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        <name>BALTIMORE MD</name>
        <lei>N/A</lei>
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          <maturityDt>2024-06-15</maturityDt>
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      <invstOrSec>
        <name>MARYLAND ST HLTH and HI ED FACS</name>
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      <invstOrSec>
        <name>MONTGOMERY CNTY MD</name>
        <lei>N/A</lei>
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          <isin value="US61334PBK84"/>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
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      <invstOrSec>
        <name>MARYLAND ST STAD AUTH REV</name>
        <lei>N/A</lei>
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        <name>BALTIMORE MD PROJ REV</name>
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          <isin value="US05922KB817"/>
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        <name>MARYLAND ECONOMIC DEV CORP ST</name>
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          <isin value="US57420VQM80"/>
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        <name>BALTIMORE MD</name>
        <lei>N/A</lei>
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        <cusip>059189VC1</cusip>
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          <isin value="US059189VC18"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-10-15</maturityDt>
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        <name>BALTIMORE CNTY MD CREST VLG</name>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <name>ANNE ARUNDEL CNTY MD</name>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <name>ANNE ARUNDEL CNTY MD</name>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <name>GUAM INTL ARPT AUTH REV</name>
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        <name>ANNE ARUNDEL CNTY MD</name>
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      </invstOrSec>
      <invstOrSec>
        <name>MD ST ECON DEV CORP AIR CARGO</name>
        <lei>N/A</lei>
        <title>MD EDC AIR 5% 7/1/2029 @</title>
        <cusip>57420MAR4</cusip>
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          <isin value="US57420MAR43"/>
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        <balance>585000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>755685.45000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>MARYLAND ST DEPT TRANSN CONS</name>
        <lei>N/A</lei>
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        <cusip>574204K93</cusip>
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          <isin value="US574204K935"/>
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        <curCd>USD</curCd>
        <valUSD>2133060.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BALTIMORE MD</name>
        <lei>N/A</lei>
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        <cusip>059189VD9</cusip>
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          <isin value="US059189VD90"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>BALTIMORE MD PROJ REV</name>
        <lei>N/A</lei>
        <title>BALT MD WTR SER C 5% 07/01/34</title>
        <cusip>05922KXC8</cusip>
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          <isin value="US05922KXC88"/>
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        <valUSD>1524703.90000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-01</maturityDt>
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      <invstOrSec>
        <name>MARYLAND ECONOMIC DEV CORP ST</name>
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          <isin value="US57420VPC18"/>
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        <curCd>USD</curCd>
        <valUSD>694002.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MARYLAND ECONOMIC DEV CORP ST</name>
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          <isin value="US57420VPV98"/>
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        <valUSD>433247.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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      <invstOrSec>
        <name>MARYLAND ST HLTH and HI ED FACS</name>
        <lei>N/A</lei>
        <title>MD HEFA 5% 7/1/31</title>
        <cusip>574218P64</cusip>
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          <isin value="US574218P645"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>613880.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
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      <invstOrSec>
        <name>BALTIMORE MD PROJ REV</name>
        <lei>N/A</lei>
        <title>BALTIMORE MD RV 5% 7/1/2028</title>
        <cusip>059231ZN3</cusip>
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          <isin value="US059231ZN35"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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      <invstOrSec>
        <name>MARYLAND ST</name>
        <lei>1KB5EZVJRET62OYIKM77</lei>
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          <isin value="US574193RH37"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MARYLAND ST HLTH and HI ED FACS</name>
        <lei>N/A</lei>
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          <isin value="US574218YR86"/>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <name>BALTIMORE CNTY MD</name>
        <lei>N/A</lei>
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        <name>MARYLAND ST STAD AUTH REV</name>
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        <name>BALTIMORE CNTY MD</name>
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        <name>BALTIMORE CNTY MD</name>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <name>MARYLAND ST ECONOMIC DEV CORP PRIVATE ACTIVITY REV</name>
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      <invstOrSec>
        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <name>MARYLAND ST STAD AUTH REV</name>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <name>ANNE ARUNDEL CNTY MD</name>
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        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MARYLAND ST HLTH and HI ED FACS</name>
        <lei>N/A</lei>
        <title>MD HEFA 5% 6/1/26</title>
        <cusip>574218D83</cusip>
        <identifiers>
          <isin value="US574218D831"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>367485.00000000</valUSD>
        <pctVal>0.156138887158</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>MARYLAND ST HLTH and HI ED FACS</name>
        <lei>N/A</lei>
        <title>FREDERICK MEMORIAL HOSP 5% 7/1/2025</title>
        <cusip>574218MC4</cusip>
        <identifiers>
          <isin value="US574218MC46"/>
        </identifiers>
        <balance>1120000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1217507.20000000</valUSD>
        <pctVal>0.517300622653</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>0.05000000</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>2020-03-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Laura M. Del Prato</ncom:nameOfApplicant>
      <ncom:signature>Laura M. Del Prato</ncom:signature>
      <ncom:signerName>Laura M. Del Prato</ncom:signerName>
      <ncom:title>President and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
