0000844779-17-000265.txt : 20170811 0000844779-17-000265.hdr.sgml : 20170811 20170811144352 ACCESSION NUMBER: 0000844779-17-000265 CONFORMED SUBMISSION TYPE: NSAR-A/A PUBLIC DOCUMENT COUNT: 8 CONFORMED PERIOD OF REPORT: 20161231 FILED AS OF DATE: 20170811 DATE AS OF CHANGE: 20170811 EFFECTIVENESS DATE: 20170811 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK MUNICIPAL BOND FUND, INC. CENTRAL INDEX KEY: 0000225635 IRS NUMBER: 132896246 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: NSAR-A/A SEC ACT: 1940 Act SEC FILE NUMBER: 811-02688 FILM NUMBER: 171024504 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH MUNICIPAL BOND FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: ONE LIBERTY MUNICIPAL BOND FUND INC DATE OF NAME CHANGE: 19780622 0000225635 S000002334 BlackRock National Municipal Fund C000006118 Investor A C000006119 Investor B C000006120 Investor C1 C000006121 Institutional C000038033 Investor C C000100249 Service Shares C000100250 Class K 0000225635 S000002335 BlackRock Short-Term Municipal Fund C000006122 Investor A1 C000006124 Investor C C000006125 Institutional C000038034 Investor A C000038035 Class K 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NEW YORK 011 C02AA01 NY 011 C03AA01 10022 012 A00AA01 BNY MELLON INVESTMENT SERVICING (US) INC. 012 B00AA01 84-01761 012 C01AA01 WILMINGTON 012 C02AA01 DE 012 C03AA01 19809 013 A00AA01 DELOITTE & TOUCHE LLP 013 B01AA01 BOSTON 013 B02AA01 MA 013 B03AA01 02116 PAGE 2 014 A00AA01 BLACKROCK EXECUTION SERVICES 014 B00AA01 8-48719 014 A00AA02 BLACKROCK INVESTMENTS, LLC 014 B00AA02 8-48436 014 A00AA03 HARRIS WILLIAMS LLC 014 B00AA03 8-53380 014 A00AA04 PNC CAPITAL MARKETS, INC. 014 B00AA04 8-32493 014 A00AA05 PNC INVESTMENTS LLC 014 B00AA05 8-66195 014 A00AA06 SOLEBURY CAPITAL, LLC 014 B00AA06 8-67548 015 A00AA01 STATE STREET BANK & TRUST COMPANY 015 B00AA01 C 015 C01AA01 BOSTON 015 C02AA01 MA 015 C03AA01 02210 015 E01AA01 X 018 00AA00 Y 019 A00AA00 Y 019 B00AA00 275 019 C00AA00 BLKRKADVSR 020 A000001 BANK OF AMERICA CORP 020 B000001 56-0906609 020 C000001 25 021 000000 25 022 A000001 BLACKROCK LIQUIDITY FUNDS, MUNICASH 022 B000001 52-0983343 022 C000001 2612749 022 D000001 2347046 022 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I010400 N 070 I020400 N 070 J010400 Y 070 J020400 N 070 K010400 Y 070 K020400 Y 070 L010400 N 070 L020400 N 070 M010400 N 070 M020400 N 070 N010400 Y 070 N020400 N 070 O010400 Y 070 O020400 N 070 P010400 Y 070 P020400 N 070 Q010400 Y 070 Q020400 N 070 R010400 N 070 R020400 N 071 A000100 2253306 071 B000100 2478495 071 C000100 6413403 071 D000100 35 071 A000300 267203 071 B000300 223198 071 C000300 601969 071 D000300 37 071 A000400 135091 071 B000400 212129 071 C000400 862855 071 D000400 16 PAGE 13 072 A000100 6 072 B000100 119102 072 C000100 1119 072 D000100 0 072 E000100 0 072 F000100 14535 072 G000100 481 072 H000100 0 072 I000100 1977 072 J000100 124 072 K000100 0 072 L000100 48 072 M000100 60 072 N000100 199 072 O000100 0 072 P000100 170 072 Q000100 0 072 R000100 27 072 S000100 57 072 T000100 5841 072 U000100 0 072 V000100 0 072 W000100 74 072 X000100 23593 072 Y000100 1038 072 Z000100 97666 072AA000100 833 072BB000100 0 072CC010100 0 072CC020100 318576 072DD010100 92160 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0 081 B00AA00 0 082 B00AA00 0 083 B00AA00 0 084 B00AA00 0 086 A010000 0 086 A020000 0 086 B010000 0 086 B020000 0 086 C010000 0 086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 SIGNATURE NEAL J. ANDREWS TITLE CFO EX-99.77O RULE 10F-3 2 77o68.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) BlackRock Short-Term Municipal Fund (BR-STMUNI) BlackRock Municipal 2030 Target Term Trust (BTT2) BlackRock Short-Term Municipal Fund (BR-STMUNI) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of 08-04-2016 Offering Commencement: Security Type: BND/MUNI Issuer County of Hamilton, Ohio Sales Tax Refunding Bonds, Series 2016A Selling Underwriter RBC CAPITAL MARKETS, LLC. Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) RBC Capital Markets, LLC, Fifth Third Securities, Inc, The Huntington Investment Company, PNC Capital Markets LLC, Siebert Brandford Shank & Co TRANSACTION DETAILS Date of Purchase 08-04-2016 Purchase Price/Share $106.742 (PER SHARE / % OF PAR) (0.88) $125.112 (2.24) $113.103 (0.88) Total Commission, Spread or Profit 0.381% 1. Aggregate Principal Amount Purchased (a+b) $18,740,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 8,200,000 b. Other BlackRock Clients $10,540,000
Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] 2. Aggregate Principal Amount of Offering $324,035,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.05783
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: 08-09-2016 -------------------------------- ------------ Global Syndicate Team Member -------------------------------- ------------ Approved by: Steven DeLaura Date: 08-09-2016 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 The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 3 77o76.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 NEW YORK MUNI BOND ETF (ISHNY) BlackRock Municipal Income Investment Quality Trust (BAF) BlackRock Allocation Target Shares : Series E Portfolio (BATSE) BlackRock Municipal Income Investment Trust (BBF) BlackRock Municipal Income Trust (BFK) BlackRock Municipal Income Trust II (BLE) BlackRock High Yield Municipal Fund (BR-HYMUNI) BlackRock National Municipal Fund of Blackrock Municipal Bond Fund, Inc. (BR-NATL) BlackRock New York Municipal Opportunities Fund of BlackRock Multi-State Mu (BR-NYMO) BlackRock Strategic Municipal Trust (BSD) BlackRock Long-Term Municipal Advantage Trust (BTA) BlackRock Municipal Income Quality Trust (BYM) BlackRock MuniEnhanced Fund, Inc.(MEN) BlackRock MuniHoldings Investment Quality Fund (MFL) BlackRock MuniYield Investment Quality Fund (MFT) BlackRock MuniHoldings Fund, Inc. (MHD) BlackRock MuniHoldings New York Quality Fund, Inc. (MHN) 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 MuniYield New York Quality Fund, Inc. (MYN) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of 07-21-2016 Offering Commencement: Security Type: BND/MUNI Issuer Metropolotan Transportation Authority Transportation Revenue Bonds, Series 2016C, Subseries 2016-C-1 (2056) Selling Underwriter Wells Fargo Securities, LLC Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] List of Underwriter(s) Wells Fargo Securities, LLC, Drexel Hamilton,LLC, Estrada Hinojosa & Company, Rice Financial Products Company, BNYMellon Capital Markets, Merrill Lynch,Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Jefferies LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Samuel A. Ramirez & Company, Inc., RBC Capital Markets, LLC, Siebert Brandford Shank & Co, Academy Securities, Barclays Capital Inc., Cabrera Capital Markets,LLC, Duncan-Williams,Inc., Fidelity Capital Markets, Janney Montgomery Scott LL, Keybank Capital Markets Inc, M&T Securities, Inc, Mesirow Financial Inc, Oppenheimer & Co, Piper Jaffray & Co, PNC Capital Markets LLC, Raymond James & Associates,Inc, Roosevelt & Cross,Inc, Stern Brothers & Co., Stifel Nicolaus & Company, Inc, The Williams Capital Group, L.P , TD Securities (USA) LLC, U.S. Bancorp Investments, Inc TRANSACTION DETAILS Date of Purchase 07-21-2016 Purchase Price/Share $119.657 (PER SHARE / % OF PAR) (2.79) $122.685 (2.71) Total Commission, Spread or Profit 0.463% 1. Aggregate Principal Amount Purchased (a+b) $104,120,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 87,500,000 b. Other BlackRock Clients $ 16,620,000 2. Aggregate Principal Amount of Offering $863,860,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.120528
