0000844779-17-000402.txt : 20171030
0000844779-17-000402.hdr.sgml : 20171030
20171030113320
ACCESSION NUMBER: 0000844779-17-000402
CONFORMED SUBMISSION TYPE: NSAR-B
PUBLIC DOCUMENT COUNT: 6
CONFORMED PERIOD OF REPORT: 20170831
FILED AS OF DATE: 20171030
DATE AS OF CHANGE: 20171030
EFFECTIVENESS DATE: 20171030
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST
CENTRAL INDEX KEY: 0001181024
IRS NUMBER: 816105964
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0831
FILING VALUES:
FORM TYPE: NSAR-B
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-21179
FILM NUMBER: 171161207
BUSINESS ADDRESS:
STREET 1: 100 BELLEVUE PARKWAY
STREET 2: MUTUAL FUND DEPARTMENT
CITY: WILMINGTON
STATE: DE
ZIP: 19809
BUSINESS PHONE: 888-825-2257
MAIL ADDRESS:
STREET 1: 100 BELLEVUE PARKWAY
STREET 2: MUTUAL FUND DEPARTMENT
CITY: WILMINGTON
STATE: DE
ZIP: 19809
FORMER COMPANY:
FORMER CONFORMED NAME: BLACKROCK NEW YORK INSURED MUNICIPAL INCOME TRUST
DATE OF NAME CHANGE: 20020904
FORMER COMPANY:
FORMER CONFORMED NAME: BLACKROCK NEW YORK MUNICIPAL INCOME TRUST III
DATE OF NAME CHANGE: 20020816
NSAR-B
1
answer.fil
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PAGE 2
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PAGE 3
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SIGNATURE NEAL J. ANDREWS
TITLE CFO
EX-99.77B ACCT LTTR
2
77bMuni8.txt
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
TO THE SHAREHOLDERS AND BOARD OF DIRECTORS OF BLACKROCK MUNIHOLDINGS NEW YORK
QUALITY FUND, INC., AND TO THE SHAREHOLDERS AND BOARD OF TRUSTEES OF BLACKROCK
MARYLAND MUNICIPAL BOND TRUST, BLACKROCK MASSACHUSETTS TAX-EXEMPT TRUST,
BLACKROCK NEW JERSEY MUNICIPAL BOND TRUST, BLACKROCK NEW YORK MUNICIPAL BOND
TRUST, BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST, BLACKROCK NEW YORK
MUNICIPAL INCOME TRUST II, AND BLACKROCK VIRGINIA MUNICIPAL BOND TRUST:
In planning and performing our audits of the financial statements of BlackRock
MuniHoldings New York Quality Fund, Inc., BlackRock Maryland Municipal Bond
Trust, BlackRock Massachusetts Tax-Exempt Trust, BlackRock New Jersey Municipal
Bond Trust, BlackRock New York Municipal Bond Trust, BlackRock New York
Municipal Income Quality Trust, BlackRock New York Municipal Income Trust II,
and BlackRock Virginia Municipal Bond Trust (collectively the "Trusts"), as of
and for the year ended August 31, 2017, in accordance with the standards of the
Public Company Accounting Oversight Board (United States), we considered the
Trusts' internal control over financial reporting, including controls over
safeguarding securities, as a basis for designing our auditing procedures for
the purpose of expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, but not for the purpose of expressing an
opinion on the effectiveness of the Trusts' internal control over financial
reporting. Accordingly, we express no such opinion.
The management of the Trusts is responsible for establishing and maintaining
effective internal control over financial reporting. In fulfilling this
responsibility, estimates and judgments by management are required to assess
the expected benefits and related costs of controls. A trust's internal control
over financial reporting is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally
accepted accounting principles. A trust's internal control over financial
reporting includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the trust;
(2) provide reasonable assurance that transactions are recorded as necessary to
permit preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures of the trust
are being made only in accordance with authorizations of management and the
trustees of the trust; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use, or disposition
of a trust's assets that could have a material effect on the financial
statements.
Because of its inherent limitations, internal control over financial reporting
may not prevent or detect misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may
become inadequate because of changes in conditions or that the degree of
compliance with the policies or procedures may deteriorate.
A deficiency in internal control over financial reporting exists when the
design or operation of a control does not allow management or employees, in the
normal course of performing their assigned functions, to prevent or detect
misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial reporting, such
that there is a reasonable possibility that a material misstatement of the
Trusts' annual or interim financial statements will not be prevented or
detected on a timely basis.
Our consideration of the Trusts' internal control over financial reporting was
for the limited purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal control that might be
material weaknesses under standards established by the Public Company
Accounting Oversight Board (United States). However, we noted no deficiencies
in the Trusts' internal control over financial reporting and their operation,
including controls for safeguarding securities that we consider to be a
material weakness, as defined above, as of August 31, 2017.
