0000844779-16-000238.txt : 20160928 0000844779-16-000238.hdr.sgml : 20160928 20160928110343 ACCESSION NUMBER: 0000844779-16-000238 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 8 CONFORMED PERIOD OF REPORT: 20160731 FILED AS OF DATE: 20160928 DATE AS OF CHANGE: 20160928 EFFECTIVENESS DATE: 20160928 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK MUNIYIELD QUALITY FUND III, INC. CENTRAL INDEX KEY: 0000883412 IRS NUMBER: 223165131 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-06540 FILM NUMBER: 161906040 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: BLACKROCK MUNIYIELD QUALITY FUND III, INC DATE OF NAME CHANGE: 20101109 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK MUNIYIELD INSURED FUND, INC DATE OF NAME CHANGE: 20070612 FORMER COMPANY: FORMER CONFORMED NAME: MUNIYIELD INSURED FUND INC DATE OF NAME CHANGE: 19920717 NSAR-B 1 answer.fil PAGE 1 000 B000000 07/31/2016 000 C000000 0000883412 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 BLACKROCK MUNIYIELD QUALITY FUND III, INC. 001 B000000 811-06540 001 C000000 8004417762 002 A000000 100 BELLEVUE PARKWAY 002 B000000 WILMINGTON 002 C000000 DE 002 D010000 19809 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 N 007 B000000 0 007 C010100 1 008 A000001 BLACKROCK ADVISORS, LLC 008 B000001 A 008 C000001 801-47710 008 D010001 WILMINGTON 008 D020001 DE 008 D030001 19809 012 A000001 COMPUTERSHARE TRUST COMPANY, N.A. (COMMON) 012 B000001 85-11340 012 C010001 CANTON 012 C020001 MA 012 C030001 02021 012 A000002 THE BANK OF NEW YORK MELLON (PREFERRED) 012 B000002 85-05006 012 C010002 NEW YORK 012 C020002 NY 012 C030002 10289 013 A000001 DELOITTE & TOUCHE LLP 013 B010001 BOSTON 013 B020001 MA 013 B030001 02116 014 A000001 BLACKROCK EXECUTION SERVICES 014 B000001 8-48719 014 A000002 BLACKROCK INVESTMENTS, LLC 014 B000002 8-48436 014 A000003 HARRIS WILLIAMS LLC 014 B000003 8-53380 014 A000004 PNC CAPITAL MARKETS, INC. 014 B000004 8-32493 PAGE 2 014 A000005 PNC INVESTMENTS LLC 014 B000005 8-66195 014 A000006 SOLEBURY CAPITAL, LLC 014 B000006 8-67548 015 A000001 STATE STREET BANK & TRUST COMPANY 015 B000001 C 015 C010001 BOSTON 015 C020001 MA 015 C030001 02110 015 E010001 X 018 000000 Y 019 A000000 Y 019 B000000 272 019 C000000 BLKRKADVSR 020 A000001 BANK OF AMERICA CORP 020 B000001 56-0906609 020 C000001 8 021 000000 8 022 A000001 BLACKROCK LIQUIDITY FUNDS, MUNICASH 022 B000001 52-0983343 022 C000001 80920 022 D000001 75811 022 A000002 FFI INSTITUTIONAL TAX-EXEMPT FUND 022 B000002 22-2509978 022 C000002 65920 022 D000002 73514 022 A000003 CITIGROUP GLOBAL MARKETS INC. 022 B000003 11-2418191 022 C000003 49735 022 D000003 18110 022 A000004 BARCLAYS CAPITAL INC. 022 B000004 06-1031656 022 C000004 31093 022 D000004 25065 022 A000005 BANK OF AMERICA CORP 022 B000005 56-0906609 022 C000005 31344 022 D000005 12908 022 A000006 MORGAN STANLEY 022 B000006 36-3145972 022 C000006 15255 022 D000006 19383 022 A000007 WELLS FARGO BANK NA 022 B000007 94-1347393 022 C000007 7277 022 D000007 6757 022 A000008 RAYMOND JAMES & ASSOCIATES, INC. 022 B000008 59-1237041 022 C000008 4146 022 D000008 8243 022 A000009 GOLDMAN SACHS & CO PAGE 3 022 B000009 13-5108880 022 C000009 1663 022 D000009 6940 022 A000010 PERSHING LLC 022 B000010 13-2741729 022 C000010 5964 022 D000010 2443 023 C000000 326886 023 D000000 282469 024 000000 N 026 A000000 N 026 B000000 N 026 C000000 N 026 D000000 Y 026 E000000 N 026 F000000 N 026 G010000 N 026 G020000 N 026 H000000 N 027 000000 N 028 A010000 0 028 A020000 0 028 A030000 0 028 A040000 0 028 B010000 0 028 B020000 0 028 B030000 0 028 B040000 0 028 C010000 0 028 C020000 