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<SEC-DOCUMENT>0000950136-02-003030.txt : 20021029
<SEC-HEADER>0000950136-02-003030.hdr.sgml : 20021029
<ACCEPTANCE-DATETIME>20021029123823
ACCESSION NUMBER:		0000950136-02-003030
CONFORMED SUBMISSION TYPE:	N-2MEF
PUBLIC DOCUMENT COUNT:		3
<REFERENCE-462B>333-98357
FILED AS OF DATE:		20021029
EFFECTIVENESS DATE:		20021029

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK INSURED MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0001181187

	FILING VALUES:
		FORM TYPE:		N-2MEF
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-100806
		FILM NUMBER:		02800979

	BUSINESS ADDRESS:	
		STREET 1:		40 EAST 52ND STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2127545300

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK MUNICIPAL INCOME TRUST III
		DATE OF NAME CHANGE:	20020819

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK INSURED MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0001181187

	FILING VALUES:
		FORM TYPE:		N-2MEF
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21178
		FILM NUMBER:		02800980

	BUSINESS ADDRESS:	
		STREET 1:		40 EAST 52ND STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2127545300

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK MUNICIPAL INCOME TRUST III
		DATE OF NAME CHANGE:	20020819
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-2MEF
<SEQUENCE>1
<FILENAME>file001.txt
<DESCRIPTION>REGISTRATION STATEMENT
<TEXT>
<PAGE>




  As filed with the Securities and Exchange Commission on October 29, 2002
                                   Securities Act Registration No.
                                   Investment Company Registration No. 811-21179

- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM N-2

          REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933       [X]
                          Pre-Effective Amendment No.                   [_]
                         Post-Effective Amendment No.                   [_]
                                     and/or
                          REGISTRATION STATEMENT UNDER
                       THE INVESTMENT COMPANY ACT OF 1940               [X]
                                AMENDMENT NO. 4                         [X]

                                ----------------

                   BlackRock Insured Municipal Income Trust
        (Exact Name of Registrant as Specified In Declaration of Trust)

                              100 Bellevue Parkway
                           Wilmington, Delaware 19809
                    (Address of Principal Executive Offices)

                                 (888) 825-2257
              (Registrant's Telephone Number, including Area Code)

                           Robert S. Kapito, President
                        BlackRock Municipal Income Trust
                                345 Park Avenue
                            New York, New York 10154
                    (Name and Address of Agent for Service)

                                ----------------

                                   Copies to:

        Michael K. Hoffman, Esq.                Cynthia G. Cobden, Esq.
    Skadden, Arps, Slate, Meagher &            Simpson Thacher & Bartlett
                Flom LLP                          425 Lexington Avenue
           Four Times Square                    New York, New York 10017
        New York, New York 10036

                                ----------------

    Approximate Date of Proposed Public Offering: Upon the effectiveness of this
Registration Statement.

    If any of the securities being registered on this form will be offered on a
delayed or continuous basis in reliance on Rule 415 under the Securities Act of
1933, other than securities offered in connection with a dividend reinvestment
plan, check the following box. [_]

    It is proposed that this filing will become effective (check appropriate

<PAGE>

box)

    [_] when declared effective pursuant to section 8(c)

    [X]immediately upon filing pursuant to Rule 462(b). This amendment to
       Registration Statement is filed in connection with the registration of
       additional securities for an offering pursuant to Rule 462(b) under the
       Securities Act of 1933; the Securities Act registration statement number
       of the earlier effective registration statement for the same offering is
       333-98361

        CALCULATION OF REGISTRATION FEE UNDER THE SECURITIES ACT OF 1933

- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------


<TABLE>
<CAPTION>
                                                          Proposed          Proposed
                                      Amount Being    Maximum Offering   Maximum Aggregate      Amount of
Title of Securities Being Registered   Registered       Price per Unit     Offering Price    Registration Fee
- ----------------------------------------------------------------------------------------------------------------
<S>                                   <C>                  <C>              <C>                     <C>
Common Shares, $.001 par value....... 600,000 shares       $15.00            $9,000,000             $828


- ----------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------

- ----------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>





                                EXPLANATORY NOTE

   This amendment to Registration Statement is being filed in connection with
the registration of additional Common Shares of the Registrant pursuant to Rule
462(b) under the Securities Act of 1933. The contents of the Registration
Statement on Form N-2 relating to the same offering and all amendments thereto
(File No. 333-98361), including the prospectus and statement of additional
information included therein and the exhibits thereto (other than consents and
opinions refiled herewith), declared effective by the Securities and Exchange
Commission on October 28, 2002 are incorporated herein by reference.