This report is intended solely for the information and use of management and
the Board of Directors of BlackRock MuniHoldings New York Quality Fund, Inc.,
and the Board of Trustees of BlackRock Maryland Municipal Bond Trust, BlackRock
Massachusetts Tax-Exempt Trust, BlackRock New Jersey Municipal Bond Trust,
BlackRock New York Municipal Bond Trust, BlackRock New York Municipal Income
Quality Trust, BlackRock New York Municipal Income Trust II, and BlackRock
Virginia Municipal Bond Trust, and the Securities and Exchange Commission and
is not intended to be and should not be used by anyone other than these
specified parties.
/s/ Deloitte & Touche LLP
Boston, Massachusetts
October 24, 2017
EX-99.77O RULE 10F-3
3
77O44.txt
[LOGO OF BLACKROCK]
Rule 10f-3 Transaction Form
Acquisition of Securities During Affiliated Underwritings
PARTICIPATING FUNDS
.. U.S. Registered Funds (Name of Fund, Aladdin Ticker):
BlackRock Municipal Bond Trust (BBK)
BlackRock New York Municipal Income Trust II (BFY)
BlackRock Investment Quality Municipal Trust (BKN)
BlackRock New York Municipal Income Trust (BNY)
BlackRock New York Municipal Bond Trust (BQH)
BlackRock New York Municipal Income Quality Trust (BSE)
BlackRock MuniHoldings New York Quality Fund, Inc. (MHN)
BlackRock MuniYield New York Quality Fund, Inc. (MYN)
THE OFFERING
KEY CHARACTERISTICS (COMPLETE ALL FIELDS)
Date of Offering Commencement: 05-11-2017
Security Type: BND/MUNI
Issuer Metropolitan Transportation Authority
Dedicated Tax Fund Green Bonds, Series 2017B-2
Selling Underwriter Samuel A. Ramirez & Company, Inc
Affiliated Underwriter(s) [X] PNC Capital Markets LLC
[_] Other:
List of Underwriter(s) Samuel A. Ramirez & Company, Inc., Academy
Securities, Inc., Alamo Capital, The Williams
Capital Group, LP, Merrill Lynch, Pierce,
Fenner & Smith Incorporated, Citigroup Global
Markets Inc, Goldman, Sachs & Co, J.P. Morgan
Securities LLC, Siebert Cisneros Shank & Co.,
Jefferies LLC, Loop Capital Markets LLC,
Morgan Stanley & Co., PNC Capital Markets LLC,
RBC Capital Markets, LLC, Barclays Capital
Inc., Blaylock Beal Van, LLC, BNY Mellon
Capital Markets, LLC, Cabrera Capital Markets,
LLC, Drexel Hamilton, LLC, Fidelity Capital
Markets, FTN Financial Securities Corp.,
KeyBanc Capital Markets Inc., Raymond James &
Associates, Inc., Rice Financial Products
Company, Stern Brothers & Co., Stifel,
Nicolaus & Company, Incorporated, TD
Securities (USA) LLC
TRANSACTION DETAILS
Date of Purchase 05-11-2017
Purchase Price/Share $97.538
(PER SHARE / % OF PAR) $105.802 Total Commission, Spread or Profit 0.467%
Page 1 of 2
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
1. Aggregate Principal Amount Purchased (a+b) $ 23,260,000
a. US Registered Funds
(Appendix attached with individual Fund/Client purchase) $ 20,000,0000
b. Other BlackRock Clients $ 3,260,000
2. Aggregate Principal Amount of Offering $371,040,000.00
FUND RATIO
[Divide Sum of #1 by #2]
Must be less than 0.25 0.062689
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
LEGAL REQUIREMENTS
OFFERING TYPE (CHECK ONE)
The securities fall into one of the following transaction types (see
Definitions):
[_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous
operations]
[_] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous
operations]
[X] Eligible Municipal Securities
[_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous
operations]
[_] Government Securities Offering.... [Issuer must have 3 years of continuous
operations]
TIMING AND PRICE (CHECK ONE OR BOTH)
[X] The securities were purchased before the end of the first day on which any
sales were made, at a price that was not more than the price paid by each
other purchaser of securities in that offering or in any concurrent
offering of the securities; and
[_] If the securities are offered for subscription upon exercise of rights, the
securities were purchased on or before the fourth day before the day on
which the rights offering terminated.
FIRM COMMITMENT OFFERING (CHECK ONE)
[X] YES The securities were offered pursuant to an underwriting or similar
[_] NO agreement under which the underwriters were committed to purchase all
of the securities being offered, except those purchased by others
pursuant to a rights offering, if the underwriters purchased any of
the securities.
No Benefit to Affiliated Underwriter (check ONE)
[X] YES No affiliated underwriter was a direct or indirect participant in, or
[_] NO benefited directly or indirectly from, the transaction.
Completed by: Dipankar Banerjee Date: 05-15-2017
-------------------------------- ------------
Global Syndicate Team Member
Approved by: Steven Delaura Date: 05-15-2017
-------------------------------- ------------
Global Syndicate Team Member
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
DEFINITIONS
TERM DEFINITION
Fund Ratio Number appearing at the bottom of
page 1 of 2 of the Rule 10f-3 Report
form. It is the sum of the Funds'
participation in the offering by the
Funds and other accounts managed by
BlackRock divided by the total amount
of the offering.
