U.S. Securities and Exchange Commission
				  Washington, D.C.  20549

					  Form 24F-2
			    Annual Notice of Securities Sold
				 Pursuant to Rule 24f-2




1.  Name and address of Issuer:

    Merrill Lynch Municipal Bond Fund, Inc.
    P.O. Box 9011
    Princeton, N.J.  08543-9011


2.  Name of each series or class of funds for which this notice
    is filed:

    	National Portfolio - Class A
	National Portfolio - Class B
	National Portfolio - Class C
	National Portfolio - Class D
    
	Insured Portfolio - Class A
	Insured Portfolio - Class B
	Insured Portfolio - Class C
	Insured Portfolio - Class D
    
	Limited Maturity Portfolio - Class A
	Limited Maturity Portfolio - Class B
	Limited Maturity Portfolio - Class C
	Limited Maturity Portfolio - Class D

3.  Investment Company Act File Number:   

    Securities Act File Number:   2-57354


4.  Last day of fiscal year for which this notice is filed:

		    June 30, 1997

5.  Check box if this notice is being filed more than 180 days 
    after the close of the issuer's fiscal year for purposes of
    reporting securities sold after the close of the fiscal year 
    but before termination of the issuer's 24f-2 declaration:
	
		     [  ]

6.  Date of termination of issuer's declaration under rule 
    24f-2(a)(1), if applicable :



7.  Number and amount of securities of the same class or series 
    which had been registered under the Securities Act of 1933
    other than pursuant to rule 24f-2 in a prior fiscal year,
    but which remained unsold at the beginning of the 
    fiscal year:

	National Portfolio - 42,253,813  shares        
	Insured Portfolio - 31,546,940 shares
	Limited Maturity Portfolio - 19,251,298 shares    

8.  Number and amount of securities registered during the fiscal
    year other than pursuant to rule 24f-2:

	National Portfolio - 34,901,870 shares          
	Insured Portfolio - 62,587,789 shares
	Limited Maturity Portfolio - 29,625,374 shares

9.  Number and aggregate sale price of securities sold during 
    the fiscal year:

	National Portfolio - 31,729,589 shares        $326,724,591
	Insured Portfolio - 23,826,966 shares         $190,682,087
	Limited Maturity Portfolio - 7,849,098 shares $ 77,980,384

10.  Number and aggregate sale price of securities sold during 
     the fiscal year in reliance upon registration pursuant to 
     rule 24f-2:

	National Portfolio - 0 shares             $0
	Insured Portfolio - 0 shares              $0
	Limited Maturity Portfolio - 0 shares    	$0

11.  Number and aggregate sale price of securities issued during 
     the fiscal year in connection with dividend reinvestment
     plans, if applicable :

	National Portfolio - 3,832,555 shares    	      $39,323,625
	Insured Portfolio - 6,693,963  shares     	$53,542,275
	Limited Maturity Portfolio - 1,117,776  shares  $11,098,803

12.  Calculation of registration fee:
  
NATIONAL PORTFOLIO
   
     (i)   Aggregate sale price of securities 
	   sold during the fiscal year in
	   reliance on rule 24f-2 
	   (from Item 10):                          $0

     (ii)  Aggregate price of shares issued
	   in connection with dividend		  
	   reinvestment plans (from Item
	   11, if applicable):                   + $  39,323,625

     (iii)Aggregate price of shares redeemed 	  
	  or repurchased during the fiscal	  
	  year (if applicable):                  - $364,854,477

     (iv) Aggregate price of shares redeemed 
	  or repurchased and previously
	  applied as a reduction to 
	  filing fees pursuant to rule
	  24e-2 (if applicable):                  + $0

     (v)  Net aggregate price of securities
	  sold and issued during the 
	  fiscal year in reliance upon
	  rule 24f-2 [line (i), plus line (ii),     $0
	  less line (iii), plus line (iv)]
	  (if applicable):

     (vi) Multiplier prescribed by Section
	  6(b) of the Securities Act of
	  1933 or other applicable law or
	  regulation :                          x    1/3300

     (vii)Fee due [line (i) or line (v)
	  multiplied by line (vi)]:                 $0


INSURED PORTFOLIO
   
     (i)   Aggregate sale price of securities 
	   sold during the fiscal year in
	   reliance on rule 24f-2 
	   (from Item 10):                          $0

     (ii)  Aggregate price of shares issued
	   in connection with dividend		  
	   reinvestment plans (from Item
	   11, if applicable):                    + $  53,542,275

     (iii)Aggregate price of shares redeemed 	  
	  or repurchased during the fiscal	  
	  year (if applicable):                   - $601,754,746

     (iv) Aggregate price of shares redeemed 
	  or repurchased and previously
	  applied as a reduction to 
	  filing fees pursuant to rule
	  24e-2 (if applicable):                  + $0

     (v)  Net aggregate price of securities
	  sold and issued during the 
	  fiscal year in reliance upon
	  rule 24f-2 [line (i), plus line (ii),     $0
	  less line (iii), plus line (iv)]
	  (if applicable):

     (vi) Multiplier prescribed by Section
	  6(b) of the Securities Act of
	  1933 or other applicable law or
	  regulation :                          x    1/3300

     (vii)Fee due [line (i) or line (v)
	  multiplied by line (vi)]:                 $0


LIMITED MATURITY PORTFOLIO
   
     (i)   Aggregate sale price of securities 
	   sold during the fiscal year in
	   reliance on rule 24f-2 
	   (from Item 10):                          $0

     (ii)  Aggregate price of shares issued
	   in connection with dividend		  
	   reinvestment plans (from Item
	   11, if applicable):                    + $  11,098,803

     (iii)Aggregate price of shares redeemed 	  
	  or repurchased during the fiscal	  
	  year (if applicable):                   - $175,961,718

     (iv) Aggregate price of shares redeemed 
	  or repurchased and previously
	  applied as a reduction to 
	  filing fees pursuant to rule
	  24e-2 (if applicable):                  + $0

     (v)  Net aggregate price of securities
	  sold and issued during the 
	  fiscal year in reliance upon
	  rule 24f-2 [line (i), plus line (ii),     $0
	  less line (iii), plus line (iv)]
	  (if applicable):

     (vi) Multiplier prescribed by Section
	  6(b) of the Securities Act of
	  1933 or other applicable law or
	  regulation :                          x    1/3300

     (vii)Fee due [line (i) or line (v)
	  multiplied by line (vi)]:                 $0



13.  Check box if fees are being remitted to the Commission's
     lockbox depository as described in section 3a of the 
     Commission's Rules of Informal and Other Procedures
     (17 CFR 202.3a).
		 
		       [  ]

     Date of mailing or wire transfer of filing fees to the
     Commission's lockbox depository:



			       SIGNATURES

     This report has been signed below by the following persons
     on behalf of the issuer and in the capacities and on the
     dates indicated.


     By 

	/s/Jaclyn Scheck
	Jaclyn Scheck, Assistant Secretary
				

    Date August 22, 1997