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      <invstOrSec>
        <name>LOWER COLORADO RIVER TX AUTH T</name>
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          <isin value="US54811BSJ16"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>UNIV OF N TEXAS TX</name>
        <lei>N/A</lei>
        <title>University of North Texas</title>
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          <isin value="US914729RR10"/>
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          <maturityDt>2027-04-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MASSACHUSETTS ST DEV FIN AGY R</name>
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        <title>Massachusetts Development Finance Agency</title>
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          <isin value="US57584XNQ06"/>
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        <curCd>USD</curCd>
        <valUSD>596975.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MOBILE CNTY AL</name>
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        <valUSD>794480.40000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MAINE ST FIN AUTH SOL WST DISP</name>
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        <title>Finance Authority of Maine</title>
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          <isin value="US56042CAV72"/>
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        <curCd>USD</curCd>
        <valUSD>635662.50000000</valUSD>
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        <invCountry>US</invCountry>

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          <maturityDt>2033-12-15</maturityDt>
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        <name>UNIV OF SOUTH ALABAMA AL UNIV</name>
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        <title>University of South Alabama</title>
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          <isin value="US914845QH87"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>ABAG CA FIN AUTH FOR NONPROFIT</name>
        <lei>549300EWVCCTI6O2KU84</lei>
        <title>Abag Finance Authority for Nonprofit Corps</title>
        <cusip>00037CPN4</cusip>
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          <isin value="US00037CPN47"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.85000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>RHODE ISLAND COMMERCE CORP REV</name>
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          <isin value="US762232BA36"/>
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        <curCd>USD</curCd>
        <valUSD>1009577.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>MICHIGAN ST FIN AUTH REVENUE</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>Michigan Finance Authority</title>
        <cusip>59447PZA2</cusip>
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          <isin value="US59447PZA29"/>
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        <balance>1650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1749924.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <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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        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
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        <title>New Jersey Educational Facilities Authority</title>
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          <isin value="US646066SD30"/>
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        <valUSD>1168970.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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        <title>New Jersey Transportation Trust Fund Authority</title>
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        <name>WEST VIRGINIA ST HOSP FIN AUTH</name>
        <lei>N/A</lei>
        <title>West Virginia Hospital Finance Authority</title>
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          <isin value="US956622R220"/>
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          <maturityDt>2029-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>PHOENIX AZ CIVIC IMPT CORP ARP</name>
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        <name>NORTH CAROLINA ST MED CARE COM</name>
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        <name>VIRGIN ISLANDS PUBLIC FIN AUTH</name>
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        <name>CENTRL TX REGL MOBILITY AUTH R</name>
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        <invCountry>US</invCountry>

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        <name>MISSISSIPPI ST DEV BANK SPL OB</name>
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        <title>Mississippi Development Bank</title>
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        <name>OMAHA NE ARPT AUTH</name>
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        <name>DUPLIN CNTY NC LIMITED OBLIG</name>
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        <name>SAINT LOUIS MO LAND CLEARANCE</name>
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        <name>PADUCAH KY ELEC PLANT BRD REVE</name>
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          <isin value="US695317DZ76"/>
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        <name>DAHLONEGA GA DOWNTOWN DEV AUTH</name>
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        <name>JP MORGAN CHASE PUTTERS/DRIVER</name>
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        <name>GUAM PORT AUTH PORT REVENUE</name>
        <lei>N/A</lei>
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          <isin value="US400652AF06"/>
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        <invCountry>US</invCountry>

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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>HONOLULU CITY &amp; CNTY HI</name>
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          <isin value="US438687GX72"/>
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          <maturityDt>2027-09-01</maturityDt>
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        <name>CONNECTICUT ST HLTH &amp; EDUCTNL</name>
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        <name>MATANUSKA-SUSITNA BORO AK LEAS</name>
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        <name>SAINT LOUIS MO PKG REVENUE</name>