Eligible Foreign Offering The securities are sold in a public
offering conducted under the laws of
a country other than the United
States and
(a) the offering is subject to
regulation in such country by a
"foreign financial regulatory
authority," as defined in Section
2(a)(50) of the Investment
Company Act of 1940;
(b) the securities were offered at a
fixed price to all purchasers in
the offering (except for any
rights to purchase securities
that are required by law to be
granted to existing security
holders of the issuer);
(c) financial statements, prepared
and audited as required or
permitted by the appropriate
foreign financial regulatory
authority in such country, for
the two years prior to the
offering, were made available to
the public and prospective
purchasers in connection with the
offering; and
(d) if the issuer is a "domestic
issuer," i.e., other than a
foreign government, a national of
any foreign country, or a
corporation or other organization
incorporated or organized under
the laws of any foreign country,
it (1) has a class of securities
registered pursuant to section
12(b) or 12(g) of the Securities
Exchange Act of 1934 or is
required to file reports pursuant
to section 15(d) of that act, and
(2) has filed all the material
required to be filed pursuant to
section 13(a) or 15(d) of that
act for a period of at least 12
months immediately preceding the
sale of securities (or for such
shorter period that the issuer
was required to file such
material)
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TERM DEFINITION
Eligible Municipal Securities The securities:
(a) are direct obligations of, or
obligations guaranteed as to
principal or interest by, a State
or any political subdivision
thereof, or any agency or
instrumentality of a State or any
political subdivision thereof, or
any municipal corporate
instrumentality of one or more
States, or any security which is
an industrial development bond
(as defined in section 103(c)(2)
of Title 26) the interest on
which is excludable from gross
income under certain provisions
of the Internal Revenue Code;
(b) are sufficiently liquid that they
can be sold at or near their
carrying value within a
reasonably short period of time;
and
(c) either
(1) are subject to no greater
than moderate credit risk; or
(2) if the issuer of the
municipal securities, or the
entity supplying the revenues
or other payments from which
the issue is to be paid, has
been in continuous operation
for less than three years,
including the operation of
any predecessors, the
securities are subject to a
minimal or low amount of
credit risk.
Also, purchases of municipal
securities may not be designated as
group sales or otherwise allocated to
the account of any prohibited seller
(i.e., an affiliated underwriter).
Eligible Rule 144A Offering The securities are sold in an
offering where
(a) the securities are offered or
sold in transactions exempt from
registration under Section 4(2)
of the Securities Act of 1933,
Rule 144A thereunder, or Rules
501-508 thereunder;
(b) the securities were sold to
persons that the seller and any
person acting on behalf of the
seller reasonably believe to
include qualified institutional
buyers, as defined in Rule 144A
("QIBs"); and
(c) the seller and any person acting
on behalf of the seller
reasonably believe that the
securities are eligible for
resale to other QIBs pursuant to
Rule 144A.
Government Securities Offering The security is issued or guaranteed
as to principal or interest by the
United States, or by a person
controlled or supervised by and
acting as an instrumentality of the
Government of the United States
pursuant to authority granted by the
Congress of the United States; or any
certificate of deposit for any of the
foregoing.
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TERM DEFINITION
U.S. Registered Public Offering. The securities offered are registered
under the Securities Act of 1933 that
are being offered to the public.
EX-99.77O RULE 10F-3
4
77O46.txt
[LOGO OF BLACKROCK]
Rule 10f-3 Transaction Form
Acquisition of Securities During Affiliated Underwritings
PARTICIPATING FUNDS
.. U.S. Registered Funds (Name of Fund, Aladdin Ticker):
ISHARES NATIONAL MUNI BOND ETF (ISHMUNI)
ISHARES SHORT-TERM NATIONAL MUNI BOND ETF (NAT0-5)
ISHARES NEW YORK MUNI BOND ETF (ISHNY)
BlackRock Muni New York Intermediate Duration Fund, Inc. (MNE)
BlackRock Muni Intermediate Duration Fund, Inc. (MUI)
BlackRock Strategic Municipal Opportunities Fund of BlackRock Series Trust
(BR-SMO-IG)
BlackRock Allocation Target Shares: Series E Portfolio (BATSE)
BlackRock Municipal Income Investment Quality Trust (BAF)
BlackRock Municipal Income Investment Trust (BBF)
BlackRock Municipal Income Trust (BFK)
BlackRock Municipal Income Trust II (BLE)
BlackRock Strategic Municipal Trust (BSD)
BlackRock Long-Term Municipal Advantage Trust (BTA)
BlackRock Municipal Income Quality Trust (BYM)
BlackRock MuniEnhanced Fund, Inc. (MEN)
BlackRock MuniYield Investment Quality Fund (MFT)
BlackRock MuniHoldings Fund, Inc. (MHD)
BlackRock MuniYield Quality Fund II, Inc. (MQT)
BlackRock MuniYield Quality Fund, Inc. (MQY)
BlackRock MuniHoldings Fund II, Inc. (MUH)
BlackRock MuniVest Fund II, Inc. (MVT)
BlackRock MuniYield Fund, Inc. (MYD)
BlackRock MuniYield Investment Fund (MYF)
BlackRock MuniYield Quality Fund III, Inc. (MYI)
BlackRock New York Municipal Opportunities Fund of BlackRock Multi-State Mu
(BR-NYMO)
BlackRock New York Municipal Income Trust II (BFY)
BlackRock New York Municipal Income Trust (BNY)
BlackRock New York Municipal Bond Trust (BQH)
BlackRock New York Municipal Income Quality Trust (BSE)
BlackRock MuniHoldings New York Quality Fund, Inc. (MHN)
BlackRock MuniYield New York Quality Fund, Inc. (MYN)
THE OFFERING
KEY CHARACTERISTICS (COMPLETE ALL FIELDS)
Date of Offering Commencement: 05-24-2017
Security Type: BND/MUNI
Issuer Hudson Yards Infrastructure Corporation econd
Indenture Revenue Bonds 2017 Series A
Selling Underwriter Goldman Sachs & Co.
