UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
811-21178 |
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Robert S. Kapito, President
BlackRock Maryland Municipal Bond Trust
| Registrant's telephone number, including area code: | 888-825-2257 |
| Date of fiscal year end: | August 31 |
| Date of reporting period: | November 30, 2004 |
Item 1. Schedule of Investments.
The registrant's unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:
PORTFOLIO OF INVESTMENTS
NOVEMBER 30, 2004 (Unaudited)
BlackRock Maryland Municipal Bond Trust (BZM)
| LONG-TERM INVESTMENTS—155.1% | |||||||||||||||||||||||||
| Maryland—121.5% | |||||||||||||||||||||||||
| A3 | $ 2,870 | Anne Arundel Cnty. Econ. Dev., Cmnty. Coll. Proj., 5.25%, 9/01/28 | 09/12 @ 102 | $ 2,973,894 | |||||||||||||||||||||
| NR | 1,000 | Baltimore, Spec. Oblig. Rev., Harborview Lot No. 2 Proj., 6.50%, 7/01/31 | 07/13 @ 101 | 1,038,640 | |||||||||||||||||||||
| Baltimore Cnty., GO, | |||||||||||||||||||||||||
| AAA | 2,000 3 | Met. 67th Dist., 5.00%, 6/01/22 | 06/11 @ 101 | 2,108,880 | |||||||||||||||||||||
| AAA | 2,000 | Met. 68th Dist., 5.00%, 8/01/28 | 08/12 @ 100 | 2,049,740 | |||||||||||||||||||||
| Baltimore Wstwtr. Proj., Ser. A, FGIC, | |||||||||||||||||||||||||
| AAA | 2,000 | 5.125%, 7/01/42 | 07/12 @ 100 | 2,043,360 | |||||||||||||||||||||
| AAA | 3,500 | 5.20%, 7/01/32 | 07/12 @ 100 | 3,644,305 | |||||||||||||||||||||
| NR4 | 1,000 | Frederick Cnty., Urbana Cmnty. Dev. Auth., 6.625%, 7/01/25 | 07/07 @ 102 | 1,042,830 | |||||||||||||||||||||
| Baa3 | 1,500 | Maryland Econ. Dev. Corp., Student Hsg. Rev., Univ. of Maryland Proj., Ser. A, 5.75%, 10/01/33 | 10/13 @ 100 | 1,552,320 | |||||||||||||||||||||
| Maryland Hlth. & Higher Edl. Facs. Auth., | |||||||||||||||||||||||||
| A | 2,000 | Brd. of Child Care Proj., 5.375%, 7/01/32 | 07/12 @ 100 | 2,077,400 | |||||||||||||||||||||
| BBB+ | 1,990 | Carroll Cnty. Gen. Hosp. Proj., 6.00%, 7/01/37 | 07/12 @ 100 | 2,080,963 | |||||||||||||||||||||
| A- | 750 | Goucher Coll. Proj., 5.375%, 7/01/25 | 07/14 @ 100 | 786,885 | |||||||||||||||||||||
| AA | 2,000 | Johns Hopkins Univ. Proj., Ser. B, 5.00%, 7/01/41 | 07/11 @ 100 | 2,021,140 | |||||||||||||||||||||
| A | 2,000 | Loyola Coll. Issue Proj., 5.00%, 10/01/39 | 10/09 @ 101 | 2,006,880 | |||||||||||||||||||||
| A3 | 2,000 | Union Hosp. of Cecil Cnty. Proj., 5.625%, 7/01/32 | 07/12 @ 100 | 2,061,420 | |||||||||||||||||||||
| A | 2,000 | Univ. of Maryland Med. Sys. Proj., 5.25%, 7/01/34 | 07/11 @ 100 | 2,023,180 | |||||||||||||||||||||
| A+ | 1,905 | Maryland Ind. Dev. Fin. Auth., Econ. Dev. Rev., Nat. Aquarium Baltimore Fac., Ser. B, | |||||||||||||||||||||||
| 5.20%, 11/01/26 | 1,962,169 | ||||||||||||||||||||||||
| AAA | 2,000 | Maryland Transp. Auth., Arpt. Pkg. Rev., Baltimore/Wash Intl. Arpt. Proj., Ser. B, |
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| 5.125%, 3/01/24, AMBAC | 2,051,440 | ||||||||||||||||||||||||
| Montgomery Cnty. Lease, Metrorail Garage Proj., | |||||||||||||||||||||||||
| AA | 500 | 5.00%, 6/01/23 | 06/12 @ 100 | 521,570 | |||||||||||||||||||||
| AA | 1,435 | 5.00%, 6/01/24 | 06/12 @ 100 | 1,490,391 | |||||||||||||||||||||
| St. Marys Coll., Academic & Auxil. Fees, Ser. A, AMBAC, | |||||||||||||||||||||||||
| AAA | 1,000 | 5.00%, 9/01/27 | 09/12 @ 101 | 1,024,840 | |||||||||||||||||||||
| AAA | 1,000 | 5.00%, 9/01/32 | 09/12 @ 101 | 1,015,500 | |||||||||||||||||||||