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        <name>WAYNE CNTY MI ARPT AUTH REVENU</name>
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        <name>NEW JERSEY ST ECON DEV AUTH RE</name>
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        <name>CHICAGO IL BRD OF EDU</name>
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        <name>SAN DIEGO CA PUBLIC FACS FING</name>
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        <name>COLORADO ST HLTH FACS AUTH REV</name>
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        <name>CALIFORNIA ST EDUCTNL FACS AUT</name>
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        <name>PADUCAH KY ELEC PLANT BRD REVE</name>
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          <isin value="US695317DY02"/>
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          <isCashCollateral>N</isCashCollateral>
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        <name>COOK CNTY IL</name>
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        <name>CLEVELAND OH INCOME TAX REVENU</name>
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        <name>LOUISIANA ST LOCAL GOVT ENVRNM</name>
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        <name>WESTCHESTER CO NY LOCAL DEV CO</name>
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        <name>ILLINOIS ST DEDICATED TAX REVE</name>
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        <name>PORT FREEPORT TX SENIOR LIEN R</name>
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        <name>GTR ORLANDO FL AVIATION AUTH A</name>
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        <name>LOWER AL GAS DIST GAS PROJ REV</name>
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        <name>CHICAGO IL BRD OF EDU</name>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
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        <name>SANTEE CA CDC SUCCESSOR AGY TA</name>
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        <name>KLICKITAT CNTY WA PUBLIC UTILI</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>ILLINOIS ST FIN AUTH REVENUE</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority</title>
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          <isin value="US45204EAM03"/>
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        <valUSD>522835.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>OREGON ST BUSINESS DEV COMMISS</name>
        <lei>N/A</lei>
        <title>Oregon State Business Development Commission</title>
        <cusip>68608GAD9</cusip>
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          <isin value="US68608GAD97"/>
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        <valUSD>2081340.00000000</valUSD>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>IOWA ST HGR EDU LOAN AUTH</name>
        <lei>549300DWVTM3KRNR0M36</lei>
        <title>Iowa Higher Education Loan Authority</title>
        <cusip>4624606H4</cusip>
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          <isin value="US4624606H42"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>579728.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHICAGO IL WSTWTR TRANSMISSION</name>
        <lei>N/A</lei>
        <title>City of Chicago IL Wastewater Transmission Revenue</title>
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          <isin value="US167727YU47"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1127280.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OKLAHOMA ST DEV FIN AUTH HLTHS</name>
        <lei>549300PXGPHUWC32DJ91</lei>
        <title>Oklahoma Development Finance Authority</title>
        <cusip>67884XCH8</cusip>
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          <isin value="US67884XCH89"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1675140.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>ERIE PA CITY SCH DIST</name>
        <lei>549300VQZWUO5J8WLO42</lei>
        <title>School District of the City of Erie</title>
        <cusip>295425TT9</cusip>
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          <isin value="US295425TT90"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1856475.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GEORGIA ST MUNI ASSN INC COPS</name>
        <lei>N/A</lei>
        <title>Georgia Municipal Association, Inc</title>
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          <isin value="US373283CQ15"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>311205.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BELLINGHAM WA WTR &amp; SWR REVENU</name>
        <lei>N/A</lei>
        <title>City of Bellingham WA Water &amp; Sewer Revenue</title>
        <cusip>079563NF5</cusip>
        <identifiers>
          <isin value="US079563NF50"/>
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        <balance>1855000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1855000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TEXAS ST PRIV ACTIVITY BOND SU</name>
        <lei>N/A</lei>
        <title>Texas Private Activity Bond Surface Transportation Corp</title>
        <cusip>882667AU2</cusip>
        <identifiers>
          <isin value="US882667AU25"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2815225.00000000</valUSD>
        <pctVal>1.041924362729</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CONNECTICUT ST HLTH &amp; EDUCTNL</name>
        <lei>549300ZOQJ5U8YBS5Q35</lei>
        <title>Connecticut State Health &amp; Educational Facilities Authority</title>
        <cusip>20774Y5Y9</cusip>
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          <isin value="US20774Y5Y93"/>
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        <balance>630000.00000000</balance>
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        <valUSD>701353.80000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>COLUMBIA BORO PA</name>
        <lei>N/A</lei>
        <title>Borough of Columbia PA</title>
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          <isin value="US197246BL44"/>
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        <balance>480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>498360.00000000</valUSD>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>CALIFORNIA ST MUNI FIN AUTH SP</name>
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        <title>California Municipal Finance Authority</title>
