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<SEC-DOCUMENT>0000930413-07-006205.txt : 20070726
<SEC-HEADER>0000930413-07-006205.hdr.sgml : 20070726
<ACCEPTANCE-DATETIME>20070726111951
ACCESSION NUMBER:		0000930413-07-006205
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070531
FILED AS OF DATE:		20070726
DATE AS OF CHANGE:		20070726
EFFECTIVENESS DATE:		20070726

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK VIRGINIA MUNICIPAL BOND TRUST
		CENTRAL INDEX KEY:			0001169034
		IRS NUMBER:				383645607
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21053
		FILM NUMBER:		071001278

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		888-825-2257

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>c49421_nq.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>

<BODY bgcolor="#ffffff">


<P align="left">&nbsp;</P>
<P align="center"><FONT face="serif">UNITED STATES </FONT><BR>
    <FONT face="serif">SECURITIES AND EXCHANGE COMMISSION </FONT><BR>
    <FONT face="serif">Washington, D.C. 20549 </FONT></P>
<P align="center"> <B><FONT size=4 face="serif">FORM N-Q </FONT></B></P>
<P align="center"> <B><FONT face="serif">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
      OF REGISTERED </FONT></B><BR>
    <B><FONT face="serif">MANAGEMENT INVESTMENT COMPANY </FONT></B></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
  <TR valign="bottom">
    <TD align=left nowrap><FONT face="serif">Investment Company Act
        file number:&nbsp;</FONT></TD>
    <TD align=left nowrap><div style="border-bottom:1px solid #000000"><font face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811-21053&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></TD>
  </TR>
</TABLE>
<BR>
<TABLE border=0 align="center" cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=center nowrap><div style="border-bottom:1px solid #000000"><font face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock
          Virginia Municipal Bond Trust&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></TD>
  </TR>
  <TR valign="bottom">
    <TD align=center><FONT face="serif">(Exact name of registrant as specified
        in charter)</FONT> </TD>
  </TR>
</TABLE>
<BR>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD width=51% align=left nowrap style="border-bottom:1px solid #000000;"><div align="center"><FONT face="serif">100
          Bellevue Parkway, Wilmington, DE</FONT> </div></TD>
    <TD width=30% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD width=19% align=left nowrap style="border-bottom:1px solid #000000;"><div align="center"><FONT face="serif">19809</FONT> </div></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><div align="center"><FONT face="serif">(Address of
          principal executive offices)</FONT> </div></TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap><div align="center"><FONT face="serif">(Zip code)</FONT> </div></TD>
  </TR>
</TABLE>
<BR>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=center><FONT face="serif">Robert S. Kapito, President</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=center><p><font size=1>&nbsp;</font></p></TD>
  </TR>
  <TR valign="bottom">
    <TD align=center nowrap><FONT face="sans-serif">BlackRock Virginia Municipal
        Bond Trust</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT face="serif">40
        East 52nd Street, New York, NY 10022</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=center nowrap><FONT face="serif">(Name and address of agent for
        service)</FONT> </TD>
  </TR>
</TABLE>
<BR>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD width=25% align=left nowrap><FONT face="serif">Registrant's telephone
        number, including area code:&nbsp;</FONT></TD>
    <TD width=75% align=left nowrap><div style="border-bottom:1px solid #000000"><font face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888-825-2257</font></div></TD>
  </TR>
</TABLE>
<BR>
<TABLE border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left nowrap><FONT face="serif">Date of fiscal year end: </FONT></TD>
    <TD align=left nowrap><div style="border-bottom:1px solid #000000"><font face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August
          31, 2007&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font> </div></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT face="serif">Date of reporting period:&nbsp;</FONT></TD>
    <TD align=left nowrap><div style="border-bottom:1px solid #000000"><font face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;May
          31, 2007&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font> </div></TD>
  </TR>
</TABLE>
<BR>
<HR noshade width="100%" size=4>
<P align="left" style="page-break-before:always"></P>
<PAGE>
<P align="left"> <B><FONT face="serif">Item 1. Schedule of Investments.</FONT></B> </P>
<P align="left"> <FONT face="serif">The Registrant&#146;s unaudited schedule
    of investments as of the close of the reporting period pursuant to Rule 30b1-5
    under the Investment Company Act of 1940 is as follows: </FONT></P><P align="left">
<B><FONT face="serif">PORTFOLIO OF INVESTMENTS (unaudited) <br>
MAY 31, 2007 </FONT></B><B><FONT face="serif"><br>
BlackRock Virginia Municipal Bond Trust (BHV)</FONT></B><B><FONT face="serif"> </FONT></B><B><FONT size=2 face="serif"><br>
(Percentages shown are based on Net Assets) </FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=center>
<B><FONT size=2 face="serif">Principal</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=center>
<B><FONT size=2 face="serif">Amount</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right nowrap>
    <div align="center"><B><FONT size=2 face="serif">Option Call</FONT></B>
    </div></TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=center style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">(000)</FONT></B>
  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  </TD>
  <TD width="90%" align=center style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Description</FONT></B>
  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;
  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
    <div align="center"><B><FONT size=2 face="serif">Provisions</FONT></B><B><SUP><FONT size=2 face="serif">1</FONT></SUP></B>
    </div></TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  </TD>
  <TD align=left style="border-bottom:1px solid #000000;">&nbsp;

