EX-99.77B ACCT LTTR

                                                                   SUB-ITEM 77B

             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Trustees and Shareholders of Invesco Van Kampen Municipal
Opportunity Trust:

In planning and performing our audits of the financial statements of Invesco Van
Kampen Municipal Opportunity Trust (hereafter referred to as the "Trust") as of
and for the period ended February 29, 2012, in accordance with the standards of
the Public Company Accounting Oversight Board (United States), we considered the
Trust's internal control over financial reporting, including controls over
safeguarding securities, as a basis for designing our auditing procedures for
the purpose of expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, but not for the purpose of expressing an
opinion on the effectiveness of the Trust's internal control over financial
reporting. Accordingly, we do not express an opinion on the effectiveness of the
Trust's internal control over financial reporting.

The management of the Trust is responsible for establishing and maintaining
effective internal control over financial reporting. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of controls. A fund's internal control over
financial reporting is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted
accounting principles. A fund's internal control over financial reporting
includes those policies and procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the fund; (2) provide reasonable
assurance that transactions are recorded as necessary to permit preparation of
financial statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the fund are being made only
in accordance with authorizations of management and trustees of the fund; and
(3) provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use or disposition of a fund's assets that could have
a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting
may not prevent or detect misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design
or operation of a control does not allow management or employees, in the normal
course of performing their assigned functions, to prevent or detect
misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial reporting, such
that there is a reasonable possibility that a material misstatement of the
Trust's annual or interim financial statements will not be prevented or detected
on a timely basis.

Our consideration of the Trust's internal control over financial reporting was
for the limited purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal control over financial
reporting that might be material weaknesses under standards established by the
Public Company Accounting Oversight Board (United States). However, we noted no
deficiencies in the Trust's internal control over financial reporting and its
operation, including controls over safeguarding securities that we consider to
be material weaknesses as defined above as of February 29, 2012.



This report is intended solely for the information and use of management and the
Board of Trustees of the Trust and the Securities and Exchange Commission and is
not intended to be and should not be used by anyone other than these specified
parties.

PricewaterhouseCoopers LLP
Houston, TX
April 23, 2012

                                        2

EX-99.77E LEGAL

                                                                   SUB-ITEM 77E
                 INVESCO VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST

                                LEGAL PROCEEDINGS

Clifford T. Rotz, Jr., et. al. v. Van Kampen Asset Management, et. al.

On January 17, 2011, a Consolidated Amended Shareholder Derivative Complaint was
filed on behalf of (1) Invesco Van Kampen Advantage Municipal Income Trust II;
(2) Invesco Van Kampen Municipal Opportunity Trust; (3) Invesco Van Kampen
Municipal Trust; (4) Invesco Van Kampen High Income Trust II; (5) Invesco Van
Kampen Senior Income Trust (the "Trusts") against Van Kampen Asset Management,
Morgan Stanley, and certain current and former officers and employees
(collectively, the "Defendants"). The Plaintiffs alleged that Defendants
breached their fiduciary duties to common shareholders by causing the Trusts to
redeem Auction Rate Preferred Securities ("ARPS") at their liquidation value,
which was at a discount from market value, and by not having adequate procedures
to deal with potential conflicts of interest. The Plaintiffs alleged that the
redemption of the ARPS wasted Trust assets, occurred at the expense of the
Trusts and the common shareholders, and was improperly motivated to benefit
preferred shareholders and Defendants. Additionally, the Plaintiffs claimed that
the ARPS were replaced with less favorable financing. Plaintiffs seek judgment
that: 1) orders Defendants to refrain from redeeming any ARPS at their
liquidation value using Trusts assets; 2) awards monetary damages against all
Defendants, individually, jointly or severally, in favor of the Trusts, for all
losses and damages allegedly suffered as a result of the redemptions of ARPS at
their liquidation value; 3) grants appropriate equitable relief to remedy the
Defendants' alleged breaches of fiduciary duties; and 4) awards to Plaintiffs
the costs and disbursements of the action. On August 10, 2010, the Board of
Trustees formed a Special Litigation Committee ("SLC") to investigate the made
in the April 2010 demand letters with the assistance of independent counsel.
After reviewing the findings of the SLC's, the Board announced on June 24, 2011,
that it had adopted the SLC's recommendation to seek dismissal of the lawsuit.
The Trusts filed a motion to dismiss on October 4, 2011, which remains pending.
Plaintiffs filed a motion on November 28, 2011 asking the court to hold the
motion to dismiss in abeyance while plaintiffs conduct limited discovery. The
Plaintiffs' request for discovery has been briefed and the court's decision
whether Plaintiffs are entitled to discovery is pending. This matter is pending.

