-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DeJUsN/kYRTLKIc7L5HTyfaHDoHk8JA8cGlm825nW1Oonb1BtPGFbElK6tZqlgZv
 Kc9g1j24LsPD+TumxAMr8g==

<SEC-DOCUMENT>0000930413-08-004558.txt : 20080730
<SEC-HEADER>0000930413-08-004558.hdr.sgml : 20080730
<ACCEPTANCE-DATETIME>20080730101756
ACCESSION NUMBER:		0000930413-08-004558
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080531
FILED AS OF DATE:		20080730
DATE AS OF CHANGE:		20080730
EFFECTIVENESS DATE:		20080730

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:		08977615

	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>c54112_n-q.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE>c54112_n-q.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">





<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><BR>
<BR>
<B><FONT face="serif">FORM N-Q </FONT></B><BR>
<BR>
<B><FONT face="serif">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED </FONT></B><BR>
<B><FONT face="serif">MANAGEMENT INVESTMENT COMPANY </FONT></B></P>
<P align="left">
<FONT size=2 face="serif">Investment Company Act file number 811-21053 </FONT><BR>
<BR>
<FONT size=2 face="serif">Name of Fund: BlackRock Virginia Municipal Bond Trust (BHV) </FONT><BR>
<BR>
<FONT size=2 face="serif">Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 </FONT></P>
<P align="left" style="MARGIN-LEFT: 24pt; TEXT-INDENT: -24pt;">
<FONT size=2 face="serif">Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Virginia Municipal Bond Trust, 800 Scudders Mill Road, Plainsboro,&nbsp;NJ,&nbsp;08536. Mailing address: P.O. Box 9011, Princeton, NJ,
08543-9011 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Registrant&#146;s telephone number, including area code: (800) 882-0052, Option 4 </FONT><BR>
<BR>
<FONT size=2 face="serif">Date of fiscal year end: 08/31/2008 </FONT><BR>
<BR>
<FONT size=2 face="serif">Date of reporting period: 03/01/2008 &#150; 05/31/2008 </FONT></P>

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



<P STYLE="page-break-before:always"></P><PAGE><br>


<P align="left">
<FONT size=2 face="serif">Item 1 &#150; Schedule of Investments </FONT></P>

