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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <isin value="US6461366M81"/>
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          <annualizedRt>5.00000000</annualizedRt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>University of West Alabama</name>
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          <isin value="US915235EM30"/>
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        <balance>500000.00000000</balance>
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        <valUSD>585780.00000000</valUSD>
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          <maturityDt>2038-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Birmingham-Jefferson Civic Center Authority</name>
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          <maturityDt>2043-07-01</maturityDt>
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        <name>Opelika Utilities Board</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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          <maturityDt>2031-07-01</maturityDt>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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        <name>University of West Alabama</name>
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        <name>University of West Alabama</name>
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          <isin value="US40065FBR47"/>
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        <curCd>USD</curCd>
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        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
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          <isin value="US6461367L99"/>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>City of Chicago IL</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
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          <isin value="US167486WN56"/>
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        <curCd>USD</curCd>
        <valUSD>60715.05000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>State of Alabama Docks Department</name>
        <lei>N/A</lei>
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          <isin value="US010604CH73"/>
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        <curCd>USD</curCd>
        <valUSD>1209280.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Iowa Student Loan Liquidity Corp.</name>
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        <title>Iowa Student Loan Liquidity Corp.</title>
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          <isin value="US462590MS69"/>
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        <curCd>USD</curCd>
        <valUSD>35816.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
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          <isin value="US74529JQD09"/>
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        <balance>4000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3397.04000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526QK505"/>
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        <curCd>USD</curCd>
        <valUSD>4056.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-01</maturityDt>
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          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
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          <isin value="US6461367M72"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>42275.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Mobile AL</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>318867.50000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2039-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <isin value="US6461367J44"/>
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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>106240.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2045-06-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Birmingham-Jefferson Civic Center Authority</name>
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        <name>Montgomery County Housing Opportunities Commission</name>
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          <maturityDt>2049-07-01</maturityDt>
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        <name>Michigan Finance Authority</name>
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          <maturityDt>2037-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Tuscaloosa City Board of Education</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <invCountry>PR</invCountry>

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          <maturityDt>2025-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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          <maturityDt>2023-07-01</maturityDt>
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        <name>Auburn University</name>
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      <invstOrSec>
        <name>Homewood Educational Building Authority</name>
        <lei>N/A</lei>
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          <isin value="US437887FZ06"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Puerto Rico Highway &amp; Transportation Authority</name>
        <lei>549300J6QBXVWJXB7Y41</lei>
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          <isin value="US745190E792"/>
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        <curCd>USD</curCd>
        <valUSD>369765.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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      <invstOrSec>
        <name>Colorado Health Facilities Authority</name>
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          <isin value="US19648FKA11"/>
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          <maturityDt>2044-08-01</maturityDt>
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      <invstOrSec>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Mobile AL</name>
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          <isin value="US607341AG93"/>
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        <curCd>USD</curCd>
        <valUSD>513460.00000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2045-11-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Infrastructure Financing Authority</name>
        <lei>549300G1ONPUNRBJUC88</lei>
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          <isin value="US745220FP34"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>Commonwealth of Puerto Rico</name>
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          <isin value="US74514LVU87"/>
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        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2031-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526QN574"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>University of South Alabama</name>
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          <isin value="US914845RV62"/>
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          <maturityDt>2049-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
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          <isin value="US745190UQ97"/>
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        <name>Connecticut Housing Finance Authority</name>
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        <name>Birmingham Airport Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>State of Alabama</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <name>Muscle Shoals Sheffield &amp; Tuscumbia Solid Waste Disposal Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Elmore County Board of Education</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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          <isin value="US74526QJ457"/>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Prichard Water Works &amp; Sewer Board</name>
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          <isin value="US741530JB63"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Buckeye Tobacco Settlement Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US118217CS54"/>
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        <curCd>USD</curCd>
        <valUSD>72523.55000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Lauderdale County Agriculture Center Authority</name>
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          <isin value="US518481AP18"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Illinois</name>
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          <isin value="US452152C666"/>
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        <curCd>USD</curCd>
        <valUSD>482685.50000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2021-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526QQ544"/>
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        <curCd>USD</curCd>
        <valUSD>44550.00000000</valUSD>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tuscaloosa County Industrial Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US90068FAZ99"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
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          <isin value="US74529JQB43"/>
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        <balance>1000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526QZJ48"/>
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        <invCountry>PR</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-01</maturityDt>
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          <annualizedRt>3.65000000</annualizedRt>
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        <name>Jacksonville Public Educational Building Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Maryland Community Development Administration</name>
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          <maturityDt>2049-09-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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        <name>Auburn University</name>
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          <isin value="US050589PV67"/>
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          <maturityDt>2048-06-01</maturityDt>
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        <name>Montevallo American Village Public Educational Building Authority</name>
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          <maturityDt>2035-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Port Beaumont Navigation District</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Scottsboro Waterworks Sewer &amp; Gas Board</name>
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        <name>Alabama Federal Aid Highway Finance Authority</name>
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          <maturityDt>2035-09-01</maturityDt>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>Auburn Water Works Board</name>
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        <name>UAB Medicine Finance Authority</name>
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        <name>Puerto Rico Infrastructure Financing Authority</name>
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          <maturityDt>2035-07-01</maturityDt>
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        <name>Puerto Rico Electric Power Authority</name>
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          <maturityDt>2023-07-01</maturityDt>
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        <name>Michigan Finance Authority</name>
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          <maturityDt>2032-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Vestavia Hills AL</name>
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          <maturityDt>2038-08-01</maturityDt>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <invCountry>PR</invCountry>