Management of Invesco and the Trust believe that the outcome of the proceedings
described above will not have a material adverse effect on the Trust or on the
ability of Invesco to provide ongoing services to the Trust.

EX-99.77Q1 OTHR EXHB

                                                                SUB-ITEM 77Q1(E)
                            MEMORANDUM OF AGREEMENT
                             (EXPENSE LIMITATIONS)

     This Memorandum of Agreement is entered into as of the Effective Date on
the attached exhibit (the "Exhibit"), between Invesco Van Kampen Advantage
Municipal Income Trust II, Invesco Van Kampen Bond Fund, Invesco Van Kampen
California Value Municipal Income Trust, Invesco Van Kampen Dynamic Credit
Opportunities Fund, Invesco Van Kampen Exchange Fund, Invesco Van Kampen High
Income Trust II, Invesco Van Kampen Massachusetts Value Municipal Income Trust,
Invesco Van Kampen Municipal Opportunity Trust, Invesco Van Kampen Municipal
Trust, Invesco Van Kampen Ohio Quality Municipal Trust, Invesco Van Kampen
Pennsylvania Value Municipal Income Trust, Invesco Van Kampen Select Sector
Municipal Trust, Invesco Van Kampen Senior Income Trust, Invesco Van Kampen
Senior Loan Fund, Invesco Van Kampen Trust for Insured Municipals, Invesco Van
Kampen Trust for Investment Grade Municipals, Invesco Van Kampen Trust for
Investment Grade New Jersey Municipals and Invesco Van Kampen Trust for
Investment Grade New York Municipals (each a "Registrant" or, collectively, the
"Registrants"), on behalf of the funds listed on the Exhibit to this Memorandum
of Agreement (the "Funds"), and Invesco Advisers, Inc. ("Invesco").  Invesco
shall and hereby agrees to waive fees or reimburse expenses of each Fund, on
behalf of its respective classes as applicable, severally and not jointly, as
indicated in the attached Exhibit.

     For and in consideration of the mutual terms and agreements set forth
herein and other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Registrants and Invesco agree as follows:

     For the Contractual Limits (listed in Exhibit A), the Registrants and
Invesco agree until at least the expiration date set forth on the attached
Exhibit A (the "Expiration Date") that Invesco will waive its fees or reimburse
expenses to the extent that total annual fund operating expenses after fee
waiver and/or expense reimbursement of a class of a Fund (excluding (i)
interest; (ii) taxes; (iii) dividend expense on short sales; (iv) extraordinary
or non-routine items; (v) expenses that each Fund has incurred but did not
actually pay because of an expense offset arrangement, if applicable) exceed the
rate, on an annualized basis, set forth on the Exhibit of the average daily net
assets allocable to such class.   Acquired fund fees and expenses are not fees
or expenses incurred by a fund directly but are expenses of the investment
companies in which a fund invests.  These fees and expenses are incurred
indirectly through the valuation of a fund's investment in these investment
companies.  Acquired fund fees and expenses are required to be disclosed and
included in the total annual fund operating expenses in the prospectus fee
table.  As a result, the net total annual fund operating expenses shown in the
prospectus fee table may exceed the expense limits reflected in Exhibit A.  With
regard to the Contractual Limits, the Boards of Trustees, and with respect to
Invesco Van Kampen Exchange Fund, the Managing General Partners, of the
Registrants and Invesco may terminate or modify this Memorandum of Agreement
prior to the Expiration Date only by mutual written consent.  Invesco will not
have any right to reimbursement of any amount so waived or reimbursed.

     For the Contractual Limits, each of the Registrants and Invesco agree to
review the then-current expense limitations for each class of each Fund listed
on the Exhibit on a date prior to the Expiration Date to determine whether such
limitations should be amended, continued or terminated.  The expense limitations
will expire upon the Expiration Date unless the Registrants and Invesco have
agreed to continue them.  The Exhibit will be amended to reflect any such
agreement.

