EX-99

                                                       Exhibit


                         Rule 10f-3 Transactions

      On  July  28,  2001, Dreyfus Premier Municipal Bond Fund (the  "Fund")
purchased  $2.5  million  of municipals bonds issued  by  Highlands  County,
Florida  - Health Facility Authority Rev. - Adventist/Sunbelt (the "Bonds").
The  Bonds were purchased from Ziegler Capital Markets Group a member of the
underwriting  syndicate offering the Bonds.  Mellon Financial  Markets,  LLC
("Mellon"),   an affiliate of the Fund, was a member of the syndicate.   The
transaction  was designated as a "group sale", but Mellon was excluded  from
receipt  of  compensation.   The following is  a  list  of  the  syndicate's
members:

                         Ziegler Capital Markets Group
                         Goldman, Sachs & Co.
                         Mellon Financial Markets, LLC
                         SouthTrust Securities, Inc.
                         SunTrust Equitable Securities
                         Wachovia Securities, Inc.

     Accompanying this statement are materials presented to the Fund's Board
of  Trustees, which ratified the purchase as in compliance with  the  Fund's
Rule 10f-3 Procedures, at the Fund's Board meeting held on October 3, 2001.

EX-99

2

                      REPORT OF PURCHASE OF SECURITIES
                        IN COMPLIANCE WITH RULE 10F-3

This  report must be completed on the date of purchase and must be  provided
promptly  to  the  portfolio management department head  and  to  the  legal
department.  Any changes to the information provided herein must be reported
immediately to each of these departments.

1.   Name of Dreyfus/MPAM Fund:    Dreyfus Premier Municipal Bond Fund

2.   Total Net Assets of Fund:          $421,428,600

3.   Type of Security:             Municipal Bond

4.    Description  of  Security Purchased: Highlands  County,  FL  -  Health
Facility Authority Rev.- Adventist/Sunbelt

5.   Purchased per Firm Commitment Underwriting?   Yes

6.   Security Rating:              Baa1/A-

7.   Name of Underwriting Syndicate
     Dealer Effecting Transaction: B.C. Ziegler & Co.

8.   Name of Affiliated Underwriter in
     Underwriting Syndicate:       Mellon Financial Markets, LLC ("Mellon")

9.   Issue Size:              $165,190,000

10.  Amount Purchased by Fund:     $2,500,000

11.  Percentage  of Principal Amount of Offering Purchased by Fund  (not  to
     exceed  25%  of  offering  with respect to all Dreyfus-managed  funds):
     1.5%

12.  Amount Purchased as a Percentage of Fund Assets:  .6%

13.  Purchase Price of Securities (if at par, so state):   99 5/8

14.       Commission/Spread Received by Principal Underwriters:  5/8

15.  Were  the  Securities purchased prior to 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 the Securities in that offering or  any
     concurrent  offering  of the Securities (except, with  respect  to  the
     purchase  of any eligible foreign offering, for any rights to  purchase
     that were required by law to be granted to existing security holders of
     the  issuer)?    Yes    If the Securities were offered for subscription
     upon exercise of rights, were the Securities purchased on or before the
     fourth  day  preceding the day on which the rights offering terminated?
     N/A

16.  If the Securities were part of an issue registered under the Securities
     Act of 1933, as amended, that was offered to the public, or was purchased
     pursuant to an eligible foreign or Rule 144A offering, was the issuer of
     the Securities in continuous operation for not less than three years,
     including the operations of any predecessors?   N/A

17.  Was  the commission, spread or profit received or to be received by the
     principal  underwriters of the Securities reasonable and fair  compared
     to  the  commission, spread or profit received by others in  connection
     with  the  underwriting  of  similar securities  being  sold  during  a
     comparable period of time?    Yes

18.  Did  the  Fund's  purchase  of the Securities benefit  any  underwriter
     affiliated with the Fund directly or indirectly or, with respect to any
     eligible  municipal securities, was it designated as a "group sale"  or
     otherwise  allocated  to  the  affiliated underwriter's  account?   The
     transaction  was designated as a "group sale", but Mellon was  excluded
     from receipt of compensation.

     /s/  Samuel J. Weinstock                                Purchase  Date:
7/28/01
     Portfolio Manager

EX-99

                                 MEMORANDUM



TO:       The Members of the Board of
          Dreyfus Premier Municipal Bond Fund

FROM:     Joni Lacks Charatan
          Assistant General Counsel

DATE:     September 10, 2001

SUBJECT:  Review of Compliance with Rule 10f-3 Procedures

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     The   following  constitutes  the  required  report  of  purchases   of
securities that were effected pursuant to procedures as prescribed  by  Rule
10f-3 under the Investment Company Act of 1940, as amended (the "1940 Act"),
during the period June 30, 2001 through August 31, 2001.

     Rule  10f-3  under the 1940 Act exempts certain purchases of securities
by  a  registered  investment  company that are otherwise  prohibited  under
Section 10(f).

      Section  10(f)  prohibits any Dreyfus-sponsored  fund  from  acquiring
securities if an affiliated person of the fund, including Mellon or  any  of
its  affiliates,  concurrently  is acting  as  a  principal  underwriter  in
connection  with the offering of such securities to others.   The  foregoing
restriction  applies  even  if  the  purchase  is  actually  made  from   an
unaffiliated  underwriter.  This provision of the 1940 Act was  designed  to
prevent an underwriter affiliated with a registered investment company  from
"dumping" otherwise unmarketable securities on the investment company.

     Under  certain  conditions, however, Rule 10f-3 provides  an  exemption
from  the  prohibitions  of Section 10(f).  Rule 10f-3  permits  a  fund  to
purchase  securities that would otherwise violate Section  10(f)  if,  among
other things:

     1.   the securities were registered under the Securities Act of 1933, or
          were municipal securities, certain Rule 144A securities, or certain
          foreign offerings;

     2.    the  securities were purchased prior to the end of the first full
           business day on which the issue is offered to the public, at a price
           that is not more than the price paid by each other purchaser of
           securities in that offering;

     3.   the securities were offered pursuant to a firm commitment
          underwriting;

     4.   the commission, spread or profit received or to be received by the
       principal underwriters is reasonable and fair compared to the commission,
       spread or profit received by others in connection with the underwriting
       of similar securities being sold during a comparable period of time;

     5.   the issuer of the security has been in continuous operation for not
          less than three years, or, with respect to municipal securities, the
          issuer meets certain rating requirements as set forth in the Rule;

     6.   the amount of securities of any class of such issue purchased by the
          investment company, or by two or more investment companies having the
          same investment adviser, does not exceed 25% of the principal amount
          of the offering of such class; and

     7.   the securities are purchased from a member of the syndicate other than
          the affiliated underwriter.


     The  Portfolio  Manager  of Dreyfus Premier  Municipal  Bond  Fund  has
provided  the information in the report attached hereto to enable the  Board
to  determine  that the transaction described therein has been  effected  in
compliance  with  the Procedures adopted by the Board with respect  to  such
transactions.   A copy of the form of Procedures previously adopted  by  the
Board pursuant to Rule 10f-3 is attached for your review.