<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD colspan="3" align=left>
<B><FONT face="sans-serif">BlackRock Virginia Municipal Bond
    Trust</FONT></B> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="3" align=left style="border-bottom:1px solid #000000;"><B><FONT size=2 face="sans-serif">Schedule of Investments
    May 31, 2008 (Unaudited)</FONT></B> </TD>
    <TD colspan="5" align=right style="border-bottom:1px solid #000000;"><B><FONT size=2 face="sans-serif">(Percentages shown are
    based on Net Assets)</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right>
<B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=3% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Municipal Bonds</FONT></B>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">(000</FONT></B>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">)</FONT></B>  </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
    <font size="2"><B><FONT face="sans-serif">Value</FONT></B> </font></TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left>
<B><FONT size=2 face="sans-serif">Virginia - 132.6%</FONT></B>  </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left>
<FONT size=2 face="sans-serif">Arlington County, Virginia, IDA, Hospital Facilities Revenue Bonds</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left>
<FONT size=2 face="sans-serif">(Virginia Hospital Center - Arlington Health System),</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5.25%, 7/01/11 (a)</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,150</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,329,697</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left>
<FONT size=2 face="sans-serif">Celebrate North Community Development Authority, Virginia, Special</FONT>  </TD>
  <TD width=1% align=left><font size="2">&nbsp;</font></TD>
  <TD width=10% align=left><font size="2">&nbsp;</font></TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Assessment Revenue Bonds, Series B, 6.75%, 3/01/34</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,497,975</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left>
<FONT size=2 face="sans-serif">Charlottesville, Virginia, IDA, Educational Facilities Revenue</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left>
<FONT size=2 face="sans-serif">Refunding Bonds (University of Virginia Foundation), VRDN,</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Series B, 1.50%, 12/01/37 (b)</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">500,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=center><font size="2">&nbsp;</font></TD>
  <TD width=3% align=center><font size="2">&nbsp;</font></TD>
  <TD width=50% align=left><FONT size=2 face="sans-serif">Chesterfield County,
    Virginia, EDA, Solid Waste and Sewer Disposal</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=center><font size="2">&nbsp;</font></TD>
  <TD width=3% align=center><font size="2">&nbsp;</font></TD>
  <TD width=50% align=left><FONT size=2 face="sans-serif">Revenue Bonds (Virginia
    Electric Power Company), AMT, Series A,</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5.60%, 11/01/31</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">472,050</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=center><font size="2">&nbsp;</font></TD>
  <TD width=3% align=center><font size="2">&nbsp;</font></TD>
  <TD width=50% align=left><FONT size=2 face="sans-serif">Danville, Virginia,
    IDA, Hospital Revenue Refunding Bonds (Danville</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Regional Medical Center), 5.25%, 10/01/28 (c)(d)</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,638,540</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=center><font size="2">&nbsp;</font></TD>
  <TD width=3% align=center><font size="2">&nbsp;</font></TD>
  <TD width=50% align=left><FONT size=2 face="sans-serif">Dulles Town Center,
    Virginia, Community Development Authority,</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left>
<FONT size=2 face="sans-serif">Special Assessment Tax (Dulles Town Center Project),</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">6.25%, 3/01/26</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">970</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">971,795</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=center><font size="2">&nbsp;</font></TD>
  <TD width=3% align=center><font size="2">&nbsp;</font></TD>
  <TD width=50% align=left><FONT size=2 face="sans-serif">Fairfax County, Virginia,
    EDA, Residential Care Facilities, Mortgage</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left>
<FONT size=2 face="sans-serif">Revenue Refunding Bonds (Goodwin House, Inc.),</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5.125%, 10/01/37</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">903,990</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=center><font size="2">&nbsp;</font></TD>
  <TD width=3% align=center><font size="2">&nbsp;</font></TD>
  <TD width=50% align=left><FONT size=2 face="sans-serif">Fairfax County, Virginia,
    Water Authority, Water Revenue Refunding</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Bonds, 5%, 4/01/27</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,205</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,228,485</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Hampton, Virginia, Public Improvement, GO, 5%, 4/01/20</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,052,010</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left>
<FONT size=2 face="sans-serif">Henrico County, Virginia, EDA, Revenue Refunding Bonds (Bon</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Secours Health System, Inc.), Series A, 5.60%, 11/15/12 (a)</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">60</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">66,451</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left>
<FONT size=2 face="sans-serif">Henrico County, Virginia, EDA, Revenue Refunding Bonds (Bon</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Secours Health System, Inc.), Series A, 5.60%, 11/15/30</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,440</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,468,814</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left>
<FONT size=2 face="sans-serif">Isle Wight County, Virginia, IDA, Environmental Improvement</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Revenue Bonds, AMT, Series A, 5.70%, 11/01/27</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,300</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,189,591</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD align=left colspan=3>
<FONT size=2 face="sans-serif">Norfolk, Virginia, Airport Authority Revenue Bonds, Series A, 5.125%,</FONT>  </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
    <FONT size=2 face="sans-serif">7/01/31(e)</FONT> </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,489,890</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left>
<FONT size=2 face="sans-serif">Peninsula Ports Authority, Virginia, Residential Care Facilities,</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left>
<FONT size=2 face="sans-serif">Revenue Refunding Bonds (Baptist Homes), Series C,</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5.40%, 12/01/33</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">423,950</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=center><font size="2">&nbsp;</font></TD>
  <TD width=3% align=center><font size="2">&nbsp;</font></TD>
  <TD width=50% align=left><FONT size=2 face="sans-serif">Pocahontas Parkway
    Association, Virginia, Toll Road Revenue Bonds,</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Senior Series B, 6.99%, 8/15/08 (a)(f)(g)</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5,000</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,265,550</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=3%><font size="2">&nbsp;</font> </TD>
  <TD align=left colspan=3>
<FONT size=2 face="sans-serif">Prince William County, Virginia, Lease Participation Certificates, 5%,</FONT>  </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=14% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=3% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=50% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">12/01/21</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,275</FONT>  </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,322,200</FONT>  </TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left nowrap colspan=8 style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Portfolio Abbreviations</FONT></B>				</TD>
  </TR>
<TR valign="bottom">
	<TD align=left colspan=8><FONT size=2 face="sans-serif">To simplify the
	    listings of BlackRock Virginia Municipal Bond Trust's portfolio holdings
	    in the Schedule of Investments, we have abbreviated the names of many of
	    the securities according to the list below.</FONT>
	  </TD>
</TR>
<TR valign="bottom">
  <TD align=left width=4% nowrap>&nbsp;</TD>
	<TD align=left width=4%><B><FONT size=2 face="sans-serif">AMT</FONT></B>	</TD>
	<TD width=1%>&nbsp;	</TD>
	<TD align=left width=36% nowrap>
<FONT size=2 face="sans-serif">Alternative Minimum Tax (subject to)</FONT>	</TD>
	<TD width=1%>&nbsp;	</TD>
	<TD align=left width=4% nowrap><B><FONT size=2 face="sans-serif">HDA</FONT></B></TD>
	<TD width=1%>&nbsp;	</TD>
	<TD align=left width=49% nowrap><FONT size=2 face="sans-serif">Housing Development
    Authority</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left><B><FONT size=2 face="sans-serif">EDA</FONT></B></TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap><FONT size=2 face="sans-serif">Economic Development Authority</FONT> </TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap><B><FONT size=2 face="sans-serif">IDA</FONT></B></TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap><FONT size=2 face="sans-serif">Industrial Development
    Authority</FONT> </TD>
</TR>
<TR valign="bottom">
  <TD align=left width=4% nowrap>&nbsp;</TD>
	<TD align=left width=4%><B><FONT size=2 face="sans-serif">GO</FONT></B>	</TD>
	<TD width=1%>&nbsp;	</TD>
	<TD align=left width=36% nowrap>
<FONT size=2 face="sans-serif">General Obligation Bonds</FONT>	</TD>
	<TD width=1%>&nbsp;	</TD>
	<TD align=left width=4% nowrap>
<B><FONT size=2 face="sans-serif">VRDN</FONT></B>	</TD>
	<TD width=1%>&nbsp;	</TD>
	<TD align=left width=49% nowrap>
<FONT size=2 face="sans-serif">Variable Rate Demand Notes</FONT>	</TD>
</TR>
</TABLE>
<br>
<P align="center">
<FONT size=2 face="sans-serif">1</FONT></P>

