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PUTNAM MUNICIPAL Opportunities TRUST

c/o Putnam Investment Management, LLC

100 Federal Street

Boston, Massachusetts 02110

March 13, 2020

Securities and Exchange Commission

100 F Street, N.E.

Washington, DC 20549

Attn: Division of Investment Management

Re: Putnam Municipal Opportunities Trust—File No. 811-07626

Withdrawal of Request pursuant to Rule 19b‑1(e) under the
Investment Company Act of 1940, as amended

Ladies and Gentlemen:

Putnam Municipal Opportunities Trust (the “Fund”) filed a request with the Securities and Exchange Commission (“SEC”) on February 28, 2020 (the “Request”) for relief pursuant to Rule 19b-1(e) under the Investment Company Act of 1940, as amended (the “1940 Act”) to permit the Fund to make additional capital gains distributions in excess of the limits prescribed in Section 19 of the 1940 Act and Rule 19b-1 thereunder.

Further to the telephone conversation of March 13, 2020 between representatives of Putnam Investment Management, LLC (investment adviser to the Fund), Ropes & Gray LLP (counsel to the Fund), and members of the staff of the Division of Investment Management of the SEC, the Fund hereby requests that the Request be withdrawn effective today.

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All actions necessary to authorize the execution and filing of this request under the agreement and declaration of trust and bylaws of the Fund have been taken, and the person signing and filing this request is authorized to do so on behalf of the Fund.

The verification required by Rule 0-2 is attached hereto as Appendix A.

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If you have any questions regarding this request, please do not hesitate to contact Venice Monagan, Esq. of Putnam Investment Management, LLC at (617) 760-2577 or James E. Thomas, Esq. at Ropes & Gray LLP at (617) 951-7367.

Sincerely yours,

/s/ Jonathan S. Horwitz

Jonathan S. Horwitz

Executive Vice President and Principal Executive

Officer

Putnam Municipal Opportunities Trust

cc: Venice Monagan, Esq., Counsel, Putnam Investment Management, LLC

James E. Thomas, Esq., Ropes & Gray LLP

Bryan Chegwidden, Esq., Ropes & Gray LLP

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Appendix A

Verification of Putnam Municipal Opportunities Trust

The undersigned states that he has duly executed the attached request dated March 13, 2020 for and on behalf of Putnam Municipal Opportunities Trust (the “Fund”) in his capacity as Executive Vice President and Principal Executive Officer of the Fund and that all actions by the holders and other bodies necessary to authorize the undersigned to execute and file such instrument have been taken. The undersigned further states that he is familiar with such instrument, and the contents thereof, and that the facts therein set forth are true to the best of his knowledge, information and belief.

/s/ Jonathan S. Horwitz

Name: Jonathan S. Horwitz

Title: Executive Vice President and Principal Executive Officer

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