0 028 C030000 0 028 C040000 0 028 D010000 0 028 D020000 0 028 D030000 0 028 D040000 0 028 E010000 0 028 E020000 0 028 E030000 0 028 E040000 0 028 F010000 0 028 F020000 0 028 F030000 0 028 F040000 0 028 G010000 0 028 G020000 0 028 G030000 0 028 G040000 0 028 H000000 0 030 A000000 0 030 B000000 0.00 PAGE 4 030 C000000 0.00 031 A000000 0 031 B000000 0 032 000000 0 033 000000 0 035 000000 0 036 B000000 0 038 000000 0 042 A000000 0 042 B000000 0 042 C000000 0 042 D000000 0 042 E000000 0 042 F000000 0 042 G000000 0 042 H000000 0 043 000000 0 044 000000 0 045 000000 Y 046 000000 N 047 000000 Y 048 000000 0.500 048 A010000 0 048 A020000 0.000 048 B010000 0 048 B020000 0.000 048 C010000 0 048 C020000 0.000 048 D010000 0 048 D020000 0.000 048 E010000 0 048 E020000 0.000 048 F010000 0 048 F020000 0.000 048 G010000 0 048 G020000 0.000 048 H010000 0 048 H020000 0.000 048 I010000 0 048 I020000 0.000 048 J010000 0 048 J020000 0.000 048 K010000 0 048 K020000 0.000 049 000000 N 050 000000 N 051 000000 N 052 000000 N 053 A000000 Y 053 B000000 Y 053 C000000 N PAGE 5 054 A000000 Y 054 B000000 Y 054 C000000 N 054 D000000 N 054 E000000 N 054 F000000 N 054 G000000 N 054 H000000 Y 054 I000000 N 054 J000000 Y 054 K000000 N 054 L000000 N 054 M000000 Y 054 N000000 N 055 A000000 Y 055 B000000 N 056 000000 Y 057 000000 N 058 A000000 N 059 000000 Y 060 A000000 N 060 B000000 N 061 000000 0 062 A000000 Y 062 B000000 0.0 062 C000000 0.0 062 D000000 0.0 062 E000000 0.0 062 F000000 0.0 062 G000000 0.0 062 H000000 0.0 062 I000000 0.0 062 J000000 0.0 062 K000000 0.0 062 L000000 0.5 062 M000000 0.0 062 N000000 0.0 062 O000000 157.3 062 P000000 0.0 062 Q000000 0.0 062 R000000 0.0 063 A000000 0 063 B000000 19.5 064 A000000 Y 064 B000000 N 066 A000000 N 067 000000 N 068 A000000 N 068 B000000 N 069 000000 N 070 A010000 Y PAGE 6 070 A020000 N 070 B010000 N 070 B020000 N 070 C010000 Y 070 C020000 N 070 D010000 N 070 D020000 N 070 E010000 Y 070 E020000 Y 070 F010000 N 070 F020000 N 070 G010000 Y 070 G020000 N 070 H010000 N 070 H020000 N 070 I010000 N 070 I020000 N 070 J010000 N 070 J020000 N 070 K010000 Y 070 K020000 Y 070 L010000 N 070 L020000 N 070 M010000 N 070 M020000 N 070 N010000 Y 070 N020000 N 070 O010000 Y 070 O020000 N 070 P010000 Y 070 P020000 N 070 Q010000 N 070 Q020000 N 070 R010000 N 070 R020000 N 071 A000000 180045 071 B000000 168873 071 C000000 1611250 071 D000000 10 072 A000000 12 072 B000000 72004 072 C000000 6 072 D000000 0 072 E000000 0 072 F000000 8147 072 G000000 158 072 H000000 0 072 I000000 78 072 J000000 60 072 K000000 0 072 L000000 17 PAGE 7 072 M000000 132 072 N000000 23 072 O000000 0 072 P000000 5872 072 Q000000 0 072 R000000 72 072 S000000 129 072 T000000 0 072 U000000 0 072 V000000 0 072 W000000 124 072 X000000 14812 072 Y000000 2 072 Z000000 57200 072AA000000 0 072BB000000 711 072CC010000 50664 072CC020000 0 072DD010000 59486 072DD020000 0 072EE000000 0 073 A010000 0.8762 073 A020000 0.0000 073 B000000 0.0000 073 C000000 0.0000 074 A000000 707 074 B000000 0 074 C000000 0 074 D000000 1656436 074 E000000 0 074 F000000 0 074 G000000 0 074 H000000 0 074 I000000 5108 074 J000000 2296 074 K000000 2 074 L000000 17574 074 M000000 49 074 N000000 1682172 074 O000000 4680 074 P000000 706 074 Q000000 0 074 R010000 0 074 R020000 0 074 R030000 0 074 R040000 267651 074 S000000 355903 074 T000000 1053232 074 U010000 67989 074 U020000 0 074 V010000 15.49 PAGE 8 074 V020000 0.00 074 W000000 0.0000 074 X000000 24926 074 Y000000 49226 075 A000000 0 075 B000000 1021672 076 000000 15.63 077 A000000 Y 077 B000000 Y 077 I000000 Y 077 O000000 Y 077 Q010000 Y 078 000000 N 080 A000000 FEDERAL