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        <name>Cadence Community Facilities District, Mesa, Arizona, Special Assessment Revenue Bonds, Assessment District 1, Series 2019</name>
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        <name>Glendale, Arizona, Water and Sewer Revenue Bonds, Senior Lien Series 2022A</name>
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        <name>Scottsdale Municipal Property Corporation, Arizona, Excise Tax Revenue Bonds, Refunding Series 2017</name>
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        <cusip>810489SH8</cusip>
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        <name>Maricopa County Industrial Development Authority, Arizona, Education Revenue Bonds, Arizona Autism Charter Schools Project, Series 2020A</name>
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        <name>Arizona Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Basis Schools, Inc. Projects, Series 2017F</name>
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        <name>Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Refunding Series 2015A</name>
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        <name>Estrella Mountain Ranch Community Facilities District, Goodyear, Arizona, General Obligation Bonds, Refunding Series 2017</name>
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        <name>Cadence Community Facilities District, Mesa, Arizona, Special Assessment Revenue Bonds, Assessment District 3, Series 2020</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>Maricopa County Industrial Development Authority, Arizona, Education Revenue Bonds, Arizona Autism Charter Schools Project, Social Series 2021A</name>
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        <name>Arizona Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Basis Schools, Inc. Projects, Series 2017D</name>
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        <name>Yavapai County Jail District, Arizona, Pleged Revenue Obligation Bonds, Series 2020</name>
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        <name>Yuma Industrial Development Authority, Arizona, Hospital Revenue Bonds, Yuma Regional Medical Center, Series 2024A</name>
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        <name>Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2017</name>
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        <name>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2</name>
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        <name>Estrella Mountain Ranch Community Facilities District, Goodyear, Arizona, Special Assessment Revenue Bonds, Lucero Assessment District 2, Series 2023</name>
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        <name>Guam Power Authority, Revenue Bonds, Refunding Series 2024A</name>
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        <name>Sierra Vista Industrial Development Authority, Arizona, Economic Development Revenue Bonds, Convertible Capital Appreciation Revenue Bonds, Series 202</name>
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        <name>Phoenix Civic Improvement Corporation, Arizona, Wastewater System Revenue Bonds, Junior Lien Series 2023</name>
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        <name>Arizona Board of Regents, Arizona State University System Revenue Bonds, Green Series 2023A</name>
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        <name>Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Series 2024A</name>
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        <name>Pinal County, Arizona, Pledged Revenue Obligations, Series 2019</name>
        <lei>N/A</lei>
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        <name>Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Northwest Christian School Project, Series 2020A</name>
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        <name>Yavapai County Industrial Development Authority, Arizona, Hospital Revenue Bonds, Yavapai Regional Medical Center, Refunding Series 2016</name>
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        <title>Yavapai County Industrial Development Authority, Arizona, Hospital Revenue Bonds, Yavapai Regional Medical Center, Refunding Series 2016</title>
        <cusip>985900EE5</cusip>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority, Arizona, Lease Revenue Bonds, University of Indianapolis - Health Pavilion Project, Series 2019A</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority, Arizona, Lease Revenue Bonds, University of Indianapolis - Health Pavilion Project, Series 2019A</title>
        <cusip>04052HAL5</cusip>
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        <name>Pima County Industrial Development Authority, Arizona, Education Revenue Bonds, Noah Webster Schools ? Mesa Project, Series 2015A</name>
        <lei>549300QDTQ25545R4K19</lei>
        <title>Pima County Industrial Development Authority, Arizona, Education Revenue Bonds, Noah Webster Schools ? Mesa Project, Series 2015A</title>
        <cusip>72177MQS9</cusip>
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        <name>Maricopa County School District 214 Tolleson Union High, Arizona, General Obligation Bonds, School Improvement Project 2017, Series 2018A</name>
        <lei>N/A</lei>
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        <cusip>567527SS6</cusip>
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        <name>Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Edkey Charter Schools Project, Series 2016</name>
        <lei>549300QDTQ25545R4K19</lei>
