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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>WARREN MI CSD</name>
        <lei>N/A</lei>
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        <cusip>935341J57</cusip>
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          <isin value="US935341J576"/>
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        <curCd>USD</curCd>
        <valUSD>701926.50000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>FOREST HILLS MI PUB SCHS</name>
        <lei>N/A</lei>
        <title>FOREST HILLS MI 5% 5/1/2021Q</title>
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        <identifiers>
          <isin value="US345748YE10"/>
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        <curCd>USD</curCd>
        <valUSD>1636892.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>RBC MUN PRODS INC TR VAR STS</name>
        <lei>N/A</lei>
        <title>MI ST UNIV RBC E-127 RC/RC D1</title>
        <cusip>74934RTY2</cusip>
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          <isin value="US74934RTY26"/>
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        <balance>3820000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3820000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00150000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
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        <title>MICHIGAN FIN AU SRC 5% 7/1/35</title>
        <cusip>59447TFG3</cusip>
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          <isin value="US59447TFG31"/>
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        <curCd>USD</curCd>
        <valUSD>2446752.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HUDSONVILLE MICH PUB SCHS</name>
        <lei>N/A</lei>
        <title>HUDSONVILLE MI 5% 5/1/2035</title>
        <cusip>444240SH9</cusip>
        <identifiers>
          <isin value="US444240SH92"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1236460.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH 5% 7/1/2037</title>
        <cusip>59447PD32</cusip>
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          <isin value="US59447PD328"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OAKLAND UNIV MICH REV</name>
        <lei>N/A</lei>
        <title>OAKLAND-U MI 5% 3/1/2041</title>
        <cusip>673588HE2</cusip>
        <identifiers>
          <isin value="US673588HE27"/>
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        <balance>3475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3956843.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MI FIN AU 5% 11/15/34</title>
        <cusip>59447TMK6</cusip>
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          <isin value="US59447TMK69"/>
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        <balance>1135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1337983.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>GRAND RAPIDS MI SAN SWR SYS</name>
        <lei>N/A</lei>
        <title>GRAND RAPID SWR 5% 1/1/2031</title>
        <cusip>386289LR1</cusip>
        <identifiers>
          <isin value="US386289LR19"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>605397.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/2031 @</title>
        <cusip>944514ZY7</cusip>
        <identifiers>
          <isin value="US944514ZY74"/>
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        <balance>2825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3430143.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 1ML+75 10/15/38 MT</title>
        <cusip>59447TDC4</cusip>
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          <isin value="US59447TDC45"/>
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        <balance>7920000.00000000</balance>
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        <valUSD>7916154.05000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-15</maturityDt>
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          <annualizedRt>0.00875000</annualizedRt>
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      <invstOrSec>
        <name>LINCOLN MI CONS SCH DIST</name>
        <lei>N/A</lei>
        <title>LINCOLN MI CSD 5% 5/1/2029</title>
        <cusip>533883MW1</cusip>
        <identifiers>
          <isin value="US533883MW18"/>
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        <balance>1430000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>GRAND RAPIDS MI WTR SUPPLY SYS</name>
        <lei>N/A</lei>
        <title>GRAND RAPID WTR 5% 1/1/34</title>
        <cusip>386316NB5</cusip>
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          <isin value="US386316NB53"/>
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        <name>LANSING MICH BRD WTR and LT UTIL SYS REV</name>
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        <title>LANSING MI WTR 5% 7/1/2025</title>
        <cusip>516391CL1</cusip>
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          <isin value="US516391CL13"/>
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        <name>MICHIGAN ST BLDG AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>594615BX3</cusip>
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          <isin value="US594615BX33"/>
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      <invstOrSec>
        <name>OAKLAND UNIV MICH REV</name>
        <lei>N/A</lei>
        <title>OAKLAND UNIV MI 5% 3/1/25</title>
        <cusip>673588DX4</cusip>
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          <isin value="US673588DX44"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>WESTERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WESTRN MI UNIV 5% 11/15/2030</title>
        <cusip>958638UN6</cusip>
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          <isin value="US958638UN65"/>
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        <balance>855000.00000000</balance>
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        <valUSD>1004325.75000000</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>2030-11-15</maturityDt>
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          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>WARREN MI CSD</name>
        <lei>N/A</lei>
        <title>WARREN MI CSD 4% 5/1/2024</title>
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          <isin value="US935341G846"/>
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        <curCd>USD</curCd>
        <valUSD>839955.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-01</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>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/42</title>
        <cusip>944514WC8</cusip>
        <identifiers>
          <isin value="US944514WC81"/>
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        <balance>1455000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1702670.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>OAKLAND UNIV MICH REV</name>
        <lei>N/A</lei>
        <title>OAKLAND UNV MI 5% 3/1/28</title>
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        <identifiers>
          <isin value="US673588GV50"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>GRAND VALLEY MI ST UNIV REV</name>
        <lei>N/A</lei>
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        <cusip>386545JN8</cusip>
        <identifiers>
          <isin value="US386545JN82"/>
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        <curCd>USD</curCd>
        <valUSD>2056896.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GRAND RAPIDS MI WTR SUPPLY SYS</name>
        <lei>N/A</lei>
        <title>GRAND RAPID WTR 5% 1/1/31</title>
        <cusip>386316MY6</cusip>
        <identifiers>
          <isin value="US386316MY65"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>304615.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 11/1/2036</title>
        <cusip>59447TSJ3</cusip>
        <identifiers>
          <isin value="US59447TSJ33"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1570975.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WAYNE ST UNIV MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WAYNE ST U MI 4% 11/15/2038</title>
        <cusip>946303C28</cusip>
        <identifiers>
          <isin value="US946303C289"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>574660.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>WEST OTTAWA MI PUB SCH DIST</name>
        <lei>N/A</lei>
        <title>W OTTAWA MI SD 5% 5/1/2026</title>
        <cusip>955023SW7</cusip>
        <identifiers>
          <isin value="US955023SW75"/>
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        <balance>1225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1272824.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PORTAGE MI PUB SCHS</name>
        <lei>N/A</lei>
        <title>PORTAGE MI PUB 5% 11/1/2034</title>
        <cusip>735779NA4</cusip>
        <identifiers>
          <isin value="US735779NA45"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1483525.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BAY CITY MI SCH DIST</name>
        <lei>N/A</lei>
        <title>BAY CITY MI SD 5% 11/1/2028</title>
        <cusip>072104GP1</cusip>
        <identifiers>
          <isin value="US072104GP17"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>291247.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>DETROIT MI DOWNTOWN DEV AUTH TAX</name>
        <lei>N/A</lei>
        <title>DETROIT DWNTWN 5% 7/1/2033</title>
        <cusip>251135GK9</cusip>
        <identifiers>
          <isin value="US251135GK98"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2271660.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 12/1/2027</title>
        <cusip>59447TEF6</cusip>
        <identifiers>
          <isin value="US59447TEF66"/>
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        <balance>1090000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>DOWNRIVER UTIL WASTEWATER AUTHMICH SWR SYS REV</name>
        <lei>N/A</lei>
        <title>DOWNRIVER UTIL 5% 4/1/2035</title>
        <cusip>26111PAQ8</cusip>
        <identifiers>
          <isin value="US26111PAQ81"/>
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        <balance>500000.00000000</balance>
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      <invstOrSec>
        <name>ROCH MI COMM SCH REF GO</name>
        <lei>N/A</lei>
        <title>ROCHESTER MI CSD 5% 5/1/31</title>
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          <isin value="US771537VP95"/>
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          <maturityDt>2031-05-01</maturityDt>
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        <name>GRAND RAPIDS MI WTR SUPPLY SYS</name>
        <lei>N/A</lei>
        <title>GRAND RAPID WTR 5% 1/1/33</title>
        <cusip>386316NA7</cusip>
        <identifiers>
          <isin value="US386316NA70"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-01</maturityDt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 11/1/2033</title>
        <cusip>59447TSF1</cusip>
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          <isin value="US59447TSF11"/>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU D1 5% 7/1/2035</title>
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          <isin value="US59447TFY47"/>
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      <invstOrSec>
        <name>GRAND RAPIDS MI SAN SWR SYS</name>
        <lei>N/A</lei>
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          <isin value="US386289LV21"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRAND RAPIDS MI WTR SUPPLY SYS</name>
        <lei>N/A</lei>
        <title>GRAND RAPID WTR 5% 1/1/46</title>
        <cusip>386316NF6</cusip>
        <identifiers>
          <isin value="US386316NF67"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>944624.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH MIDMICHIGAN OBLIGATED GROUP 5% 6/1/27</title>
        <cusip>59447P5L1</cusip>
        <identifiers>
          <isin value="US59447P5L10"/>
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        <curCd>USD</curCd>
