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SIGNATURE BETH SMITH
TITLE ASST VICE PRESIDENT
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<INTEREST-EXPENSE> 0
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<NAME> ALLIANCE BOND FUND, INC.
<SERIES>
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<NAME> ALLIANCE BOND FUND CORPORATE BOND
<S> <C>
<PERIOD-TYPE> 12-MOS
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<ACCUMULATED-GAINS-PRIOR> (35,889,776)
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<NAME> ALLIANCE BOND FUND, INC.
<SERIES>
<NUMBER> 023
<NAME> ALLIANCE BOND FUND CORPORATE BOND
<S> <C>
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Report of Independent Auditors
To the Shareholders and Board of Directors of
Alliance Bond Fund, Inc.
In planning and performing our audit of the financial statements of
Alliance Bond Fund, Inc. (comprising the Corporate Bond and U.S.
Government Portfolios) for the year ended June 30, 1998, we
considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of Form N-
SAR, not to provide assurance on the internal control.
The management of Alliance Bond Fund, Inc. is responsible for
establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are required
to assess the expected benefits and related costs of controls.
Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external
purposes that are fairly presented in conformity with generally
accepted accounting principles. Those controls include the
safeguarding of assets against unauthorized acquisition, use or
disposition.
Because of inherent limitations in internal control, errors or
irregularities may occur and not be detected. Also, projection of
any evaluation of internal control to future periods is subject to
the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of the internal control would not necessarily
disclose all matters in the internal control that might be material
weaknesses under standards established by the American Institute of
Certified Public Accountants. A material weakness is a condition
in which the design or operation of one or more of the internal
control components does not reduce to a relatively low level the
risk that errors or irregularities in amounts that would be
material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in
the normal course of performing their assigned functions. However,
we noted no matters involving the internal control and its
operation, including controls for safeguarding securities, that we
consider to be material weaknesses as defined above at June 30,
1998.
This report is intended solely for the information and use of the
board of directors and management of Alliance Bond Fund, Inc. and
the Securities and Exchange Commission.
ERNST & YOUNG LLP
New York, New York
August 4, 1998
Item 77E Legal Proceedings
On December 12, 1997, The Alliance Bond Fund, Inc., along
with a number of other Plaintiffs, commenced action in the
United States District Court for the Southern District of New
York against Grupo Mexican de Desarrollo, S.A. ("GMD") and
other named defendants, seeking a money judgment for the full
principal amount, with interest resulting from GMD's default
on certain Notes. On April 17, 1998, the United States
District Court for the Southern District of New York issued
an Order and Judgment to the Plaintiffs in the amount of
$82,444,259 on their breach of contract claim and ordered the
Defendant to surrender certain assets to Plaintiffs in
satisfaction of the Judgment. The Defendants are appealing
certain aspects of the Order and Judgment.
Item 77Q1(a)
ALLIANCE BOND FUND, INC.
ARTICLES SUPPLEMENTARY
Alliance Bond Fund, Inc., a Maryland corporation having its
principal office in the City of Baltimore (hereinafter called the
"Corporation"), certifies that:
FIRST: The Board of Directors of the Corporation hereby increases
the aggregate number of shares of capital stock that the Corporation has
authority to issue by 400,000,000 shares and hereby classifies 200,000,000 of
such shares as "Class B Common Stock" of the Corporate Bond Portfolio and
200,000,000 of such shares as "Class C Common Stock" of the Corporate Bond
Portfolio.
SECOND: The Class B Common Stock and the Class C Common Stock,
respectively, of the Corporate Bond Portfolio as classifed herein shall have
the preferences, conversion or other rights, voting powers, restrictions,
limitations as to dividends, qualifications, and terms or conditions of
redemption as currently set forth in the Charter of the Corporation with
respect to the Class B Common Stock and the Class C Common Stock,
respectively, of the Corporate Bond Portfolio.
THIRD: A. Immediately before the increase in
authorized capital stock provided for herein, the total number of shares
of stock of all classes which the Corporation had authority to issue was
1,400,000,000 shares, the par value of each class of stock being $.001
per share, with an aggregate par value of $1,400,000, classified as
follows:
Class B Class C Advisor Class
Name of Portfolio Common Stock Common Stock Common Stock
Common Stock
U.S. Government 200,000,000 200,000,000 200,000,000
200,000,000
Portfolio
Corporate Bond 250,000,000 50,000,000 50,000,000 250,000,000
Portfolio
B. Immediately after the increase in authorized
capital stock provided for herein, the total number of shares of stock
of all classes which the Corporation has authority to issue is
1,800,000,000 the par
value of each class of stock being $.001 per share, with an aggregate
par value of $1,800,000, classified as follows:
Class B Class C Advisor Class
Name of Portfolio Common Stock Common Stock Common Stock
Common Stock
U.S. Government 200,000,000 200,000,000 200,000,000
200,000,000
Portfolio
Corporate Bond 250,000,000 250,000,000 250,000,000 250,000,000
Portfolio
FOURTH: The Corporation is registered as an open-end
company under the Investment Company Act of 1940.
FIFTH: The total number of shares that the Corporation has
authority to issue has been increased by the Board of Directors in
accordance with Section 2-105(c) of the Maryland General Corporation
Law.
SIXTH: The shares aforesaid have been duly classified by
the Corporation's Board of Directors pursuant to authority and power
contained in the Corporation's Articles of Incorporation.
IN WITNESS WHEREOF, Alliance Bond Fund, Inc. has caused
these Articles Supplementary to be executed by its Chairman of the Board
and attested by its Secretary and its corporate seal to be affixed on
this day of March, 1998. The Chairman of the Board of the
Corporation who signed these Articles Supplementary acknowledges them to
be the act of the Corporation and states under the penalties of perjury
that, to the best of his knowledge, information and belief, the matters
and facts set forth herein relating to authorization and approval hereof
are true in all material respects.
ALLIANCE BOND FUND, INC.
[CORPORATE SEAL]
By:
John D. Carifa
Chairman
Attested:
Edmund P. Bergan, Jr.,
Secretary
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