.20% 5.75% 03/15/28 601643BX6 MILPITAS CALIF REDEV AGY 5,165,000 $5,303,628 0.04% 5.4% 01/15/17 601643BW8 MILPITAS CALIF REDEV AGY 11,790,000 $13,779,326 0.10% 5.5% 01/15/24 607743JV4 MODESTO CALIF HIGH SCH DIST ST 9,660,000 $8,189,265 0.06% N/A 08/01/21 607743JX0 MODESTO CALIF HIGH SCH DIST ST 10,815,000 $8,421,856 0.06% N/A 08/01/23 607743KB6 MODESTO CALIF HIGH SCH DIST ST 12,770,000 $8,460,380 0.06% N/A 05/01/27 Page 10 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 616871GV5 MORENO VALLEY CALIF UNI SCH DI 6,315,000 $4,502,279 0.03% N/A 08/01/27 616871GW3 MORENO VALLEY CALIF UNI SCH DI 6,625,000 $4,548,857 0.03% N/A 08/01/28 623040FW7 MOUNT SAN ANTONIO CALIF CMNTY 55,000,000 $37,000,700 0.27% N/A 08/01/43 55374SAF7 M-S-R ENERGY AUTH CALIF 25,000,000 $33,999,250 0.25% 6.5% 11/01/39 553751FG8 M-S-R PUB PWR AGY CALIF SAN JU 6,330,000 $7,677,783 0.06% 6% 07/01/22 626904CK0 MURRIETA VALLEY CA USD COP 12,000,000 $12,972,120 0.09% 5.75% 05/01/41 63877NES2 NATOMAS UNI SCH DIST CALIF 16,450,000 $17,391,269 0.13% 5% 08/01/32 640009AM8 NEEDLES CALIF PUB FING AUTH TA 950,000 $951,396 0.01% 7.5% 08/15/22 652113WS6 NEWPORT MESA CALIF UNI SCH DIS 20,000,000 $18,343,200 0.13% N/A 08/01/42 671205B76 OAK GROVE CALIF SCH DIST 36,240,000 $6,721,070 0.05% N/A 06/01/41 672240RD2 OAKLAND CALIF 10,045,000 $11,683,841 0.09% 6.25% 01/15/39 672325TR8 OAKLAND CALIF UNI SCH DIST ALA 7,225,000 $8,241,846 0.06% 6.125% 08/01/29 684421DK3 ORANGE CNTY CALIF WTR DIST CTF 3,305,000 $4,296,929 0.03% 5% 08/15/34 684421DJ6 ORANGE CNTY CALIF WTR DIST CTF 4,140,000 $5,529,549 0.04% 5% 08/15/34 684421BZ2 ORANGE CNTY CALIF WTR DIST CTF 13,740,000 $17,484,150 0.13% 5% 08/15/28 692020E71 OXNARD CA SCH DIST 10,755,000 $10,848,568 0.08% 4% 08/01/44 696716ET2 PALMDALE CALIF CMNTY REDEV AGY 6,980,000 $6,985,025 0.05% 5% 09/01/34 697480AT8 PALO VERDE CALIF CMNTY COLLEGE 21,000,000 $21,645,330 0.16% 5.5% 01/01/37 697511BX0 PALOMAR CALIF CMNTY COLLEGE DI 69,410,000 $53,980,851 0.39% N/A 08/01/39 69753RCY8 PALOMAR POMERADO HEALTH CALIF 36,000,000 $37,006,920 0.27% N/A 08/01/38 69753RDH4 PALOMAR POMERADO HEALTH CALIF 60,000,000 $58,105,200 0.42% N/A 08/01/40 69753LAJ6 PALOMAR POMERADO HEALTH CARE D 30,000,000 $32,128,200 0.23% 6.75% 11/01/39 699211KJ6 PARAMOUNT CALIF UNI SCH DIST 28,000,000 $3,503,080 0.03% N/A 08/01/48 699211KE7 PARAMOUNT CALIF UNI SCH DIST 32,000,000 $6,005,760 0.04% N/A 08/01/43 71437RBQ6 PERRIS CALIF PUB FING AUTH REV 5,000,000 $5,006,800 0.04% 5.75% 10/01/31 714386AT6 PERRIS CALIF SINGLE FAMILY MTG 19,095,000 $15,704,491 0.11% N/A 06/01/23 714392BY2 PERRIS CALIF SPL TAX CFD #91-1 3,350,000 $3,369,128 0.02% 8.75% 09/01/21 725894KG3 PLACENTIA-YORBA LINDA CALIF UN 27,955,000 $7,905,953 0.06% N/A 08/01/43 725894KJ7 PLACENTIA-YORBA LINDA CALIF UN 85,000,000 $17,946,050 0.13% N/A 08/01/49 725894KH1 PLACENTIA-YORBA