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        <name>Delta County Memorial Hospital District, Colorado, Enterprise Revenue Bonds, Refunding Series 2010</name>
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        <name>University of Colorado, Enterprise System Revenue Bonds, Refunding Series 2017A-2</name>
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        <name>Colorado State, Building Excellent Schools Today, Certificates of Participation, Series 2019O</name>
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      <invstOrSec>
        <name>El Paso County School District 38, Lewis Palmer, Colorado, General Obligation Refunding Bonds, Series 2001</name>
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      <invstOrSec>
        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Christian Living Neighborhoods Project, Refunding Series 2016</name>
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      <invstOrSec>
        <name>Tallyn's Reach Metropolitan District 3, Aurora, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refunding &amp; Improvement </name>
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          <isin value="US87482MBA27"/>
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      <invstOrSec>
        <name>Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds,  Colorado Springs Utilities, Series 2008</name>
        <lei>549300C6IJKXQOMRAB11</lei>
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      <invstOrSec>
        <name>Boulder Valley School District RE2, Boulder County, Colorado, General Obligation Bonds, Series 2019A</name>
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        <title>Boulder Valley School District RE2, Boulder County, Colorado, General Obligation Bonds, Series 2019A</title>
        <cusip>101547WX1</cusip>
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          <isin value="US101547WX19"/>
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      <invstOrSec>
        <name>Colorado State, Certificates of Participation, Rural Series 2018A</name>
        <lei>N/A</lei>
        <title>Colorado State, Certificates of Participation, Rural Series 2018A</title>
        <cusip>196711RJ6</cusip>
        <identifiers>
          <isin value="US196711RJ63"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Colorado Housing and Finance Authority, Single Family Mortgage Bonds, Class I Adjustable Rate Series 2019-D</name>
        <lei>5493005GIROYQAWBMC18</lei>
        <title>Colorado Housing and Finance Authority, Single Family Mortgage Bonds, Class I Adjustable Rate Series 2019-D</title>
        <cusip>1964792G3</cusip>
        <identifiers>
          <isin value="US1964792G32"/>
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        <balance>2500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Variable</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Colorado Water Resources and Power Development Authority, Water Resources Revenue Bonds, Donala Water and Sanitation District Project, Series 2011C</name>
        <lei>N/A</lei>
        <title>Colorado Water Resources and Power Development Authority, Water Resources Revenue Bonds, Donala Water and Sanitation District Project, Series 2011C</title>
        <cusip>19679RQQ6</cusip>
        <identifiers>
          <isin value="US19679RQQ64"/>
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        <balance>500000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>East Cherry Creek Valley Water and Sanitation District, Arapahoe County, Colorado, Water Revenue Bonds, Refunding Series 2020</name>
        <lei>N/A</lei>
        <title>East Cherry Creek Valley Water and Sanitation District, Arapahoe County, Colorado, Water Revenue Bonds, Refunding Series 2020</title>
        <cusip>271579EF7</cusip>
        <identifiers>
          <isin value="US271579EF72"/>
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        <balance>435000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Denver City and County, Colorado, Special Facilities Airport Revenue Bonds, United Airlines, Inc Project, Refunding Series 2017</name>
        <lei>MMTY7HA2MSCBUO4F7J71</lei>
        <title>Denver City and County, Colorado, Special Facilities Airport Revenue Bonds, United Airlines, Inc Project, Refunding Series 2017</title>
        <cusip>249271GV3</cusip>
        <identifiers>
          <isin value="US249271GV36"/>
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        <balance>500000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>Louisville, Boulder County, Colorado, General Obligation Bonds, Limited Tax, Series 2017</name>
        <lei>N/A</lei>
        <title>Louisville, Boulder County, Colorado, General Obligation Bonds, Limited Tax, Series 2017</title>
        <cusip>546659FP3</cusip>
        <identifiers>
          <isin value="US546659FP36"/>
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        <balance>750000.00000000</balance>
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      <invstOrSec>
        <name>Douglas County School District RE1, Douglas and Elbert Counties, Colorado, General Obligation Bonds, Series 2019</name>
        <lei>N/A</lei>
        <title>Douglas County School District RE1, Douglas and Elbert Counties, Colorado, General Obligation Bonds, Series 2019</title>
        <cusip>258885P89</cusip>
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          <isin value="US258885P891"/>
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        <name>Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2015A</name>
        <lei>N/A</lei>
        <title>Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2015A</title>
        <cusip>700387DM2</cusip>
        <identifiers>
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        <name>Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Series 2018A</name>
        <lei>N/A</lei>
        <title>Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Series 2018A</title>
        <cusip>700387FY4</cusip>
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      <invstOrSec>
        <name>Gunnison Watershed School District RE1J, Gunnison and Saguache Counties, Colorado, General Obligation Bonds, Refunding Series 2014A</name>
        <lei>N/A</lei>
        <title>Gunnison Watershed School District RE1J, Gunnison and Saguache Counties, Colorado, General Obligation Bonds, Refunding Series 2014A</title>
        <cusip>402892DC4</cusip>
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          <isin value="US402892DC44"/>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>Northglenn Urban Renewal Authority, Northglenn, Colorado, Tax Increment Revenue Bonds, Urban Renewal Plan 2, Series 2019</name>
