UNITED STATES
 SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number:

       811-21050

   

 

BlackRock New Jersey Municipal Bond Trust
(Exact name of registrant as specified in charter)

 

100 Bellevue Parkway, Wilmington, DE
19809
(Address of principal executive offices)
(Zip code)

 

Robert S. Kapito, President
 BlackRock New Jersey Municipal Bond Trust

 40 East 52nd Street, New York, NY 10022
(Name and address of agent for service)

 

Registrant's telephone number, including area code:        888-825-2257
 
Date of fiscal year end: August 31
 
Date of reporting period: November 30, 2004
 
   

 

Item 1. Schedule of Investments.

The registrant's unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:

 

PORTFOLIO OF INVESTMENTS
NOVEMBER 30, 2004 (Unaudited)

BlackRock New Jersey Municipal Bond Trust (BLJ)

  Principal        
  Amount   Option Call    
Rating1 (000) 
Description
Provisions2    Value  
 
      LONG-TERM INVESTMENTS—153.9%     
        New Jersey—126.9%     
AAA   $ 4,000   Garden St. Pres. Trust, Open Space & Farmland Pres., Ser. B, Zero Coupon, 11/01/27, FSA No Opt. Call   $ 1,250,480  
        New Jersey Econ. Dev. Auth.,     
BBB   2,000         Cigarette Tax Rev., 5.75%, 6/15/34 06/14 @ 100   2,030,760  
B   2,335         Continental Airlines, Inc. Proj., 7.00%, 11/15/30 11/10 @ 101   1,864,894  
BBB-   2,000         Fellowship Vlg. Proj., Ser. A, 5.50%, 1/01/25 01/08 @ 102   1,987,680  
Baa3   2,250         Kapkowski Road Landfill Proj., 6.50%, 4/01/28 No Opt. Call   2,544,300  
BBB   1,000         Sld. Wst. Rev., Disp. Wst. Mgmt., Ser. A, 5.30%, 6/01/15 No Opt. Call   1,038,360  
Aaa   1,750         Victoria Hlth. Proj., Ser. A, 5.20%, 12/20/36 12/11 @ 103   1,816,553  
BBB-   2,500         Winchester Proj., Ser. A, 5.80%, 11/01/31 11/14 @ 100   2,558,000  
        New Jersey Edl. Facs. Auth.,     
BBB-   500         Fairleigh Dickinson Univ. Proj., Ser. C, 5.50%, 7/01/23 07/14 @ 100   513,460  
BBB-   1,000         Fairleigh Dickinson Univ. Proj., Ser. C, 6.00%, 7/01/20 07/14 @ 100   1,072,960  
BBB-   1,000         Fairleigh Dickinson Univ. Proj., Ser. D, 6.00%, 7/01/25 07/13 @ 100   1,058,290  
BBB+   630         Georgian Court Coll. Proj., Ser. C, 6.50%, 7/01/33 07/13 @ 100   688,798  
        New Jersey Hlth. Care Fac. Fin. Auth.,  
A   2,000         Atlantic City Med. Ctr. Proj., 5.75%, 7/01/25 07/12 @ 100   2,087,160  
A+   2,000         Catholic Hlth. East Proj., Ser. A, 5.375%, 11/15/33 11/12 @ 100   2,035,520  
A3   2,000 3       Kennedy Hlth. Sys. Proj., 5.625%, 7/01/31 07/11 @ 100   2,082,900  
Baa1   2,500         So. Jersey Hosp. Proj., 6.00%, 7/01/32 07/12 @ 100   2,596,875  
AAA   2,250   New Jersey Hsg. & Mtg. Fin. Agcy., Multi-Fam. Hsg. Rev., Ser. A, 5.65%, 5/01/40, AMBAC 11/07 @ 101.5   2,335,478  
        Port Auth. of NY & NJ,  
AAA   1,500         Ser. 125, 5.00%, 4/15/32, FSA 04/12 @ 101   1,523,460  
AAA   2,250         Ser. 126, 5.25%, 5/15/37, FGIC 05/12 @ 101   2,308,927  
Caa2   130         Spec. Oblig., Contl./Eastn. LaGuardia Proj., 9.125%, 12/01/15 12/04 @ 100   130,631  
BBB   7,000   Tobacco Settlement Fin. Corp., 6.125%, 6/01/42 06/12 @ 100   6,414,520  
AAA   1,000   Univ. of Med. & Dentistry, Ser. A, 5.00%, 12/01/31, AMBAC 12/12 @ 100   1,015,140  
        Vineland, GO, MBIA,  
AAA   1,000         5.30%, 5/15/29 05/10 @ 101   1,042,060  
AAA   1,500         5.375%, 5/15/32 05/10 @ 101   1,553,205  
             
