<SEC-DOCUMENT>0001287695-11-000216.txt : 20110429
<SEC-HEADER>0001287695-11-000216.hdr.sgml : 20110429
<ACCEPTANCE-DATETIME>20110429170931
ACCESSION NUMBER:		0001287695-11-000216
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20110228
FILED AS OF DATE:		20110429
DATE AS OF CHANGE:		20110429
EFFECTIVENESS DATE:		20110429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK DEBT STRATEGIES FUND, INC.
		CENTRAL INDEX KEY:			0001051003
		IRS NUMBER:				223564108
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08603
		FILM NUMBER:		11795929

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		800-441-7762

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK DEBT STRATEGIES FUND
		DATE OF NAME CHANGE:	20070611

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEBT STRATEGIES FUND
		DATE OF NAME CHANGE:	20030428

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEBT STRATEGIES FUND II INC
		DATE OF NAME CHANGE:	19971208
</SEC-HEADER>
<DOCUMENT>
<TYPE>NSAR-B
<SEQUENCE>1
<FILENAME>answer.fil
<TEXT>
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SIGNATURE   NEAL J. ANDREWS
TITLE       CFO

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>2
<FILENAME>debt77b.htm
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>Converted by FileMerlin</TITLE>
<META NAME="author" CONTENT="chukwuma ozowalu (Open)">
<META NAME="date" CONTENT="04/11/2011">
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<P style="margin-left:0pt; margin-top:3.15pt; margin-bottom:3.15pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000"><B>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></P>
<P style="margin-left:0pt; margin-top:3.15pt; margin-bottom:3.15pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000">To the Shareholders and Board of Directors of BlackRock Debt Strategies Fund, Inc.:</P>
<P style="margin-left:0pt; margin-top:3.15pt; margin-bottom:3.15pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify><BR></P>
<P style="margin-left:0pt; margin-top:3.15pt; margin-bottom:3.15pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>In planning and performing our audit of the financial statements of BlackRock Debt Strategies Fund, Inc. (the &#147;Fund&#148;), as of and for the year ended February 28, 2011, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting.&nbsp; Accordingly, we express no such opinion.</P>
<P style="margin-left:0pt; margin-top:3.15pt; margin-bottom:3.15pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting.&nbsp; In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls.&nbsp; A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.&nbsp; A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a company's assets that could have a material effect on the financial statements.</P>
<P style="margin-left:0pt; margin-top:3.15pt; margin-bottom:3.15pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.&nbsp; Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.</P>
<P style="margin-left:0pt; margin-top:3.15pt; margin-bottom:3.15pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis.&nbsp; A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.</P>
<P style="margin-left:0pt; margin-top:3.15pt; margin-bottom:3.15pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States).&nbsp; However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls for safeguarding securities, that we consider to be a material weakness, as defined above, as of February 28, 2011.</P>
<P style="margin-left:0pt; margin-top:3.15pt; margin-bottom:3.15pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>This report is intended solely for the information and use of management and the Board of Directors of BlackRock Debt Strategies Fund, Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.</P>
<P style="margin-left:0pt; margin-top:3.15pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000">Deloitte &amp; Touche LLP</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000">Princeton, New Jersey</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000">April 29, 2011</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000"><BR></P>
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<DOCUMENT>
<TYPE>EX-99.77O RULE 10F-3
<SEQUENCE>3
<FILENAME>debt177o.htm
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>FORM 10f-3</TITLE>
<META NAME="author" CONTENT="BlackRock">
<META NAME="date" CONTENT="04/16/2010">
</HEAD>
<BODY>
<BR>
<BR>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center><B>FORM 10f-3</B></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000" align=center><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center><B>THE BLACKROCK FUNDS</B></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center><B>&nbsp;</B></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center><B>Record of Securities Purchased</B></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center><B>Under the Trust&#146;s Rule 10f-3 Procedures</B></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">1.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000"><B>Name of Purchasing Portfolio:</B> &nbsp;BlackRock Senior High Income Fund, Inc. (ARK), Managed Account Series: High Income Portfolio (BATS-HINC), BlackRock Floating Rate Income Trust (BGT2), BlackRock Strategic Bond Trust (BHD), BlackRock Defined Opportunity Credit Trust (BHL), BlackRock High Yield Trust (BHY), BlackRock Limited Duration Income Trust (BLW), BlackRock High Income Fund (BR-HIINC), BlackRock High Yield Bond Portfolio (BR-HIYLD), BlackRock High Income Portfolio (Ins - Series) ( BVA-HI), BlackRock High Income V.I. Fund (Ins - Var Ser) ( BVA-HY), BlackRock Corporate High Yield Fund, Inc. (COY), BlackRock Corporate High Yield Fund III, Inc. (CYE), BlackRock Debt Strategies Fund, Inc. (DSU), BlackRock Diversified Income Strategies Fund, Inc.(DVF), BlackRock Floating Rate Income Strategies Fund, Inc. (FRA), BlackRock Floating Rate Income Strategies Fund II, Inc. (FRB), BlackRock High Income Shares (HIS), BlackRock Corporate High Yield Fund VI, Inc.