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        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
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        <name>WESTERN MI UNIV REVS</name>
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          <isin value="US958638UL00"/>
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        <name>CHIPPEWA VALLEY MI SCHS</name>
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        <name>CHIPPEWA VALLEY MI SCHS</name>
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        <name>CHIPPEWA VALLEY MI SCHS</name>
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        <name>LINCOLN MI CONS SCH DIST</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <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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        <curCd>USD</curCd>
        <valUSD>510523.55000000</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>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LINCOLN MI CONS SCH DIST</name>
        <lei>N/A</lei>
        <title>LINCOLN MI CSD 5% 5/1/2032</title>
        <cusip>533883MZ4</cusip>
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          <isin value="US533883MZ49"/>
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        <curCd>USD</curCd>
        <valUSD>1020939.60000000</valUSD>
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        <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>
      <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>796885.99000000</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>2029-07-01</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>
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        <cusip>571498CS1</cusip>
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          <isin value="US571498CS13"/>
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        <curCd>USD</curCd>
        <valUSD>918927.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
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      <invstOrSec>
        <name>MARQUETTE MI LT and PWR ELEC UTIL</name>
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        <title>MARQUETTE LTPWR 5% 7/1/31</title>
        <cusip>571498CT9</cusip>
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          <isin value="US571498CT95"/>
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        <curCd>USD</curCd>
        <valUSD>795730.42000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
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      <invstOrSec>
        <name>MARQUETTE MI LT and PWR ELEC UTIL</name>
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        <title>MARQUETTE LTPWR 5% 7/1/32</title>
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          <isin value="US571498CU68"/>
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        <valUSD>1019427.60000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <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>
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          <isin value="US571498CV42"/>
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        <curCd>USD</curCd>
        <valUSD>718002.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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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>
        <identifiers>
          <isin value="US735779MS61"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2548053.75000000</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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <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>1273490.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</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% 5/1/2035</title>
        <cusip>935341G27</cusip>
        <identifiers>
          <isin value="US935341G275"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1270548.25000000</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>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>YPSILANTI MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>YPSILANTI MI SD 5% 5/1/29</title>
        <cusip>987864NR2</cusip>
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          <isin value="US987864NR23"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>YPSILANTI MICH SCH DIST</name>
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          <isin value="US987864NU51"/>
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          <maturityDt>2032-05-01</maturityDt>
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        <name>GRAND RAPIDS MI WTR SUPPLY SYS</name>
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          <isin value="US386316MY65"/>
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        <name>GRAND RAPIDS MI WTR SUPPLY SYS</name>
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        <name>GRAND RAPIDS MI WTR SUPPLY SYS</name>
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        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 11/15/2028</title>
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          <isin value="US59447TMD27"/>
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        <name>MICHIGAN FIN AUTH RE</name>
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          <isin value="US59447TME00"/>
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          <isin value="US59447TMF74"/>
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      <invstOrSec>
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          <isin value="US59447TND18"/>
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        <name>MICHIGAN FIN AUTH RE</name>
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          <isin value="US59447TNG49"/>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
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        <cusip>59447TNH2</cusip>
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          <isin value="US59447TNH22"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
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        <cusip>59447TNJ8</cusip>
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          <isin value="US59447TNJ87"/>
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        <balance>2135000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV</name>
        <lei>N/A</lei>
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        <cusip>39081JAS7</cusip>
        <identifiers>
          <isin value="US39081JAS78"/>
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        <valUSD>2034587.00000000</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>
          <annualizedRt>0.05250000</annualizedRt>