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



<p style="page-break-before:always"></p><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD colspan="2" align=left><B><FONT face="sans-serif">BlackRock Virginia Municipal Bond
    Trust</FONT></B> </TD>
    <TD width="1%" align=right>&nbsp;</TD>
    <TD width="7%" align=right>&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="2%" align=right>&nbsp;</TD>
    <TD width="10%" align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="2" align=left style="border-bottom:1px solid #000000;"><B><FONT size=2 face="sans-serif">Schedule of Investments
    May 31, 2008 (Unaudited)</FONT></B> </TD>
    <TD colspan="5" align=right style="border-bottom:1px solid #000000;"><B><FONT size=2 face="sans-serif">(Percentages shown are
    based on <br>
    Net Assets)</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right>
<B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=10%><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Municipal Bonds</FONT></B>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
    <font size="2"><B><FONT face="sans-serif">Value</FONT></B> </font></TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=center><font size="2">&nbsp;</font></TD>
  <TD width=53% align=left><FONT size=2 face="sans-serif">Richmond, Virginia,
    Metropolitan Authority, Expressway Revenue</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=7% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Refunding Bonds, 5.25%, 7/15/22 (e)</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,250</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,367,725</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=center><font size="2">&nbsp;</font></TD>
  <TD width=53% align=left><FONT size=2 face="sans-serif">Richmond, Virginia,
    Public Utilities Revenue Refunding Bonds, 5%,</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=7% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1/15/12 (a)(h) </FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,000</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,215,940</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=center><font size="2">&nbsp;</font></TD>
  <TD width=53% align=left><FONT size=2 face="sans-serif">The Shops at White
    Oak Village Community Development Authority,</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=7% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left>
<FONT size=2 face="sans-serif">Virginia, Special Assessment Revenue Bonds,</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10%><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5.30%, 3/01/17</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">250</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">241,325</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=center><font size="2">&nbsp;</font></TD>
  <TD width=53% align=left><FONT size=2 face="sans-serif">Virginia College
    Building Authority, Educational Facilities Revenue</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=7% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left>
<FONT size=2 face="sans-serif">Bonds (21st Century College and Equipment Programs), VRDN,</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10%><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Series B, 1.45%, 2/01/26 (b)</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">590</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">590,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=center><font size="2">&nbsp;</font></TD>
  <TD width=53% align=left><FONT size=2 face="sans-serif">Virginia College
    Building Authority, Educational Facilities Revenue</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=7% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left>
<FONT size=2 face="sans-serif">Bonds (21st Century College and Equipment Programs), VRDN,</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10%><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Series C, 1.15%, 2/01/26 (b)</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">500,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=center><font size="2">&nbsp;</font></TD>
  <TD width=53% align=left><FONT size=2 face="sans-serif">Virginia College
    Building Authority, Educational Facilities Revenue</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=7% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=center><font size="2">&nbsp;</font></TD>
  <TD width=53% align=left><FONT size=2 face="sans-serif">Refunding Bonds (Washington
    and Lee University Project), 5.25%,</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=7% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
    <FONT size=2 face="sans-serif">1/01/26 (i)</FONT> </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">551,640</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=center><font size="2">&nbsp;</font></TD>
  <TD width=53% align=left><FONT size=2 face="sans-serif">Virginia College
    Building Authority, Educational Facilities Revenue</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=7% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=center><font size="2">&nbsp;</font></TD>
  <TD width=53% align=left><FONT size=2 face="sans-serif">Refunding Bonds (Washington
    and Lee University Project), 5.25%,</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=7% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1/01/31 (i) </FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,071,920</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=center><font size="2">&nbsp;</font></TD>
  <TD width=53% align=left><FONT size=2 face="sans-serif">Virginia Port Authority,
    Port Facilities Revenue Bonds, AMT, 4.75%,</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=7% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">7/01/31 (e) </FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">457,380</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left>
<FONT size=2 face="sans-serif">Virginia Small Business Financing Authority, Revenue Refunding</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10%><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=center><font size="2">&nbsp;</font></TD>
  <TD width=53% align=left><FONT size=2 face="sans-serif">Bonds (Children's
    Hospital of the King's Daughters Project), VRDN,</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=7% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1.58%, 1/01/36 (b)</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">100</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">100,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left>
<FONT size=2 face="sans-serif">Virginia State, HDA, Commonwealth Mortgage Revenue Bonds,</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10%><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Series H, Sub-Series H-1, 5.375%, 7/01/36 (i)</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,000</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,015,060</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=center><font size="2">&nbsp;</font></TD>
  <TD width=53% align=left><FONT size=2 face="sans-serif">Virginia State Resources
    Authority, Infrastructure Revenue Bonds</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=7% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">(Pooled Loan Program), Series A, 5.125%, 5/01/27</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">635</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">650,742</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left>
<FONT size=2 face="sans-serif">Virginia State Resources Authority, Water and Sewer System Revenue</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10%><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left>
    <FONT size=2 face="sans-serif"> Bonds (Frederick County Sanitation Authority
    Project), 5.20%,</FONT> </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10%><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">10/01/10 (a) </FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,064,380</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">31,647,100</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left>
<B><FONT size=2 face="sans-serif">District of Columbia - 7.2%</FONT></B>  </TD>
  <TD width=53% align=left>
<FONT size=2 face="sans-serif">Metropolitan Washington Airports Authority, D.C., Airport System</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10%><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Revenue Bonds, AMT, Series A, 5.25%, 10/01/32 (e)</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,481,610</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=center><font size="2">&nbsp;</font></TD>
  <TD width=53% align=left><FONT size=2 face="sans-serif">Metropolitan Washington
    Airports Authority, D.C., Airport System</FONT> </TD>
  <TD width=1% align=center><font size="2">&nbsp;</font></TD>
  <TD width=7% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
  <TD width=2% align=center><font size="2">&nbsp;</font></TD>
  <TD width=10% align=center><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Revenue Bonds, AMT, Series B, 5%, 10/01/34 (h)</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">250</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">238,820</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,720,430</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left>
<B><FONT size=2 face="sans-serif">Puerto Rico - 5.2%</FONT></B>  </TD>
  <TD width=53% align=left>
<FONT size=2 face="sans-serif">Children's Trust Fund Project of Puerto Rico, Tobacco Settlement</FONT>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10%><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Revenue Refunding Bonds, 5.375%, 5/15/33</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,295</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,229,382</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left>
<B><FONT size=2 face="sans-serif">Total Municipal Bonds</FONT></B>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10%><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">(Cost - &#36;33,293,561) - 145.0%</FONT></B>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">34,596,912</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="7" align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
  <TD width=17% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Corporate Bonds</FONT></B>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Multi-State - 7.0%</FONT></B>  </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Charter Mac Equity Issuer Trust, 7.20%, 10/31/52 (j)</FONT>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,683,480</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left>
<B><FONT size=2 face="sans-serif">Total Corporate Bonds</FONT></B>  </TD>
  <TD width=1% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left><font size="2">&nbsp;</font> </TD>
  <TD width=10%><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=left><font size="2">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD width=17% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=53% align=left style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">(Cost - &#36;1,500,000) - 7.0%</FONT></B>  </TD>
  <TD width=1% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=7% align=left style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=2% align=right style="border-bottom:1px solid #000000;"><font size="2">&nbsp;</font> </TD>
  <TD width=10% align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,683,480</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">2</FONT></P>