        <valUSD>796411.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DETROIT MI SEW DISP REV</name>
        <lei>N/A</lei>
        <title>DETROIT MI SWR 5% NATL 7/1/2036</title>
        <cusip>2512377P2</cusip>
        <identifiers>
          <isin value="US2512377P22"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10034.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OAKLAND UNIV MICH REV</name>
        <lei>N/A</lei>
        <title>OAKLAND UNIV MICH REV OAKLAND-U MI 5% 3/1/2029</title>
        <cusip>673588GC7</cusip>
        <identifiers>
          <isin value="US673588GC79"/>
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        <balance>525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>586839.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 11/1/44</title>
        <cusip>59447THF3</cusip>
        <identifiers>
          <isin value="US59447THF30"/>
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        <balance>6190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6979844.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GRAND RAPIDS MI WTR SUPPLY SYS</name>
        <lei>N/A</lei>
        <title>GRAND RAPID WTR 5% 1/1/32</title>
        <cusip>386316MZ3</cusip>
        <identifiers>
          <isin value="US386316MZ31"/>
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        <balance>320000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>389139.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DETROIT MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>DETROIT MI CITY SCH DIST REF-IMPT-SCH BLDG and SITE-SER AMI ST</title>
        <cusip>251130ER7</cusip>
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          <isin value="US251130ER72"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5376950.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 11/1/2032</title>
        <cusip>59447TSE4</cusip>
        <identifiers>
          <isin value="US59447TSE46"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1283750.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>BRANDON SCH DIST MI</name>
        <lei>N/A</lei>
        <title>BRANDON SD MI 5% 5/1/29</title>
        <cusip>105295LV9</cusip>
        <identifiers>
          <isin value="US105295LV92"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1507025.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/47@</title>
        <cusip>944514XQ6</cusip>
        <identifiers>
          <isin value="US944514XQ68"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>514971.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WAYNE ST UNIV MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WAYNE ST U MI 4% 11/15/2039</title>
        <cusip>946303C36</cusip>
        <identifiers>
          <isin value="US946303C362"/>
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        <balance>350000.00000000</balance>
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        <valUSD>401135.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>DETROIT MI DOWNTOWN DEV AUTH TAX</name>
        <lei>N/A</lei>
        <title>DETROIT DWNTWN 5% 7/1/2035</title>
        <cusip>251135GM5</cusip>
        <identifiers>
          <isin value="US251135GM54"/>
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        <balance>2750000.00000000</balance>
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        <valUSD>3112092.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DETROIT MI DOWNTOWN DEV AUTH TAX</name>
        <lei>N/A</lei>
        <title>DETROIT DWNTWN 5% 7/1/2037</title>
        <cusip>251135GP8</cusip>
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          <isin value="US251135GP85"/>
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        <balance>2000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN ST UNIV REVS</name>
        <lei>N/A</lei>
        <title>MI ST UNIV 5% 2/15/2048</title>
        <cusip>594712VF5</cusip>
        <identifiers>
          <isin value="US594712VF58"/>
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        <balance>3000000.00000000</balance>
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        <valUSD>3677040.00000000</valUSD>
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          <maturityDt>2048-02-15</maturityDt>
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      <invstOrSec>
        <name>LINCOLN MI CONS SCH DIST</name>
        <lei>N/A</lei>
        <title>LINCOLN MI CSD 5% 5/1/2031</title>
        <cusip>533883MY7</cusip>
        <identifiers>
          <isin value="US533883MY73"/>
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        <balance>500000.00000000</balance>
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      <invstOrSec>
        <name>ROSEVILLE MICH CMNTY SCHS</name>
        <lei>N/A</lei>
        <title>ROSEVILLE MI SD 5% 5/1/2027</title>
        <cusip>778017PC1</cusip>
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          <isin value="US778017PC19"/>
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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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      </invstOrSec>
      <invstOrSec>
        <name>PORTAGE MI PUB SCHS</name>
        <lei>N/A</lei>
        <title>PORTAGE MI PUB 4% 11/1/2038</title>
        <cusip>735779NP1</cusip>
        <identifiers>
          <isin value="US735779NP14"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>2328640.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>LANSING MI COMMUNITY COLLEGE</name>
        <lei>N/A</lei>
        <title>LANSNG MI CC 5% 5/1/2023</title>
        <cusip>516408HE4</cusip>
        <identifiers>
          <isin value="US516408HE42"/>
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        <balance>1135000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GREAT LAKES SEWER AUTH MICH</name>
        <lei>N/A</lei>
        <title>GT LAKES WTR MI 5% 7/1/31</title>
        <cusip>39081HAM4</cusip>
        <identifiers>
          <isin value="US39081HAM43"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8494640.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>ROSEVILLE MICH CMNTY SCHS</name>
        <lei>N/A</lei>
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        <cusip>778017NZ2</cusip>
        <identifiers>
          <isin value="US778017NZ22"/>
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        <curCd>USD</curCd>
        <valUSD>665697.30000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>DETROIT MI DOWNTOWN DEV AUTH TAX</name>
        <lei>N/A</lei>
        <title>DETROIT DWNTWN 5% 7/1/2034</title>
        <cusip>251135GL7</cusip>
        <identifiers>
          <isin value="US251135GL71"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1984780.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GRAND VALLEY MI ST UNIV REV</name>
        <lei>N/A</lei>
        <title>GRAND VLY MI UN 5% 12/1/2038</title>
        <cusip>386545MS3</cusip>
        <identifiers>
          <isin value="US386545MS33"/>
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        <balance>875000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1055005.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ROSEVILLE MICH CMNTY SCHS</name>
        <lei>N/A</lei>
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        <cusip>778017NK5</cusip>
        <identifiers>
          <isin value="US778017NK52"/>
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        <balance>780000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CLARKSTON MI CMNTY SCHS</name>
        <lei>N/A</lei>
        <title>CLARKSTON MI SD 5% 5/1/28</title>
        <cusip>182252UV6</cusip>
        <identifiers>
          <isin value="US182252UV67"/>
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        <balance>1745000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2085449.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GRAND RAPIDS MI PUB SCHS</name>
        <lei>N/A</lei>
        <title>GRAND RAPIDS 5% 11/1/2042</title>
        <cusip>386280RV5</cusip>
        <identifiers>
          <isin value="US386280RV57"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1752492.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 12/1/2030</title>
        <cusip>59447TQJ5</cusip>
        <identifiers>
          <isin value="US59447TQJ50"/>
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        <balance>710000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>882693.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WARREN MI CSD</name>
        <lei>N/A</lei>
        <title>WARREN MI CSD 5% 5/1/34</title>
        <cusip>935341F93</cusip>
        <identifiers>
          <isin value="US935341F939"/>
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        <balance>5630000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6548984.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH 5% 6/1/2039</title>
        <cusip>59447P5V9</cusip>
        <identifiers>
          <isin value="US59447P5V91"/>
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        <balance>540000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>599502.60000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>LINCOLN MI CONS SCH DIST</name>
        <lei>N/A</lei>
        <title>LINCOLN MI CSD 5% 5/1/2032</title>
        <cusip>533883MZ4</cusip>
        <identifiers>
          <isin value="US533883MZ49"/>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MICHIGAN ST HOSP FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI HOSP 5% 11/15/2047</title>
        <cusip>59465HVU7</cusip>
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          <isin value="US59465HVU75"/>
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        <balance>3000000.00000000</balance>
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          <maturityDt>2047-11-15</maturityDt>
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      <invstOrSec>
        <name>FARMINGTON MICH PUB SCH DIST</name>
        <lei>N/A</lei>
        <title>FARMINGTON PUBI 5% 5/1/26</title>
        <cusip>311261SU6</cusip>
        <identifiers>
          <isin value="US311261SU66"/>
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        <balance>1385000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
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      <invstOrSec>
        <name>WESTERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WESTRN MI UNIV 5% 11/15/28</title>
        <cusip>958638VG0</cusip>
        <identifiers>
          <isin value="US958638VG06"/>
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        <balance>2505000.00000000</balance>
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          <maturityDt>2028-11-15</maturityDt>
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      <invstOrSec>
        <name>HUDSONVILLE MICH PUB SCHS</name>
        <lei>N/A</lei>
        <title>HUDSONVILLE MI 4% 5/01/24</title>
        <cusip>444240PT6</cusip>
        <identifiers>
          <isin value="US444240PT67"/>
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        <balance>1220000.00000000</balance>
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        <valUSD>1341548.60000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>FLINT MI HOSP BLDG AUTH REV</name>
        <lei>N/A</lei>
        <title>FLINT MI BLDG 4% 7/1/2038</title>
        <cusip>339511EX1</cusip>
        <identifiers>
          <isin value="US339511EX19"/>
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        <balance>1800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1955826.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH 5% 11/15/2042</title>
        <cusip>59447PQS3</cusip>
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        <balance>3120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3318931.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROSEVILLE MICH CMNTY SCHS</name>
        <lei>N/A</lei>
        <title>ROSEVILLE MI SD 5% 5/1/2026</title>
        <cusip>778017PB3</cusip>
        <identifiers>
          <isin value="US778017PB36"/>
