UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number 811-21181

 

Name of Fund:  BlackRock Municipal 2020 Term Trust (BKK)

 

Fund Address:  100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Municipal 2020 Term Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

 

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

 

Date of fiscal year end: 12/31/2007

Date of reporting period: 07/01/2007 - 09/30/2007

 



Item 1 – Schedule of Investments

PORTFOLIO OF INVESTMENTS (unaudited)
SEPTEMBER 30, 2007
 BlackRock Municipal 2020 Term Trust (BKK) 
(Percentages shown are based on Net Assets)

Principal
           
Amount
               
(000)
  Description    
Value
 
      LONG-TERM INVESTMENTS—155.5%          
      Alabama—0.4%        
$ 1,165   Courtland Indl. Dev. Brd., Indl. RB, Intl.        
         Paper Co. Proj., Ser. A, 4.75%, 5/01/17   $ 1,164,068  
      California—23.6%        
  12,000   Cash Flow Mgmt. Ad Valorem Ppty. Tax        
         GO, 5.00%, 11/01/22     12,504,240  
      Foothill Eastn. Transp. Corridor Agcy.,        
      Hwy. Tolls RB, Cap. Apprec. Proj.,        
  12,500      Zero Coupon, 1/15/21     5,948,875  
  10,000      Zero Coupon, 1/15/22     4,468,600  
      Golden St. Tobacco Sec. Corp., Misc. Purps.        
      Tobacco Settlement Funded RB,        
  3,000 1    Ser. A-1, 6.625%, 6/01/13     3,458,550  
  12,010 1    Ser. A-1, 6.75%, 6/01/13     13,922,112  
  975 1    Ser. A-3, 7.875%, 6/01/13     1,182,685  
  1,470 1    Ser. A-5, 7.875%, 6/01/13     1,783,125  
  20,000 1    Ser. B, 5.375%, 6/01/10     20,943,400  
  6,865   Riverside Cnty. Asset Leasing Corp., Hlth.,        
         Hosp. & Nursing Home Impvts. RB,        
         Riverside Cnty. Hosp. Proj., Zero        
         Coupon, 6/01/25, MBIA     2,973,643  
  5,000   Statewide Cmntys. Dev. Auth., Hlth., Hosp.        
     
   & Nursing Home Impvts. RB, John Muir
       
         Hlth. Proj., Ser. A, 5.00%, 8/15/22     5,122,200  
            72,307,430  
      Colorado—1.7%        
  4,500   E-470 Pub. Hwy. Auth., Cap. Apprec. Hwy.        
         Impvt. Tolls RB, Ser. B, Zero Coupon,        
         9/01/22, MBIA     2,282,580  
  3,000   Pk. Creek Met. Dist., Misc. RB, 5.25%,        
         12/01/25     3,063,840  
            5,346,420  
      District of Columbia—5.1%        
  5,000   Met. Washington Arpts. Auth., Port, Arpt. &        
         Marina RB, Ser. C-2, 5.00%, 10/01/24,        
         FSA, AMT     5,112,650  
      Misc. RB, Friendship Pub. Charter Sch., Inc.        
      Proj.,        
  3,320      5.00%, 6/01/23, ACA     3,287,763  
  2,680      5.75%, 6/01/18, ACA     2,831,581  
  4,215   Tobacco Settlement Fing. Corp., Tobacco        
         Settlement Funded RB, 6.50%, 5/15/33     4,505,961  
            15,737,955  
      Florida—13.2%        
  4,510   Bellago Edl. Facs. Benefit Dist., Sch.        
         Impvts. SA, Ser. A, 5.85%, 5/01/22     4,556,318  
  3,000   CFM Cmnty. Dev. Dist., Pub. Impvts. SA,        
         Ser. B, 5.875%, 5/01/14     2,963,610  
  4,185   Grand Hampton Cmnty. Dev. Dist., Pub.        
         Impvts. Misc. RB, 6.10%, 5/01/24     4,491,551  
  3,905   Habitat Cmnty. Dev. Dist., Pub. Impvts. SA,        
         5.80%, 5/01/25     3,858,140  
  5,475   Miami Beach Hlth. Facs. Auth., Hlth., Hosp.        
         & Nursing Home Impvts. RB, Mt. Sinai        
         Med. Ctr. Proj., 6.75%, 11/15/21     6,043,360  
  4,345   Middle Vlg. Cmnty. Dev. Dist., Econ.        
         Impvts. SA, Ser. A, 5.80%, 5/01/22     4,363,249  
  730   Pine Island Cmnty. Dev. Dist., Pub. Impvts.        
         Misc. RB, 5.30%, 11/01/10     730,102  
  4,455   Stevens Plantation Cmnty. Dev. Dist., Pub.        
         Impvts. SA, Ser. B, 6.375%, 5/01/13     4,507,480  
  3,095   Vlg. Cmnty. Dev. Dist. No. 5, Pub. Impvts.        
         SA, Ser. A, 6.00%, 5/01/22     3,346,252  
Principal
           
