This paper develops — within an axiomatic theory of properties, relations, and propositions which accords them well-defined existence and identity conditions — a sententialist-functionalist account of belief as a symbolically mediated relation to a special kind of propositional entity, theproxy-encoding abstract proposition. It is then shown how, in terms of this account, the truth conditions of English belief reports may be captured in a formally precise and empirically adequate way that accords genuinely semantic status to familiar opacity data.