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        <balance>1715000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2064019.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>MICHIGAN ST STRATEGIC FD LTD OBLIG REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN ST STRATEGIC FD LTD OBLIG REV</title>
        <cusip>594698KN1</cusip>
        <identifiers>
          <isin value="US594698KN18"/>
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        <balance>3585000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3784684.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05250000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/2048 @</title>
        <cusip>944514ZJ0</cusip>
        <identifiers>
          <isin value="US944514ZJ08"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5801100.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <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>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 11/15/2029</title>
        <cusip>59447TME0</cusip>
        <identifiers>
          <isin value="US59447TME00"/>
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        <balance>2950000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3550295.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DETROIT MI</name>
        <lei>N/A</lei>
        <title>DETROIT MI 5% 4/1/2023</title>
        <cusip>2510933B4</cusip>
        <identifiers>
          <isin value="US2510933B45"/>
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        <balance>310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>321129.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <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>ST CLAIR CNTY MICH</name>
        <lei>N/A</lei>
        <title>SAINT CLAIR CNTY MI REF-LTD TAX</title>
        <cusip>788640FX3</cusip>
        <identifiers>
          <isin value="US788640FX36"/>
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        <balance>1495000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1616797.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH 5% 11/15/2026</title>
        <cusip>59447PQQ7</cusip>
        <identifiers>
          <isin value="US59447PQQ71"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>867280.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/2035</title>
        <cusip>944514UH9</cusip>
        <identifiers>
          <isin value="US944514UH96"/>
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        <balance>5435000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6200030.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WARREN MI CSD</name>
        <lei>N/A</lei>
        <title>WARREN MI CSD 5% 5/1/2035</title>
        <cusip>935341G27</cusip>
        <identifiers>
          <isin value="US935341G275"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1449550.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KALAMAZOO MI HFA HOSP FAC REV</name>
        <lei>N/A</lei>
        <title>KALAMAZOO MI HFA 5% 5/15/30</title>
        <cusip>483233NT5</cusip>
        <identifiers>
          <isin value="US483233NT58"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5904350.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN ST UNIV REVS</name>
        <lei>N/A</lei>
        <title>MI ST UNIV 4% 2/15/44</title>
        <cusip>594712WH0</cusip>
        <identifiers>
          <isin value="US594712WH06"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1731225.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BAY CITY MI SCH DIST</name>
        <lei>N/A</lei>
        <title>BAY CITY MI SCHOOLS QSBLF 5% 11/1/2025</title>
        <cusip>072104GL0</cusip>
        <identifiers>
          <isin value="US072104GL03"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1169130.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WESTERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WESTRN MI UNIV 5% 11/15/2029</title>
        <cusip>958638UM8</cusip>
        <identifiers>
          <isin value="US958638UM82"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>880642.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GRAND TRAVERSE CNTY MI HOSP</name>
        <lei>N/A</lei>
        <title>GRAND TRAV HOSP A 5% 7/1/2049</title>
        <cusip>386523GX6</cusip>
        <identifiers>
          <isin value="US386523GX63"/>
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        <balance>2615000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3074743.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DETROIT MI DOWNTOWN DEV AUTH TAX</name>
        <lei>N/A</lei>
        <title>DETROIT DWNTWN 5% 7/1/2022</title>
        <cusip>251135GW3</cusip>
        <identifiers>
          <isin value="US251135GW37"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>542535.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HUDSONVILLE MICH PUB SCHS</name>
        <lei>N/A</lei>
        <title>Hudsonville Public School District 4% 5/1/2025</title>
        <cusip>444240PU3</cusip>
        <identifiers>
          <isin value="US444240PU31"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>548870.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CLARKSTON MI CMNTY SCHS</name>
        <lei>N/A</lei>
        <title>CLARKSTON MI SD 5% 5/1/29</title>
        <cusip>182252UW4</cusip>
        <identifiers>
          <isin value="US182252UW41"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1789500.00000000</valUSD>
        <pctVal>0.264326042015</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OAKLAND UNIV MICH REV</name>
        <lei>N/A</lei>
        <title>OAKLAND UNIV MICH REV OAKLAND-U MI 5% 3/1/2028</title>
        <cusip>673588GB9</cusip>
        <identifiers>
          <isin value="US673588GB96"/>
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        <curCd>USD</curCd>
        <valUSD>375220.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROSEVILLE MICH CMNTY SCHS</name>
        <lei>N/A</lei>
        <title>ROSEVILLE MI SD 5% 5/1/26</title>
        <cusip>778017NM1</cusip>
        <identifiers>
          <isin value="US778017NM19"/>
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        <balance>1385000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1666861.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH 5% 01/01/2033</title>
        <cusip>59447PTF8</cusip>
        <identifiers>
          <isin value="US59447PTF89"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1347387.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV</name>
        <lei>N/A</lei>
        <title>GREAT LAKES WTR 5% 7/1/2049</title>
        <cusip>39081JDK1</cusip>
        <identifiers>
          <isin value="US39081JDK16"/>
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        <balance>1300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1625689.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN ST HOSP FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI HOSP SER F-5 MT</title>
        <cusip>59465HUA2</cusip>
        <identifiers>
          <isin value="US59465HUA21"/>
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        <balance>3650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3820674.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.02400000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 1/1/29</title>
        <cusip>59447TND1</cusip>
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          <isin value="US59447TND18"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FARMINGTON MICH PUB SCH DIST</name>
        <lei>N/A</lei>
        <title>FARMINGTON PUBI 5% 5/1/27</title>
        <cusip>311261SV4</cusip>
        <identifiers>
          <isin value="US311261SV40"/>
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        <balance>1425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1705995.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU(TRINITY HLTH) 5% 12/1/37</title>
        <cusip>59447TQS5</cusip>
        <identifiers>
          <isin value="US59447TQS59"/>
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        <balance>3270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3953135.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>GRAND VALLEY MI ST UNIV REV</name>
        <lei>N/A</lei>
        <title>GRAND VLY MI UN 5% 12/1/2026</title>
        <cusip>386545JL2</cusip>
        <identifiers>
          <isin value="US386545JL27"/>
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        <balance>1900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2181865.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NOVI COMM SCHL MI</name>
        <lei>N/A</lei>
        <title>NOVI MI CSD 5% 5/1/2044</title>
        <cusip>670029VU8</cusip>
        <identifiers>
          <isin value="US670029VU89"/>
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        <balance>1175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1500392.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 12/1/2042</title>
        <cusip>59447TQU0</cusip>
        <identifiers>
          <isin value="US59447TQU06"/>
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        <balance>2120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2536368.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>ROYAL OAK MI HOSP FIN AUTH</name>
        <lei>N/A</lei>
        <title>ROYAL OAK HOSP 5% 9/1/2027</title>
        <cusip>780486GS9</cusip>
        <identifiers>
          <isin value="US780486GS93"/>
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        <balance>1175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1326081.50000000</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>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU SRC 5% 7/1/28</title>
        <cusip>59447TFD0</cusip>
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          <isin value="US59447TFD00"/>
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        <balance>1500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHIPPEWA VALLEY MI SCHS</name>
        <lei>N/A</lei>
        <title>CHIPPEWA MI SD 5% 5/1/34</title>
        <cusip>170016ZT9</cusip>
        <identifiers>
          <isin value="US170016ZT92"/>
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        <balance>1075000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FRASER MI PUB SCH DIST</name>
        <lei>N/A</lei>
        <title>FRASER MI SD 5% 5/1/29</title>
        <cusip>355514MT4</cusip>
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          <isin value="US355514MT42"/>
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        <balance>1455000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MI FIN AU 5% 11/15/41</title>
        <cusip>59447TMN0</cusip>
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          <isin value="US59447TMN09"/>
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        <balance>11710000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-15</maturityDt>
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      <invstOrSec>
        <name>ROCKFORD MI PUB SCH DIST UTGO</name>
        <lei>N/A</lei>
        <title>ROCKFRD MI SCH 5% 5/1/2046</title>
        <cusip>773318VZ0</cusip>
        <identifiers>
          <isin value="US773318VZ03"/>
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        <balance>3120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3859876.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-05-01</maturityDt>
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          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LANSING MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>LANSING MICH SC 5% 5/1/2024</title>
        <cusip>516444RW8</cusip>
        <identifiers>
          <isin value="US516444RW85"/>
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        <balance>355000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>415335.80000000</valUSD>
        <pctVal>0.061349018229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-01</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>ROYAL OAK MI HOSP FIN AUTH</name>
        <lei>N/A</lei>
        <title>ROYAL OAK HOSP 5% 9/1/2026</title>
        <cusip>780486GR1</cusip>
        <identifiers>