Page 1 of 2
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
Affiliated Underwriter(s) [X] PNC Capital Markets LLC
[_] Other:
List of Underwriter(s) Goldman Sachs & Co., Samuel A. Ramirez &
Company, Inc., J.P. Morgan Securities LLC, ,
Loop Capital Markets LLC, , Merrill Lynch,
Pierce, Fenner & Smith Incorporated, Citigroup
Global Markets Inc., Barclays Capital Inc.,
Citigroup Global Markets Inc., Jefferies LLC,
RBC Capital Markets, Raymond James &
Associates, Inc., Siebert Cisneros Shank &
Co., L.L.C., Wells Fargo Securities, LLC,
Academy Securities, Inc., Blaylock Beal Van,
LLC, BNY Mellon Capital Markets, LLC, ,
Cabrera Capital Markets, LLC, Drexel Hamilton,
LLC, Fidelity Capital Markets, FTN Financial
Capital Markets, Hilltop Securities Inc.,
Janney Montgomery Scott LL, Mesirow Financial
Inc, Mischler Financial Group, Morgan Stanley
& Co. LLC, Oppenheimer & Co, PNC Capital
Markets LLC, Roosevelt & Cross, Inc, Rice
Financial Products Company, Stern Brothers &
Co., Stifel Nicolaus & Company, Inc, TD
Securities (USA) LLC, U.S. Bancorp
Investments, Inc, The Williams Capital Group,
LP
TRANSACTION DETAILS
Date of Purchase 05-24-2017
Purchase Price/Share $116.943
(PER SHARE / % OF PAR) $119.318
$123.504
$122.006
$122
$119.712
$118.49
$117.468
$116.915
$116.092
$115.819
$104.668
$115.547 Total Commission, Spread or Profit 0.461%
1. Aggregate Principal Amount Purchased (a+b) $ 118,335,000
a. US Registered Funds
(Appendix attached with individual Fund/Client purchase) $ 68,960,000
b. Other BlackRock Clients $ 49,375,000
2. Aggregate Principal Amount of Offering $2,108,465,000
FUND RATIO
[Divide Sum of #1 by #2]
Must be less than 0.25 0.05612
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
LEGAL REQUIREMENTS
OFFERING TYPE (CHECK ONE)
The securities fall into one of the following transaction types (see
Definitions):
[_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous
operations]
[_] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous
operations]
[X] Eligible Municipal Securities
[_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous
operations]
[_] Government Securities Offering.... [Issuer must have 3 years of continuous
operations]
TIMING AND PRICE (CHECK ONE OR BOTH)
[X] The securities were purchased before the end of the first day on which any
sales were made, at a price that was not more than the price paid by each
other purchaser of securities in that offering or in any concurrent
offering of the securities; and
[_] If the securities are offered for subscription upon exercise of rights, the
securities were purchased on or before the fourth day before the day on
which the rights offering terminated.
FIRM COMMITMENT OFFERING (CHECK ONE)
[X] YES The securities were offered pursuant to an underwriting or similar
[_] NO agreement under which the underwriters were committed to purchase
all of the securities being offered, except those purchased by
others pursuant to a rights offering, if the underwriters purchased
any of the securities.
NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE)
[X] YES No affiliated underwriter was a direct or indirect participant in,
[_] NO or benefited directly or indirectly from, the transaction.
Completed by: Dipankar Banerjee Date: 05-30-2017
-------------------------------- ------------
Global Syndicate Team Member
Approved by: Steven DeLaura Date: 05-30-2017
-------------------------------- ------------
Global Syndicate Team Member
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
DEFINITIONS
TERM DEFINITION
Fund Ratio Number appearing at the bottom of
page 1 of 2 of the Rule 10f-3 Report
form. It is the sum of the Funds'
participation in the offering by the
Funds and other accounts managed by
BlackRock divided by the total amount
of the offering.