INSURANCE COMPANY 080 B000000 St. Paul Fire & Marine Insurance Company 080 C000000 61025 081 A000000 Y 081 B000000 74 082 A000000 N 082 B000000 0 083 A000000 N 083 B000000 0 084 A000000 N 084 B000000 0 085 A000000 Y 085 B000000 N 086 A010000 127 086 A020000 1944 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 0 087 A010000 COMMON STOCK 087 A020000 09254E103 087 A030000 MYI 087 B010000 PREFERRED STOCK 088 A000000 N 088 B000000 N 088 C000000 N 088 D000000 Y SIGNATURE NEAL J. ANDREWS TITLE CFO EX-99.77O RULE 10F-3 2 biral77o.txt [LOGO] 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 Income Quality Trust (BYM) BlackRock MuniYield Quality Fund II, Inc. (MQT) BlackRock MuniYield Quality Fund III, Inc. (MYI) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 11-18-2015 Security Type: BND/MUNI Issuer City of Birmingham Alabama Series 2015-A1 and A2 Selling Underwriter Loop Capital Markets Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Loop Capital Markets, PNC Capital Markets LLC, Frazer Lanier Company Incorporated, Securities Capital Corporation TRANSACTION DETAILS Date of Purchase 11-18-2015 Purchase Price/Share $92.607 Total Commission, Spread or Profit 0.70582 (PER SHARE / % OF PAR)
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 NA ----------- 2. Aggregate Principal Amount of Offering $38,051,900 ----------- FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.131399
Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO] 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: 12-23-2015 ------------------------------------ Global Syndicate Team Member Approved by: Betsy Mathews, Steven DeLaura Date: 12-23-2015 ------------------------------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO] 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] 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] 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 3 illtoll77o.txt [LOGO] 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 AMT-FREE MUNI BOND ETF (ISHMUNI) BlackRock Strategic Municipal Opportunities Fund of BlackRock Series Trust (BR-SMO-MAC) BlackRock Municipal Income Investment Quality Trust (BAF) BlackRock National Municipal Fund of Blackrock Municipal Bond Fund, Inc.( BR-NATL) BlackRock Long-Term Municipal Advantage Trust (BTA) BlackRock Municipal Income Quality Trust (BYM) BlackRock MuniEnhanced Fund, Inc. (MEN) BlackRock MuniYield Quality Fund II, Inc. (MQT) BlackRock MuniYield Quality Fund, Inc. (MQY) BlackRock MuniHoldings Quality Fund II, Inc. (MUE) BlackRock MuniVest Fund, Inc. (MVF) BlackRock MuniYield Quality Fund III, Inc. (MYI) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 11-19-2015 Security Type: BND/MUNI Issuer The Illinois State Toll Highway Authority-Toll highway senior revenue bonds, 2015-B Selling Underwriter SAMUEL A. RAMIREZ & CO., INC Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Barclays Capital Inc, Ramirez & Co., Inc., J.P. Morgan Securities LLC, Goldman, Sachs & Co, Fifth Third Securities, Inc., Oppenheimer & Co., Piper Jaffray & Co., PNC Capital Markets LLC, Stifel, Nicolaus & Company, Inc. TRANSACTION DETAILS Date of Purchase 11-19-2015 Purchase Price/Share $112.243 Total Commission, Spread or Profit (PER SHARE / % OF PAR) (3.54) $111.795 0.2898 (3.59) $111.260 (3.65)
Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO] BLACKROCK 1. Aggregate Principal Amount Purchased (a+b) $ 42,000,000 ------------ a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 40,000,000 ------------ b. Other BlackRock Clients $ 2,000,000 ------------ 2. Aggregate Principal Amount of Offering $400,000,000 ------------ FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.1050