| 37,577,747 | |||||||||||||||||||||||||
| Puerto Rico—26.2% | |||||||||||||||||||||||||
| BBB | 2,000 | Children’s Trust Fund, Tobacco Settlement Rev., 5.50%, 5/15/39 | 05/12 @ 100 | 1,809,640 | |||||||||||||||||||||
| AAA | 2,060 | Puerto Rico Elec. Pwr. Auth., Ser. HH, 5.25%, 7/01/29, FSA | 07/10 @ 101 | 2,155,399 | |||||||||||||||||||||
| Puerto Rico Hwy. & Transp. Auth., | |||||||||||||||||||||||||
| A | 2,000 | Ser. D, 5.25%, 7/01/38 | 07/12 @ 100 | 2,045,060 | |||||||||||||||||||||
| AAA | 500 | Ser. J, 5.00%, 7/01/29, MBIA | 07/14 @ 100 | 514,555 | |||||||||||||||||||||
| Puerto Rico Pub. Bldgs. Auth., Gov’t Facs., Ser. D, | |||||||||||||||||||||||||
| A- | 1,100 5 | 5.375%, 7/01/12 | N/A | 1,232,330 | |||||||||||||||||||||
| A- | 350 | 5.375%, 7/01/33 | 07/12 @ 100 | 360,626 | |||||||||||||||||||||
| 8,117,610 | |||||||||||||||||||||||||
| Multi-State—7.4% | |||||||||||||||||||||||||
| Baa1 | 2,000 6 | Charter Mac Equity Issuer Trust, Ser. B-2, 7.20%, 10/31/52 | 10/14 @ 100 | 2,279,980 | |||||||||||||||||||||
| Total Investments—155.1% (cost $45,810,480) | $ 47,975,337 | ||||||||||||||||||||||||
| Other assets in excess of liabilities—3.1% | 954,544 | ||||||||||||||||||||||||
| Preferred shares at redemption value, including dividends payable—(58.2)% | (18,003,971) | ||||||||||||||||||||||||
| Net Assets Applicable to Common Shareholders—100% | $ 30,925,910 | ||||||||||||||||||||||||
| 1 | Using the higher of S&P’s, Moody’s or Fitch’s rating. |
| 2 | Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. |
| 3 | Entire or partial principal amount pledged as collateral for financial futures contracts. |
| 4 | Security is deemed to be of investment grade quality by the investment advisor. |
| 5 | This bond is prefunded. U.S. government securities, held in escrow, are used to pay interest on this security, as well as retire the bond in full at the date indicated, typically at a premium to par. |
| 6 | Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of November 30, 2004, the Trust held 7.4% of its net assets, with a current market value of $2,279,980, in securities restricted as to resale. |
| AMBAC | — American Municipal Bond Assurance Corporation | GO | — General Obligation | |
| FGIC | — Financial Guaranty Insurance Company | MBIA | — Municipal Bond Insurance Association | |
| FSA | — Financial Security Assurance | |||
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Item 2. Controls and Procedures.
(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrant's disclosure controls and procedures are effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely.
(b) The registrant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 3. Exhibits.Separate certifications of the registrant's principal executive and financial officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| (Registrant) | BlackRock Maryland Municipal Bond Trust |
| By: | /s/ Henry Gabbay |
| Name: Henry Gabbay Title: Treasurer Date: January 20, 2005 |
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Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By: | /s/ Robert S. Kapito |
| Name: Robert S. Kapito Title: Principal Executive Officer Date: January 20, 2005 |
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| By: | /s/ Henry Gabbay |
| Name: Henry Gabbay Title: Principal Executive Officer Date: January 20, 2005 |
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