<PAGE> PAGE 1
000 B000000 12/31/94
000 C000000 0000877358
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 THE BLACKROCK MUNICIPAL TARGET TERM TRUST INC
001 B000000 811-6355
001 C000000 2122142189
002 A000000 199 WATER STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10292
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 BLACKROCK FINANCIAL MANAGEMENT L.P.
008 B000001 A
008 C000001 801-32183
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10154
010 A000001 PRUDENTIAL MUTUAL FUND MANAGEMENT, INC.
010 B000001 811-31104
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10292
011 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH,INC.
011 B000001 8-00000000
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10281
011 A000002 A.G. EDWARDS & SONS, INC.
011 B000002 8-00000000
011 C010002 NEW YORK
<PAGE> PAGE 2
011 C020002 NY
011 C030002 10005
011 A000003 KIDDER, PEABODY & CO. INC.
011 B000003 8-4831
011 C010003 NEW YORK
011 C020003 NY
011 C030003 10005
011 A000004 PAINEWEBBER INC.
011 B000004 8-16267
011 C010004 NEW YORK
011 C020004 NY
011 C030004 10019
011 A000005 PRUDENTIAL SECURITIES INC.
011 B000005 8-27154
011 C010005 NEW YORK
011 C020005 NY
011 C030005 10292
011 A000006 LEHMAN BROTHERS INC.
011 B000006 8-00000000
011 C010006 NEW YORK
011 C020006 NY
011 C030006 10281
012 A000001 STATE STREET BANK & TRUST CO.
012 B000001 84-0000000
012 C010001 NORTH QUINCY
012 C020001 MA
012 C030001 02171
013 A000001 DELOITTE & TOUCHE, LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10281
014 A000001 DELETE
015 A000001 STATE STREET BANK & TRUST CO.
015 B000001 C
015 C010001 NORTH QUINCY
015 C020001 MA
015 C030001 02171
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 21
019 C000000 BLACKROCK-
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
<PAGE> PAGE 3
020 C000010 0
021 000000 0
022 A000001 PAINEWEBBER, INC.
022 B000001 13-2638166
022 C000001 54230
022 D000001 47743
022 A000002 SMITH BARNEY INC.
022 B000002 13-3371860
022 C000002 21692
022 D000002 28748
022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000003 13-5674085
022 C000003 10121
022 D000003 27330
022 A000004 TUCKER, ANTHONY, INC.
022 B000004 04-2566229
022 C000004 24264
022 D000004 10317
022 A000005 DONALDSON, LUFKIN, & JENRETTE SECURITIES CORP
022 B000005 13-2741729
022 C000005 12000
022 D000005 16220
022 A000006 GOLDMAN, SACHS & CO. INC.
022 B000006 13-5108880
022 C000006 11444
022 D000006 12502
022 A000007 BEAR, STEARNS & CO.
022 B000007 13-3299429
022 C000007 12782
022 D000007 5159
022 A000008 MORGAN STANLEY & CO. INC.
022 B000008 13-2655998
022 C000008 13289
022 D000008 3527
022 A000009 KIDDER, PEABODY & CO.
022 B000009 13-5650440
022 C000009 6400
022 D000009 5900
022 A000010 MORGAN, (J.P.) SECURITIES INC.
022 B000010 13-3224016
022 C000010 9809
022 D000010 981
023 C000000 200282
023 D000000 183400
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
<PAGE> PAGE 4
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 N
028 A010000 0
028 A020000 0
028 A030000 0
028 A040000 0
028 B010000 0
028 B020000 0
028 B030000 0
028 B040000 0
028 C010000 0
028 C020000 0
028 C030000 0
028 C040000 0
028 D010000 0
028 D020000 0
028 D030000 0
028 D040000 0
028 E010000 0
028 E020000 0
028 E030000 0
028 E040000 0
028 F010000 0
028 F020000 0
028 F030000 0
028 F040000 0
028 G010000 0
028 G020000 0
028 G030000 0
028 G040000 0
028 H000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.350
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
<PAGE> PAGE 5
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 N
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 0
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.3
062 F000000 0.0
<PAGE> PAGE 6
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 147.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 12.6
064 A000000 Y
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 Y
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
<PAGE> PAGE 7
070 P010000 Y
070 P020000 N
070 Q010000 Y
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 150025
071 B000000 146355
071 C000000 689069
071 D000000 21
072 A000000 12
072 B000000 42075
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 2458
072 G000000 492
072 H000000 0
072 I000000 60
072 J000000 140
072 K000000 0
072 L000000 200
072 M000000 66
072 N000000 0
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 32
072 S000000 50
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 958
072 X000000 4456
072 Y000000 0
072 Z000000 37619
072AA000000 1392486
072BB000000 1025946
072CC010000 0
072CC020000 63417
072DD010000 27928
072DD020000 0
072EE000000 0
073 A010000 0.6150
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.1447
074 A000000 81
074 B000000 0
074 C000000 1300
074 D000000 666388
<PAGE> PAGE 8
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 11581
074 M000000 90
074 N000000 679440
074 O000000 0
074 P000000 233
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 800
074 S000000 225000
074 T000000 453407
074 U010000 45411
074 U020000 0
074 V010000 9.98
074 V020000 0.00
074 W000000 0.0000
074 X000000 2558
074 Y000000 0
075 A000000 0
075 B000000 475529
076 000000 9.25
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 Y
077 Q030000 N
078 000000 N
080 A000000 VIGILANT INSURANCE COMPANY
080 C000000 16500
<PAGE> PAGE 9
081 A000000 Y
081 B000000 23
082 A000000 Y
082 B000000 25
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
087 A010000 COMMON STOCK
087 A020000 092514108
087 A030000 BMN
087 B010000 PREF. STOCK
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 Y
SIGNATURE HENRY GABBAY
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000877358
<NAME> THE BLACKROCK MUNICIPAL TARGET TERM TRUST INC.