<PAGE>





                                     PART C

                               OTHER INFORMATION

Item 24. Financial Statements and Exhibits

(1) Financial Statements

  Part A-- None.

  Part B--Report of Independent Accountants. The Report of Independent
  Accountants is hereby incorporated by reference to pre-effective amendment
  No. 3 to Registration Statement (File No. 333-98361) on October 28, 2002.

  Statement of Assets and Liabilities. The Statement of Assets and
  Liabilities is hereby incorporated by reference to pre-effective amendment
  No. 3 to Registration Statement (File No. 333-98361) on October 28, 2002.

(2)Exhibits



   (a)    Amended and Restated Agreement and Declaration of Trust./1/

   (b)    By-Laws./1/

   (c)    Inapplicable.

   (d)    Form of Specimen Certificate./2/

   (e)    Form of Dividend Reinvestment Plan./2/

   (f)    Inapplicable.

   (g)(1) Form of Investment Management Agreement./2/

   (g)(2) Form of Waiver Reliance Letter./2/

   (g)(3) Form of Sub-Investment Advisory Agreement./2/

   (h)    Form of Underwriting Agreement./2/

   (i)    Form of Deferred Compensation Plan for Independent Trustees./2/

   (j)    Form of Custodian Agreement./2/

   (k)    Form of Transfer Agency Agreement./2/

   (l)    Opinion and Consent of Counsel to the Trust./3/

   (m)    Inapplicable.

   (n)    Consent of Independent Public Accountants./3/

   (o)    Inapplicable.

   (p)    Form of Initial Subscription Agreement./2/

   (q)    Inapplicable.

   (r)(1) Code of Ethics of Trust./2/

   (r)(2) Code of Ethics of Advisor and Sub-Advisor./2/


<PAGE>

   (s)    Powers of Attorney/2/

- --------
/1/Previously filed with Pre-Effective Amendment No. 1 to Registration
  Statement File No. 333-98361 on September 5, 2002.
/2/Previously filed with Pre-Effective Amendment No. 3 to Registration
  Statement File No. 333-98361 on October 28, 2002.
/3/Filed herewith.

                                      C-1


<PAGE>





Item 25. Marketing Arrangements

   Reference is made to the Form of Underwriting Agreement for the Registrant's
shares of beneficial interest filed herewith.

Item 26. Other Expenses of Issuance and Distribution

   The following table sets forth the estimated expenses to be incurred in
connection with the offering described in this registration statement:



     Registration fees.............................................. $   37,260
     New York Stock Exchange listing fee............................    124,800
     Printing (other than certificates).............................    445,802
     Engraving and printing certificates............................     17,500
     Accounting fees and expenses...................................      5,000
     Legal fees and expenses........................................    137,647
     NASD fee.......................................................     30,500
     Miscellaneous..................................................    182,353
       Total........................................................ $  930,862


Item 27. Persons Controlled by or under Common Control with the Registrant

   None.

Item 28. Number of Holders of Shares



                                                                    Number of
     Title of Class                                               Record Holders
     --------------                                               --------------
     As of October 21, 2002
     Shares of Beneficial Interest...............................        1


Item 29. Indemnification

   Article V of the Registrant's Amended and Restated Agreement and Declaration
of Trust, as amended and restated, provides as follows:

   5.1 No Personal Liability of Shareholders, Trustees, etc. No Shareholder of
the Trust shall be subject in such capacity to any personal liability whatsoever
to any Person in connection with Trust Property or the acts, obligations or
affairs of the Trust. Shareholders shall have the same limitation of personal
liability as is extended to stockholders of a private corporation for profit
incorporated under the Delaware General Corporation Law. No Trustee or officer
of the Trust shall be subject in such capacity to any personal liability
whatsoever to any Person, save only liability to the Trust or its Shareholders
arising from bad faith, willful misfeasance, gross negligence or reckless
disregard for his duty to such Person; and, subject to the foregoing exception,
all such Persons shall look solely to the Trust Property for satisfaction of
claims of any nature arising in connection with the affairs of the Trust. If any
Shareholder, Trustee or officer, as such, of the Trust, is made a party to any
suit or proceeding to enforce any such liability, subject to the foregoing
exception, he shall not, on account thereof, be held to any personal liability.
Any repeal or modification of this Section 5.1 shall not adversely affect any
right or protection of a Trustee or officer of the Trust existing at the time of
such repeal or modification with respect to acts or omissions occurring prior to
such repeal or modification.