          <isin value="US780486GR11"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1131470.00000000</valUSD>
        <pctVal>0.167128799530</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>0.05000000</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>JACKSON CNTY MICH</name>
        <lei>N/A</lei>
        <title>JACKSON CTY MI 4% 5/1/2034</title>
        <cusip>467107FL7</cusip>
        <identifiers>
          <isin value="US467107FL78"/>
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        <balance>2310000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2705171.70000000</valUSD>
        <pctVal>0.399579395604</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</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>WARREN MI CSD</name>
        <lei>N/A</lei>
        <title>WARREN MI CSD 5% 5/1/2023</title>
        <cusip>935341E60</cusip>
        <identifiers>
          <isin value="US935341E601"/>
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        <balance>810000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>911412.00000000</valUSD>
        <pctVal>0.134624155689</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>GRAND RAPIDS MI SAN SWR SYS</name>
        <lei>N/A</lei>
        <title>GRAND RAPIDS MI IMPT 5% 1/1/37</title>
        <cusip>386289HP0</cusip>
        <identifiers>
          <isin value="US386289HP09"/>
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        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1380100.00000000</valUSD>
        <pctVal>0.203853797477</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN MT 4% 12/1/2048</title>
        <cusip>594654CM5</cusip>
        <identifiers>
          <isin value="US594654CM52"/>
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        <balance>1805000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1963226.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</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>GRAND RAPIDS MI WTR SUPPLY SYS</name>
        <lei>N/A</lei>
        <title>GRAND RAPID WTR 5% 1/1/36</title>
        <cusip>386316ND1</cusip>
        <identifiers>
          <isin value="US386316ND10"/>
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        <balance>385000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>462465.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>MICHIGAN ST STRATEGIC FD LTD OBLIG REV</name>
        <lei>N/A</lei>
        <title>MI STRAT FND 1.8% MT@</title>
        <cusip>594698RN4</cusip>
        <identifiers>
          <isin value="US594698RN45"/>
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        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6214440.00000000</valUSD>
        <pctVal>0.917931449312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.01800000</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>WESTERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WESTRN MI UNIV 5% 11/15/26</title>
        <cusip>958638VE5</cusip>
        <identifiers>
          <isin value="US958638VE57"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1196430.00000000</valUSD>
        <pctVal>0.176724004721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>GRAND RAPIDS MI PUB SCHS</name>
        <lei>N/A</lei>
        <title>GRAND RAPIDS 5% 11/1/2039</title>
        <cusip>386280RS2</cusip>
        <identifiers>
          <isin value="US386280RS29"/>
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        <balance>1200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1516752.00000000</valUSD>
        <pctVal>0.224038587806</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/01/2023</title>
        <cusip>944514NE4</cusip>
        <identifiers>
          <isin value="US944514NE49"/>
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        <balance>2300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2523491.00000000</valUSD>
        <pctVal>0.372743441236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARQUETTE MI LT and PWR ELEC UTIL</name>
        <lei>N/A</lei>
        <title>MARQUETTE LTPWR 5% 7/1/31</title>
        <cusip>571498CT9</cusip>
        <identifiers>
          <isin value="US571498CT95"/>
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        <balance>780000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>952723.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GRAND RAPIDS MI SAN SWR SYS</name>
        <lei>N/A</lei>
        <title>GRAND RAPID SWR 5% 1/1/2034</title>
        <cusip>386289LU4</cusip>
        <identifiers>
          <isin value="US386289LU48"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>690228.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KENTWOOD PUBLIC SCH, CTY KENT</name>
        <lei>N/A</lei>
        <title>KENTWOOD MI PUBLIC SCHS REF</title>
        <cusip>491746QU0</cusip>
        <identifiers>
          <isin value="US491746QU06"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1067870.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GUAM POWER AUTH.</name>
        <lei>N/A</lei>
        <title>GUAM POWER AUTH 5% 10/1/23</title>
        <cusip>400653GJ4</cusip>
        <identifiers>
          <isin value="US400653GJ47"/>
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        <balance>1175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1270010.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU D1 5% 7/1/2034</title>
        <cusip>59447TFX6</cusip>
        <identifiers>
          <isin value="US59447TFX63"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1441437.50000000</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>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DOWNRIVER UTIL WASTEWATER AUTHMICH SWR SYS REV</name>
        <lei>N/A</lei>
        <title>DOWNRIVER UTIL 5% 4/1/2033</title>
        <cusip>26111PAN5</cusip>
        <identifiers>
          <isin value="US26111PAN50"/>
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        <balance>735000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>912384.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LANSING MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>LANSING MI SCH DIST REF</title>
        <cusip>516444QK5</cusip>
        <identifiers>
          <isin value="US516444QK56"/>
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        <name>WEST OTTAWA MI PUB SCH DIST</name>
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      <invstOrSec>
        <name>LANSE CREUSE MICH PUB SCH</name>
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      <invstOrSec>
        <name>MICHIGAN ST HOSP FIN AUTH REV</name>
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          <isin value="US59465HTZ90"/>
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        <name>WEST OTTAWA MI PUB SCH DIST</name>
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          <isin value="US955023SV92"/>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
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          <isin value="US59447TUC51"/>
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      <invstOrSec>
        <name>BAY CITY MI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US072104GM85"/>
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      <invstOrSec>
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          <isin value="US59447TUE18"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
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          <isin value="US59447TNE90"/>
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        <name>MICHIGAN ST BLDG AUTH REV</name>
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          <isin value="US594615BV76"/>
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        <name>WEST OTTAWA MI PUB SCH DIST</name>
        <lei>N/A</lei>
        <title>W OTTAWA MI SD 5% 5/1/2034</title>
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          <isin value="US955023RJ73"/>
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        <name>GRAND VALLEY MI ST UNIV REV</name>
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          <isin value="US386545JK44"/>
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        <name>MICHIGAN FIN AUTH REV</name>
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          <isin value="US59447PK422"/>
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        <name>GRAND RAPIDS MI SAN SWR SYS</name>
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          <isin value="US386289JZ62"/>
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        <name>GRAND TRAVERSE CNTY MI HOSP</name>
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      <invstOrSec>
        <name>GRANDVILLE MICH PUB SCHS DIST</name>
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        <name>GRAND RAPIDS MI SAN SWR SYS</name>
        <lei>N/A</lei>
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          <isin value="US386289LY69"/>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRAND RAPIDS MI PUB SCHS</name>
        <lei>N/A</lei>
        <title>GRAND RAPIDS 5% 11/1/2041</title>
        <cusip>386280RU7</cusip>
        <identifiers>
          <isin value="US386280RU74"/>
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        <balance>1300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1631916.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DETROIT MI</name>
        <lei>N/A</lei>
        <title>DETROIT MI 5% 4/1/2021</title>
        <cusip>2510932Z2</cusip>
        <identifiers>
          <isin value="US2510932Z22"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1011136.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DETROIT MI DOWNTOWN DEV AUTH TAX</name>
        <lei>N/A</lei>
        <title>DETROIT DWNTWN 5% 7/1/2031</title>
        <cusip>251135GH6</cusip>
        <identifiers>
          <isin value="US251135GH69"/>
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        <balance>1775000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2024245.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WEST OTTAWA MI PUB SCH DIST</name>
        <lei>N/A</lei>
        <title>W OTTAWA MI SD 5% 5/1/2030</title>
        <cusip>955023RE8</cusip>
        <identifiers>
          <isin value="US955023RE86"/>
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        <balance>725000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>842522.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GRAND RAPIDS MI WTR SUPPLY SYS</name>
        <lei>N/A</lei>
        <title>GRAND RAPID WTR 5% 1/1/35</title>
        <cusip>386316NC3</cusip>
        <identifiers>
          <isin value="US386316NC37"/>
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        <balance>920000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1107836.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PORTAGE MI PUB SCHS</name>
        <lei>N/A</lei>
        <title>PORTAGE MI PUB 5% 11/1/35</title>
        <cusip>735779MV9</cusip>
        <identifiers>
          <isin value="US735779MV90"/>
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        <balance>1300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1538095.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WESTERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WESTRN MI UNIV 5% 11/15/2026</title>
        <cusip>958638UJ5</cusip>
        <identifiers>
          <isin value="US958638UJ53"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>472312.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/2031 AMT</title>
        <cusip>944514RM2</cusip>
        <identifiers>
          <isin value="US944514RM29"/>
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        <balance>860000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>968962.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LANSING MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>LANSING MICH SC 4% 5/1/2022</title>
        <cusip>516444RU2</cusip>
        <identifiers>
          <isin value="US516444RU20"/>
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        <balance>345000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>367104.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GRAND TRAVERSE CNTY MI HOSP</name>