Amount
                 
(000)
  Description    
Value
 
      Florida— (cont'd)        
$ 5,605   Westchester Cmnty. Dev. Dist. No. 1, Pub.        
         Impvts. SA, 6.00%, 5/01/23   $ 5,665,310  
            40,525,372  
      Georgia—1.7%        
  2,500 1 Milledgeville & Baldwin Cnty. Dev. Auth.,        
         Univ. & Coll. Impvts. RB, Georgia Coll.        
         & St. Univ. Fndtn. Proj., 5.50%, 9/01/14     2,793,625  
  2,350   Richmond Cnty. Dev. Auth., Mult. Util.        
         Impvts. Misc. RB, Intl. Paper Co. Proj.,        
         5.75%, 11/01/27, AMT     2,386,002  
            5,179,627  
      Illinois—12.8%        
  2,155 2,3 Centerpoint Intermodal Ctr. Prog. Trust TA,        
         Ser. A, 8.00%, 6/15/23     2,156,875  
      Chicago O'Hare Intl. Arpt., Port, Arpt. &        
      Marina Impvts. RB,        
  5,000      Ser. A, 5.00%, 1/01/21, AMBAC     5,240,800  
  7,000      Ser. A, 5.00%, 1/01/22, AMBAC     7,312,410  
  4,800   Edl. Facs. Auth., Univ. & Coll. Impvts. RB,        
         Northwestern Univ. Proj., 5.00%,        
         12/01/21     4,996,080  
      Fin. Auth., Univ. & Coll. Impvts. RB,        
  5,000      DePaul Univ. Proj., Ser. C, 5.25%,        
         10/01/24     5,108,650  
  2,725      MJH Ed. Asst. Living Proj., Ser. A,        
         5.00%, 6/01/24     2,466,725  
  3,250      MJH Ed. Asst. Living Proj., Ser. A,        
         5.50%, 6/01/19     3,167,840  
  1,075      MJH Ed. Asst. Living Proj., Ser. B,        
         5.00%, 6/01/24     921,995  
  1,000   Lake Cook-Dane & McHenry Cntys.        
     
   Cmnty. Unit Sch. Dist. 220, Ad Valorem
       
         Ppty. Tax GO, 5.25%, 12/01/20, FSA     1,107,500  
  13,455   Met. Pier & Expo. Auth., Misc. Taxes RB,        
         McCormick Place Expansion Proj., Ser.        
         A, Zero Coupon, 6/15/22, MBIA     6,920,579  
            39,399,454  
      Indiana—4.9%        
  10,000   Indianapolis Arpt. Auth., Port, Arpt. &        
         Marina RB, FedEx Corp. Proj., 5.10%,        
         1/15/17, AMT     10,225,200  
  4,975   Vincennes, Econ. Dev. RB, Southwest        
         Indiana Regl. Youth Proj., 6.25%, 1/01/24     4,933,857  
            15,159,057  
      Kansas—1.2%        
  6,440   Wyandotte Cnty.-Kansas City Unified        
         Gov't., Recreational Fac. Impvts. Sales        
         Tax RB, Intl. Speedway Proj., Zero        
         Coupon, 12/01/20, MBIA     3,512,311  
      Kentucky—0.6%        
  2,000   Hsg. Corp., St. Sngl. Hsg. Local or Gtd.        
         Hsg. RB, Ser. C, 4.625%, 7/01/22, AMT     1,944,600  
      Louisiana—0.7%        
  2,000   Desoto Parish, Mult. Util. Impvts. Misc. RB,        
         Intl. Paper Co. Proj., Ser. A, 5.85%,        
         11/01/27, AMT     2,046,500  
      Maryland—5.5%        
      Frederick Cnty., Pub. Impvts. ST, Urbana        
      Cmnty. Dev. Auth. Proj.,        
  3,000      6.625%, 7/01/25     3,053,490  
  4,950      Ser. A, 5.80%, 7/01/20     4,983,115  


