<DOCUMENT>
<TYPE>EX-99.77O
<SEQUENCE>3
<FILENAME>c50460_ex99-77o.txt
<TEXT>
                                                                  Exhibit 99.77O

                                   FORM 10f-3

                               THE BLACKROCK FUNDS

                         RECORD OF SECURITIES PURCHASED
                     UNDER THE TRUST'S RULE 10f-3 PROCEDURES

1.   Name of Purchasing Portfolio: The BlackRock Pennsylvania Strategic
     Municipal Trust (BPS), BlackRock MuniYield Pennsylvania Insured Fund, Inc.
     (MPA), BlackRock MuniYield Insured Fund, Inc. (MYI), BlackRock California
     Insured Municipal Bond Fund (BR-CAINS), BlackRock National Municipal Fund
     (BR-NATL), BlackRock MuniYield California Insured Fund, Inc. (MCA2),
     BlackRock MuniHoldings Fund, Inc. (MHD), BlackRock MuniHoldings Fund II,
     Inc. (MUH), BlackRock MuniYield Fund, Inc. (MYD), BlackRock New York
     Municipal Income Trust II (BFY), BlackRock Virginia Municipal Bond Trust
     (BHV), BlackRock New Jersey Municipal Bond Trust (BLJ), BlackRock New
     Jersey Municipal Income Trust (BNJ), BlackRock New York Municipal Income
     Trust (BNY), BlackRock New York Municipal Bond Trust (BQH), BlackRock
     Delaware Municipal Bond Portfolio (BR-DE), BlackRock New Jersey Municipal
     Bond Fund (BR-NJMUNI), BlackRock New York Municipal Bond Fund (BR-NY),
     BlackRock Pennsylvania Municipal Bond Fund (BR-PAMUNI), BlackRock New York
     Insured Municipal Income Trust (BSE), BlackRock Insured Municipal Income
     Trust (BYM), BlackRock Maryland Municipal Bond Trust (BZM), BlackRock
     MuniEnhanced Fund, Inc. (MEN), BlackRock MuniYield Florida Insured Fund,
     Inc. (MFT), BlackRock MuniHoldings New York Insured Fund, Inc. (MHN),
     BlackRock MuniYield New Jersey Insured Fund, Inc. (MJI), BlackRock
     MuniYield Quality Fund II, Inc. (MQT), BlackRock MuniYield Quality Fund,
     Inc. (MQY), BlackRock MuniHoldings Insured Fund II, Inc. (MUE), BlackRock
     MuniHoldings New Jersey Insured Fund, Inc. (MUJ), BlackRock MuniYield New
     Jersey Fund, Inc. (MYJ), BlackRock MuniYield New York Insured Fund, Inc.
     (MYN), BlackRock MuniYield Arizona Fund, Inc. (MZA), The BlackRock NJ
     Investment Quality Municipal Trust (RNJ), The BlackRock NY Investment
     Quality Municipal Trust (RNY).

2.   Issuer: Puerto Rico Sales Tax Financing Corporation

3.   Date of Purchase: 7/13/2007

4.   Underwriter from whom purchased: Goldman Sachs & Co.

5.   Name of Affiliated Underwriter (as defined in the Trust's procedures)
     managing or participating in syndicate: Merrill Lynch & Co.

6.   Aggregate principal amount of purchased (out of total offering):
     207,935,000 out of 2,667,603,572.60


                                        1
<PAGE>

7.   Aggregate principal amount purchased by funds advised by BlackRock and any
     purchases by other accounts with respect to which BlackRock has investment
     discretion (out of the total offering): 218,335,000 out of 2,667,603,572.60

8.   Purchase price (net of fees and expenses): (Capital Appreciation) 2043
     16.84, 2045 15.085,2047 13.549,2054 9.206, (Current Interest) 2057 102.741

9.   Date offering commenced: 7/13/2007

10.  Offering price at end of first day on which any sales were made: 2045
     15.367,2054 9.416

11.  Have the following conditions been satisfied:                 YES    NO
                                                                   ---    --

     a.   The securities are part of an issue registered
          under the Securities Act of 1933, as amended,
          which is being offered to the public, OR are
          Eligible Municipal Securities, OR are securities
          sold in an Eligible Foreign Offering OR are
          securities sold in an Eligible Rule 144A Offering OR
          part of an issue of government securities.               __X__  ______

     b.   The securities were purchased prior to the end of
          the first day on which any sales were made, at a
          price that was not more than the price paid by
          each other purchaser of securities in that
          offering or in any concurrent offering of the
          securities (except, in the case of an Eligible
          Foreign Offering, for any rights to purchase
          required by laws to be granted to existing
          security holders of the Issuer) OR, if a rights
          offering, the securities were purchased on or
          before the fourth day preceding the day on which
          the rights offering terminated.                          __X__  ______

     c.   The underwriting was a firm commitment
          underwriting.                                            __X__  ______

     d.   The commission, spread or profit was reasonable
          and fair in relation to that being received by
          others for underwriting