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: 11-24-2015 ------------------------------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 11-24-2015 ------------------------------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO] 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] 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] 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 met77o.txt [LOGO] 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 Offering Commencement: 07-21-2016 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] 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 Total Commission, Spread or Profit 0.463% (PER SHARE / % OF PAR) $122.685
1. Aggregate Principal Amount Purchased (a+b) $104,350,000 ------------ a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 87,500,000 ------------ b. Other BlackRock Clients $ 16,850,000 ------------ 2. Aggregate Principal Amount of Offering $534,200,000 ------------ FUND RATIO [Divide Sum of #1 by #2] 0.19533 Must be less than 0.25
Rule 10f-3 Report - Definitions [LOGO] 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: Date: ------------------------------------ Global Syndicate Team Member
Rule 10f-3 Report - Definitions [LOGO] 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] 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] BLACKROCK TERM DEFINITION U.S. Registered Public The securities offered are registered under Offering. the Securities Act of 1933 that are being offered to the public. EX-99.77B ACCT LTTR 5 mh477b.txt REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM TO THE SHAREHOLDERS AND BOARD OF DIRECTORS OF BLACKROCK MUNIHOLDINGS QUALITY FUND II, INC., BLACKROCK MUNIYIELD CALIFORNIA QUALITY FUND, INC., BLACKROCK MUNIYIELD NEW YORK QUALITY FUND, INC. AND BLACKROCK MUNIYIELD QUALITY FUND III, INC.: In planning and performing our audits of the financial statements of BlackRock MuniHoldings Quality Fund II, Inc., BlackRock MuniYield California Quality Fund, Inc., BlackRock MuniYield New York Quality Fund, Inc. and BlackRock MuniYield Quality Fund III, Inc. (individually a "Fund" and collectively, the "Funds"), as of and for the year ended July 31, 2016, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Funds' 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 Funds' internal control over financial reporting. Accordingly, we express no such opinion. The management of the Funds 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 Fund'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 fund'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 fund; (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 Funds are being made only in accordance with authorizations of management and directors of the Funds; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a Fund'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 Funds' annual or interim financial statements will not be prevented or detected on a timely basis. Our consideration of the Funds' 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 Funds' internal control over financial reporting and its operation, including controls for safeguarding securities, that we consider to be a material weakness, as defined above, as of July 31, 2016. This report is intended solely for the information and use of management and the Board of Directors of BlackRock MuniHoldings Quality Fund II, Inc., BlackRock MuniYield California Quality Fund, Inc., BlackRock MuniYield New York Quality Fund, Inc. and BlackRock