        <lei>N/A</lei>
        <title>MUNSON HEALTHCARE-SER A</title>
        <cusip>386523EH3</cusip>
        <identifiers>
          <isin value="US386523EH32"/>
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        <balance>1400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1545264.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GROSSE POINTE MI PUB SCH SYS</name>
        <lei>N/A</lei>
        <title>GROSSE PT PSS 5% 5/1/2039</title>
        <cusip>399100KZ8</cusip>
        <identifiers>
          <isin value="US399100KZ85"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1266500.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WESTERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WESTRN MI UNIV 5% 11/15/2028</title>
        <cusip>958638UL0</cusip>
        <identifiers>
          <isin value="US958638UL00"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>763522.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>YPSILANTI MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>YPSILANTI MI SD 5% 5/1/30</title>
        <cusip>987864NS0</cusip>
        <identifiers>
          <isin value="US987864NS06"/>
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        <balance>1550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1908391.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>YPSILANTI MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>YPSILANTI MI SD 5% 5/1/32</title>
        <cusip>987864NU5</cusip>
        <identifiers>
          <isin value="US987864NU51"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2449700.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>GREAT LAKES SEWER AUTH MICH</name>
        <lei>N/A</lei>
        <title>GT LAKES SEW MI 5% 7/1/2028</title>
        <cusip>39081HBY7</cusip>
        <identifiers>
          <isin value="US39081HBY71"/>
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        <balance>1125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1448313.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DETROIT MI DOWNTOWN DEV AUTH TAX</name>
        <lei>N/A</lei>
        <title>DETROIT DWNTWN 5% 7/1/2029</title>
        <cusip>251135GF0</cusip>
        <identifiers>
          <isin value="US251135GF04"/>
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        <balance>1340000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1534916.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>WARREN MI CSD</name>
        <lei>N/A</lei>
        <title>WARREN MI CSD 5% 5/1/2035</title>
        <cusip>935341K22</cusip>
        <identifiers>
          <isin value="US935341K228"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1486932.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
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      <invstOrSec>
        <name>BRANDON SCH DIST MI</name>
        <lei>N/A</lei>
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          <isin value="US105295MA47"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
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          <isin value="US59447TXH12"/>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
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          <isin value="US59447P7R61"/>
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        <name>MICHIGAN FIN AUTH REV</name>
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        <cusip>59447PUS8</cusip>
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          <isin value="US59447PUS81"/>
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      <invstOrSec>
        <name>YPSILANTI MICH SCH DIST</name>
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          <isin value="US987864NR23"/>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MILAN MICH AREA SCHS</name>
        <lei>N/A</lei>
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        <cusip>598801JW9</cusip>
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          <isin value="US598801JW98"/>
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        <balance>950000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SOUTH LYON MI CMNTY SCHS</name>
        <lei>N/A</lei>
        <title>SO LYONS MI CSD 5% 5/1/23Q</title>
        <cusip>838736WW2</cusip>
        <identifiers>
          <isin value="US838736WW26"/>
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        <balance>1575000.00000000</balance>
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        <valUSD>1759432.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-01</maturityDt>
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      <invstOrSec>
        <name>OAKLAND UNIV MICH REV</name>
        <lei>N/A</lei>
        <title>OAKLAND-U MI SER A 5% 3/1/27</title>
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        <identifiers>
          <isin value="US673588FD61"/>
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        <balance>815000.00000000</balance>
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      <invstOrSec>
        <name>WARREN MI CSD</name>
        <lei>N/A</lei>
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        <cusip>935341G76</cusip>
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          <isin value="US935341G762"/>
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        <balance>750000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-05-01</maturityDt>
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        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
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        <cusip>59447TSK0</cusip>
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          <isin value="US59447TSK06"/>
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      <invstOrSec>
        <name>GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV</name>
        <lei>N/A</lei>
        <title>GREAT LAKES WTR 5% 7/1/2045</title>
        <cusip>39081JDJ4</cusip>
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          <isin value="US39081JDJ43"/>
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      <invstOrSec>
        <name>LANSING MI COMMUNITY COLLEGE</name>
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        <cusip>516408JS1</cusip>
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          <isin value="US516408JS10"/>
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        <name>SAGINAW MI HOSP FIN AUTH HOSP</name>
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        <title>SAGINAW HOSP 4% 7/1/2040</title>
        <cusip>786744JF0</cusip>
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          <isin value="US786744JF09"/>
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      <invstOrSec>
        <name>LANSING MI COMMUNITY COLLEGE</name>
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        <cusip>516408KT7</cusip>
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          <isin value="US516408KT73"/>
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      <invstOrSec>
        <name>ZEELAND MICH PUB SCHS</name>
        <lei>N/A</lei>
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        <cusip>989258MQ8</cusip>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>Crittenton Hosp MI 5% 6/1/27</title>
        <cusip>59447PSS1</cusip>
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          <isin value="US59447PSS10"/>
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      <invstOrSec>
        <name>DETROIT/WAYNE CO MI STAD AUTH</name>
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      <invstOrSec>
        <name>GRAND RAPIDS MI SAN SWR SYS</name>
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      <invstOrSec>
        <name>LAKE ORION MI SCH DIST</name>
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        <name>DETROIT MI</name>
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      <invstOrSec>
        <name>OAKLAND UNIV MICH REV</name>
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        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
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        <title>WAYNE CO MI AAR 5% 12/1/2029 AMT</title>
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      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GRAND RAPIDS MI SAN SWR SYS</name>
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          <isin value="US386289LC40"/>
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      <invstOrSec>
        <name>ROYAL OAK MI HOSP FIN AUTH</name>
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          <isin value="US780486GT76"/>
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        <fairValLevel>2</fairValLevel>
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        <name>ROSEVILLE MICH CMNTY SCHS</name>
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        <name>MICHIGAN FIN AUTH RE</name>
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        <name>MICHIGAN FIN AUTH REV</name>
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        <name>MICHIGAN FIN AUTH LTD OBLIG REV</name>
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        <name>MICHIGAN ST STRATEGIC FD LTD OBLIG REV</name>
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        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
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        <name>LANSING MICH SCH DIST</name>
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        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
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        <name>DETROIT/WAYNE CO MI STAD AUTH</name>
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          <isin value="US251440BD43"/>
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      <invstOrSec>
        <name>CHIPPEWA VALLEY MI SCHS</name>
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          <isin value="US170016ZR37"/>
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      <invstOrSec>
        <name>SAGINAW MI HOSP FIN AUTH HOSP</name>
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        <title>SAGINAW MICH HOSP FIN AUTH</title>
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          <isin value="US786744HJ49"/>
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      <invstOrSec>
        <name>FLINT MI HOSP BLDG AUTH REV</name>
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        <cusip>339511EY9</cusip>
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          <isin value="US339511EY91"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>LANSING MI COMMUNITY COLLEGE</name>
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        <cusip>516408JM4</cusip>
        <identifiers>
          <isin value="US516408JM40"/>
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        <balance>1190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1291328.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 3.5% 11/15/2044</title>
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          <isin value="US59447TWY53"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>WARREN MI CSD</name>
        <lei>N/A</lei>
        <title>WARREN MI CSD 5% 5/1/2037</title>
        <cusip>935341K48</cusip>
        <identifiers>
          <isin value="US935341K483"/>
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        <balance>1300000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH 5% 10/1/2025</title>
        <cusip>59447PUN9</cusip>
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          <isin value="US59447PUN94"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</maturityDt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH 5% 7/1/2022</title>
        <cusip>59447PC82</cusip>
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          <isin value="US59447PC825"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 11/15/2024</title>
        <cusip>59447TLZ4</cusip>
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          <isin value="US59447TLZ48"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MICHIGAN FIN AUTH REV</name>