  </TD>
  <TD align=center style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Value</FONT></B>
</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<B><FONT size=2 face="serif">LONG-TERM INVESTMENTS&#151;152.1%</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<B><FONT size=2 face="serif">District of Columbia&#151;7.3%</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Met. Washington Arpts. Auth., Port, Arpt. &amp; Marina Impvts. RB,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">&#36;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,500</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. A, 5.25%, 10/01/32, FGIC, AMT</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">10/12 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>
<FONT size=2 face="serif">&#36;</FONT>
  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,558,485</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>
<FONT size=2 face="serif">250</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. B, 5.00%, 10/01/34, FSA, AMT</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">10/14 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left><div style="border-bottom:1px solid #000000">&nbsp;</div>

  </TD>
  <TD align=right><div style="border-bottom:1px solid #000000"> <font size=2 face="serif">257,405</font>&nbsp;</div></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left><div style="border-bottom:1px solid #000000">&nbsp;</div>

  </TD>
  <TD align=right><div style="border-bottom:1px solid #000000"> <font size=2 face="serif">1,815,890</font>&nbsp;</div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<B><FONT size=2 face="serif">Multi-State&#151;6.8%</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">1,500</FONT>
  </TD>
  <TD><SUP><FONT size=2 face="serif">2</FONT></SUP>
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Charter Mac Equity Issuer Trust, Ser. B-2, 7.20%, 10/31/52</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">10/14 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left><div style="border-bottom:1px solid #000000">&nbsp;</div>

  </TD>
  <TD align=right><div style="border-bottom:1px solid #000000"> <font size=2 face="serif">1,684,305</font>&nbsp;</div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<B><FONT size=2 face="serif">Puerto Rico&#151;5.7%</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">1,350</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Children's Trust Fund, Tobacco Settlement Funded RB, 5.375%, 5/15/33</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">05/12 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left><div style="border-bottom:1px solid #000000">&nbsp;</div>

