Company: BLE
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198164
Chunk: 263

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 263
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 BFK, which may be changed by the Board without shareholder approval, provide that BFK may not:

| A. | Make any short sale of securities except in conformity with applicable laws, rules and regulations and                                                                                                                                        
 unless after giving effect to such sale, the market value of all securities sold short does not exceed 25% of the value of BFK’s total assets and BFK’s aggregate short sales of a particular class of securities does not exceed 25% of the  
 then outstanding securities of that class. BFK may also make short sales “against the box” without respect to such limitations. In this type of short sale, at the time of the sale, BFK owns or has the immediate and unconditional right to 
 acquire at no additional cost the identical security.                                                                                                                                                                                         |

| B. | Purchase securities                                                                                                                               
 of open-end or closed-end investment companies except in compliance with the 1940 Act or any regulations promulgated or exemptive relief obtained 
 thereunder.                                                                                                                                       |

B-7

| C. | Purchase securities of companies for the purpose of exercising control. |

The restrictions and other limitations set forth herein will apply only at the time of purchase of securities and will not be considered violated unless an excess or deficiency occurs or exists immediately after and as a result of the acquisition of securities. Any investment policy or restriction described herein is deemed to be a non-fundamental policyor restriction of BFK, unless otherwise stated. In addition, to comply with Federal tax requirements for qualification as a “regulated investment company,” BFK’s investments will be limited in a manner such that at the close of each quarter of each taxable year, (a) no more than 25% of the value of BFK’s total assets are invested in the securities (other than United States government securities or securities of other regulated investment companies) of a single issuer or two or more issuers controlled by BFK and engaged in the same, similar or related trades or businesses and (b) with regard to at least 50% of BFK’s total assets, no more than 5% of its total assets are invested in the securities (other than United States government securities or securities of other regulated investment companies) of a single issuer and such securities do not represent more than 10 percent of the voting securities of such issuer. These tax-related limitationsmay be changed by the trustees to the extent appropriate in light of changes to applicable tax requirements. BFK is currently classified as a diversified fund under the 1940 Act. This