        <cusip>13050RAA0</cusip>
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          <isin value="US13050RAA05"/>
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        <balance>185000.00000000</balance>
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        <valUSD>185418.10000000</valUSD>
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          <maturityDt>2029-07-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>WEST VIRGINIA ST HGR EDU POLIC</name>
        <lei>N/A</lei>
        <title>West Virginia Higher Education Policy Commission</title>
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          <isin value="US95639RGF01"/>
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        <valUSD>1237980.00000000</valUSD>
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          <maturityDt>2027-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
        <lei>5493000TKYODLXADQD60</lei>
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          <isin value="US59261AAJ60"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1084320.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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          <maturityDt>2025-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CONNECTICUT ST HLTH &amp; EDUCTNL</name>
        <lei>549300ZOQJ5U8YBS5Q35</lei>
        <title>Connecticut State Health &amp; Educational Facilities Authority</title>
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          <isin value="US20774YZ672"/>
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        <balance>350000.00000000</balance>
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        <name>NORTH CAROLINA ST TURNPIKE AUT</name>
        <lei>549300FCT1PN0GJGQ240</lei>
        <title>North Carolina Turnpike Authority</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <debtSec>
          <maturityDt>2022-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ROCK HILL SC UTILITY SYS REVEN</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US772249QS05"/>
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        <balance>170000.00000000</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>2028-01-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SALT LAKE CITY UT ARPT REVENUE</name>
        <lei>N/A</lei>
        <title>Salt Lake City Corp Airport Revenue</title>
        <cusip>795576HB6</cusip>
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          <isin value="US795576HB66"/>
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        <valUSD>556106.25000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>PENNSYLVANIA ST ECON DEV FINGA</name>
        <lei>N/A</lei>
        <title>Pennsylvania Economic Development Financing Authority</title>
        <cusip>70869PJS7</cusip>
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          <isin value="US70869PJS74"/>
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        <curCd>USD</curCd>
        <valUSD>2205200.00000000</valUSD>
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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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      <invstOrSec>
        <name>SOUTH DAKOTA ST HLTH &amp; EDUCTNL</name>
        <lei>549300ZW6LKR8UI2C378</lei>
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          <isin value="US83755VZN71"/>
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        <curCd>USD</curCd>
        <valUSD>553187.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BROADVIEW IL</name>
        <lei>N/A</lei>
        <title>Village of Broadview IL</title>
        <cusip>111349GP5</cusip>
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          <isin value="US111349GP59"/>
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        <balance>545000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>672230.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GUAM PORT AUTH PORT REVENUE</name>
        <lei>N/A</lei>
        <title>Port Authority of Guam</title>
        <cusip>400652AG8</cusip>
        <identifiers>
          <isin value="US400652AG88"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>202228.00000000</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>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BROOKLYN ARENA NY LOCAL DEV CO</name>
        <lei>N/A</lei>
        <title>Brooklyn Arena Local Development Corp</title>
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          <isin value="US113807BB69"/>
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        <curCd>USD</curCd>
        <valUSD>1034150.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LAS VEGAS NV REDEV AGY TAX INC</name>
        <lei>N/A</lei>
        <title>Las Vegas Redevelopment Agency</title>
        <cusip>517732DE0</cusip>
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          <isin value="US517732DE09"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1166440.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ILLINOIS ST</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>State of Illinois</title>
        <cusip>452152D57</cusip>
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          <isin value="US452152D573"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2072360.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp</title>
        <cusip>650116CP9</cusip>
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          <isin value="US650116CP93"/>
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        <balance>715000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>695952.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BROWARD CNTY FL ARPT SYS REVEN</name>
        <lei>N/A</lei>
        <title>County of Broward FL Airport System Revenue</title>
        <cusip>114894XG8</cusip>
        <identifiers>
          <isin value="US114894XG86"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>294012.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHICAGO IL MIDWAY ARPT REVENUE</name>
        <lei>N/A</lei>
        <title>Chicago Midway International Airport</title>
        <cusip>167562QD2</cusip>
        <identifiers>
          <isin value="US167562QD20"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2296600.00000000</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>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AUSTIN TX ARPT SYS REVENUE</name>
        <lei>N/A</lei>