LINDA CALIF UN 89,200,000 $21,821,888 0.16% N/A 08/01/46 734295BW7 PORT HUENEME CALIF REDEV AGY T 1,695,000 $1,699,152 0.01% 6.5% 05/01/23 738850RH1 POWAY CALIF UNI SCH DIST 45,000,000 $11,008,800 0.08% N/A 08/01/46 74514LVL8 PUERTO RICO COMWLTH GO 10,000,000 $7,279,600 0.05% 5.125% 07/01/28 Page 11 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 74514LVN4 PUERTO RICO COMWLTH GO 10,000,000 $7,395,000 0.05% 6% 07/01/38 745145ZB1 PUERTO RICO COMWLTH GO 10,000,000 $10,521,000 0.08% 5.5% 07/01/20 74514LQC4 PUERTO RICO COMWLTH GO 12,495,000 $13,394,015 0.10% 5.25% 07/01/32 74514LZM2 PUERTO RICO COMWLTH GO 18,980,000 $13,898,674 0.10% 5.5% 07/01/31 74514LYW1 PUERTO RICO COMWLTH GO 20,485,000 $14,753,092 0.11% 5.75% 07/01/41 74514LUR6 PUERTO RICO COMWLTH GO 21,000,000 $21,704,760 0.16% 6% 07/01/27 74514LTW7 PUERTO RICO COMWLTH GO 30,000,000 $21,751,800 0.16% 5.5% 07/01/32 74514LQD2 PUERTO RICO COMWLTH GO 21,200,000 $22,646,688 0.17% 5% 07/01/35 74514LD20 PUERTO RICO COMWLTH GO 27,145,000 $27,150,157 0.20% 5% 07/01/35 74514LBM8 PUERTO RICO COMWLTH GO 68,780,000 $49,158,441 0.36% 5.125% 07/01/31 745190TU2 PUERTO RICO COMWLTH HWY & TRAN 30,000,000 $30,708,300 0.22% 5% 07/01/40 745190TV0 PUERTO RICO COMWLTH HWY & TRAN 30,000,000 $30,708,300 0.22% 5% 07/01/45 745181PF8 PUERTO RICO COMWLTH HWY & TRAN 63,000,000 $67,348,260 0.49% 5% 07/01/36 74526QVC3 PUERTO RICO ELEC PWR AUTH PWR 12,030,000 $6,093,435 0.04% 5% 07/01/28 74526QVX7 PUERTO RICO ELEC PWR AUTH PWR 14,000,000 $7,088,340 0.05% 5.25% 07/01/40 74526QZZ8 PUERTO RICO ELEC PWR AUTH PWR 20,000,000 $10,129,600 0.07% 5% 07/01/29 74526QA28 PUERTO RICO ELEC PWR AUTH PWR 24,000,000 $12,000,960 0.09% 5% 07/01/42 74526QVD1 PUERTO RICO ELEC PWR AUTH PWR 32,250,000 $16,331,077 0.12% 5.25% 07/01/33 74526QA77 PUERTO RICO ELEC PWR AUTH PWR 50,000,000 $25,793,000 0.19% 7% 07/01/33 74527JAC1 PUERTO RICO INDL TOURIST EDL M 6,800,000 $6,534,392 0.05% 6.625% 06/01/26 745220JQ7 PUERTO RICO INFRASTRUCTURE FIN 9,475,000 $5,887,859 0.04% 5% 07/01/46 74528UAP6 PUERTO RICO INFRASTRUCTURE FIN 16,000,000 $11,594,560 0.08% 6% 12/15/26 74528UAM3 PUERTO RICO INFRASTRUCTURE FIN 20,000,000 $13,707,800 0.10% 5.25% 12/15/26 745235B42 PUERTO RICO PUB BLDGS AUTH REV 10,925,000 $7,319,859 0.05% 5% 07/01/37 745235K67 PUERTO RICO PUB BLDGS AUTH REV 10,000,000 $10,284,000 0.08% 6% 07/01/28 745235K59 PUERTO RICO PUB BLDGS AUTH REV 15,000,000 $15,435,750 0.11% 6% 07/01/27 745235VY4 PUERTO RICO PUB BLDGS AUTH REV 26,510,000 $18,298,792 0.13% 5.375% 07/01/33 745235K26 PUERTO RICO PUB BLDGS AUTH REV 21,535,000 $22,243,716 0.16% 6% 07/01/24 745235P70 PUERTO RICO PUB BLDGS AUTH REV 32,840,000 $22,745,640 0.17% 6% 07/01/41 745291UY8 PUERTO RICO PUB FIN CORP 21,000,000 $11,077,500 0.08% 5.5% 08/01/31 74529JHN8 PUERTO RICO SALES TAX FING COR 8,000,000 $6,052,480 0.04% 6% 08/01/42 