(HYT), BlackRock Corporate High Yield Fund V, Inc. (HYV), Master Senior Floating Rate LLC (MF-SFR), CoreAlpha Bond Master Portfolio (MIP_CORA), MIST BlackRock High Yield Portfolio (MIST-HY)</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">2.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000"><B>Issuer:</B> &nbsp;&nbsp;&nbsp;CONSOL Energy Inc.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">3.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:24pt; font-size:12pt; color:#000000"><B>Date of Purchase</B>: &nbsp;03/25/2010</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">4.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:24pt; font-size:12pt; color:#000000"><B>Underwriter from whom purchased:</B> &nbsp;RBS Securities Inc.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">5.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000"><B>Name of Affiliated Underwriter (as defined in the Trust&#146;s procedures) managing or participating in syndicate:</B> PNC Capital Markets LLC </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:12pt; font-size:12pt; color:#000000"><B>a.</B></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000"><B>List Members of Underwriting Syndicate:</B> Banc of America Securities LLC, PNC Capital Markets LLC, RBS Securities Inc., Mitsubishi UFJ Securities (USA) Inc., Wells Fargo Securities LLC, Scotia Capital (USA) Inc, U.S. Bancorp Investments, Inc., Santander Investment Securities Inc., The Huntington Investment Company</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:12pt; font-size:12pt; color:#000000"><B>1.</B></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000"><B>Aggregate principal amount purchased (out of total offering) (if an equity offering, list aggregate number of shares purchased (out of total number of shares offered:</B> (ARK) $500,000 out of $1,250,000,000, (BATS-HINC) $510,000 out of $1,250,000,000, (BGT2) $900,000 out of $1,250,000,000, (BHD) $555,000 out of $1,250,000,000, (BHL) $250,000 out of $1,250,000,000, (BHY) $255,000 out of $1,250,000,000, (BLW) $1,500,000 out of $1,250,000,000, (BR-HIINC) $6,250,000 out of $1,250,000,000, (BR-HIYLD) $13,750,000 out of $1,250,000,000, (BVA-HI) $300,000 out of $1,250,000,000, (BVA-HY) $725,000 out of $1,250,000,000, (COY) $1,390,000 out of $1,250,000,000, (CYE) $1,510,000 out of $1,250,000,000, (DSU) $1,250,000 out of $1,250,000,000, (DVF) $275,000 out of $1,250,000,000, (FRA)$750,000 out of $1,250,000,000, (FRB) $300,000 out of $1,250,000,000, (HIS) $700,000 out of $1,250,000,000, (HYT) $2,350,000 out of $1,250,000,000, (HYV) $2,225,000 out of $1,250,000,000, (MF-SFR) $1,200,000 out of $1,250,000,000, (MIP_CORA) $1,600,000 out of $1,250,000,000, (MIST-HY) $4,140,000 out of $1,250,000,000.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:18pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">7.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000"><B>Aggregate principal amount purchased by funds advised by BlackRock and any purchases by other accounts with respect to which BlackRock has investment discretion (out of the total offering) (if an equity offering, list aggregate number of shares purchased (out of total number of shares offered)):</B> $90,000,000 out of $1,250,000,000</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">8.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:24pt; font-size:12pt; color:#000000"><B>Purchase price (net of fees and expenses):</B> &nbsp;$100</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">9.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:24pt; font-size:12pt; color:#000000"><B>Date offering commenced (if different from Date of Purchase):</B> &nbsp;</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">10.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:24pt; font-size:12pt; color:#000000"><B>Offering price at end of first day on which any sales were made: </B></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">11.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">Have the following conditions been satisfied:</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000"><B><U>Yes</U></B></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:360pt; line-height:12pt; font-size:12pt; color:#000000"><B><U>No</U></B></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">a.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">The securities are part of an issue registered under </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">the Securities Act of 1933, as amended, which </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">is being offered to the public, <U>or</U> are Eligible Municipal</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Securities, <U>or</U> are securities sold in an</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:252pt; line-height:12pt; font-size:12pt; color:#000000">&nbsp;Eligible Foreign </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">Offering <U>or</U> are securities sold in an Eligible Rule 144A</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Offering <U>or</U> part of an issue of government </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">securities.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:288pt; line-height:12pt; font-size:12pt; color:#000000">_X &nbsp;___</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">b.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">The securities were purchased prior to the </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">end of the first day on which any sales</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">were made, at a price that was not more</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">than the price paid by each other</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">purchaser of securities in that offering</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">or in any concurrent offering of the </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">securities (except, in the case of an</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Eligible Foreign Offering, for any rights</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">to purchase required by laws to be granted</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">to existing security holders of the</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Issuer) <U>or</U>, if a rights offering, the </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">securities were purchased on or before the</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">fourth day preceding the day on which the </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">rights offering terminated.