        <title>City of Austin TX Airport System Revenue</title>
        <cusip>052398EQ3</cusip>
        <identifiers>
          <isin value="US052398EQ31"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>989694.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>LUBBOCK TX</name>
        <lei>549300I1QTL3QZV4BX74</lei>
        <title>City of Lubbock TX</title>
        <cusip>549188XA3</cusip>
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          <isin value="US549188XA35"/>
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        <balance>1500000.00000000</balance>
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        <valUSD>1753560.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MET NASHVILLE TN ARPT AUTH ARP</name>
        <lei>549300IC0HNF8TDXEE63</lei>
        <title>Metropolitan Nashville Airport Authority</title>
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        <name>CAPITAL TRUST AGY FL REVENUE</name>
        <lei>549300F49UWS7X0OGQ59</lei>
        <title>Capital Trust Agency, Inc</title>
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          <isin value="US14052WDD65"/>
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        <name>PITTSBURGH PA WTR &amp; SWR AUTH</name>
        <lei>54930034DVH6W22T1E86</lei>
        <title>Pittsburgh Water &amp; Sewer Authority</title>
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        <valUSD>518023.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW JERSEY ST ECON DEV AUTH</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>New Jersey Economic Development Authority</title>
        <cusip>64578EJP3</cusip>
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          <isin value="US64578EJP34"/>
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        <balance>1000000.00000000</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>2027-06-15</maturityDt>
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        <name>NORTHAMPTON TWP PA</name>
        <lei>N/A</lei>
        <title>Township of Northampton PA</title>
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          <isin value="US60534T2F15"/>
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        <name>CAPITAL REGION DEV AUTH</name>
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        <name>INTERLOCKEN CONSOL MET DIST CO</name>
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      <invstOrSec>
        <name>MUNI ELEC AUTH OF GEORGIA</name>
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          <isin value="US626207X418"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MISSISSIPPI ST BUSINESS FIN CO</name>
        <lei>549300DYV074JUDKBQ77</lei>
        <title>Mississippi Business Finance Corp</title>
        <cusip>60528ABS2</cusip>
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          <isin value="US60528ABS24"/>
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        <curCd>USD</curCd>
        <valUSD>4000000.00000000</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>2030-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.79000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST SCH FIN AUTH CHR</name>
        <lei>N/A</lei>
        <title>California School Finance Authority</title>
        <cusip>13058TDB3</cusip>
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          <isin value="US13058TDB35"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

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          <maturityDt>2025-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JEA FL ELEC SYS REVENUE</name>
        <lei>N/A</lei>
        <title>JEA Electric System Revenue</title>
        <cusip>46613CMN2</cusip>
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          <isin value="US46613CMN29"/>
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        <curCd>USD</curCd>
        <valUSD>2000000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.11000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHICAGO IL MET WTR RECLAMATION</name>
        <lei>N/A</lei>
        <title>Metropolitan Water Reclamation District of Greater Chicago</title>
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          <isin value="US167560SZ57"/>
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        <curCd>USD</curCd>
        <valUSD>2333400.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TOLEDO OH</name>
        <lei>549300I365GIDPR4BM68</lei>
        <title>City of Toledo OH</title>
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          <isin value="US889278XX05"/>
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        <curCd>USD</curCd>
        <valUSD>279072.00000000</valUSD>
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        <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>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>PEND OREILLE CNTY WA PUBLIC UT</name>
        <lei>N/A</lei>
        <title>Pend Oreille County Public Utility District No  Box Canyon</title>
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          <isin value="US706643CT83"/>
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        <curCd>USD</curCd>
        <valUSD>1195990.00000000</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>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>BROWARD CNTY FL SCH BRD COPS</name>
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        <title>School District of Broward County</title>
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          <isin value="US115065ZB30"/>
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        <curCd>USD</curCd>
        <valUSD>593705.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RHODE ISLAND ST HLTH &amp; EDUCTNL</name>
        <lei>N/A</lei>
        <title>Rhode Island Health &amp; Educational Building Corp</title>
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          <isin value="US762196JF11"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>HOUSTON TX</name>
        <lei>549300C64URYS0WQQY42</lei>
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          <isin value="US442331U851"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CENTRL TX REGL MOBILITY AUTH R</name>
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          <isin value="US155498FU75"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>LANSING MI CMNTY CLG</name>
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        <title>Lansing Community College</title>
