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        <name>BERTHOUD COLO</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>BNC MET DIST NO 1 COLO</name>
        <lei>N/A</lei>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SOUTHSHORE MET DIST NO 2 COLO</name>
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          <isin value="US84467PAE43"/>
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        <issuerCat>MUN</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PARK CREEK MET DIST COLO</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US700385AS65"/>
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        <curCd>USD</curCd>
        <valUSD>546600.85000000</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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          <couponKind>Fixed</couponKind>
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        <name>COLORADO HSG &amp; FIN AUTH</name>
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        <cusip>1964805D5</cusip>
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          <isin value="US1964805D55"/>
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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>COLORADO EDL &amp; CULTURAL FACS AUTH</name>
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        <valUSD>1001722.80000000</valUSD>
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        <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>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>COLORADO SCH MINES</name>
        <lei>N/A</lei>
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        <cusip>196567CR0</cusip>
        <identifiers>
          <isin value="US196567CR08"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>GRAND JUNCTION COLO</name>
        <lei>N/A</lei>
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        <cusip>385799BC4</cusip>
        <identifiers>
          <isin value="US385799BC47"/>
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        <balance>480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>538986.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>COLORADO HEALTH FACS AUTH</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <cusip>19648A7J8</cusip>
        <identifiers>
          <isin value="US19648A7J81"/>
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        <valUSD>752832.71000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>DENVER COLO HEALTH &amp; HOSP AUTH</name>
        <lei>549300WFV5S7GIR4OS67</lei>
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        <cusip>24918TAL1</cusip>
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        <curCd>USD</curCd>
        <valUSD>366766.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>DENVER COLO CITY &amp; CNTY</name>
        <lei>MMTY7HA2MSCBUO4F7J71</lei>
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        <issuerCat>MUN</issuerCat>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>GRAND JCT COLO ARPT AUTH</name>
        <lei>N/A</lei>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>COLORADO HSG &amp; FIN AUTH</name>
        <lei>5493005GIROYQAWBMC18</lei>
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        <cusip>1964805E3</cusip>
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          <isin value="US1964805E39"/>
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        <name>COLORADO HSG &amp; FIN AUTH</name>
        <lei>5493005GIROYQAWBMC18</lei>
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        <name>BASALT &amp; RURAL FIRE PROTN DIST COLO</name>
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          <couponKind>Fixed</couponKind>
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        <name>DENVER COLO HEALTH &amp; HOSP AUTH</name>
        <lei>549300WFV5S7GIR4OS67</lei>
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        <cusip>24918TAN7</cusip>
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          <isin value="US24918TAN72"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>EAGLE CNTY COLO SCH DIST</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <name>BRADBURN MET DIST NO 2 COLO</name>
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        <name>RAINDANCE MET DIST NO 2 COLO</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>COLORADO EDL &amp; CULTURAL FACS AUTH</name>
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        <name>GRAND JUNCTION COLO</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <name>RANGE VIEW LIBR DIST COLO</name>
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        <issuerCat>MUN</issuerCat>
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        <name>DENVER COLO CITY &amp; CNTY</name>
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        <name>EAGLE CNTY COLO SCH DIST</name>
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        <name>COLORADO EDL &amp; CULTURAL FACS AUTH</name>
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        <name>PARK CREEK MET DIST COLO</name>
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        <name>JOHNSTOWN COLO</name>
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        <name>COLORADO HSG &amp; FIN AUTH</name>
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        <name>ERIE COMMONS MET DIST NO 2 COLO</name>
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        <assetCat>DBT</assetCat>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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>COLORADO HSG &amp; FIN AUTH</name>
        <lei>5493005GIROYQAWBMC18</lei>
        <title>Colorado State Housing and Financial Authority 2.0750%, Due 11/01/2024</title>
        <cusip>196480FP7</cusip>
        <identifiers>