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        <securityLending>
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      <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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        <valUSD>10018.53000000</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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      <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"/>
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        <balance>480000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <name>MACOMB INTERCEPTOR DRAIN DRAINAGE DISTRICT</name>
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        <cusip>55539PCN6</cusip>
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          <isin value="US55539PCN69"/>
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        <balance>1750000.00000000</balance>
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        <name>MICHIGAN HSG DEV RENTAL HSG</name>
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          <isin value="US59465M3J23"/>
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      <invstOrSec>
        <name>OAKLAND UNIV MICH REV</name>
        <lei>N/A</lei>
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        <cusip>673588GV5</cusip>
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          <isin value="US673588GV50"/>
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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>
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          <isin value="US935341G929"/>
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        <balance>500000.00000000</balance>
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        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/2025</title>
        <cusip>944514XY9</cusip>
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          <isin value="US944514XY92"/>
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        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
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        <title>WAYNE CO MI AAR 5% 12/1/2026</title>
        <cusip>944514XZ6</cusip>
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          <isin value="US944514XZ67"/>
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          <maturityDt>2026-12-01</maturityDt>
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      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/2027</title>
        <cusip>944514YA0</cusip>
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          <isin value="US944514YA08"/>
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        <balance>1460000.00000000</balance>
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          <maturityDt>2027-12-01</maturityDt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
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          <isin value="US59447TQJ50"/>
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      <invstOrSec>
        <name>MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV</name>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GREAT LAKES SEWER AUTH MICH</name>
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          <isin value="US39081HAD44"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GRAND RAPIDS MI SAN SWR SYS</name>
        <lei>N/A</lei>
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        <cusip>386289LU4</cusip>
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          <isin value="US386289LU48"/>
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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>
        <name>GRAND RAPIDS MI SAN SWR SYS</name>
        <lei>N/A</lei>
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        <cusip>386289LY6</cusip>
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          <isin value="US386289LY69"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WARREN MI CSD</name>
        <lei>N/A</lei>
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          <isin value="US935341J733"/>
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        <balance>1100000.00000000</balance>
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          <couponKind>Fixed</couponKind>
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        <name>MICHIGAN HSG DEV RENTAL HSG</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 5% 11/1/2035</title>
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          <isin value="US59447TSH76"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.05000000</annualizedRt>
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        <name>MICHIGAN FIN AUTH RE</name>
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          <isin value="US59447TSJ33"/>
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        <fairValLevel>2</fairValLevel>
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        <name>DOWNRIVER UTIL WASTEWATER AUTHMICH SWR SYS REV</name>
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          <isin value="US26111PAN50"/>
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        <name>DOWNRIVER UTIL WASTEWATER AUTHMICH SWR SYS REV</name>
        <lei>N/A</lei>
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          <isin value="US26111PAP09"/>
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        <name>DOWNRIVER UTIL WASTEWATER AUTHMICH SWR SYS REV</name>
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        <name>MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV</name>
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        <title>MICHIGAN MT 4.25% 6/1/2049</title>
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        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
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        <title>WAYNE CO MI AAR 5% 12/1/2030 @</title>
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        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
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        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</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 RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 4% 2/15/2044</title>
        <cusip>59447TVA8</cusip>
        <identifiers>
          <isin value="US59447TVA86"/>
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        <balance>4140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3774969.99000000</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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          <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>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU(MCLAREN HLTHCRE) 4% 2/15/50</title>