  </TD>
  <TD align=right><div style="border-bottom:1px solid #000000"> <font size=2 face="serif">1,411,857</font>&nbsp;</div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<B><FONT size=2 face="serif">Virginia&#151;132.3%</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">1,435</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Alexandria Redev. &amp; Hsg. Auth., Local Hsg. RB, 3001 Pk. Ctr. Apts. Proj., Ser. A, 6.375%,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">4/01/34</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">04/08 @ 103</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,489,042</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">2,150</FONT>
  </TD>
  <TD><SUP><FONT size=2 face="serif">3</FONT></SUP>
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Arlington Cnty. Ind. Dev. Auth., Hlth., Hosp. &amp; Nursing Home Impvts. RB, Virginia Hosp.</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ctr. Arlington Hlth. Sys. Proj., 5.25%, 7/01/11</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">2,275,216</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">1,500</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Celebrate North Cmnty. Dev. Auth., Wtr. Util. Impvts. SA, Ser. B, 6.75%, 3/01/34</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">03/14 @ 102</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,598,655</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>
<FONT size=2 face="serif">1,000</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">City of Hampton, Pub. Impvts. Ad Valorem Ppty. Tax GO, 5.00%, 4/01/20</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">04/12 @ 101</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,047,710</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">3,000</FONT>
  </TD>
  <TD><SUP><FONT size=2 face="serif">3</FONT></SUP>
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">City of Richmond, Natural Gas RB, 5.00%, 1/15/12, FSA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">3,140,790</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>
<FONT size=2 face="serif">1,275</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Cnty. of Prince William, Pub. Impvt. Lease Approp. RB, 5.00%, 12/01/21</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">06/12 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,319,408</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">1,500</FONT></TD>
  <TD><SUP><FONT size=2 face="serif">4</FONT></SUP>
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Danville Ind. Dev. Auth., Hlth., Hosp. &amp; Nursing Home RB, Danville Regl. Med. Ctr. Proj.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">5.25%, 10/01/28, AMBAC</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">ETM</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,652,385</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">980</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Dulles Town Ctr. Cmnty. Dev. Auth., Pub. Impvts. SA, Dulles Town Ctr. Proj., 6.25%,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">3/01/26</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">03/08 @ 102</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,010,939</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">1,000</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Fairfax Cnty. Econ. Dev. Auth., Local or Gtd. Housing Retirment Facs. RB, Goodwin House,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">Inc. Proj., 5.125%, 10/01/37</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">10/17 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,015,570</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">1,205</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Fairfax Cnty. Wtr. Auth., Wtr. RB, 5.00%, 4/01/27</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">04/12 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,243,512</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>
<FONT size=2 face="serif">1,500</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Henrico Cnty. Econ. Dev. Auth., Hlth., Hosp. &amp; Nursing Home RB, Bon Secours Hlth. Sys.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">Inc. Proj., Ser. A, 5.60%, 11/15/30</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">11/12 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,574,565</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>
<FONT size=2 face="serif">3,000</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Hsg. Dev. Auth., Local Hsg. RB, Ser. H, 5.375%, 7/01/36, MBIA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">07/11 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">3,126,330</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">1,300</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Isle Wight Cnty. Indl. Dev. Auth., Mult. Util. Impvts. Misc. RB, Intl. Paper Co. Proj., Ser. A,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">5.70%, 11/01/27, AMT</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">11/13 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,366,534</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">1,500</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Norfolk Arpt. Auth., Port, Arpt. &amp; Marina Impvts. RB, Ser. A, 5.125%, 7/01/31, FGIC</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">07/11 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,543,740</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>
<FONT size=2 face="serif">500</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Peninsula Ports Auth., Hlth., Hosp. &amp; Nursing Home RB, Baptist Homes Proj., Ser. C, 5.40%,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">12/01/33</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">12/16 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">515,740</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>
<FONT size=2 face="serif">5,000</FONT>
  </TD>
  <TD><SUP><FONT size=2 face="serif">3</FONT></SUP>
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Pocahontas Pkwy. Assoc. Toll Rd., Hwy. Tolls RB, Ser. B, Zero Coupon, 8/15/08, ACA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">2,173,050</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">1,000</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Port Auth., Port, Arpt. &amp; Marina Impvts. RB, 4.75%, 7/01/31, FGIC, AMT</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">07/13 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,006,260</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Res. Auth., Wtr. Util. Impvts. Misc. RB,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">1,500</FONT>
  </TD>
  <TD><SUP><FONT size=2 face="serif">3</FONT></SUP>
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">Frederick Cnty. San. Auth. Proj., 5.20%, 10/01/10</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,563,660</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>
<FONT size=2 face="serif">635</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">Infrastructure Proj., Ser. A, 5.125%, 5/01/27</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">05/11 @ 101</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">658,914</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">1,250</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Richmond Met. Auth. Expwy., Hwy. Rev. Tolls RB, 5.25%, 7/15/22, FGIC</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">No Opt. Call</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,392,787</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>
<FONT size=2 face="serif">500</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Stafford Cnty. Econ. Dev. Auth., Hlth., Hosp. &amp; Nursing Home Impvts. RB, Medicorp Hlth.</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">Sys. Oblig. Proj., 5.25%, 6/15/37</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">06/16 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">517,815</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Virginia Coll. Bldg. Auth., Coll. &amp; Univ. RB, Washington &amp; Lee Univ. Proj.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">500</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">5.25%, 1/01/26, MBIA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">No Opt. Call</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">559,295</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>
<FONT size=2 face="serif">1,000</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">5.25%, 1/01/31, MBIA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">No Opt. Call</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left><div style="border-bottom:1px solid #000000">&nbsp;</div>

