VANGUARD MUNICIPAL BOND FUND INC
NSAR-A, 1997-04-25
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<PAGE>      PAGE  1
000 A000000 02/28/97
000 C000000 0000225997
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 VANGUARD MUNICIPAL BOND FUND, INC.
001 B000000 811-2687
001 C000000 6106691000
002 A000000 100 VANGUARD BOULEVARD
002 B000000 MALVERN
002 C000000 PA
002 D010000 19355
003  000000 N
004  000000 N
005  000000 N
006  000000 N
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007 C010100  1
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007 C030100 N
007 C010200  2
007 C020200 INTERMEDIATE-TERM PORTFOLIO
007 C030200 N
007 C010300  3
007 C020300 LONG-TERM PORTFOLIO
007 C030300 N
007 C010400  4
007 C020400 HIGH YIELD PORTFOLIO
007 C030400 N
007 C010500  5
007 C020500 MONEY MARKET PORTFOLIO
007 C030500 N
007 C010600  6
007 C020600 INSURED LONG-TERM PORTFOLIO
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022 A000001 GOLDMAN SACHS & CO.
022 B000001 13-5108880
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022 A000002 MERRILL LYNCH PIERCE FENNER & SMITH
022 B000002 13-5674085
022 C000002    902415
022 D000002    251395
022 A000003 SMITH BARNEY INC.
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022 A000004 LEHMAN BROTHERS INC.
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022 C000004    817114
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022 A000005 MONEY MARKET PORTFOLIO/VANGUARD MUNICIPAL BD
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022 C000005    370175
022 D000005    461257
022 A000006 J.P. MORGAN SECURITIES INC.
022 B000006 13-3224016
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022 A000007 BEAR STEARNS & CO.
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022 A000008 MORGAN STANLEY & CO., INC.
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022 A000009 INTERMEDIATE-TERM PORTFOLIO/VANGUARD MUNI BD
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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074 X000700    30221
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075 A000700        0
075 B000700  1794601
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SIGNATURE   GARY P. SOURA                                
TITLE       MANAGER             
 


<TABLE> <S> <C>

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<CIK> 0000225997
<NAME> VANGUARD MUNICIPAL BOND FUND, INC.
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   <NAME> SHORT-TERM PORTFOLIO
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</TABLE>

<TABLE> <S> <C>

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<CIK> 0000225997
<NAME> VANGUARD MUNICIPAL BOND FUND, INC.
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   <NAME> INTERMEDIATE-TERM PORTFOLIO
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</TABLE>

<TABLE> <S> <C>

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<NAME> VANGUARD MUNICIPAL BOND FUND, INC.
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000225997
<NAME> VANGUARD MUNICIPAL BOND FUND, INC.
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   <NAME> HIGH YIELD PORTFOLIO
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000225997
<NAME> VANGUARD MUNICIPAL BOND FUND, INC.
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   <NUMBER> 05
   <NAME> MONEY MARKET PORTFOLIO
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000225997
<NAME> VANGUARD MUNICIPAL BOND FUND, INC.
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000225997
<NAME> VANGUARD MUNICIPAL BOND FUND, INC.
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<PER-SHARE-NII>                                  0.236
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<PER-SHARE-NAV-END>                              10.72
<EXPENSE-RATIO>                                   0.19
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

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