   5.2 Mandatory Indemnification. (a) The Trust hereby agrees to indemnify each
person who at any time serves as a Trustee or officer of the Trust (each such
person being an "indemnitee") against any liabilities and expenses, including
amounts paid in satisfaction of judgments, in compromise or as fines and
penalties, and

                                      C-2


<PAGE>


reasonable counsel fees reasonably incurred by such indemnitee in connection
with the defense or disposition of any action, suit or other proceeding, whether
civil or criminal, before any court or administrative or investigative body in
which he may be or may have been involved as a party or otherwise or with which
he may be or may have been threatened, while acting in any capacity set forth in
this Article V by reason of his having acted in any such capacity, except with
respect to any matter as to which he shall not have acted in good faith in the
reasonable belief that his action was in the best interest of the Trust or, in
the case of any criminal proceeding, as to which he shall have had reasonable
cause to believe that the conduct was unlawful, provided, however, that no
indemnitee shall be indemnified hereunder against any liability to any person or
any expense of such indemnitee arising by reason of (i) willful misfeasance,
(ii) bad faith, (iii) gross negligence, or (iv) reckless disregard of the duties
involved in the conduct of his position (the conduct referred to in such clauses
(i) through (iv) being sometimes referred to herein as "disabling conduct").
Notwithstanding the foregoing, with respect to any action, suit or other
proceeding voluntarily prosecuted by any indemnitee as plaintiff,
indemnification shall be mandatory only if the prosecution of such action, suit
or other proceeding by such indemnitee (1) was authorized by a majority of the
Trustees or (2) was instituted by the indemnitee to enforce his or her rights to
indemnification hereunder in a case in which the indemnitee is found to be
entitled to such indemnification. The rights to indemnification set forth in
this Declaration shall continue as to a person who has ceased to be a Trustee or
officer of the Trust and shall inure to the benefit of his or her heirs,
executors and personal and legal representatives. No amendment or restatement of
this Declaration or repeal of any of its provisions shall limit or eliminate any
of the benefits provided to any person who at any time is or was a Trustee or
officer of the Trust or otherwise entitled to indemnification hereunder in
respect of any act or omission that occurred prior to such amendment,
restatement or repeal.

   (b) Notwithstanding the foregoing, no indemnification shall be made hereunder
unless there has been a determination (i) by a final decision on the merits by a
court or other body of competent jurisdiction before whom the issue of
entitlement to indemnification hereunder was brought that such indemnitee is
entitled to indemnification hereunder or, (ii) in the absence of such a
decision, by (1) a majority vote of a quorum of those Trustees who are neither
"interested persons" of the Trust (as defined in Section 2(a)(19) of the 1940
Act) nor parties to the proceeding ("Disinterested Non-Party Trustees"), that
the indemnitee is entitled to indemnification hereunder, or (2) if such quorum
is not obtainable or even if obtainable, if such majority so directs,
independent legal counsel in a written opinion concludes that the indemnitee
should be entitled to indemnification hereunder. All determinations to make
advance payments in connection with the expense of defending any proceeding
shall be authorized and made in accordance with the immediately succeeding
paragraph (c) below.

   (c) The Trust shall make advance payments in connection with the expenses of
defending any action with respect to which indemnification might be sought
hereunder if the Trust receives a written affirmation by the indemnitee of the
indemnitee's good faith belief that the standards of conduct necessary for
indemnification have been met and a written undertaking to reimburse the Trust
unless it is subsequently determined that the indemnitee is entitled to such
indemnification and if a majority of the Trustees determine that the applicable
standards of conduct necessary for indemnification appear to have been met. In
addition, at least one of the following conditions must be met: (i) the
indemnitee shall provide adequate security for his undertaking, (ii) the Trust
shall be insured against losses arising by reason of any lawful advances, or
(iii) a majority of a quorum of the Disinterested Non-Party Trustees, or if a
majority vote of such quorum so direct, independent legal counsel in a written
opinion, shall conclude, based on a review of readily available facts (as
opposed to a full trial-type inquiry), that there is substantial reason to
believe that the indemnitee ultimately will be found entitled to
indemnification.