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: 07-26-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 07-26-2016 -------------------------------- ------------ 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 77o77.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 NEW YORK MUNI BOND ETF (ISHNY) BlackRock National Municipal Fund of Blackrock Municipal Bond Fund, Inc. (BR-NATL) BlackRock New York Municipal Opportunities Fund of BlackRock Multi-State Mu (BR-NYMO) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of 07/14/2016 Offering Commencement: Security Type: BND/MUNI Issuer New York City Transitional Finance Authority Future Tax Secured Subordinate Bonds 2017 Series A, Subseries A-1 Selling Underwriter SIEBERT, CISNEROS, SHANK & CO., L.L Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Siebert Brandford Shank & Co., L.L.C, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman, Sachs & Co, Jefferies & Company, Inc, J.P. Morgan Securities LLC, Loop Capital Markets LLC, Ramirez & Company, Inc, RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Barclays Capital Inc, BNY Mellon Capital Markets, LLC, Drexel Hamilton, LLC, Fidelity Capital Markets, Janney Montgomery Scott LLC, Mizuho Securities USA Inc., 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., Academy Securities Inc., Blaylock Beal Van, LLC, Bonwick Capital Partners, LLC, FTN Financial Capital Markets, Hilltop Securities Inc., PNC Capital Markets LLC, Rice Financial Products Company, Stern Brothers & Co., The Williams Capital Group, LP, Citigroup Global Markets Inc TRANSACTION DETAILS Date of Purchase 07-14-2016 Purchase Price/Share (PER SHARE / % OF PAR) $ 126.27 Total Commission, Spread or Profit 0.46269% (2.02) $124.068 Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] (2.24) $112.822 (2.51) 1. Aggregate Principal Amount Purchased (a+b) $ 41,490,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 30,215,000 b. Other BlackRock Clients $ 11,275,000 2. Aggregate Principal Amount of Offering $800,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.0518625
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: 07-26-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 07-26-2016 -------------------------------- ------------ 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 The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 5 77o93.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 Allocation Target Shares : Series E Portfolio (BATSE) BlackRock High Yield Municipal Fund (BR-HYMUNI) BlackRock MuniAssets Fund, Inc. (MUA) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of 12-15-2016 Offering Commencement: Security Type: BND/MUNI Issuer Board of Education of the City of Chicago Dedicated Capital Improvement Tax Bonds Selling Underwriter Barclays Capital Inc Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Barclays Capital Inc, J.P. Morgan Securities LLC, Loop Capital Market, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Cabrera Capital Markets, LLC, IFS Securities, Inc., PNC Capital Markets LLC, Siebert Brandford Shank & Co, Valdes & Moreno, Inc. TRANSACTION DETAILS Date of Purchase 12-15-2016 Purchase Price/Share (PER SHARE / % OF PAR) $99.649 Total Commission, Spread or Profit 0.865% 1. Aggregate Principal Amount Purchased (a+b) $ 5,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 5,000,000 b. Other BlackRock Clients N/A 2. Aggregate Principal Amount of Offering $729,580,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.00685
