Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 216

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 216
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 which qualifies for a federal income tax exemption. As a result, this legislation and legislation that may be enacted in the future may affect the availability of MVF Municipal Bonds for investment by MVF.

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Description of MVF Municipal Bonds

See “The Acquiring Fund’s Investments – Description of MYI Municipal Bonds” for additional information regarding the
types of municipal bonds in which MVF invests.

Temporary Investments

During temporary defensive periods (e.g., times when, in Investment Advisor’s opinion, temporary imbalances of supply and demand or
other temporary dislocations in the tax-exempt bond market adversely affect the price at which long-term or intermediate-term MVF Municipal Bonds are available), and in order to keep cash on hand fully
invested, MVF may invest up to 100% of its total assets in liquid, short-term investments including high quality, short-term securities which may be either tax-exempt or taxable and securities of other open-
or closed-end investment companies that invest primarily in MVF Municipal Bonds of the type in which MVF may invest directly. MVF intends to invest in taxable short-term investments only in the event that
suitable tax-exempt temporary investments are not available at reasonable prices and yields. MVF’s stated expectation is that it will invest only in taxable temporary investments which are U.S.
government securities and which mature within one year from the date of purchase or carry a variable or floating rate of interest (such short-term obligations being referred to herein as “Temporary Investments”). Temporary Investments of
MVF may include certificates of deposit issued by U.S. banks with assets of at least $1 billion, commercial paper or corporate notes, bonds or debentures with a remaining maturity of one year or less, or repurchase agreements. See
“Repurchase Agreements.” To the extent MVF invests in Temporary Investments, MVF will not at such times be in a position to achieve its investment objective of tax-exempt income.

Short-term taxable fixed income investments include, without limitation, the following:

(1) U.S. Government securities, including bills, notes and bonds differing as to maturity and rates of interest that are either
issued or guaranteed by the U.S. Treasury or by U.S. Government agencies or instrumentalities. U.S. Government securities include securities issued by (a) the Federal Housing Administration, Farmers Home Administration, Export-Import Bank of
the United States, Small Business Administration, and the Government National Mortgage Association, whose securities are supported by the full faith and credit of