Delaware Tax-Free Colorado Fund

Holdings as of 07/30/2010 (all share classes)

Portfolio holdings are as of the date noted above and are subject to change at any time. Holdings may not be representative of current or future investments and may not include the entire investment portfolio. Holdings information is made available to the public 30 calendar days after the most recent quarter-end.

Holdings data is for informational purposes only, and is not intended as a recommendation, offer, or solicitation for the purchase or sale of any specific security. By accessing the portfolio holdings, you agree not to reproduce, distribute or disseminate the portfolio holdings, in whole or part. In no event shall the Delaware Family of Funds or its affiliates have any liability relating to the use of the portfolio holdings.

Unlike the Fund's regulatory filings, the portfolio data and its presentation in this document is not required to conform to Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) presentation requirements. Therefore, it may differ from that provided in the complete portfolio of investments in the annual and semiannual report to shareholders filed with the SEC on Form N-CSR, and the complete portfolio of investments filed in the first and third quarter on Form N-Q.

SEC description	# Holdings	Portfolio %	Market value	Income rate	Maturity date	Nasdaq symbol
ADAMS & ARAPAHOE CNTYS COLO JT	2,500,000.00	1.18	$2,943,425.00	6.00	12/01/2028	ADASCD
ARAPAHOE CNTY COLO WTR & WASTE	2,555,000.00	1.03	$2,569,614.60	5.12	12/01/2032	ARAUTL
ASPEN COLO SALES TAX REV	2,040,000.00	0.89	$2,221,376.40	5.25	11/01/2023	ASPGEN
AURORA COLO CTFS PARTN	2,370,000.00	1.00	$2,499,117.60	5.00	12/01/2030	AURCTF
AURORA COLO HOSP REV	2,000,000.00	0.80	$2,004,480.00	5.00	12/01/2040	AURMED
AURORA COLO HOSP REV	2,775,000.00	1.20	$2,982,348.00	5.00	12/01/2023	AURMED
BAPTIST RD RURAL TRANSN AUTH	2,000,000.00	0.54	$1,332,100.00	5.00	12/01/2026	BAPTRN
BOULDER CNTY COLO DEV REV	1,000,000.00	0.40	$1,003,880.00	5.00	09/01/2033	BOUDEV
BOULDER CNTY COLO DEV REV	1,000,000.00	0.41	$1,010,770.00	5.00	09/01/2035	BOUDEV
BOULDER LARIMER & WELD CNTYS C	2,500,000.00	1.06	$2,624,550.00	5.00	12/15/2033	BOUSCD
CASH	72,439.61	0.03	$72,439.61	0.00	12/15/2038	US-CASH
COLORADO EDL & CULTURAL FACS	1,000,000.00	0.38	$955,840.00	5.00	04/01/2028	COSEDU
COLORADO EDL & CULTURAL FACS	1,960,000.00	0.78	$1,930,737.20	5.25	12/01/2034	COSEDU
COLORADO EDL & CULTURAL FACS	2,000,000.00	0.80	$2,000,000.00	0.26	05/01/2037	COSEDU
COLORADO EDL & CULTURAL FACS	2,000,000.00	0.81	$2,018,600.00	5.25	06/01/2021	COSEDU
COLORADO EDL & CULTURAL FACS	2,000,000.00	0.87	$2,164,260.00	6.12	01/15/2031	COSEDU
COLORADO EDL & CULTURAL FACS	2,000,000.00	0.92	$2,295,580.00	6.12	05/01/2033	COSEDU