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



<P style="PAGE-BREAK-BEFORE: always"></P>
<PAGE>

<TABLE width="100%" border=0 cellPadding=0 cellSpacing=0>
  <TR vAlign=bottom>
    <TD colspan="2" align=left><B><FONT face=sans-serif>BlackRock Virginia Municipal Bond
    Trust</FONT></B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%" align=right>&nbsp;</TD>
    <TD width="12%" align=left>&nbsp;</TD>
    <TD width="2%" align=left>&nbsp;</TD>
    <TD width="12%" align=left>&nbsp;</TD>
    <TD width="1%" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=bottom>
    <TD colspan="2" align=left style="BORDER-BOTTOM: #000000 1px solid"><B><FONT face=sans-serif size=2>Schedule of Investments May
    31, 2008 (Unaudited)</FONT></B><font size="2">&nbsp;</font></TD>
    <TD colspan="5" align="right" style="BORDER-BOTTOM: #000000 1px solid"><B><FONT face=sans-serif size=2>(Percentages
          shown are based on Net Assets)</font></B></TD>
    <TD width="1%" align=left><font size="2">&nbsp;</font></TD>
  </TR>
  <TR vAlign=bottom>
     <TD width="17%" align=left><font size="2">&nbsp;</font> </TD>
     <TD align=left><B><FONT face=sans-serif size=2>Municipal Bonds Transferred to Tender Option Bond</FONT></B> </TD>
     <TD width="1%"><font size="2">&nbsp;</font> </TD>
     <TD width="7%" align=right><font size="2">&nbsp;</font> <B><FONT face=sans-serif size=2>Par</FONT></B></TD>
     <TD width="10%" align=left>&nbsp;</TD>
     <TD width="2%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="1%" align=left><font size="2">&nbsp;</font> </TD></TR>
<TR vAlign=bottom>
     <TD width="17%" align=left style="BORDER-BOTTOM: #000000 1px solid"><font size="2">&nbsp;</font> </TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT face=sans-serif size=2>Trusts (k)</FONT></B> </TD>
     <TD width="1%" style="BORDER-BOTTOM: #000000 1px solid"><font size="2">&nbsp;</font> </TD>
     <TD width="7%" align=right style="BORDER-BOTTOM: #000000 1px solid"><font size="2">&nbsp;</font> <B><FONT face=sans-serif size=2>(000)</FONT></B></TD>
     <TD width="10%" align=left style="BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
     <TD width="2%" align=left style="BORDER-BOTTOM: #000000 1px solid"><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=right style="BORDER-BOTTOM: #000000 1px solid"><font size="2"><B><FONT face=sans-serif>Value</FONT></B> </font></TD>
     <TD width="1%" align=left style="BORDER-BOTTOM: #000000 1px solid"><font size="2">&nbsp;</font> </TD></TR>
<TR vAlign=bottom>
     <TD width="17%" align=left style="BORDER-BOTTOM: #000000 1px solid"><B><FONT face=sans-serif size=2>Virginia - 8.7%</FONT></B> </TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=sans-serif size=2>University of Virginia, Revenue Bonds, 5%, 6/01/40</FONT> </TD>
     <TD width="1%" style="BORDER-BOTTOM: #000000 1px solid"><font size="2">&nbsp;</font> <FONT face=sans-serif size=2>$</FONT></TD>
     <TD width="7%" align=right style="BORDER-BOTTOM: #000000 1px solid"><FONT face=sans-serif size=2>2,000</FONT> </TD>
     <TD width="10%" align=left style="BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
     <TD width="2%" align=left style="BORDER-BOTTOM: #000000 1px solid"><FONT face=sans-serif size=2>$</FONT></TD>
     <TD width="10%" align=right style="BORDER-BOTTOM: #000000 1px solid"><FONT face=sans-serif size=2>2,083,667</FONT> </TD>
     <TD width="1%" align=left style="BORDER-BOTTOM: #000000 1px solid"><font size="2">&nbsp;</font> </TD></TR>
<TR vAlign=bottom>
     <TD width="17%" align=left><font size="2">&nbsp;</font> </TD>
     <TD align=left><B><FONT face=sans-serif size=2>Municipal Bonds Transferred to Tender Option Bond Trusts (Cost -</FONT></B> </TD>
     <TD width="1%"><font size="2">&nbsp;</font> </TD>
     <TD width="7%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=left>&nbsp;</TD>
     <TD width="2%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="1%" align=left><font size="2">&nbsp;</font> </TD></TR>
<TR vAlign=bottom>
     <TD width="17%" align=left style="BORDER-BOTTOM: #000000 1px solid"><font size="2">&nbsp;</font> </TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT face=sans-serif size=2>$2,071,025) - 8.7%</FONT></B> </TD>
