UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-10339
 
 
BlackRock Municipal Income Trust
(Exact name of registrant as specified in charter)
 
100 Bellevue Parkway, Wilmington, DE 19809
(Address of principal executive offices)  (Zip code)
 
Robert S. Kapito, President
BlackRock Municipal Income Trust
40 East 52nd Street, New York, NY 10022
(Name and address of agent for service)


Registrant's telephone number, including area code: 888-825-2257
 
   
Date of fiscal year end:  October 31, 2004 
 
   
Date of reporting period: July 31, 2004 
 


Item 1. Schedule of Investments

The Trust's schedule of investments pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:

PORTFOLIO OF INVESTMENTS (unaudited)
JULY 31, 2004
BlackRock Municipal Income Trust (BFK)

 
Principal
 
 
Amount
Option Call
 
 
Rating1
(000)
Description
Provisions2
Value
  
        LONG-TERM INVESTMENTS—160.1%      
          Alabama—6.3%      
  Baa2   $ 7,000   Courtland Ind. Dev. Brd., PCR, Champion Intl. Corp. Proj., 6.15%, 6/01/19 06/05 @ 102   $ 7,275,800  
  A2   15,000   Huntsville Hlth. Care Auth., GO, Ser. B, 5.75%, 6/01/32 06/12 @ 101   15,429,600  
  BBB   15,000   Phenix Cnty. Indl. Dev. Brd., Env. Impvt. Rev., Ser. A, 6.35%, 5/15/35 05/12 @ 100   15,480,900  
               
 
                38,186,300  
               
 
          Arizona—1.2%      
  A3   7,000   Scottsdale Ind. Dev. Auth., Scottsdale Hlth. Care, 5.80%, 12/01/31 12/11 @ 101   7,082,740  
               
 
          California—21.7%      
  A   6,500   California Infrastructure & Econ. Dev., J. David Gladstone Inst. Proj., 5.25%, 10/01/34 10/11 @ 101   6,328,140  
  A   5,000   California Statewide Cmnty. Dev. Auth., Mem. Hlth. Svcs., Ser. A, 5.50%, 10/01/33 04/13 @ 100   5,075,950  
          Foothill/Eastn. Transp. Corridor Agcy., Toll Road Rev.,      
  BBB   54,635       Zero Coupon, 1/15/32 01/10 @ 27.37   10,021,152  
  BBB   20,535       Zero Coupon, 1/15/34 01/10 @ 24.228   3,327,286  
  BBB   75,000       Zero Coupon, 1/15/38 01/10 @ 19.014   9,387,750  
          Golden St. Tobacco Sec. Corp.,      
  BBB   10,000       Ser. A-1, 6.625%, 6/01/40 06/13 @ 100   8,813,900  
  Baa1   30,600       Ser. B, 5.50%, 6/01/43 06/13 @ 100   30,644,064  
  Baa1   16,500       Ser. B, 5.625%, 6/01/38 06/13 @ 100   16,666,650  
          Los Angeles Regl. Arpt. Impvt., Corp. Lease Rev.,      
  Caa2   20,055       Amer. Airlines Inc., Ser. C, 7.50%, 12/01/24 12/12 @ 102   17,047,753  
  AAA   13,320       Facs. Laxfuel Corp., L.A. Intl., 5.50%, 1/01/32, AMBAC 01/12 @ 100   13,407,379  
  NR   5,000   Murrieta Cmnty. Facs. Dist., Spl. Tax No. 2, The Oaks Impvt. Area A, 6.00%, 9/01/34 09/14 @ 100   4,993,500  
          San Marcos, Spl. Tax Rev., Cmnty. Facs. Dist. No. 02-01,      
  NR   1,870       5.90%, 9/01/28 09/10 @ 102   1,867,513  
  NR   3,510       5.95%, 9/01/35 09/10 @ 102   3,504,875  
               
 
                131,085,912  
               
 
          Colorado—2.9%      
  AAA   14,000   Colorado Wtr. Rec. & Pwr. Dev. Auth., Parker Wtr. & San. Dist., Ser. D, 5.25%, 9/01/43,
    MBIA		 09/14 @ 100   14,256,340  
  BBB   3,500   Denver Hlth. & Hosp. Auth., Hlth. Care Rev., Ser. A, 6.00%, 12/01/31 12/11 @ 100   3,481,275  
               