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        <name>Guam Government Waterworks Authority</name>
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        <invCountry>GU</invCountry>

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          <maturityDt>2050-01-01</maturityDt>
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        <name>Golden State Tobacco Securitization Corp.</name>
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        <name>Central Plains Energy Project</name>
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        <name>Spartanburg Regional Health Services District</name>
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        <name>Minnesota Office of Higher Education</name>
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        <name>Cullman Utilities Board Water Division</name>
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        <name>Anniston Public Building Authority</name>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
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        <name>University of Alabama (The)</name>
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        <name>UAB Medicine Finance Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <invCountry>PR</invCountry>

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          <maturityDt>2032-07-01</maturityDt>
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        <name>University of South Alabama</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <lei>5493003BRB67HF8ST418</lei>
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          <isin value="US74526QL917"/>
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        <curCd>USD</curCd>
        <valUSD>92862.50000000</valUSD>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-07-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
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          <isin value="US74529JQG30"/>
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        <curCd>USD</curCd>
        <valUSD>568349.43000000</valUSD>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Montevallo American Village Public Educational Building Authority</name>
        <lei>N/A</lei>
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          <isin value="US612685EB98"/>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>485923.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
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          <isin value="US74529JRH04"/>
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        <balance>164000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>177716.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.32900000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Guam Government Waterworks Authority</name>
        <lei>N/A</lei>
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        <cusip>40065FCH5</cusip>
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          <isin value="US40065FCH55"/>
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        <balance>120000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Troy University</name>
        <lei>N/A</lei>
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          <isin value="US897745BR56"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>584520.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>New York State Dormitory Authority</name>
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          <isin value="US64990FYS72"/>
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        <balance>490000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>520512.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
        <lei>549300J6QBXVWJXB7Y41</lei>
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          <isin value="US745190ZN12"/>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>263884.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>Puerto Rico Electric Power Authority</title>
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          <isin value="US74526QV338"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24225.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>City of Trussville AL</name>
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          <isin value="US898242MA74"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>870930.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Huntsville Public Building Authority</name>
        <lei>N/A</lei>
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          <isin value="US447154DZ52"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp. Sales Tax</title>
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          <isin value="US74529JPX71"/>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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          <isin value="US74526QR203"/>
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        <name>N/A</name>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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          <isin value="US74526QU595"/>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Scottsboro Waterworks Sewer &amp; Gas Board</name>
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        <name>Michigan Finance Authority</name>
        <lei>54930022O46HOX5J1D14</lei>
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          <isin value="US59447PH204"/>
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        <name>Puerto Rico Convention Center District Authority</name>
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        <name>Dallas-Fort Worth International Airport</name>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bessemer Public Educational Building Authority</name>
        <lei>N/A</lei>
        <title>Bessemer Public Educational Building Authority</title>
        <cusip>086413BK6</cusip>
        <identifiers>
          <isin value="US086413BK62"/>
        </identifiers>
        <balance>210000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210682.50000000</valUSD>
        <pctVal>0.228048094138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>South Carolina State Housing Finance &amp; Development Authority</name>
        <lei>N/A</lei>
        <title>South Carolina State Housing Finance &amp; Development Authority</title>
        <cusip>83712DK70</cusip>
        <identifiers>
          <isin value="US83712DK706"/>
        </identifiers>
        <balance>885000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1011094.80000000</valUSD>
        <pctVal>1.094434716378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>City of Chicago IL</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
        <title>City of Chicago</title>
        <cusip>167486D71</cusip>
        <identifiers>
          <isin value="US167486D712"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47670.40000000</valUSD>
        <pctVal>0.051599652874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>Buckeye Tobacco Settlement Financing Authority</name>
        <lei>N/A</lei>
        <title>Buckeye Tobacco Settlement Financing Authority</title>
        <cusip>118217DA3</cusip>
        <identifiers>
          <isin value="US118217DA38"/>
        </identifiers>
        <balance>1040000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>158329.60000000</valUSD>
        <pctVal>0.171379984221</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-06-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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="All applicable monthly total returns are reported excluding any sales loads or redemption fees for Item B.5." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2021-02-01</ncom:dateSigned>
      <ncom:nameOfApplicant>MFS Municipal Series Trust</ncom:nameOfApplicant>
      <ncom:signature>Kasey Phillips</ncom:signature>
      <ncom:signerName>Kasey Phillips</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