  </TD>
  <TD align=right><div style="border-bottom:1px solid #000000"> <font size=2 face="serif">1,132,750</font>&nbsp;</div></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left><div style="border-bottom:1px solid #000000">&nbsp;</div>

  </TD>
  <TD align=right><div style="border-bottom:1px solid #000000"> <font size=2 face="serif">32,924,667</font>&nbsp;</div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<B><FONT size=2 face="serif">Total Long-Term Investments </FONT></B><FONT size=2 face="serif">(cost &#36;35,334,906)</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left><div style="border-bottom:1px solid #000000">&nbsp;</div>

  </TD>
  <TD align=right><div style="border-bottom:1px solid #000000"> <font size=2 face="serif">37,836,719</font>&nbsp;</div></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<B><FONT size=2 face="serif">SHORT-TERM INVESTMENT&#151;0.4%</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
<B><FONT size=2 face="serif">Virginia&#151;0.4%</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;&nbsp;&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>
<FONT size=2 face="serif">100</FONT></TD>
  <TD><SUP><FONT size=2 face="serif">5</FONT></SUP>
  </TD>
  <TD width="90%" align=left>
<FONT size=2 face="serif">Loudoun Cnty. Indl. Dev. Auth., Misc. RB, Howard Hughes Med. Inst. Proj., Ser. C, 3.93%,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  &nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="90%" align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">6/01/07, FRDD (cost &#36;100,000)</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>
    <div style="border-bottom:1px solid #000000">&nbsp;</div></TD>
  <TD align=right><div style="border-bottom:1px solid #000000"> <font size=2 face="serif">100,000</font>&nbsp;</div></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD width="90%" align=left><B><FONT size=2 face="serif">Total Investments &#151;152.5% </FONT></B><FONT size=2 face="serif">(cost &#36;35,434,906</FONT><SUP><FONT size=2 face="serif">6</FONT></SUP><FONT size=2 face="serif">)</FONT> </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>
<FONT size=2 face="serif">&#36;</FONT>
  </TD>
  <TD align=right>
<FONT size=2 face="serif">37,936,719</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD width="90%" align=left><FONT size=2 face="serif">Other assets in excess of liabilities &#151;1.9%</FONT> </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=right>
<FONT size=2 face="serif">480,087</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD width="90%" align=left><FONT size=2 face="serif">Preferred shares at redemption value,
      including dividends payable &#151;(54.4)%</FONT> </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left><div style="border-bottom:1px solid #000000">&nbsp;</div>

  </TD>
  <TD align=right><div style="border-bottom:1px solid #000000"> <font size=2 face="serif">(13,533,299) </font> </div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD width="90%" align=left><B><FONT size=2 face="serif">Net Assets Applicable to Common
        Shareholders &#151;100%</FONT></B> </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left><div style="border-bottom:3px double #000000"> <font size=2 face="serif">&#36;</font> </div></TD>
  <TD align=right><div style="border-bottom:3px double #000000"> <font size=2 face="serif">24,883,507</font>&nbsp;</div></TD>
</TR>
</TABLE>
<BR>
<P align="center"><font size="2">1</font></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>
<P align="left">
<B><FONT face="serif">BlackRock Virginia Municipal Bond Trust (BHV) (continued)</FONT></B><B><FONT color="#ff0000" face="serif"> </FONT></B><B><FONT size=2 face="sans-serif"><br>
(</FONT></B><B><FONT size=2 face="serif">Percentages shown
are based on Net Assets)</FONT></B><B><FONT size=2 face="sans-serif"> </FONT></B></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD colspan="2" valign=top nowrap><div style="border-bottom:1px solid #000000; width:100px">&nbsp;</div>
    </TD>
  </TR>
<TR>
  <TD colspan="2" valign=top nowrap><p><font size=1>&nbsp;</font></p>
    </TD>
  </TR>
<TR>
  <TD nowrap valign=top>
<FONT size=1 face="serif">1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD width=100%>
<FONT size=2 face="serif">Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.</FONT>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=1 face="serif">2</FONT></TD>
  <TD width=100%>
<FONT size=2 face="serif">Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of May 31, 2007, the Trust held
6.8% of its net assets, with a current market value of &#36;1,684,305, in securities restricted as to resale.</FONT>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=1 face="serif">3</FONT></TD>
  <TD width=100%>
<FONT size=2 face="serif">This bond is prerefunded. U.S. government securities, held in escrow, are used to pay interest on this security, as well as retire the bond in full at the date indicated, typically at a premium to par.</FONT>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=1 face="serif">4</FONT></TD>
  <TD width=100%>
<FONT size=2 face="serif">Security is collateralized by Municipal or U.S. Treasury obligations.</FONT>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=1 face="serif">5</FONT></TD>
  <TD width=100%>
<FONT size=2 face="serif">For purposes of amortized cost valuation, the maturity date of this instrument is considered to be the earlier of the next date on which the security can be redeemed at par, or the next date on which the rate of interest is
adjusted. Rate shown is rate as of May 31, 2007.</FONT>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=1 face="serif">6</FONT></TD>
  <TD width=100%>
<FONT size=2 face="serif">Cost for federal income tax purposes is &#36;35,365,774. The net unrealized appreciation on a tax basis is &#36;2,570,945, consisting of &#36;2,591,084 gross unrealized appreciation and &#36;20,139 gross unrealized
depreciation.</FONT>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<div style="border-bottom:1px solid #000000">&nbsp;</div>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="7" align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD colspan="7" align=left>  <div align="center"><B><FONT size=2 face="serif">KEY TO ABBREVIATIONS</FONT></B>
  </div></TD>
  </TR>
<TR>
  <TD colspan=7>&nbsp;