        <cusip>59447TVE0</cusip>
        <identifiers>
          <isin value="US59447TVE09"/>
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        <balance>6530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5690100.95000000</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>2050-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</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 HSG DEV RENTAL HSG</name>
        <lei>N/A</lei>
        <title>MI ST HDA RENTL 3.35% 10/1/2049</title>
        <cusip>59465M6M2</cusip>
        <identifiers>
          <isin value="US59465M6M25"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2319114.90000000</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>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03350000</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 HSG DEV RENTAL HSG</name>
        <lei>N/A</lei>
        <title>MI ST HDA RENTL 3.6% 10/1/2060</title>
        <cusip>59465M6P5</cusip>
        <identifiers>
          <isin value="US59465M6P55"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1939285.50000000</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>2060-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03600000</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 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>1650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1651440.78000000</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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GROSSE POINTE PARK MICH</name>
        <lei>N/A</lei>
        <title>GROSS MI 2.375% 10/1/2039</title>
        <cusip>399136CF5</cusip>
        <identifiers>
          <isin value="US399136CF53"/>
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        <balance>510000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>381858.52000000</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>2039-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02375000</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 RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 4% 12/1/2049</title>
        <cusip>59447TXH1</cusip>
        <identifiers>
          <isin value="US59447TXH12"/>
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        <balance>8180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7030256.83000000</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>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</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 RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 3% 12/1/2049</title>
        <cusip>59447TXJ7</cusip>
        <identifiers>
          <isin value="US59447TXJ77"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1441681.00000000</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>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</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>GRANDVILLE MICH PUB SCHS DIST</name>
        <lei>N/A</lei>
        <title>GRANDVILLE MICH 4% 5/1/2039</title>
        <cusip>386892RP0</cusip>
        <identifiers>
          <isin value="US386892RP06"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>982069.00000000</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>2039-05-01</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>
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          <isLoanByFund>N</isLoanByFund>
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      </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"/>
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        <balance>1300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1278513.47000000</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>2040-05-01</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>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>769379.23000000</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>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
          <isDefault>N</isDefault>
          <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>SAGINAW MI HOSP FIN AUTH HOSP</name>
        <lei>N/A</lei>
        <title>SAGINAW HOSP 4% 7/1/2039</title>
        <cusip>786744JE3</cusip>
        <identifiers>
          <isin value="US786744JE34"/>
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        <balance>1430000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1392260.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAGINAW MI HOSP FIN AUTH HOSP</name>
        <lei>N/A</lei>
        <title>SAGINAW HOSP 4% 7/1/2040</title>
        <cusip>786744JF0</cusip>
        <identifiers>
          <isin value="US786744JF09"/>
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        <balance>490000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>472310.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</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>
        <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>1692069.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <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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      <invstOrSec>
        <name>FLINT MI HOSP BLDG AUTH REV</name>
        <lei>N/A</lei>
        <title>FLINT MI BLDG 4% 7/1/2041</title>
        <cusip>339511EY9</cusip>
        <identifiers>
          <isin value="US339511EY91"/>
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        <balance>1395000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1250926.63000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</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>FERNDALE MICH PUB SCHS</name>
        <lei>N/A</lei>
        <title>FERNDALE MI PUB 3% 5/1/2045</title>
        <cusip>315162EZ6</cusip>
        <identifiers>
          <isin value="US315162EZ68"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>763242.60000000</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>2045-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
          <isDefault>N</isDefault>
          <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>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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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2924121.00000000</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>2040-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV</name>
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        <name>MICHIGAN ST STRATEGIC FD LTD OBLIG REV</name>
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        <name>MICHIGAN ST STRATEGIC FD LTD OBLIG REV</name>
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        <name>MICHIGAN ST BLDG AUTH REV</name>
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          <isin value="US594615HK57"/>