   (d) The rights accruing to any indemnitee under these provisions shall not
exclude any other right which any person may have or hereafter acquire under
this Declaration, the By-Laws of the Trust, any statute, agreement, vote of
stockholders or Trustees who are "disinterested persons" (as defined in Section
2(a)(19) of the 1940 Act) or any other right to which he or she may be lawfully
entitled.

                                      C-3


<PAGE>





   (e) Subject to any limitations provided by the 1940 Act and this Declaration,
the Trust shall have the power and authority to indemnify and provide for the
advance payment of expenses to employees, agents and other Persons providing
services to the Trust or serving in any capacity at the request of the Trust to
the full extent corporations organized under the Delaware General Corporation
Law may indemnify or provide for the advance payment of expenses for such
Persons, provided that such indemnification has been approved by a majority of
the Trustees.

   5.3 No Bond Required of Trustees. No Trustee shall, as such, be obligated to
give any bond or other security for the performance of any of his duties
hereunder.

   5.4 No Duty of Investigation; Notice in Trust Instruments, etc. No purchaser,
lender, transfer agent or other person dealing with the Trustees or with any
officer, employee or agent of the Trust shall be bound to make any inquiry
concerning the validity of any transaction purporting to be made by the Trustees
or by said officer, employee or agent or be liable for the application of money
or property paid, loaned, or delivered to or on the order of the Trustees or of
said officer, employee or agent. Every obligation, contract, undertaking,
instrument, certificate, Share, other security of the Trust, and every other act
or thing whatsoever executed in connection with the Trust shall be conclusively
taken to have been executed or done by the executors thereof only in their
capacity as Trustees under this Declaration or in their capacity as officers,
employees or agents of the Trust. The Trustees may maintain insurance for the
protection of the Trust Property, its Shareholders, Trustees, officers,
employees and agents in such amount as the Trustees shall deem adequate to cover
possible tort liability, and such other insurance as the Trustees in their sole
judgment shall deem advisable or is required by the 1940 Act.

   5.5 Reliance on Experts, etc. Each Trustee and officer or employee of the
Trust shall, in the performance of its duties, be fully and completely justified
and protected with regard to any act or any failure to act resulting from
reliance in good faith upon the books of account or other records of the Trust,
upon an opinion of counsel, or upon reports made to the Trust by any of the
Trust's officers or employees or by any advisor, administrator, manager,
distributor, selected dealer, accountant, appraiser or other expert or
consultant selected with reasonable care by the Trustees, officers or employees
of the Trust, regardless of whether such counsel or expert may also be a
Trustee.

   Insofar as indemnification for liabilities arising under the Act, may be
terminated to Trustees, officers and controlling persons of the Trust, pursuant
to the foregoing provisions or otherwise, the Trust has been advised that in the
opinion of the Securities and Exchange Commission such indemnification is
against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by a Trustee, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
Trustee, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue. Reference is made to Article 8 of the underwriting
agreement attached as Exhibit (h), which is incorporated herein by reference.

Item 30. Business and Other Connections of Investment Advisor

   Not Applicable

Item 31. Location of Accounts and Records

   The Registrant's accounts, books and other documents are currently located at
the offices of the Registrant, c/o BlackRock Advisors, Inc., 100 Bellevue
Parkway, Wilmington, Delaware 19809 and at the offices of State Street Bank and
Trust Company, the Registrant's Custodian, and EquiServe Trust Company, N.A.,
the Registrant's Transfer Agent and Dividend Disbursing Agent.

                                      C-4


<PAGE>


Item 32. Management Services

   Not Applicable

Item 33. Undertakings

   (1) The Registrant hereby undertakes to suspend the offering of its units
until it amends its prospectus if (a) subsequent to the effective date of its
registration statement, the net asset value declines more than 10 percent from
its net asset value as of the effective date of the Registration Statement or
(b) the net asset value increases to an amount greater than its net proceeds as
stated in the prospectus.

   (2) Not applicable

   (3) Not applicable

   (4) Not applicable

   (5) (a) For the purposes of determining any liability under the Securities
Act of 1933, the information omitted form the form of prospectus filed as part
of a registration statement in reliance upon Rule 430A and contained in the form
of prospectus filed by the Registrant under Rule 497 (h) under the Securities
Act of 1933 shall be deemed to be part of the Registration Statement as of the
time it was declared effective.

   (b) For the purpose of determining any liability under the Securities Act of
1933, each post-effective amendment that contains a form of prospectus shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of the securities at that time shall be deemed to be
the initial bona fide offering thereof.