        <lei>N/A</lei>
        <title>Northglenn Urban Renewal Authority, Northglenn, Colorado, Tax Increment Revenue Bonds, Urban Renewal Plan 2, Series 2019</title>
        <cusip>66644KAN8</cusip>
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          <isin value="US66644KAN81"/>
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        <balance>305000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ebert Metropolitan District, Denver Colorado, Limited Tax General Obligation Bonds, Refunding Series 2018A-1</name>
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        <name>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1</name>
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        <name>Grand River Hospital District, Garfield and Mesa Counties, Colorado, General Obligation Bonds, Series 2018</name>
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        <name>Tallyn's Reach Metropolitan District 3, Aurora, Colorado, General Obligation Bonds, Refunding Series 2019</name>
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        <name>Westminster, Colorado, Certificates of Participation, Series 2015A</name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-2</name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Frasier Meadows Project, Refunding &amp; Improvement Series 2017B</name>
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        <name>Colorado Health Facilities Authority, Colorado, Hospital Revenue Bonds, Boulder Community Hospital Project, Series 2012</name>
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        <cusip>19648AZL2</cusip>
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        <name>Tallyn's Reach Metropolitan District 3, Aurora, Colorado, General Obligation Bonds, Refunding Series 2019</name>
        <lei>5493001U1VNJPWBNSN91</lei>
        <title>Tallyn's Reach Metropolitan District 3, Aurora, Colorado, General Obligation Bonds, Refunding Series 2019</title>
        <cusip>87482MBT1</cusip>
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        <name>Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Rocky Mountain Classical Academy Project, Refunding Series 2019</name>
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        <name>Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010</name>
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        <cusip>759151AH6</cusip>
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        <name>Colorado Mesa University, Colorado, Enterprise Revenue Bonds, Series 2019B</name>
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        <name>Fronterra Village Metropolitan District 2, Commerce City, Adams County, Colorado, Limited Tax General Obligation Bonds, Refunding Series 2019</name>
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        <name>Regional Transportation District, Colorado, Sales Tax Revenue Bonds, Fastracks Project, Series 2016A</name>
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        <name>Dove Valley Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Refunding Series 2019</name>
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      <invstOrSec>
        <name>Delta,Colorado, Sales and Use Tax Revenue Bonds, Refunding Series 2019</name>
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        <name>Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Community Leadership Academy, Inc Second Campus Project, Series </name>
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        <name>Firestone, Colorado, Water Enterprise Revenue Bones, Series 2020</name>
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        <name>Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2018A</name>
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        <name>Aviation Station North Metropolitan District 2, Denver County, Colorado, Limited Tax General Obligation Bonds, Refunding &amp; Improvement Series 2019A</name>
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        <name>Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Series 2019A</name>
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        <name>Cherrylane Metropolitan District, Adams County, Colorado, Limited Tax General Obligation Bonds, Convertible to Unlimited Tax Series 2018A</name>
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        <name>Colorado Educational and Cultural Facilities Authority, Revenue Bonds, West Ridge Academy Charter School, Refunding &amp; Improvement Series 2019</name>
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        <name>Colorado Educational and Cultural Facilities Authority Charter School Revenue Bonds, Monument Academy Charter School Project, Refunding Series 2014</name>
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        <name>Water Valley Metropolitan District 1, Colorado, General Obligation Bonds, Refunding Series 2016</name>
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        <name>Triview Metropolitan District, El Paso County, Colorado, Water and Wastewater Enterprise Revenue Bonds, Green Series 2020</name>
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        <cusip>89686ABN0</cusip>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, American Baptist Homes Project, Series 2016</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <cusip>19648A5R2</cusip>
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        <name>Weld County School District 6, Greeley, Colorado, General Obligation Bonds, Series 2020</name>
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        <title>Weld County School District 6, Greeley, Colorado, General Obligation Bonds, Series 2020</title>
        <cusip>949289PN6</cusip>
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        <name>Tallyn's Reach Metropolitan District 3, Aurora, Colorado, General Obligation Bonds, Refunding Series 2019</name>
        <lei>5493001U1VNJPWBNSN91</lei>
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        <cusip>87482MBM6</cusip>
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          <isin value="US87482MBM64"/>
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        <name>Poudre Tech Metro District, Colorado, Unlimited Property Tax Supported Revenue Bonds, Refunding Series 2020</name>
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        <cusip>738562BB2</cusip>
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        <name>Aspen Fire Protection District, Pitkin County, Colorado, Certificates of Participation, Series 2019</name>