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          <isin value="US594612ER07"/>
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      <invstOrSec>
        <name>PUERTO RICO HSG FIN AUTH</name>
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        <cusip>74526LFE8</cusip>
        <identifiers>
          <isin value="US74526LFE83"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 4% 6/1/2035</title>
        <cusip>59447TK93</cusip>
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          <isin value="US59447TK937"/>
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        <valUSD>1964570.00000000</valUSD>
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        <name>MICHIGAN FIN AUTH RE</name>
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        <title>MICHIGAN FIN AU 4% 6/1/2037</title>
        <cusip>59447TL35</cusip>
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          <isin value="US59447TL356"/>
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          <isin value="US59447TL687"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MICHIGAN FIN AUTH RE</name>
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          <isin value="US59447TG802"/>
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        <name>DETROIT MI</name>
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        <name>DETROIT MI</name>
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        <name>DETROIT MI</name>
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        <name>DETROIT MI</name>
        <lei>N/A</lei>
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          <isin value="US2510934L18"/>
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      <invstOrSec>
        <name>MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN MT 3% 6/1/2051</title>
        <cusip>594654LR4</cusip>
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          <isin value="US594654LR49"/>
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          <maturityDt>2051-06-01</maturityDt>
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      <invstOrSec>
        <name>LANSING MICH BRD WTR and LT UTIL SYS REV</name>
        <lei>N/A</lei>
        <title>LANSING MI WTR 2% MT</title>
        <cusip>516391DV8</cusip>
        <identifiers>
          <isin value="US516391DV85"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1951275.80000000</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>2051-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.02000000</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% 11/15/2031</title>
        <cusip>958638XP8</cusip>
        <identifiers>
          <isin value="US958638XP86"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>162570.30000000</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>2031-11-15</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>WESTERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WESTRN MI UNIV 5% 11/15/2032</title>
        <cusip>958638XQ6</cusip>
        <identifiers>
          <isin value="US958638XQ69"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>323474.46000000</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>2032-11-15</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESTERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WESTRN MI UNIV 5% 11/15/2036</title>
        <cusip>958638XU7</cusip>
        <identifiers>
          <isin value="US958638XU71"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>425774.40000000</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>2036-11-15</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>WESTERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WESTRN MI UNIV 5% 11/15/2038</title>
        <cusip>958638XW3</cusip>
        <identifiers>
          <isin value="US958638XW38"/>
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        <balance>625000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>658069.63000000</valUSD>
        <pctVal>0.143166056481</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-15</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>WESTERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WESTRN MI UNIV 5% 11/15/2040</title>
        <cusip>958638XY9</cusip>
        <identifiers>
          <isin value="US958638XY93"/>
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        <balance>635000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>664888.82000000</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>2040-11-15</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>DETROIT MI</name>
        <lei>N/A</lei>
        <title>DETROIT MI 5% 4/1/2037</title>
        <cusip>2510934Y3</cusip>
        <identifiers>
          <isin value="US2510934Y39"/>
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        <balance>1875000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1955631.56000000</valUSD>
        <pctVal>0.425456586373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DETROIT MI</name>
        <lei>N/A</lei>
        <title>DETROIT MI 5% 4/1/2039</title>
        <cusip>2510935A4</cusip>
        <identifiers>
          <isin value="US2510935A44"/>
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        <balance>1210000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1254468.95000000</valUSD>
        <pctVal>0.272915455086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH LTD OBLIG REV</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>MI FIN AUTH LTD 5% 9/1/2038</title>
        <cusip>594479GE1</cusip>
        <identifiers>
          <isin value="US594479GE10"/>
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        <balance>1270000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1314557.70000000</valUSD>
        <pctVal>0.285988037354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-01</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>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH LTD OBLIG REV</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>MI FIN AUTH LTD 3% 9/1/2050</title>
        <cusip>594479GK7</cusip>
        <identifiers>
          <isin value="US594479GK79"/>
        </identifiers>
        <balance>2320000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1602686.16000000</valUSD>
        <pctVal>0.348671701054</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</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 FIN AUTH RE</name>
        <lei>N/A</lei>
        <title>MICHIGAN FIN AU 1.20% MT</title>
        <cusip>59447TU68</cusip>
        <identifiers>
          <isin value="US59447TU688"/>