          <isin value="US196480FP76"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>249405.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.07500000</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>PARK CREEK MET DIST COLO</name>
        <lei>N/A</lei>
        <title>PARK CREEK MET DIST COLO LTD PPTY 5%, Due 12/01/2039</title>
        <cusip>700385AQ0</cusip>
        <identifiers>
          <isin value="US700385AQ00"/>
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        <balance>730000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>805321.77000000</valUSD>
        <pctVal>0.241516590918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>FLATIRON MEADOWS MET DIST COLO</name>
        <lei>N/A</lei>
        <title>Flatiron Meadows Metropolitan District 4%. DUE 12/1/2046</title>
        <cusip>33884ABF5</cusip>
        <identifiers>
          <isin value="US33884ABF57"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1974743.40000000</valUSD>
        <pctVal>0.592226997548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>COLORADO HEALTH FACS AUTH</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>COLORADO HEALTH FACS 4.000%, Due 05/15/2041</title>
        <cusip>19648FTD6</cusip>
        <identifiers>
          <isin value="US19648FTD68"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>475327.05000000</valUSD>
        <pctVal>0.142550931769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>GUNNISON WATERSHED COLO SCH DIST NO RE-1J</name>
        <lei>N/A</lei>
        <title>General Obligation UNLTD Gunnison Watershed</title>
        <cusip>402892EP4</cusip>
        <identifiers>
          <isin value="US402892EP48"/>
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        <balance>6500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7099018.55000000</valUSD>
        <pctVal>2.129000882548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>RAINDANCE MET DIST NO 2 COLO</name>
        <lei>N/A</lei>
        <title>Raindance Metropolitan District No 2 4%. DUE 10/1/2054</title>
        <cusip>75087FAS3</cusip>
        <identifiers>
          <isin value="US75087FAS39"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>974445.40000000</valUSD>
        <pctVal>0.292236891900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>ERIE FARM MET DIST COLO</name>
        <lei>N/A</lei>
        <title>ERIE FARM MET DIST COLO GO LTD TAX REF 4.000%, Due 06/01/2051</title>
        <cusip>295244AV9</cusip>
        <identifiers>
          <isin value="US295244AV96"/>
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        <balance>1100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1040926.26000000</valUSD>
        <pctVal>0.312174550693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>
        <name>MESA CNTY COLO SCH DIST NO 50</name>
        <lei>N/A</lei>
        <title>Mesa County School District No 50 5.5%, Due 12/01/2049</title>
        <cusip>59064YCG7</cusip>
        <identifiers>
          <isin value="US59064YCG70"/>
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        <balance>2300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2599181.70000000</valUSD>
        <pctVal>0.779496502823</pctVal>
        <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>5.50000000</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>
        <name>CRESTED BUTTE COLO FIRE PROTN DIST</name>
        <lei>N/A</lei>
        <title>CRESTED BUTTE COLO 5.000% Due 12/01/2046</title>
        <cusip>22611JBH5</cusip>
        <identifiers>
          <isin value="US22611JBH59"/>
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        <balance>5770000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6297001.22000000</valUSD>
        <pctVal>1.888475295614</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>
        <name>NORTH PINE VISTAS MET DIST NO 2 COLO</name>
        <lei>N/A</lei>
        <title>NORTH PINE VISTAS MET DIST NO 2 COLO 5.25%, Due 12/1/2042</title>
        <cusip>661557AN8</cusip>
        <identifiers>
          <isin value="US661557AN82"/>
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        <balance>625000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>692497.63000000</valUSD>
        <pctVal>0.207680548381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PRAIRIE CTR MET DIST NO 7 COLO</name>
        <lei>N/A</lei>
        <title>PRAIRIE CTR MET DIST NO 7 COLO GO LTD TAX 4.1250%, Due 12/15/2036</title>
        <cusip>739491AA6</cusip>
        <identifiers>
          <isin value="US739491AA64"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>464844.80000000</valUSD>
        <pctVal>0.139407297287</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AURORA COLO</name>
        <lei>N/A</lei>
        <title>City of Aurora Colorado 5%, due 12/1/2035</title>
        <cusip>051556HY7</cusip>
        <identifiers>
          <isin value="US051556HY79"/>
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        <balance>615000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>643151.01000000</valUSD>
        <pctVal>0.192881460762</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>DENVER COLO HEALTH &amp; HOSP AUTH</name>
        <lei>549300WFV5S7GIR4OS67</lei>
        <title>Denver Health &amp; Hospital Authority 5%, due 12/1/2033</title>
        <cusip>24918TAP2</cusip>
        <identifiers>
          <isin value="US24918TAP21"/>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>249784.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COLORADO HSG &amp; FIN AUTH</name>
        <lei>5493005GIROYQAWBMC18</lei>
        <title>Colorado Housing and Finance Authority 4.887%, Due 11/1/2025</title>
        <cusip>1964805F0</cusip>
        <identifiers>
          <isin value="US1964805F04"/>
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        <balance>2340000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2354087.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.88700000</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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        <name>COLORADO EDL &amp; CULTURAL FACS AUTH</name>