     It is expressly agreed that the obligations of each Registrant hereunder
shall not be binding upon any of the Trustees/Managing General Partners,
shareholders, partners, nominees, officers, agents or employees of the
Registrants personally, but shall only bind the assets and property of each
Fund, as provided in each Registrant's Agreement and Declaration of Trust or
Certificate of Limited Partnership.  The execution and delivery of this
Memorandum of Agreement have been authorized by the Trustees of the Registrants,
and this Memorandum of Agreement has been executed and delivered by an
authorized officer of the Registrants acting as such; neither such authorization
by such Trustees/Managing General Partners nor such execution and delivery by
such officer shall be deemed to have been made by any of them individually or to
impose any liability on any of them personally, but shall bind only the assets
and property of the Funds, as provided in each Trust's Agreement and Declaration
of Trust or Certificate of Limited Partnership.



     IN WITNESS WHEREOF, each of the Registrants and Invesco have entered into
this Memorandum of Agreement as of the Effective Dates on the attached Exhibit.

          INVESCO VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST II
          INVESCO VAN KAMPEN BOND FUND
          INVESCO VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME TRUST
          INVESCO VAN KAMPEN DYNAMIC CREDIT OPPORTUNITIES FUND
          INVESCO VAN KAMPEN EXCHANGE FUND
          INVESCO VAN KAMPEN HIGH INCOME TRUST II
          INVESCO VAN KAMPEN MASSACHUSETTS VALUE MUNICIPAL INCOME TRUST
          INVESCO VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST
          INVESCO VAN KAMPEN MUNICIPAL TRUST
          INVESCO VAN KAMPEN OHIO QUALITY MUNICIPAL TRUST
          INVESCO VAN KAMPEN PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST
          INVESCO VAN KAMPEN SELECT SECTOR MUNICIPAL TRUST
          INVESCO VAN KAMPEN SENIOR INCOME TRUST
          INVESCO VAN KAMPEN SENIOR LOAN FUND
          INVESCO VAN KAMPEN TRUST FOR INSURED MUNICIPALS
          INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE MUNICIPALS
          INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW JERSEY MUNICIPALS
          INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW YORK MUNICIPALS
          on behalf of the Funds listed in the Exhibit to this Memorandum of
          Agreement

          By: /s/ John M. Zerr
              ------------------------------------
              Title: Senior Vice President

          INVESCO ADVISERS, INC.

          By: /s/ John M. Zerr
              ------------------------------------
              Title: Senior Vice President

                                       2


                                                              as of June 6, 2011

                          EXHIBIT "A" - RETAIL FUNDS(1)

              INVESCO VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST



                                              CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                                           VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
-------------------------------------------   ------------   -----------   -----------------   ----------
                                                                                   
Invesco VK Advantage Municipal Income Trust   Contractual          1.05%   June 1, 2010        June 30, 2012


                          INVESCO VAN KAMPEN BOND FUND



                       CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                    VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
--------------------   ------------   -----------   -----------------   ----------
                                                            
Invesco VK Bond Fund   Contractual          0.58%   June 1, 2010        June 30, 2012


           INVESCO VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME TRUST



                                                CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                                             VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
---------------------------------------------   ------------   -----------   -----------------   ----------
                                                                                     
Invesco VK California Value Muni Income Trust   Contractual          1.05%   June 1, 2010        June 30, 2012


             INVESCO VAN KAMPEN DYNAMICS CREDIT OPPORTUNITIES FUND



                                                CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                                             VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
---------------------------------------------   ------------   -----------   -----------------   ----------
                                                                                     
Invesco VK Dynamics Credit Opportunities Fund   Contractual          2.22%   June 1, 2010        June 30, 2012


                        INVESCO VAN KAMPEN EXCHANGE FUND



                           CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                        VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
------------------------   ------------   -----------   -----------------   ----------
                                                                
Invesco VK Exchange Fund   Contractual          0.52%   June 1, 2010        June 30, 2012


                    INVESCO VAN KAMPEN HIGH INCOME TRUST II



                                  CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                               VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
-------------------------------   ------------   -----------   -----------------   ----------
                                                                       
Invesco VK High Income Trust II   Contractual          2.02%   June 1, 2010        June 30, 2012


         INVESCO VAN KAMPEN MASSACHUSETTES VALUE MUNICIPAL INCOME TRUST



                                                         CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                                                      VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
------------------------------------------------------   ------------   -----------   -----------------   ----------
                                                                                              
Invesco VK Massachusetts Value  Municipal Income Trust   Contractual          1.18%   June 1, 2010        June 30, 2012