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          <isin value="US59447PQN41"/>
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        <name>MICHIGAN FIN AUTH RE</name>
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          <isin value="US59447TSL88"/>
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        <name>SAGINAW MI HOSP FIN AUTH HOSP</name>
        <lei>N/A</lei>
        <title>SAGINAW HOSP 4% 7/1/2039</title>
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          <isin value="US786744JE34"/>
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        <name>MICHIGAN FIN AUTH RE</name>
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          <isin value="US59447TNF65"/>
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      <invstOrSec>
        <name>PORTAGE MI PUB SCHS</name>
        <lei>N/A</lei>
        <title>PORTAGE MI PUB 5% 11/1/2032</title>
        <cusip>735779MS6</cusip>
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          <isin value="US735779MS61"/>
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      <invstOrSec>
        <name>PORTAGE MI PUB SCHS</name>
        <lei>N/A</lei>
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          <isin value="US735779MY30"/>
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        <balance>755000.00000000</balance>
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        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>ZEELAND MICH PUB SCHS</name>
        <lei>N/A</lei>
        <title>ZEELAND MI SD 5% 5/1/30</title>
        <cusip>989258MR6</cusip>
        <identifiers>
          <isin value="US989258MR65"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1185190.00000000</valUSD>
        <pctVal>0.175063750621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH SER H-1 5% 10/22</title>
        <cusip>59447PK26</cusip>
        <identifiers>
          <isin value="US59447PK265"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1057000.00000000</valUSD>
        <pctVal>0.156128877569</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>ROCKFORD MI PUB SCH DIST UTGO</name>
        <lei>N/A</lei>
        <title>ROCKFRD MI SCH 4% 5/1/2022</title>
        <cusip>773318VB3</cusip>
        <identifiers>
          <isin value="US773318VB35"/>
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        <balance>1575000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1675910.25000000</valUSD>
        <pctVal>0.247547763708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</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>GUAM INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>GUAM INTL ARPT 5% 10/1/21@</title>
        <cusip>40064RDL0</cusip>
        <identifiers>
          <isin value="US40064RDL06"/>
        </identifiers>
        <balance>1860000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1852150.80000000</valUSD>
        <pctVal>0.273580156569</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>GRANDVILLE MICH PUB SCHS DIST</name>
        <lei>N/A</lei>
        <title>GRANDVILLE MICH 4% 5/1/2040</title>
        <cusip>386892RQ8</cusip>
        <identifiers>
          <isin value="US386892RQ88"/>
        </identifiers>
        <balance>1300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1548092.00000000</valUSD>
        <pctVal>0.228667801640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</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>OAKLAND UNIV MICH REV</name>
        <lei>N/A</lei>
        <title>OAKLAND-U MI SER A 5% 3/1/38</title>
        <cusip>673588FL8</cusip>
        <identifiers>
          <isin value="US673588FL87"/>
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        <balance>2900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3147341.00000000</valUSD>
        <pctVal>0.464891975079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESTERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WESTRN MI UNIV 5% 11/15/2025</title>
        <cusip>958638UH9</cusip>
        <identifiers>
          <isin value="US958638UH97"/>
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        <balance>320000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>378150.40000000</valUSD>
        <pctVal>0.055856383637</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>MICHIGAN ST HSG DEV AUTH MFREV</name>
        <lei>N/A</lei>
        <title>MI HDA MF 2005 L=FHCN V1@</title>
        <cusip>594650SQ7</cusip>
        <identifiers>
          <ticker value="MISMFH"/>
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        <balance>2780000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2780000.00000000</valUSD>
        <pctVal>0.410632241857</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00220000</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>BRANDON SCH DIST MI</name>
        <lei>N/A</lei>
        <title>BRANDON SD MI 5% 5/1/30</title>
        <cusip>105295LW7</cusip>
        <identifiers>
          <isin value="US105295LW75"/>
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        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1504387.50000000</valUSD>
        <pctVal>0.222212234441</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/2032 @</title>
        <cusip>944514PB8</cusip>
        <identifiers>
          <isin value="US944514PB81"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1611030.00000000</valUSD>
        <pctVal>0.237964338345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>OAKLAND UNIV MICH REV</name>
        <lei>N/A</lei>
        <title>OAKLAND UNIV MI 5% 3/1/24</title>
        <cusip>673588DW6</cusip>
        <identifiers>
          <isin value="US673588DW60"/>
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        <balance>1170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1252286.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DETROIT/WAYNE CO MI STAD AUTH</name>
        <lei>N/A</lei>
        <title>DETROIT WAYNE 5% 10/01/2026</title>
        <cusip>251440BF9</cusip>
        <identifiers>
          <isin value="US251440BF90"/>
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        <balance>4850000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5170973.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUDSONVILLE MICH PUB SCHS</name>
        <lei>N/A</lei>
        <title>HUDSONVILLE MI 5% 05/01/2022</title>
        <cusip>444240PR0</cusip>
        <identifiers>
          <isin value="US444240PR02"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>649938.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/2037</title>
        <cusip>944514VH8</cusip>
        <identifiers>
          <isin value="US944514VH87"/>
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        <balance>545000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>642789.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GRAND VALLEY MI ST UNIV REV</name>
        <lei>N/A</lei>
        <title>GRAND VLY MI UN 5% 12/1/2034</title>
        <cusip>386545MN4</cusip>
        <identifiers>
          <isin value="US386545MN46"/>
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        <balance>1075000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1313521.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WARREN MI CSD</name>
        <lei>N/A</lei>
        <title>WARREN MI CSD 5% 5/1/2034</title>
        <cusip>935341J99</cusip>
        <identifiers>
          <isin value="US935341J998"/>
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        <balance>1175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1466200.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN 3.75% MT</title>
        <cusip>594654GD1</cusip>
        <identifiers>
          <isin value="US594654GD18"/>
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        <balance>3790000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4162632.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03750000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAGINAW MI HOSP FIN AUTH HOSP</name>
        <lei>N/A</lei>
        <title>SAGINAW HOSP 4% 7/1/2036</title>
        <cusip>786744JB9</cusip>
        <identifiers>
          <isin value="US786744JB94"/>
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        <balance>770000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>902155.10000000</valUSD>
        <pctVal>0.133256824178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
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          <isin value="US59447TGA51"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN ST HOSP FIN AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>59465HVN3</cusip>
        <identifiers>
          <isin value="US59465HVN33"/>
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        <curCd>USD</curCd>
        <valUSD>1020758.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 11/15/2048</title>
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          <isin value="US59447TUH49"/>
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        <balance>3020000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3629828.60000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>WESTERN MI UNIV REVS</name>
        <lei>N/A</lei>
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        <cusip>958638WN4</cusip>
        <identifiers>
          <isin value="US958638WN48"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2420220.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>KALAMAZOO MI HFA HOSP FAC REV</name>
        <lei>N/A</lei>
        <title>KALAMAZOO MI HFA 5% 5/15/28</title>
        <cusip>483233NR9</cusip>
        <identifiers>
          <isin value="US483233NR92"/>
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        <balance>780000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>925516.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>KALAMAZOO MI HFA HOSP FAC REV</name>
        <lei>N/A</lei>
        <title>KALAMAZOO HFA H 4% 5/15/36</title>
        <cusip>483233NX6</cusip>
        <identifiers>
          <isin value="US483233NX60"/>
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        <balance>2000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHTENAW MICH INTER SCH DIST</name>
        <lei>N/A</lei>
        <title>WASHTENAW MICH 5% 5/1/2023</title>
        <cusip>941009CS9</cusip>
        <identifiers>
          <isin value="US941009CS93"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2254020.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OAKLAND UNIV MICH REV</name>
        <lei>N/A</lei>
        <title>OAKLAND-U MI SER A 5% 3/1/26</title>
        <cusip>673588FC8</cusip>
        <identifiers>
          <isin value="US673588FC88"/>
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        <balance>1620000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1793064.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/2032 @</title>
        <cusip>944514ZZ4</cusip>
        <identifiers>
          <isin value="US944514ZZ40"/>
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        <balance>2945000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3552877.45000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN ST HOSP FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI HOSP(ASCENSION HLTH) 5% 11/15/47</title>
        <cusip>59465HTY2</cusip>
        <identifiers>
          <isin value="US59465HTY26"/>
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        <balance>18000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LANSING MICH BRD WTR and LT UTIL SYS REV</name>
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        <cusip>516391CJ6</cusip>
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          <isin value="US516391CJ66"/>
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        <balance>340000.00000000</balance>
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      <invstOrSec>
        <name>LANSING MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>LANSING MICH SC 4% 5/1/2021</title>
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          <isin value="US516444RT56"/>
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          <maturityDt>2021-05-01</maturityDt>