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000"><U>_X</U></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:360pt; line-height:12pt; font-size:12pt; color:#000000">___</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">c.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">The underwriting was a firm commitment</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">underwriting.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000">_<U>X</U></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:360pt; line-height:12pt; font-size:12pt; color:#000000">___</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">d.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">The commission, spread or profit was</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">reasonable and fair in relation to that</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">being received by others for underwriting</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">similar securities during the same period.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000">_<U>X</U></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:360pt; line-height:12pt; font-size:12pt; color:#000000">___</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">e.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">In respect of any securities other than</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Eligible Municipal Securities, the issuer</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">of such securities has been in continuous</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">operation for not less than three years</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">(including the operations of predecessors).</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000">_<U>X</U></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:360pt; line-height:12pt; font-size:12pt; color:#000000">___</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">a.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">Has the affiliated underwriter confirmed </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">that it will not receive any direct or indirect </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">benefit as a result of BlackRock's participation </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">in the offering?</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:288pt; line-height:12pt; font-size:12pt; color:#000000">_<U>X </U>&nbsp;&nbsp;&nbsp;&nbsp;____</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">Approved by: <U>_ _ _Mitch Garfin &amp; Miguel Cota_ &nbsp;</U>&nbsp;Date: &nbsp;___04-21-10______</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
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<TYPE>EX-99.77O RULE 10F-3
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<!doctype html public "-//IETF//DTD HTML//EN">
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<TITLE>FORM 10f-3</TITLE>
<META NAME="author" CONTENT="BlackRock">
<META NAME="date" CONTENT="10/18/2010">
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<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center>FORM 10f-3</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000" align=center><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center>THE BLACKROCK FUNDS</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center>&nbsp;</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center>Record of Securities Purchased</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center>Under the Trust&#146;s Rule 10f-3 Procedures</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">1.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:24pt; font-size:12pt; color:#000000">Name of Purchasing Portfolio: &nbsp;BlackRock Senior High Income Fund, Inc. (ARK), Managed Account Series: High Income Portfolio (BATS-HINC), BlackRock Strategic Bond Trust (BHD), BlackRock High Yield Trust (BHY), BlackRock Limited Duration Income Trust (BLW), BlackRock High Income Fund (BR-HIINC), BlackRock High Yield Bond Portfolio (BR-HIYLD), BlackRock High Income Portfolio (Ins &#150; Series) (BVA-HI), BlackRock High Income V.I. Fund (Ins &#150; Var Ser) (BVA-HY), BlackRock Corporate High Yield Fund, Inc. (COY), BlackRock Corporate High Yield Fund III, Inc. (CYE), BlackRock Debt Strategies Fund, Inc. (DSU), BlackRock Diversified Income Strategies Fund, Inc. (DVF), BlackRock Floating Rate Income Strategies Fund, Inc. (FRA), BlackRock Floating Rate Income Strategies Fund II, Inc. (FRB), BlackRock High Income Shares (HIS), BlackRock Corporate High Yield Fund VI, Inc. (HYT), BlackRock Corporate High Yield Fund V, Inc. (HYV), MIST BlackRock High Yield Portfolio (MIST-HY)</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">2.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">Issuer: &nbsp;&nbsp;&nbsp;FTI Consulting, Inc.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">3.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:24pt; font-size:12pt; color:#000000">Date of Purchase: &nbsp;09/16/10</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">4.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:24pt; font-size:12pt; color:#000000">Underwriter from whom purchased: &nbsp;Banc of America Securities LLC</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">5.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">Name of Affiliated Underwriter (as defined in the Trust&#146;s procedures) managing or participating in syndicate: PNC Capital Markets LLC </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:12pt; font-size:12pt; color:#000000">a.