Company: BLE
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198164
Chunk: 260

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 260
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| c) | purchase securities of companies for the purpose of exercising control. |

If a percentage restriction on the investment policies or the investment or use of assets set forth above is adhered to at the time a transaction is effected, later changes in percentage resulting from changing values will not be considered a violation. BYM is classified as diversified within the meaning of the 1940 Act, which means that BYM is limited by the 1940 Act in the proportion of its assets that it may invest in securities of a single issuer. To qualify, BYM must comply with certain requirements, including limiting its investments so that at the close of each quarter of the taxable year, with respect to 75% of the market value of its total assets, not more than 5% of the market value of its total assets will be invested in the securities of a single issuer and BYM will not own more than 10% of the outstanding voting securities of a single issuer. For purposes of this restriction, BYM will regard each state and each political subdivision, agency or instrumentality of such state and each multi-state agency of which such state is a member and each public authority which issues securities on behalf of a private entity as a separate issuer, except that if the security is backed only by the assets and revenues of a non-governmententity then the entity with the ultimate responsibility for the payment of interest and principal may be regarded as the sole issuer. These tax-relatedlimitations may be changed by the Board of Trustees of BYM to the extent necessary to comply with changes in the federal tax requirements. In order to obtain and maintain the desired ratings for the VMTP Shares from Moody’s and Fitch and to comply with the Eligible Assets requirement of the Statement of Preferences, BYM will be required to comply with investment quality, diversification and other guidelines established by Moody’s and Fitch. Such guidelines will likely be more restrictive than the restrictions set forth above. BFK The following are fundamental investment restrictions of BFK and may not be changed without the approval of the holders of a majority of BFK’s outstanding Common Stock and outstanding shares of VMTP Shares and any other Preferred Stock, voting together as a single class, and a majority of the outstanding shares of VMTP Shares and any other Preferred Stock, voting as a separate class (which for this purpose and under the 1940 Act means the lesser of (i) 67% of the shares of each class of capital stock represented at a meeting at which more than 50% of the outstanding shares of