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<PAGE> PAGE 2
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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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 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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SIGNATURE JULIAN SLUYTERS
TITLE SR. V.P./TREASURER
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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</TABLE>
For period ending December 31, 1995 Exhibit 77C
File Number 811-7104
Mitchell Hutchins/Kidder, Peabody Municipal Bond Fund
(a series of Mitchell Hutchins/Kidder, Peabody Investment Trust II)
A special meeting of shareholders was held on October 27, 1995,
at which the following proposal was approved:
Shares For Voted
Shares For as a % of Total Shares Outstanding
Shares Against
Shares Abstaining
To vote for or against the approval of an Agreement and Plan of
Reorganization and Termination between PaineWebber National
Tax-Free Income Fund and the Fund.
567,953
53%
0
6,403
