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        <name>BALTIMORE CNTY MD</name>
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      <invstOrSec>
        <name>MARYLAND ST HLTH and HI ED FACS</name>
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      <invstOrSec>
        <name>MARYLAND ST CMNTY DEV ADMIN DEPT HSG and CMNTY DEV</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>MARYLAND ST HLTH and HI ED FACS</name>
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        <name>BALTIMORE CNTY MD CREST VLG</name>
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        <name>MONTGOMERY CNTY MD REV</name>
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        <name>MARYLAND ST TRANSN AUTH TRANSN</name>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <name>MARYLAND ST TRANSN AUTH TRANSN</name>
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        <name>MARYLAND ST STAD AUTH REV</name>
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        <name>WESTMINSTER MD EDL FACS REV</name>
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        <name>BALTIMORE CNTY MD CREST VLG</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 ECON DEV CORP ECON</name>
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        <name>BALTIMORE CNTY MD CREST VLG</name>
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        <name>MARYLAND ST TA PSNGR FAC CHRG</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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      </invstOrSec>
      <invstOrSec>
        <name>BALTIMORE CNTY MD</name>
        <lei>N/A</lei>
        <title>BATL CNTY MD 4% 11/1/2033</title>
        <cusip>05914F3V0</cusip>
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          <isin value="US05914F3V07"/>
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        <curCd>USD</curCd>
        <valUSD>2232044.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>PRINCE GEORGES CTY MD CTF PART</name>
        <lei>N/A</lei>
        <title>PRINCE GEO COP 5% 10/1/48</title>
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        <identifiers>
          <isin value="US741705HL47"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2487460.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MD ST ECON DEV CORP AIR CARGO</name>
        <lei>N/A</lei>
        <title>MD EDC AIR 5% 7/1/2027 @</title>
        <cusip>57420MAP8</cusip>
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          <isin value="US57420MAP86"/>
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        <curCd>USD</curCd>
        <valUSD>239584.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>BALTIMORE MD CONVENTION CTR HO REV</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US05921PBY43"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1339695.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-01</maturityDt>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
        <lei>N/A</lei>
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          <isin value="US5742185T61"/>
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        <curCd>USD</curCd>
        <valUSD>2364400.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MARYLAND ECONOMIC DEV CORP ST</name>
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          <isin value="US57420VQP12"/>
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        <curCd>USD</curCd>
        <valUSD>317760.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
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      <invstOrSec>
        <name>MARYLAND ST HLTH and HI ED FACS</name>
        <lei>N/A</lei>
        <title>ANNE ARUONDEL HTH MD 5% 7/1/27</title>
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          <isin value="US574218LH42"/>
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        <curCd>USD</curCd>
        <valUSD>321444.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
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      <invstOrSec>
        <name>MARYLAND ST HLTH and HI ED FACS</name>
        <lei>N/A</lei>
        <title>MD HEFA 5% 6/1/2031</title>
        <cusip>574218J53</cusip>
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          <isin value="US574218J531"/>
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        <valUSD>483118.75000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MARYLAND ST</name>
        <lei>1KB5EZVJRET62OYIKM77</lei>
        <title>MD ST 5% 8/1/2034</title>
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          <isin value="US574193TH19"/>
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        <valUSD>2716020.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
        <lei>N/A</lei>
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          <isin value="US574218XW80"/>
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        <balance>1325000.00000000</balance>
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        <valUSD>1511030.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BALTIMORE MD PROJ REV</name>
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          <ticker value="BALGEN"/>
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        <fairValLevel>2</fairValLevel>
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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>MARYLAND ECONOMIC DEV CORP ST</name>
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        <name>MARYLAND ST CMNTY DEV ADMIN DEPT HSG and CMNTY DEV</name>
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        <name>MARYLAND ECONOMIC DEV CORP ST</name>
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        <name>MARYLAND ST DEPT TRANSN CONS</name>
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        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARYLAND ST</name>
        <lei>1KB5EZVJRET62OYIKM77</lei>
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        <cusip>574193TF5</cusip>
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          <isin value="US574193TF52"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1370580.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <title>MARYLAND ST HLTH and HGR EDUCTNLFACS AUTH REVENUE CARROLL HOSP SER A</title>
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          <isin value="US574218HE66"/>
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        <valUSD>1083810.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MARYLAND ST HLTH and HI ED FACS</name>
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        <valUSD>1136900.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARYLAND ST HLTH and HI ED FACS</name>
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          <isin value="US574218J796"/>
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        <valUSD>1091589.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARYLAND ST HLTH and HI ED FACS</name>
        <lei>N/A</lei>
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          <isin value="US5742182V45"/>
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        <valUSD>613655.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MARYLAND ST</name>
        <lei>1KB5EZVJRET62OYIKM77</lei>
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          <isin value="US574193TE87"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARYLAND ST HLTH and HI ED FACS</name>
        <lei>N/A</lei>
        <title>MD HEFA 5% 7/1/30</title>
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          <isin value="US574218YP21"/>
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        <curCd>USD</curCd>
        <valUSD>1254535.75000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>BALTIMORE MD PROJ REV</name>
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          <isin value="US05922KWA32"/>
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        <balance>2825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3306945.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-09-30</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>