     <TD width="1%" style="BORDER-BOTTOM: #000000 1px solid"><font size="2">&nbsp;</font> </TD>
     <TD width="7%" align=left style="BORDER-BOTTOM: #000000 1px solid"><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=left style="BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
     <TD width="2%" align=left style="BORDER-BOTTOM: #000000 1px solid"><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=right style="BORDER-BOTTOM: #000000 1px solid"><FONT face=sans-serif size=2>2,083,667</FONT> </TD>
     <TD width="1%" align=left style="BORDER-BOTTOM: #000000 1px solid"><font size="2">&nbsp;</font> </TD></TR>
<TR vAlign=bottom>
     <TD width="17%" align=left><font size="2">&nbsp;</font> </TD>
     <TD align=left><B><FONT face=sans-serif size=2>Total Investments (Cost - $36,864,586*) - 160.7%</FONT></B> </TD>
     <TD width="1%"><font size="2">&nbsp;</font> </TD>
     <TD width="7%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=left>&nbsp;</TD>
     <TD width="2%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=right><FONT face=sans-serif size=2>38,364,059</FONT> </TD>
     <TD width="1%" align=left><font size="2">&nbsp;</font> </TD></TR>
<TR vAlign=bottom>
     <TD width="17%" align=left><font size="2">&nbsp;</font> </TD>
     <TD align=left><B><FONT face=sans-serif size=2>Other Assets Less Liabilities - 1.6%</FONT></B> </TD>
     <TD width="1%"><font size="2">&nbsp;</font> </TD>
     <TD width="7%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=left>&nbsp;</TD>
     <TD width="2%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=right><FONT face=sans-serif size=2>375,480</FONT> </TD>
     <TD width="1%" align=left><font size="2">&nbsp;</font> </TD></TR>
<TR vAlign=bottom>
     <TD width="17%" align=left><font size="2">&nbsp;</font> </TD>
     <TD align=left><B><FONT face=sans-serif size=2>Liability for Trust Certificates, Including Interest Expenses and Fees</FONT></B> </TD>
     <TD width="1%"><font size="2">&nbsp;</font> </TD>
     <TD width="7%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=left>&nbsp;</TD>
     <TD width="2%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="1%" align=left><font size="2">&nbsp;</font> </TD></TR>
<TR vAlign=bottom>
     <TD width="17%" align=left><font size="2">&nbsp;</font> </TD>
     <TD align=left><B><FONT face=sans-serif size=2>Payable - (5.6%)</FONT></B> </TD>
     <TD width="1%"><font size="2">&nbsp;</font> </TD>
     <TD width="7%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=left>&nbsp;</TD>
     <TD width="2%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=right><FONT face=sans-serif size=2>(1,340,673</FONT> </TD>
     <TD width="1%" align=left><FONT face=sans-serif size=2>)</FONT> </TD></TR>
<TR vAlign=bottom>
     <TD width="17%" align=left><font size="2">&nbsp;</font> </TD>
     <TD align=left><B><FONT face=sans-serif size=2>Preferred Shares, at Redemption Value - (56.7%)</FONT></B> </TD>
     <TD width="1%"><font size="2">&nbsp;</font> </TD>
     <TD width="7%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=left style="BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
     <TD width="2%" align=left style="BORDER-BOTTOM: #000000 1px solid"><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=right style="BORDER-BOTTOM: #000000 1px solid"><FONT face=sans-serif size=2>(13,534,476</FONT> </TD>
     <TD width="1%" align=left style="BORDER-BOTTOM: #000000 1px solid"><FONT face=sans-serif size=2>)</FONT> </TD></TR>
<TR vAlign=bottom>
     <TD width="17%" align=left><font size="2">&nbsp;</font> </TD>
     <TD align=left><B><FONT face=sans-serif size=2>Net Assets Applicable to Common Shares - 100.0%</FONT></B> </TD>
     <TD width="1%"><font size="2">&nbsp;</font> </TD>
     <TD width="7%" align=left><font size="2">&nbsp;</font> </TD>
     <TD width="10%" align=left style="BORDER-BOTTOM: #000000 3px double">&nbsp;</TD>
     <TD width="2%" align=left style="BORDER-BOTTOM: #000000 3px double"><FONT face=sans-serif size=2>$</FONT></TD>
     <TD width="10%" align=right style="BORDER-BOTTOM: #000000 3px double"><FONT face=sans-serif size=2>23,864,390</FONT> </TD>
     <TD width="1%" align=left style="BORDER-BOTTOM: #000000 3px double"><font size="2">&nbsp;</font> </TD></TR></TABLE>
<BR>