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        <balance>4190000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3887887.59000000</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>2038-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.01200000</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>MICHIGAN ST HSG DEV AUTH RENTHSG REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN ST HS .55% 4/1/2025</title>
        <cusip>59465PAD0</cusip>
        <identifiers>
          <isin value="US59465PAD06"/>
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        <balance>1170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1170000.00000000</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>2025-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00550000</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 RENTHSG REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN ST HS 2.125% 10/1/2036</title>
        <cusip>59465PAV0</cusip>
        <identifiers>
          <isin value="US59465PAV04"/>
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        <balance>1775000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1368984.55000000</valUSD>
        <pctVal>0.297828847393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02125000</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 ST HSG DEV AUTH RENTHSG REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN ST HS 2.45% 10/1/2046</title>
        <cusip>59465PAX6</cusip>
        <identifiers>
          <isin value="US59465PAX69"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1360239.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02450000</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>MICHIGAN ST HSG DEV AUTH RENTHSG REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN ST HS 2.55% 10/1/2051</title>
        <cusip>59465PAY4</cusip>
        <identifiers>
          <isin value="US59465PAY43"/>
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        <balance>1920000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1236460.61000000</valUSD>
        <pctVal>0.268997658391</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02550000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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>944514E38</cusip>
        <identifiers>
          <isin value="US944514E388"/>
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        <balance>1225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1284519.32000000</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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      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>WAYNE CO MI AAR 5% 12/1/2037 @</title>
        <cusip>944514E53</cusip>
        <identifiers>
          <isin value="US944514E537"/>
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        <balance>1520000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1580619.88000000</valUSD>
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        <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>
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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% 12/1/2046 @</title>
        <cusip>944514F29</cusip>
        <identifiers>
          <isin value="US944514F294"/>
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        <balance>1280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1299822.21000000</valUSD>
        <pctVal>0.282782264139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-12-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US944514C226"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GRAND TRAVERSE CNTY MI HOSP</name>
        <lei>N/A</lei>
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          <isin value="US386523JJ43"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
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      <invstOrSec>
        <name>KENTWOOD MICH ECONOMIC DEV</name>
        <lei>N/A</lei>
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          <isin value="US491740FA90"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>KENTWOOD MICH ECONOMIC DEV</name>
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        <title>KENTWOOD MI ECO 4% 11/15/2043 Q</title>
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          <isin value="US491740FB73"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-15</maturityDt>
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      <invstOrSec>
        <name>KENTWOOD MICH ECONOMIC DEV</name>
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        <title>KENTWOOD MI ECO 4% 11/15/2045</title>
        <cusip>491740EZ5</cusip>
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          <isin value="US491740EZ50"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-15</maturityDt>
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      <invstOrSec>
        <name>MICHIGAN TECHNOLOGICAL UNIV</name>
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          <isin value="US594746PY95"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-10-01</maturityDt>
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      <invstOrSec>
        <name>MICHIGAN ST BLDG AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>594615JZ0</cusip>
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          <isin value="US594615JZ09"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN MT(MI-WL 12/17/87) 3% 6/1/52</title>
        <cusip>594654NX9</cusip>
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          <isin value="US594654NX98"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH LTD OBLIG REV</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>MI FIN AUTH LTD 4% 12/1/2036</title>
        <cusip>594479EB9</cusip>
        <identifiers>
          <isin value="US594479EB98"/>
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        <balance>690000.00000000</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>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN ST STRATEGIC FD LTD OBLIG REV</name>
        <lei>N/A</lei>
        <title>MI STRAT FND 1.35% 8/1/2029</title>
        <cusip>594698SP8</cusip>
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          <isin value="US594698SP83"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>0.01350000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN ST STRATEGIC FD LTD OBLIG REV</name>
        <lei>N/A</lei>
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        <cusip>594698SQ6</cusip>
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          <isin value="US594698SQ66"/>
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        <name>MICHIGAN ST STRATEGIC FD LTD OBLIG REV</name>
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        <name>KALAMAZOO MI HFA HOSP FAC REV</name>
        <lei>N/A</lei>
