Company: MYI
Filing Date: 2025-07-16
Form Type: N-14 8C
Source: 0001193125-25-159991
Chunk: 127

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-16
Form: N-14 8C
Chunk 127
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 forth in to this Joint Proxy Statement/Prospectus. Obligations are included within the term MYI
Municipal Bonds if the interest paid thereon is excluded from gross income for federal income tax purposes in the opinion of bond counsel to the issuer.

MYI Municipal Bonds include debt obligations issued to obtain funds for various public purposes, including the construction of a wide range of
public facilities, refunding of outstanding obligations and obtaining funds for general operating expenses and loans to other public institutions and facilities. In addition, certain types of PABs are issued by or on behalf of public authorities to
finance various privately owned or operated facilities, including among other things, airports, public ports, mass commuting facilities, multi-family housing projects, as well as facilities for water supply, gas, electricity, sewage or solid waste
disposal and other specialized facilities. Other types of PABs, the proceeds of which are used for the construction, equipment or improvement of privately operated industrial or commercial facilities, may constitute MYI Municipal Bonds. The interest
on MYI Municipal Bonds may bear a fixed rate or be payable at a variable or floating rate. The two principal classifications of MYI Municipal Bonds are “general obligation” bonds and “revenue” bonds, which latter category
includes PABs and, for bonds issued on or before

58

August 15, 1986, industrial development bonds. MYI Municipal Bonds typically are issued to finance public projects, such as roads or public buildings, to pay general operating expenses or to
refinance outstanding debt. MYI Municipal Bonds may also be issued for private activities, such as housing, medical and educational facility construction, or for privately owned industrial development and pollution control projects. General
obligation bonds are backed by the full faith and credit, or taxing authority, of the issuer and may be repaid from any revenue source. Revenue bonds may be repaid only from the revenues of a specific facility or source. MYI Municipal Bonds may be
issued on a long-term basis to provide permanent financing. The repayment of such debt may be secured generally by a pledge of the full faith and credit taxing power of the issuer, a limited or special tax, or any other revenue source, including
project revenues, which may include tolls, fees and other user charges, lease payments and mortgage payments. MYI Municipal Bonds may also be issued to finance projects on a short-term interim basis, anticipating repayment with the proceeds of the
later issuance of long-term debt.

The MYI Municipal