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      <invstOrSec>
        <name>Queen Creek, Arizona, Excise Tax &amp; State Shared Revenue Obligation Bonds, Refunding Series 2016</name>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority, Arizona, Education Revenue Bonds, Academies of Math &amp; Science Projects, Series 2017A</name>
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        <title>Arizona Industrial Development Authority, Arizona, Education Revenue Bonds, Academies of Math &amp; Science Projects, Series 2017A</title>
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      <invstOrSec>
        <name>Pima County Unified School District 20 Vail, Arizona, General Obligation Bonds, Refunding School Improvement Series 2015</name>
        <lei>N/A</lei>
        <title>Pima County Unified School District 20 Vail, Arizona, General Obligation Bonds, Refunding School Improvement Series 2015</title>
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      <invstOrSec>
        <name>Yuma Industrial Development Authority, Arizona, Hospital Revenue Bonds, Yuma Regional Medical Center, Series 2024A</name>
        <lei>N/A</lei>
        <title>Yuma Industrial Development Authority, Arizona, Hospital Revenue Bonds, Yuma Regional Medical Center, Series 2024A</title>
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      <invstOrSec>
        <name>Festival Ranch Community Facilities District, Buckeye, Arizona, Special Assessment Revenue Bonds,  Assessment District 11, Series 2017</name>
        <lei>N/A</lei>
        <title>Festival Ranch Community Facilities District, Buckeye, Arizona, Special Assessment Revenue Bonds,  Assessment District 11, Series 2017</title>
        <cusip>315599CM0</cusip>
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        <name>Maricopa County Special Health Care District, Arizona, General Obligation Bonds, Series 2018C</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Buckeye Union High School District 201, Maricopa County, Arizona, General Obligation Bonds, School Improvement Project, Refunding Series 2017</name>
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        <cusip>118106JL8</cusip>
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          <isin value="US118106JL82"/>
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      <invstOrSec>
        <name>Maricopa County Industrial Development Authority, Arizona, Education Revenue Bonds, Great Hearts Academies Projects, Series 2017A</name>
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        <title>Maricopa County Industrial Development Authority, Arizona, Education Revenue Bonds, Great Hearts Academies Projects, Series 2017A</title>
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          <isin value="US56681NBQ97"/>
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      <invstOrSec>
        <name>Maricopa County Unified School District 80, Chandler, Arizona, School Improvement Bonds, 2019 Project, Series 2021B</name>
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        <cusip>567389ZE4</cusip>
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          <isin value="US567389ZE46"/>
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      <invstOrSec>
        <name>Queen Creek, Arizona, Excise Tax &amp; State Shared Revenue Obligation Bonds, Refunding Series 2016</name>
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        <title>Queen Creek, Arizona, Excise Tax &amp; State Shared Revenue Obligation Bonds, Refunding Series 2016</title>
        <cusip>74823YGJ8</cusip>
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          <isin value="US74823YGJ82"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Phoenix Civic Improvement Corporation, Arizona, Wastewater System Revenue Bonds, Refunding Junior Lien Series 2014</name>
        <lei>N/A</lei>
        <title>Phoenix Civic Improvement Corporation, Arizona, Wastewater System Revenue Bonds, Refunding Junior Lien Series 2014</title>
        <cusip>71883PJU2</cusip>
        <identifiers>
          <isin value="US71883PJU21"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Maricopa County Industrial Development Authority, Arizona, Hospital Revenue Bonds, HonorHealth, Series 2019A</name>
        <lei>N/A</lei>
        <title>Maricopa County Industrial Development Authority, Arizona, Hospital Revenue Bonds, HonorHealth, Series 2019A</title>
        <cusip>56678PAP2</cusip>
        <identifiers>
          <isin value="US56678PAP27"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Refunding Series 2015A</name>
        <lei>SHB8HO6GKXJ83RX5OV39</lei>
        <title>Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Refunding Series 2015A</title>
        <cusip>79574CAT0</cusip>
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          <isin value="US79574CAT09"/>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Industrial Development Authority, Pima County, Arizona, Education Revenue Bonds, Center for Academic Success Project, Refunding Series 2019</name>
        <lei>549300QDTQ25545R4K19</lei>
        <title>Industrial Development Authority, Pima County, Arizona, Education Revenue Bonds, Center for Academic Success Project, Refunding Series 2019</title>
        <cusip>72177MSL2</cusip>
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          <isin value="US72177MSL27"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Phoenix Civic Improvement Corporation, Arizona, Rental Car Facility Charge Revenue Bonds, Series 2019A</name>
        <lei>N/A</lei>
        <title>Phoenix Civic Improvement Corporation, Arizona, Rental Car Facility Charge Revenue Bonds, Series 2019A</title>