                                       3


                                                              as of June 6, 2011

                INVESCO VAN KAMPEN MUNICIPAL OPPORTUNITIES TRUST



                                           CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                                        VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
----------------------------------------   ------------   -----------   -----------------   ----------
                                                                                
Invesco VK Municipal Opportunities Trust   Contractual          1.03%   June 1, 2010        June 30, 2012


                       INVESCO VAN KAMPEN MUNICIPAL TRUST



                             CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                          VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
--------------------------   ------------   -----------   -----------------   ----------
                                                                  
Invesco VK Municipal Trust   Contractual          0.94%   June 1, 2010        June 30, 2012


                INVESCO VAN KAMPEN OHIO QUALITY MUNICIPAL TRUST



                                          CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                                       VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
---------------------------------------   ------------   -----------   -----------------   ----------
                                                                               
Invesco VK Ohio Quality Municipal Trust   Contractual          1.02%   June 1, 2010        June 30, 2012


          INVESCO VAN KAMPEN PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST



                                                       CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                                                    VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
----------------------------------------------------   ------------   -----------   -----------------   ----------
                                                                                            
Invesco VK Pennsylvania Value Municipal Income Trust   Contractual          0.98%   June 1, 2010        June 30, 2012


                INVESCO VAN KAMPEN SELECT SECTOR MUNICIPAL RUST



                                           CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                                        VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
----------------------------------------   ------------   -----------   -----------------   ----------
                                                                                
Invesco VK Select Sector Municipal Trust   Contractual          1.07%   June 1, 2010        June 30, 2012


                     INVESCO VAN KAMPEN SENIOR INCOME TRUST



                                 CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                              VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
------------------------------   ------------   -----------   -----------------   ----------
                                                                      
Invesco VK Senior Income Trust   Contractual          2.07%   June 1, 2010        June 30, 2012


                      INVESCO VAN KAMPEN SENIOR LOAN FUND



                              CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF    EXPIRATION
FUND                           VOLUNTARY     LIMITATION      CURRENT LIMIT         DATE
---------------------------   ------------   -----------   -----------------   -------------
                                                                   
Invesco VK Senior Loan Fund
   Class A                    Contractual        1.32%(2)  June 6, 2011        June 30, 2012
   Class B                    Contractual        2.07%(2)  June 6, 2011        June 30, 2012
   Class C                    Contractual        2.07%(2)  June 6, 2011        June 30, 2012
   Class IB                   Contractual        1.32%     June 6, 2011        June 30, 2012
   Class IC                   Contractual        1.32%(2)  June 6, 2011        June 30, 2012


                                       4


                                                              as of June 6, 2011

                INVESCO VAN KAMPEN TRUST FOR INSURED MUNICIPALS



                                          CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                                       VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
---------------------------------------   ------------   -----------   -----------------   ----------
                                                                               
Invesco VK Trust for Insured Municipals   Contractual          1.10%   June 1, 2010        June 30, 2012


            INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE MUNICIPALS



                                                   CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                                                VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
------------------------------------------------   ------------   -----------   -----------------   ----------
                                                                                        
Invesco VK Trust for Investment Grade Municipals   Contractual          0.99%   June 1, 2010        June 30, 2012


      INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW JERSEY MUNICIPALS



                                                              CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                                                           VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
-----------------------------------------------------------   ------------   -----------   -----------------   ----------
                                                                                                   
Invesco VK Trust for Investment Grade New Jersey Municipals   Contractual          1.08%   June 1, 2010        June 30, 2012


       INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW YORK MUNICIPALS



                                                            CONTRACTUAL/     EXPENSE     EFFECTIVE DATE OF   EXPIRATION
FUND                                                         VOLUNTARY     LIMITATION      CURRENT LIMIT        DATE
---------------------------------------------------------   ------------   -----------   -----------------   ----------
                                                                                                 
Invesco VK Trust for Investment Grade New York Municipals   Contractual          1.02%   June 1, 2010        June 30, 2012


(1)  The total operating expenses of any class of shares established after the
     date of this Memorandum of Agreement will be limited to the amount
     established for Class A Shares plus the difference between the new class
     12b-1 rate and the Class A 12b-1 rate.

(2)  The expense limit shown is the expense limit after Rule 12b-1 fee waivers
     by Invesco Distributors, Inc.

                                       5