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">List Members of Underwriting Syndicate: Banc of America Securities LLC, J.P. Morgan Securities LLC, Goldman, Sachs &amp; Co., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., KKR Capital Markets LLC, RBS Securities Inc., Wells Fargo Securities, LLC, Comerica Securities, Inc., PNC Capital Markets LLC, Santander Investment Securities Inc., SunTrust Robinson Humphrey, Inc.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">6. </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">Aggregate principal amount purchased (out of total offering) (if an equity offering, list aggregate number of shares purchased (out of total number of shares offered: (ARK) $295,000 out of $400,000,000; (BATS-HINC) $250,000 out of $400,000,000; (BHD) $170,000 out of $400,000,000; (BHY) $110,000 out of $400,000,000; (BLW) $810,000 out of $400,000,000; (BR-HIINC) $2,625,000 out of $400,000,000; (BR-HIYLD) $6,535,000 out of $400,000,000; (BVA-HI) $130,000 out of $400,000,000; (BVA-HY) $310,000 out of $400,000,000; (COY) $620,000 out of $400,000,000; (CYE) $670,000 out of $400,000,000; (DSU) $560,000 out of $400,000,000; (DVF) $85,000 out of $400,000,000; (FRA) $170,000 out of $400,000,000; (FRB) $95,000 out of $400,000,000; (HIS) $310,000 out of $400,000,000; (HYT) $1,050,000 out of $400,000,000; (HYV) $1,000,000 out of $400,000,000; (MIST-HY) $2,160,000 out of $400,000,000</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">7. </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">Aggregate principal amount purchased by funds advised by BlackRock and any purchases by other accounts with respect to which BlackRock has investment discretion (out of the total offering) (if an equity offering, list aggregate number of shares purchased (out of total number of shares offered)): $50,000,000 out of $400,000,000</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">8. </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:24pt; font-size:12pt; color:#000000">Purchase price (net of fees and expenses): &nbsp;$100</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">9. </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:24pt; font-size:12pt; color:#000000">Date offering commenced (if different from Date of Purchase): &nbsp;</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">10.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:24pt; font-size:12pt; color:#000000">Offering price at end of first day on which any sales were made: </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">11. </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">Have the following conditions been satisfied:</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000">Yes</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:360pt; line-height:24pt; font-size:12pt; color:#000000">No</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">a.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">The securities are part of an issue registered under </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">the Securities Act of 1933, as amended, which </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">is being offered to the public, or are Eligible Municipal</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Securities, or are securities sold in an</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:252pt; line-height:12pt; font-size:12pt; color:#000000">&nbsp;Eligible Foreign </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">Offering or are securities sold in an Eligible Rule 144A</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Offering or part of an issue of government </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">securities.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:288pt; line-height:12pt; font-size:12pt; color:#000000">_X____</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">b.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">The securities were purchased prior to the </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">end of the first day on which any sales</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">were made, at a price that was not more</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">than the price paid by each other</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">purchaser of securities in that offering</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">or in any concurrent offering of the </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">securities (except, in the case of an</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Eligible Foreign Offering, for any rights</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">to purchase required by laws to be granted</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">to existing security holders of the</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Issuer) or, if a rights offering, the </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">securities were purchased on or before the</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">fourth day preceding the day on which the </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">rights offering terminated.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000">_X___</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">c.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">The underwriting was a firm commitment</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">underwriting.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000">_X___</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">d.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">The commission, spread or profit was</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">reasonable and fair in relation to that</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">being received by others for underwriting</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">similar securities during the same period.