        <cusip>718846AT5</cusip>
        <identifiers>
          <isin value="US718846AT51"/>
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        <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>Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Champion Schools Project, Series 2017</name>
        <lei>549300QDTQ25545R4K19</lei>
        <title>Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Champion Schools Project, Series 2017</title>
        <cusip>72177PBU3</cusip>
        <identifiers>
          <isin value="US72177PBU30"/>
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        <balance>320000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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        <name>Matching Fund Special Purpose Securitization Corporation, Virgin Islands, Revenue Bonds, Series 2022A</name>
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        <title>Matching Fund Special Purpose Securitization Corporation, Virgin Islands, Revenue Bonds, Series 2022A</title>
        <cusip>57665NAG0</cusip>
        <identifiers>
          <isin value="US57665NAG07"/>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Phoenix Industrial Development Authority, Arizona, Lease Revenue Bonds, Eastern Kentucky University Project, Series 2016</name>
        <lei>549300A62PWFBDWB8332</lei>
        <title>Phoenix Industrial Development Authority, Arizona, Lease Revenue Bonds, Eastern Kentucky University Project, Series 2016</title>
        <cusip>71885MBH4</cusip>
        <identifiers>
          <isin value="US71885MBH43"/>
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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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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Tucson and Pima County Industrial Development Authority, Arizona, Joint Single Family Mortgage Revenue Bonds, Series 2024A</name>
        <lei>N/A</lei>
        <title>Tucson and Pima County Industrial Development Authority, Arizona, Joint Single Family Mortgage Revenue Bonds, Series 2024A</title>
        <cusip>898700HM4</cusip>
        <identifiers>
          <isin value="US898700HM49"/>
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        <balance>600000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>Pinal County Community College District, Arizona, Revenue Bonds, Central Arizona College, Series 2017</name>
        <lei>N/A</lei>
        <title>Pinal County Community College District, Arizona, Revenue Bonds, Central Arizona College, Series 2017</title>
        <cusip>722042GX0</cusip>
        <identifiers>
          <isin value="US722042GX04"/>
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        <balance>145000.00000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Maricopa County Unified School District 69 Paradise Valley, Arizona, General Obligation Bonds, School Improvement Project of 2015, Series 2021E</name>
        <lei>N/A</lei>
        <title>Maricopa County Unified School District 69 Paradise Valley, Arizona, General Obligation Bonds, School Improvement Project of 2015, Series 2021E</title>
        <cusip>567373L78</cusip>
        <identifiers>
          <isin value="US567373L786"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Arizona Board of Regents, Arizona State University System Revenue Bonds, Green Series 2024A</name>
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        <name>Maricopa County Industrial Development Authority, Arizona, Hospital Revenue Bonds, HonorHealth, Series 2019A</name>
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        <name>Arizona Board of Regents, Arizona State University System Revenue Bonds, Series 2021C</name>
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          <isin value="US040664DK71"/>
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        <name>Mesa, Arizona, Utility System Revenue Bonds, Series 2022A</name>
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          <isin value="US590545W548"/>
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        <name>Western Maricopa Education Center District 402, Maricopa County, Arizona, General Obligation Bonds, School Improvement Project 2012, Series2014B</name>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Basis Schools, Inc. Projects, Series 2017G</name>
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      <invstOrSec>
        <name>Queen Creek, Arizona, Excise Tax &amp; State Shared Revenue Obligation Bonds, Refunding Series 2016</name>
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        <name>Pima County Unified School District 1, Tucson, Arizona, General Obligation Bonds, Project of 2023 School Improvement Series 2024A</name>
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        <name>Arizona Industrial Development Authority, Arizona, Education Revenue Bonds,  Arizona Agribusiness and Equine Center, Inc. Project, Series 2017A</name>
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        <name>Buckeye, Arizona, Excise Tax Revenue Obligations, Series 2015</name>
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        <cusip>118087CA1</cusip>
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        <name>Eastmark Community Facilities District 1, Mesa, Arizona, General Obligation Bonds, Series 2018</name>
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        <name>Arizona Industrial Development Authority, Arizona, Economic Development Revenue Bonds, Linder Village Project in Meridian, Ada County, Idaho, Series 2</name>
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        <name>Vistancia West Community Facilities District, Peoria, Arizona, General Obligation Bonds, Series 2016</name>