1

 BlackRock Municipal 2020 Term Trust (BKK) (continued) 
(Percentages shown are based on Net Assets)

Principal
               
Amount
             
(000)
  Description    
Value
 
 
  Maryland— (cont'd)        
$
8,500
  Hlth. & Higher Edl. Facs. Auth., Hlth.,        
 
     Hosp. & Nursing Home RB, Medstar        
 
     Hlth., Inc. Proj., 5.375%, 8/15/24   $ 8,730,435  
 
        16,767,040  
 
  Massachusetts—1.5%        
 
4,500
  Dev. Fin. Agcy., Rec. Recovery Impvts. RB,        
 
     Wst. Mgmt., Inc. Proj., 5.45%, 6/01/14,        
 
     AMT     4,696,380  
 
  Michigan—0.5%        
 
1,500
  Hosp. Fin. Auth., Hlth., Hosp. & Nursing        
 
     Home RB, Edward W. Sparrow Hosp.        
 
     Proj., 4.50%, 11/15/26     1,402,965  
 
  Minnesota—0.4%        
 
1,250
  Higher Ed. Facs. Auth., Univ. & Coll.        
     
   Impvts. RB, Univ. of Saint Thomas Proj.,
       
 
     Ser. 5, 5.00%, 10/01/24     1,274,412  
 
  Mississippi—1.0%        
 
3,000
  Warren Cnty., Mult. Util. Impvts. Misc. RB,        
 
     Intl. Paper Co. Proj., Ser. A, 5.85%,        
 
     11/01/27, AMT     3,077,550  
 
  Missouri—3.5%        
 
5,000
  Dev. Fin. Brd., Econ. Impvts. RB, Branson        
 
     Landing Proj., Ser. A, 5.50%, 12/01/24     5,046,800  
 
5,500
  Hlth. & Edl. Facs. Auth., Hlth., Hosp. &        
     
   Nursing Home RB, BJC Hlth. Sys. Proj.,
       
 
     Ser. A, 5.00%, 5/15/20     5,661,315  
 
        10,708,115  
 
  Multi-State—7.5%        
 
  Charter Mac Equity Issuer Trust,        
 
1,000
 2,4    Ser. A-4-1, 5.75%, 4/30/15     1,069,650  
 
2,500
 2,4    Ser. A-4-2, 6.00%, 4/30/19     2,719,525  
 
4,000
 2,4    Ser. B-3-1, 6.00%, 4/30/15     4,248,640  
 
2,500
 2,4    Ser. B-3-2, 6.30%, 4/30/19     2,707,000  
 
  Munimae TE Bd. Subsidiary LLC,        
 
5,000
 2    Ser. A, 5.40%, 6/30/49     5,100,650  
 
5,000
 2    Ser. A, 5.80%, 6/30/49     5,155,700  
 
2,000
 2    Ser. D, 5.90%, 11/29/49     2,078,060  
 
        23,079,225  
 
  Nevada—2.3%        
 
1,765
  City of Henderson, Pub. Impvts. SA, Local        
 
     Impvt. No. T-18 Proj., 5.15%, 9/01/21     1,706,367  
 
5,000
  Cnty. of Clark, Private Schs. RB, Alexander        
 
     Dawson Sch. Rainbow Proj., 5.00%,        
 
     5/15/20     5,180,550  
 
        6,886,917  
 
  New Hampshire—5.0%        
 
10,000
  Bus. Fin. Auth., Indl. RB, Pub. Svc. Co.        
 
     Proj., Ser. B, 4.75%, 5/01/21, MBIA,        
 
     AMT     10,070,100  
 
5,000
  Hlth. & Ed. Facs. Auth., Hlth., Hosp. &        
     
   Nursing Home RB, Elliot Hosp. Proj., Ser.
       