Eligible Foreign Offering The securities are sold in a public
offering conducted under the laws of
a country other than the United
States and
(a) the offering is subject to
regulation in such country by a
"foreign financial regulatory
authority," as defined in Section
2(a)(50) of the Investment
Company Act of 1940;
(b) the securities were offered at a
fixed price to all purchasers in
the offering (except for any
rights to purchase securities
that are required by law to be
granted to existing security
holders of the issuer);
(c) financial statements, prepared
and audited as required or
permitted by the appropriate
foreign financial regulatory
authority in such country, for
the two years prior to the
offering, were made available to
the public and prospective
purchasers in connection with the
offering; and
(d) if the issuer is a "domestic
issuer," i.e., other than a
foreign government, a national of
any foreign country, or a
corporation or other organization
incorporated or organized under
the laws of any foreign country,
it (1) has a class of securities
registered pursuant to section
12(b) or 12(g) of the Securities
Exchange Act of 1934 or is
required to file reports pursuant
to section 15(d) of that act, and
(2) has filed all the material
required to be filed pursuant to
section 13(a) or 15(d) of that
act for a period of at least 12
months immediately preceding the
sale of securities (or for such
shorter period that the issuer
was required to file such
material)
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TERM DEFINITION
Eligible Municipal Securities The securities:
(a) are direct obligations of, or
obligations guaranteed as to
principal or interest by, a State
or any political subdivision
thereof, or any agency or
instrumentality of a State or any
political subdivision thereof, or
any municipal corporate
instrumentality of one or more
States, or any security which is
an industrial development bond
(as defined in section 103(c)(2)
of Title 26) the interest on
which is excludable from gross
income under certain provisions
of the Internal Revenue Code;
(b) are sufficiently liquid that they
can be sold at or near their
carrying value within a
reasonably short period of time;
and
(c) either
(1) are subject to no greater
than moderate credit risk; or
(2) if the issuer of the
municipal securities, or the
entity supplying the revenues
or other payments from which
the issue is to be paid, has
been in continuous operation
for less than three years,
including the operation of
any predecessors, the
securities are subject to a
minimal or low amount of
credit risk.
Also, purchases of municipal
securities may not be designated as
group sales or otherwise allocated to
the account of any prohibited seller
(i.e., an affiliated underwriter).
Eligible Rule 144A Offering The securities are sold in an
offering where
(a) the securities are offered or
sold in transactions exempt from
registration under Section 4(2)
of the Securities Act of 1933,
Rule 144A thereunder, or Rules
501-508 thereunder;
(b) the securities were sold to
persons that the seller and any
person acting on behalf of the
seller reasonably believe to
include qualified institutional
buyers, as defined in Rule 144A
("QIBs"); and
(c) the seller and any person acting
on behalf of the seller
reasonably believe that the
securities are eligible for
resale to other QIBs pursuant to
Rule 144A.
Government Securities Offering The security is issued or guaranteed
as to principal or interest by the
United States, or by a person
controlled or supervised by and
acting as an instrumentality of the
Government of the United States
pursuant to authority granted by the
Congress of the United States; or any
certificate of deposit for any of the
foregoing.
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TERM DEFINITION
U.S. Registered Public Offering. The securities offered are registered
under the Securities Act of 1933 that
are being offered to the public.
EX-99.77O RULE 10F-3
5
77O47.txt
[LOGO OF BLACKROCK]
Rule 10f-3 Transaction Form
Acquisition of Securities During Affiliated Underwritings
Participating Funds
.. U.S. Registered Funds (Name of Fund, Aladdin Ticker):
ISHARES NEW YORK MUNI BOND ETF (ISHNY)
BlackRock Strategic Municipal Opportunities Fund of BlackRock Series Trust
(BR-SMO-IG)
BlackRock New York Municipal Income Trust II (BFY)
BlackRock New York Municipal Income Trust (BNY)
BlackRock New York Municipal Bond Trust (BQH)
BlackRock New York Municipal Opportunities Fund of BlackRock Multi-State Mu
(BR-NYMO)
BlackRock New York Municipal Income Quality Trust (BSE)
BlackRock MuniHoldings New York Quality Fund, Inc. (MHN)
BlackRock MuniYield New York Quality Fund, Inc. (MYN)
BlackRock National Municipal Fund of BlackRock Municipal Bond Fund, Inc.
