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: 100 Bellevue Parkway, Wilmington, DE 19809 Name and address of agent for service: Donald C. Burke, 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: (800) 441-7762 Date of fiscal year end: 06/30 Date of reporting period: 07/01/2007 -- 06/30/2008 Item 1 -- Proxy Voting Record -- Attached hereto. 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. BlackRock Municipal Bond Fund, Inc. By: /s/ Donald C. Burke Donald C. Burke Chief Executive Officer of BlackRock Municipal Bond Fund, Inc. Date: August 15, 2008 ******************************* FORM N-Px REPORT ******************************* ICA File Number: 811-02688 Reporting Period: 07/01/2007 - 06/30/2008 BlackRock Municipal Bond Fund, Inc. ===================== BLACKROCK MUNICIPAL INSURED FUND ======================== BLACKROCK CALIFORNIA INSURED MUNICIPAL 2008 TERM TRUST INC, THE Ticker: BFC Security ID: 09247G108 Meeting Date: AUG 16, 2007 Meeting Type: Annual Record Date: JUN 20, 2007 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Trustee G. Nicholas Beckwith, III For For Management 1.2 Elect Trustee Richard E. Cavanagh For For Management 1.3 Elect Trustee Richard S. Davis For For Management 1.4 Elect Trustee Kent Dixon For For Management 1.5 Elect Trustee Kathleen F. Feldstein For For Management 1.6 Elect Trustee James T. Flynn For For Management 1.7 Elect Trustee Henry Gabbay For For Management 1.8 Elect Trustee Jerrold B. Harris For For Management 1.9 Elect Trustee R. Glenn Hubbard For For Management 1.10 Elect Trustee Karen P. Robards For For Management 1.11 Elect Trustee Robert S. Salomon, Jr. For For Management - -------------------------------------------------------------------------------- BLACKROCK INSURED MUNICIPAL 2008 TERM TRUST INC., THE Ticker: BRM Security ID: 09247K109 Meeting Date: AUG 16, 2007 Meeting Type: Annual Record Date: JUN 20, 2007 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Trustee G. Nicholas Beckwith, III For For Management 1.2 Elect Trustee Richard E. Cavanagh For For Management 1.3 Elect Trustee Richard S. Davis For For Management 1.4 Elect Trustee Kent Dixon For For Management 1.5 Elect Trustee Kathleen F. Feldstein For For Management 1.6 Elect Trustee James T. Flynn For For Management 1.7 Elect Trustee Henry Gabbay For For Management 1.8 Elect Trustee Jerrold B. Harris For For Management 1.9 Elect Trustee R. Glenn Hubbard For For Management 1.10 Elect Trustee Karen P. Robards For For Management 1.11 Elect Trustee Robert S. Salomon, Jr. For For Management - -------------------------------------------------------------------------------- BLACKROCK INSURED MUNICIPAL TERM TRUST INC., THE Ticker: BMT Security ID: 092474105 Meeting Date: AUG 16, 2007 Meeting Type: Annual Record Date: JUN 20, 2007 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Trustee G. Nicholas Beckwith, III For For Management 1.2 Elect Trustee Richard E. Cavanagh For For Management 1.3 Elect Trustee Richard S. Davis For For Management 1.4 Elect Trustee Kent Dixon For For Management 1.5 Elect Trustee Kathleen F. Feldstein For For Management 1.6 Elect Trustee James T. Flynn For For Management 1.7 Elect Trustee Henry Gabbay For For Management 1.8 Elect Trustee Jerrold B. Harris For For Management 1.9 Elect Trustee R. Glenn Hubbard For For Management 1.10 Elect Trustee Karen P. Robards For For Management 1.11 Elect Trustee Robert S. Salomon, Jr. For For Management ========== END NPX REPORT