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 648,637,081
<INVESTMENTS-AT-VALUE> 667,687,068
<RECEIVABLES> 11,581,218
<ASSETS-OTHER> 171,395
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 679,439,681
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,032,737
<TOTAL-LIABILITIES> 1,032,737
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 421,573,491
<SHARES-COMMON-STOCK> 45,410,639
<SHARES-COMMON-PRIOR> 45,410,639
<ACCUMULATED-NII-CURRENT> 12,579,961
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 203,505
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 19,049,987
<NET-ASSETS> 453,406,944
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 42,075,340
<OTHER-INCOME> 0
<EXPENSES-NET> 4,456,562
<NET-INVESTMENT-INCOME> 37,618,778
<REALIZED-GAINS-CURRENT> 366,539
<APPREC-INCREASE-CURRENT> (63,417,101)
<NET-CHANGE-FROM-OPS> (25,431,784)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (34,499,921)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (59,931,705)
<ACCUMULATED-NII-PRIOR> 9,461,104
<ACCUMULATED-GAINS-PRIOR> (163,034)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,456,562
<AVERAGE-NET-ASSETS> 475,529,000
<PER-SHARE-NAV-BEGIN> 11.30
<PER-SHARE-NII> 0.83
<PER-SHARE-GAIN-APPREC> (1.39)
<PER-SHARE-DIVIDEND> (0.76)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.98
<EXPENSE-RATIO> 0.94
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
For fiscal period ended (a) December 31, 1994
File number (c) 811-6355
SUB-ITEM 77C
Submission of Matters to a Vote of Security Holders
A Special Meeting of Stockholders was called for June 22, 1994, adjourned
and held on July 13, 1994. At such meeting the shareholders voted on the
following proposal:
(a) approval or disapproval of a proposed Amendment to add flexibility to the
provisions of the Trust's Auction Rate Municipal Preferred Stock to permit the
Trust to accept variable rate bids for extended dividend periods, to modify
voting rights of the common stock and Auction Rate Municipal Preferred Stock,
with respect to certain matters affecting the Trust's preferred stock so that
a
vote of stockholders is not required to issue parity preferred stock and to make
other changes to facilitate the foregoing.
Affirmative Negative
votes cast votes cast
6,087,203 196,819
For the year ended December 31, 1994
File No. 811-6355
SUB-ITEM 77Q2
The information called for by Item 405 of Regulation S-K [17CFR 229.405]
is
set forth below.
Based upon a review of the forms of beneficial ownership submitted to the
Fund for the year ended December 31, 1994, reports of beneficial ownership with
respect to the Fund's shares inadvertently were not filed on a timely basis on
behalf of the following persons:
No. of Late No. of
Name Reports Transactions
Robert S. Kapito 1 1
(Officer of the Trust)
To the Shareholders and Board of Directors of
The BlackRock Municipal Target Term Trust Inc.:
In planning and performing our audit of the financial statements of The
BlackRock Municipal Target Term Trust Inc. for the year ended December 31, 1994,
we considered its internal control structure, including procedures 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
structure.
The management of The BlackRock Municipal Target Term Trust Inc. is responsible
for establishing and maintaining an internal control structure. In fulfilling
this responsibility, estimates and judgments by management are required to
assess the expected benefits and related costs of internal control structure
policies and procedures. Two of the objectives of an internal control structure
are to provide management with reasonable, but not absolute, assurance that
assets are safeguarded against loss from unauthorized use or disposition and
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and may not be detected. Also, projection of any
evaluation of the structure 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 structure would not necessarily
disclose all matters in the internal control structure 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 the specific internal control structure elements 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 structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1994.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
Deloitte & Touche LLP
New York, New York
February 16, 1995