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      <invstOrSec>
        <name>Eastmark Community Facilities District 1, Mesa, Arizona, General Obligation Bonds, Series 2017</name>
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        <name>Maricopa County Unified School District 95 Queen Creek, Arizona, General Obligation Bonds, School Improvement Series 2020</name>
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        <name>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2</name>
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        <name>Maricopa County School District 28 Kyrene Elementary, Arizona, General Obligation Bonds, School Improvement, Project 2017 Series 2020B</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Eastmark Community Facilities District 2, Mesa, Arizona, General Obligation Bonds, Series 2020</name>
        <lei>N/A</lei>
        <title>Eastmark Community Facilities District 2, Mesa, Arizona, General Obligation Bonds, Series 2020</title>
        <cusip>27748AAG2</cusip>
        <identifiers>
          <isin value="US27748AAG22"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Arizona Industrial Development Authority, Hospital Revenue Bonds, Phoenix Children's Hospital, Refunding Variable Rate Demand Series 2019B</name>
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        <title>Arizona Industrial Development Authority, Hospital Revenue Bonds, Phoenix Children's Hospital, Refunding Variable Rate Demand Series 2019B</title>
        <cusip>04052EAA6</cusip>
        <identifiers>
          <isin value="US04052EAA64"/>
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        <valUSD>4200000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Festival Ranch Community Facilities District, Buckeye, Arizona, General Obligation Bonds, Series 2016</name>
        <lei>N/A</lei>
        <title>Festival Ranch Community Facilities District, Buckeye, Arizona, General Obligation Bonds, Series 2016</title>
        <cusip>315598CQ3</cusip>
        <identifiers>
          <isin value="US315598CQ32"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>752634.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Arizona Industrial Development Authority, Arizona, Lease Revenue Bonds, Children's National Prince County Regional Medical Center, Series 2020A</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority, Arizona, Lease Revenue Bonds, Children's National Prince County Regional Medical Center, Series 2020A</title>
        <cusip>04052HBE0</cusip>
        <identifiers>
          <isin value="US04052HBE09"/>
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        <balance>405000.00000000</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>
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          <maturityDt>2039-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2015A</name>
        <lei>N/A</lei>
        <title>Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2015A</title>
        <cusip>71883MKC7</cusip>
        <identifiers>
          <isin value="US71883MKC72"/>
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        <balance>670000.00000000</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>
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          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Phoenix and Maricopa County Industrial Development Authority, Arizona, Single Family Mortgage Revenue Bonds, Series 2024A</name>
        <lei>N/A</lei>
        <title>Phoenix and Maricopa County Industrial Development Authority, Arizona, Single Family Mortgage Revenue Bonds, Series 2024A</title>
        <cusip>566736FL3</cusip>
        <identifiers>
          <isin value="US566736FL35"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1021259.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Surprise, Arizona, Pledged Revenue Bonds, Refunding Series 2015</name>
        <lei>N/A</lei>
        <title>Surprise, Arizona, Pledged Revenue Bonds, Refunding Series 2015</title>
        <cusip>86889AAQ5</cusip>
        <identifiers>
          <isin value="US86889AAQ58"/>
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        <balance>805000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>814232.71000000</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>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>McAllister Academic Village LLC, Arizona, Revenue Bonds, Arizona State University Hassayampa Academic Village Project, Refunding Series 2016</name>
        <lei>N/A</lei>
        <title>McAllister Academic Village LLC, Arizona, Revenue Bonds, Arizona State University Hassayampa Academic Village Project, Refunding Series 2016</title>
        <cusip>579173CN3</cusip>
        <identifiers>
          <isin value="US579173CN39"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1019472.00000000</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>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Pima County Unified School District 12 Sunnyside, Arizona, General Obligation Bonds, School Improvement Project 2011, Series 2014D</name>
        <lei>N/A</lei>
        <title>Pima County Unified School District 12 Sunnyside, Arizona, General Obligation Bonds, School Improvement Project 2011, Series 2014D</title>
        <cusip>721849LF2</cusip>
        <identifiers>
          <isin value="US721849LF22"/>
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        <balance>1125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1126133.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Estrella Mountain Ranch Community Facilities District, Goodyear, Arizona, General Obligation Bonds, Refunding Series 2017</name>