   (6) The Registrant undertakes to send by first class mail or other means
designed to ensure equally prompt delivery within two business days of receipt
of a written or oral request, any Statement of Additional Information.

                                      C-5


<PAGE>





                                   SIGNATURES

   Pursuant to the requirements of the Securities Act of 1933 and the Investment
Company Act of 1940, the Registrant has duly caused this Registration Statement
to be signed on its behalf by the undersigned, thereunto duly authorized, in the
City of New York, and State of New York, on the 29th day of October, 2002.



                                                /s/ Robert S. Kapito
                                      ------------------------------------------
                                                    Robert S. Kapito
                                         President and Chief Executive Officer


   Pursuant to the requirements of the Securities Act of 1933, this Registration
Statement has been signed by the following persons in the capacities set forth
below on the 29th day of October, 2002.



                      Name                                      Title
                      ----                                      -----

                       *                       Trustee, President and
   ------------------------------------------- Chief Executive Officer
              Ralph L. Schlosstein


                /s/ Henry Gabbay               Treasurer
   -------------------------------------------
                  Henry Gabbay


                       *                       Trustee
   -------------------------------------------
                Andrew F. Brimmer


                       *                       Trustee
   -------------------------------------------
               Richard E. Cavanagh


                       *                       Trustee
   -------------------------------------------
                   Kent Dixon


                       *                       Trustee
   -------------------------------------------
                Frank J. Fabozzi


                       *                       Trustee
   -------------------------------------------
                Robert S. Kapito


                       *                       Trustee
   -------------------------------------------
          James Clayburn La Force, Jr.


                       *                       Trustee
   -------------------------------------------
                Walter F. Mondale


   *By:   /s/ Robert S. Kapito
       ---------------------------------------
              Robert S. Kapito
              Attorney-in-fact



<PAGE>





                               INDEX TO EXHIBITS



 (l) Opinion and Consent of Counsel to the Trust

 (n) Consent of Independent Accountants


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(L)
<SEQUENCE>3
<FILENAME>file002.txt
<DESCRIPTION>OPINION AND CONSENT OF COUNSEL
<TEXT>
<PAGE>


                    SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
                                FOUR TIMES SQUARE
                             NEW YORK, NY 10036-6522

                                 (212) 735-3000


                                October 29, 2002



BlackRock Insured Municipal Income Trust
100 Bellevue Parkway
Wilmington, Delaware 19809

              Re: BlackRock Insured Municipal Income Trust
                  Registration Statement on Form N-2

Ladies and Gentlemen:

         We have acted as special counsel to BlackRock Insured Municipal Income
Trust, a statutory trust created under the Delaware Statutory Trust Act (the
"Trust"), in connection with the initial public offering by the Trust of up to
600,000 shares (including shares subject to an over-allotment option) of the
Trust's common shares (the "Shares") of beneficial interest, par value $0.001
per share (the "Common Shares").

         This opinion is being furnished in accordance with the requirements of
Item 24 of the Form N-2 Registration Statement under the Securities Act of 1933,
as amended (the "1933 Act"), and the Investment Company Act of 1940, as amended
(the "1940 Act").

         In connection with this opinion, we have examined originals or copies,
certified or otherwise identified to our satisfaction, of (i) the Notification
of Registration of the Trust as an investment company under the 1940 Act, on
Form N-8A, dated August 19, 2002, as filed with the Securities and Exchange
Commission (the "Commission") on August 19, 2002, (ii) the Registration
Statement of the Trust on Form N-2 (File Nos. 333-98357 and 811-21178), as filed
with the Commission on August 19, 2002 under the Securities Act of 1933, as
amended (the "1933 Act") and the 1940 Act, Pre-Effective Amendment No. 1
thereto, as filed with the Commission on September 5, 2002, Pre-Effective
Amendment No. 2 thereto, as filed with the Commission on September 24, 2002, and
Pre-Effective Amendment No. 3 thereto, as filed with the Commission on October
28, 2002, under the 1933 Act (such Registration Statement, as declared effective
on October 28, 2002, as so amended, being hereinafter referred to as the
"Registration Statement"); (iii) the Registration Statement of the Trust on Form
N-2 as filed with the Commission on October 29, 2002 deemed effective
automatically upon filing pursuant to Rule 462(b) under the 1933 Act (such
Registration Statement being hereinafter referred to as the "Supplemental
Registration Statement"); (iv) the Underwriting Agreement (the "Underwriting


