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:     811-21051          

          BlackRock Maryland 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 Maryland 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, 2006
Date of reporting period:   November 30, 2005

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, 2005 (Unaudited)

BlackRock Maryland Municipal Bond Trust (BZM)

      Principal            
        Amount       Option Call    
    Rating1   (000)   Description   Provisions2   Value  
          LONG-TERM INVESTMENTS—153.0%        
            Maryland—121.0%        
    NR   $  500   Annapolis Spl. Oblig., Park Place Proj., Ser. A, 5.35%, 7/01/34   01/15 @ 101   $      501,705  
    A3   2,870   Anne Arundel Cnty. Econ. Dev. Cmnty. Coll. Proj., 5.25%, 9/01/28   09/12 @ 102   3,038,785  
            Baltimore Cnty., GO,        
    AAA   2,000 3          Met 67th Dist., 5.00%, 6/01/22   06/11 @ 101   2,113,780  
    AAA   2,000 4     Met 68th Dist., 5.00%, 8/01/28   N/A   2,086,060  
    NR   1,000   Baltimore Spec. Oblig. Rev., Harborview Lot No. 2 Proj., 6.50%, 7/01/31   07/13 @ 101   1,046,960  
            Baltimore Wstwtr. Proj.,        
    AAA   2,000       Ser. A, 5.125%, 7/01/42, FGIC   07/12 @ 100   2,069,220  
    AAA   3,500       Ser. A, 5.20%, 7/01/32, FGIC   07/12 @ 100   3,690,855  
    NR   1,000   Frederick Cnty., Urbana Cmnty. Dev. Auth. Proj., 6.625%, 7/01/25   07/07 @ 102   1,038,110  
            Hlth. & Higher Edl. Facs. Auth.,        
    A   2,000       Brd. of Child Care Proj., 5.375%, 7/01/32   07/12 @ 100   2,110,180  
    BBB+   1,990       Carroll Cnty. Gen. Hosp. Proj., 6.00%, 7/01/37   07/12 @ 100   2,108,206  
    AA   2,000       Johns Hopkins Univ. Proj., Ser. B, 5.00%, 7/01/41   07/11 @ 100   2,047,740  
    A   2,000       Loyola Coll. Issue Proj., 5.00%, 10/01/39   10/09 @ 101   2,035,840  
    A   2,000       Union Hosp. of Cecil Cnty. Proj., 5.625%, 7/01/32   07/12 @ 100   2,091,980  
    A+   2,000       Univ. of Maryland Med. Sys. Proj., 5.25%, 7/01/34   07/11 @ 100   2,052,320  
            Indl. Dev. Fin. Auth.,        
    NR   1,000       6.00%, 5/01/35   05/15 @ 100   1,015,620  
    A+   1,905       Econ. Dev. Rev., Nat. Aquarium Baltimore Fac. Proj., Ser. B, 5.20%, 11/01/26   11/12 @ 100   1,992,516  
            Montgomery Cnty. Lease, Metrorail Garage Proj.,        
    AA   500       5.00%, 6/01/23   06/12 @ 100   524,540  
    AA   1,435       5.00%, 6/01/24   06/12 @ 100   1,502,100  
    NR   1,500   Prince Georges Cnty., 5.20%, 7/01/34   07/15 @ 100   1,491,765  
            St. Marys Coll., Academic & Auxil. Fees,        
    AAA   1,000       Ser. A, 5.00%, 9/01/27, AMBAC   09/12 @ 101   1,044,930  
    AAA   1,000       Ser. A, 5.00%, 9/01/32, AMBAC   09/12 @ 101   1,036,930  
    AAA   2,000   Transp. Auth., Arpt. Pkg. Rev., Baltimore/Wash Intl. Arpt., Ser. B, 5.125%, 3/01/24, AMBAC          03/12 @ 101   2,068,420  
                    38,708,562  
            Multi-State—7.1%        
    Baa1   2,000 5 Charter Mac Equity Issuer Trust, Ser. B-2, 7.20%, 10/31/52   10/14 @ 100   2,265,340  
            Puerto Rico—24.9%        
    BBB   2,000   Children’s Trust Fund Tobacco Settlement Rev., 5.50%, 5/15/39   05/12 @ 100   2,022,300  
    AAA   2,060   Elec. Pwr. Auth., Ser. HH, 5.25%, 7/01/29, FSA   07/10 @ 101   2,197,999  
    AAA   2,000 4 Hwy. & Transp. Auth., Ser. D, 5.25%, 7/01/12   N/A   2,175,680  
            Pub. Bldgs. Auth., Gov’t. Facs.,        
    A-   1,100 4     Ser. D, 5.375%, 7/01/12   N/A   1,204,577  
    BBB   350       Ser. D, 5.375%, 7/01/33   07/12 @ 100   362,212  
                    7,962,768  
            Total Long-Term Investments (cost $46,060,577)       48,936,670  
            Total Investments—153.0% (cost $46,060,577) 6       $ 48,936,670  
            Other assets in excess of liabilities—3.3%       1,041,300  
            Preferred shares at redemption value, including dividends payable—(56.3)%       (18,007,351)  
            Net Assets Applicable to Common Shareholders—100%       $ 31,970,619  
 

1   Using the higher of Standard & Poor’s, Moody’s Investors Service or Fitch Ratings 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   Security, or a portion thereof, pledged as collateral with a value of $211,378 on 33 U.S. Treasury Note futures contracts expiring December 2005, 25 U.S. Treasury Note futures contracts expiring March 2006 and 22 U.S. Treasury Bond futures contracts expiring March 2006. The value of such contracts on November 30, 2005 was $8,766,203, with an unrealized gain of $111,167.  
4   This bond is prerefunded. 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, 2005, the Trust held 7.1% of its net assets, with a current market value of $2,265,340, in securities restricted as to resale.  
6   Cost for Federal tax purposes is $46,055,637. The net unrealized appreciation on a tax basis is $2,881,033, consisting of $2,889,268 gross unrealized appreciation and $8,235 gross unrealized depreciation. 

KEY TO ABBREVIATIONS

AMBAC   — American Municipal Bond Assurance Corp.   FSA   — Financial Security Assurance
FGIC   — Financial Guaranty Insurance Co.   GO   — General Obligation
             

1

Item 2. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have evaluated the Registrant's disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s management , including its principle executive and principle financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a -3(d)) that occurred during the Registrant's last fiscal quarter that have materially affected, or are 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 Maryland Municipal Bond Trust     

By:     /s/ Henry Gabbay                                                                                                                   
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: January 25, 2006

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: President and Principal Executive Officer
Date: January 25, 2006

By:     /s/ Henry Gabbay                                                                                                                   
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: January 25, 2006