  </TD>
</TR>
<TR valign="bottom">
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">ACA</FONT>
    </div></TD>
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">&#151;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
    </div></TD>
  <TD align=left>
<FONT size=2 face="serif">American Capital Access</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">FSA</FONT>
    </div></TD>
  <TD align=left>
<FONT size=2 face="serif">&#151;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
  </TD>
  <TD align=left>
<FONT size=2 face="serif">Financial Security Assurance</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">AMBAC</FONT>
    </div></TD>
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">&#151;</FONT>
    </div></TD>
  <TD align=left>
<FONT size=2 face="serif">American Municipal Bond Assurance Corp.</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">GO</FONT>
    </div></TD>
  <TD align=left>
<FONT size=2 face="serif">&#151;</FONT>
  </TD>
  <TD align=left>
<FONT size=2 face="serif">General Obligation</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">AMT</FONT>
    </div></TD>
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">&#151;</FONT>
    </div></TD>
  <TD align=left>
<FONT size=2 face="serif">Subject to Alternative Minimum Tax</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">MBIA</FONT>
    </div></TD>
  <TD align=left>
<FONT size=2 face="serif">&#151;</FONT>
  </TD>
  <TD align=left>
<FONT size=2 face="serif">Municipal Bond Insurance Assoc.</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">ETM</FONT>
    </div></TD>
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">&#151;</FONT>
    </div></TD>
  <TD align=left>
<FONT size=2 face="serif">Escrowed to Maturity</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">RB</FONT>
    </div></TD>
  <TD align=left>
<FONT size=2 face="serif">&#151;</FONT>
  </TD>
  <TD align=left>
<FONT size=2 face="serif">Revenue Bond</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">FGIC</FONT>
    </div></TD>
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">&#151;</FONT>
    </div></TD>
  <TD align=left>
<FONT size=2 face="serif">Financial Guaranty Insurance Co.</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">SA</FONT>
    </div></TD>
  <TD align=left>
<FONT size=2 face="serif">&#151;</FONT>
  </TD>
  <TD align=left>
<FONT size=2 face="serif">Special Assessment</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">FRDD</FONT>
    </div></TD>
  <TD align=right>
    <div align="left"><FONT size=2 face="serif">&#151;</FONT>
    </div></TD>
  <TD align=left>
<FONT size=2 face="serif">Floating Rate Daily Demand</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  </TD>
  <TD align=left>&nbsp;

  </TD>
</TR>
</TABLE>
<div style="border-bottom:1px solid #000000">&nbsp;</div>
<BR>

<P align="center"><font size="2">2</font></P>
<hr noshade align="center" width="100%" size=4>