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        <cusip>045269AN7</cusip>
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        <name>Grand Junction Regional Airport Authority, Colorado, General Airport Revenue Bonds, Refunding Series 2016A</name>
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        <cusip>385785AQ3</cusip>
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        <name>Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding &amp; Improvement Series 2017</name>
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        <name>Colorado International Center Metropolitan District 14, Denver, Colorado, Limited Tax General Obligation Bonds, Refunding &amp; Improvement Series 2018</name>
        <lei>N/A</lei>
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        <cusip>196502AC2</cusip>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Christian Living Neighborhoods Project, Refunding Series 2016</name>
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      <invstOrSec>
        <name>Colorado Water Resources and Power Development Authority, Water Resources Revenue Bonds, Steamboat Springs Utilities Fund, Series 2011B</name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Children's Hospital Colorado Project, Refunding Series 2020A</name>
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      <invstOrSec>
        <name>East Cherry Creek Valley Water and Sanitation District, Arapahoe County, Colorado, Water Revenue Bonds, Refunding Series 2015</name>
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        <title>East Cherry Creek Valley Water and Sanitation District, Arapahoe County, Colorado, Water Revenue Bonds, Refunding Series 2015</title>
        <cusip>271579CV4</cusip>
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      <invstOrSec>
        <name>Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Refunding Senior Lien Series 2016</name>
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        <cusip>249189DH1</cusip>
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      <invstOrSec>
        <name>East Cherry Creek Valley Water and Sanitation District, Arapahoe County, Colorado, Water Revenue Bonds, Refunding Series 2020</name>
        <lei>N/A</lei>
        <title>East Cherry Creek Valley Water and Sanitation District, Arapahoe County, Colorado, Water Revenue Bonds, Refunding Series 2020</title>
        <cusip>271579EL4</cusip>
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          <isin value="US271579EL41"/>
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      <invstOrSec>
        <name>Colorado Springs, Colorado, Utilities System Revenue Bonds, Improvement Variable Rate Series 2010C</name>
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        <title>Colorado Springs, Colorado, Utilities System Revenue Bonds, Improvement Variable Rate Series 2010C</title>
        <cusip>196632LH4</cusip>
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          <isin value="US196632LH42"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dove Valley Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Refunding Series 2019</name>
        <lei>N/A</lei>
        <title>Dove Valley Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Refunding Series 2019</title>
        <cusip>259864CX2</cusip>
        <identifiers>
          <isin value="US259864CX22"/>
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        <invCountry>US</invCountry>

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        <name>Tallyn's Reach Metropolitan District 3, Aurora, Colorado, General Obligation Bonds, Refunding Series 2019</name>
        <lei>5493001U1VNJPWBNSN91</lei>
        <title>Tallyn's Reach Metropolitan District 3, Aurora, Colorado, General Obligation Bonds, Refunding Series 2019</title>
        <cusip>87482MBQ7</cusip>
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          <isin value="US87482MBQ78"/>
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      <invstOrSec>
        <name>Thornton Development Authority, Colorado, Tax Increment Revenue Bonds, North Washington Street Corridor Project, Refunding Series 2015</name>
        <lei>N/A</lei>
        <title>Thornton Development Authority, Colorado, Tax Increment Revenue Bonds, North Washington Street Corridor Project, Refunding Series 2015</title>
        <cusip>885277DV2</cusip>
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          <isin value="US885277DV26"/>
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      <invstOrSec>
        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, AdventHealth Obligated Group, Series 2019A</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority, Colorado, Revenue Bonds, AdventHealth Obligated Group, Series 2019A</title>
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        <name>Meridian Metropolitan District, Douglas County, Colorado, General Obligation Refunding Bonds, Series 2017</name>
        <lei>N/A</lei>
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        <name>Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System Revenue Bonds, Series 2015A</name>
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        <name>Eagle River Fire Protection District, Eagle County, Colorado, General Obligation Bonds, Series 2016</name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2016B</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2016B</title>
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      <invstOrSec>
        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013A</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013A</title>
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        <name>Colorado Springs, Colorado, Utilities System Revenue Bonds, Refunding Series 2015A</name>
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        <name>Aspen Fire Protection District, Pitkin County, Colorado, Certificates of Participation, Series 2019</name>
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        <name>Colorado School of Mines Board of Trustees, Golden, Colorado, Institutional Enterprise Revenue Bonds, Series 2017B</name>
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        <name>Gunnison Watershed School District RE1J, Gunnison and Saguache Counties, Colorado, General Obligation Bonds, Refunding Series 2014A</name>
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        <name>Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System Revenue Bonds, Refunding Series 2017E</name>
