EX-99.1(DD) 2 d271468dex991dd.htm ARTICLES SUPPLEMENTARY TO THE ARTICLES OF INCORPORATION. Articles Supplementary to the Articles of Incorporation.

Exhibit 1(dd)

BLACKROCK MUNICIPAL BOND FUND, INC.

ARTICLES SUPPLEMENTARY

BLACKROCK MUNICIPAL BOND FUND, INC., a Maryland corporation (the “Corporation”), hereby certifies to the State Department of Assessments and Taxation of the State of Maryland that:

FIRST: The Corporation is registered as an open-ended company under the Investment Company Act of 1940, as amended, with the authority to issue Seven Billion Five Hundred Twenty-Five Million (7,525,000,000) shares of capital stock as follows:

 

Series and Classes

   Number of Authorized Shares  

BlackRock National Municipal Fund

  

Investor A Common Stock

     800,000,000  

Investor C Common Stock

     375,000,000  

Institutional Common Stock

     800,000,000  

Class K Common Stock

     1,350,000,000  

Service Common Stock

     375,000,000  

BlackRock Short-Term Municipal Fund

  

Investor A Common Stock

     150,000,000  

Investor A1 Common Stock

     150,000,000  

Investor C Common Stock

     150,000,000  

Institutional Common Stock

     150,000,000  

Class K Common Stock

     150,000,000  

Service Common Stock

     150,000,000  

BlackRock High Yield Municipal Fund

  

Investor A Common Stock

     100,000,000  

Investor C Common Stock

     100,000,000  

Institutional Common Stock

     350,000,000  

Class K Common Stock

     2,000,000,000  

Total:

     7,150,000,000  

The remainder of the authorized capital stock of the Corporation, Three Hundred Seventy-Five Million (375,000,000) shares, is not designated as to any class or series. All shares of all classes of the capital stock of the Corporation have a par value of Ten Cents ($0.10) per share and an aggregate par value of Seven Hundred Fifty-Two Million Five Hundred Thousand Dollars ($752,500,000).

SECOND: Pursuant to authority expressly vested in the Board of Directors of the Corporation by Sections 2-105(c) and 2-208.1 of the Maryland General Corporation Law and the Corporation’s charter, the Board of Directors hereby (a) increases the total number of authorized shares of capital stock of the Corporation by Nine Hundred Twenty-Five Million (925,000,000) and (b) designates (i) Three Hundred Million (300,000,000) shares as Investor A Common Stock of BlackRock Impact Municipal Fund (the “New Series”), (ii) Five Hundred Million (500,000,000) shares as Institutional Common Stock


of BlackRock Impact Municipal Fund, and (iii) Five Hundred Million (500,000,000) shares as Class K Common Stock of BlackRock Impact Municipal Fund.

THIRD: After the increase in the number of authorized shares of capital stock of the Corporation and the designation and classification of capital stock of the Corporation set forth herein, the Corporation will have the authority to issue Eight Billion Four Hundred Fifty Million (8,450,000,000) shares of capital stock as follows:

 

Series and Classes

   Number of Authorized Shares  

BlackRock Impact Municipal Fund

  

Investor A Common Stock

     300,000,000  

Institutional Common Stock

     500,000,000  

Class K Common Stock

     500,000,000  

BlackRock National Municipal Fund

  

Investor A Common Stock

     800,000,000  

Investor C Common Stock

     375,000,000  

Institutional Common Stock

     800,000,000  

Class K Common Stock

     1,350,000,000  

Service Common Stock

     375,000,000  

BlackRock Short-Term Municipal Fund

  

Investor A Common Stock

     150,000,000  

Investor A1 Common Stock

     150,000,000  

Investor C Common Stock

     150,000,000  

Institutional Common Stock

     150,000,000  

Class K Common Stock

     150,000,000  

Service Common Stock

     150,000,000  

BlackRock High Yield Municipal Fund

  

Investor A Common Stock

     100,000,000  

Investor C Common Stock

     100,000,000  

Institutional Common Stock

     350,000,000  

Class K Common Stock

     2,000,000,000  

Total:

     8,450,000,000  

All shares of capital stock of the Corporation will have a par value of Ten Cents ($0.10) per share and an aggregate par value of Eight Hundred Forty-Five Million Dollars ($845,000,000).

FOURTH: The Investor A Common Stock, Institutional Common Stock, and Class K Common Stock of the New Series shall represent the same interest in the New Series and have identical preferences, conversion or other rights, voting powers, restrictions, limitations as to

 

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dividends, qualifications or terms or conditions of redemption as the other capital stock of the Corporation, except as otherwise set forth in the Corporation’s charter and further except that:

 

  (a)

expenses related to the shareholder servicing of the shares of the Investor A Common Stock, Institutional Common Stock, and Class K Common Stock of the New Series shall be borne solely by such class and such class shall have exclusive voting rights with respect to matters relating to the expenses being borne solely by such class;

 

  (b)

such shareholder servicing expenses borne solely by the shares of Investor A Common Stock, Institutional Common Stock, and Class K Common Stock of the New Series shall be appropriately reflected (in the manner determined by the Board of Directors of the Corporation) in the net asset value, dividends, distribution, and liquidation rights of the shares of such class; and

 

  (c)

in determining the income attributable to the shares of the Investor A Common Stock, Institutional Common Stock, and Class K Common Stock of the New Series, any general expenses and liabilities of the Corporation allocated by the Board of Directors of the Corporation to the series of the Corporation shall be allocated among all series on the basis of relative net asset values (or on such other basis established by the Board of Directors or officers of the Corporation), and any expenses and liabilities of the Corporation allocated by the Board of Directors of the Corporation to a particular series shall be allocated among the share classes included in such series on the basis of relative net asset values (or on such other basis established by the Board of Directors or officers of the Corporation), except that to the extent permitted by rule or order of the Securities and Exchange Commission, shares shall bear all (1) expenses and liabilities relating to those shares payable under the Corporation’s Distribution and Service Plan with respect to those shares and (2) other expenses and liabilities directly attributable to such shares which the Board of Directors of the Corporation determine should be borne solely by such shares.

FIFTH: These Articles Supplementary shall be effective as of the 30th day of November 2021.

[signatures on the next page]

 

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IN WITNESS WHEREOF, BLACKROCK MUNICIPAL BOND FUND, INC. has caused these Articles Supplementary to be signed in its name and on its behalf by the person named below who acknowledges that these Articles Supplementary are the act of the Corporation and that, as to all matters and facts required to be verified under oath and to the best of his knowledge, information, and belief under the penalties of perjury, the matters and facts set forth herein are true in all material respects, as of this 30 day of November 2021.

 

ATTEST:     BLACKROCK MUNICIPAL BOND FUND, INC.

/s/ Janey Ahn

    By:  

/s/ John M. Perlowski

Janey Ahn       John M. Perlowski
Secretary       President and Chief Executive Officer

 

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