<P align="left" style="page-break-before:always"></P><PAGE>
<P align="left"><B><FONT face="serif">Item 2. Controls and Procedures.</FONT></B></P>
<P align="left"><FONT face="serif">(a) The Registrant's principal executive and
    principal financial officers have evaluated the Registrant's disclosure controls
    and procedures within 90 days of this filing and have concluded, as of that
    date, that the Registrant&#146;s disclosure controls and procedures were
    reasonably designed to ensure that information required to be disclosed by
    the Registrant in this Form N-Q was recorded, processed, summarized, and
    reported within the required time periods and that information to be disclosed
    by the Registrant in this Form N-Q was accumulated and communicated to the
    Registrant&#146;s management, including its principal executive and principal
    financial officers, as appropriate, to allow timely decisions regarding required
    disclosure. </FONT> </P>
<P align="left"><FONT face="serif">(b) There were no changes in the Registrant's
    internal control over financial reporting (as defined in Rule 30a-3(d) under
    the 1940 Act (17 CFR 270.30a -3(d)) that occurred during the Registrant's
    last fiscal quarter that have materially affected, or are reasonably likely
    to materially affect, the Registrant's internal control over financial reporting. </FONT></P>
<P align="left"><B><FONT face="serif">Item 3. Exhibits.</FONT></B> </P>
<P align="left"> <FONT face="serif">Separate certifications of the Registrant&#146;s
    Principal Executive and Financial Officers pursuant to Section 302 of the
    Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT. </FONT></P>
<br>

<HR noshade width="100%" size=4>
<P align="left" style="page-break-before:always"></P>
<PAGE>
<P align="center"> <B><FONT face="serif">SIGNATURES</FONT></B></P>
<P align="left"><FONT face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
    to the requirements of the Securities Exchange Act of 1934 and the Investment
    Company Act of 1940, the Registrant has duly caused this report to be signed
    on its behalf by the undersigned, thereunto duly authorized. </FONT></P>
<table  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td><FONT face="serif">(Registrant)</FONT>&nbsp;</td>
    <td><div style="border-bottom:1px solid #000000"><font face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock
          Virginia Municipal Bond Trust&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD width=2% align=left nowrap><FONT face="serif">By:&nbsp;</FONT></TD>
    <TD width=98% align=left nowrap><div style="border-bottom:1px solid #000000"><font face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
          Donald C. Burke</font></div></TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="2" align=left nowrap><FONT face="serif">Name: Donald C. Burke</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="2" align=left nowrap><FONT face="serif">Title: Treasurer and
        Principal Financial Officer</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="2" align=left nowrap><FONT face="serif">Date: July 25, 2007</FONT> </TD>
  </TR>
</TABLE>
<BR>
<P align="left"> <FONT face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
    to the requirements of the Securities Exchange Act of 1934 and the Investment
    Company Act of 1940, this report has been signed below by the following persons
    on behalf of the Registrant and in the capacities and on the dates indicated. </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left nowrap><FONT face="serif">By:&nbsp;</FONT></TD>
    <TD align=left nowrap><div style="border-bottom:1px solid #000000"><font face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
          Robert S. Kapito</font></div></TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="2" align=left nowrap><FONT face="serif">Name: Robert S. Kapito</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="2" align=left nowrap><FONT face="serif">Title: President and
        Principal Executive Officer</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="2" align=left nowrap><FONT face="serif">Date: July 25, 2007</FONT> </TD>
  </TR>
  <TR>
    <TD width="2%">&nbsp;</TD>
    <TD width="98%">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT face="serif">By:&nbsp;</FONT></TD>
    <TD align=left nowrap><div style="border-bottom:1px solid #000000"><font face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
          Donald C. Burke</font></div></TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="2" align=left nowrap><FONT face="serif">Name: Donald C. Burke</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="2" align=left nowrap><FONT face="serif">Title: Treasurer and
        Principal Financial Officer</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="2" align=left nowrap><FONT face="serif">Date: July 25, 2007</FONT> </TD>
  </TR>
</TABLE>
<BR>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>c49421_ex99-cert.htm
<TEXT>