 
              43,550,411  
             
 
        Puerto Rico—20.3%  
A-   2,250   Puerto Rico Elec. Pwr. Auth., Ser. 2, 5.25%, 7/01/31 07/12 @ 101   2,315,632  
A   2,100   Puerto Rico Hwy. & Transp. Auth., Ser. D, 5.25%, 7/01/38 07/12 @ 100   2,147,313  
        Puerto Rico Pub. Bldgs. Auth., Gov’t Facs., Ser. D,     
A-   1,685 4       5.25%, 7/01/12 N/A   1,873,804  
A-   615         5.25%, 7/01/27 07/12 @ 100   635,935  
             
 
              6,972,684  
             
 
        Multi-State—6.7%     
Baa1   2,000 5 Charter Mac Equity Issuer Trust, Ser. B-2, 7.20%, 10/31/52 10/14 @ 100   2,279,980  
             
 
        Total Long-Term Investments (cost $51,272,883)     52,803,075  
             
 

1

BlackRock New Jersey Municipal Bond Trust (BLJ) (continued)

           
  Shares               
      (000) 
Description
       Value  
 
        MONEY MARKET FUND—1.6%    
    550   AIM Tax Free Investment Co. Cash Reserve Portfolio (cost $550,000)     $  550,000  
             
 
        Total Investments—155.5% (cost $51,822,883)     $ 53,353,075  
        Other assets in excess of liabilities—3.4%     1,189,126  
        Preferred shares at redemption value, including dividends payable—(58.9)%     (20,225,871)  
             
 
        Net Assets Applicable to Common Shareholders—100%     $ 34,316,330  
             
 

1   Using the higher of S&P’s, Moody’s or Fitch’s rating.
2   Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.
3   Entire or partial principal amount pledged as collateral for financial futures contracts.
4   This bond is prefunded. U.S. government securities, held in escrow, are used to pay interest on this security, as well as retire the bond in full at the date indicated, typically at a premium to par.
5   Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of November 30, 2004, the Trust held 6.7% of its net assets, with a current market value of $2,279,980, in securities restricted as to resale.
 
KEY TO ABBREVIATIONS
  AMBAC — American Municipal Bond Assurance Corporation GO — General Obligation
  FGIC — Financial Guaranty Insurance Company MBIA — Municipal Bond Insurance Association
  FSA — Financial Security Assurance    

2

 

Item 2. Controls and Procedures.

(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrant's disclosure controls and procedures are effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely.

(b) The registrant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

Separate certifications of the registrant's principal executive and financial officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant)     BlackRock New Jersey Municipal Bond Trust
 

 

By: /s/ Henry Gabbay
 
Name: Henry Gabbay
Title: Treasurer
Date: January 20, 2005

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By: /s/ Robert S. Kapito
 
Name: Robert S. Kapito
Title: Principal Executive Officer
Date: January 20, 2005

 

By: /s/ Henry Gabbay
 
Name: Henry Gabbay
Title: Principal Executive Officer
Date: January 20, 2005