74529JKK0 PUERTO RICO SALES TAX FING COR 10,000,000 $7,024,500 0.05% 5.375% 08/01/39 74529JKM6 PUERTO RICO SALES TAX FING COR 10,000,000 $7,132,300 0.05% 5.5% 08/01/42 Page 12 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 74529JHL2 PUERTO RICO SALES TAX FING COR 10,000,000 $7,449,600 0.05% 5.75% 08/01/37 74529JAR6 PUERTO RICO SALES TAX FING COR 10,000,000 $7,490,900 0.05% 5.25% 08/01/2057 74529JLL7 PUERTO RICO SALES TAX FING COR 50,000,000 $35,683,500 0.26% 5.5% 08/01/40 74529JHU2 PUERTO RICO SALES TAX FING COR 80,000,000 $61,039,200 0.45% N/A 08/01/32 751551BU5 RAMONA CALIF UNI SCH DIST CTFS 16,000,000 $16,843,520 0.12% 5% 05/01/32 752111AT1 RANCHO CALIF WTR DIST FING AUT 8,605,000 $8,508,796 0.06% N/A 08/15/16 752111AV6 RANCHO CALIF WTR DIST FING AUT 13,605,000 $12,978,897 0.09% N/A 08/15/18 752111AU8 RANCHO CALIF WTR DIST FING AUT 13,605,000 $13,245,283 0.10% N/A 08/15/17 75212YAN1 RANCHO MIRAGE CA JOINT POWERS 11,200,000 $11,526,592 0.08% 5% 07/01/38 75212YAP6 RANCHO MIRAGE CA JOINT POWERS 58,450,000 $60,294,682 0.44% 5% 07/01/47 75524LAT9 RD 17 LEVEE AREA PUB FING AUTH 8,865,000 $10,576,476 0.08% 7% 09/01/39 75728MEH3 REDDING CALIF ELEC SYS REV COP 12,725,000 $12,919,565 0.09% 5% 06/01/35 762494ML3 RIALTO CALIF UNI SCH DIST 9,370,000 $8,388,117 0.06% N/A 06/01/19 762494PX4 RIALTO CALIF UNI SCH DIST 27,000,000 $20,871,540 0.15% N/A 08/01/41 76245EGT5 RIALTO CALIF REDEV AGY TAX ALL 13,525,000 $14,794,050 0.11% 6.25% 09/01/37 76886PDJ9 RIVERSIDE CALIF CMNTY COLLEGE 6,930,000 $7,557,372 0.06% 5% 08/01/32 768874QR3 RIVERSIDE CALIF ELEC REV 10,000,000 $11,231,900 0.08% 5% 10/01/33 768874TP4 RIVERSIDE CALIF ELEC REV 11,535,000 $13,068,347 0.10% 5% 10/01/43 76912DAB4 RIVERSIDE CNTY CA COMMN TOLL R 10,000,000 $11,337,200 0.08% 5.75% 06/01/48 768903BJ4 RIVERSIDE CNTY CALIF ASSET LEA 13,005,000 $9,315,611 0.07% N/A 06/01/24 768903BH8 RIVERSIDE CNTY CALIF ASSET LEA 14,160,000 $10,640,248 0.08% N/A 06/01/23 768901QM5 RIVERSIDE CNTY CALIF CTFS PART 6,345,000 $6,545,121 0.05% 5% 11/01/36 768901QL7 RIVERSIDE CNTY CALIF CTFS PART 9,905,000 $10,254,844 0.07% 5% 11/01/30 769112GZ0 RIVERSIDE CNTY CALIF FLOOD CTL 410,000 $423,587 0.00% 7.875% 09/01/15 769112HA4 RIVERSIDE CNTY CALIF FLOOD CTL 440,000 $474,086 0.00% 7.875% 09/01/16 769112GL1 RIVERSIDE CNTY CALIF FLOOD CTL 475,000 $526,157 0.00% 7.875% 09/01/17 76912TDQ3 RIVERSIDE CNTY CALIF PUB FING 17,500,000 $17,606,925 0.13% 5% 10/01/35 769124EZ7 RIVERSIDE CNTY CALIF SINGLE FA 26,160,000 $21,425,824 0.16% N/A 06/01/23 769124DX3 RIVERSIDE CNTY CALIF SINGLE FA 25,055,000 $21,744,482 0.16% N/A 11/01/20 769125EP6 RIVERSIDE CNTY CALIF TRANSN CO 11,000,000 $12,942,050 0.09% 5.25% 06/01/39 769697EQ2 RNR SCH FING AUTH CALIF SPL TA 10,090,000 $10,662,506 0.08% 5% 09/01/36 773754FU5 ROCKLIN CALIF UNI SCH DIST GO 8,160,000 $5,975,323 0.04% N/A 08/01/25 