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          <isin value="US516408JR37"/>
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        <name>WAYNE CNTY MI ARPT AUTH REVENU</name>
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          <isin value="US944514ZW19"/>
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        <name>PORT FREEPORT TX SENIOR LIEN R</name>
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      <invstOrSec>
        <name>LANSING MI CMNTY CLG</name>
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          <isin value="US516408JW22"/>
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        <balance>275000.00000000</balance>
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        <name>MISSOURI ST HLTH &amp; EDUCTNL FAC</name>
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      <invstOrSec>
        <name>CHICAGO IL HSG AUTH</name>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>DAHLONEGA GA DOWNTOWN DEV AUTH</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
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        <name>OREGON ST BUSINESS DEV COMMISS</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>BIRMINGHAM AL</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BROOKLYN ARENA NY LOCAL DEV CO</name>
        <lei>N/A</lei>
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          <isin value="US113807BC43"/>
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        <valUSD>1034790.00000000</valUSD>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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        <name>PINAL CNTY AZ ELEC DIST #3</name>
        <lei>N/A</lei>
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          <isin value="US722021CD23"/>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>N TX TOLLWAY AUTH REVENUE</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
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          <isin value="US66285WYM27"/>
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        <invCountry>US</invCountry>

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          <maturityDt>2025-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>BALTIMORE CNTY MD REVENUE</name>
        <lei>N/A</lei>
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          <isin value="US059151CW86"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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        <name>UNIV OF CONNECTICUT CT</name>
        <lei>N/A</lei>
        <title>University of Connecticut</title>
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          <isin value="US914233F305"/>
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        <invCountry>US</invCountry>

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          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>PHILADELPHIA PA</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>VOLUSIA CNTY FL EDUCTNL FAC AU</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PORT AUTH OF NEW YORK &amp; NEW JE</name>
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        <name>CHICAGO IL O'HARE INTERNATIONA</name>
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        <name>DENVER CITY &amp; CNTY CO ARPT REV</name>
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        <name>SAINT LOUIS MO PKG REVENUE</name>
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        <name>NORTH CAROLINA ST MED CARE COM</name>
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        <name>HILLSBOROUGH CNTY FL PORT DIST</name>
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        <name>SALT LAKE CITY UT ARPT REVENUE</name>
        <lei>N/A</lei>
        <title>Salt Lake City Corp Airport Revenue</title>
        <cusip>795576HC4</cusip>
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          <isin value="US795576HC40"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ESCAMBIA CNTY FL HLTH FACS AUT</name>
        <lei>N/A</lei>
        <title>Escambia County Health Facilities Authority</title>
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          <isin value="US296110FU83"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3555330.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SALT LAKE CITY UT ARPT REVENUE</name>
        <lei>N/A</lei>
        <title>Salt Lake City Corp Airport Revenue</title>
        <cusip>795576HD2</cusip>
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          <isin value="US795576HD23"/>
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        <curCd>USD</curCd>
        <valUSD>1162860.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HILLSBOROUGH CNTY FL AVIATION</name>
        <lei>N/A</lei>
        <title>Hillsborough County Aviation Authority</title>
        <cusip>432308K94</cusip>
        <identifiers>
          <isin value="US432308K944"/>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>221625.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NTHRN MN MUNI PWR AGY ELEC SYS</name>
        <lei>N/A</lei>
        <title>Northern Municipal Power Agency</title>
        <cusip>665444JZ9</cusip>
        <identifiers>
          <isin value="US665444JZ95"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>597060.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DENVER CO HLTH &amp; HOSP AUTH COP</name>
        <lei>549300WFV5S7GIR4OS67</lei>
        <title>Denver Health &amp; Hospital Authority</title>
        <cusip>24918TAJ6</cusip>
        <identifiers>
          <isin value="US24918TAJ60"/>
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        <balance>310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>383997.00000000</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>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FORT SMITH AR WTR &amp; SWR REVENU</name>
        <lei>N/A</lei>
        <title>City of Fort Smith AR Water &amp; Sewer Revenue</title>
        <cusip>348815PJ4</cusip>
        <identifiers>
          <isin value="US348815PJ42"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1245730.00000000</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>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALACHUA CNTY FL HLTH FACS AUTH</name>
        <lei>N/A</lei>
        <title>Alachua County Health Facilities Authority</title>
        <cusip>010685KW4</cusip>
