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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001136730-05-000057.txt : 20050629
<SEC-HEADER>0001136730-05-000057.hdr.sgml : 20050629
<ACCEPTANCE-DATETIME>20050629103043
ACCESSION NUMBER:		0001136730-05-000057
CONFORMED SUBMISSION TYPE:	NSAR-A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20050430
FILED AS OF DATE:		20050629
DATE AS OF CHANGE:		20050629
EFFECTIVENESS DATE:		20050629

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST
		CENTRAL INDEX KEY:			0000884152
		IRS NUMBER:				363810337
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		NSAR-A
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06567
		FILM NUMBER:		05922898

	BUSINESS ADDRESS:	
		STREET 1:		VAN KAMPEN INVESTMENTS INC.
		STREET 2:		1221 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020
		BUSINESS PHONE:		2127625441

	MAIL ADDRESS:	
		STREET 1:		VAN KAMPEN INVESTMENTS INC.
		STREET 2:		1221 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020

	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-A
<SEQUENCE>1
<FILENAME>answer.fil
<TEXT>
<PAGE>      PAGE  1
000 A000000 04/30/2005
000 C000000 0000884152
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000 F000000 Y
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000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST
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001 C000000 2127625260
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002 C000000 NY
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<PAGE>      PAGE  2
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014 B000018 8-00000
014 A000019 MORGAN STANLEY BANK AG
014 B000019 8-00000
014 A000020 MORGAN STANLEY DISTRIBUTION INC.
014 B000020 8-44766
014 A000021 MORGAN STANLEY DISTRIBUTORS INC.
014 B000021 8-45262
014 A000022 MORGAN STANLEY MARKET PRODUCTS INC.
014 B000022 8-37795
014 A000023 MS SECURITIES SERVICES INC.
014 B000023 8-26804
014 A000024 PRIME DEALER SERVICES CORP.
014 B000024 8-47025
014 A000025 VAN KAMPEN FUNDS INC.
<PAGE>      PAGE  3
014 B000025 8-19412
015 A000001 STATE STREET BANK AND TRUST CO.
015 B000001 C
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015 C030001 02110
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015 E010001 X
018  000000 Y
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019 B000000   83
019 C000000 VANKAMPENF
020 A000001 ABN AMRO INC.
020 B000001 13-3227945
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020 C000002      0
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021  000000       12
022 A000001 UBS FINANCIAL SERVICES INC.
022 B000001 13-2932996
022 C000001     21656
022 D000001     11400
022 A000002 CITIGROUP GLOBAL MARKETS INC.
022 B000002 13-3187336
022 C000002      8632
022 D000002     12205
022 A000003 LEHMAN BROTHERS INC.
022 B000003 13-2518466
022 C000003      8480
022 D000003      8142
022 A000004 SUNTRUST CAPITAL MARKETS INC.
022 C000004      7110
022 D000004      7110
022 A000005 GOLDMAN SACHS & CO.
022 B000005 13-5108880
022 C000005      4092
022 D000005      6659
022 A000006 MERRILL LYNCH PIERCE FENNER
022 B000006 13-5674085
022 C000006      4290
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022 A000007 FIRST ALBANY CAPTIAL INC.
022 B000007 14-1391446
022 C000007      2400
<PAGE>      PAGE  4
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022 A000008 BANC OF AMERICA SECURITIES
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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SIGNATURE   KATHERINE UREVIG
TITLE       ASSISTANT TREASURER

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77O RULE 10F-3
<SEQUENCE>3
<FILENAME>ex77o.txt
<TEXT>
                     Van Kampen Municipal Opportunity Trust
                          Item 77(O) 10F-3 Transactions
                        November 1, 2004 - April 30, 2005



Securi  Purch   Size   Offeri  Total   Amount    % of    % of
  ty     ase/    of      ng    Amount    of     Offeri  Funds   Broker  Purcha
Purcha  Trade  Offeri  Price     of    Shares     ng    Total     s       sed
  sed    Date    ng      of   Offerin  Purcha   Purcha  Assets           From
                       Shares    g       sed      sed
                                         By       By
                                        Fund     Fund
 Lower  11/24    -     $102.8 $125,58  2,185,    1.74%  0.54%   Bear,    Bear
Colora   /04             7     0,000     000                    Stearn  Stearn
  do                                                             s &       s
 River                                                           Co.
Author                                                          Inc.,
  ity                                                           Lehman
                                                                Brothe
                                                                  rs
                                                                Inc.,
                                                                Morgan
                                                                Stanle
                                                                  y,
                                                                 A.G.
                                                                Edward
                                                                 s &
                                                                Sons,
                                                                Inc.,
                                                                JPMorg
                                                                 an,
                                                                 Apex
                                                                Pryor
                                                                Securi
                                                                ties,
                                                                Merril
                                                                  l
                                                                Lynch
                                                                & Co.,
                                                                First
                                                                Southw
                                                                 est
                                                                Compan
                                                                  y,
                                                                Goldma
                                                                  n,
                                                                Sachs
                                                                & Co.,
                                                                 UBS
                                                                Financ
                                                                 ial
                                                                Servic
                                                                  es
                                                                 Inc.

