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, 2007     
Date of reporting period: 
     May 31, 2007     

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 (unaudited)
MAY 31, 2007
BlackRock Maryland Municipal Bond Trust (BZM)
(Percentages shown are based on Net Assets)

Principal          
Amount    
Option Call
 
(000)
  Description  Provisions1  
Value 
    LONG-TERM INVESTMENTS—157.0% 
   
    Maryland—131.2% 
   
$ 500   Annapolis, Pkg. Fac. Impvts. TA RB, Pk. Place Proj., Ser. A, 5.35%, 7/01/34 
01/15 @ 101 
$  512,770 
2,870   Anne Arundel Cnty., Univ. & Coll. Impvts. RB, Anne Arundel Cmnty. Coll. Proj., 
   
         5.25%, 9/01/28 
09/12 @ 102 
  3,021,651 
    City of Baltimore, 
   
1,000        Pub. Impvts. Tax Incr./Alloc. ST, Harborview Lot No. 2 Proj., 6.50%, 7/01/31 
07/13 @ 101 
  1,085,200 
2,000        Swr. RB, Wstwtr. Proj., Ser. A, 5.125%, 7/01/42, FGIC 
07/12 @ 100 
  2,081,040 
3,500        Swr. RB, Wstwtr. Proj., Ser. A, 5.20%, 7/01/32, FGIC 
07/12 @ 100 
  3,664,780 
1,000   Cmnty. Dev. Admin., St. Sngl.-Fam. Hsg. RB, Ser. D, 4.85%, 9/01/37 
03/17 @ 100 
  988,970 
    Cnty. of Baltimore, 
   
2,000        Ad Valorem Ppty. Tax GO, Met. 67th Dist. Proj., 5.00%, 6/01/22 
06/11 @ 101 
  2,086,240 
1,000        Hlth., Hosp. & Nursing Home RB, Oak Crest Vlg. Proj., Ser. A, 5.00%, 1/01/37 
01/17 @ 100 
  1,010,580 
2,000        SA GO, Met. 68th Dist. Proj., 5.00%, 8/01/28 
08/12 @ 100 
  2,070,680 
500   Cnty. of Howard, Hlth., Hosp. & Nursing Home RB, Vantage House Fac. Proj., 
   
         Ser. A, 5.25%, 4/01/33 
04/17 @ 100 
  510,360 
    Cnty. of Montgomery, Trans. Impvts. Lease Abatement RB, Metrorail Garage 
   
         Proj., 
   
500        5.00%, 6/01/23 
06/12 @ 100 
  518,785 
1,435        5.00%, 6/01/24 
06/12 @ 100 
  1,488,913 
1,500  
Cnty. of Prince Georges, Port, Arpt. & Marina Impvts. ST SO, 5.20%, 7/01/34 
07/15 @ 100 
  1,526,670 
1,000   Frederick Cnty., Pub. Impvts. ST, Urbana Cmnty. Dev. Auth. Proj., 6.625%, 
   
         7/01/25 
07/07 @ 102 
  1,021,530 
    Hlth. & Higher Edl. Facs. Auth., 
   
2,000        Coll. & Univ. RB, Johns Hopkins Univ. Proj., Ser. B, 5.00%, 7/01/41 
07/11 @ 100 
  2,039,080 
2,000        Hlth., Hosp. & Nursing Home Impvts. RB, Univ. of Maryland Med. Sys. Proj., 
   
         5.25%, 7/01/34 
07/11 @ 100 
  2,041,100 
1,990        Hlth., Hosp. & Nursing Home Impvts. RB, Carroll Cnty. Gen. Hosp. Proj., 
   
         6.00%, 7/01/37 
07/12 @ 100 
  2,131,668 
500        Hlth., Hosp. & Nursing Home Impvts. RB, King Farm Presbyterian Cmnty. 
   
