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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000891804-00-002554.txt : 20010101
<SEC-HEADER>0000891804-00-002554.hdr.sgml : 20010101
ACCESSION NUMBER:		0000891804-00-002554
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20001031
FILED AS OF DATE:		20001229

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST
		CENTRAL INDEX KEY:			0000884152
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				363810337
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		
		SEC FILE NUMBER:	811-06567
		FILM NUMBER:		798095

	BUSINESS ADDRESS:	
		STREET 1:		ONE PARKVIEW PLAZA
		STREET 2:		VAN KAMPEN INVESTMENTS INC
		CITY:			OAKBROOK TERRACE
		STATE:			IL
		ZIP:			60181
		BUSINESS PHONE:		6306846774

	MAIL ADDRESS:	
		STREET 1:		VAN KAMPEN INVESTMENTS INC
		STREET 2:		ONE PARKVIEW PLAZA
		CITY:			OAKBROOK TERRACE
		STATE:			IL
		ZIP:			60181

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN AMERICAN CAPITAL MUNICIPAL OPPORTUNITY TRUST
		DATE OF NAME CHANGE:	19960102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN MERRITT MUNICIPAL OPPORTUNITY TRUST
		DATE OF NAME CHANGE:	19920929
</SEC-HEADER>
<DOCUMENT>
<TYPE>NSAR-B
<SEQUENCE>1
<FILENAME>0001.txt
<DESCRIPTION>N-SAR (6.1)
<TEXT>

<PAGE>      PAGE  1
000 B000000 10/31/2000
000 C000000 0000884152
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST
001 B000000 811-6567
001 C000000 6306846000
002 A000000 1 PARKVIEW PLAZA
002 B000000 OAKBROOK TERRACE
002 C000000 IL
002 D010000 60181
002 D020000 5555
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007 C010800  8
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007 C011000 10
008 A000001 VAN KAMPEN INVESTMENT ADVISORY CORP.
008 B000001 A
008 C000001 801-18161
008 D010001 OAKBROOK TERRACE
008 D020001 IL
008 D030001 60181
008 D040001 5555
010 A000001 VAN KAMPEN FUNDS INC.
010 B000001 8-19412
010 C010001 OAKBROOK TERRACE
010 C020001 IL
010 C030001 60181
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011 C020001 IL
011 C030001 60181
<PAGE>      PAGE  2
011 C040001 5555
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012 C030001 02940
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014 B000002 8-728181
015 A000001 STATE STREET BANK AND TRUST CO.
015 B000001 C
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015 C030001 02105
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015 C010002 NEW YORK
015 C020002 NY
015 C030002 10172
015 E010002 X
015 A000003 BANK OF NEW YORK
015 B000003 S
015 C010003 NEW YORK
015 C020003 NY
015 C030003 02105
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015 C010004 NEW YORK
015 C020004 NY
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<PAGE>      PAGE  3
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021  000000        0
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022 B000001 13-5674085
022 C000001     25927
022 D000001     26014
022 A000002 PAINE WEBBER INC
022 B000002 13-2638166
022 C000002     25104
022 D000002     18420
022 A000003 SALOMON SMITH BARNEY INC
022 B000003 11-2418191
022 C000003     16429
022 D000003     17614
022 A000004 LEHMAN BROS INC
022 B000004 13-2518466
022 C000004     13994
022 D000004      8708
022 A000005 GOLDMAN SACHS & CO
022 B000005 13-5108880
022 C000005     12199
022 D000005      4669
022 A000006 FIRST UNION
022 B000006 56-1529080
022 C000006     10068
022 D000006      5583
022 A000007 PRUDENTIAL SECURITIES
022 B000007 22-2347336
022 C000007      7196
022 D000007      5882
022 A000008 J P MORGAN
022 B000008 13-3224016
022 C000008      9189
022 D000008      3536
022 A000009 FIRST ALBANY
022 B000009 14-1391446
022 C000009      3105
022 D000009      9465
022 A000010 FLEET MUNI
022 B000010 13-3217611
022 C000010      5317
022 D000010      5528
023 C000000     157054
023 D000000     169967
024  000000 N
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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078  000000 N
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080 C000000    85000
081 A000000 Y
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082 A000000 Y
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<PAGE>      PAGE  10
087 B010000 PREFERRED SERIES A
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SIGNATURE   MICHAEL COYNE
TITLE       ASSISTANT TREASURER