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        <name>Larimer County School District R1, Poudre, Colorado, General Obligation Bonds, Refunding Series 2019</name>
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        <name>Dove Valley Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Refunding Series 2019</name>
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        <cusip>259864CW4</cusip>
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        <name>Denver City and County, Colorado, Airport System Revenue Bonds, Refunding Series 2010A</name>
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        <cusip>249182BU9</cusip>
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        <name>E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B</name>
        <lei>549300164ZV2301BC703</lei>
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        <name>Colorado Educational and Cultural Facilities Authority, Independent School Revenue Bonds, Kent Denver School Project, Series 2016</name>
        <lei>549300BJRX2FHSSZP042</lei>
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        <name>University of Colorado Hospital Authority, Colorado, Revenue Bonds, Series 2019-B2</name>
        <lei>GQ60RLZ5ZEBY2J9KLI75</lei>
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        <name>Southwest Timnath Metropolitan District 4, Timnath, Larimer County, Colorado, Limited Tax General Obligation Bonds, Series 2017A</name>
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        <cusip>845314AB9</cusip>
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        <name>Flying Horse Metropolitan District 2, El Paso County, Colorado, General Obligation Limited Tax Bonds, Refunding &amp; Improvement Series 2020A</name>
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        <name>Ignacio School District 11JT, La Plata County, Colorado, General Obligation Bonds, Refunding Series 2016</name>
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        <name>Gunnison County, Colorado, Certificates of Participation, Series 2020A</name>
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        <name>Colorado State, Building Excellent Schools Today, Certificates of Participation, Series 2019O</name>
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        <name>Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System Revenue Bonds, Series 2013C</name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Parkview Medical Center Inc Project, Refunding Series 2017</name>
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        <name>Parker Homestead Metropolitan District, Parker, Douglas County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refundin</name>
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      <invstOrSec>
        <name>Aerotropolis Regional Transportation Authority, Colorado, Special Revenue Bonds, Series 2019</name>
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          <isin value="US008051AA25"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Wildgrass Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2014A</name>
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        <title>Wildgrass Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2014A</title>
        <cusip>96811RAM9</cusip>
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          <isin value="US96811RAM97"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Denver City and County Board of Water Commissioners, Colorado, Water Revenue Bonds, Green Series 2017A</name>
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        <title>Denver City and County Board of Water Commissioners, Colorado, Water Revenue Bonds, Green Series 2017A</title>
        <cusip>24916PGA9</cusip>
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          <isin value="US24916PGA93"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Grand Junction, Colorado, Certificates of Participation, Series 2019</name>
        <lei>N/A</lei>
        <title>Grand Junction, Colorado, Certificates of Participation, Series 2019</title>
        <cusip>385786CE6</cusip>
        <identifiers>
          <isin value="US385786CE64"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eagle County Air Terminal Corporation, Colorado, Airport Terminal Project Revenue Bonds, Refunding Series 2011A</name>
        <lei>N/A</lei>
        <title>Eagle County Air Terminal Corporation, Colorado, Airport Terminal Project Revenue Bonds, Refunding Series 2011A</title>
        <cusip>26947EAS9</cusip>
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          <isin value="US26947EAS90"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Parker, Colorado, Certificates of Participation, Refunding Series 2019</name>
        <lei>N/A</lei>
        <title>Parker, Colorado, Certificates of Participation, Refunding Series 2019</title>
        <cusip>70105FCR2</cusip>
        <identifiers>
          <isin value="US70105FCR29"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Denver West Promenade Metropolitan District, Lakewood, Colorado, General Obligtion Bonds, Limited Tax Convertible to Unlimited Tax Series 2013</name>
        <lei>N/A</lei>
        <title>Denver West Promenade Metropolitan District, Lakewood, Colorado, General Obligtion Bonds, Limited Tax Convertible to Unlimited Tax Series 2013</title>
        <cusip>249482AB6</cusip>
        <identifiers>
          <isin value="US249482AB64"/>
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        <balance>500000.00000000</balance>
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        <valUSD>507535.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System Revenue Bonds, Refunding Series 2017A</name>
        <lei>N/A</lei>
        <title>Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System Revenue Bonds, Refunding Series 2017A</title>
        <cusip>196707WD1</cusip>
        <identifiers>
          <isin value="US196707WD19"/>
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        <balance>1450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1652188.00000000</valUSD>
        <pctVal>0.339688781424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Weld County School District 6, Greeley, Colorado, General Obligation Bonds, Series 2020</name>
        <lei>N/A</lei>
        <title>Weld County School District 6, Greeley, Colorado, General Obligation Bonds, Series 2020</title>
        <cusip>949289PX4</cusip>
        <identifiers>