(BR-NATL)
THE OFFERING
KEY CHARACTERISTICS (COMPLETE ALL FIELDS)
Date of Offering Commencement: 06-23-2017
Security Type: BND/MUNI
Issuer New York City Transitional Finance Authority
Future Tax Secured Subordinate Bonds 2017
Series F
Selling Underwriter Loop Capital Markets LLC
Affiliated Underwriter(s) [X] PNC Capital Markets LLC
[_] Other:
List of Underwriter(s) Loop Capital Markets, Bank of America Merrill
Lynch, Citigroup Global Markets Inc, Goldman
Sachs & Co. LLC, Jefferies LLC, J.P. Morgan
Securities LLC, Ramirez & Co., Inc., RBC
Capital Markets, Siebert Cisneros Shank & Co.,
L.L.C., Barclays Capital Inc., BNY Mellon
Capital Markets, Drexel Hamilton, LLC,
Fidelity Capital Markets, Janney Montgomery
Scott LLC, Morgan Stanley & Co. LLC,
Oppenheimer & Co., Raymond James & Associates,
Inc., Roosevelt & Cross, Inc., Stifel,
Nicolaus & Company, Inc., TD Securities (USA)
LLC, U.S. Bancorp Investments Inc., Wells
Fargo Securities (trade name for Wells Fargo,
Bank N.A. Municipal Products Group), Academy
Securities, Blaylock Van, LLC, FTN Financial
Capital Markets, HilltopSecurities, PNC
Capital Markets LLC, Rice Financial Products
Company, Stern Brothers & Co., Williams
Capital Group L.P.
TRANSACTION DETAILS
Date of Purchase 06-23-2017
Page 1 of 2
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
Purchase Price/Share $121.294 Total Commission, Spread or Profit 0.468%
(PER SHARE / % OF PAR) $120.617
$119.848
$118.802
$118.424
$117.766
$117.485
$119.276
$117.953
$117.298
1. Aggregate Principal Amount Purchased (a+b) $109,580,000
a. US Registered Funds
(Appendix attached with individual Fund/Client purchase) $107,560,000
b. Other BlackRock Clients $ 2,020,000
2. Aggregate Principal Amount of Offering $850,000,000
FUND RATIO
[Divide Sum of #1 by #2]
Must be less than 0.25 0.12892
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
LEGAL REQUIREMENTS
OFFERING TYPE (CHECK ONE)
The securities fall into one of the following transaction types (see
Definitions):
[_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous
operations]
[_] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous
operations]
[X] Eligible Municipal Securities
[_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous
operations]
[_] Government Securities Offering.... [Issuer must have 3 years of continuous
operations]
TIMING AND PRICE (CHECK ONE OR BOTH)
[X] The securities were purchased before the end of the first day on which any
sales were made, at a price that was not more than the price paid by each
other purchaser of securities in that offering or in any concurrent
offering of the securities; and
[_] If the securities are offered for subscription upon exercise of rights, the
securities were purchased on or before the fourth day before the day on
which the rights offering terminated.
FIRM COMMITMENT OFFERING (CHECK ONE)
[X] YES The securities were offered pursuant to an underwriting or similar
[_] NO agreement under which the underwriters were committed to purchase all
of the securities being offered, except those purchased by others
pursuant to a rights offering, if the underwriters purchased any of
the securities.
NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE)
[X] YES No affiliated underwriter was a direct or indirect participant in, or
[_] NO benefited directly or indirectly from, the transaction.
Completed by: Dipankar Banerjee Date: 06-26-2017
-------------------------------- ------------
Global Syndicate Team Member
Approved by: Steven DeLaura Date: 06-26-2017
-------------------------------- ------------
Global Syndicate Team Member
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
DEFINITIONS
TERM DEFINITION
Fund Ratio Number appearing at the bottom of
page 1 of 2 of the Rule 10f-3 Report
form. It is the sum of the Funds'
participation in the offering by the
Funds and other accounts managed by
BlackRock divided by the total amount
of the offering.
Eligible Foreign Offering The securities are sold in a public
offering conducted under the laws of
a country other than the United
States and
(a) the offering is subject to
regulation in such country by a
"foreign financial regulatory
authority," as defined in Section
2(a)(50) of the Investment
Company Act of 1940;
(b) the securities were offered at a
fixed price to all purchasers in
the offering (except for any
rights to purchase securities
that are required by law to be
granted to existing security
holders of the issuer);
(c) financial statements, prepared
and audited as required or
permitted by the appropriate
foreign financial regulatory
authority in such country, for
the two years prior to the
offering, were made available to
the public and prospective
purchasers in connection with the
offering; and
(d) if the issuer is a "domestic
issuer," i.e., other than a
foreign government, a national of
any foreign country, or a
corporation or other organization
incorporated or organized under
the laws of any foreign country,
it (1) has a class of securities
registered pursuant to section
12(b) or 12(g) of the Securities
Exchange Act of 1934 or is
required to file reports pursuant
to section 15(d) of that act, and
(2) has filed all the material
required to be filed pursuant to
section 13(a) or 15(d) of that
act for a period of at least 12
months immediately preceding the
sale of securities (or for such
shorter period that the issuer
was required to file such
material)
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TERM DEFINITION
Eligible Municipal Securities The securities:
(a) are direct obligations of, or
obligations guaranteed as to
principal or interest by, a State
or any political subdivision
thereof, or any agency or
instrumentality of a State or any
political subdivision thereof, or
any municipal corporate
instrumentality of one or more
States, or any security which is
an industrial development bond
(as defined in section 103(c)(2)
of Title 26) the interest on
which is excludable from gross
income under certain provisions
of the Internal Revenue Code;
(b) are sufficiently liquid that they
can be sold at or near their
carrying value within a
reasonably short period of time;
and
(c) either
(1) are subject to no greater
than moderate credit risk; or
(2) if the issuer of the
municipal securities, or the
entity supplying the revenues
or other payments from which
the issue is to be paid, has
been in continuous operation
for less than three years,
including the operation of
any predecessors, the
securities are subject to a
minimal or low amount of
credit risk.