 
                17,737,615  
               
 
          Connecticut—5.1%      
  A3   5,950   Connecticut Dev. Auth., Connecticut Lt. & Pwr., PCR, Ser. A, 5.85%, 9/01/28 10/08 @ 102   6,194,842  
          Mohegan Tribe Indians, Pub. Impvt. Priority Dist.,      
  BBB-   2,730       5.25%, 1/01/33 01/14 @ 100   2,651,840  
  BBB-   20,940       6.25%, 1/01/31 01/11 @ 101   21,896,330  
               
 
                30,743,012  
               
 
          Delaware—6.3%      
          Charter Mac Equity Issuer Trust,      
  A3   1,000 3     Ser. A, 6.625%, 6/30/49 06/09 @ 100   1,096,240  
  A3   11,000 3     Ser. A-2, 6.30%, 6/30/49 06/09 @ 100   11,902,550  
  Baa1   16,000 3     Ser. A-3, 6.80%, 10/01/52 10/14 @ 100   17,836,160  
  Baa1   6,500 3     Ser. B-1, 6.80%, 11/30/50 11/10 @ 100   7,152,795  
               
 
                37,987,745  
               
 
          District of Columbia—5.8%      
  A   2,390   Friendship Pub. Charter Sch. Inc., 5.25%, 6/01/33, ACA 06/14 @ 100   2,267,847  
  AAA   15,600   Georgetown Univ., Ser. A, Zero Coupon, 4/01/36, MBIA 04/11 @ 22.875   2,406,612  
  AAA   51,185   Georgetown Univ., Ser. A, Zero Coupon, 4/01/37, MBIA 04/11 @ 21.546   7,424,384  
  BBB   25,535   Tobacco Settlement Fin. Corp., 6.75%, 5/15/40 05/11 @ 101   22,725,129  
               
 
                34,823,972  
               
 

BlackRock Municipal Income Trust (BFK) (continued)

     
Principal
 
     
Amount
Option Call
 
    Rating1
(000)
Description
Provisions2
Value
  
          Florida—10.6%      
    NR   $ 3,000   Amelia Nat. Cmnty. Dev. Dist., Cap. Impvt., Ser. A, 6.30%, 5/01/35 05/14 @ 101   $ 3,020,100  
    NR   2,000   CFM Cmnty. Dev. Dist., Cap. Impvt., Ser. A, 6.25%, 5/01/35 05/14 @ 101   2,009,220  
    Baa2   4,600   Escambia Cnty., PCR, Champion Intl. Corp. Proj., 6.40%, 9/01/30 09/06 @ 102   4,723,050  
    A   9,670   Highlands Cnty. Hlth. Facs. Auth., Hosp. Adventist/Sunbelt, Ser. A, 6.00%, 11/15/31 11/11 @ 101   10,127,584  
    BBB-   9,000   Martin Cnty. Indl. Dev. Auth., Indiantown Cogeneration Proj., Ser. A, 7.875%,
    12/15/25		 12/04 @ 102   9,223,920  
    BB   11,685   Miami Beach Hlth. Facs. Auth., Mt. Sinai Med. Ctr., 6.75%, 11/15/21 11/14 @ 100   11,853,264  
    NR   3,705   Parkway Ctr. Cmnty. Dev. Dist., Ser. A, 6.30%, 5/01/34 05/14 @ 101   3,667,691  
    NR   3,970   Stevens Plantation Cmnty. Dev. Dist., Spl. Assmt. Rev., Ser. A, 7.10%, 5/01/35 05/14 @ 100   3,989,969  
    NR   10,000   Village Cmnty. Dev. Dist. No. 6, Spl. Assmnt. Rev., 5.625%, 5/01/22 05/13 @ 100   9,946,200  
            World Commerce Cmnty. Dev. Dist.,      
    NR   4,000       Ser. A-1, 6.50%, 5/01/36 05/14 @ 101   3,989,480  
    NR   1,750       Ser. A-2, 6.125%, 5/01/35 05/14 @ 101   1,732,483  
                 