773754FW1 ROCKLIN CALIF UNI SCH DIST GO 9,080,000 $6,062,262 0.04% N/A 08/01/27 Page 13 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 773754FV3 ROCKLIN CALIF UNI SCH DIST GO 8,695,000 $6,063,545 0.04% N/A 08/01/26 773754FX9 ROCKLIN CALIF UNI SCH DIST GO 16,615,000 $10,571,459 0.08% N/A 08/01/28 773754AW6 ROCKLIN CALIF UNI SCH DIST GO 17,715,000 $17,511,631 0.13% N/A 09/01/16 777807BM9 ROSEVILLE CA ELEC SYSTEM REV C 5,000 $5,005 0.00% 5% 02/01/34 777798FE4 ROSEVILLE CALIF CITY SCH DIST 17,900,000 $15,604,146 0.11% N/A 08/01/17 777849DM9 ROSEVILLE CALIF JT UN HIGH SCH 7,430,000 $6,491,070 0.05% N/A 08/01/17 777849LJ7 ROSEVILLE CALIF JT UN HIGH SCH 8,375,000 $8,606,066 0.06% 5% 08/01/30 777863AT8 ROSEVILLE CALIF NAT GAS FING A 5,000,000 $5,734,800 0.04% 5% 02/15/26 779631DC1 ROWLAND CALIF UNI SCH DIST 17,715,000 $18,829,982 0.14% 5% 08/01/31 785849SZ4 SACRAMENTO CALIF CITY FING AUT 5,740,000 $6,109,828 0.04% 5% 12/01/36 785849SY7 SACRAMENTO CALIF CITY FING AUT 16,915,000 $18,087,209 0.13% 5% 12/01/31 786089GS5 SACRAMENTO CALIF WTR REV 21,630,000 $24,744,936 0.18% 5% 09/01/38 786107MB5 SACRAMENTO CNTY CALIF ARPT SYS 5,000,000 $5,401,950 0.04% 5.75% 07/01/39 786107NQ1 SACRAMENTO CNTY CALIF ARPT SYS 9,000,000 $9,952,200 0.07% 5% 07/01/40 786107JH6 SACRAMENTO CNTY CALIF ARPT SYS 10,000,000 $10,980,500 0.08% 5% 07/01/41 786107JR4 SACRAMENTO CNTY CALIF ARPT SYS 20,000,000 $21,301,400 0.16% 5.25% 07/01/39 786134NG7 SACRAMENTO CNTY CALIF SANTN DI 10,000,000 $10,642,800 0.08% 5% 12/01/30 786134KE5 SACRAMENTO CNTY CALIF SANTN DI 11,900,000 $12,212,375 0.09% 5% 08/01/30 786134UU8 SACRAMENTO CNTY CALIF SANTN DI 13,220,000 $13,920,395 0.10% 5% 12/01/36 786134UP9 SACRAMENTO CNTY CALIF SANTN DI 25,000,000 $28,759,750 0.21% 5% 12/01/44 786134UT1 SACRAMENTO CNTY CALIF SANTN DI 47,875,000 $50,952,405 0.37% 5% 12/01/36 785840EG0 SACRAMENTO FLOOD CTL AGY CONS 8,715,000 $9,475,558 0.07% 5% 10/01/37 796720GH7 SAN BERNARDINO CALIF CMNTY COL 66,390,000 $14,518,165 0.11% N/A 08/01/48 79675NBD8 SAN BERNARDINO CALIF JT PWRS F 6,315,000 $5,949,614 0.04% 5.7% 01/01/23 796815NQ7 SAN BERNARDINO CNTY CALIF CTFS 13,045,000 $13,060,914 0.10% 5% 08/01/26 797043BE5 SAN BUENAVENTURA CA PUB FACS F 10,840,000 $12,271,855 0.09% 5% 01/01/44 797272GR6 SAN DIEGO CALIF CMNTY COLLEGE 26,880,000 $27,267,609 0.20% N/A 08/01/33 797300KC3 SAN DIEGO CALIF REDEV AGY 845,000 $848,312 0.01% 6% 11/01/15 797355JL9 SAN DIEGO CALIF UNI SCH DIST 8,440,000 $6,833,699 0.05% N/A 07/01/22 797355JM7 SAN DIEGO CALIF UNI SCH DIST 11,120,000 $8,637,015 0.06% N/A 07/01/23 797355JK1 SAN DIEGO CALIF UNI SCH DIST 12,160,000 $10,290,643 0.08% N/A 07/01/21 797355P40 SAN DIEGO CALIF UNI SCH DIST 29,840,000 $18,500,800 0.14% N/A 07/01/48 797355R48 SAN DIEGO CALIF UNI SCH DIST 74,270,000 $37,503,379 0.27% N/A 07/01/47 Page 14 