<PAGE>

BlackRock Insured Municipal Income Trust
October 28, 2002
Page 2




Agreement") entered into between the Trust, as issuer, BlackRock Advisors, Inc.,
as investment adviser to the Trust, BlackRock Financial Management, Inc., as
investment sub-adviser to the Trust, and Salomon Smith Barney Inc., as
representative of the several underwriters named therein (the "Underwriters");
(v) a specimen certificate representing the Common Shares; (vi) the Corrected
Certificate of Trust, as filed with the Secretary of State of Delaware, and the
Amended and Restated Agreement and Declaration of Trust of the Trust, as
currently in effect; (vii) the Amended and Restated By-Laws of the Trust, as
currently in effect; (viii) certain resolutions of the Board of Trustees of the
Trust relating to the issuance and sale of the Shares and related matters; and
(ix) certain resolutions of the shareholders of the Trust adopted on October 22,
2002. We also have examined originals or copies, certified or otherwise
identified to our satisfaction, of such records of the Trust and such
agreements, certificates of public officials, certificates of officers or other
representatives of the Trust and others, and such other documents, certificates
and records as we have deemed necessary or appropriate as a basis for the
opinions set forth herein.

         In our examination, we have assumed the legal capacity of all natural
persons, the genuineness of all signatures, the authenticity of all documents
submitted to us as originals, the conformity to original documents of all
documents submitted to us as certified, conformed or photostatic copies and the
authenticity of the originals of such copies. In making our examina tion of
documents, we have assumed that the parties thereto, other than the Trust, had
or will have the power, corporate or other, to enter into and perform all
obligations thereunder and have also assumed the due authorization by all
requisite action, corporate or other, and execution and delivery by such parties
of such documents and the validity and binding effect thereof on such parties.
In rendering the opinion set forth below, we have assumed that the share
certificates representing the Shares will conform to the specimen examined by us
and will have been manually signed by an authorized officer of the transfer
agent and registrar for the Common Shares and registered by such transfer agent
and registrar. As to any facts material to the opinions expressed herein which
we have not independently established or verified, we have relied upon
statements and representations of officers and other representatives of the
Trust and others.

         Members of our firm are admitted to the bar in the State of Delaware
and we do not express any opinion as to the laws of any jurisdiction other than
the Delaware Statutory Trust Act.

         Based upon and subject to the foregoing, we are of the opinion that the
issuance and sale of the Shares will have been duly authorized when (i) the
Supplemental Registration Statement becomes effective; (ii) certificates
representing the Shares in the form of the specimen certificate examined by us
have been manually signed by an authorized officer of the transfer
<PAGE>

BlackRock Insured Municipal Income Trust
October 28, 2002
Page 3



agent and registrar for the Common Shares and registered by such transfer agent
and registrar; and (iii) the Shares have been delivered to and paid for by the
Underwriters at a price per share not less than the per share par value of the
Common Shares as contemplated by the Underwriting Agreement, the Shares will be
validly issued, fully paid and nonassessable (except as provided in the last
sentence of Section 3.8 of the Agreement and Declaration of Trust).

         We hereby consent to the filing of this opinion with the Commission as
an exhibit to the Supplemental Registration Statement. We also consent to the
reference to our firm under the caption "Legal Opinions" in the Supplemental
Registration Statement. In giving this consent, we do not thereby admit that we
are included in the category of persons whose consent is required under Section
7 of the 1933 Act or the rules and regulations of the Commission.

                                    Very truly yours,

                                    /s/ Skadden, Arps, Slate, Meagher & Flom LLP





</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(N)
<SEQUENCE>4
<FILENAME>file003.txt
<DESCRIPTION>CONSENT OF INDEPENDENT ACCOUNTANTS
<TEXT>
<PAGE>



                                                                     Exhibit (n)

INDEPENDENT AUDITORS' CONSENT

We consent to the use in this Registration Statement filed with the Securities
and Exchange Commission under the Securities Act of 1933 and in this Amendment
No. 4 to the Registration Statement under the Investment Company Act of 1940 of
our report dated October 25, 2002, relating to the financial statements of the
BlackRock Insured Municipal Income Trust (Registration No. 811-21179) as of
October 21, 2002 and for the period then ended in the Statement of Additional
Information which is part of such Registration Statement.

We also consent to the reference to our Firm under the heading "Experts" in the
Registration Statement.

/s/ Deloitte & Touche LLP
Deloitte & Touche LLP

Boston, Massachusetts
October 29, 2002









</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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