Form N-CEN - Annual Report for Registered Investment Companies
13 Octobre 2023 - 7:13PM
Edgar (US Regulatory)
REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Shareholders and the Board
of Trustees/Directors of BlackRock Long-Term Municipal Advantage Trust,
BlackRock MuniAssets Fund, Inc., BlackRock Municipal Income Fund, Inc.,
BlackRock MuniYield Fund, Inc., and BlackRock MuniYield Quality Fund, Inc.:
In
planning and performing our audits of the financial statements of BlackRock
Long-Term Municipal Advantage Trust, BlackRock MuniAssets Fund, Inc., BlackRock
Municipal Income Fund, Inc., BlackRock MuniYield Fund, Inc., and BlackRock
MuniYield Quality Fund, Inc. (the “Funds”) as of and for the year ended July 31, 2023,
in accordance with the standards of the Public Company Accounting Oversight
Board (United States) (PCAOB), we considered the Funds’ internal control over
financial reporting, including controls over safeguarding securities, as a
basis for designing our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of Form
N-CEN, but not for the purpose of expressing an opinion on the effectiveness of
the Funds’ internal control over financial reporting. Accordingly, we express
no such opinion.
The management of the Funds is responsible for
establishing and maintaining effective internal control over financial
reporting. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. A company's internal control over financial reporting is a process
designed 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. A company's internal
control over financial reporting includes those policies and procedures that
(1) pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and dispositions of the assets
of the company; (2) provide reasonable assurance that transactions are recorded
as necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and expenditures of
the company are being made only in accordance with authorizations of management
and directors of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use, or disposition
of a company's assets that could have a material effect on the financial
statements.
Because of its inherent limitations, internal control
over financial reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods are subject to
the risk that controls may become inadequate because of changes in conditions
or that the degree of compliance with the policies or procedures may
deteriorate.
A deficiency in internal control over financial
reporting exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned
functions, to prevent or detect misstatements on a timely basis. A material
weakness is a deficiency, or a combination of deficiencies, in internal control
over financial reporting, such that there is a reasonable possibility that a
material misstatement of the company’s annual or interim financial statements
will not be prevented or detected on a timely basis.
Our consideration of the Funds’ internal control over
financial reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies in internal
control that might be material weaknesses under standards established by the
PCAOB. However, we noted no deficiencies in the Funds’ internal control over
financial reporting and its operation, including controls over safeguarding
securities, that we consider to be a material weakness, as defined above, as of
July 31, 2023.
This report is intended solely for the information and
use of management and the Board of Trustees/Directors of the Funds and the
Securities and Exchange Commission and is not intended to be and should not be
used by anyone other than these specified parties.
/s/Deloitte & Touche
LLP
Boston, Massachusetts
September 22, 2023
BLACKROCK LONG-TERM MUNICIPAL ADVANTAGE
TRUST
(THE “TRUST”)
SERIES W-7
VARIABLE
RATE DEMAND PREFERRED SHARES (“VRDP SHARES”)
CUSIP
No. 09250B202*
Amendment
to Notice of Special Rate Period
November 15, 2022
BlackRock Long-Term Municipal Advantage Trust
100 Bellevue Parkway
Wilmington, Delaware 19809
To: Addressees
listed on Schedule 1 hereto
In
accordance with the Trust’s Statement of Preferences of Variable Rate Demand
Preferred Shares, dated October 28, 2015 (as
amended to date, the “Statement of Preferences”), pursuant to the prior
written consent of the Liquidity Provider and the Remarketing Agent and the affirmative
vote or consent of the Holders of a majority of the VRDP Shares Outstanding, the
Notice of Special Rate Period, dated as of October 29, 2015 (as amended to
date, the “Notice of Special Rate Period”), has been amended by this
Amendment to Notice of Special Rate Period as of the date hereof.
The
last day of the Special Rate Period shall be November 15, 2024 or such later
date to which it may be extended in accordance with the terms of the Notice of Special
Rate Period.
Capitalized
terms used but not defined in this Amendment to Notice of Special Rate Period
shall have the meanings given to such terms in the Statement of Preferences and
the Notice of Special Rate Period.
[Signature
Page Follows]
*
NOTE: Neither the Trust nor the Tender and Paying Agent shall be responsible
for the selection or use of the CUSIP Numbers selected, nor is any
representation made as to its correctness indicated in any notice or as printed
on any VRDP Share certificate. It is included solely as a convenience to
Holders of VRDP Shares.