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 797355Q49 SAN DIEGO CALIF UNI SCH DIST 79,500,000 $51,791,070 0.38% N/A 07/01/40 797355L44 SAN DIEGO CALIF UNI SCH DIST 104,505,000 $98,920,252 0.72% N/A 07/01/33 797391R50 SAN DIEGO CNTY CALIF CTFS PART 15,000,000 $16,379,100 0.12% 5.125% 07/01/40 79742GAA9 SAN DIEGO CNTY CALIF REGL ARPT 5,645,000 $6,342,891 0.05% 5% 07/01/44 79739GBT2 SAN DIEGO CNTY CALIF REGL ARPT 11,565,000 $13,178,548 0.10% 5% 07/01/27 797400JU3 SAN DIEGO CNTY CALIF REGL TRAN 20,000,000 $23,240,000 0.17% 5% 04/01/48 797400JT6 SAN DIEGO CNTY CALIF REGL TRAN 54,915,000 $64,004,530 0.47% 5% 04/01/44 797415MA1 SAN DIEGO CNTY CALIF WTR AUTH 11,030,000 $11,159,051 0.08% 5% 05/01/34 797415LN4 SAN DIEGO CNTY CALIF WTR AUTH 95,675,000 $97,165,616 0.71% 5% 05/01/34 797661SG1 SAN FRANCISCO CALIF BAY AREA R 28,000,000 $30,878,960 0.23% 5% 08/01/32 79765DRN2 SAN FRANCISCO CALIF CITY & CNT 5,805,000 $5,820,847 0.04% 5% 09/01/31 79765AH82 SAN FRANCISCO CALIF CITY & CNT 7,500,000 $7,814,850 0.06% 4.5% 05/01/28 79766DFF1 SAN FRANCISCO CALIF CITY & CNT 31,000,000 $35,437,650 0.26% 5% 05/01/44 79765RUV9 SAN FRANCISCO CITY & CNTY CA P 5,800,000 $6,533,178 0.05% 5% 11/01/41 79765RXM6 SAN FRANCISCO CITY & CNTY CA P 23,490,000 $26,938,097 0.20% 5% 11/01/36 79765RXP9 SAN FRANCISCO CITY & CNTY CA P 71,735,000 $80,795,847 0.59% 5% 11/01/43 797852DH0 SAN JACINTO CALIF UNI SCH DIST 12,000,000 $12,783,000 0.09% 5.375% 09/01/40 798111BA7 SAN JOAQUIN HILLS CALIF TRANSN 5,700,000 $4,576,701 0.03% N/A 01/01/25 798111DJ6 SAN JOAQUIN HILLS CALIF TRANSN 17,000,000 $17,193,460 0.13% 5.65% 01/15/17 798111DH0 SAN JOAQUIN HILLS CALIF TRANSN 19,500,000 $19,721,715 0.14% 5.6% 01/15/16 798111BD1 SAN JOAQUIN HILLS CALIF TRANSN 33,545,000 $24,325,492 0.18% N/A 01/01/28 798111BE9 SAN JOAQUIN HILLS CALIF TRANSN 37,050,000 $25,708,624 0.19% N/A 01/01/29 798111DL1 SAN JOAQUIN HILLS CALIF TRANSN 57,000,000 $57,649,800 0.42% 5.7% 01/15/19 798111DK3 SAN JOAQUIN HILLS CALIF TRANSN 104,745,000 $69,639,713 0.51% N/A 01/15/37 798111DR8 SAN JOAQUIN HILLS CALIF TRANSN 141,024,000 $93,590,577 0.68% N/A 01/15/42 798111DQ0 SAN JOAQUIN HILLS CALIF TRANSN 141,024,000 $93,655,448 0.68% N/A 01/15/41 798111DM9 SAN JOAQUIN HILLS CALIF TRANSN 140,340,000 $93,705,018 0.68% N/A 01/15/38 798111DP2 SAN JOAQUIN HILLS CALIF TRANSN 158,655,000 $105,440,526 0.77% N/A 01/15/40 798111GJ3 SAN JOAQUIN HILLS CALIF TRANSN 125,000,000 $134,703,750 0.98% 5% 01/15/44 798111GK0 SAN JOAQUIN HILLS CALIF TRANSN 430,000,000 $452,510,500 3.31% 5% 01/15/2050 798136QD2 SAN JOSE CALIF ARPT REV 25,500,000 $27,025,665 0.20% 5% 03/01/37 798153ED0 SAN JOSE CALIF FING AUTH LEASE 14,045,000 $14,087,696 0.10% 5% 09/01/21 798153EE8 SAN JOSE CALIF FING AUTH LEASE 14,730,000 $14,773,453 0.11% 5% 09/01/22 Page 15 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name 798153HB1 