        <lei>549300BJRX2FHSSZP042</lei>
        <title>Colorado Educational &amp; Cultural Facilities Auth. Authorized Revenue</title>
        <cusip>19645RYD7</cusip>
        <identifiers>
          <isin value="US19645RYD78"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1502849.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLORADO EDL &amp; CULTURAL FACS AUTH</name>
        <lei>549300BJRX2FHSSZP042</lei>
        <title>Colorado Educational &amp; Cultural Facilities Auth. Authorized Revenue</title>
        <cusip>19645RXL0</cusip>
        <identifiers>
          <isin value="US19645RXL04"/>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>435434.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>
        <name>BOULDER COLO</name>
        <lei>549300XPX2TFRF3HOE79</lei>
        <title>Boulder Colorado Cops 2.250%, Due 11/01/2024</title>
        <cusip>101427CA8</cusip>
        <identifiers>
          <isin value="US101427CA80"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499101.10000000</valUSD>
        <pctVal>0.149680786843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
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      <invstOrSec>
        <name>GREAT WESTN MET DIST COLO NO</name>
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      <invstOrSec>
        <name>FOSSIL RIDGE MET DIST NO 3 COLO</name>
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        <name>COLORADO HEALTH FACS AUTH</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <name>COLORADO HSG &amp; FIN AUTH</name>
        <lei>5493005GIROYQAWBMC18</lei>
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        <name>UNIVERSITY COLO</name>
        <lei>549300V9VTO8HF8HW723</lei>
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          <isin value="US91417K4W87"/>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>CASTLE OAKS MET DIST NO 3 COLO</name>
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        <identifiers>
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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>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>GUNNISON CNTY COLO</name>
        <lei>N/A</lei>
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        <cusip>402882CJ1</cusip>
        <identifiers>
          <isin value="US402882CJ16"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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          <couponKind>Fixed</couponKind>
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        <name>CENTENNIAL WTR &amp; SANTN DIST COLO</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>COLORADO HSG &amp; FIN AUTH</name>
        <lei>5493005GIROYQAWBMC18</lei>
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        <cusip>1964802V8</cusip>
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        <name>COLORADO HEALTH FACS AUTH</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <name>PARK CREEK MET DIST COLO</name>
        <lei>N/A</lei>
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        <name>WHISPERING PINES MET DIST NO 1 COLO</name>
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        <name>COLORADO ST BRD CMNTY COLLEGES &amp; OCCUPATIONAL ED</name>
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        <name>JOHNSTOWN COLO</name>
        <lei>N/A</lei>
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        <name>CHERRY CREEK CORPORATE CTR MET DIST COLO</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DENVER COLO CITY &amp; CNTY SCH DIST NO 1</name>
        <lei>N/A</lei>
        <title>Denver City and County Colorado School District #1 Cops</title>
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        <identifiers>
          <isin value="US24919PNB66"/>
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        <balance>1860000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2016288.17000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLORADO SCH MINES</name>
        <lei>N/A</lei>
        <title>COLORADO SCH MINES INSTL ENTERPRISE REV 4.8%, Due 12/1/2027</title>
        <cusip>19658QGF8</cusip>
        <identifiers>
          <isin value="US19658QGF81"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2047297.60000000</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>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>TODD CREEK VLG MET DIST COLO</name>
        <lei>N/A</lei>
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        <cusip>88901MAU0</cusip>
        <identifiers>
          <isin value="US88901MAU09"/>
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        <balance>810000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>810164.19000000</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>2038-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>COLORADO SCH MINES</name>
        <lei>N/A</lei>
        <title>COLORADO SCH MINES INSTL ENTERPRISE REV 5.25%, Due 12/1/2052</title>
        <cusip>19658QGE1</cusip>
        <identifiers>
          <isin value="US19658QGE17"/>
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        <balance>6835000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7539232.61000000</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>2052-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLORADO HEALTH FACS AUTH</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority 5%, due 5/15/2030</title>
        <cusip>19648A5D3</cusip>
        <identifiers>
          <isin value="US19648A5D30"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>505438.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>PLATTEVILLE-GILCREST FIRE PROTN DIST</name>
        <lei>N/A</lei>