<P align="left">
<FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*The cost and unrealized appreciation (depreciation) of investments as of May 31, 2008, as computed for federal income tax purposes, were as follows:</FONT></P>
<TABLE width="50%" border=0 cellPadding=0 cellSpacing=0>
<TR>
     <TD width="2%"><font size="2">&nbsp;</font></TD>
     <TD>
<P align=left><FONT face=sans-serif size=2>Aggregate cost</FONT></P></TD>
     <TD width="6%">&nbsp;</TD>
     <TD width="2%" style="BORDER-BOTTOM: #000000 3px double"><FONT face=sans-serif size=2>$</FONT></TD>
     <TD width="11%" align="right" style="BORDER-BOTTOM: #000000 3px double"><FONT face=sans-serif size=2> 35,533,02</FONT></TD>
     <TD width="2%">&nbsp;</TD>
  </TR>
<TR>
  <TD width="2%">&nbsp;</TD>
  <TD><FONT face=sans-serif size=2>Gross unrealized
    appreciation</FONT></TD>
  <TD width="6%">&nbsp;</TD>
  <TD width="2%"><FONT face=sans-serif size=2>$</FONT></TD>
  <TD width="11%" align="right"><FONT face=sans-serif size=2> 1,884,586</FONT></TD>
  <TD width="2%">&nbsp;</TD>
  </TR>
<TR>
  <TD width="2%">&nbsp;</TD>
  <TD><FONT face=sans-serif size=2>Gross unrealized depreciation</FONT></TD>
  <TD width="6%">&nbsp;</TD>
  <TD width="2%" style="BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
  <TD width="11%" align="right" style="BORDER-BOTTOM: #000000 1px solid"><FONT face=sans-serif size=2>(393,548</FONT></TD>
  <TD width="2%"><FONT face=sans-serif size=2>)</FONT></TD>
  </TR>
<TR>
  <TD width="2%">&nbsp;</TD>
  <TD><FONT face=sans-serif size=2>Net unrealized
    appreciation</FONT></TD>
  <TD width="6%">&nbsp;</TD>
  <TD width="2%" style="BORDER-BOTTOM: #000000 3px double"><FONT face=sans-serif size=2>$ </FONT></TD>
  <TD width="11%" align="right" style="BORDER-BOTTOM: #000000 3px double"><FONT face=sans-serif size=2>1,491,038</FONT></TD>
  <TD width="2%">&nbsp;</TD>
</TR></TABLE>

<BR>
<TABLE width="100%" border=0 cellPadding=0 cellSpacing=0>
<TR>
     <TD vAlign=top noWrap><FONT face=sans-serif size=2>(a)</FONT><font size="2">&nbsp; &nbsp; &nbsp; </font></TD>
     <TD>
<P align=left><FONT face=sans-serif size=2>U.S. government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.</FONT></P></TD>
  </TR>
<TR>
     <TD><font size="2">&nbsp;</font></TD>
     <TD>&nbsp;</TD>
  </TR>
<TR>
     <TD vAlign=top noWrap><FONT face=sans-serif size=2>(b)</FONT><font size="2">&nbsp; &nbsp; &nbsp; </font></TD>
     <TD>
<P align=left><FONT face=sans-serif size=2>Variable rate security. Rate shown is as of report date. Maturity shown is the final maturity date.</FONT></P></TD>
  </TR>
<TR>
     <TD><font size="2">&nbsp;</font></TD>
     <TD>&nbsp;</TD>
  </TR>
<TR>
     <TD vAlign=top noWrap><FONT face=sans-serif size=2>(c)</FONT><font size="2">&nbsp; &nbsp; &nbsp; </font></TD>
     <TD>
<P align=left><FONT face=sans-serif size=2>AMBAC Insured.</FONT></P></TD>
  </TR>
<TR>
     <TD><font size="2">&nbsp;</font></TD>
     <TD>&nbsp;</TD>
  </TR>
<TR>
     <TD vAlign=top noWrap><FONT face=sans-serif size=2>(d)</FONT><font size="2">&nbsp; &nbsp; &nbsp; </font></TD>
     <TD>
<P align=left><FONT face=sans-serif size=2>Security is collateralized by Municipal or U.S. Treasury Obligations.</FONT></P></TD>
  </TR>
<TR>
     <TD><font size="2">&nbsp;</font></TD>
     <TD>&nbsp;</TD>
  </TR>
<TR>
     <TD vAlign=top noWrap><FONT face=sans-serif size=2>(e)</FONT><font size="2">&nbsp; &nbsp; &nbsp; </font></TD>
     <TD>
<P align=left><FONT face=sans-serif size=2>FGIC Insured.</FONT></P></TD>
  </TR>
<TR>
     <TD><font size="2">&nbsp;</font></TD>
     <TD>&nbsp;</TD>
  </TR>
<TR>
     <TD vAlign=top noWrap><FONT face=sans-serif size=2>(f)</FONT><font size="2">&nbsp; &nbsp; &nbsp; </font></TD>
     <TD>
<P align=left><FONT face=sans-serif size=2>ACA Insured.</FONT></P></TD>
  </TR>
<TR>
     <TD><font size="2">&nbsp;</font></TD>
     <TD>&nbsp;</TD>
  </TR>
<TR>
     <TD vAlign=top noWrap><FONT face=sans-serif size=2>(g)</FONT><font size="2">&nbsp; &nbsp; &nbsp; </font></TD>
     <TD>
<P align=left><FONT face=sans-serif size=2>Represents a zero coupon bond; the interest rate shown reflects the effective yield at the time of purchase.</FONT></P></TD>
  </TR>
<TR>
     <TD><font size="2">&nbsp;</font></TD>
     <TD>&nbsp;</TD>
  </TR>
<TR>
     <TD vAlign=top noWrap><FONT face=sans-serif size=2>(h)</FONT><font size="2">&nbsp; &nbsp; &nbsp; </font></TD>
     <TD>
<P align=left><FONT face=sans-serif size=2>FSA Insured.</FONT></P></TD>
  </TR>
<TR>
     <TD><font size="2">&nbsp;</font></TD>
     <TD>&nbsp;</TD>
  </TR>
<TR>
     <TD vAlign=top noWrap><FONT face=sans-serif size=2>(i)</FONT><font size="2">&nbsp; &nbsp; &nbsp; </font></TD>
     <TD>
<P align=left><FONT face=sans-serif size=2>MBIA Insured.</FONT></P></TD>
  </TR>
<TR>
     <TD><font size="2">&nbsp;</font></TD>
     <TD>&nbsp;</TD>
  </TR>
<TR>
     <TD vAlign=top noWrap><FONT face=sans-serif size=2>(j)</FONT><font size="2">&nbsp; &nbsp; &nbsp; </font></TD>
     <TD>
<P align=left><FONT face=sans-serif size=2>Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors. Unless otherwise indicated, these securities are not considered illiquid.</FONT></P></TD>
  </TR>
<TR>
     <TD><font size="2">&nbsp;</font></TD>
     <TD>&nbsp;</TD>
  </TR>
<TR>
     <TD vAlign=top noWrap><FONT face=sans-serif size=2>(k)</FONT><font size="2">&nbsp; &nbsp; &nbsp; </font></TD>
     <TD>
<P align=left><FONT face=sans-serif size=2>Securities represent bonds transferred to a tender option bond trust in exchange for which the Trust acquired residual interest certificates. These securities serve as a collateral in a financing transaction.</FONT></P></TD>
  </TR>
<TR>
     <TD><font size="2">&nbsp;</font></TD>
     <TD>&nbsp;</TD>
</TR></TABLE>

