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        <name>San Diego County Regional Airport Authority</name>
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        <name>CMFA Special Finance Agency XII</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>City of Los Angeles CA Wastewater System Revenue</name>
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        <name>Palomar Community College District</name>
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        <name>City of Long Beach CA Harbor Revenue</name>
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        <name>Murrieta Valley Unified School District</name>
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        <name>Golden State Tobacco Securitization Corp.</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>Transbay Joint Powers Authority</name>
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        <name>Lassen Municipal Utility District</name>
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        <name>Foothill-Eastern Transportation Corridor Agency</name>
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        <name>California Enterprise Development Authority</name>
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        <name>California Affordable Housing Agency</name>
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        <name>State of California</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Educational Facilities Authority</name>
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        <name>Riverside County Asset Leasing Corp.</name>
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        <name>City of Vernon CA Electric System Revenue</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California School Finance Authority</name>
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        <name>Temescal Valley Water District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>City of Newport Beach CA</name>
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        <name>Elk Grove Finance Authority</name>
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      <invstOrSec>
        <name>Rocklin Unified School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
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        <name>Perris Union High School District</name>
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        <name>River Islands Public Financing Authority</name>
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        <name>Temescal Valley Water District</name>
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        <name>Patterson Joint Unified School District</name>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>Romoland School District</name>
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      <invstOrSec>
        <name>Rocklin Unified School District</name>
        <lei>N/A</lei>
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        <name>Placentia-Yorba Linda Unified School District</name>
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        <name>San Diego Unified School District</name>
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        <name>Orange County Community Facilities District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>City of Long Beach CA Harbor Revenue</name>
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        <name>East Bay Municipal Utility District Water System Revenue</name>
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        <name>Los Rios Community College District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Fowler Unified School District</name>
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        <name>California School Finance Authority</name>
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        <name>Corona-Norco Unified School District</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>San Diego Unified School District</name>
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        <name>Foothill-Eastern Transportation Corridor Agency</name>
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        <name>Tracy Community Facilities District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Antonio B Won Pat International Airport Authority</name>
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        <name>Alameda Corridor Transportation Authority</name>
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        <name>Oceanside Unified School District</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Long Beach Bond Finance Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>State of California</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Coachella Valley Unified School District</name>
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          <maturityDt>2034-08-15</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>Hacienda La Puente Unified School District</name>
        <lei>N/A</lei>
        <title>Hacienda La Puente Unified School District, Series 2017 A</title>
        <cusip>40450REE7</cusip>
        <identifiers>
          <isin value="US40450REE71"/>
          <other otherDesc="Inhouse Asset ID" value="669290"/>
        </identifiers>
        <balance>655000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>629629.10000000</valUSD>
        <pctVal>0.004471840661</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Los Angeles County Sanitation Districts Financing Authority</name>
        <lei>N/A</lei>
        <title>Los Angeles County Sanitation Districts Financing Authority, Series 2016 A</title>
        <cusip>545149KM7</cusip>
        <identifiers>
          <isin value="US545149KM73"/>
          <other otherDesc="Inhouse Asset ID" value="648337"/>
        </identifiers>
        <balance>16430000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16128350.13000000</valUSD>
        <pctVal>0.114549044697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Sacramento CA Transient Occupancy Tax Revenue</name>
        <lei>N/A</lei>
        <title>City of Sacramento, Series 2018 A</title>
        <cusip>786073AW6</cusip>
        <identifiers>
          <isin value="US786073AW65"/>
          <other otherDesc="Inhouse Asset ID" value="939699"/>
        </identifiers>
        <balance>19830000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20803936.57000000</valUSD>
