BlackRock Municipal Bond Fund, Inc.:  BlackRock National Municipal Fund

77(I)

Terms of new or amended securities

Effective July 18, 2011, the establishment and designation of Classes are as follows:

1.   The new classes of Shares are designated as BlackRock Shares, Service Shares and Investor B1 Shares.

2.   The classes of Shares established and designated are as follows:

a.   BlackRock Shares

b.   Institutional Shares

c.   Service Shares

d.   Investor A Shares

e.   Investor B Shares

f.   Investor B1 Shares

g.   Investor C Shares

h.   Investor C1 Shares