COLORADO EDL & CULTURAL FACS	2,170,000.00	0.85	$2,112,234.60	5.00	06/01/2033	COSEDU
COLORADO EDL & CULTURAL FACS	2,280,000.00	0.92	$2,298,217.20	5.50	05/01/2036	COSEDU
COLORADO EDL & CULTURAL FACS	2,740,000.00	1.09	$2,712,216.40	5.12	12/01/2033	COSEDU
COLORADO EDL & CULTURAL FACS	4,000,000.00	1.54	$3,844,640.00	5.12	07/01/2037	COSEDU
COLORADO EDL & CULTURAL FACS	5,000,000.00	2.16	$5,365,600.00	5.00	03/01/2027	COSEDU
COLORADO EDL & CULTURAL FACS	5,590,000.00	2.25	$5,598,440.90	6.12	07/15/2032	COSEDU
COLORADO HEALTH FACS AUTH REV	75,000.00	0.04	$90,562.50	5.12	11/15/2024	COSMED
COLORADO HEALTH FACS AUTH REV	1,000,000.00	0.40	$1,001,530.00	4.75	09/01/2040	COSMED
COLORADO HEALTH FACS AUTH REV	1,000,000.00	0.40	$1,002,940.00	5.00	09/01/2025	COSMED
COLORADO HEALTH FACS AUTH REV	1,000,000.00	0.41	$1,015,090.00	5.50	05/15/2028	COSMED
COLORADO HEALTH FACS AUTH REV	1,375,000.00	0.57	$1,424,596.25	5.12	11/15/2024	COSMED
COLORADO HEALTH FACS AUTH REV	1,500,000.00	0.53	$1,329,555.00	5.75	01/01/2037	COSMED
COLORADO HEALTH FACS AUTH REV	2,000,000.00	0.75	$1,857,620.00	5.00	06/01/2035	COSMED
COLORADO HEALTH FACS AUTH REV	2,000,000.00	0.89	$2,225,780.00	6.25	10/01/2033	COSMED
COLORADO HEALTH FACS AUTH REV	2,500,000.00	1.02	$2,544,925.00	5.00	07/01/2039	COSMED
COLORADO HEALTH FACS AUTH REV	2,750,000.00	1.07	$2,652,017.50	5.25	06/01/2034	COSMED
COLORADO HEALTH FACS AUTH REV	3,475,000.00	1.40	$3,495,120.25	5.80	01/15/2027	COSMED
COLORADO HEALTH FACS AUTH REV	5,000,000.00	1.85	$4,593,850.00	5.50	12/01/2033	COSMED
COLORADO HEALTH FACS AUTH REV	5,000,000.00	2.03	$5,051,750.00	6.00	01/20/2036	COSMED
COLORADO HEALTH FACS AUTH REV	5,000,000.00	2.17	$5,405,100.00	5.50	03/01/2032	COSMED
COLORADO HEALTH FACS AUTH REV	5,250,000.00	2.16	$5,363,452.50	6.12	06/01/2038	COSMED
COLORADO HSG & FIN AUTH	1,500,000.00	0.64	$1,595,145.00	5.50	11/01/2029	COSHSG
COLORADO HSG & FIN AUTH	1,590,000.00	0.64	$1,591,415.10	6.15	10/01/2041	COSHSG
COLORADO SCH MINES AUX FACS RE	425,000.00	0.17	$426,177.25	5.00	12/01/2037	COSFAC
COLORADO SPRINGS COLO HOSP REV	2,500,000.00	1.08	$2,688,800.00	6.25	12/15/2033	CSPMED
COLORADO SPRINGS COLO UTILS	3,250,000.00	1.39	$3,461,737.50	5.50	11/15/2048	CSPUTL
COLORADO SPRINGS COLO UTILS RE	5,000,000.00	2.07	$5,151,900.00	5.00	11/15/2029	CSPUTL
COLORADO ST BOARD GOVERNORS UN	2,300,000.00	0.97	$2,414,494.00	5.00	03/01/2039	COSHGR
CONEJOS & ALAMOSA CNTYS COLO S	355,000.00	0.14	$356,540.70	6.50	04/01/2011	CONEDU
DELTA CNTY COLO MEM HOSP DIST	4,000,000.00	1.63	$4,062,840.00	5.35	09/01/2017	DELMED
DENVER COLO CITY & CNTY	1,020,000.00	0.47	$1,166,033.40	5.00	08/01/2019	DEN
DENVER COLO CITY & CNTY	2,000,000.00	0.98	$2,429,160.00	5.50	08/01/2016	DEN
DENVER COLO CITY & CNTY ARPT	2,500,000.00	1.05	$2,614,825.00	5.25	11/15/2036	DENAPT