 
                  64,282,961  
                 
 
            Georgia—0.7%      
    BBB   4,000   Richmond Cnty. Dev. Auth., Env. Impvt. Rev., Intl. Paper Co. Proj., Ser. A, 6.00%,
    2/01/25		 02/12 @ 101   4,088,360  
                 
 
            Idaho—2.9%      
    AAA   16,970   Univ. of Idaho, Student Fee Hsg. Impvt. Proj., 5.40%, 4/01/41, FGIC 04/11 @ 100   17,405,280  
                 
 
            Illinois—18.0%      
            Bolingbrook, Ser. B, FGIC,      
    AAA   14,085       Zero Coupon, 1/01/34 No Opt. Call   2,656,713  
    AAA   7,120       Zero Coupon, 1/01/33 No Opt. Call   1,425,495  
    NR   4,630   Centerpoint Intermodal Ctr. Prog. Trust, Ser. A, 8.00%, 6/15/23 No Opt. Call   4,533,928  
            Illinois Dev. Fin. Auth.,      
    A   7,145 4     Hosp. Rev., Adventist Hlth. Sys. Sunbelt Oblig., 5.65%, 11/15/24 11/09 @ 101   7,194,729  
    A2   25,000       PCR, Ser. C, 5.95%, 8/15/26 12/06 @ 101   25,586,500  
            Illinois Edl. Facs. Auth.,      
    Baa2   10,000       Student Hsg. Rev., Edl. Advancement Fund Univ. Ctr. Proj., 6.25%, 5/01/30 05/12 @ 101   10,194,200  
    Baa2   7,000       Student Hsg. Rev., Edl. Advancement Fund Univ. Ctr. Proj., 6.25%, 5/01/34 05/07 @ 100   7,174,790  
    Aa1   20,000       Univ. of Chicago, Ser. A, 5.25%, 7/01/41 07/11 @ 101   20,102,600  
    AA+   3,700   Illinois Fin. Auth., Northwestern Mem. Hosp., Ser. A, 5.50%, 8/15/43 08/14 @ 100   3,723,680  
            Illinois Hlth. Facs. Auth., Elmhurst Mem. Hlth. Care,      
    A2   5,000       5.50%, 1/01/22 01/13 @ 100   5,094,600  
    A2   6,000       5.625%, 1/01/28 01/13 @ 100   6,082,440  
    AAA   40,000   Met. Pier & Exposition Auth., Dedicated St. Tax Rev., McCormick Place Expansion      
                Proj., Ser. A, Zero Coupon, 12/15/34, MBIA No Opt. Call   7,252,800  
    AAA   7,645   O’Hare Intl. Arpt., Ser. C-2, 5.25%, 1/01/30, FSA 01/14 @ 100   7,640,642  
                 
 
                  108,663,117  
                 
 
            Indiana—7.2%  
    A+   9,000   Indiana Hlth. Fac. Fin. Auth., Methodist Hosp. Inc., 5.50%, 9/15/31 09/11 @ 100   8,963,010  
    BBB   7,500   Indianapolis Arpt. Auth., Fed. Express Corp. Proj., 5.10%, 1/15/17 No Opt. Call   7,580,100  
            Petersburg, PCR, Pwr. & Lt. Conv.,      
    BBB   10,000       5.90%, 12/01/24 08/11 @ 102   10,251,800  
    BBB   16,000       5.95%, 12/01/29 08/11 @ 102   16,428,160  
                 
 
                  43,223,070  
                 
 
            Kentucky—1.5%      
    AAA   9,060   Kentucky Hsg. Corp., Hsg. Rev., Ser. F, 5.45%, 1/01/32 07/11 @ 100   9,111,280  
                 
 
            Louisiana—4.6%      
            Louisiana Local Gov’t. Env. Facs. & Cmnty. Dev. Auth.,      
    A   21,425       Cap. Projs. & Equip. Acquisition, 6.55%, 9/01/25, ACA No Opt. Call   23,254,695  
    Baa1   4,605       Oakleigh Apts. Proj., Ser. A, 6.375%, 6/01/38 06/13 @ 102   4,554,069  
                 