        <title>KALAMAZOO HFA H 5% 5/15/2028 PRE</title>
        <cusip>483233QP0</cusip>
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        <name>KALAMAZOO MI HFA HOSP FAC REV</name>
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        <name>KALAMAZOO MI HFA HOSP FAC REV</name>
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        <name>KALAMAZOO MI HFA HOSP FAC REV</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>PORTAGE MI PUB SCHS</name>
        <lei>N/A</lei>
        <title>PORTAGE MI PUB 4% 11/1/2042</title>
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        <name>GERALD R FORD INTL ARPT AUTH MICH REV</name>
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      <invstOrSec>
        <name>NORTHERN MI UNIV REVS</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>NORTHERN MI UNIV REVS</name>
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      <invstOrSec>
        <name>NORTHERN MI UNIV REVS</name>
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      <invstOrSec>
        <name>NORTHERN MI UNIV REVS</name>
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          <isin value="US665398NJ87"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NORTHERN MI UNIV REVS</name>
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        <title>NO MICH UN REVS 5% 6/1/2036</title>
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          <isin value="US665398NK50"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>NORTHERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>NO MICH UN REVS 4% 6/1/2039</title>
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          <isin value="US665398NN99"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NORTHERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>NO MICH UN REVS 4% 6/1/2040</title>
        <cusip>665398NP4</cusip>
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          <isin value="US665398NP48"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>NORTHERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>NO MICH UN REVS 4% 6/1/2041</title>
        <cusip>665398NQ2</cusip>
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          <isin value="US665398NQ21"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NORTHERN MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>NO MICH UN REVS 4% 6/1/2046</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>MICHIGAN FIN AUTH LTD OBLIG REV</name>
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          <couponKind>Fixed</couponKind>
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        <name>MICHIGAN FIN AUTH LTD OBLIG REV</name>
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          <isin value="US594479HN00"/>
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        <name>MICHIGAN FIN AUTH LTD OBLIG REV</name>
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      <invstOrSec>
        <name>PENNFIELD MICH SCHS DIST</name>
        <lei>N/A</lei>
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        <name>KALAMAZOO CNTY MICH</name>
        <lei>N/A</lei>
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        <name>PUERTO RICO COMWLTH</name>
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          <isin value="US74514L3H80"/>
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          <annualizedRt>0.05625000</annualizedRt>
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        <name>PUERTO RICO COMWLTH</name>
        <lei>N/A</lei>
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        <cusip>74514L3J4</cusip>
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          <isin value="US74514L3J47"/>
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        <balance>1410000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
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          <annualizedRt>0.05750000</annualizedRt>
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          <isin value="US74514L3G08"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PUERTO RICO COMWLTH</name>
        <lei>N/A</lei>
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          <isin value="US74514L3R62"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GUAM POWER AUTH.</name>
        <lei>N/A</lei>
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          <isin value="US400653KK63"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>MICHIGAN FIN AUTH RE</name>
        <lei>N/A</lei>
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          <isin value="US59447T3V38"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV</name>
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        <title>MICHIGAN MT 5% 6/1/2053</title>
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          <isin value="US594654RG20"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV</name>
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        <title>MI SF HSG 22B L=BC V7</title>
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          <isin value="US594654QD08"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05500000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV</name>
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          <isin value="US594654TD70"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03800000</annualizedRt>
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      <invstOrSec>
        <name>HOLLAND MI SCH DIST</name>
        <lei>N/A</lei>
        <title>HOLLAND MICH 4% 11/1/2039</title>
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          <isin value="US435236LM47"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <name>HOLLAND MI SCH DIST</name>
        <lei>N/A</lei>
        <title>HOLLAND MICH 4% 11/1/2040</title>
        <cusip>435236LN2</cusip>
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          <isin value="US435236LN20"/>
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        <balance>1915000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>BYRON CENTER MICH PUB SCHS</name>
        <lei>N/A</lei>
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        <valUSD>3743550.91000000</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>2053-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05250000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN ST STRATEGIC FD LTD OBLIG REV</name>
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        <cusip>594698TD4</cusip>
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          <isin value="US594698TD45"/>
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        <valUSD>6989999.80000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.03875000</annualizedRt>
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        <name>LANSING MICH</name>
