Eaton Vance California Municipal Bond Fund is a non-diversified, closed-end management investment company. The Fund's investment objective is to provide current income exempt from federal income tax, including alternative minimum tax (AMT) and California personal income tax. The Funds may invest in residual interest bonds, also referred to as inverse floating rate securities, whereby it may sell a variable or fixed rate bond for cash to a Special-Purpose Vehicle (the SPV), while at the same time, buying a residual interest in the assets and cash flows of the SPV. The Fund invests primarily in debt securities issued by California municipalities. The Fund's investment portfolio includes various sectors, such as water and sewer, healthcare-acute, education, insured escrowed, insured public power and special tax. Eaton Vance Management is the investment advisor for the Fund.