SAN JOSE CALIF FING AUTH LEASE 798154GJ3 SAN JOSE CALIF FING AUTH REV 798135UR8 798135VW6 Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 20,885,000 $21,830,046 0.16% 5% 06/01/39 5,000,000 $5,001,950 0.04% 5% 09/01/24 SAN JOSE CALIF GO 11,600,000 $11,635,960 0.09% 5% 09/01/28 SAN JOSE CALIF GO 15,820,000 $15,863,505 0.12% 5% 09/01/34 798135XT1 SAN JOSE CALIF GO 35,150,000 $37,287,120 0.27% 5% 09/01/36 798147G57 SAN JOSE CALIF REDEV AGY TAX A 2,030,000 $2,034,141 0.01% 5.625% 08/01/28 798147PG3 SAN JOSE CALIF REDEV AGY TAX A 7,325,000 $7,331,372 0.05% 5.85% 08/01/27 798147Y24 SAN JOSE CALIF REDEV AGY TAX A 10,000,000 $10,952,400 0.08% 6.5% 08/01/18 798147V50 SAN JOSE CALIF REDEV AGY TAX A 13,395,000 $13,807,833 0.10% 5% 08/01/32 798147X33 SAN JOSE CALIF REDEV AGY TAX A 28,565,000 $31,942,239 0.23% 7% 08/01/35 798180AQ8 SAN JOSE CALIF SPL HOTEL TAX R 10,000,000 $12,226,200 0.09% 6.5% 05/01/42 798180AP0 SAN JOSE CALIF SPL HOTEL TAX R 10,000,000 $12,317,800 0.09% 6.5% 05/01/36 798182EM9 SAN JOSE CALIF UNI SCH DIST CT 7,105,000 $4,862,519 0.04% N/A 01/01/29 798182EK3 SAN JOSE CALIF UNI SCH DIST CT 7,105,000 $5,206,899 0.04% N/A 01/01/27 798306GQ3 SAN JUAN CALIF UNI SCH DIST 15,825,000 $10,472,826 0.08% N/A 08/01/26 798306GS9 SAN JUAN CALIF UNI SCH DIST 19,470,000 $12,387,982 0.09% N/A 08/01/28 798306GR1 SAN JUAN CALIF UNI SCH DIST 18,605,000 $12,421,628 0.09% N/A 08/01/27 798693BR7 SAN LUIS OBISPO CNTY CALIF FIN 12,500,000 $13,623,125 0.10% 5% 09/01/32 79875LAA7 SAN MARCOS CALIF PUB FING AUTH 15,000,000 $19,540,950 0.14% 6.25% 09/02/22 79904ABQ0 SAN MATEO CALIF FLOOD CTL DIST 6,555,000 $6,555,327 0.05% 5% 08/01/39 799017CD8 SAN MATEO CALIF UNIFIED HIGH S 5,000,000 $4,137,350 0.03% N/A 09/01/22 799022CH9 SAN MATEO CALIF UNIFIED HIGH S 11,535,000 $11,685,416 0.09% N/A 12/15/43 799385BJ7 SAN RAMON CALIF PUB FING AUTH 16,810,000 $16,817,396 0.12% 5.3% 02/01/28 799400CJ3 SAN RAMON VALLEY CALIF FIRE PR 5,655,000 $5,968,060 0.04% 5% 08/01/36 799408M30 SAN RAMON VALLEY CALIF UNI SCH 14,770,000 $15,831,815 0.12% 5% 08/01/28 800851LF2 SANGER CALIF UNI SCH DIST GO 5,000,000 $5,458,850 0.04% 5% 08/01/27 801095LF5 SANTA ANA CALIF REDEV AGY 7,005,000 $8,552,334 0.06% 6.25% 09/01/24 801095LK4 SANTA ANA CALIF REDEV AGY 13,500,000 $16,605,540 0.12% 6.75% 09/01/28 801286AC9 SANTA BARBARA CALIF HSG AUTH R 2,690,000 $2,684,539 0.02% 6.25% 11/15/20 801642BA6 SANTA CLARA CNTY CALIF FING AU 20,000,000 $21,469,000 0.16% 5.125% 02/01/41 801686KY1 SANTA CLARITA CALIF CMNTY COLL 9,765,000 $10,620,609 0.08% 5% 08/01/32 801825GE4 SANTA CRUZ CNTY CALIF REDEV AG 5,000,000 $5,848,050 0.04% 7% 09/01/36 802309ME1 SANTA MARIA CALIF JT UN HIGH S 14,230,000 $14,456,257 0.11% 4% 08/01/37 Page 16 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 802861BQ6 SANTEE CALIF SCH DIST COP 15,460,000 $16,272,732 0.12% 5.5% 