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000">_X___</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">e.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">In respect of any securities other than</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Eligible Municipal Securities, the issuer</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">of such securities has been in continuous</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">operation for not less than three years</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">(including the operations of predecessors).</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000">_X____</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">a.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">Has the affiliated underwriter confirmed </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">that it will not receive any direct or indirect </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">benefit as a result of BlackRock's participation </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">in the offering?</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:288pt; line-height:12pt; font-size:12pt; color:#000000">_X____</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">Approved by: ____Chris Dennis_____________Date: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;_____10/18/10_________</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
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<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000">#</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000"><BR></P>
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<DOCUMENT>
<TYPE>EX-99.77O RULE 10F-3
<SEQUENCE>5
<FILENAME>debt377o.htm
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>FORM 10f-3</TITLE>
<META NAME="author" CONTENT="BlackRock">
<META NAME="date" CONTENT="03/31/2011">
</HEAD>
<BODY>
<BR>
<BR>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center>FORM 10f-3</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000" align=center><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center>THE BLACKROCK FUNDS</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center>&nbsp;</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center>Record of Securities Purchased</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000" align=center>Under the Trust&#146;s Rule 10f-3 Procedures</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">1.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:24pt; font-size:12pt; color:#000000">Name of Purchasing Portfolio: &nbsp;BlackRock Senior High Income Fund, Inc. (ARK), Managed Account Series: High Income Portfolio (BATS-HINC), BlackRock Strategic Bond Trust (BHD), BlackRock High Yield Trust (BHY), BlackRock High Income Fund (BR-HIINC), BlackRock High Yield Bond Portfolio (BR-HIYLD), BlackRock High Income Portfolio (Ins - Series) (BVA-HI), BlackRock High Income V.I. Fund (Ins - Var Ser) (BVA-HY), BlackRock Corporate High Yield Fund, Inc. (COY), BlackRock Corporate High Yield Fund III, Inc. (CYE), BlackRock Debt Strategies Fund, Inc. (DSU), BlackRock High Income Shares (HIS), BlackRock Corporate High Yield Fund VI, Inc. (HYT), BlackRock Corporate High Yield Fund V, Inc. (HYV), MIST</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:24pt; font-size:12pt; color:#000000">BlackRock High Yield Portfolio (MIST-HY)</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">2.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">Issuer: &nbsp;&nbsp;&nbsp;United Refining Company</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">3.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:24pt; font-size:12pt; color:#000000">Date of Purchase: &nbsp;02/25/11</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">4.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:24pt; font-size:12pt; color:#000000">Underwriter from whom purchased: &nbsp;Credit Suisse Securities (USA) LLC</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-10pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:10pt; font-size:10pt; color:#000000">5.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; font-size:10pt; color:#000000">Name of Affiliated Underwriter (as defined in the Trust&#146;s procedures) managing or participating in syndicate: PNC Capital Markets LLC &nbsp;</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:12pt; font-size:12pt; color:#000000">a.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">List Members of Underwriting Syndicate: Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC, PNC Capital Markets LLC, Gleacher &amp; Company Securities, Inc.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">6. </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">Aggregate principal amount purchased (out of total offering) (if an equity offering, list aggregate number of shares purchased (out of total number of shares offered)): (ARK) $350, 000 out of $365,000,000; (BATS-HINC) $180,000 out of $365,000,000; (BHD) $150,000 out of $365,000,000; (BHY) $70,000 out of $365,000,000; (BR-HIINC) $1,600,000 out of $365,000,000; (BR-HIYLD) $5,700,000 out of $365,000,000; (BVA-HI) $75,000 out of $365,000,000; (BVA-HY) $200,000 out of $365,000,000; (COY) $400,000 out of $365,000,000; (CYE) $425,000 out of $365,000,000; (DSU) $650,000 out of $365,000,000; (HIS) $200,000 out of $365,000,000; (HYT) $625,000 out of $365,000,000; (HYV) $600,000 out of $365,000,000; (MIST-HY) $1,425,000 out of $365,000,000</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">7. </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">Aggregate principal amount purchased by funds advised by BlackRock and any purchases by other accounts with respect to which BlackRock has investment discretion (out of the total offering) (if an equity offering, list aggregate number of shares purchased (out of total number of shares offered)): $25,000,000 out of $365,000,000</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">8. </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:24pt; font-size:12pt; color:#000000">Purchase price (net of fees and expenses): &nbsp;$96.444</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">9. </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:24pt; font-size:12pt; color:#000000">Date offering commenced (if different from Date of Purchase): &nbsp;</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">10.