         Proj., 5.00%, 1/01/17 
01/09 @ 100 
  501,705 
2,000        Hlth., Hosp. & Nursing Home Impvts. RB, Union Hosp. of Cecil Cnty. Proj., 
   
         5.625%, 7/01/32 
07/12 @ 100 
  2,107,640 
2,000        Pub. Impvts. Misc. RB, Brd. of Child Care Proj., 5.375%, 7/01/32 
07/12 @ 100 
  2,072,220 
2,000        Univ. & Coll. Impvts. RB, Loyola Coll. Issue Proj., 5.00%, 10/01/39 
10/09 @ 101 
  2,036,080 
    Indl. Dev. Fin. Auth., 
   
1,000        Private Primary Sch. RB, Our Lady of Good Counsel Sch. Proj., Ser. A, 6.00%, 
   
         5/01/35 
05/15 @ 100 
  1,070,740 
1,905        Recreational Fac. Impvts. RB, Nat. Aquarium Baltimore Fac. Proj., Ser. B, 
   
         5.20%, 11/01/26 
11/12 @ 100 
  1,985,315 
    St. Mary's Coll. of Maryland, Univ. & Coll. Impvts. RB, Academic & Auxil. Fees 
   
         Proj., 
   
1,000        Ser. A, 5.00%, 9/01/27, AMBAC 
09/12 @ 101 
  1,041,280 
1,000        Ser. A, 5.00%, 9/01/32, AMBAC 
09/12 @ 101 
  1,041,280 
2,000   Transp. Auth., Port, Arpt. & Marina Impvts. Auto Pkg. RB, Baltimore/Washington 
   
         Intl. Arpt. Proj., Ser. B, 5.125%, 3/01/24, AMBAC, AMT 
03/12 @ 101 
  2,079,420 
     
  41,735,697 
    Multi-State—7.1% 
   
2,0002   Charter Mac Equity Issuer Trust, Ser. B-2, 7.20%, 10/31/52 
10/14 @ 100 
  2,245,740 
    Puerto Rico—18.7% 
   
1,500   Children's Trust Fund, Tobacco Settlement Funded RB, 5.50%, 5/15/39 
05/12 @ 100 
  1,571,565 
2,0603   Elec. Pwr. Auth., Elec., Pwr. & Lt. Impvts. RB, Ser. HH, 5.25%, 7/01/10, FSA 
N/A
  2,168,109 
1,7503  
Hwy. & Transp. Auth., Hwy. Impvts. Hwy. Tolls RB, Ser. D, 5.25%, 7/01/12 
N/A
  1,860,425 

1

BlackRock Maryland Municipal Bond Trust (BZM) (continued)
(Percentages shown are based on Net Assets)

Principal            
Amount    
Option Call
     
(000)
  Description  Provisions1  
Value
 
    Puerto Rico—(cont'd) 
     
$ 350  
Pub. Bldgs. Auth., Pub. Impvts. Lease RB, Gov't. Facs. Proj., Ser. D, 5.375%, 
     
         7/01/33 
07/12 @ 100 
$  365,865  
     
  5,965,964  
    Total Long-Term Investments (cost $47,288,786) 
  49,947,401  
Shares    
     
(000)
   
     
    MONEY MARKET FUND—0.9% 
     
3004,5   Merrill Lynch Institutional Tax Exempt Fund, 3.60% (cost $300,000) 
N/A
  300,000  
Total Investments—157.9% (cost $47,588,7866) 
$  50,247,401  
Liabilities in excess of other assets—(1.3)% 
  (422,179 ) 
Preferred shares at redemption value, including dividends payable—(56.6)% 
  (18,012,947 ) 
 
Net Assets Applicable to Common Shareholders—100%    $  31,812,275  

__________
1    Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.
 
2    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 May 31, 2007, the Trust held 7.1% of its net assets, with a current market value of $2,245,740, in securities restricted as to resale.
 
3    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.
 
4    Represents current yield as of May 31, 2007.
 
5    Represents an investment in an affiliate.
 
6    Cost for federal income tax purposes is $47,582,462. The net unrealized appreciation on a tax basis is $2,664,939, consisting of $2,687,434 gross unrealized appreciation and $22,495 gross unrealized depreciation.
 
 

KEY TO ABBREVIATIONS

AMBAC 
— 
American Municipal Bond Assurance Corp. 
RB 
— 
Revenue Bond 
AMT 
— 
Subject to Alternative Minimum Tax 
SA 
— 
Special Assessment 
FGIC 
— 
Financial Guaranty Insurance Co. 
SO 
— 
Special Obligation 
FSA 
— 
Financial Security Assurance 
ST 
— 
Special Tax 
GO 
— 
General Obligation 
TA 
— 
Tax Allocation 
 


2

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 principal executive and principal 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/ Donald C. Burke
Name: Donald C. Burke
Title: Treasurer and Principal Financial Officer
Date: July 25, 2007

          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: July 25, 2007
   
By: 
     /s/ Donald C. Burke
Name: Donald C. Burke
Title: Treasurer and Principal Financial Officer
Date: July 25, 2007