        <lei>N/A</lei>
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        <cusip>516372TW9</cusip>
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          <isin value="US516372TW97"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <name>DETROIT MI</name>
        <lei>N/A</lei>
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          <isin value="US2510936E56"/>
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        <name>MICHIGAN ST BLDG AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>594615LJ3</cusip>
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          <isin value="US594615LJ39"/>
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        <issuerCat>MUN</issuerCat>
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          <annualizedRt>0.05000000</annualizedRt>
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        <name>WAYNE ST UNIV MI UNIV REVS</name>
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        <title>WAYNE ST U MI 4% 11/15/2039</title>
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          <isin value="US946303G322"/>
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        <name>WAYNE ST UNIV MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WAYNE ST U MI 4% 11/15/2040</title>
        <cusip>946303G40</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MICHIGAN ST TRUNK LINE FD</name>
        <lei>N/A</lei>
        <title>MI ST TRUNK FD 5% 11/15/2046</title>
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          <isin value="US5946954P04"/>
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        <name>MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV</name>
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        <name>GERALD R FORD INTL ARPT AUTH MICH REV</name>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BERKLEY MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>BERKLEY MI SCD 5% 5/1/2036</title>
        <cusip>084482CZ9</cusip>
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          <isin value="US084482CZ99"/>
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        <curCd>USD</curCd>
        <valUSD>598915.35000000</valUSD>
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        <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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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BERKLEY MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>BERKLEY MI SCD 5% 5/1/2037</title>
        <cusip>084482DA3</cusip>
        <identifiers>
          <isin value="US084482DA30"/>
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        <curCd>USD</curCd>
        <valUSD>1188733.93000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BERKLEY MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>BERKLEY MI SCD 5% 5/1/2038</title>
        <cusip>084482DB1</cusip>
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          <isin value="US084482DB13"/>
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        <balance>575000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>635306.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BERKLEY MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>BERKLEY MI SCD 5% 5/1/2039</title>
        <cusip>084482DC9</cusip>
        <identifiers>
          <isin value="US084482DC95"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>712072.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BERKLEY MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>BERKLEY MI SCD 5% 5/1/2040</title>
        <cusip>084482DD7</cusip>
        <identifiers>
          <isin value="US084482DD78"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>378045.78000000</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>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BERKLEY MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>BERKLEY MI SCD 5% 5/1/2033</title>
        <cusip>084482CW6</cusip>
        <identifiers>
          <isin value="US084482CW68"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>561804.30000000</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>BERKLEY MICH SCH DIST</name>
        <lei>N/A</lei>
        <title>BERKLEY MI SCD 5% 5/1/2041</title>
        <cusip>084482DE5</cusip>
        <identifiers>
          <isin value="US084482DE51"/>
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        <balance>775000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>827461.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>UTICA MI CMNTY SCHS</name>
        <lei>N/A</lei>
        <title>UTICA MI CSD 5% 5/1/2039</title>
        <cusip>9176612L3</cusip>
        <identifiers>
          <isin value="US9176612L36"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1361333.25000000</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>2039-05-01</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>GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV</name>
        <lei>N/A</lei>
        <title>GREAT LAKES WTR 5% 7/1/2036</title>
        <cusip>39081JHH4</cusip>
        <identifiers>
          <isin value="US39081JHH41"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1661462.40000000</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>2036-07-01</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>MICHIGAN ST UNIV REVS</name>
        <lei>N/A</lei>
        <title>MI ST UNIV 5.25% 8/15/54</title>
        <cusip>594712ZH7</cusip>
        <identifiers>
          <isin value="US594712ZH78"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3185525.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05250000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DETROIT MI DOWNTOWN DEV AUTH TAX</name>
        <lei>N/A</lei>
        <title>DETROIT DWNTWN 5% 7/1/2048</title>
        <cusip>251135HU6</cusip>
        <identifiers>
          <isin value="US251135HU61"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1024326.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN ST BLDG AUTH REV</name>
        <lei>N/A</lei>
        <title>MI BLDG 5.25% 4/15/2059</title>
        <cusip>594615MP8</cusip>
        <identifiers>
          <isin value="US594615MP89"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05250000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DETROIT MI</name>
        <lei>N/A</lei>
        <title>DETROIT MI 5% 5/1/2038</title>
        <cusip>2510936U9</cusip>
        <identifiers>
          <isin value="US2510936U98"/>
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        <balance>3520000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3733142.69000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DETROIT MI</name>
        <lei>N/A</lei>