                                                                Bear,
                                                                Stearn
                                                                 s &
                                                                 Co.
                                                                Inc.,
 Lower  11/24    -     $100.9 $125,58  2,000,    1.59%  0.49%   Lehman   Bear
Colora   /04             2     0,000     000                    Brothe  Stearn
  do                                                              rs       s
 River                                                          Inc.,
Author                                                          Morgan
  ity                                                           Stanle
                                                                  y,
                                                                 A.G.
                                                                Edward
                                                                 s &
                                                                Sons,
                                                                Inc.,
                                                                JPMorg
                                                                 an,
                                                                 Apex
                                                                Pryor
                                                                Securi
                                                                ties,
                                                                Merril
                                                                  l
                                                                Lynch
                                                                & Co.,
                                                                First
                                                                Southw
                                                                 est
                                                                Compan
                                                                  y,
                                                                Goldma
                                                                  n,
                                                                Sachs
                                                                & Co.,
                                                                 UBS
                                                                Financ
                                                                 ial
                                                                Servic
                                                                  es
                                                                 Inc.

                                                                 UBS
                                                                Financ
                                                                 ial
                                                                Servic
                                                                  es
                                                                Inc.,
                                                                First
                                                                Albany
                                                                Capita
                                                                  l
                                                                Inc.,
  New   4/20/    -     $103.2 $560,11  2,000,    0.36%  0.49%   Bear,     UBS
 York     05             9     0,000     000                    Stearn
 City                                                            s &
Munici                                                           Co.
  pal                                                           Inc.,
 Water                                                          Morgan
Financ                                                          Stanle
   e                                                              y,
Author                                                           Banc
  ity                                                             of
                                                                Americ
                                                                  a
                                                                Securi
                                                                 ties
                                                                 LLC,
                                                                 RBC
                                                                 Dain
                                                                Rausch
                                                                  er
                                                                Inc.,
                                                                Raymon
                                                                  d
                                                                James
                                                                  &
                                                                Associ
                                                                ates,
                                                                Goldma
                                                                  n,
                                                                Sachs
                                                                & Co.,
                                                                Citigr
                                                                 oup,
                                                                Global
                                                                Market
                                                                  s
                                                                Inc.,
                                                                Lehman
                                                                Brothe
                                                                 rs,
                                                                 M.R.
                                                                Beal &
                                                                Compan
                                                                  y,
                                                                 A.G.
                                                                Edward
                                                                 s &
                                                                Sons,
                                                                Inc.,
                                                                Roosev
                                                                elt &
                                                                Cross
                                                                Incorp
                                                                orated
                                                                  ,
                                                                Merril
                                                                  l
                                                                Lynch
                                                                & Co.,
                                                                JPMorg
                                                                 an,
                                                                Sieber
                                                                  t
                                                                Brandf
                                                                 ord
                                                                Shank
                                                                & Co.,
                                                                 LLC,
                                                                 CIBC
                                                                World
                                                                Market
                                                                  s,
                                                                First
                                                                Americ
                                                                  an
                                                                Munici
                                                                pals,
                                                                Inc.,
                                                                Wachov
                                                                  ia
                                                                Bank,
                                                                Nation
                                                                  al
                                                                Associ
                                                                ation

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77Q1 OTHR EXHB
<SEQUENCE>4
<FILENAME>ex77q1.txt
<TEXT>
AMENDMENT NUMBER ONE
TO THE
INVESTMENT ADVISORY AGREEMENT
This Amendment Number One, dated November 1, 2004,
 to the Investment Advisory
Agreement, dated May 31, 1997 (the Agreement),
by and between Van Kampen
Municipal Opportunity Trust (the Fund), a
Massachusetts business trust (the Trust),
and Van Kampen Asset Management (the Adviser,
successor in interest of Van
Kampen Investment Advisory Corp.), a Delaware
statutory trust, hereby amends the
terms and conditions of the Agreement in the
manner specified herein.
W I T N E S S E T H
WHEREAS, the Board of Trustees of the Fund at
a meeting held on September 23, 2004
has approved a reduction in the investment
management fee payable by the Fund to the
Adviser; and
WHEREAS, the parties desire to amend and restate
Section 2. (a) of the Agreement
relating to the investment management fee.
NOW THEREFORE, in consideration of the foregoing
and the mutual covenants and
agreements hereinafter contained, the parties
hereby agree to amend the Agreement, as
follows:
  Section 2.(a) of the Agreement is hereby
deleted in its entirety and replaced with the
following:
2. (a) Fee. For the services and facilities
described in Section 1, the Fund will accrue
daily and pay to the Adviser at the end of each
calendar month an investment
management fee equal to 0.55% of the average
daily managed assets of the Fund (which
for purposes of determining such fee, shall
mean the average daily value of the Fund,
minus the sum of accrued liability other than
the aggregate amount of any borrowings
undertaken by the Fund).
IN WITNESS WHEREOF, the parties have caused
this Agreement to be executed as of
the day and year first above written.

VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST
VAN KAMPEN ASSET MANAGEMENT


By:
   ---------------------------
    Ronald E. Robison
    Executive Vice President
    and Principal Executive Officer

By:
   ---------------------------
    Edward C. Wood, III
    Managing Director



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