@Aaron Digulla and @kementeus solutions are workable.  For Subversion 1.4 repositories, copy/move operations can make future migration to a different repository structure or splitting repositories difficult.
I believe 1.5's improvements include better resolution of move/copy history, so it probably wouldn't be an issue for a 1.5 repository.
For a 1.4 repository, I'd recommend using svnadmin dump and svndumpfilter to perform the movement of the existing trunk elsewhere, then moving the branch to the trunk with the same mechanism.  Load the two dumpfiles into a test repository, verify, then move it to production.
Of course, backup your existing repository before starting.
This preserves history without recording the move/copy explicitly and makes future re-organization, preserving history, easier.
Edit: As requested, the documentation of the 1.4 behavior, from the 1.4 Red-Bean book, Filtering Repository History
Also, copied paths can give you some
  trouble. Subversion supports copy
  operations in the repository, where a
  new path is created by copying some
  already existing path. It is possible
  that at some point in the lifetime of
  your repository, you might have copied
  a file or directory from some location
  that svndumpfilter is excluding, to a
  location that it is including. In
  order to make the dump data
  self-sufficient, svndumpfilter needs
  to still show the addition of the new
  path—including the contents of any
  files created by the copy—and not
  represent that addition as a copy from
  a source that won't exist in your
  filtered dump data stream. But because
  the Subversion repository dump format
  only shows what was changed in each
  revision, the contents of the copy
  source might not be readily available.
  If you suspect that you have any
  copies of this sort in your
  repository, you might want to rethink
  your set of included/excluded paths,
  perhaps including the paths that
  served as sources of your troublesome
  copy operations, too.
This applies to migrations/reorganizations using svndumpfilter.  There are times when a little extra work now can save a lot of extra work later, and by keeping an easy use of svndumpfilter available for future migrations/reorganizations mitigates the risk at a relatively low cost.