DENVER COLO CITY & CNTY ARPT R	2,000,000.00	0.85	$2,109,600.00	5.00	11/15/2025	DENAPT
DENVER COLO CITY & CNTY ARPT R	4,000,000.00	1.61	$4,012,920.00	5.00	11/15/2033	DENAPT
DENVER COLO CITY & CNTY SCH DI	960,000.00	0.42	$1,032,297.60	5.00	12/01/2029	DENSCD
DENVER COLO HEALTH & HOSP AUTH	1,500,000.00	0.50	$1,253,250.00	4.75	12/01/2036	DENMED
DENVER COLO HEALTH & HOSP AUTH	2,500,000.00	1.00	$2,483,575.00	5.62	12/01/2040	DENMED
DENVER WEST MET DIST COLO	1,400,000.00	0.51	$1,259,286.00	5.00	12/01/2033	DENFAC
DOUGLAS CNTY COLO SCH DIST NO	2,000,000.00	0.89	$2,220,920.00	5.12	12/15/2025	DOUSCD
DOUGLAS CNTY COLO SCH DIST NO	2,355,000.00	1.04	$2,592,760.80	5.00	12/15/2024	DOUSCD
DREYFUS TAX EXEMPT CASH MANAGE	519,148.85	0.21	$519,148.85	0.15	08/02/2010	080210DRE
EAGLE RIV COLO WTR & SAN DIST	250,000.00	0.11	$266,097.50	5.00	12/01/2029	ELRUTL
EAGLE RIV COLO WTR & SAN DIST	850,000.00	0.36	$884,816.00	5.12	12/01/2039	ELRUTL
EL PASO CNTY COLO CTFS PARTN	1,500,000.00	0.63	$1,566,585.00	5.00	12/01/2027	ELPCTF
EL PASO CNTY COLO SCH DIST NO	2,115,000.00	0.89	$2,220,559.65	5.00	12/01/2027	ELPSCD
FREMONT CNTY COLO SCH DIST NO	1,735,000.00	0.80	$1,986,817.90	5.00	12/01/2024	FRESCD
GARFIELD CNTY COLO SCH DIST RE	1,000,000.00	0.44	$1,104,990.00	5.00	12/01/2025	GARSCD
GARFIELD CNTY COLO SCH DIST RE	2,280,000.00	1.00	$2,500,567.20	5.00	12/01/2025	GARSCD
GARFIELD PITKIN & EAGLE CNTYS	1,500,000.00	0.70	$1,751,505.00	5.00	12/15/2027	GARSCD
GRAND CNTY COLO SCH DIST NO 00	2,485,000.00	1.10	$2,737,078.40	5.25	12/01/2025	GRDSCD
GUAM GOVT	2,500,000.00	1.09	$2,714,750.00	7.00	11/15/2039	GMSFAC
GUNNISON WATERSHED COLO SCH DI	1,400,000.00	0.60	$1,501,388.00	5.25	12/01/2033	GUNSCD
JEFFERSON CNTY COLO SCH DIST N	2,500,000.00	1.21	$3,013,175.00	5.25	12/15/2024	JEFSCD
LA PLATA CNTY COLO SCH DIST NO	1,000,000.00	0.43	$1,078,160.00	5.12	11/01/2024	LAPSCD
LINCOLN PK COLO MET DIST	2,500,000.00	1.11	$2,755,600.00	7.75	12/01/2026	LINFAC
LONG TERM RECEIVABLES	-479,258.75	-0.19	-$479,258.75	0.00	N/A	SECNCAHUS
NORTH RANGE MET DIST NO 1 COLO	1,500,000.00	0.34	$846,510.00	4.50	12/15/2031	NRTGEN
NORTH RANGE MET DIST NO 1 COLO	3,385,000.00	1.48	$3,685,926.50	7.25	12/15/2031	NRTGEN
NORTH RANGE MET DIST NO 2 COLO	1,200,000.00	0.38	$933,936.00	5.50	12/15/2037	NRTGEN
PARK MEADOWS BUSINESS IMPT	720,000.00	0.25	$626,580.00	5.35	12/01/2031	PKMGEN
PARK MEADOWS BUSINESS IMPT	950,000.00	0.34	$853,347.00	5.30	12/01/2027	PKMGEN
PLATTE RIV PWR AUTH COLO PWR R	2,355,000.00	1.03	$2,569,917.30	5.00	06/01/2029	PLAPWR
PLATTE RIV PWR AUTH COLO PWR R	2,795,000.00	1.24	$3,092,136.45	5.00	06/01/2027	PLAPWR
PUBLIC AUTH FOR COLO ENERGY	2,500,000.00	1.10	$2,728,650.00	6.50	11/15/2038	PUBUTL
PUEBLO COLO BRD WTRWKS WTR REV	1,000,000.00	0.44	$1,090,390.00	5.00	11/01/2021	PUEWTR