        <pctVal>0.147756654638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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 Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority, Series 2020</title>
        <cusip>13032UYK8</cusip>
        <identifiers>
          <isin value="US13032UYK86"/>
          <other otherDesc="Inhouse Asset ID" value="1122275"/>
        </identifiers>
        <balance>850000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>880108.19000000</valUSD>
        <pctVal>0.006250828608</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-01</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 Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>California Educational Facilities Authority, Series 2018 A</title>
        <cusip>130179RK2</cusip>
        <identifiers>
          <isin value="US130179RK23"/>
          <other otherDesc="Inhouse Asset ID" value="943356"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10666552.00000000</valUSD>
        <pctVal>0.075757491124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-10-01</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>Perris Joint Powers Authority</name>
        <lei>549300YM04SQ63RR8P86</lei>
        <title>Perris Joint Powers Authority, Series 2021</title>
        <cusip>714376UD0</cusip>
        <identifiers>
          <isin value="US714376UD03"/>
          <other otherDesc="Inhouse Asset ID" value="1181333"/>
        </identifiers>
        <balance>1445000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1300654.33000000</valUSD>
        <pctVal>0.009237690760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Murrieta Valley Unified School District</name>
        <lei>N/A</lei>
        <title>Murrieta Valley Unified School District, Series 2021</title>
        <cusip>62719HS54</cusip>
        <identifiers>
          <isin value="US62719HS544"/>
          <other otherDesc="Inhouse Asset ID" value="1160962"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>442191.05000000</valUSD>
        <pctVal>0.003140591687</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063DD39</cusip>
        <identifiers>
          <isin value="US13063DD399"/>
          <other otherDesc="Inhouse Asset ID" value="1194039"/>
        </identifiers>
        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15407502.00000000</valUSD>
        <pctVal>0.109429335366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-01</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>City of Fontana CA</name>
        <lei>N/A</lei>
        <title>City of Fontana, Series 2020</title>
        <cusip>344630XR4</cusip>
        <identifiers>
          <isin value="US344630XR44"/>
          <other otherDesc="Inhouse Asset ID" value="1117037"/>
        </identifiers>
        <balance>1100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>994068.46000000</valUSD>
        <pctVal>0.007060213322</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Three Rivers Levee Improvement Authority</name>
        <lei>N/A</lei>
        <title>Three Rivers Levee Improvement Authority, Series 2021 A</title>
        <cusip>88563DAJ4</cusip>
        <identifiers>
          <isin value="US88563DAJ46"/>
          <other otherDesc="Inhouse Asset ID" value="1160115"/>
        </identifiers>
        <balance>220000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>218675.42000000</valUSD>
        <pctVal>0.001553107432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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>Los Angeles Department of Water</name>
        <lei>N/A</lei>
        <title>Los Angeles Department of Water &amp; Power, Series 2014 A</title>
        <cusip>544525TL2</cusip>
        <identifiers>
          <isin value="US544525TL23"/>
          <other otherDesc="Inhouse Asset ID" value="591466"/>
        </identifiers>
        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>51994105.00000000</valUSD>
        <pctVal>0.369279871138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</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>Coalinga-Huron Joint Unified School District</name>
        <lei>N/A</lei>
        <title>Coalinga-Huron Joint Unified School District, Series B</title>
        <cusip>190222GQ6</cusip>
        <identifiers>
          <isin value="US190222GQ62"/>
          <other otherDesc="Inhouse Asset ID" value="871729"/>
        </identifiers>
        <balance>13210000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13979115.26000000</valUSD>
        <pctVal>0.099284445454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</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>State of California</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063DVC9</cusip>
        <identifiers>
          <isin value="US13063DVC90"/>
          <other otherDesc="Inhouse Asset ID" value="1202480"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10301087.00000000</valUSD>
        <pctVal>0.073161834018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
        <title>University of California, Series 2018 O</title>
        <cusip>91412HDA8</cusip>
        <identifiers>
          <isin value="US91412HDA86"/>
          <other otherDesc="Inhouse Asset ID" value="941150"/>
        </identifiers>
        <balance>30120000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32634288.08000000</valUSD>
        <pctVal>0.231779846905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-15</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>West Basin Municipal Water District</name>
        <lei>54930017XCXSHT6Y5458</lei>
        <title>West Basin Municipal Water District, Series 2021 A</title>
        <cusip>951254CZ2</cusip>
        <identifiers>
          <isin value="US951254CZ20"/>
          <other otherDesc="Inhouse Asset ID" value="1150235"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1096754.40000000</valUSD>
        <pctVal>0.007789523898</pctVal>
        <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>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2022-09-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin California Tax Free Income Fund</ncom:nameOfApplicant>
      <ncom:signature>Jeffrey W. White </ncom:signature>
      <ncom:signerName>Jeffrey W. White </ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