10/01/48 804226MJ4 SAUGUS CALIF UN SCH DIST 5,000,000 $5,137,950 0.04% 5% 08/01/29 807847BD9 SCHOOL FACS FING AUTH CALIF RE 49,000,000 $12,709,620 0.09% N/A 08/01/42 81888PAQ4 SHAFTER JOINT POWERS FING AUTH 2,795,000 $2,806,068 0.02% 6.05% 01/01/17 83342FAR0 SNOWLINE CALIF JT UNI SCH DIST 1,615,000 $1,615,565 0.01% 5.3% 09/01/29 83342FAS8 SNOWLINE CALIF JT UNI SCH DIST 2,000,000 $2,000,660 0.01% 5.4% 09/01/34 835525DQ6 SONOMA CALIF CMNTY DEV AGY 10,775,000 $12,866,858 0.09% 7.125% 12/01/36 842471AY0 SOUTHERN CALIF PUB PWR AUTH NA 17,500,000 $20,616,050 0.15% 5% 11/01/33 842477QA2 SOUTHERN CALIF PUB PWR AUTH TR 1,135,000 $1,139,449 0.01% 6.125% 07/01/18 84250UAV6 SOUTHERN CALIF WATER REPLENISH 12,870,000 $13,892,006 0.10% 5% 08/01/41 861431AN4 STOCKTON-EAST WTR DIST CALIF C 103,885,000 $99,802,319 0.73% N/A 04/01/16 870462QJ0 SWEETWATER CALIF UN HIGH SCH D 10,000,000 $11,049,800 0.08% 5.625% 08/01/47 879828KP5 TEMPLE CITY CA UNIF SCH DIST 10,000,000 $10,870,400 0.08% 5% 08/01/43 891368DD1 TORRANCE CALIF HOSP REV 4,385,000 $4,396,225 0.03% 5.5% 06/01/31 89234VAP7 TRABUCO CANYON CALIF PUB FING 585,000 $591,850 0.00% 6.1% 10/01/15 89234WAP5 TRABUCO CANYON PFA WATER & SEW 3,940,000 $4,247,398 0.03% 6.1% 07/01/19 899141AT2 TULARE CNTY CA BRD OF EDU COPS 10,855,000 $11,940,500 0.09% 5.5% 05/01/43 90141PAU9 TWIN CITIES POLICE AUTH CALIF 10,710,000 $12,866,672 0.09% 6% 08/01/44 91412FK63 UNIVERSITY CALIF REVS 3,710,000 $3,713,042 0.03% 5% 05/15/34 91412FT80 UNIVERSITY CALIF REVS 7,750,000 $8,218,487 0.06% 5% 05/15/41 91412FT72 UNIVERSITY CALIF REVS 10,000,000 $10,621,400 0.08% 5% 05/15/37 913366AV2 UNIVERSITY CALIF REVS 54,085,000 $54,873,559 0.40% 4.5% 05/15/47 913366GG9 UNIVERSITY CALIF REVS 75,000,000 $83,490,750 0.61% 5% 05/15/48 915346FH8 UPLAND CALIF CTFS PARTN 34,130,000 $40,276,471 0.29% 6.5% 01/01/41 91537PFB6 UPLAND CALIF UNI SCH DIST 62,900,000 $15,246,960 0.11% N/A 08/01/45 918571AA8 VACAVILLE CALIF PUB FING AUTH 2,070,000 $2,049,320 0.01% 8.65% 09/02/18 918608NG1 VACAVILLE CALIF UNI SCH DIST 7,790,000 $8,645,731 0.06% 5% 08/01/32 919213CY2 VALLEJO CALIF HIDDENBROOKE IMP 4,090,000 $4,095,930 0.03% 5.8% 09/01/31 919222AX7 VALLEJO CALIF REDEV AGY TAX AL 1,230,000 $1,234,563 0.01% 7.9% 05/01/19 926055GW8 VICTOR VALLEY CALIF JT UN HIGH 28,350,000 $30,918,226 0.23% 5% 08/01/34 927676NS1 VIRGIN ISLANDS PUB FIN AUTH RE 10,000,000 $11,529,000 0.08% 6.75% 10/01/37 92830TCY3 VISTA CALIF CMNTY DEV COMMN TA 5,000,000 $5,000,500 0.04% 5.875% 09/01/37 928346MQ5 VISTA CALIF UNI SCH DIST 2,000,000 $2,181,600 0.02% 5% 08/01/28 Page 17 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date 940204AT7 WASHINGTON TWP CALIF HEALTH CA 6,500,000 $6,513,260 0.05% 5.25% 07/01/29 940204BS8 WASHINGTON TWP CALIF HEALTH CA 7,000,000 $7,288,540 0.05% 5% 07/01/37 940204CS7 WASHINGTON TWP CALIF HEALTH CA 11,000,000 $11,811,140 0.09% 5.5% 07/01/38 953544CU5 WEST KERN CMNTY COLLEGE DIST C 11,035,000 $12,112,126 0.09% 5.625% 11/01/34 955627BK9 WEST SACRAMENTO CALIF AREA FLO 9,030,000 $9,887,308 0.07% 5.25% 09/01/41 955641DD4 WEST SACRAMENTO CALIF FING AUT 5,000,000 $5,727,500 0.04% 5% 09/01/34 959215BV5 WESTERN PLACER CALIF UNI SCH C 10,275,000 $10,707,783 0.08% 5.125% 08/01/47 960557CS3 WESTLANDS CALIF WTR DIST REV C 5,910,000 $5,944,632 0.04% 5% 09/01/35 960557CR5 WESTLANDS CALIF WTR DIST REV C 6,250,000 $6,288,062 0.05% 5% 09/01/30 960557DS2 WESTLANDS CALIF WTR DIST REV C 7,490,000 $7,963,218 0.06% 5% 09/01/31 960621BB5 WESTMINSTER CALIF SCH DIST 18,980,000 $20,784,618 0.15% 5% 08/01/34 98839YAW6 YUCAIPA VALLEY CALIF WTR DIST 10,100,000 $10,109,090 0.07% 5% 09/01/29 98839YAX4 YUCAIPA VALLEY CALIF WTR DIST 12,765,000 $12,774,063 0.09% 5% 09/01/34 Page 18 of 19 Portfolio Holdings for Franklin California Tax-Free Income Fund, Inc. as of December 31, 2014 Security Identifier Security Name Shares/ Positions Held Market Value % of TNA Coupon Maturity Rate Date Important Legal Information • • Portfolio holdings are subject to change without notice and may not represent current or future portfolio composition. The portfolio data is “as of” the date indicated and we disclaim any responsibility to update the information. The net market value of all currency forward contracts is included in cash and other net assets, reflected in the base currency of the fund. The net market value of any Credit Default, Interest Rate and/or other Swap contract positions are displayed as exposure to the issuing counterparty (i.e. "Citibank"). • Unlike the fund’s regulatory filings, the portfolio data and its presentation in this document are not required to conform to Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) presentation requirements. Therefore, it differs from that in the complete statement of investments in the annual and semiannual report to shareholders filed with the SEC on Form N-CSR, and the complete statement of investments provided in the first and third quarter SEC Form N-Q filings for each fiscal year. • The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or a recommendation to buy or sell securities or other investments. • Investors should carefully consider a fund's investment goals, risks, charges and expenses before investing. To obtain a prospectus, which contains this and other information, talk to your financial advisor, call us at 1-800/DIAL BEN (1-800/342-5236) or visit our website at franklintempleton.com. Please read the prospectus carefully before investing. Franklin Templeton Distributors Inc., One Franklin Parkway, San Mateo, CA 94403. Copyright. 2011-2012. Franklin Templeton Investments ©. All rights reserved. Page 19 of 19
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