Page 1 of 2 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: 12/27/16 -------------------------------- ---------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 12/27/16 -------------------------------- ---------- 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 The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 6 77o96.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 NEW YORK MUNI BOND ETF (ISHNY) BlackRock National Municipal Fund of Blackrock Municipal Bond Fund, Inc. (BR-NATL) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of 12-01-2016 Offering Commencement: Security Type: BND/MUNI Issuer New York City Municipal Water Finance Authority Water Sewer System Second General Resolution Revenue Bonds 2017 Series CC Subseries CC-1 Selling Underwriter Raymond James & Associates, Inc. Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Raymond James & Associates, Inc., Rice Financial Products Company, Barclays Capital Inc, Siebert Cisneros Shank & Co., LLC, Merrill Lynch,Pierce,Fenner & Smith Incorporated, Citigroup Global Markets Inc, ,Fidelity Capital Markets, Goldman Sachs & Co, J.P. Morgan Securities LLC, Jefferies & Company, Inc, Loop Capital Markets, LLC, Morgan Stanley & Co. LLC, Ramirez & Co., Inc., RBC Capital Markets, LLC, Roosevelt & Cross,Inc, TD Securities (USA) LLC, U.S. Bancorp Investments Inc, Wells Fargo Securities, LLC, Academy Securities,Inc, Blaylock Beal Van, LLC, Cabrera Capital Markets, LLC, Mesirow Financial Inc., Mischler Financial Group, Inc, PNC Capital Markets LLC, Stifel,Nicolaus & Company,Incorporated, The Williams Capital Group, L.P. TRANSACTION DETAILS Date of Purchase 12-01-2016 Purchase Price/Share $109.829 Total Commission, Spread or 0.464805% (PER SHARE / % OF PAR) (3.76) Profit $112.662 (3.66) 1. Aggregate Principal Amount Purchased (a+b) $23,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client $23,000,000
Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] purchase) b. Other BlackRock Clients N/A 2. Aggregate Principal Amount of Offering $327,310,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.07027
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: 12-06-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 12-06-2016 -------------------------------- ------------ 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 The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 7 77o102.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 2030 Target Term Trust (BTT2) BlackRock Municipal Income Investment Quality Trust (BAF) BlackRock Allocation Target Shares : Series E Portfolio (BATSE) BlackRock Municipal Income Investment Trust (BBF) BlackRock New Jersey Municipal Bond Trust (BLJ) BlackRock New Jersey Municipal Income Trust (BNJ) BlackRock National Municipal Fund of Blackrock Municipal Bond Fund, Inc. (BR-NATL) BlackRock New Jersey Municipal Bond Fund of BlackRock Multi-State Municipal (BR-NJMUNI) BlackRock Strategic Municipal Trust (BSD) BlackRock Long-Term Municipal Advantage Trust (BTA) BlackRock MuniYield Investment Quality Fund (MFT) BlackRock MuniHoldings Quality Fund II, Inc. (MUE) BlackRock MuniHoldings New Jersey Quality Fund, Inc. (MUJ) BlackRock MuniHoldings Quality Fund, Inc. (MUS) BlackRock MuniVest Fund, Inc. (MVF) BlackRock MuniYield New Jersey Fund, Inc. (MYJ) BlackRock Municipal Bond Trust (BBK) BlackRock Investment Quality Municipal Trust (BKN) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of 10-21-2016 Offering Commencement: Security Type: BND/MUNI Issuer New Jersey Health Care Facilities Financing Authority Revenue and Refunding Bonds RWJ Barnabas Health Obligated Group Issue, Series 2016A Selling Underwriter Citigroup Global Markets Inc Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Citigroup Global Markets Inc., Duncan-Williams,Inc, Estrada Hinojosa & Company, Estrada Hinojosa & Company, J.P. Morgan Securities LLC, PNC Capital Markets LLC, Wells Fargo Securities, LLC Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TRANSACTION DETAILS Date of Purchase 10-21-2016 Purchase Price/Share $117.584 (PER SHARE / % OF PAR) $113.875 $102.578 Total Commission, Spread or Profit 0.523% 1. Aggregate Principal Amount Purchased (a+b) $ 64,725,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 53,745,000 b. Other BlackRock Clients $ 10,980,000 2. Aggregate Principal Amount of Offering $679,135,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.09531
