UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act File Number 811-02688 Name of Fund: BlackRock Municipal Bond Fund, Inc. BlackRock Municipal Insured Fund Fund Address: P.O. Box 9011 Princeton, NJ 08543-9011 Name and address of agent for service: Robert C. Doll, Jr., Chief Executive Officer, BlackRock Municipal Bond Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011 Registrant's telephone number, including area code: (609) 282-2800 Date of fiscal year end: 06/30 Date of reporting period: 07/01/06 - 06/30/07 Item 1 - Proxy Voting Record The information contained herein discloses the following information for each matter relating to a portfolio security considered at any shareholder meeting held during the period covered by the report and with respect to which the registrant was entitled to vote: (a) The name of the issuer of the portfolio security; (b) The exchange ticker symbol of the portfolio security; (c) The Council on Uniform Securities Identification Procedures ("CUSIP") number for the portfolio security; (d) The shareholder meeting date; (e) A brief identification of the matter voted on; (f) Whether the matter was proposed by the issuer or by a security holder; (g) Whether the registrant cast its vote on the matter; (h) How the registrant cast its vote; and (i) Whether the registrant cast its vote for or against management. ******************************* FORM N-Px REPORT ******************************* ICA File Number: 811-02688 Reporting Period: 07/01/2006 - 06/30/2007 Merrill Lynch Municipal Bond Fund, Inc.: Municipal Insured Portfolio ========== MERRILL LYNCH MUNICIPAL BOND FUND, INC.: Municipal INSURED PORTFOLIO ========== BLACKROCK CALIFORNIA INSURED MUNICIPAL 2008 TERM TRUST INC, THE Ticker: BFC Security ID: 09247G108 Meeting Date: AUG 23, 2006 Meeting Type: Special Record Date: JUN 5, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1 Approve Investment Advisory Agreement For For Management - -------------------------------------------------------------------------------- BLACKROCK INSURED MUNICIPAL 2008 TERM TRUST INC., THE Ticker: BRM Security ID: 09247K109 Meeting Date: AUG 23, 2006 Meeting Type: Special Record Date: JUN 5, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1 Approve Investment Advisory Agreement For For Management - -------------------------------------------------------------------------------- BLACKROCK INSURED MUNICIPAL TERM TRUST INC., THE Ticker: BMT Security ID: 092474105 Meeting Date: AUG 23, 2006 Meeting Type: Special Record Date: JUN 5, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1 Approve Investment Advisory Agreement For For Management ========== END NPX REPORT Pursuant to the requirements of 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. By: /s/ Robert C. Doll, Jr. ------------------------ Robert C. Doll, Jr. Chief Executive Officer BlackRock Municipal Bond Fund, Inc. Date: August 16, 2007