                             2
<PAGE>

          similar securities during the same period.               __X__  ______

     e.   In respect of any securities other than Eligible
          Municipal Securities, the issuer of such
          securities has been in continuous operation for
          not less than three years (including the
          operations of predecessors).                             __X__  ______

     f.   Has the affiliated underwriter confirmed that it
          will not receive any direct or indirect benefit
          as a result of BlackRock's participation in the
          offering?                                                __X__  ______






Approved:       Walter O'Connor                         Date: _7/16/07______
           ------------------------


                                        3
<PAGE>

                                   FORM 10f-3

                               THE BLACKROCK FUNDS

                         RECORD OF SECURITIES PURCHASED
                     UNDER THE TRUST'S RULE 10f-3 PROCEDURES

1.   Name of Purchasing Portfolio: BlackRock MuniYield Fund, Inc. (MYD),
     BlackRock MuniHoldings Fund, Inc. (MHD), BlackRock MuniHoldings Fund II,
     Inc. (MUH), BlackRock Long-Term Municipal Advantage Trust (BTA),
     BlackRock Municipal Income Trust II (BLE), BlackRock Municipal Income
     Trust (BFK), BlackRock Municipal Bond Trust (BBK), BlackRock Investment
     Quality Municipal Trust (BKN), BlackRock Strategic Municipal Trust (BSD),
     BlackRock California Insured Municipal Bond Fund (BR-CAINS), BlackRock
     MuniHoldings California Insured Fund, Inc. (MUC), BlackRock MuniYield
     California Insured Fund, Inc. (MCA2), BlackRock California Insured
     Municipal Income Trust (BCK), BlackRock MuniYield New Jersey Fund, Inc.
     (MYJ), BlackRock New Jersey Municipal Bond Fund (BR-NJMUNI), The BlackRock
     NJ Investment Quality Municipal Trust (RNJ), BlackRock New Jersey Municipal
     Income Trust (BNJ), BlackRock Virginia Municipal Bond Trust (BHV),
     BlackRock Delaware Municipal Bond Portfolio (BR-DE), Separate Accounts,
     P.I.

2.   Issuer: Puerto Rico Electric Power Authority

3.   Date of Purchase: 4/20/2007

4.   Underwriter from whom purchased: J.P. Morgan

5.   Name of Affiliated Underwriter (as defined in the Trust's procedures)
     managing or participating in syndicate:

     Merrill Lynch


<PAGE>

6.   Aggregate principal amount of purchased (out of total offering):
     $96,025,000 out of $1,943,565,000.

7.   Aggregate principal amount purchased by funds advised by BlackRock and any
     purchases by other accounts with respect to which BlackRock has investment
     discretion (out of the total offering):
     $132,370,000 out of $1,943,565,000.

8.   Purchase price (net of fees and expenses): 107.456 in 2014, 107.983 of 5.00
     in 2015, 101.037 of 4.00 in 2015, 108.560 in 2016, 107.068 in 2017, 106.726
     in 2018, 109.550 in 2019, 106.130 in 2020, 108.017 in 2020, 105.876 in
     2021, 107.757 in 2021, 105.707 in 2022, 107.498 in 2022, 105.454 in 2023,
     107.326 in 2023, 107.154 in 2024, 104.867 in 2032, and 100 in 2029.

9.   Date offering commenced: 4/18/2007

10.  Offering price at end of first day on which any sales were made:

11.  Have the following conditions been satisfied:                  YES     NO
                                                                    ---     --

     a.   The securities are part of an issue registered
          under the Securities Act of 1933, as amended,
          which is being offered to the public, OR are
          Eligible Municipal Securities, OR are securities
          sold in an Eligible Foreign Offering OR are
          securities sold in an Eligible Rule 144A Offering
          OR part of an issue of government securities.            __X__  ______

     b.   The securities were purchased prior to the end of
          the first day on which any sales were made, at a
          price that was not more than the price paid by
          each other purchaser of securities in that
          offering or in any concurrent offering of the
          securities (except, in the case of an Eligible
          Foreign Offering, for any rights to purchase
          required by laws to be granted to existing
          security holders of the


<PAGE>

          Issuer) OR, if a rights offering, the securities
          were purchased on or before the fourth day
          preceding the day on which the rights offering
          terminated.                                              __X__  ______

     c.   The underwriting was a firm commitment
          underwriting.                                            __X__  ______

     d.   The commission, spread or profit was reasonable
          and fair in relation to that being received by
          others for underwriting similar securities during
          the same period.                                         __X__  ______

     e.   In respect of any securities other than Eligible
          Municipal Securities, the issuer of such
          securities has been in continuous operation for
          not less than three years (including the
          operations of predecessors).                             __X__  ______

     f.   Has the affiliated underwriter confirmed that it
          will not receive any direct or indirect benefit
          as a result of BlackRock's participation in the
          offering?                                                __X__  ______





Received from:     Janine Bianchino                     Date: _5/3/07_______
               -------------------------

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</DOCUMENT>