          <isin value="US949289PX46"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1931475.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Parkview Medical Center Inc Project, Refunding Series 2017</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Parkview Medical Center Inc Project, Refunding Series 2017</title>
        <cusip>19648FDV3</cusip>
        <identifiers>
          <isin value="US19648FDV31"/>
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        <balance>235000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Union Colony School Project, Series 2018</name>
        <lei>549300BJRX2FHSSZP042</lei>
        <title>Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Union Colony School Project, Series 2018</title>
        <cusip>19645R7A3</cusip>
        <identifiers>
          <isin value="US19645R7A31"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2018A</name>
        <lei>N/A</lei>
        <title>Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2018A</title>
        <cusip>249182LW4</cusip>
        <identifiers>
          <isin value="US249182LW44"/>
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        <balance>4000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Colorado Water Resources and Power Development Authority, Water Resources Revenue Bonds, City of Fountain, Electric, Water &amp; Wastewater Utility Enterp</name>
        <lei>N/A</lei>
        <title>Colorado Water Resources and Power Development Authority, Water Resources Revenue Bonds, City of Fountain, Electric, Water &amp; Wastewater Utility Enterp</title>
        <cusip>19679RSA9</cusip>
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          <isin value="US19679RSA94"/>
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        <balance>765000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2018B</name>
        <lei>N/A</lei>
        <title>Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2018B</title>
        <cusip>249182MZ6</cusip>
        <identifiers>
          <isin value="US249182MZ65"/>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Park 70 Metropolitan District, Aurora, Colorado, General Obligation Bonds, Limited Tax Refunding &amp; Improvement Series 2016</name>
        <lei>N/A</lei>
        <title>Park 70 Metropolitan District, Aurora, Colorado, General Obligation Bonds, Limited Tax Refunding &amp; Improvement Series 2016</title>
        <cusip>70014RAK3</cusip>
        <identifiers>
          <isin value="US70014RAK32"/>
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        <balance>125000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Aspen, Colorado, Certificates of Participation, Series 2019</name>
        <lei>N/A</lei>
        <title>Aspen, Colorado, Certificates of Participation, Series 2019</title>
        <cusip>045258DS6</cusip>
        <identifiers>
          <isin value="US045258DS66"/>
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        <balance>4150000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Denver Urban Renewal Authority, Colorado, Tax Increment Revenue Bonds, 9th and Colorado Urban Redevelopement Area, Series 2018A</name>
        <lei>54930040L61W75KRAG79</lei>
        <title>Denver Urban Renewal Authority, Colorado, Tax Increment Revenue Bonds, 9th and Colorado Urban Redevelopement Area, Series 2018A</title>
        <cusip>249301FX5</cusip>
        <identifiers>
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        <name>Colorado Educational and Cultural Facilities Authority Charter School Revenue Bonds, Monument Academy Charter School Project, Refunding Series 2014</name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2018B</name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Total Longterm Care National Obligated Group Project, Series 2010A</name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-2</name>
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        <name>Forest Trace Metropolitan District 3, Aurora City, Arapahoe County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Seri</name>
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        <name>Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010</name>
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        <name>East Cherry Creek Valley Water and Sanitation District, Arapahoe County, Colorado, Water Revenue Bonds, Improvement Series 2019A</name>
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        <name>Denver, Colorado, Certificates of Participation, Denver Botanic Gardens Parking, Series 2008B</name>
        <lei>MMTY7HA2MSCBUO4F7J71</lei>
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        <name>East Cherry Creek Valley Water and Sanitation District, Arapahoe County, Colorado, Water Revenue Bonds, Refunding Series 2020</name>
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        <name>Northglenn Urban Renewal Authority, Northglenn, Colorado, Tax Increment Revenue Bonds, Urban Renewal Plan 2, Series 2019</name>
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        <name>Colorado State, Certificates of Participation, Lease Purchase Agreement Department of Transportation Second Amended &amp; Restated Headquaters Facilities,</name>
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        <name>Colorado Educational and Cultural Facilities Authority, Revenue Bonds, University of Denver, Series 2017A</name>
        <lei>549300BJRX2FHSSZP042</lei>
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        <name>Colorado High Performance Transportation Enterprise, C-470 Express Lanes Revenue Bonds, Senior Lien Series 2017</name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Children's Hospital Colorado Project, Series 2016A</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013</name>
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        <name>Tallyn's Reach Metropolitan District 3, Aurora, Colorado, General Obligation Bonds, Refunding Series 2019</name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Valley View Hospital Association, Series 2015</name>
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        <name>Leyden Rock Metropolitan District No 10, In the City of Arvada, Colorado, Limited Tax General Obligation Bonds, Refunding and Improvement Series 20016</name>
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        <name>Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2018A</name>
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        <name>Cottonwood Highlands Metropolitan District No 1, In the town of Parker, Colorado, Limited Tax, Convertible to Unlimited Tax General Obligation Bonds, </name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Valley View Hospital Association, Series 2017A</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <name>Foothills Park and Recreation District, Subdistrict A, Jefferson County, Colorado, General Obligation Bonds, Refunding Series 2015</name>
