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          <isin value="US491309CS70"/>
          <ticker value="KYSSFH"/>
          <other otherDesc="Internal" value="491309CS"/>
        </identifiers>
        <balance>345000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>347297.7</valUSD>
        <pctVal>1.0987661667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</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>KENTUCKY HSG CORP</name>
        <lei>549300NTBUU903EKQ287</lei>
        <title>KY KYSSFH 3.85 07/01/2029</title>
        <cusip>491309CU2</cusip>
        <identifiers>
          <isin value="US491309CU27"/>
          <ticker value="KYSSFH"/>
          <other otherDesc="Internal" value="491309CU"/>
        </identifiers>
        <balance>450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>453879</valUSD>
        <pctVal>1.4359636962</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.850000000000</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>KENTUCKY HSG CORP</name>
        <lei>549300NTBUU903EKQ287</lei>
        <title>KY KYSSFH 3.35 07/01/2029</title>
        <cusip>491309DX5</cusip>
        <identifiers>
          <isin value="US491309DX56"/>
          <ticker value="KYSSFH"/>
          <other otherDesc="Internal" value="491309DX"/>
        </identifiers>
        <balance>305000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>299476.45</valUSD>
        <pctVal>0.9474712645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.350000000000</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>KENTUCKY HSG CORP</name>
        <lei>549300NTBUU903EKQ287</lei>
        <title>KY KYSSFH 3.4 07/01/2030</title>
        <cusip>491309DZ0</cusip>
        <identifiers>
          <isin value="US491309DZ05"/>
          <ticker value="KYSSFH"/>
          <other otherDesc="Internal" value="491309DZ"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>195108</valUSD>
        <pctVal>0.6172746587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.400000000000</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>KENTUCKY ASSET / LIABILITY COMMN</name>
        <lei>N/A</lei>
        <title>KY KSYGEN 5 09/01/2026</title>
        <cusip>49118NER2</cusip>
        <identifiers>
          <isin value="US49118NER26"/>
          <ticker value="KSYGEN"/>
          <other otherDesc="Internal" value="49118NER"/>
        </identifiers>
        <balance>565000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>565960.5</valUSD>
        <pctVal>1.7905625320</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>KENTUCKY ASSET / LIABILITY COMMN</name>
        <lei>N/A</lei>
        <title>KY KSYGEN 5 09/01/2024</title>
        <cusip>49118NFG5</cusip>
        <identifiers>
          <isin value="US49118NFG51"/>
          <ticker value="KSYGEN"/>
          <other otherDesc="Internal" value="49118NFG"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500990</valUSD>
        <pctVal>1.5850115386</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>KENTUCKY ASSET / LIABILITY COMMN</name>
        <lei>N/A</lei>
        <title>KY KSYGEN 5 09/01/2026</title>
        <cusip>49118NFJ9</cusip>
        <identifiers>
          <isin value="US49118NFJ90"/>
          <ticker value="KSYGEN"/>
          <other otherDesc="Internal" value="49118NFJ"/>
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        <balance>330000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>335062.2</valUSD>
        <pctVal>1.0600559954</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>KENTUCKY ASSET / LIABILITY COMMN</name>
        <lei>N/A</lei>
        <title>KY KSYGEN 5 09/01/2024</title>
        <cusip>49118NFY6</cusip>
        <identifiers>
          <isin value="US49118NFY67"/>
          <ticker value="KSYGEN"/>
          <other otherDesc="Internal" value="49118NFY"/>
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        <balance>330000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>330739.2</valUSD>
        <pctVal>1.0463790660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>KENTUCKY ST TPK AUTH</name>
        <lei>N/A</lei>
        <title>KY KYSTRN 5 07/01/2024</title>
        <cusip>491552J55</cusip>
        <identifiers>
          <isin value="US491552J558"/>
          <ticker value="KYSTRN"/>
          <other otherDesc="Internal" value="491552J5"/>
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        <balance>1175000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1175152.75</valUSD>
        <pctVal>3.7178998950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>KENTUCKY ST TPK AUTH</name>
        <lei>N/A</lei>
        <title>KY KYSTRN 5 07/01/2025</title>
        <cusip>491552J63</cusip>
        <identifiers>
          <isin value="US491552J632"/>
          <ticker value="KYSTRN"/>
          <other otherDesc="Internal" value="491552J6"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>304956</valUSD>
        <pctVal>0.9648072392</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KENTUCKY ST TPK AUTH</name>
        <lei>N/A</lei>
        <title>KY KYSTRN 5 07/01/2026</title>
        <cusip>491552Q73</cusip>
        <identifiers>
          <isin value="US491552Q736"/>