<BR>
<P align="center">
<FONT size=2 face="sans-serif">3</FONT></P>


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



<P STYLE="page-break-before:always"></P><PAGE><br>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>

<TR valign="bottom">
  <TD width="4%" align=left nowrap><FONT size=2 face="serif">Item 2 &#150;</FONT></TD>
  <TD width="1%">&nbsp;</TD>
  <TD colspan="2" align=left><FONT size=2 face="serif">Controls and Procedures</FONT></TD>
  </TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD width="3%" align=left>&nbsp;</TD>
  <TD width="92%" align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left valign="top" nowrap>
<FONT size=2 face="serif">2(a) &#150;</FONT>	</TD>
	<TD valign="top">&nbsp;	</TD>
	<TD colspan="2" align=left valign="top"><FONT size=2 face="serif">The registrant&#146;s principal executive and principal
financial officers or persons performing similar functions have concluded that the registrant&#146;s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.</FONT>	</TD>
  </TR>

<TR>
	<TD colspan=4 valign="top">&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left valign="top" nowrap>
<FONT size=2 face="serif">2(b) &#150;</FONT>	</TD>
	<TD valign="top">&nbsp;	</TD>
	<TD colspan="2" align=left valign="top"><FONT size=2 face="serif">There were no changes in the registrant&#146;s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant&#146;s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting.</FONT>	</TD>
  </TR>

<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap><FONT size=2 face="serif">Item 3 &#150;</FONT></TD>
  <TD>&nbsp;</TD>
  <TD colspan="2" align=left><FONT size=2 face="serif">Exhibits</FONT></TD>
  </TR>

<TR>
	<TD colspan=4>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD colspan="2" align=left>
      <FONT size=2 face="serif">Certifications &#150; Attached hereto</FONT>	</TD>
  </TR>
<TR>
	<TD colspan=4>&nbsp;	</TD>
</TR>

<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
    <TD colspan="2" align=left>
      <FONT size=2 face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company</FONT>
      <FONT size=2 face="serif">Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned,</FONT>
      <FONT size=2 face="serif">thereunto duly authorized.</FONT>	</TD>
  </TR>
<TR>
	<TD colspan=4>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD colspan="2" align=left><FONT size=2 face="serif">BlackRock Virginia Municipal Bond Trust</FONT>	</TD>
  </TR>
<TR>
	<TD colspan=4>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap><FONT size=2 face="serif">By:&nbsp;&nbsp;</FONT></TD>
	<TD align=left nowrap><div style="border-bottom:1px solid #000000;width:200px"><font size=2 face="serif">/s/
            Donald C. Burke</font></div></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><FONT size=2 face="serif">Donald C. Burke</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><FONT size=2 face="serif">Chief Executive Officer of</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><FONT size=2 face="serif">BlackRock Virginia Municipal Bond Trust</FONT>	</TD>
</TR>
<TR>
	<TD colspan=4>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD colspan="2" align=left><FONT size=2 face="serif">Date: July 18, 2008</FONT>	</TD>
  </TR>
<TR>
	<TD colspan=4>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD colspan="2" align=left><FONT size=2 face="serif">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>	</TD>
  </TR>

