NEW YORK, Feb. 7, 2019 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. ("ACMIF" – NYSE: AKP) announced today that its Board of Directors has unanimously approved the liquidation and dissolution of ACMIF, subject to stockholder approval. Based on the recommendation of AllianceBernstein L.P., its investment adviser, the Board of Directors of the Fund believes that liquidation of the Fund is in the best interests of the Fund.
It is anticipated that the Plan of Liquidation and Dissolution will be submitted to ACMIF's stockholders at a special meeting to be called for that purpose on April 26, 2019. The close of business on February 19, 2019 has been fixed as the record date for the special meeting of stockholders.
ACMIF is a closed-end U.S.-registered management investment company advised by AllianceBernstein L.P.