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        <cusip>727866AQ8</cusip>
        <identifiers>
          <isin value="US727866AQ84"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>188236.69000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COLORADO ST HIGHER ED CAP CONSTR LEASE PUR FING PROG</name>
        <lei>N/A</lei>
        <title>CO ST HIGHER ED CAP CONSTR LEASE PUR FING 5.0%, Due 11/1/2024</title>
        <cusip>196734CB1</cusip>
        <identifiers>
          <isin value="US196734CB12"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55071.90000000</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>2024-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COLORADO HSG &amp; FIN AUTH</name>
        <lei>5493005GIROYQAWBMC18</lei>
        <title>COLORADO HSG &amp; FIN AUTH SINGLE FAMILY MTG 5.75%, Due 11/1/2053</title>
        <cusip>19648GAV4</cusip>
        <identifiers>
          <isin value="US19648GAV41"/>
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        <balance>7895000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8538191.44000000</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>2053-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GARFIELD CNTY COLO SCH DIST NO RE-2 GARFIELD</name>
        <lei>N/A</lei>
        <title>Garfield County School District No. RE2 3.050%, DUE 12/01/2026</title>
        <cusip>365653ND2</cusip>
        <identifiers>
          <isin value="US365653ND23"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>491484.80000000</valUSD>
        <pctVal>0.147396652873</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.05000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>COLORADO HEALTH FACS AUTH</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>COLORADO HEALTH FACS AUTH REV HOSP 5% Due 1/15/2035</title>
        <cusip>19648A4M4</cusip>
        <identifiers>
          <isin value="US19648A4M48"/>
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        <balance>1630000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1665303.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>RAINDANCE MET DIST NO 2 COLO</name>
        <lei>N/A</lei>
        <title>Raindance Metropolitan District No 2 5%, DUE 12/1/2039</title>
        <cusip>75087FAP9</cusip>
        <identifiers>
          <isin value="US75087FAP99"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1093503.60000000</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>2039-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>PARK CREEK MET DIST COLO</name>
        <lei>N/A</lei>
        <title>PARK CREEK MET DIST COLO LTD PPTY TAX 5%, Due 12/01/2043</title>
        <cusip>700385BK2</cusip>
        <identifiers>
          <isin value="US700385BK21"/>
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        <balance>1320000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1431401.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>PRAIRIE CTR MET DIST NO 7 COLO</name>
        <lei>N/A</lei>
        <title>PRAIRIE CTR MET DIST NO 7 COLO GO LTD TAX 4.8750%, Due 12/15/2044</title>
        <cusip>739491AB4</cusip>
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          <isin value="US739491AB48"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <name>RAMPART RANGE MET DIST NO 1 COLO</name>
        <lei>549300YG458KQEHMQF33</lei>
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        <cusip>75157TAA7</cusip>
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          <isin value="US75157TAA79"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>TIMNATH RANCH MET DIST NO 4 COLO</name>
        <lei>N/A</lei>
        <title>TIMNATH RANCH MET DIST NO 4 COLO GO LTD TAX 5%, Due 12/1/2039</title>
        <cusip>887431AR5</cusip>
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          <isin value="US887431AR57"/>
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        <invCountry>US</invCountry>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>BASALT &amp; RURAL FIRE PROTN DIST COLO</name>
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        <cusip>069745CL9</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>GOLD HILL MESA MET DIST NO 2 COLO</name>
        <lei>N/A</lei>
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        <cusip>38060PAC5</cusip>
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        <balance>215000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>215347.46000000</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>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>COLORADO HSG &amp; FIN AUTH</name>
        <lei>5493005GIROYQAWBMC18</lei>
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        <name>PARK CREEK MET DIST COLO</name>
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        <name>JOHNSTOWN COLO</name>
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        <name>HOGBACK MET DIST COLO</name>
        <lei>N/A</lei>
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        <name>GRAND JUNCTION COLO</name>
        <lei>N/A</lei>
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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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        <name>MOFFAT CNTY COLO</name>
        <lei>N/A</lei>
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          <couponKind>Fixed</couponKind>
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        <name>TELLURIDE COLO</name>
        <lei>N/A</lei>
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        <name>PARK CREEK MET DIST COLO</name>
        <lei>N/A</lei>
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        <name>COLORADO HEALTH FACS AUTH</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <name>PARK CREEK MET DIST COLO</name>
        <lei>N/A</lei>
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        <name>DENVER COLO URBAN RENEWAL AUTH</name>