<TR>
	<TD colspan=4>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap><FONT size=2 face="serif">By:&nbsp;&nbsp;</FONT></TD>
	<TD align=left nowrap><div style="border-bottom:1px solid #000000;width:200px"><font size=2 face="serif">/s/
            Donald C. Burke</font></div></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap><FONT size=2 face="serif">Donald C. Burke</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap><FONT size=2 face="serif">Chief Executive Officer (principal executive officer) of</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap><FONT size=2 face="serif">BlackRock Virginia Municipal
	    Bond Trust</FONT>	</TD>
</TR>
<TR>
	<TD colspan=4>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD colspan="2" align=left nowrap><FONT size=2 face="serif">Date: July 18, 2008</FONT>	</TD>
  </TR>
<TR>
	<TD colspan=4>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap><FONT size=2 face="serif">By:&nbsp;&nbsp;</FONT></TD>
	<TD align=left nowrap><div style="border-bottom:1px solid #000000;width:200px"><font size=2 face="serif">/s/
            Neal J. Andrews</font></div></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap><FONT size=2 face="serif">Neal J. Andrews</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap><FONT size=2 face="serif">Chief Financial Officer (principal financial officer) of</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap><FONT size=2 face="serif">BlackRock Virginia Municipal Bond Trust</FONT>	</TD>
</TR>
<TR>
	<TD colspan=4>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD colspan="2" align=left nowrap><FONT size=2 face="serif">Date: July 18, 2008</FONT>	</TD>
  </TR>
</TABLE>
<BR>

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


</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>c54112_ex99-cert.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE>c54112_ex99-cert.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">





<div><b><font size=2 face="serif">EX-99.CERT </font></b><br>
    <b><font size=2 face="serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER
    THE 1940 ACT AND SECTION 302 OF <br>
THE SARBANES-OXLEY ACT OF 2002 </font></b> </div><br>

<div style="border-bottom:1px solid #000000"></div>
<P align="left"><FONT size=2 face="serif">I, Donald C. Burke, Chief Executive Officer (principal executive officer) of BlackRock Virginia Municipal Bond Trust, certify that: </FONT></P>
<P align="left">
<FONT size=2 face="serif">1.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">I have reviewed this report on Form N-Q of BlackRock Virginia Municipal Bond Trust; </FONT></P>
<P align="left">
<FONT size=2 face="serif">2.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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 size=2 face="serif">3.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Based on my knowledge, the schedules 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 size=2 face="serif">4.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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>
<div style="margin-left:30px">
  <P align="left">
<FONT size=2 face="serif">a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 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 size=2 face="serif">b)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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 size=2 face="serif">c)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 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></P>
<P align="left">
<FONT size=2 face="serif">d)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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>
</div><P align="left">
<FONT size=2 face="serif">5.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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>
<div style="margin-left:30px"><P align="left">
<FONT size=2 face="serif">a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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 size=2 face="serif">b)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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></div>
<P align="left">
<FONT size=2 face="serif">Date: July 18, 2008</FONT><BR>
</P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD align=left nowrap><div style="border-bottom:1px solid #000000;width:150px"><FONT size=2 face="serif">/s/ Donald C. Burke</FONT></div> </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">Donald C. Burke</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">Chief Executive Officer (principal executive officer) of</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap><FONT size=2 face="serif">BlackRock Virginia Municipal
    Bond Trust</FONT></TD>
</TR>
</TABLE><br>
<HR noshade width="100%" size=4>



<P STYLE="page-break-before:always"></P><PAGE><br>



<div><b><font size=2 face="serif">EX-99.CERT </font></b><br>
    <b><font size=2 face="serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER
    THE 1940 ACT AND SECTION 302 OF <br>
THE SARBANES-OXLEY ACT OF 2002 </font></b></div><br>
<div style="border-bottom:1px solid #000000"></div>
<P align="left"><FONT size=2 face="serif">I, Neal J. Andrews, Chief Financial Officer (principal financial officer) of BlackRock Virginia Municipal Bond Trust, certify that: </FONT></P>
<P align="left">
<FONT size=2 face="serif">1.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">I have reviewed this report on Form N-Q of BlackRock Virginia Municipal Bond Trust; </FONT></P>
<P align="left">
<FONT size=2 face="serif">2.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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 size=2 face="serif">3.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Based on my knowledge, the schedules 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 size=2 face="serif">4.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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>
<div style="margin-left:30px"><P align="left">
<FONT size=2 face="serif">a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 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 size=2 face="serif">b)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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 size=2 face="serif">c)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 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></P>
<P align="left">
<FONT size=2 face="serif">d)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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>
</div><P align="left">
<FONT size=2 face="serif">5.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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>
<div style="margin-left:30px"><P align="left">
<FONT size=2 face="serif">a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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 size=2 face="serif">b)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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></div>
<P align="left">
<FONT size=2 face="serif">Date: July 18, 2008</FONT><BR>
</P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD align=left nowrap><div style="border-bottom:1px solid #000000;width:150px"><FONT size=2 face="serif">/s/
        Neal J. Andrews</FONT></div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">Neal J. Andrews</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">Chief Financial Officer (principal financial officer) of</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap><FONT size=2 face="serif">BlackRock Virginia Municipal
    Bond Trust</FONT></TD>
</TR>
</TABLE><br>
<HR noshade width="100%" size=4>


</BODY>

</HTML>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