 
                  27,808,764  
                 
 
            Maryland—2.1%      
    BBB   4,205   Maryland Hlth. & Higher Edl. Facs. Auth., Medstar Hlth., 5.50%, 8/15/33 08/14 @ 100   4,092,600  
    NR   8,000 3,5 MuniMae TE Bond Subsidiary, LLC, Ser. A, 6.875%, 6/30/49 06/09 @ 100   8,761,280  
                 
 
                  12,853,880  
                 
 
            Michigan—2.9%      
    AA   17,210   Kent Hosp. Fin. Auth., Spectrum Hlth., Ser. A, 5.50%, 1/15/31 07/11 @ 101   17,565,386  
                 
 

BlackRock Municipal Income Trust (BFK) (continued)

 
Principal
 
 
Amount
Option Call
 
 
Rating1
(000)
Description
Provisions2
Value
  
        Minnesota—0.3%      
  A2   $ 1,800   Minnesota Higher Ed. Facs., Univ. of St. Thomas, Ser. 5Y, 5.25%, 10/01/34
10/14 @ 100
  
$
1,801,836  
           
 
          Mississippi—3.1%
 
  A2   18,680   Gulfport Hosp. Fac., Mem. Hosp. Gulfport Proj., Ser. A, 5.75%, 7/01/31
07/11 @ 100
  
18,910,324
  
           
 
          New Hampshire—0.6%
 
  A+   3,500   New Hampshire Hlth. & Edl. Facs. Auth., Exeter Hosp. Proj., 5.75%, 10/01/31
10/11 @ 101
  
3,590,580
  
           
 
          New Jersey—8.2%
 
          New Jersey Econ. Dev. Auth.,
 
  B   31,410       Continental Airlines Inc. Proj., 7.00%, 11/15/30
11/10 @ 101
  
24,269,879
  
  Baa3   8,000       Kapkowski Road Landfill Proj., 6.50%, 4/01/28
No Opt. Call
  
8,905,600
  
  BBB   18,000   Tobacco Settlement Fin. Corp., 6.75%, 6/01/39
06/13 @ 100
  
16,151,760
  
           
 
 
           
 
49,327,239
  
           
 
          New York—6.5%
 
          Met. Transp. Auth., Ser. A,
 
  AAA   4,175       Dedicated Tax Fund, 5.00%, 11/15/30, MBIA
11/12 @ 100
  
4,175,083
  
  AAA   7,115       Svc. Contract, 5.00%, 7/01/30, AMBAC
07/12 @ 100
  
7,115,000
  
          New York City Mun. Wtr. Fin. Auth.
 
  AA+   3,980       Ser. A, 5.00%, 6/15/39
06/14 @ 100
  
3,916,599
  
  AAA   6,680       Ser. A, 5.00%, 6/15/39, AMBAC
06/14 @ 100
  
6,616,741
  
  AAA   11,825       Ser. C, 5.00%, 6/15/35, AMBAC
06/14 @ 100
  
11,791,062
  
  AAA   5,375   New York Env. Facs. Corp., Clean Wtr. & Drinking Wtr. Rev., NYC Mun.Wtr. Proj. B,
 
              5.00%, 6/15/31 06/12 @ 100   5,388,760  
           
 
 
           
 
39,003,245
  
           
 
          Ohio—3.0%
 
  Baa2   14,500   Ohio Air Quality Dev. Auth., PCR, Cleveland Elec. Illuminating Co. Proj., Ser. B,
 
              6.00%, 8/01/20 08/07 @ 102   14,751,140  
  NR   3,260   Pinnacle Cmnty. Infrastructure Fin. Auth., Ohio Facs., Ser. A, 6.25%, 12/01/36
12/14 @ 101
  
3,259,609
  
           
 
 
           
 
18,010,749
  
           
 
          Pennsylvania—4.7%
 
  A3   6,500   Pennsylvania Econ. Dev. Fin. Auth., Amtrak Proj., Ser. A, 6.375%, 11/01/41
05/11 @ 101
  
6,652,425
  
          Pennsylvania Higher Edl. Facs. Auth.,
 
  BBB+   4,000       La Salle Univ., 5.50%, 5/01/34
05/13 @ 100
  
3,931,320
  
  A   17,250       Univ. of Pennsylvania Hlth. Svcs., Ser. A, 5.75%, 1/01/22
01/06 @ 101
  
