Exhibit 1(l)

                          MERRILL LYNCH BOND FUND, INC.

                              ARTICLES OF AMENDMENT

                        TO THE ARTICLES OF INCORPORATION

            MERRILL  LYNCH  MUNICIPAL  BOND FUND,  INC., a Maryland  corporation
having its principal Maryland office c/o The Corporation Trust Incorporated,  32
South Street,  Baltimore Maryland 21202 (hereinafter  called the "Corporation"),
hereby certifies to the State Department of Assessments and Taxation of Maryland
that:

      FIRST:  The  charter of the  Corporation  is hereby  amended by adding the
following provision at the end of Article V:

      8. The Board of Directors may classify and reclassify any issued shares of
capital  stock into one or more  additional or other classes or series as may be
established from time to time by setting or changing in any one or more respects
the  designations,  preferences,  conversion  or other  rights,  voting  powers,
restrictions, limitations as to dividends, qualifications or terms or conditions
of  redemption  of such shares of stock and pursuant to such  classification  or
reclassification  to increase or decrease the number of authorized shares of any
existing class or series;  provided,  however,  that any such  classification or
reclassification shall not substantially  adversely affect the rights of holders
of such issued shares.  The Board's  authority  pursuant to this paragraph shall
include,  but not be limited  to,  the power to vary among all the  holders of a
particular  class or series (a) the length of time  shares must be held prior to
reclassification to shares of another class or series (the "Holding Period(s)"),
(b) the manner in which the time for such Holding  Period(s) is  determined  and
(c) the  class or series  into  which  the  particular  class or series is being
reclassified;  provided,  however,  that,  subject to the first sentence of this
section,  with respect to holders of the Corporation's shares issued on or after
the date of the  Corporation's  first  effective  prospectus  which  sets  forth
Holding  Period(s)  (the  "First  Holding  Period   Prospectus"),   the  Holding
Period(s), the manner in which the time for such Holding Period(s) is determined
and the  class or series  into  which  the  particular  class or series is being
reclassified shall be disclosed in the Corporation's  prospectus or statement of
additional  information in effect at the time such shares, which are the subject
of the reclassification,  were issued; and provided,  further,  that, subject to
the first sentence or this section, with respect to holders of the Corporation's
Class B  shares  issued  prior to the date of the  Corporation's  First  Holding
Period  Prospectus,  the Holding  Period shall be ten (10) years for  retirement
plan (as  recognized by the Internal  Revenue Code of 1986, as amended from time
to time)  holders  of  issued  Class B shares  purchased  without  a  contingent
deferred sales charge (a "CDSC-Waived Retirement Plan") and shall be the Holding
Period set forth in the Corporation's  First Holding Period Prospectus,  for all
other  holders of issued  Class B shares;  Class B shares held by a  CDSC-Waived
Retirement  Plan shall be  reclassified to Class D shares in the month following
the month in which the first Class B share of any mutual fund advised by Merrill
Lynch Asset Management,  L.P., Fund Asset Management, L.P., or their affiliates,
or successors,  held by such  CDSC-Waived  Retirement Plan has been held for the
ten (10) year Holding Period established by the Corporation's Board of Directors
for such CDSC-Waived Retirement Plan Class B shareholder; and the Class B shares
of  every  shareholder   other  than  CDSC-Waived   Retirement  Plans  shall  be
reclassified  to Class D shares in the month  following  the month in which such



shares have been held for the Holding Period  established  by the  Corporation's
Board of Directors for shareholders  other than CDSC-Waived  Retirement Plans in
the Corporation's First Holding Period Prospectus.

            SECOND:  The foregoing  Articles of Amendment  have been effected in
the manner and by the vote required by the Corporation's charter and the laws of
the State of Maryland.  Pursuant to Section  2-604 of the Maryland  Corporations
and  Associations  Code,  the amendment was advised by the Board of Directors of
the Corporation and approved by the stockholders.

            THIRD:  Except as amended hereby,  the  Corporation's  charter shall
remain in full force and effect.

            FOURTH: The authorized capital stock of the Corporation has not been
increased by these Articles of Amendment.

            FIFTH:  These  Articles of Amendment  shall be effective at the very
beginning of the day on October 21, 1994.

            The  President  acknowledges  these  Articles of Amendment to be the
corporate act of the  Corporation  and states that to the best of his knowledge,
information  and belief,  the matters set forth in these  Articles of  Amendment
with  respect  to  the  authorization  and  approval  of  the  amendment  of the
Corporation's charter are true in all material respects, and that this statement
is made under the penalties for perjury.


                                       2


            IN WITNESS  WHEREOF,  MERRILL LYNCH  MUNICIPAL  BOND FUND,  INC. has
caused these Articles of Amendment to be signed in its name and on its behalf by
its President, a duly authorized officer of the Corporation, and attested by its
Secretary as of the 18th day of October, 1994.

                                               MERRILL LYNCH MUNICIPAL BOND
                                               FUND, INC.


                                               By: /s/ Arthur Zeikel
                                                   ----------------------------
                                                   Arthur Zeikel
                                                   President
Attest:


/s/ Mark B. Goldfus
---------------------------
Mark B. Goldfus
Secretary


                                       3