 
     B, 5.60%, 10/01/22     5,219,850  
 
        15,289,950  
 
  New Jersey—12.3%        
 
  Econ. Dev. Auth.,        
 
7,500
     Econ. Impvts. Elec., Pwr. & Lt. RB,        
 
     Kapkowski Rd. Landfill Proj., 6.50%,        
 
     4/01/31, AMT     8,402,700  
   
11,500
     Econ. Impvts. Misc. RB, Cigarette Tax        
 
     Proj., 5.50%, 6/15/24     11,776,690  
 
1,000
     Hlth., Hosp. & Nursing Home RB,        
     
   Winchester Gardens Proj., Ser. A, 4.80%,
       
 
     11/01/13     1,007,150  
Principal
               
Amount
           
(000)
  Description      
Value
 
 
  New Jersey— (cont'd)        
$
5,000
3    Port, Arpt. & Marina Impvts. RB, Contl.        
 
     Airlines, Inc. Proj., 7.00%, 11/15/30,        
 
     AMT   $ 5,201,400  
 
1,500
3    Port, Arpt. & Marina Impvts. RB, Contl.        
 
     Airlines, Inc. Proj., 9.00%, 6/01/33, AMT     1,732,470  
 
  Hlth. Care Facs. Fing. Auth., Hlth., Hosp. &        
 
     Nursing Home RB,        
 
2,110
     Atlanticare Regl. Med. Ctr. Proj., 5.00%,        
 
     7/01/20     2,185,686  
 
4,000
     Cap. Hlth. Sys., Inc. Proj., Ser. A, 5.75%,        
 
     7/01/23     4,160,320  
 
2,500
  Hsg. & Mtg. Fin. Agcy., St. Sngl. Fam. Hsg.        
 
     Local or Gtd. Hsg. RB, Ser. T, 4.55%,        
 
     10/01/22, AMT     2,403,650  
 
1,000
  Middlesex Cnty. Impvt. Auth., Univ. &        
 
     Coll. Impvts. RB, Student Hsg. Urban        
 
     Renewal Proj., Ser. A, 5.00%, 8/15/23     1,012,130  
 
        37,882,196  
 
  New York—8.4%        
 
8,500
  Energy Research & Dev. Auth., Natural Gas        
 
     RB, Brooklyn Union Gas Co. Proj., Ser.        
 
     A, 4.70%, 2/01/24, FGIC, AMT     8,403,015  
 
  New York City Indl. Dev. Agcy., Port, Arpt.        
 
  & Marina Impvts. RB, American Airlines,        
 
  Inc./JFK Intl. Arpt. Proj.,        
 
5,635
3    7.625%, 8/01/25, AMT     6,386,540  
 
5,000
3    7.75%, 8/01/31, AMT     5,709,650  
 
5,000
  Tobacco Settlement Fing. Auth., Hsg.        
     
   Tobacco Settlement Funded RB, Ser. B1-
       
 
     C, 5.50%, 6/01/20     5,343,100  
 
        25,842,305  
 
  Ohio—5.0%        
 
  Cnty. of Cuyahoga, Hlth., Hosp. & Nursing        
     
   Home RB, Cleveland Clinic Fndtn. Proj.,
       
 
3,000
     6.00%, 1/01/19     3,308,910  
 
10,000
     6.00%, 1/01/20     11,029,700  
 
1,100
  Pinnacle Cmnty. Infrastructure Fing. Auth.,        
 
     Hsg. Misc. RB, Ser. A, 6.00%, 12/01/22     1,130,624  
 
        15,469,234  
 
  Oklahoma—1.2%        
 
3,350
3 Tulsa Mun. Arpt. Trust, Port, Arpt. &        
 
     Marina Impvts. RB, AMR Corp. Proj.,        
 
     Ser. A, 7.75%, 6/01/35, AMT     3,723,391  
 
  Pennsylvania—5.4%        
 
6,680
  Higher Edl. Facs. Auth., Univ. & Coll.        
     