PUERTO RICO COMWLTH	190,000.00	0.07	$185,626.20	5.00	07/01/2035	PRC
PUERTO RICO COMWLTH	765,000.00	0.31	$772,902.45	5.25	07/01/2030	PRC
PUERTO RICO COMWLTH	1,235,000.00	0.60	$1,495,980.20	5.25	07/01/2030	PRC
PUERTO RICO COMWLTH	1,650,000.00	0.72	$1,795,035.00	5.25	07/01/2015	PRC
PUERTO RICO COMWLTH	1,685,000.00	0.72	$1,790,649.50	6.00	07/01/2039	PRC
PUERTO RICO COMWLTH	4,000,000.00	1.63	$4,059,760.00	5.25	07/01/2021	PRC
PUERTO RICO COMWLTH GOVT DEV B	1,000,000.00	0.43	$1,078,500.00	5.00	12/01/2015	PRCDEV
PUERTO RICO COMWLTH HWY & TRAN	4,700,000.00	1.88	$4,673,398.00	5.00	07/01/2030	745190TR9
PUERTO RICO COMWLTH INFRASTRUC	1,200,000.00	0.46	$1,152,252.00	5.00	07/01/2046	PRCFAC
PUERTO RICO ELEC PWR AUTH PWR	525,000.00	0.21	$516,206.25	5.00	07/01/2037	74526QKX9
PUERTO RICO ELEC PWR AUTH PWR	1,000,000.00	0.41	$1,024,770.00	5.50	07/01/2038	PRCPWR
PUERTO RICO ELEC PWR AUTH PWR	2,400,000.00	0.97	$2,424,120.00	5.00	07/01/2028	PRCPWR
PUERTO RICO ELEC PWR AUTH PWR	2,500,000.00	1.02	$2,525,900.00	5.25	07/01/2040	PRCPWR
PUERTO RICO ELEC PWR AUTH PWR	3,500,000.00	1.47	$3,652,495.00	5.25	07/01/2026	PRCPWR
PUERTO RICO HSG FIN AUTH	2,040,000.00	0.83	$2,065,398.00	5.12	12/01/2027	PRCHSG
PUERTO RICO PUB BLDGS AUTH REV	25,000.00	0.01	$28,922.25	5.25	07/01/2033	PRCFAC
PUERTO RICO PUB BLDGS AUTH REV	1,000,000.00	0.43	$1,073,600.00	5.50	07/01/2035	PRCFAC
PUERTO RICO PUB BLDGS AUTH REV	1,475,000.00	0.59	$1,475,191.75	5.25	07/01/2033	PRCFAC
PUERTO RICO SALES TAX FING	1,100,000.00	0.46	$1,147,685.00	5.25	08/01/2027	PRCGEN
PUERTO RICO SALES TAX FING	1,900,000.00	0.83	$2,057,453.00	6.00	08/01/2039	PRCGEN
PUERTO RICO SALES TAX FING	2,500,000.00	1.05	$2,619,500.00	5.00	08/01/2039	PRCGEN
PUERTO RICO SALES TAX FING	2,620,000.00	1.10	$2,749,428.00	5.75	08/01/2037	PRCGEN
PUERTO RICO SALES TAX FING	5,075,000.00	1.68	$4,186,012.25	0.00	08/01/2032	PRCGEN
REGIONAL TRANSN DIST COLO SALE	2,000,000.00	0.96	$2,400,340.00	5.25	11/01/2018	REGTRN
SAND CREEK MET DIST COLO	500,000.00	0.18	$449,665.00	5.00	12/01/2031	SCKFAC
SECURITIZED NET CASH - ACR1	2,422,898.07	0.97	$2,422,898.07	0.00	N/A	SECCASHAC
UNIVERSITY COLO ENTERPRISE SYS	1,000,000.00	0.42	$1,042,990.00	5.38	06/01/2026	UCOHGR
UNIVERSITY COLO ENTERPRISE SYS	2,000,000.00	0.84	$2,093,000.00	5.00	06/01/2030	UCOHGR
UNIVERSITY COLO HOSP AUTH REV	2,460,000.00	1.05	$2,620,121.40	6.00	11/15/2029	UCOMED
UNIVERSITY COLO HOSP AUTH REV	2,690,000.00	1.06	$2,631,008.30	5.00	11/15/2037	UCOMED
UNIVERSITY COLO HOSP AUTH REV	3,500,000.00	1.42	$3,527,510.00	5.25	11/15/2039	914174BM8
UNIVERSITY P R UNIV REVS	2,750,000.00	1.06	$2,651,302.50	5.00	06/01/2036	UNIHGR
VIRGIN ISLANDS PUB FIN AUTH RE	2,000,000.00	0.80	$1,980,540.00	5.00	10/01/2031	VITGEN
WELD CNTY COLO SCH DIST NO	1,085,000.00	0.51	$1,263,612.70	5.00	12/01/2019	WELSCD