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:24pt; font-size:12pt; color:#000000">Offering price at end of first day on which any sales were made: </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">11. </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">Have the following conditions been satisfied:</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000">Yes</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:360pt; line-height:24pt; font-size:12pt; color:#000000">No</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">a.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">The securities are part of an issue registered under </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">the Securities Act of 1933, as amended, which </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">is being offered to the public, or are Eligible Municipal</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Securities, or are securities sold in an</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:252pt; line-height:12pt; font-size:12pt; color:#000000">&nbsp;Eligible Foreign </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">Offering or are securities sold in an Eligible Rule 144A</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Offering or part of an issue of government </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">securities.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:288pt; line-height:12pt; font-size:12pt; color:#000000">_X____</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">b.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">The securities were purchased prior to the </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">end of the first day on which any sales</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">were made, at a price that was not more</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">than the price paid by each other</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">purchaser of securities in that offering</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">or in any concurrent offering of the </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">securities (except, in the case of an</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Eligible Foreign Offering, for any rights</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">to purchase required by laws to be granted</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">to existing security holders of the</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Issuer) or, if a rights offering, the </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">securities were purchased on or before the</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">fourth day preceding the day on which the </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">rights offering terminated.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000">_X___</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">c.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">The underwriting was a firm commitment</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">underwriting.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000">_X___</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">d.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">The commission, spread or profit was</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">reasonable and fair in relation to that</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">being received by others for underwriting</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">similar securities during the same period.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000">_X___</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">e.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">In respect of any securities other than</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">Eligible Municipal Securities, the issuer</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">of such securities has been in continuous</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">operation for not less than three years</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:12pt; color:#000000">(including the operations of predecessors).</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:324pt; line-height:12pt; font-size:12pt; color:#000000">_X____</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:12pt; color:#000000">a.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">Has the affiliated underwriter confirmed </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">that it will not receive any direct or indirect </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">benefit as a result of BlackRock's participation </P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; line-height:12pt; font-size:12pt; color:#000000">in the offering?</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:288pt; line-height:12pt; font-size:12pt; color:#000000">_X____</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:36pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">Completed By: <U>_Steven DeLaura___ </U></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:216pt; line-height:12pt; font-size:12pt; color:#000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;__03/31/11______</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000"><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:12pt; color:#000000">Reviewed By: <U>__ Odette Rajwan__</U>______ Date: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____03/31/2011_____</P>
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