MuniYield Quality Fund III, Inc., 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 September 26, 2016 EX-99.77I NEW SECUR 6 myi77i.txt BlackRock MuniYield Quality Fund III, Inc. (the "Fund") File No. 811-06540 Item No. 77I (Terms of New or Amended Securities) -- Attachment A copy of the Amendment to the Notice of Special Rate Period of the Fund's Variable Rate Demand Preferred Shares is attached under Sub-Item 77Q1(a). EX-99.77Q1 OTHR EXHB 7 myi77q1a.txt BlackRock MuniYield Quality Fund III, Inc. (the "Fund") File No. 811-06540 Item No. 77Q1(a) (Copies of Material Amendments to Registrant's Charter or By-laws) -- Attachment Attached please find as an exhibit under Sub-Item 77Q1(a) of Form N-SAR, a copy of the Fund's Amendment to the Notice of Special Rate Period of the Fund's Variable Rate Demand Preferred Shares filed with the books and records of the Fund on June 7, 2016. 1 Exhibit 77Q1(a) BLACKROCK MUNIYIELD QUALITY FUND III, INC. (THE "FUND") SERIES W-7 VARIABLE RATE DEMAND PREFERRED SHARES ("VRDP SHARES") CUSIP NO. 09254E863* AMENDMENT TO NOTICE OF SPECIAL RATE PERIOD June 7, 2016 BlackRock MuniYield Quality Fund III, Inc. 100 Bellevue Parkway Wilmington, Delaware 19809 TO: Addressees listed on Schedule 1 hereto In accordance with the Fund's Articles Supplementary Establishing and Fixing the Rights and Preferences of Variable Rate Demand Preferred Shares, dated May 17, 2011 (the "ARTICLES SUPPLEMENTARY"), the Fund hereby notifies the Liquidity Provider, the Remarketing Agent and the Holders of the VRDP Shares that the last day of the Special Rate Period has been extended from June 22, 2016 to June 21, 2017 in accordance with the terms of the Notice of Special Rate Period, dated June 20, 2012 (the "NOTICE OF SPECIAL RATE PERIOD"). The last day of the Special Rate Period shall be June 21, 2017, or such later date as the Special Rate Period may be extended pursuant to the terms of the Notice of Special Rate Period. Capitalized terms used but not defined in this Amendment to Notice of Special Rate Period shall have the meanings given to such terms in the Articles Supplementary and the Notice of Special Rate Period. [Signature Page Follows] -------- * NOTE: Neither the Fund nor the Tender and Paying Agent shall be responsible for the selection or use of the CUSIP Numbers selected, nor is any representation made as to its correctness indicated in any notice or as printed on any VRDP Share certificate. It is included solely as a convenience to Holders of VRDP Shares. 2 IN WITNESS WHEREOF, I have signed this Amendment to the Notice of Special Rate Period as of the date first written above. BLACKROCK MUNIYIELD QUALITY FUND III, INC. By: /s/ Jonathan Diorio -------------------------------------- Name: Jonathan Diorio Title: Vice President 3 SCHEDULE 1 RECIPIENTS OF THIS NOTICE OF SPECIAL RATE PERIOD Citibank, N.A. 390 Greenwich Street, 2nd Floor New York, New York 10013 Attention: MSD Middle Office Manager Telephone: (212) 723-6320 Fax: (212) 723-8642 Email: msdcititob@citi.com Citigroup Global Markets Inc. 390 Greenwich Street New York, New York 10013 Attention: Middle Office Manager Telephone: (212) 723-7124 Fax: (212) 723-8642 Email: msdcititob@citi.com The Depository Trust Company LensNotice@dtcc.com EX-99.77Q1 OTHR EXHB 8 myi77q1d.txt BlackRock MuniYield Quality Fund III, Inc. (the "Fund") File No. 811-06540 Item No. 77Q1(d) (Copies of All Constituent Instruments Referred to in Sub-Item 77I) -- Attachment A copy of the Amendment to the Notice of Special Rate Period of the Fund's Variable Rate Demand Preferred Shares is attached under Sub-Item 77Q1(a).