17,752,320
  
           
 
 
           
 
28,336,065
  
           
 
          South Carolina—5.0%
 
          Lexington Cnty. Hlth. Svcs. Dist., Hosp. Rev.,
 
  A   5,000       5.50%, 11/01/32
11/13 @ 100
  
5,022,050
  
  A   10,000       5.75%, 11/01/28
11/13 @ 100
  
10,319,400
  
          So. Carolina Jobs Econ. Dev. Auth., Hosp. Facs. Rev., Palmetto Hlth. Alliance,
 
  BBB   5,075       Ser. A, 6.25%, 8/01/31
08/13 @ 100
  
5,234,050
  
  BBB   9,000       Ser. C, 6.875%, 8/01/27
08/13 @ 100
  
9,731,250
  
           
 
 
           
 
30,306,750
  
           
 
          Tennessee—1.5%
 
  AAA   20,825   Knox Cnty. Hlth. Edl. & Hsg. Facs. Brd., Hosp. Facs. Rev., Ser. A, Zero Coupon,
    1/01/20, FSA
01/13 @ 67.474
  
8,973,493
  
           
 
          Texas—15.3%
 
          Brazos River Auth., PCR, TXU Elec. Co. Proj., Ser. C,
 
  BBB   8,655       5.75%, 5/01/36
No Opt. Call
  
9,057,804
  
  BBB   1,320       6.75%, 10/01/38
10/13 @ 101
  
1,376,245
  
  AAA   3,805   Dallas Area Rapid Trans., 5.00%, 12/01/31, AMBAC
12/11 @ 100
  
3,766,379
  
          Harris Cnty. Houston Sports Auth., MBIA,
 
  AAA   12,580       Ser. A, Zero Coupon, 11/15/38
11/30 @ 61.166
  
1,686,852
  
  AAA   26,120       Ser. A-3, Zero Coupon, 11/15/37
11/24 @ 46.545
  
3,691,279
  
  AAA   5,000       Ser. H, Zero Coupon, 11/15/35
11/31 @ 78.178
  
789,650
  
  BBB   4,670   Matagorda Cnty. Navigation Dist. No. 1, 5.60%, 3/01/27
03/14 @ 101
  
4,680,274
  
  BBB   4,450   Sabine River Auth., PCR, TXU Elec. Co. Proj., Ser. B, 5.75%, 11/01/11
No Opt. Call
  
4,745,035
  

BlackRock Municipal Income Trust (BFK) (continued)

   
Principal
 
   
Amount
Option Call
 
   
Rating1
(000)
Description
Provisions2
Value
  
          Texas—(continued)      
            Texas Affordable Hsg. Corp., Multi-Fam. Hsg. Rev.,      
    Baa1   $ 6,010       5.80%, 11/01/26 11/11 @ 102  
$
5,877,239  
    BBB-   4,435       Amer. Oppty. Hsg., Ser. B, 8.00%, 3/01/32 09/12 @ 102   4,133,509  
    Baa1   18,605       Arborstone/Baybrook Oaks, Ser. A, 5.85%, 11/01/31 11/11 @ 102   18,070,478  
    BBB-   6,515       So. Texas Pptys. Corp., Ser. B, 8.00%, 3/01/32 09/12 @ 102   6,072,110  
            Texas Tpke. Auth., Central Sys. Rev., AMBAC,      
    AAA   35,000       Zero Coupon, 8/15/32 08/12 @ 30.846   6,613,950  
    AAA   62,325       Zero Coupon, 8/15/33 08/12 @ 28.997   11,047,106  
    AAA   65,040       Zero Coupon, 8/15/34 08/12 @ 27.31   10,853,225  
                 
 
                  92,461,135  
                 
 
            Virginia—0.3%      
    AAA   8,105   Virginia Transp. Brd. Trust, Zero Coupon, 4/01/32, MBIA 04/12 @ 34.99   1,702,455  
                 
 
            Washington—0.4%      
    A-   2,190   Energy Northwest Wind Proj., Ser. B, 6.00%, 7/01/23 01/07 @ 103   2,283,491  
                 