IN
WITNESS WHEREOF, I have signed this Amendment to the Notice of Special Rate
Period as of the date first written above.
BLACKROCK LONG-TERM MUNICIPAL ADVANTAGE
TRUST
By: /s/ Jonathan Diorio__________________
Name: Jonathan Diorio
Title: Vice President
[Signature Page – BTA Amendment to
Notice of Special Rate Period]
Schedule
1
Recipients
of this Amendment to Notice of Special Rate Period
Bank
of America, N.A.
One Bryant Park
1111 Avenue of the Americas, 3rd
Floor
New
York, New York 10036
Attention:
Thomas Visone
Mary
Ann Olson
Todd
Blasiak
Lisa
Irizarry
Michael
Jentis
Carl
Daniels
Telephone: (212) 449-7358
Email:
thomas.visone@bofa.com
mary.ann.olson@bofa.com
todd.blasiak@bofa.com
lisa.m.irizarry@bofa.com
michael.jentis@bofa.com
DG.pfloats@bofa.com
carl.daniels@bofa.com
BofA
Securities, Inc.
One Bryant Park
1111 Avenue of the Americas
3rd Floor
New
York, NY 10036
Attention:
Thomas Visone
Mary
Ann Olson
Todd
Blasiak
Lisa
Irizarry
Michael
Jentis
Carl
Daniels
Telephone: (212) 449-7358
Email:
thomas.visone@bofa.com
mary.ann.olson@bofa.com
todd.blasiak@bofa.com
lisa.m.irizarry@bofa.com
michael.jentis@bofa.com
dg.temm@bofa.com
DG.pfloats@bofa.com
carl.daniels@bofa.com
Banc of America Preferred Fund Corporation
One Bryant Park
1111 Avenue of the Americas, 3rd
Floor
New
York, New York 10036
Attention:
Thomas Visone
Mary
Ann Olson
Todd
Blasiak
Lisa
Irizarry
Michael
Jentis
Carl
Daniels
Telephone: (212) 449-7358
Email:
thomas.visone@bofa.com
mary.ann.olson@bofa.com
todd.blasiak@bofa.com
lisa.m.irizarry@bofa.com
michael.jentis@bofa.com
DG.pfloats@bofa.com
carl.daniels@bofa.com
The
Depository Trust Company
LensNotice@dtcc.com
BLACKROCK
LONG-TERM MUNICIPAL ADVANTAGE TRUST
AMENDMENT TO THE
STATEMENT
OF PREFERENCES OF
VARIABLE RATE
DEMAND PREFERRED SHARES (“VRDP SHARES”)
DATED OCTOBER 28,
2015
(THE “STATEMENT OF
PREFERENCES”)
The
undersigned officers of BlackRock Long-Term Municipal Advantage Trust (the “Trust”),
a Delaware statutory trust, hereby certifies as follows:
1.
The Board of Trustees of the Trust has adopted resolutions to amend the
Statement of Preferences as follows:
The Statement of
Preferences is hereby amended by inserting the following as Section 5(j) of
Part I of the Statement of Preferences:
“(j) Exemption from
Delaware Control Beneficial Interest Acquisition Provisions. All VRDP
Shares Outstanding as of November 15, 2022 and the acquisition thereof by the Holder(s)
or Beneficial Owner(s) thereof or any other Person(s), including any transfer
and acquisition after November 15, 2022, will be exempt from Subchapter III of
the Delaware Statutory Trust Act.”
2.
Except as amended hereby, the Statement of Preferences remains in full
force and effect.
3.
An original copy of this amendment shall be lodged with the records of
the Trust and filed in such places as the Trustees deem appropriate.
[Signature Page
Follows]
IN
WITNESS WHEREOF, BlackRock Long-Term Municipal Advantage Trust has caused these
presents to be signed as of November 15, 2022 in its name and on behalf of its
Vice President and attested by its Secretary. Said officers of the Trust have
executed this amendment as officers and not individually, and the obligations
and rights set forth in this amendment are not binding upon any such officers,
or the trustees or shareholders of the Trust, individually, but are binding
only upon the assets and property of the Trust.
BLACKROCK LONG-TERM MUNICIPAL
ADVANTAGE TRUST
By: /s/
Jonathan Diorio__________
Name: Jonathan
Diorio
Title: Vice
President
ATTEST:
/s/ Janey Ahn________________________
Name: Janey Ahn
Title: Secretary
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