<DOCUMENT>
<TYPE>EX-99.(D)(2)
<SEQUENCE>3
<FILENAME>a2082156zex-99_d2.txt
<DESCRIPTION>EXHIBIT 99(D)(2)
<TEXT>
<Page>

CERTIFICATE NO.                                                         SHARES
     1                                                                  541

                     BLACKROCK VIRGINIA MUNICIPAL BOND TRUST
                Organized Under the Laws of The State of Delaware
         Municipal Auction Rate Cumulative Preferred Shares - Series R7
                            $.001 Par Value Per Share
                    $25,000 Liquidation Preference Per Share

                              Cusip No.09248I 20 5

     This certifies that Cede & Co. is the owner of 541 fully paid and
non-assessable shares of Municipal Auction Rate Cumulative Preferred Shares -
Series R7, $.001 par value per share, $25,000 liquidation preference per share,
of BlackRock Virginia Municipal Bond Trust (the "Trust") transferable only on
the books of the Trust by the holder thereof in person or by duly authorized
Attorney upon surrender of this Certificate properly endorsed. This Certificate
is not valid unless countersigned by the transfer agent and registrar.

A statement in full, of all the designations, preferences, qualifications,
limitations, restrictions and special or relative rights of the shares of each
class authorized to be issued, will be furnished by the Trust to any
shareholders upon request and without charge.

IN WITNESS WHEREOF, the Trust has caused this Certificate to be signed by its
duly authorized officers this 14th day of June 2002

THE BANK OF NEW YORK                           BLACKROCK VIRGINIA
As Transfer Agent and Registrar                MUNICIPAL BOND TRUST

By:                                            By:
   ------------------------------                 ------------------------------
      Joe Panepinto                                   Kevin Klingert
      Vice President                                  Vice President

                     Attest:
                            ------------------------
                             Anne F. Ackerley
                             Secretary

<Page>

FOR VALUE RECEIVED, __________________ hereby sells, assigns and transfers
______ Shares represented by this Certificate unto _______________ , and do
hereby irrevocably constitute and appoint ________________ Attorney to transfer
the said Shares on the books of the within named Trust with full power of
substitution in the premises.

Dated ______________, 20__

In presence of

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

Shares of Municipal Auction Rate Cumulative Preferred Shares evidenced by this
Certificate may be sold, transferred, or otherwise disposed of only pursuant to
the provisions of the Trust's Amended and Restated Agreement and Declaration of
Trust and the Trust's Statement of Preferences.

The Trust will furnish to any shareholder, upon request and without charge, the
Trust's Amended and Restated Agreement and Declaration of Trust and a full
statement of the designations, preferences, limitations and relative rights of
the shares of each class or series of capital stock of the Trust authorized to
be issued, so far as they have been determined, and the authority of the Board
of Trustees to determine the relative rights and preferences of subsequent
classes or series. Any such request should be addressed to the Secretary of the
Trust.

Unless this certificate is presented by an authorized representative of The
Depository Trust Company, a New York corporation ("DTC"), to the Trust or its
agent for registration of transfer, exchange, or payment, and any certificate
issued is registered in the name of Cede & Co. or in such other name as is
requested by an authorized representative of DTC (and any payment is made to
Cede & Co. or to such other entity as is requested by an authorized
representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner
hereof, Cede & Co., has an interest herein.

</TEXT>
</DOCUMENT>