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>0002.txt
<DESCRIPTION>ITEM 77B
<TEXT>


REPORT OF INDEPENDENT AUDITORS

To the Board of Trustees and Shareholders of
Van Kampen Municipal Opportunity Trust

In planning and performing  our audit of the financial  statements of Van Kampen
Municipal  Opportunity  Trust (the  "Trust") for the year ended October 31, 2000
(on which we have issued our report dated  December 6, 2000),  we considered its
internal control,  including control activities for safeguarding securities,  in
order to determine our auditing  procedures  for the purpose of  expressing  our
opinion on the financial  statements and to comply with the requirements of Form
N-SAR, and not to provide assurance on the Trust's internal control.

The  management of the Trust is responsible  for  establishing  and  maintaining
internal control. In fulfilling this responsibility,  estimates and judgments by
management  are  required to assess the expected  benefits and related  costs of
controls.  Generally,  controls  that are  relevant  to an audit  pertain to the
entity's objective of preparing financial  statements for external purposes that
are fairly presented in conformity with accounting principles generally accepted
in the United States of America.  Those  controls  include the  safeguarding  of
assets against unauthorized acquisition, use, or disposition.

Because of inherent  limitations in any internal  control,  misstatements due to
error  or  fraud  may  occur  and  not be  detected.  Also,  projections  of any
evaluation  of internal  control to future  periods are subject to the risk that
the internal control may become inadequate because of changes in conditions,  or
that the degree of compliance with policies or procedures may deteriorate.

Our consideration of the Trust's internal control would not necessarily disclose
all matters in the  internal  control  that might be material  weaknesses  under
standards established by the American Institute of Certified Public Accountants.
A material  weakness is a condition  in which the design or  operation of one or
more of the internal  control  components  does not reduce to a  relatively  low
level the risk that misstatements caused by error or fraud in amounts that would
be material in relation to the financial  statements being audited may occur and
not be detected  within a timely  period by  employees  in the normal  course of
performing their assigned functions.  However, we noted no matters involving the
Trust's internal control and its operation,  including controls for safeguarding
securities,  that we consider to be material  weaknesses  as defined above as of
October 31, 2000.

This  report  is  intended  solely  for  the  information  and  use  of  Trust's
management,  the Board of  Trustees  and  Shareholders  of Van Kampen  Municipal
Opportunity  Trust,  and  the  Securities  and  Exchange  Commission  and is not
intended  to be and  should not be used by anyone  other  than  these  specified
parties.



Deloitte & Touche LLP
Chicago, Illinois
December 6, 2000

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>0003.txt
<DESCRIPTION>ITEM 77C
<TEXT>


                        Municipal Opportunity Trust (VMO)

                          Results of Shareholder Votes


The Annual Meeting of Shareholders of the Trust was held on June 21, 2000, where
shareholders voted on the election of trustees and the ratification of Deloitte
& Touche LLP as the independent auditors.

1) With regards to the election of the following trustee by common shareholders
   of the Trust:
                                                 # of Shares
                                  ---------------------------------------------
                                        In Favor                    Withheld
- -------------------------------------------------------------------------------
Wayne W. Whalen                       13,606,439



With regards to the election of the following trustee by preferred shareholders
of the Trust:
                                                 # of Shares
                                  ---------------------------------------------
                                        In Favor                    Withheld
- -------------------------------------------------------------------------------
Rod Dammeyer                             4,459



The other trustees of the Trust whose terms did not expire in 2000 are
David C. Arch, Howard J Kerr, Theodore A. Myers, Richard F. Powers, III and
Hugo F. Sonnenschein.