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        <name>STERLING RANCH CMNTY AUTH BRD COLO</name>
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        <name>COLORADO EDL &amp; CULTURAL FACS AUTH</name>
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        <name>FREMONT CUSTER &amp; EL PASO CNTYS COLO SCH DIST NO RE-2 FREMONT</name>
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      <invstOrSec>
        <name>CRESTED BUTTE COLO</name>
        <lei>N/A</lei>
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        <cusip>22611CAR9</cusip>
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          <isin value="US22611CAR97"/>
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        <curCd>USD</curCd>
        <valUSD>1101506.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>COLORADO EDL &amp; CULTURAL FACS AUTH</name>
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        <valUSD>1163536.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>ESTES PARK COLO</name>
        <lei>N/A</lei>
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        <cusip>29747TAY9</cusip>
        <identifiers>
          <isin value="US29747TAY91"/>
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        <valUSD>422887.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.64600000</annualizedRt>
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      <invstOrSec>
        <name>MESA CNTY COLO SCH DIST NO 50</name>
        <lei>N/A</lei>
        <title>Mesa County School District No 50 5%, Due 12/01/2037</title>
        <cusip>59064YBZ6</cusip>
        <identifiers>
          <isin value="US59064YBZ60"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>338255.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>PARK CREEK MET DIST COLO</name>
        <lei>N/A</lei>
        <title>Park Creek Metropolitan District 3.800%, Due 12/01/2024</title>
        <cusip>700387GE7</cusip>
        <identifiers>
          <isin value="US700387GE71"/>
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        <balance>440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>439268.59000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>COLLIERS HILL MET DIST NO 2 COLO</name>
        <lei>N/A</lei>
        <title>COLLIERS HILL MET 6.000% Due 12/15/2047</title>
        <cusip>194689AS4</cusip>
        <identifiers>
          <isin value="US194689AS49"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2005526.60000000</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>2047-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LONGS PEAK MET DIST COLO</name>
        <lei>N/A</lei>
        <title>LONGS PEAK MET DIST 5.25%, Due 12/01/2051</title>
        <cusip>54316AAA1</cusip>
        <identifiers>
          <isin value="US54316AAA16"/>
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        <balance>6500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6554454.40000000</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>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.08600000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FLATIRON MEADOWS MET DIST COLO</name>
        <lei>N/A</lei>
        <title>Flatiron Meadows Metropolitan District 5%, DUE 12/1/2039</title>
        <cusip>33884ABE8</cusip>
        <identifiers>
          <isin value="US33884ABE82"/>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>409444.43000000</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>2039-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SILVERTHORNE COLO</name>
        <lei>N/A</lei>
        <title>Town of Silverthorne CO 5%, Due 12/1/2044</title>
        <cusip>82845JAR6</cusip>
        <identifiers>
          <isin value="US82845JAR68"/>
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        <balance>1650000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1815345.51000000</valUSD>
        <pctVal>0.544423453143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ERIE FARM MET DIST COLO</name>
        <lei>N/A</lei>
        <title>ERIE FARM MET DIST COLO GO LTD TAX REF 5.000%, Due 12/01/2041</title>
        <cusip>295244AT4</cusip>
        <identifiers>
          <isin value="US295244AT41"/>
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        <balance>570000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>622311.12000000</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>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>PARK CREEK MET DIST COLO</name>
        <lei>N/A</lei>
        <title>Park Creek Metropolitan District 3.3%, due 12/1/2024</title>
        <cusip>700387FB4</cusip>
        <identifiers>
          <isin value="US700387FB42"/>
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        <balance>425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>423559.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>COLORADO HEALTH FACS AUTH</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>COLORADO HEALTH FACS AUTH REV HOSP 4%, Due 10/1/35</title>
        <cusip>19648FRP1</cusip>
        <identifiers>
          <isin value="US19648FRP17"/>
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        <balance>335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>340836.91000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>COLORADO EDL &amp; CULTURAL FACS AUTH</name>
        <lei>549300BJRX2FHSSZP042</lei>
        <title>Colorado Educational &amp; Cultural Facilities Auth. Authorized Revenue</title>
        <cusip>19645RC66</cusip>
        <identifiers>
          <isin value="US19645RC662"/>
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        <curCd>USD</curCd>
        <valUSD>10006.69000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <name>CENTENNIAL WTR &amp; SANTN DIST COLO</name>
        <lei>N/A</lei>