          <ticker value="KYSTRN"/>
          <other otherDesc="Internal" value="491552Q7"/>
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        <balance>1385000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1429569.3</valUSD>
        <pctVal>4.5228125028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>EASTERN KY UNIV</name>
        <lei>N/A</lei>
        <title>KY EKYHGR 5 10/01/2026</title>
        <cusip>276552GD2</cusip>
        <identifiers>
          <isin value="US276552GD23"/>
          <ticker value="EKYHGR"/>
          <other otherDesc="Internal" value="276552GD"/>
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        <balance>655000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>676700.15</valUSD>
        <pctVal>2.1409160781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KENTUCKY BD DEV CORP</name>
        <lei>N/A</lei>
        <title>KY KSYEDU 4 06/01/2029</title>
        <cusip>49120ABA6</cusip>
        <identifiers>
          <isin value="US49120ABA60"/>
          <ticker value="KSYEDU"/>
          <other otherDesc="Internal" value="49120ABA"/>
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        <balance>320000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>326156.8</valUSD>
        <pctVal>1.0318814575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KENTUCKY BD DEV CORP</name>
        <lei>N/A</lei>
        <title>KY KSYEDU 4 06/01/2030</title>
        <cusip>49120ABB4</cusip>
        <identifiers>
          <isin value="US49120ABB44"/>
          <ticker value="KSYEDU"/>
          <other otherDesc="Internal" value="49120ABB"/>
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        <balance>170000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>172867.9</valUSD>
        <pctVal>0.5469123459</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>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY KY GEN RCPTS</name>
        <lei>549300CXE3YQ1HXYCQ71</lei>
        <title>KY UKYHGR 4 10/01/2030</title>
        <cusip>914378MC5</cusip>
        <identifiers>
          <isin value="US914378MC57"/>
          <ticker value="UKYHGR"/>
          <other otherDesc="Internal" value="914378MC"/>
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        <balance>90000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>90649.8</valUSD>
        <pctVal>0.2867941056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY KY GEN RCPTS</name>
        <lei>549300CXE3YQ1HXYCQ71</lei>
        <title>KY UKYHGR 4 10/01/2032</title>
        <cusip>914378ME1</cusip>
        <identifiers>
          <isin value="US914378ME14"/>
          <ticker value="UKYHGR"/>
          <other otherDesc="Internal" value="914378ME"/>
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        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>754395</valUSD>
        <pctVal>2.3867238462</pctVal>
        <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>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY KY GEN RCPTS</name>
        <lei>549300CXE3YQ1HXYCQ71</lei>
        <title>KY UKYHGR 3 04/01/2025</title>
        <cusip>914378PK4</cusip>
        <identifiers>
          <isin value="US914378PK47"/>
          <ticker value="UKYHGR"/>
          <other otherDesc="Internal" value="914378PK"/>
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        <balance>240000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>238977.6</valUSD>
        <pctVal>0.7560674933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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 LOUISVILLE KY</name>
        <lei>N/A</lei>
        <title>KY ULVHGR 4 09/01/2030</title>
        <cusip>914391V61</cusip>
        <identifiers>
          <isin value="US914391V613"/>
          <ticker value="ULVHGR"/>
          <other otherDesc="Internal" value="914391V6"/>
        </identifiers>
        <balance>745000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>764235.9</valUSD>
        <pctVal>2.4178580805</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>HENDERSON KY</name>
        <lei>549300UJ32J1O26W1T80</lei>
        <title>KY HEN 4 06/01/2028</title>
        <cusip>425074NP2</cusip>
        <identifiers>
          <isin value="US425074NP22"/>
          <ticker value="HEN"/>
          <other otherDesc="Internal" value="425074NP"/>
        </identifiers>
        <balance>385000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>394124.5</valUSD>
        <pctVal>1.2469148689</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>4.000000000000</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>HENDERSON KY</name>
        <lei>549300UJ32J1O26W1T80</lei>
        <title>KY HEN 5 09/01/2029</title>
        <cusip>425074MQ1</cusip>
        <identifiers>
          <isin value="US425074MQ14"/>
          <ticker value="HEN"/>
          <other otherDesc="Internal" value="425074MQ"/>
        </identifiers>
        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>652296</valUSD>
        <pctVal>2.0637072329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>SOMERSET KY</name>
        <lei>N/A</lei>
        <title>KY SOM 5 06/01/2028</title>
        <cusip>834749DN0</cusip>