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        <name>Painted Prairie Public Improvement Authority, Aurora, Colorado, Special Revenue Bonds, Series 2019</name>
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        <cusip>69578NAC0</cusip>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sanford Health, Series 2019A</name>
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        <name>Jefferson Center Metropolitan District 1, Arvada, Jefferson County, Colorado, Revenue Bonds, Refunding Series 2015</name>
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        <name>Aspen Fire Protection District, Pitkin County, Colorado, Certificates of Participation, Series 2019</name>
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        <name>Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Aspen Ridge School Project, Series 2015A</name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, SCL Health System, Refunding Series 2019A</name>
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        <name>Denver City and County School District 1, Colorado, Lease Purchase Program Certificates of Participation, Series 2015B</name>
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      <invstOrSec>
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        <name>Colorado Housing and Finance Authority, Single Family Mortgage Bonds, Class I Series 2011A-A</name>
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        <name>Colorado State, Building Excellent Schools Today, Certificates of Participation, Series 2017J</name>
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        <name>Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System Revenue Bonds, Refunding Series 2019A</name>
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        <name>Pueblo County, Colorado, Certificates of Participation, Community Improvement Projects, Series 2019</name>
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        <name>Colorado Water Resources and Power Development Authority, Small Water Resources Program Revenue Bonds, City of Fountain Utility Enterprise Project, Se</name>
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        <name>Jefferson Center Metropolitan District 1, Arvada, Jefferson County, Colorado, Special Revenue Bonds, Series 2020-A2</name>
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        <name>Sierra Ridge Metropolitan District 2, Douglas County, Colorado, General Obligation Bonds, Limited Tax Series 2016A</name>
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        <name>Vista Ridge Metropolitan District, In the Town of Erie, Weld County, Colorado, General Obligation Refunding Bonds, Series 2016A</name>
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          <isin value="US92838EBA10"/>
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        <name>Larimer County School District R1, Poudre, Colorado, General Obligation Bonds, Refunding Series 2019</name>
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        <name>Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding Series 2013</name>
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        <name>Longmont, Colorado, Sales and Use Tax Revenue Bonds, Series 2019</name>
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        <name>Fossil Ridge Metropolitan District No 3, In the City of Lakewood, Jefferson County, Colorado, General Obligation Limited Tax Bonds, Series 2014</name>
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        <name>Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Douglas County School District RE-1 - DCS Montessori School, Ref</name>
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        <name>Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System Revenue Bonds, Series 2013C</name>
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        <name>Stoneridge Metropolitan District, Colorado, General Obligation Bonds, Limited Tax Refunding &amp; Improvement Series 2016</name>
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        <name>Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Series 2019A</name>
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        <name>Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Belle Creek Charter School, Series 2007A</name>
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        <name>Sand Creek Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2010B</name>
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        <name>Denver, Colorado, Certificates of Participation, Wellington E Webb Municipal Office Building, Refunding Series 2008A-3</name>
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        <name>Pueblo County School District 60, Pueblo, Colorado, General Obligation Bonds, Series 2020</name>
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        <name>Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Aspen Ridge School Project, Series 2015A</name>
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        <name>Water Valley Metropolitan District 1, Colorado, General Obligation Bonds, Refunding Series 2016</name>
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        <name>Cherry Creek Corporate Center Metropolitan District, Arapahoe County, Colorado, Revenue Bonds, Refunding Senior Lien Series 2015A</name>
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        <name>Colorado State, Certificates of Participation, Rural Series 2020A</name>
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        <name>Pueblo County School District 60, Pueblo, Colorado, General Obligation Bonds, Series 2020</name>
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        <name>Sterling Hills West Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Refunding &amp; Improvement Series 2007</name>
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        <name>Delta,Colorado, Sales and Use Tax Revenue Bonds, Refunding Series 2019</name>
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        <name>Colorado High Performance Transportation Enterprise, US 36 and I-25 Managed Lanes Revenue Bonds, Senior Lien Series 2014</name>
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      <invstOrSec>
        <name>Metropolitan State University of Denver, Institutional Enterprise Revenue Bonds, Aerospace and Engineering Sciences Building Project, Series 2016</name>