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<BODY bgcolor="#ffffff">


<P align="right">
<B><FONT face="serif">EX-99.CERT </FONT></B></P>
<P align="center">
<B><FONT face="serif">CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER </FONT></B></P>
<P align="center">
<B><U><FONT face="serif">CERTIFICATIONS</FONT></U></B><B><FONT face="serif"> </FONT></B></P>
<P align="left">
<FONT face="serif">I, Robert S. Kapito, certify that: </FONT></P>
<P align="left">
<FONT face="serif">1. I have reviewed this report on Form N-Q of BlackRock Virginia
Municipal Bond Trust; </FONT></P>
<P align="left">
<FONT face="serif">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by this report; </FONT></P>
<P align="left">
<FONT face="serif">3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the Registrant as of the end of the fiscal quarter for which the report is filed; </FONT></P>
<P align="left">
<FONT face="serif">4. The Registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have: </FONT></P>
<P align="left">
<FONT face="serif">(a)</FONT><FONT size=2 face="sans-serif"> </FONT><FONT face="serif">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material
information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </FONT></P>
<P align="left">
<FONT face="serif">(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, 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; </FONT></P>
<P align="left">
<FONT face="serif">(c)</FONT><FONT size=2 face="sans-serif"> </FONT><FONT face="serif">Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and</FONT><FONT size=2 face="sans-serif"> </FONT></P>
<P align="left">
<FONT face="serif">(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the Registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and </FONT></P>

<P align="left">
<FONT face="serif">5. The Registrant's other certifying officer(s) and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions): </FONT></P>
<P align="left">
<FONT face="serif">(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process,
summarize, and report financial information; and </FONT></P>
<P align="left">
<FONT face="serif">(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting. </FONT></P>
<P align="left">
<FONT face="serif">Date: July 25, 2007 </FONT></P>
<div style="margin-left:50%">
  <table border=0 cellspacing=0 cellpadding=0>
    <tr valign="bottom">
      <td align=center><div style="border-bottom:1px solid #000000"><font face="serif">/s/
            Robert S. Kapito</font></div></td>
    </tr>
    <tr valign="bottom">
      <td align=center><font face="serif">Robert S. Kapito</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=center nowrap><font face="serif">President and Principal Executive
          Officer</font> </td>
    </tr>
  </table>
</div>
<BR>

<HR noshade width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>
<P align="right">
<B><FONT face="serif">EX-99.CERT </FONT></B></P>
<P align="center">
<B><FONT face="serif">CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER </FONT></B></P>
<P align="center">
<B><U><FONT face="serif">CERTIFICATIONS</FONT></U></B><B><FONT face="serif"> </FONT></B></P>
<P align="left">
<FONT face="serif">I, Donald C. Burke, certify that: </FONT></P>
<P align="left">
<FONT face="serif">1. I have reviewed this report on Form N-Q of BlackRock Virginia
Municipal Bond Trust; </FONT></P>
<P align="left">
<FONT face="serif">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by this report; </FONT></P>
<P align="left">
<FONT face="serif">3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the Registrant as of the end of the fiscal quarter for which the report is filed; </FONT></P>
<P align="left">
<FONT face="serif">4. The Registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have: </FONT></P>
<P align="left">
<FONT face="serif">(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its
consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </FONT></P>
<P align="left">
<FONT face="serif">(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, 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; </FONT></P>
<P align="left">
<FONT face="serif">(c)</FONT><FONT size=2 face="sans-serif"> </FONT><FONT face="serif">Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and</FONT><FONT size=2 face="sans-serif"> </FONT></P>
<P align="left">
<FONT face="serif">(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the Registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and </FONT></P>

<P align="left">
<FONT face="serif">5. The Registrant's other certifying officer(s) and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions): </FONT></P>
<P align="left">
<FONT face="serif">(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process,
summarize, and report financial information; and </FONT></P>
<P align="left">
<FONT face="serif">(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting. </FONT></P>
<P align="left">
<FONT face="serif">Date: July 25, 2007 </FONT></P>
<div style="margin-left:50%">
  <table border=0 cellspacing=0 cellpadding=0>
    <tr valign="bottom">
      <td align=center><div style="border-bottom:1px solid #000000"><font face="serif">/s/
            Donald C. Burke</font> </div></td>
    </tr>
    <tr valign="bottom">
      <td align=center><font face="serif">Donald C. Burke</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=center nowrap><font face="serif">Treasurer and Principal Financial
          Officer</font> </td>
    </tr>
  </table>
</div>
<BR>

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