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: 11-07-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 11-07-2016 -------------------------------- ------------ 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 The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77Q1 OTHR EXHB 8 77qhydmun.txt BlackRock Municipal Bond Fund, Inc. (the "Registrant") ------------------------------------------------------ BlackRock High Yield Municipal Fund (the "Fund") 77Q1(e): Copies of any new or amended Registrant investment advisory contracts Attached please find as an exhibit to sub-item 77Q1(e) of Form N-SAR, a copy of Form of Amendment No. 1 to the Investment Management Agreement between BlackRock Advisors, LLC and the Registrant, on behalf of the Fund. EXHIBIT 77Q1(E) Form of Amendment No. 1 to the Investment Management Agreement This Amendment No. 1 to the Investment Management Agreement dated as of November 1, 2016 (the "Amendment") is entered into by and between BlackRock Municipal Bond Fund, Inc., a Maryland corporation (the "Corporation"), on behalf of its series, BlackRock High Yield Municipal Fund (the "Fund"), and BlackRock Advisors, LLC, a Delaware limited liability company (the "Advisor"). WHEREAS, the Corporation, on behalf of the Fund, and the Advisor have entered into an Investment Management Agreement dated September 29, 2006 (the "Management Agreement") pursuant to which the Advisor agreed to act as investment adviser to the Fund; and WHEREAS, the Management Agreement provides that the Corporation, on behalf of the Fund, will pay to the Advisor a monthly fee in arrears at an annual rate equal to the amount set forth in Schedule A thereto; and WHEREAS, the Management Agreement provides that the Management Agreement may be amended by the parties to the Management Agreement only if such amendment is specifically approved by the vote of the Board of Directors of the Corporation, including a majority of those Directors who are not parties to the Management Agreement or interested persons of any such party cast in person at a meeting called for the purpose of voting on such approval and, where required by the Investment Company Act of 1940, by a vote of a majority of the outstanding voting securities of the Fund; and WHEREAS, the Board of Directors, including a majority of those Directors who are not interested persons of the Corporation, specifically approved this Amendment at an in-person meeting held on September 14, 2016. NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows: 1. Schedule A of the Management Agreement is hereby amended as set forth on the Schedule A attached hereto with respect to the Fund. 2. Except as otherwise set forth herein, the terms and conditions of the Management Agreement shall remain in full force and effect. [End of Text] - 2 - IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to the Investment Management Agreement to be executed by their officers designated below as of the day and year first written above. BLACKROCK MUNICIPAL BOND FUND, INC. By: ------------------------------ Name: John M. Perlowski Title: President and Chief Executive Officer BLACKROCK ADVISORS, LLC By: ------------------------------ Name: Neal J. Andrews Title: Managing Director - 3 - Schedule A ---------- Investment Advisory Fee -----------------------
Portion of Average Daily Value of Net Assets Fee -------------------------------------------- ---- Not exceeding $1 billion................................ 0.47% In excess of $1 billion but not exceeding $3 billion.... 0.44% In excess of $3 billion but not exceeding $5 billion.... 0.42% In excess of $5 billion but not exceeding $10 billion... 0.41% In excess of $10 billion................................ 0.40%
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