Also, purchases of municipal
securities may not be designated as
group sales or otherwise allocated to
the account of any prohibited seller
(i.e., an affiliated underwriter).
Eligible Rule 144A Offering The securities are sold in an
offering where
(a) the securities are offered or
sold in transactions exempt from
registration under Section 4(2)
of the Securities Act of 1933,
Rule 144A thereunder, or Rules
501-508 thereunder;
(b) the securities were sold to
persons that the seller and any
person acting on behalf of the
seller reasonably believe to
include qualified institutional
buyers, as defined in Rule 144A
("QIBs"); and
(c) the seller and any person acting
on behalf of the seller
reasonably believe that the
securities are eligible for
resale to other QIBs pursuant to
Rule 144A.
Government Securities Offering The security is issued or guaranteed
as to principal or interest by the
United States, or by a person
controlled or supervised by and
acting as an instrumentality of the
Government of the United States
pursuant to authority granted by the
Congress of the United States; or any
certificate of deposit for any of the
foregoing.
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TERM DEFINITION
U.S. Registered Public Offering. The securities offered are registered
under the Securities Act of 1933 that
are being offered to the public.
EX-99.77O RULE 10F-3
6
77O49.txt
[LOGO OF BLACKROCK]
Rule 10f-3 Transaction Form
Acquisition of Securities During Affiliated Underwritings
PARTICIPATING FUNDS
.. U.S. Registered Funds (Name of Fund, Aladdin Ticker):
ISHARES IBONDS DEC 2023 TERM MUNI BOND ETF (IMUN23)
ISHARES SHORT-TERM NATIONAL MUNI BOND ETF (NAT0-5)
ISHARES NATIONAL MUNI BOND ETF (ISHMUNI)
BlackRock New York Municipal Income Trust II (BFY)
BlackRock New York Municipal Income Trust (BNY)
BlackRock New York Municipal Bond Trust (BQH)
BlackRock New York Municipal Opportunities Fund of BlackRock Multi-State Mu
(BR-NYMO)
BlackRock New York Municipal Income Quality Trust (BSE)
BlackRock MuniHoldings New York Quality Fund, Inc. (MHN)
BlackRock MuniYield New York Quality Fund, Inc. (MYN)
BlackRock Muni Intermediate Duration Fund, Inc. (MUI)
BlackRock Municipal Income Investment Quality Trust (BAF)
BlackRock Allocation Target Shares : Series E Portfolio (BATSE)
BlackRock Municipal Income Investment Trust (BBF)
BlackRock Strategic Municipal Trust (BSD)
BlackRock Long-Term Municipal Advantage Trust (BTA)
BlackRock MuniYield Investment Quality Fund (MFT)
THE OFFERING
KEY CHARACTERISTICS (COMPLETE ALL FIELDS)
Date of Offering Commencement: 07-13-2017
Security Type: BND/MUNI
Issuer New York City Transitional Finance Authority
Building Aid Revenue Bonds
Selling Underwriter Merrill Lynch, Pierce, Fenner & Smith
Incorporated
Affiliated Underwriter(s) [X] PNC Capital Markets LLC
[_] Other:
List of Underwriter(s) Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Jefferies LLC, Ramirez &
Co.,Inc., Barclays Capital Inc., BNY Mellon
Capital Markets, Citigroup Global Markets Inc,
Drexel Hamilton, LLC, Fidelity Capital
Markets, Goldman Sachs & Co. LLC, J.P. Morgan
Securities LLC, Janney Montgomery Scott LLC,
Loop Capital Markets LLC, Morgan Stanley & Co.
LLC, Oppenheimer & Co., Raymond James &
Associates, Inc., RBC Capital Markets,
Roosevelt & Cross, Inc., Siebert Cisneros
Shank & Co. ,LLC., Stifel, Nicolaus & Company,
Inc., TD Securities (USA) LLC, U.S. Bancorp
Investments Inc., Wells Fargo Securities,
Academy Securities, Blaylock Van, LLC, FTN
Financial Capital Markets, Hilltop Securities
Inc, PNC Capital Markets LLC, Rice Financial
Products Company, Stern Brothers & Co.,
Williams Capital Group L.P.