        <lei>N/A</lei>
        <title>Estrella Mountain Ranch Community Facilities District, Goodyear, Arizona, General Obligation Bonds, Refunding Series 2017</title>
        <cusip>29758ABN9</cusip>
        <identifiers>
          <isin value="US29758ABN90"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2015A</name>
        <lei>N/A</lei>
        <title>Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2015A</title>
        <cusip>71883MKD5</cusip>
        <identifiers>
          <isin value="US71883MKD55"/>
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        <balance>1315000.00000000</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>Pima County Unified School District 12 Sunnyside, Arizona, General Obligation Bonds, School Improvement Project of 2011, Series 2013B</name>
        <lei>N/A</lei>
        <title>Pima County Unified School District 12 Sunnyside, Arizona, General Obligation Bonds, School Improvement Project of 2011, Series 2013B</title>
        <cusip>721849KR7</cusip>
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          <isin value="US721849KR78"/>
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        <balance>500000.00000000</balance>
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        <invCountry>US</invCountry>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Lake Havasu City, Arizona, Wastewater System Revenue Bonds, Refunding Senior Lien Series 2015A</name>
        <lei>N/A</lei>
        <title>Lake Havasu City, Arizona, Wastewater System Revenue Bonds, Refunding Senior Lien Series 2015A</title>
        <cusip>509885BK4</cusip>
        <identifiers>
          <isin value="US509885BK47"/>
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        <balance>450000.00000000</balance>
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        <valUSD>454355.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Maricopa County and Phoenix City Industrial Development Authority, Arizona, Single Family Mortgage Revenue Bonds, Series 2024C</name>
        <lei>N/A</lei>
        <title>Maricopa County and Phoenix City Industrial Development Authority, Arizona, Single Family Mortgage Revenue Bonds, Series 2024C</title>
        <cusip>566736HS6</cusip>
        <identifiers>
          <isin value="US566736HS69"/>
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        <balance>1920000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-09-01</maturityDt>
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      <invstOrSec>
        <name>Cottonwood, Arizona, Pledged Revenue Bonds, Series 2015</name>
        <lei>N/A</lei>
        <title>Cottonwood, Arizona, Pledged Revenue Bonds, Series 2015</title>
        <cusip>221821AP6</cusip>
        <identifiers>
          <isin value="US221821AP67"/>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority, Arizona, Education Revenue Bonds, Pinecrest Academy of Nevada ? Sloan Canyon Campus Project, Series 2020A-2</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority, Arizona, Education Revenue Bonds, Pinecrest Academy of Nevada ? Sloan Canyon Campus Project, Series 2020A-2</title>
        <cusip>04052BMP6</cusip>
        <identifiers>
          <isin value="US04052BMP66"/>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Superstition Vistas Community Facilities District 1, Apache Junction, Arizona, Special Assessment Revenue Bonds, Series 2023</name>
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          <isin value="US86852AAM71"/>
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      <invstOrSec>
        <name>Arizona Board of Regents, Arizona State University System Revenue Bonds, Series 2021C</name>
        <lei>N/A</lei>
        <title>Arizona Board of Regents, Arizona State University System Revenue Bonds, Series 2021C</title>
        <cusip>040664DM3</cusip>
        <identifiers>
          <isin value="US040664DM38"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Maricopa County Union High School District 216 Agua Fria, Arizona, General Obligation Bonds, School Improvement, Project of 2023, Series 2024A</name>
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        <cusip>567541RX7</cusip>
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          <isin value="US567541RX71"/>
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        <name>Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2019B</name>
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        <cusip>71883MQA5</cusip>
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          <isin value="US71883MQA52"/>
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        <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>Eastmark Community Facilities District 1, Mesa, Arizona, General Obligation Bonds, Series 2015</name>
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        <title>Eastmark Community Facilities District 1, Mesa, Arizona, General Obligation Bonds, Series 2015</title>
        <cusip>277482AS4</cusip>
        <identifiers>
          <isin value="US277482AS41"/>
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        <balance>450000.00000000</balance>
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        <invCountry>US</invCountry>

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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Series 2023A</name>
        <lei>SHB8HO6GKXJ83RX5OV39</lei>
        <title>Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Series 2023A</title>
        <cusip>79574CFM0</cusip>
