INDEPENDENT AUDITORS' CONSENT
 
Merrill Lynch Municipal Bond Fund, Inc.:
   
  We consent to the incorporation by reference in this Registration Statement
on Form N-14 of our report dated August 15, 1997 appearing in the annual
report to shareholders of the Merrill Lynch Municipal Bond Fund, Inc. for the
year ended June 30, 1997, which is included in the Merrill Lynch Municipal
Bond Fund, Inc. Statement of Additional Information dated October 7, 1997, and
to the references to us under the captions "Comparison of the State Funds and
Limited Maturity Portfolio--Financial Highlights" and "Experts" appearing in
the Proxy Statement and Prospectus, which is part of such Registration
Statement.     
 
Deloitte & Touche LLP
Princeton, New Jersey
   
November 24, 1997