        <identifiers>
          <isin value="US834749DN08"/>
          <ticker value="SOM"/>
          <other otherDesc="Internal" value="834749DN"/>
        </identifiers>
        <balance>605000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>644621.45</valUSD>
        <pctVal>2.0394268075</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>5.000000000000</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>SOMERSET KY</name>
        <lei>N/A</lei>
        <title>KY SOM 5 06/01/2029</title>
        <cusip>834749DP5</cusip>
        <identifiers>
          <isin value="US834749DP55"/>
          <ticker value="SOM"/>
          <other otherDesc="Internal" value="834749DP"/>
        </identifiers>
        <balance>380000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>411110.6</valUSD>
        <pctVal>1.3006547928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>KENTON CNTY KY ARPT BRD</name>
        <lei>N/A</lei>
        <title>KY KENAPT 5 01/01/2026</title>
        <cusip>491026UN8</cusip>
        <identifiers>
          <isin value="US491026UN83"/>
          <ticker value="KENAPT"/>
          <other otherDesc="Internal" value="491026UN"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>512705</valUSD>
        <pctVal>1.6220749734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>5.000000000000</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>WARREN CNTY KY</name>
        <lei>N/A</lei>
        <title>KY WARMED 5 04/01/2032</title>
        <cusip>934864BJ7</cusip>
        <identifiers>
          <isin value="US934864BJ78"/>
          <ticker value="WARMED"/>
          <other otherDesc="Internal" value="934864BJ"/>
        </identifiers>
        <balance>1200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1337700</valUSD>
        <pctVal>4.2321601933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>KENTUCKY ASSN OF CNTYS FIN CORP</name>
        <lei>N/A</lei>
        <title>KY KYSGEN 4 02/01/2029</title>
        <cusip>491197BW8</cusip>
        <identifiers>
          <isin value="US491197BW88"/>
          <ticker value="KYSGEN"/>
          <other otherDesc="Internal" value="491197BW"/>
        </identifiers>
        <balance>630000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>648906.3</valUSD>
        <pctVal>2.0529830396</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>KENTUCKY ASSN OF CNTYS FIN CORP</name>
        <lei>N/A</lei>
        <title>KY KYSGEN 5 02/01/2030</title>
        <cusip>491197HX0</cusip>
        <identifiers>
          <isin value="US491197HX08"/>
          <ticker value="KYSGEN"/>
          <other otherDesc="Internal" value="491197HX"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>270337.5</valUSD>
        <pctVal>0.8552826540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>CAMPBELL &amp; KENTON CNTYS KY SANTN DIST NO 1</name>
        <lei>N/A</lei>
        <title>KY CAMUTL 4 08/01/2031</title>
        <cusip>134041JF0</cusip>
        <identifiers>
          <isin value="US134041JF02"/>
          <ticker value="CAMUTL"/>
          <other otherDesc="Internal" value="134041JF"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1010980</valUSD>
        <pctVal>3.1984969068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>KENTUCKY RURAL WTR FIN CORP</name>
        <lei>N/A</lei>
        <title>KY KYSWTR 5 08/01/2029</title>
        <cusip>49140NJH1</cusip>
        <identifiers>
          <isin value="US49140NJH17"/>
          <ticker value="KYSWTR"/>
          <other otherDesc="Internal" value="49140NJH"/>
        </identifiers>
        <balance>595000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>644938.35</valUSD>
        <pctVal>2.0404294027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>NORTHERN KY WTR DIST</name>
        <lei>N/A</lei>
        <title>KY NKYWTR 5 02/01/2026</title>
        <cusip>665306LK0</cusip>
        <identifiers>
          <isin value="US665306LK04"/>
          <ticker value="NKYWTR"/>
          <other otherDesc="Internal" value="665306LK"/>
        </identifiers>
        <balance>815000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>814991.85</valUSD>
        <pctVal>2.5784376657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>KENTUCKY BD DEV CORP</name>
        <lei>N/A</lei>
        <title>KY KYSGEN 5 09/01/2026</title>
        <cusip>491214BF8</cusip>
        <identifiers>
          <isin value="US491214BF88"/>
          <ticker value="KYSGEN"/>
          <other otherDesc="Internal" value="491214BF"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1026670</valUSD>
        <pctVal>3.2481362829</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>LOUISVILLE &amp; JEFFERSON CNTY KY VISITORS &amp; CONVENTION COMMN</name>
        <lei>N/A</lei>
        <title>KY LOUFAC 4 06/01/2029</title>
        <cusip>546604GA1</cusip>
        <identifiers>
          <isin value="US546604GA12"/>
          <ticker value="LOUFAC"/>
          <other otherDesc="Internal" value="546604GA"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1006980</valUSD>
        <pctVal>3.1858418714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>RIVER CITY INC KY</name>
        <lei>N/A</lei>