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          <isin value="US010685KW43"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1229560.00000000</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>2031-12-01</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>LOUISIANA ST</name>
        <lei>N/A</lei>
        <title>State of Louisiana</title>
        <cusip>5464152J8</cusip>
        <identifiers>
          <isin value="US5464152J89"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1217610.00000000</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>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MAIN STREET NATURAL GAS INC GA</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
        <title>Main Street Natural Gas, Inc</title>
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          <isin value="US56035DCH35"/>
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        <balance>1020000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1088360.40000000</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>2049-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DIST OF COLUMBIA UNIV REVENUE</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>District of Columbia</title>
        <cusip>25484JCT5</cusip>
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          <isin value="US25484JCT51"/>
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        <balance>955000.00000000</balance>
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        <valUSD>1135007.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHICAGO IL TRANSIT AUTH CAPITA</name>
        <lei>549300CB8XLRGIPN3E12</lei>
        <title>Chicago Transit Authority</title>
        <cusip>167723GN9</cusip>
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          <isin value="US167723GN91"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1157340.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTH JERSEY NJ PORT CORP</name>
        <lei>N/A</lei>
        <title>South Jersey Port Corp</title>
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          <isin value="US838530RH87"/>
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        <balance>500000.00000000</balance>
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        <valUSD>517185.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
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          <isin value="US6461363L36"/>
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        <assetCat>DBT</assetCat>
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          <maturityDt>2029-06-15</maturityDt>
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        <name>PORT SAINT LUCIE FL CMNTY REDE</name>
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          <isin value="US735357BY09"/>
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        <invCountry>US</invCountry>

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          <maturityDt>2026-01-01</maturityDt>
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        <name>HILLSBOROUGH CNTY FL PORT DIST</name>
        <lei>549300HV3CIZREMO9Q36</lei>
        <title>Hillsborough County Port District</title>
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          <isin value="US432325JK59"/>
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        <name>HAWAII ST ARPTS SYS REVENUE</name>
        <lei>N/A</lei>
        <title>State of Hawaii Airports System Revenue</title>
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          <isin value="US419794ZN55"/>
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        <invCountry>US</invCountry>

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          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>AUSTIN CONVENTION ENTERPRISES</name>
        <lei>N/A</lei>
        <title>Austin Convention Enterprises, Inc</title>
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          <isin value="US052409DW64"/>
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        <balance>800000.00000000</balance>
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        <valUSD>806424.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHICAGO IL O'HARE INTERNATIONA</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
        <lei>N/A</lei>
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          <isin value="US650116BP03"/>
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        <curCd>USD</curCd>
        <valUSD>993100.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>PALMDALE CA CMNTY REDEV AGY SU</name>
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          <isin value="US69672FAK49"/>
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        <curCd>USD</curCd>
        <valUSD>537183.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHANDLER AZ INDL DEV AUTH INDL</name>
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          <isin value="US158862BZ43"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2216000.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHICAGO IL WSTWTR TRANSMISSION</name>
        <lei>N/A</lei>
        <title>City of Chicago IL Wastewater Transmission Revenue</title>
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          <isin value="US167727YV20"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1150620.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHICAGO IL WSTWTR TRANSMISSION</name>
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        <title>City of Chicago IL Wastewater Transmission Revenue</title>
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          <isin value="US167727YR18"/>
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        <curCd>USD</curCd>
        <valUSD>529255.00000000</valUSD>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-01</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>
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      <invstOrSec>
        <name>WEST VIRGINIA ST HOSP FIN AUTH</name>
        <lei>N/A</lei>
        <title>West Virginia Hospital Finance Authority</title>
        <cusip>956622R30</cusip>
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          <isin value="US956622R303"/>
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        <balance>1215000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1493903.25000000</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>2030-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ILLINOIS ST FIN AUTH REVENUE</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority</title>