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      <invstOrSec>
        <name>High Plains Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Refunding Series 2017</name>
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      <invstOrSec>
        <name>Regional Transportation District, Colorado, Sales Tax Revenue Bonds, Fastracks Project, Series 2017B</name>
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        <cusip>759136UQ5</cusip>
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        <name>Arapahoe County Water and Wastewater Authority, Colorado, Revenue Bonds, Refunding Series 2019</name>
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        <cusip>038716GT7</cusip>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2016A</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <cusip>19648FAB0</cusip>
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        <name>Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Skyview Academy Project, Series 2014</name>
        <lei>549300BJRX2FHSSZP042</lei>
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        <cusip>19645RWY3</cusip>
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        <name>Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Littleton Preparatory Charter School, Series 2013</name>
        <lei>549300BJRX2FHSSZP042</lei>
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        <cusip>19645RRG8</cusip>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Valley View Hospital Association, Series 2017A</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Valley View Hospital Association, Series 2017A</title>
        <cusip>19648FFQ2</cusip>
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      <invstOrSec>
        <name>Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Rocky Mountain Classical Academy Project, Refunding Series 2019</name>
        <lei>549300BJRX2FHSSZP042</lei>
        <title>Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Rocky Mountain Classical Academy Project, Refunding Series 2019</title>
        <cusip>19645UBJ2</cusip>
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        <name>Vista Ridge Metropolitan District, In the Town of Erie, Weld County, Colorado, General Obligation Refunding Bonds, Series 2016A</name>
        <lei>N/A</lei>
        <title>Vista Ridge Metropolitan District, In the Town of Erie, Weld County, Colorado, General Obligation Refunding Bonds, Series 2016A</title>
        <cusip>92838EBB9</cusip>
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          <isin value="US92838EBB92"/>
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      <invstOrSec>
        <name>Southlands Metropolitan District 1, Colorado, Limited Tax General Obligation Bonds, Series 2017A-1</name>
        <lei>N/A</lei>
        <title>Southlands Metropolitan District 1, Colorado, Limited Tax General Obligation Bonds, Series 2017A-1</title>
        <cusip>84454RBA2</cusip>
        <identifiers>
          <isin value="US84454RBA23"/>
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        <name>Boulder Larimer &amp; Weld Counties School District RE-1J Saint Vrain Valley, Colorado, General Obligation Bonds, Series 2016C</name>
        <lei>N/A</lei>
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        <cusip>101565J59</cusip>
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          <isin value="US101565J594"/>
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        <name>Erie, Colorado, Certificates of Participation, Series 2010</name>
        <lei>N/A</lei>
        <title>Erie, Colorado, Certificates of Participation, Series 2010</title>
        <cusip>29502MAZ6</cusip>
        <identifiers>
          <isin value="US29502MAZ68"/>
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        <name>Stonegate Village Metropolitan District, Colorado, Water Enterprise Revenue Bonds, Series 2015</name>
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        <cusip>86181SAU2</cusip>
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        <name>Lambertson Farms Metropolitan District 1, Colorado, Revenue Bonds, Refunding &amp; Improvement Series 2015</name>
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        <name>Tallyn's Reach Metropolitan District 3, Aurora, Colorado, General Obligation Bonds, Refunding Series 2019</name>
        <lei>5493001U1VNJPWBNSN91</lei>
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      <invstOrSec>
        <name>Commerce City, Colorado, Sales and Use Tax Revenue Bonds, Series 2016</name>
        <lei>N/A</lei>
        <title>Commerce City, Colorado, Sales and Use Tax Revenue Bonds, Series 2016</title>
        <cusip>200588PF2</cusip>
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        <name>El Paso County School District 49 Falcon, Colorado, Certificates of Participation, Series 2017B</name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Covenant Retirement Communities Inc, Refunding Series 2015A</name>
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        <name>Commerce City, Colorado, Sales and Use Tax Revenue Bonds, Series 2016</name>
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        <name>Parker Water and Sanitation District, Douglas County, Colorado, Water and Sewer Enterprise Revenue Bonds, Refunding &amp; Improvement Series 2020</name>
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        <name>Central Platte Valley Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2014</name>
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        <cusip>154876AZ9</cusip>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Boulder Community Health Project, Series 2020</name>
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        <name>University of Colorado, Enterprise System Revenue Bonds, Refunding Series 2014B-1</name>
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        <name>Parker Water and Sanitation District, Douglas County, Colorado, Water and Sewer Enterprise Revenue Bonds, Refunding &amp; Improvement Series 2020</name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Parkview Medical Center, Series 2020A</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <name>Colorado Health Facilities Authority, Colorado, Health Facilities Revenue Bonds, The Evangelical Lutheran Good Samaritan Society Project, Refunding Se</name>
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        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, Adventist Health, Sunbelt Obligated Group, Series 2014E</name>