        <title>KY PKRTRN 5 12/01/2024</title>
        <cusip>76804ACS2</cusip>
        <identifiers>
          <isin value="US76804ACS24"/>
          <ticker value="PKRTRN"/>
          <other otherDesc="Internal" value="76804ACS"/>
        </identifiers>
        <balance>340000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>342346</valUSD>
        <pctVal>1.0831001821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>ANDERSON CNTY KY SCH DIST FIN CORP</name>
        <lei>N/A</lei>
        <title>KY ANDEDU 3 02/01/2029</title>
        <cusip>033678PK3</cusip>
        <identifiers>
          <isin value="US033678PK35"/>
          <ticker value="ANDEDU"/>
          <other otherDesc="Internal" value="033678PK"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>484920</valUSD>
        <pctVal>1.5341699342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>BOONE CNTY KY SCH DIST FIN CORP</name>
        <lei>N/A</lei>
        <title>KY BOOEDU 4 06/01/2029</title>
        <cusip>0988254P4</cusip>
        <identifiers>
          <isin value="US0988254P40"/>
          <ticker value="BOOEDU"/>
          <other otherDesc="Internal" value="0988254P"/>
        </identifiers>
        <balance>450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>459679.5</valUSD>
        <pctVal>1.4543150793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>BOWLING GREEN KY INDPT SCH DIST FIN CORP</name>
        <lei>N/A</lei>
        <title>KY BOWEDU 5 08/01/2027</title>
        <cusip>102669KQ0</cusip>
        <identifiers>
          <isin value="US102669KQ04"/>
          <ticker value="BOWEDU"/>
          <other otherDesc="Internal" value="102669KQ"/>
        </identifiers>
        <balance>695000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>716677.05</valUSD>
        <pctVal>2.2673933486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>FLOYD CNTY KY SCH DIST FIN CORP</name>
        <lei>N/A</lei>
        <title>KY FLYEDU 3.5 08/01/2031</title>
        <cusip>343667YA3</cusip>
        <identifiers>
          <isin value="US343667YA32"/>
          <ticker value="FLYEDU"/>
          <other otherDesc="Internal" value="343667YA"/>
        </identifiers>
        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>770224</valUSD>
        <pctVal>2.4368029848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>JEFFERSON CNTY KY SCH DIST FIN CORP</name>
        <lei>N/A</lei>
        <title>KY JEFEDU 4 06/01/2030</title>
        <cusip>47309QBG5</cusip>
        <identifiers>
          <isin value="US47309QBG55"/>
          <ticker value="JEFEDU"/>
          <other otherDesc="Internal" value="47309QBG"/>
        </identifiers>
        <balance>1245000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1255545.15</valUSD>
        <pctVal>3.9722420608</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>4.000000000000</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>NEWPORT KY INDPT SCH DIST FIN CORP</name>
        <lei>N/A</lei>
        <title>KY NEWEDU 3.5 11/01/2028</title>
        <cusip>651895DZ4</cusip>
        <identifiers>
          <isin value="US651895DZ46"/>
          <ticker value="NEWEDU"/>
          <other otherDesc="Internal" value="651895DZ"/>
        </identifiers>
        <balance>425000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>416257.75</valUSD>
        <pctVal>1.3169391341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>PARIS KY INDPT SCH DIST FIN CORP</name>
        <lei>N/A</lei>
        <title>KY PAREDU 5 06/01/2027</title>
        <cusip>699663KK5</cusip>
        <identifiers>
          <isin value="US699663KK50"/>
          <ticker value="PAREDU"/>
          <other otherDesc="Internal" value="699663KK"/>
        </identifiers>
        <balance>205000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>213241</valUSD>
        <pctVal>0.6746430977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>PARIS KY INDPT SCH DIST FIN CORP</name>
        <lei>N/A</lei>
        <title>KY PAREDU 5 06/01/2028</title>
        <cusip>699663KL3</cusip>
        <identifiers>
          <isin value="US699663KL34"/>
          <ticker value="PAREDU"/>
          <other otherDesc="Internal" value="699663KL"/>
        </identifiers>
        <balance>215000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>226403.6</valUSD>
        <pctVal>0.7162863897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>5.000000000000</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>PARIS KY INDPT SCH DIST FIN CORP</name>
        <lei>N/A</lei>
        <title>KY PAREDU 5 06/01/2029</title>
        <cusip>699663KM1</cusip>
        <identifiers>
          <isin value="US699663KM17"/>
          <ticker value="PAREDU"/>
          <other otherDesc="Internal" value="699663KM"/>
        </identifiers>
        <balance>170000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>181123.1</valUSD>
        <pctVal>0.5730298078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>2024-07-24</ncom:dateSigned>
      <ncom:nameOfApplicant>Dupree Mutual Funds</ncom:nameOfApplicant>
      <ncom:signature>Michelle Dragoo</ncom:signature>
      <ncom:signerName>Michelle Dragoo</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