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          <isin value="US79574CFM01"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Mesa, Arizona, Utility System Revenue Bonds, Series 2022C</name>
        <lei>N/A</lei>
        <title>City of Mesa, Arizona, Utility System Revenue Bonds, Series 2022C</title>
        <cusip>590545Y94</cusip>
        <identifiers>
          <isin value="US590545Y940"/>
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        <balance>1500000.00000000</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>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1</title>
        <cusip>74529JQG3</cusip>
        <identifiers>
          <isin value="US74529JQG30"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>338785.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chandler Industrial Development Authority, Arizona, Industrial Development Revenue Bonds, Intel Corporation Project, Series 2007</name>
        <lei>N/A</lei>
        <title>Chandler Industrial Development Authority, Arizona, Industrial Development Revenue Bonds, Intel Corporation Project, Series 2007</title>
        <cusip>158862CD2</cusip>
        <identifiers>
          <isin value="US158862CD22"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>276888.78000000</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>2037-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Tucson, Arizona, Water System Revenue Bonds, Obligations Series 2024</name>
        <lei>N/A</lei>
        <title>Tucson, Arizona, Water System Revenue Bonds, Obligations Series 2024</title>
        <cusip>898797JW6</cusip>
        <identifiers>
          <isin value="US898797JW64"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1113126.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Villa Montessori, Inc. Projects, Series 2015</name>
        <lei>549300A62PWFBDWB8332</lei>
        <title>Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Villa Montessori, Inc. Projects, Series 2015</title>
        <cusip>71885FED5</cusip>
        <identifiers>
          <isin value="US71885FED50"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Yuma County, Arizona, Pledge Revenue Obligations, Series 2022</name>
        <lei>N/A</lei>
        <title>Yuma County, Arizona, Pledge Revenue Obligations, Series 2022</title>
        <cusip>988636BJ4</cusip>
        <identifiers>
          <isin value="US988636BJ48"/>
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        <balance>840000.00000000</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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        <name>Arizona Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Somerset Academy of Las Vegas ? Aliante and Skye Canyon Campus Pr</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Somerset Academy of Las Vegas ? Aliante and Skye Canyon Campus Pr</title>
        <cusip>04052BMT8</cusip>
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          <isin value="US04052BMT88"/>
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      <invstOrSec>
        <name>Maricopa, Arizona, Pledged Revenue Obligations, Series 2023</name>
        <lei>N/A</lei>
        <title>Maricopa, Arizona, Pledged Revenue Obligations, Series 2023</title>
        <cusip>566732AV5</cusip>
        <identifiers>
          <isin value="US566732AV57"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pima County Unified School District 30 Sahuarita, Arizona, School Improvement Bonds, Series 2024</name>
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        <title>Pima County Unified School District 30 Sahuarita, Arizona, School Improvement Bonds, Series 2024</title>
        <cusip>721864FW1</cusip>
        <identifiers>
          <isin value="US721864FW11"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Legacy Traditional Schools Projects, Series 2016A</name>
        <lei>549300A62PWFBDWB8332</lei>
        <title>Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Legacy Traditional Schools Projects, Series 2016A</title>
        <cusip>71885FFF9</cusip>
        <identifiers>
          <isin value="US71885FFF99"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority, Arizona, Lease Revenue Bonds, Children's National Prince County Regional Medical Center, Series 2020A</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority, Arizona, Lease Revenue Bonds, Children's National Prince County Regional Medical Center, Series 2020A</title>
        <cusip>04052HBF7</cusip>
        <identifiers>
          <isin value="US04052HBF73"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</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>Pima County Unified School District 6 Marana, Arizona, General Obligation Bonds, School Improvement, Project of 2014, Series 2019E</name>
        <lei>N/A</lei>
        <title>Pima County Unified School District 6 Marana, Arizona, General Obligation Bonds, School Improvement, Project of 2014, Series 2019E</title>
        <cusip>721812QC2</cusip>
        <identifiers>
          <isin value="US721812QC23"/>
        </identifiers>
        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>762983.48000000</valUSD>
        <pctVal>0.434231087889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</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>
    </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>2024-11-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Nuveen Multistate Trust I</ncom:nameOfApplicant>
      <ncom:signature>Gina Spunder</ncom:signature>
      <ncom:signerName>Gina Spunder</ncom:signerName>
      <ncom:title>Director, Fund Financial Reporting</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