2.) With regards to the ratification of Deloitte & Touche LLP as the independent
auditors for the Trust, 13,596,559 common shares, 4,459 preferred shares voted
in favor of the proposal, 60,209 shares voted against and 160,631 shares
abstained.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>0004.txt
<DESCRIPTION>ITEM 77O
<TEXT>

<TABLE>
<CAPTION>

                                                                         NSAR ITEM 77O

                                                                VK Municipal Opportunity Trust
                                                                      10f-3 Transactions

  Underwriting #             Underwriting               Purchased From  Amount of shares  % of Underwriting  Date of Purchase
                                                                           Purchased
     <S>           <C>                                   <C>             <C>                <C>              <C>
         1         North Carolina Eastern Muni Power     Smith Barney        1,500,000         1.095           11/03/99
         2               Memphis Shelby County          Goldman Sachs        1,000,000         0.408           11/04/99

</TABLE>


Underwriting Participants:

Underwriters for #1                            Underwriters for #2
- -------------------                            -------------------
J.P. Morgan & Co.                              Morgan Keegan
Goldman, Sachs & Co.                           Morgan Stanley & Co. Incorporated
Morgan Stanley & Co. Incorporated              Chapman Company
JC Bradford & Company                          Duncan Williams
First Union Securities, Inc.                   First Tennessee Bank
J. Lee Peeler                                  M.R. Beal & Company
Legg Mason Wood Walker, Incorporated           NationsBanc Capital Markets

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-27
<SEQUENCE>5
<FILENAME>0005.txt
<DESCRIPTION>VK MUNICIPAL OPPORTUNITY TRUST
<TEXT>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
   <NUMBER>                                         11
   <NAME>                               MUNI OPP TRUST
<MULTIPLIER>                                         1

<S>                                                <C>
<PERIOD-TYPE>                                   12-MOS
<FISCAL-YEAR-END>                          OCT-31-2000
<PERIOD-START>                             NOV-01-1999
<PERIOD-END>                               OCT-31-2000
<INVESTMENTS-AT-COST>                      371,325,397
<INVESTMENTS-AT-VALUE>                     396,175,754
<RECEIVABLES>                                7,591,590
<ASSETS-OTHER>                                   9,264
<OTHER-ITEMS-ASSETS>                            49,025
<TOTAL-ASSETS>                             403,825,633
<PAYABLE-FOR-SECURITIES>                     2,913,480
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      811,367
<TOTAL-LIABILITIES>                          3,724,847
<SENIOR-EQUITY>                            150,000,000
<PAID-IN-CAPITAL-COMMON>                   226,873,287
<SHARES-COMMON-STOCK>                       15,352,891
<SHARES-COMMON-PRIOR>                       15,352,891
<ACCUMULATED-NII-CURRENT>                    1,377,392
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     (3,000,250)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    24,850,357
<NET-ASSETS>                               400,100,786
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                           23,565,490
<OTHER-INCOME>                                       0
<EXPENSES-NET>                              (4,067,214)
<NET-INVESTMENT-INCOME>                     19,498,276
<REALIZED-GAINS-CURRENT>                       348,640
<APPREC-INCREASE-CURRENT>                    9,733,019
<NET-CHANGE-FROM-OPS>                       29,579,935
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (19,996,611)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       9,583,324
<ACCUMULATED-NII-PRIOR>                      1,875,727
<ACCUMULATED-GAINS-PRIOR>                   (3,348,890)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        2,551,229
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              4,067,514
<AVERAGE-NET-ASSETS>                       242,409,934
<PER-SHARE-NAV-BEGIN>                            15.67
<PER-SHARE-NII>                                   1.27
<PER-SHARE-GAIN-APPREC>                           0.65
<PER-SHARE-DIVIDEND>                             (1.30)
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              16.29
<EXPENSE-RATIO>                                   1.68


</TABLE>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