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        <name>BATTLE CREEK MI SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>071446BT4</cusip>
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          <isin value="US071446BT41"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>HUDSONVILLE MICH PUB SCHS</name>
        <lei>N/A</lei>
        <title>HUDSONVILLE MI 5% 5/1/2032</title>
        <cusip>444240SE6</cusip>
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          <isin value="US444240SE61"/>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 11/1/2035</title>
        <cusip>59447TSH7</cusip>
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          <isin value="US59447TSH76"/>
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        <name>GRAND TRAVERSE CNTY MI HOSP</name>
        <lei>N/A</lei>
        <title>GRAND TRAV HOSP A 5% 7/1/2044</title>
        <cusip>386523GW8</cusip>
        <identifiers>
          <isin value="US386523GW80"/>
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        <balance>1110000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2044-07-01</maturityDt>
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      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI ARPT 5% 12/1/22@</title>
        <cusip>944514MN5</cusip>
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          <isin value="US944514MN56"/>
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        <balance>5260000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-12-01</maturityDt>
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          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH 5% 7/1/2025</title>
        <cusip>59447PZG9</cusip>
        <identifiers>
          <isin value="US59447PZG98"/>
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        <curCd>USD</curCd>
        <valUSD>2149737.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GREAT LAKES SEWER AUTH MICH</name>
        <lei>N/A</lei>
        <title>GT LAKES SEW MI 5% 7/1/2043</title>
        <cusip>39081HBS0</cusip>
        <identifiers>
          <isin value="US39081HBS04"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12117700.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GRAND RAPIDS MI SAN SWR SYS</name>
        <lei>N/A</lei>
        <title>GRAND RAPID SWR 5% 1/1/2033</title>
        <cusip>386289LT7</cusip>
        <identifiers>
          <isin value="US386289LT74"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>314945.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NOVI COMM SCHL MI</name>
        <lei>N/A</lei>
        <title>NOVI MI CSD 5% 5/1/2043</title>
        <cusip>670029VT1</cusip>
        <identifiers>
          <isin value="US670029VT17"/>
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        <balance>1150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1472540.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BAY CITY MI SCH DIST</name>
        <lei>N/A</lei>
        <title>BAY CITY MI SCHOOLS QSBLF 5% 11/1/2027</title>
        <cusip>072104GN6</cusip>
        <identifiers>
          <isin value="US072104GN68"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>816942.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ZEELAND MICH PUB SCHS</name>
        <lei>N/A</lei>
        <title>ZEELAND MI SD 5% 5/1/2027</title>
        <cusip>989258MN5</cusip>
        <identifiers>
          <isin value="US989258MN51"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1193530.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <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>
        <name>HUDSONVILLE MICH PUB SCHS</name>
        <lei>N/A</lei>
        <title>HUDSONVILLE MI 5% 5/1/2031</title>
        <cusip>444240SD8</cusip>
        <identifiers>
          <isin value="US444240SD88"/>
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        <balance>430000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>540613.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WARREN MI CSD</name>
        <lei>N/A</lei>
        <title>WARREN MI CSD 5% 5/1/2038</title>
        <cusip>935341K55</cusip>
        <identifiers>
          <isin value="US935341K558"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>977344.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARQUETTE MI LT and PWR ELEC UTIL</name>
        <lei>N/A</lei>
        <title>MARQUETTE LTPWR 5% 7/1/30</title>
        <cusip>571498CS1</cusip>
        <identifiers>
          <isin value="US571498CS13"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1104075.00000000</valUSD>
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        <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>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH 5% 11/15/2025</title>
        <cusip>59447PQP9</cusip>
        <identifiers>
          <isin value="US59447PQP98"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1086770.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ZEELAND MICH PUB SCHS</name>
        <lei>N/A</lei>
        <title>ZEELAND MI SD 5% 5/1/28</title>
        <cusip>989258MP0</cusip>
        <identifiers>
          <isin value="US989258MP00"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>594675.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>ROCKFORD MI PUB SCH DIST UTGO</name>
        <lei>N/A</lei>
        <title>ROCKFRD MI SCH 5% 5/1/2042</title>
        <cusip>773318VX5</cusip>
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          <isin value="US773318VX54"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 7/1/27</title>
        <cusip>59447TFC2</cusip>
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          <isin value="US59447TFC27"/>
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        <balance>1215000.00000000</balance>
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        <valUSD>1450467.00000000</valUSD>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU(MCLAREN HLTHCRE) 4% 2/15/50</title>
        <cusip>59447TVE0</cusip>
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          <isin value="US59447TVE09"/>
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        <valUSD>4443080.00000000</valUSD>
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          <maturityDt>2050-02-15</maturityDt>
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          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>DETROIT MI CITY SCH DIST</name>
        <lei>N/A</lei>
        <title>DETROIT MICH CITY SCH DIST SCH BLDG and SITE SER 05-A FSA</title>
        <cusip>251129Z39</cusip>
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          <isin value="US251129Z395"/>
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        <balance>4000000.00000000</balance>
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        <valUSD>5396160.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2030-05-01</maturityDt>
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          <annualizedRt>0.05250000</annualizedRt>
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      <invstOrSec>
        <name>LANSING MICH BRD WTR and LT UTIL SYS REV</name>
        <lei>N/A</lei>
        <title>LANSING MI WTR 5% 7/1/2024</title>
        <cusip>516391CK3</cusip>
        <identifiers>
          <isin value="US516391CK30"/>
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        <balance>375000.00000000</balance>
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        <valUSD>443707.50000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-01</maturityDt>
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          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH SER H-1 5% 10/25</title>
        <cusip>59447PK59</cusip>
        <identifiers>
          <isin value="US59447PK596"/>
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        <balance>2250000.00000000</balance>
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        <valUSD>2658870.00000000</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>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARQUETTE MI LT and PWR ELEC UTIL</name>
        <lei>N/A</lei>
        <title>MARQUETTE LTPWR 5% 7/1/33</title>
        <cusip>571498CV4</cusip>
        <identifiers>
          <isin value="US571498CV42"/>
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        <balance>705000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>851111.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/2030 @</title>
        <cusip>944514ZX9</cusip>
        <identifiers>
          <isin value="US944514ZX91"/>
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        <balance>4365000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5337085.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OAKLAND UNIV MICH REV</name>
        <lei>N/A</lei>
        <title>OAKLAND UNIV MICH REV OAKLAND-U MI 5% 3/1/2039</title>
        <cusip>673588GJ2</cusip>
        <identifiers>
          <isin value="US673588GJ23"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3283410.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <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>DOWNRIVER UTIL WASTEWATER AUTHMICH SWR SYS REV</name>
        <lei>N/A</lei>
        <title>DOWNRIVER UTIL 5% 4/1/2034</title>
        <cusip>26111PAP0</cusip>
        <identifiers>
          <isin value="US26111PAP09"/>
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        <balance>520000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>644722.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>WARREN MI CSD</name>
        <lei>N/A</lei>
        <title>WARREN MI CSD 5% 5/1/2036</title>
        <cusip>935341K30</cusip>
        <identifiers>
          <isin value="US935341K301"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1228670.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTH LYON MI CMNTY SCHS</name>
        <lei>N/A</lei>
        <title>SO LYONS MI CSD 5% 5/1/24Q</title>
        <cusip>838736WX0</cusip>
        <identifiers>
          <isin value="US838736WX09"/>
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        <balance>3200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3695072.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHIPPEWA VALLEY MI SCHS</name>
        <lei>N/A</lei>
        <title>CHIPPEWA MI SD 5% 5/1/35</title>
        <cusip>170016ZU6</cusip>
        <identifiers>
          <isin value="US170016ZU65"/>
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        <balance>775000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>933061.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <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>GROSSE POINTE MI PUB SCH SYS</name>
        <lei>N/A</lei>
        <title>GROSSE PT PSS 5% 5/1/2038</title>
        <cusip>399100KY1</cusip>
        <identifiers>
          <isin value="US399100KY11"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1270900.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BATTLE CREEK MI SCH DIST</name>
        <lei>N/A</lei>
        <title>BATTLECREEK SCD MI 5% 5/1/2036</title>
        <cusip>071446BS6</cusip>
        <identifiers>
          <isin value="US071446BS67"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1808955.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/2036</title>
        <cusip>944514UF3</cusip>
        <identifiers>
          <isin value="US944514UF31"/>
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        <balance>5760000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6558163.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV</name>
        <lei>N/A</lei>
        <title>GREAT LAKES WTR 5.25% 7/1/2035</title>
        <cusip>39081JAS7</cusip>
        <identifiers>
          <isin value="US39081JAS78"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2392000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05250000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN MT 3.50% 12/1/2050</title>
        <cusip>594654JK2</cusip>
        <identifiers>
          <isin value="US594654JK24"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3294210.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WESTERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WESTRN MI UNIV 5% 11/15/2031</title>