        <cusip>45204EAL2</cusip>
        <identifiers>
          <isin value="US45204EAL20"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>412704.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHICAGO IL</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
        <title>City of Chicago IL, GO</title>
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          <isin value="US167486VQ96"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>513815.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALLEGHENY CNTY PA HGR EDU BLDG</name>
        <lei>N/A</lei>
        <title>Allegheny County Higher Education Building Authority</title>
        <cusip>01728RLK3</cusip>
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          <isin value="US01728RLK31"/>
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        <balance>1100000.00000000</balance>
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        <valUSD>1265396.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>BROADVIEW IL</name>
        <lei>N/A</lei>
        <title>Village of Broadview IL</title>
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          <isin value="US111349GS98"/>
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        <balance>745000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>908177.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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        <name>HAWAII ST ARPTS SYS REVENUE</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US419794ZS43"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1153640.00000000</valUSD>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHICAGO IL</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
        <title>City of Chicago IL</title>
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          <isin value="US167486G293"/>
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          <maturityDt>2028-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NORTH DAKOTA ST HSG FIN AGY</name>
        <lei>549300DVQAGW0B16JX70</lei>
        <title>North Dakota Housing Finance Agency</title>
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          <isin value="US658909KN57"/>
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          <maturityDt>2026-01-01</maturityDt>
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          <annualizedRt>2.40000000</annualizedRt>
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      <invstOrSec>
        <name>CHARLOTTE-MECKLENBURG NC HOSP</name>
        <lei>549300XOH4JU704GMZ32</lei>
        <title>The Charlotte-Mecklenburg Hospital Authority</title>
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          <isin value="US160853TV93"/>
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        <valUSD>1200830.00000000</valUSD>
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          <maturityDt>2026-01-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MICHIGAN ST HSG DEV AUTH</name>
        <lei>549300NSWW1HVXE93T03</lei>
        <title>Michigan State Housing Development Authority</title>
        <cusip>5946534S3</cusip>
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          <isin value="US5946534S34"/>
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        <balance>3000000.00000000</balance>
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        <valUSD>3000000.00000000</valUSD>
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        <debtSec>
          <maturityDt>2038-06-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>DALLAS CNTY TX UTILITY &amp; RECLA</name>
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          <isin value="US234839PJ12"/>
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        <balance>550000.00000000</balance>
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        <valUSD>659136.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>OHIO ST HOSP REVENUE</name>
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        <name>CALIFORNIA STWD CMNTYS DEV AUT</name>
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        <name>PORT FREEPORT TX SENIOR LIEN R</name>
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          <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>TENNESSEE ST ENERGY ACQUISITIO</name>
        <lei>549300OJ2Z8PGEY46K92</lei>
        <title>Tennessee Energy Acquisition Corp</title>
        <cusip>880443JE7</cusip>
        <identifiers>
          <isin value="US880443JE70"/>
        </identifiers>
        <balance>755000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>784686.60000000</valUSD>
        <pctVal>0.290415183740</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-01</maturityDt>
          <couponKind>Variable</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>NEW ORLEANS LA AVIATION BRD SP</name>
        <lei>N/A</lei>
        <title>New Orleans Aviation Board</title>
        <cusip>64763KAV0</cusip>
        <identifiers>
          <isin value="US64763KAV08"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>622580.00000000</valUSD>
        <pctVal>0.230418978855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-01</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>CALIFORNIA ST HLTH FACS FING A</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority</title>
        <cusip>13032USD1</cusip>
        <identifiers>
          <isin value="US13032USD18"/>
        </identifiers>
        <balance>1510000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1836582.80000000</valUSD>
        <pctVal>0.679725550707</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</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>PORT FREEPORT TX SENIOR LIEN R</name>
        <lei>N/A</lei>
        <title>Port Freeport TX</title>
        <cusip>73412PBK8</cusip>
        <identifiers>
          <isin value="US73412PBK84"/>
        </identifiers>
        <balance>865000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1078758.80000000</valUSD>
        <pctVal>0.399252306735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-03-31</ncom:dateSigned>
      <ncom:nameOfApplicant>TIAA-CREF Funds</ncom:nameOfApplicant>
      <ncom:signature>E. Scott Wickerham</ncom:signature>
      <ncom:signerName>E. Scott Wickerham</ncom:signerName>
      <ncom:title>Funds Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