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        <name>Lorson Ranch Metropolitan District 2, El Paso County, Colorado, Limited Tax General Obligation Bonds, Series 2016</name>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, AdventHealth Obligated Group, Series 2019A</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority, Colorado, Revenue Bonds, AdventHealth Obligated Group, Series 2019A</title>
        <cusip>19648FJC9</cusip>
        <identifiers>
          <isin value="US19648FJC95"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3480960.00000000</valUSD>
        <pctVal>0.715683118741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Adams and Weld Counties School District 27J, Brighton, Colorado, General Obligation Bonds, Series 2015</name>
        <lei>N/A</lei>
        <title>Adams and Weld Counties School District 27J, Brighton, Colorado, General Obligation Bonds, Series 2015</title>
        <cusip>005518VM4</cusip>
        <identifiers>
          <isin value="US005518VM45"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300342.50000000</valUSD>
        <pctVal>0.061750223240</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Pinnacle Charter School, Inc High School Project, Series 2010</name>
        <lei>549300BJRX2FHSSZP042</lei>
        <title>Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Pinnacle Charter School, Inc High School Project, Series 2010</title>
        <cusip>19645RJT9</cusip>
        <identifiers>
          <isin value="US19645RJT95"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1001610.00000000</valUSD>
        <pctVal>0.205930366497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dove Valley Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Refunding Series 2019</name>
        <lei>N/A</lei>
        <title>Dove Valley Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Refunding Series 2019</title>
        <cusip>259864DA1</cusip>
        <identifiers>
          <isin value="US259864DA10"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1175800.00000000</valUSD>
        <pctVal>0.241743717542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sand Creek Metropolitan District, Denver County, Colorado, General Obligation Limited Tax Bonds, Refunding Series 2015A</name>
        <lei>N/A</lei>
        <title>Sand Creek Metropolitan District, Denver County, Colorado, General Obligation Limited Tax Bonds, Refunding Series 2015A</title>
        <cusip>799712GM0</cusip>
        <identifiers>
          <isin value="US799712GM04"/>
        </identifiers>
        <balance>190000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>217751.40000000</valUSD>
        <pctVal>0.044769546637</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Erie, Boulder and Weld Counties, Colorado, Water Enterprise Revenue Bonds, Refunding Series 2015</name>
        <lei>N/A</lei>
        <title>Erie, Boulder and Weld Counties, Colorado, Water Enterprise Revenue Bonds, Refunding Series 2015</title>
        <cusip>295017EH6</cusip>
        <identifiers>
          <isin value="US295017EH61"/>
        </identifiers>
        <balance>570000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>645051.90000000</valUSD>
        <pctVal>0.132622252350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fossil Ridge Metropolitan District 1, Lakewood, Colorado, Tax-Supported Revenue Bonds, Refunding Series 2010</name>
        <lei>N/A</lei>
        <title>Fossil Ridge Metropolitan District 1, Lakewood, Colorado, Tax-Supported Revenue Bonds, Refunding Series 2010</title>
        <cusip>349884AB2</cusip>
        <identifiers>
          <isin value="US349884AB25"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502450.00000000</valUSD>
        <pctVal>0.103303394181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Denver, Colorado, Certificates of Participation, Convention Center Expansion Project, Series 2018A</name>
        <lei>MMTY7HA2MSCBUO4F7J71</lei>
        <title>Denver, Colorado, Certificates of Participation, Convention Center Expansion Project, Series 2018A</title>
        <cusip>249183YH1</cusip>
        <identifiers>
          <isin value="US249183YH13"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1045000.00000000</valUSD>
        <pctVal>0.214851322360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grand Junction, Colorado, General Fund Revenue Bonds, Improvement Series 2020B</name>
        <lei>N/A</lei>
        <title>Grand Junction, Colorado, General Fund Revenue Bonds, Improvement Series 2020B</title>
        <cusip>385789CH3</cusip>
        <identifiers>
          <isin value="US385789CH35"/>
        </identifiers>
        <balance>2535000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2959511.10000000</valUSD>
        <pctVal>0.608473563039</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Foothills Metropolitan District, Fort Collins, Colorado, Special Revenue Bonds, Series 2014</name>
        <lei>N/A</lei>
        <title>Foothills Metropolitan District, Fort Collins, Colorado, Special Revenue Bonds, Series 2014</title>
        <cusip>34512KAC9</cusip>
        <identifiers>
          <isin value="US34512KAC99"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>514765.00000000</valUSD>
        <pctVal>0.105835350196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Arista Metropolitan District, Broomfield County, Colorado, General Obligation Limited Tax Bonds, Refunding &amp; Improvement Convertible to Unlimited Tax </name>
        <lei>N/A</lei>
        <title>Arista Metropolitan District, Broomfield County, Colorado, General Obligation Limited Tax Bonds, Refunding &amp; Improvement Convertible to Unlimited Tax </title>
        <cusip>04041AAA8</cusip>
        <identifiers>
          <isin value="US04041AAA88"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>513010.00000000</valUSD>
        <pctVal>0.105474523334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="The International Organization for Standardization (ISO) country code included within Part C.5. of this filing may differ from that used for other purposes, such as for fund portfolio compliance purposes and for financial reporting purposes (i.e. the preparation of the fund's schedule of investments included within Part F of Form N-PORT and Form N-CSR." noteItem="C.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-08-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Nuveen Multistate Trust I</ncom:nameOfApplicant>
      <ncom:signature>E. Scott Wickerham</ncom:signature>
      <ncom:signerName>E. Scott Wickerham</ncom:signerName>
      <ncom:title>Funds Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