   Impvts. RB, La Salle Univ. Proj., 5.50%,
       
 
     5/01/26     6,860,493  
 
7,500
1 Lancaster Cnty. Hosp. Auth., Hlth., Hosp. &        
 
     Nursing Home Impvts. RB, Lancaster        
 
     Gen. Hosp. Proj., 5.75%, 9/15/13     8,337,150  
 
1,275
  Montgomery Cnty. Indl. Dev. Auth., Hlth.,        
     
   Hosp. & Nursing Home RB, Whitemarsh
       
 
     Continuing Care Proj., 6.00%, 2/01/21     1,306,021  
 
        16,503,664  
 
  Puerto Rico—5.0%        
 
3,300
  Comnwlth., Pub. Impvts. Ad Valorem Ppty.        
 
     Tax GO, Ser. B, 5.25%, 7/01/17     3,529,053  
 
10,900
1 Elec. Pwr. Auth., Elec., Pwr. & Lt. Impvts.        
 
     RB, Ser. NN, 5.125%, 7/01/13     11,780,502  
 
        15,309,555  
 
  Rhode Island—1.5%        
 
4,500
1 Hlth. & Edl. Bldg. Corp., Hlth., Hosp. &        
 
     Nursing Home RB, Ser. A, 5.875%,        
 
     9/15/08     4,595,625  


2

 BlackRock Municipal 2020 Term Trust (BKK) (continued) 
(Percentages shown are based on Net Assets)

Principal
           
Amount
               
(000)
  Description      
Value
 
      Tennessee—3.4%        
$ 10,000   Energy Acquisition Corp., Natural Gas Util.        
         Impvts. RB, Ser. A, 5.25%, 9/01/20   $ 10,419,500  
      Texas—6.1%        
  1,100 3 Brazos River Auth., Elec., Pwr. & Lt. RB,        
         TXU Energy Co. LLC Proj., Ser. A,        
         6.75%, 4/01/38, AMT     1,138,049  
  3,500   Port Corpus Christi Indl. Dev. Corp., Indl.        
         RB, Valero Energy Corp. Proj., Ser. C,        
         5.40%, 4/01/18     3,531,955  
      Tpke. Auth., Hwy. Impvts. Tolls RB,        
      Central Texas Tpke. Sys. Proj., Ser. A        
  7,990      Zero Coupon, 8/15/21, AMBAC     4,284,718  
  8,450      Zero Coupon, 8/15/24, AMBAC     3,882,775  
      Weatherford Indpt. Sch. Dist., Cap. Apprec.        
      Ad Valorem Ppty. Tax GO,        
  8,080 1    Zero Coupon, 2/15/11, PSF     3,475,571  
  2,905      Zero Coupon, 2/15/23, PSF     1,258,446  
  2,905      Zero Coupon, 2/15/24, PSF     1,188,261  
            18,759,775  
      Trust Territories—1.3%        
  4,000 2 San Manuel Entertainment Auth. RB, 2004        
         Gaming Proj., Ser. C, 4.50%, 12/01/16     3,836,960  
      U.S. Virgin Islands—0.3%        
  1,000   Pub. Fin. Auth., Swr. Impvts. Swr. RB, Sen.        
     
   Lien Matching Fund Loan, Ser. A, 5.25%,
       
         10/01/17     1,049,550  
      Virginia—7.6%        
  5,000   Celebrate North Cmnty. Dev. Auth., Wtr.        
         Util. Impvts. SA, Ser. B, 6.60%, 3/01/25     5,249,750  
  10,000 3 Charles City Cnty. Econ. Dev. Auth., Rec.        
         Recovery Impvts. RB, Wst. Mgmt., Inc.        
         Proj., 5.125%, 8/01/27, AMT     10,003,900  
  7,500   Mecklenburg Cnty. Indl. Dev. Auth., Elec.,        
         Pwr. & Lt. RB, Dominion Recs., Inc.        
         Proj., 6.50%, 10/15/17, AMT     8,175,600  
            23,429,250  
      Washington—2.8%        
      Washington,        
  4,630      Pub. Impvts. Sales Tax GO, Ser. F, Zero        
         Coupon, 12/01/21, MBIA     2,457,095  
  10,000      Recreational Fac. Impvts. GO, Ser. S-5,        
         Zero Coupon, 1/01/19, FGIC     6,146,600  
            8,603,695  
      Wisconsin—2.1%        
      Hlth. & Edl. Facs. Auth., Hlth., Hosp. &        
      Nursing Home RB, Wheaton Franciscan        
      Svcs. Proj.,        
  2,880      5.50%, 8/15/17     2,987,741  
  3,190      5.50%, 8/15/18     3,298,109  
            6,285,850  
      Total Long-Term Investments (cost        
      $456,875,356)     477,215,898  
Principal
             