 
            West Virginia—1.7%      
    BBB   8,000   Braxton Cnty. Sld. Wst. Disp., Weyerhaeuser Co. Proj., 6.50%, 4/01/25 04/05 @ 102   8,279,200  
    AAA   2,070   West Virginia Econ. Dev. Auth., Correctional Juvenile Safety, Ser. A,      
                5.00%, 6/01/29, MBIA 06/14 @ 100   2,055,614  
                 
 
                  10,334,814  
                 
 
            Wisconsin—9.7%      
    BBB   26,000   Badger Tobacco Asset Sec. Corp., 6.375%, 6/01/32 06/12 @ 100   22,062,560  
            Wisconsin Hlth. & Edl. Facs. Auth.,      
    A-   7,500       Aurora Hlth. Care, 6.40%, 4/15/33 04/13 @ 100   7,845,975  
    A+   13,750       Froedert & Cmnty. Hlth. Oblig., 5.375%, 10/01/30 10/11 @ 101   13,607,825  
    A   15,000       Wheaton Franciscan Svcs., 5.75%, 8/15/30 02/12 @ 101   15,408,300  
                 
 
                  58,924,660  
                 
 
            Total Long-Term Investments (cost $957,135,687)     966,616,230  
                 
 
            SHORT-TERM INVESTMENTS—5.3%      
            New York—2.3%      
    A-1+   14,000 6 New York City Transl. Fin. Auth., Ser. A-1, 1.08%, 8/04/04, FRWD N/A   14,000,000  
                 
 
            Ohio—2.3%      
    VMIG1   13,800 6 Hamilton Cnty., Hosp. Facs., 1.09%, 8/05/04, FRWD N/A   13,800,000  
                 
 
       
           
       
Shares
            
       
(000)
            
       
 		   
            Money Market Fund—0.7%      
        4,450   AIM Tax Free Investment. Co. Cash Reserve Portfolio N/A   4,450,000  
                 
 
            Total Short-Term Investments (cost $32,250,000)     32,250,000  
                 
 
            Total Investments—165.4% (cost $989,385,687)     998,866,230  
            Liabilities in excess of other assets—(3.3)%     (19,733,605)  
            Preferred shares at redemption value, including dividends payable—(62.1)%     (375,165,694)  
                 
 
            Net Assets Applicable to Common Shareholders—100%    
$
 603,966,931  
                 
 
   
1   Using the higher of Standard & Poor’s, Moody’s Investors Service or Fitch Ratings ratings.  
2   Date (month/year) and price of the earliest call or redemption. There may be other call provisions at varying prices at later dates.  
3   Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of July 31, 2004, the Trust held 7.7% of its net assets, with a current market value of $46,749,025, in securities restricted as to resale.  
4   Entire or partial principal amount pledged as collateral for financial futures contracts.  
5   Security is deemed to be of investment grade quality by the investment advisor.  
6   For purposes of amortized cost valuation, the maturity date of this instrument is considered to be the earlier of the next date on which the security can be redeemed at par, or the next date on which the rate of interest is adjusted. Rate shown as of July 31, 2004. 
 
 

KEY TO ABBREVIATIONS

ACA   — American Capital Access FSA    —  Financial Security Assurance
AMBAC  —  American Municipal Bond Assurance Corporation GO   —  General Obligation
FGIC  —  Financial Guaranty Insurance Company  MBIA  —  Municipal Bond Insurance Association
FRWD  —  Floating Rate Weekly Demand PCR  —  Pollution Control Revenue

Item 2. Controls and Procedures

(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrant’s disclosure controls and procedures are effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely.

(b) The registrant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

(a) Separate certifications of Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) BlackRock Municipal Income Trust
 
 

 

By: /s/ Henry Gabbay  
 
 
Name: Henry Gabbay  
Title: Treasurer  
Date: September 28, 2004  

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: /s/ Robert S. Kapito  
 
 
Name: Robert S. Kapito  
Title: Principal Executive Officer  
Date: September 28, 2004  

 

By: /s/ Henry Gabbay  
 
 
Name: Henry Gabbay  
Title: Principal Financial Officer  
Date: September 28, 2004