Page 1 of 2
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TRANSACTION DETAILS
Date of Purchase 07-13-2017
Purchase Price/Share $118.769 Total Commission, Spread or Profit 0.3762834%
(PER SHARE / % OF PAR) $117.147
$111.019
$120.699
$120.792
$119.241
$105.651
1. Aggregate Principal Amount Purchased (a+b) $ 64,290,000
a. US Registered Funds
(Appendix attached with individual Fund/Client purchase) $ 22,350,000
b. Other BlackRock Clients $ 41,940,000
2. Aggregate Principal Amount of Offering $1,007,545,000
FUND RATIO
[Divide Sum of #1 by #2]
Must be less than 0.25 0.06381
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
LEGAL REQUIREMENTS
OFFERING TYPE (CHECK ONE)
The securities fall into one of the following transaction types (see
Definitions):
[_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous
operations]
[_] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous
operations]
[X] Eligible Municipal Securities
[_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous
operations]
[_] Government Securities Offering.... [Issuer must have 3 years of continuous
operations]
TIMING AND PRICE (CHECK ONE OR BOTH)
[X] The securities were purchased before the end of the first day on which any
sales were made, at a price that was not more than the price paid by each
other purchaser of securities in that offering or in any concurrent
offering of the securities; and
[_] If the securities are offered for subscription upon exercise of rights, the
securities were purchased on or before the fourth day before the day on
which the rights offering terminated.
FIRM COMMITMENT OFFERING (CHECK ONE)
[X] YES The securities were offered pursuant to an underwriting or similar
[_] NO agreement under which the underwriters were committed to purchase all
of the securities being offered, except those purchased by others
pursuant to a rights offering, if the underwriters purchased any of
the securities.
NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE)
[X] YES No affiliated underwriter was a direct or indirect participant in, or
[_] NO benefited directly or indirectly from, the transaction.
Completed by: Alisha Khan Date: 07-18-2017
-------------------------------- ------------
Global Syndicate Team Member
Approved by: Steven DeLaura Date: 07-18-2017
-------------------------------- ------------
Global Syndicate Team Member
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
DEFINITIONS
TERM DEFINITION
Fund Ratio Number appearing at the bottom of
page 1 of 2 of the Rule 10f-3 Report
form. It is the sum of the Funds'
participation in the offering by the
Funds and other accounts managed by
BlackRock divided by the total amount
of the offering.
Eligible Foreign Offering The securities are sold in a public
offering conducted under the laws of
a country other than the United
States and
(a) the offering is subject to
regulation in such country by a
"foreign financial regulatory
authority," as defined in Section
2(a)(50) of the Investment
Company Act of 1940;
(b) the securities were offered at a
fixed price to all purchasers in
the offering (except for any
rights to purchase securities
that are required by law to be
granted to existing security
holders of the issuer);
(c) financial statements, prepared
and audited as required or
permitted by the appropriate
foreign financial regulatory
authority in such country, for
the two years prior to the
offering, were made available to
the public and prospective
purchasers in connection with the
offering; and
(d) if the issuer is a "domestic
issuer," i.e., other than a
foreign government, a national of
any foreign country, or a
corporation or other organization
incorporated or organized under
the laws of any foreign country,
it (1) has a class of securities
registered pursuant to section
12(b) or 12(g) of the Securities
Exchange Act of 1934 or is
required to file reports pursuant
to section 15(d) of that act, and
(2) has filed all the material
required to be filed pursuant to
section 13(a) or 15(d) of that
act for a period of at least 12
months immediately preceding the
sale of securities (or for such
shorter period that the issuer
was required to file such
material)
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TERM DEFINITION
Eligible Municipal Securities The securities:
(a) are direct obligations of, or
obligations guaranteed as to
principal or interest by, a State
or any political subdivision
thereof, or any agency or
instrumentality of a State or any
political subdivision thereof, or
any municipal corporate
instrumentality of one or more
States, or any security which is
an industrial development bond
(as defined in section 103(c)(2)
of Title 26) the interest on
which is excludable from gross
income under certain provisions
of the Internal Revenue Code;
(b) are sufficiently liquid that they
can be sold at or near their
carrying value within a
reasonably short period of time;
and
(c) either
(1) are subject to no greater
than moderate credit risk; or
(2) if the issuer of the
municipal securities, or the
entity supplying the revenues
or other payments from which
the issue is to be paid, has
been in continuous operation
for less than three years,
including the operation of
any predecessors, the
securities are subject to a
minimal or low amount of
credit risk.
Also, purchases of municipal
securities may not be designated as
group sales or otherwise allocated to
the account of any prohibited seller
(i.e., an affiliated underwriter).
Eligible Rule 144A Offering The securities are sold in an
offering where
(a) the securities are offered or
sold in transactions exempt from
registration under Section 4(2)
of the Securities Act of 1933,
Rule 144A thereunder, or Rules
501-508 thereunder;
(b) the securities were sold to
persons that the seller and any
person acting on behalf of the
seller reasonably believe to
include qualified institutional
buyers, as defined in Rule 144A
("QIBs"); and
(c) the seller and any person acting
on behalf of the seller
reasonably believe that the
securities are eligible for
resale to other QIBs pursuant to
Rule 144A.
Government Securities Offering The security is issued or guaranteed
as to principal or interest by the
United States, or by a person
controlled or supervised by and
acting as an instrumentality of the
Government of the United States
pursuant to authority granted by the
Congress of the United States; or any
certificate of deposit for any of the
foregoing.
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TERM DEFINITION
U.S. Registered Public Offering. The securities offered are registered
under the Securities Act of 1933 that
are being offered to the public.