UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-21187 PIMCO Municipal Income Fund III ------------------------------------------------- (Exact name of registrant as specified in charter) 1345 Avenue of the Americas, New York, NY 10105 ------------------------------------------------- (Address of principal executive offices) (Zip code) Allianz Global Investors Fund Management LLC 1345 Avenue of the Americas, New York, NY 10105 ---------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: 212-739-3000 Date of fiscal year end: September 30 Date of reporting period: July 1, 2005 - June 30, 2006 Item 1. Proxy Voting Record ----------------------------------------------------------------------- PIMCO Municipal Income Fund III Form N-PX Proxy Voting Record-Item 1 7/1/05-6/30/06 -------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------- Security Exchange Holder Ticker Meeting Security Issuer Name Symbol Cusip or Isin Date Matter Voted On ----------------------------------------------------------------------------------------------------------------------- NJ HLTH-PASCACK VALLEY HOSP REV N/A 64579E8B5 N/A Consent to the proposed amendments in the Indenture --------------------------------------- ----------- ----------- --------- --------------------------------------------- NJ HLTH-PASCACK VALLEY HOSP REV NA 64579E8B5 NA Consent to the proposed amendments --------------------------------------- ----------- ----------- --------- --------------------------------------------- -------------------------------------------------------------------------------------- Vote Cast Proposal by Voting "For" or Issuer or Result: For, "Against" Security Vote Against, Management Security Issuer Name Holder Cast(Y/N?) Abstain or "Abstain" --------------------------------------------------------------------------------------- NJ HLTH-PASCACK VALLEY HOSP REV Issuer Y For For ------------------------------------- ----------- ----------- ----------- ------------- NJ HLTH-PASCACK VALLEY HOSP REV Issuer Y For For ------------------------------------- ----------- ----------- ----------- ------------- SIGNATURES Pursuant to the requirements of 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. (Registrant) PIMCO Municipal Income Fund III By (Signature and Title)* /s/ Thomas J. Fuccillo --------------------------- Thomas J. Fuccillo, Secretary Date August 28, 2006