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        <cusip>15141GBF8</cusip>
        <identifiers>
          <isin value="US15141GBF81"/>
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        <balance>3250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3628235.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>MAIKER HSG PARTNERS COLO</name>
        <lei>N/A</lei>
        <title>MAIKER HSG PARTNERS COLO MULTIFAMILY HSG 4.5%, Due 5/1/2042</title>
        <cusip>56031AAA0</cusip>
        <identifiers>
          <isin value="US56031AAA07"/>
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        <curCd>USD</curCd>
        <valUSD>6006620.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORTH PINE VISTAS MET DIST NO 2 COLO</name>
        <lei>N/A</lei>
        <title>NORTH PINE VISTAS MET DIST NO 2 COLO 5%, Due 12/1/2052</title>
        <cusip>661557AP3</cusip>
        <identifiers>
          <isin value="US661557AP31"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1062473.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COLORADO HEALTH FACS AUTH</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>COLORADO HEALTH FACS AUTH VAR Due 5/15/2062</title>
        <cusip>19648FVP6</cusip>
        <identifiers>
          <isin value="US19648FVP60"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1500000.00000000</valUSD>
        <pctVal>0.449851102843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.15000096</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GRAND JUNCTION COLO</name>
        <lei>N/A</lei>
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        <name>GOLD HILL MESA MET DIST NO 2 COLO</name>
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        <name>COLORADO SPRINGS COLO</name>
        <lei>2549003N3PXBHQH2V448</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>COLORADO HSG &amp; FIN AUTH</name>
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        <cusip>1964805G8</cusip>
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        <name>BASALT &amp; RURAL FIRE PROTN DIST COLO</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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        <name>COLORADO EDL &amp; CULTURAL FACS AUTH</name>
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        <cusip>19645RZP9</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>COLORADO SPRINGS COLO SCH DIST NO 11</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>COLORADO EDL &amp; CULTURAL FACS AUTH</name>
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        <name>COLORADO SPRINGS COLO</name>
        <lei>2549003N3PXBHQH2V448</lei>
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        <name>COLORADO SCH MINES</name>
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        <name>SOUTHGLENN MET DIST COLO</name>
        <lei>549300ETN4YRI5O2PU39</lei>
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        <name>LONE TREE COLO</name>
        <lei>N/A</lei>
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        <name>FRASER VY MET RECREATIONAL DIST COLO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TODD CREEK VLG MET DIST COLO</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>GRAND JUNCTION COLO</name>
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        <name>COLORADO SPRINGS COLO</name>
        <lei>2549003N3PXBHQH2V448</lei>
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        <name>PARK CREEK MET DIST COLO</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>BASALT &amp; RURAL FIRE PROTN DIST COLO</name>
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        <name>CORNERSTAR MET DIST COLO</name>
        <lei>549300E33QX68QTOF873</lei>
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        <invCountry>US</invCountry>

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        <name>COLORADO HEALTH FACS AUTH</name>
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        <name>TODD CREEK VLG MET DIST COLO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MOFFAT CNTY COLO</name>
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        <name>BASALT &amp; RURAL FIRE PROTN DIST COLO</name>
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        <name>PARK CREEK MET DIST COLO</name>
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        <name>PARK CNTY COLO SCH DIST NO 1 PLATTE CANYON</name>
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        <name>HYLAND HILLS PK &amp; REC DIST COLO</name>
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        <name>SBC MET DIST COLO</name>
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      <invstOrSec>
        <name>SUPERIOR OPEN SPACE SALES &amp; USE TAX COLO</name>
        <lei>N/A</lei>
        <title>Superior Open Space Sales &amp; US 5.0%, Due 06/01/2040</title>
        <cusip>868280BC1</cusip>
        <identifiers>
          <isin value="US868280BC14"/>
        </identifiers>
        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>757248.45000000</valUSD>
        <pctVal>0.227099366905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>COLORADO SPRINGS COLO</name>
        <lei>2549003N3PXBHQH2V448</lei>
        <title>City of Colorado Springs CO Utilities 1.25% due 11/01/2037</title>
        <cusip>196632BK8</cusip>
        <identifiers>
          <isin value="US196632BK80"/>
        </identifiers>
        <balance>8000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8000000.00000000</valUSD>
        <pctVal>2.399205881830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.04999920</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2024-10-23</ncom:dateSigned>
      <ncom:nameOfApplicant>SBH Colorado Tax Free Fund</ncom:nameOfApplicant>
      <ncom:signature>Jeff S. Romie</ncom:signature>
      <ncom:signerName>Jeff S. Romie</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