Amount
         
(000)
  Description  
Value
 
      SHORT-TERM INVESTMENTS—0.6%      
      Florida—0.1%      
$ 400 5 Jacksonville Hlth. Facs. Auth., Hlth., Hosp.      
         & Nursing Home RB, Daughters of      
         Charity Proj., 4.00%, 10/01/07, MBIA,      
         FRDD $ 400,000  
      Missouri—0.0%      
  15 5 Hlth. & Edl. Facs. Auth., Coll. & Univ. RB,      
         Washington Univ. Proj., Ser. A, 4.08%,      
         10/01/07, FRDD   15,000  
      Texas—0.5%      
  1,400 5 North Central Hlth. Fac. Dev. Corp., Hlth.,      
         Hosp. & Nursing Home Impvts. RB,      
         Methodist Hosp. Proj., 4.05%, 10/01/07,      
         FRDD   1,400,000  
      Total Short-Term Investments (cost      
           $1,815,000)   1,815,000  
Total Investments—156.1% (cost $458,690,3566) $ 479,030,898  
Other assets in excess of liabilities—1.8%   5,582,880  
Preferred shares at redemption value, including dividends      
payable—(57.9)%   (177,707,948
)
Net Assets Applicable to Common Shareholders—100% $ 306,905,830  
 
 
1     

This bond is prerefunded. 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.
 
2

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 September 30, 2007, the Trust held 9.5% of its net assets, with a current market value of $29,073,060, in securities restricted as to resale.
 
3

Variable rate security. Rate shown is interest rate as of September 30, 2007.
 
4

Security represents a beneficial interest in a trust. The collateral deposited into the trust is federally tax-exempt multi-family housing revenue bonds issued by various state or local governments, or their respective agencies or authorities. The security is subject to remarketing prior to their respective stated maturity, and is subject to mandatory redemption at maturity.
 
5

For purposes of amortized cost valuation, the maturity date of this instrument is considered to be the earlier of the next date on which the security can be redeemed at par, or the next date on which the rate of interest is adjusted. Rate shown is rate as of September 30, 2007.
 
6

Cost for federal income tax purposes is $458,662,523. The net unrealized appreciation on a tax basis is $20,368,375, consisting of $21,853,396 gross unrealized appreciation and $1,485,021 gross unrealized depreciation.
 
KEY TO ABBREVIATIONS
ACA
   — American Capital Access
AMBAC
   — American Municipal Bond Assurance Corp.
AMT
   — Subject to Alternative Minimum Tax
FGIC
   — Financial Guaranty Insurance Co.
FRDD
   — Floating Rate Daily Demand
FSA
   — Financial Security Assurance
GO
   — General Obligation
MBIA
   — Municipal Bond Insurance Assoc.
PSF
   — Public School Fund Guaranteed
RB
   — Revenue Bond
SA
   — Special Assessment
ST
   — Special Tax
TA
   — Tax Allocation



3

Item 2 – Controls and Procedures

2(a) –

The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities and Exchange Act of 1934, as amended.

2(b) –

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 3 – Exhibits

Certifications – Attached hereto

 

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.

 

BlackRock Municipal 2020 Term Trust

 

By:   /s/ Donald C. Burke
  Donald C. Burke,
  President & Chief Executive Officer of
  BlackRock Municipal 2020 Term Trust

 

Date: November 20, 2007

 

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/ Donald C. Burke
  Donald C. Burke,
  President & Chief Executive Officer (principal executive officer) of
  BlackRock Municipal 2020 Term Trust

 

Date: November 20, 2007

 

By:   /s/ Neal J. Andrews
  Neal J. Andrews,
  Chief Financial Officer
(principal financial officer) of
BlackRock Municipal 2020 Term Trust

 

Date: November 20, 2007