        <title>DETROIT MI 5% 5/1/2039</title>
        <cusip>2510936V7</cusip>
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          <isin value="US2510936V71"/>
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        <balance>3700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3902111.76000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MATTAWAN CONSOLIDATED SCHOOL DISTRICT/MI</name>
        <lei>N/A</lei>
        <title>MATTAWAN CONSOL 5% 5/1/2054</title>
        <cusip>577056MR2</cusip>
        <identifiers>
          <isin value="US577056MR21"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1037863.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2054-05-01</maturityDt>
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      <invstOrSec>
        <name>WAYNE ST UNIV MI UNIV REVS</name>
        <lei>N/A</lei>
        <title>WAYNE ST U MI 5% 11/15/2035</title>
        <cusip>946303J47</cusip>
        <identifiers>
          <isin value="US946303J474"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1113452.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <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 5% 11/15/2036</title>
        <cusip>946303J54</cusip>
        <identifiers>
          <isin value="US946303J540"/>
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        <balance>1200000.00000000</balance>
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        <valUSD>1328429.76000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-15</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>COUNTY OF GENESEE MI WATER SUPPLY SYSTEM REVENUE</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>COUNTY OF GENESEE MI WATER SUPPLY SYSTEM REVENUE</name>
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          <isin value="US371646AP55"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KAREGNONDI WTR AUTH MICH</name>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH RE</name>
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          <isin value="US59447T8A46"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MICHIGAN ST HOSP FIN AUTH REV</name>
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          <isin value="US59465HWM41"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MICHIGAN ST HOSP FIN AUTH REV</name>
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        <cusip>59465HWP7</cusip>
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          <isin value="US59465HWP71"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FERRIS ST UNIV MICH REV</name>
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          <isin value="US315361MV46"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FERRIS ST UNIV MICH REV</name>
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          <isin value="US315361MW29"/>
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        <fairValLevel>2</fairValLevel>
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        <name>FERRIS ST UNIV MICH REV</name>
        <lei>N/A</lei>
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          <isin value="US315361MX02"/>
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        <fairValLevel>2</fairValLevel>
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        <name>FERRIS ST UNIV MICH REV</name>
        <lei>N/A</lei>
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        <cusip>315361MY8</cusip>
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          <isin value="US315361MY84"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LANSE CREUSE MICH PUB SCH</name>
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          <isin value="US516228TM53"/>
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      <invstOrSec>
        <name>BERKLEY MICH SCH DIST</name>
        <lei>N/A</lei>
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        <name>BERKLEY MICH SCH DIST</name>
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          <isin value="US084482DQ81"/>
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        <name>BERKLEY MICH SCH DIST</name>
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        <name>BERKLEY MICH SCH DIST</name>
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        <name>BERKLEY MICH SCH DIST</name>
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      <invstOrSec>
        <name>WOODHAVEN BROWNSTOWN MI SD</name>
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      <invstOrSec>
        <name>TRAVERSE CITY MICH AREA PUB SCHS</name>
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        <title>TRAVERSE CITY M 5% 5/1/2029</title>
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        <pctVal>0.469152474305</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>TRAVERSE CITY MICH AREA PUB SCHS</name>
        <lei>N/A</lei>
        <title>TRAVERSE CITY M 5% 5/1/2032</title>
        <cusip>894282SZ6</cusip>
        <identifiers>
          <isin value="US894282SZ61"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2225939.20000000</valUSD>
        <pctVal>0.484263249211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</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>FOREST HILLS MI PUB SCHS</name>
        <lei>N/A</lei>
        <title>FOREST HILLS MI 5% 5/1/2045</title>
        <cusip>345748F36</cusip>
        <identifiers>
          <isin value="US345748F368"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3174820.80000000</valUSD>
        <pctVal>0.690696779261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-01</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>WARREN MI CSD</name>
        <lei>N/A</lei>
        <title>WARREN MI CSD 5% 5/1/2036</title>
        <cusip>935341S65</cusip>
        <identifiers>
          <isin value="US935341S650"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>554528.35000000</valUSD>
        <pctVal>0.120640177661</pctVal>
        <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>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WARREN MI CSD</name>
        <lei>N/A</lei>
        <title>WARREN MI CSD 5% 5/1/2037</title>
        <cusip>935341S73</cusip>
        <identifiers>
          <isin value="US935341S734"/>
        </identifiers>
        <balance>3105000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3407913.86000000</valUSD>
        <pctVal>0.741407240088</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-01</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>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="As of March 2025, monthly returns presented in Item B.5.a. have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-04-30</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>
  <documents>XXXX</documents>
</edgarSubmission>