        <cusip>958638UP1</cusip>
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          <isin value="US958638UP14"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>822255.00000000</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>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>BRANDON SCH DIST MI</name>
        <lei>N/A</lei>
        <title>BRANDON SD MI 5% 5/1/28</title>
        <cusip>105295LU1</cusip>
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          <isin value="US105295LU10"/>
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        <balance>2515000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3037466.10000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/25@</title>
        <cusip>944514TB4</cusip>
        <identifiers>
          <isin value="US944514TB46"/>
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        <balance>2735000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3219177.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>WARREN MI CSD</name>
        <lei>N/A</lei>
        <title>WARREN MI CSD 5% 5/1/2032</title>
        <cusip>935341J73</cusip>
        <identifiers>
          <isin value="US935341J733"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1384504.00000000</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>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WEST OTTAWA MI PUB SCH DIST</name>
        <lei>N/A</lei>
        <title>W OTTAWA MI SD 5% 5/1/2035</title>
        <cusip>955023RK4</cusip>
        <identifiers>
          <isin value="US955023RK47"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>289085.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GRAND VALLEY MI ST UNIV REV</name>
        <lei>N/A</lei>
        <title>GRAND VLY MI UN 5% 12/1/2035</title>
        <cusip>386545MP9</cusip>
        <identifiers>
          <isin value="US386545MP93"/>
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        <balance>1225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1490714.75000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
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          <isin value="US59447TED19"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>GRAND VALLEY MI ST UNIV REV</name>
        <lei>N/A</lei>
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          <isin value="US386545MR59"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>HUDSONVILLE MICH PUB SCHS</name>
        <lei>N/A</lei>
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        <cusip>444240SG1</cusip>
        <identifiers>
          <isin value="US444240SG10"/>
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        <curCd>USD</curCd>
        <valUSD>1240520.00000000</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>2034-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARQUETTE MI LT and PWR ELEC UTIL</name>
        <lei>N/A</lei>
        <title>MARQUETTE LTPWR 5% 7/1/29</title>
        <cusip>571498CR3</cusip>
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          <isin value="US571498CR30"/>
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        <balance>780000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>960999.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>944514RQ3</cusip>
        <identifiers>
          <isin value="US944514RQ33"/>
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        <balance>1655000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1850571.35000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FARMINGTON MICH PUB SCH DIST</name>
        <lei>N/A</lei>
        <title>FARMINGTON PUBI 4% 5/1/2040</title>
        <cusip>311261UU3</cusip>
        <identifiers>
          <isin value="US311261UU39"/>
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        <curCd>USD</curCd>
        <valUSD>3545910.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WARREN MI CSD</name>
        <lei>N/A</lei>
        <title>WARREN MI CSD 4% 5/1/2025</title>
        <cusip>935341G92</cusip>
        <identifiers>
          <isin value="US935341G929"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>571650.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHIPPEWA VALLEY MI SCHS</name>
        <lei>N/A</lei>
        <title>CHIPPEWA MI SD 5% 5/1/33</title>
        <cusip>170016ZS1</cusip>
        <identifiers>
          <isin value="US170016ZS10"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1206830.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MACOMB INTERCEPTOR DRAIN DRAINAGE DISTRICT</name>
        <lei>N/A</lei>
        <title>MACOMB INTERCEP 5% 5/1/2033</title>
        <cusip>55539PCM8</cusip>
        <identifiers>
          <isin value="US55539PCM86"/>
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        <balance>2100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2619771.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>OAKLAND UNIV MICH REV</name>
        <lei>N/A</lei>
        <title>OAKLAND-U MI SER A 5% 3/1/25</title>
        <cusip>673588FB0</cusip>
        <identifiers>
          <isin value="US673588FB06"/>
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        <balance>995000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SAGINAW MI HOSP FIN AUTH HOSP</name>
        <lei>N/A</lei>
        <title>SAGINAW HOSP 4% 7/1/2037</title>
        <cusip>786744JC7</cusip>
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          <isin value="US786744JC77"/>
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        <balance>820000.00000000</balance>
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        <valUSD>957251.60000000</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>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 5/15/2054</title>
        <cusip>59447TWP4</cusip>
        <identifiers>
          <isin value="US59447TWP47"/>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-15</maturityDt>
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        <name>GRAND RAPIDS MI SAN SWR SYS</name>
        <lei>N/A</lei>
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        <cusip>386289JY9</cusip>
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          <isin value="US386289JY97"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>GREAT LAKES SEWER AUTH MICH</name>
        <lei>N/A</lei>
        <title>GT LAKES SEW MI 5% 7/1/2048</title>
        <cusip>39081HBT8</cusip>
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          <isin value="US39081HBT86"/>
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        <balance>5000000.00000000</balance>
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        <valUSD>6018450.00000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2048-07-01</maturityDt>
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        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 4% 11/15/2044 MT</title>
        <cusip>59447TWN9</cusip>
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          <isin value="US59447TWN98"/>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH MIDMICHIGAN OBLIGATED GROUP 5% 6/1/25</title>
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          <isin value="US59447P5J63"/>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH SER H-1 5% 10/39</title>
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          <isin value="US59447PL743"/>
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        <balance>4725000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2039-10-01</maturityDt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LINCOLN MI CONS SCH DIST</name>
        <lei>N/A</lei>
        <title>LINCOLN MI CSD 5% 5/1/2028</title>
        <cusip>533883MV3</cusip>
        <identifiers>
          <isin value="US533883MV35"/>
        </identifiers>
        <balance>2025000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2473902.00000000</valUSD>
        <pctVal>0.365418677840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-01</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>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH 5% 7/1/2022</title>
        <cusip>59447PZD6</cusip>
        <identifiers>
          <isin value="US59447PZD67"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2183540.00000000</valUSD>
        <pctVal>0.322529469563</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-01</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>
      <invstOrSec>
        <name>GRAND RAPIDS MI PUB SCHS</name>
        <lei>N/A</lei>
        <title>GRAND RAPIDS MI 5% 5/1/29</title>
        <cusip>386280QV6</cusip>
        <identifiers>
          <isin value="US386280QV66"/>
        </identifiers>
        <balance>480000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>604200.00000000</valUSD>
        <pctVal>0.089246043356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</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>LANSING MICH BRD WTR and LT UTIL SYS REV</name>
        <lei>N/A</lei>
        <title>LANSING MI WTR 5% 7/1/2022</title>
        <cusip>516391CH0</cusip>
        <identifiers>
          <isin value="US516391CH01"/>
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        <balance>230000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>251737.30000000</valUSD>
        <pctVal>0.037183975488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-01</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>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MI FIN AUTH 5% 01/01/2040</title>
        <cusip>59447PTG6</cusip>
        <identifiers>
          <isin value="US59447PTG62"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3208710.00000000</valUSD>
        <pctVal>0.473956755672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-01</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>ROCKFORD MI PUB SCH DIST UTGO</name>
        <lei>N/A</lei>
        <title>ROCKFRD MI SCH 5% 5/1/2044</title>
        <cusip>773318VY3</cusip>
        <identifiers>
          <isin value="US773318VY38"/>
        </identifiers>
        <balance>6100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7564244.00000000</valUSD>
        <pctVal>1.117310241610</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-01</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>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 1/1/33</title>
        <cusip>59447TNH2</cusip>
        <identifiers>
          <isin value="US59447TNH22"/>
        </identifiers>
        <balance>1915000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2223966.10000000</valUSD>
        <pctVal>0.328500786135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>GUAM INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>GUAM INTL ARPT 6.25% 10/1/34@</title>
        <cusip>40064RDN6</cusip>
        <identifiers>
          <isin value="US40064RDN61"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1029750.00000000</valUSD>
        <pctVal>0.152103795342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.06250000</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>MARQUETTE MI LT and PWR ELEC UTIL</name>
        <lei>N/A</lei>
        <title>MARQUETTE LTPWR 5% 7/1/32</title>
        <cusip>571498CU6</cusip>
        <identifiers>
          <isin value="US571498CU68"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1213790.00000000</valUSD>
        <pctVal>0.179288240591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</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>
      <invstOrSec>
        <name>GRAND VALLEY MI ST UNIV REV</name>
        <lei>N/A</lei>
        <title>GRAND VLY MI UN 5% 12/1/2043</title>
        <cusip>386545MT1</cusip>
        <identifiers>
          <isin value="US386545MT16"/>
        </identifiers>
        <balance>1400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1668338.00000000</valUSD>
        <pctVal>0.246429270904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-01</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>2020-07-30</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>
