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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Cedartown Polk County Hospital Authority</name>
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        <name>Dalton Whitfield County Joint Development Authority</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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          <isin value="US74526QXU11"/>
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        <curCd>USD</curCd>
        <valUSD>5200.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Augusta Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US05115CBM55"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>830175.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Territory of Guam</name>
        <lei>N/A</lei>
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          <isin value="US40065NCP06"/>
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        <curCd>USD</curCd>
        <valUSD>10842.77000000</valUSD>
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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>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Municipal Electric Authority of Georgia</name>
        <lei>JA0WNILDDF2KUPS83B16</lei>
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          <isin value="US6262074F85"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>132813.76000000</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>2038-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Development Authority for Fulton County</name>
        <lei>549300533NJL38F4K144</lei>
        <title>Development Authority for Fulton County</title>
        <cusip>3599008B6</cusip>
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          <isin value="US3599008B62"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>522020.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ben Hill County School District</name>
        <lei>N/A</lei>
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        <cusip>081518CC4</cusip>
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          <isin value="US081518CC41"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>775951.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cherokee County Water &amp; Sewer Authority/GA</name>
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          <isin value="US164243WY96"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1005170.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Guam Power Authority</name>
        <lei>549300IPOV320QCKW060</lei>
        <title>Guam Power Authority</title>
        <cusip>400653HP9</cusip>
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          <isin value="US400653HP97"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60396.19000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Michigan Finance Authority</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>Michigan Finance Authority</title>
        <cusip>59447PD32</cusip>
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          <isin value="US59447PD328"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20077.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Village of Bridgeview IL</name>
        <lei>N/A</lei>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>197058.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.14000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>Puerto Rico Electric Power Authority</title>
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          <isin value="US74526QXR81"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19500.00000000</valUSD>
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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>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>City of Atlanta GA Department of Aviation</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Development Authority of Cobb County (The)</name>
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        <name>City of Dalton GA</name>
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          <maturityDt>2036-02-01</maturityDt>
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        <name>Georgia Housing &amp; Finance Authority</name>
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        <name>Villa Rica Public Facilities Authority</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Atlanta GA Department of Aviation</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2044-07-01</maturityDt>
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      <invstOrSec>
        <name>Guam Power Authority</name>
        <lei>549300IPOV320QCKW060</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
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      <invstOrSec>
        <name>Savannah Hospital Authority</name>
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          <isin value="US37353PBM05"/>
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          <maturityDt>2048-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Energy Southeast A Cooperative District</name>
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          <isin value="US292723AK96"/>
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        <curCd>USD</curCd>
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          <maturityDt>2053-11-01</maturityDt>
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        <name>Development Authority for Fulton County</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Rome Building Authority</name>
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          <isin value="US776000AZ46"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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          <isin value="US74529JPV16"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Electric Power Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-07-01</maturityDt>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Doylestown Hospital Authority</name>
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        <name>Chicago Board of Education Dedicated Capital Improvement Tax</name>
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        <name>Maryland Community Development Administration</name>
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        <name>New Hampshire Business Finance Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Development Authority for Fulton County</name>
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        <name>Development Authority for Fulton County</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-05-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>City of Cartersville GA</name>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-12-01</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>Carrollton Payroll Development Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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          <maturityDt>2030-07-01</maturityDt>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>City of Atlanta GA Water &amp; Wastewater Revenue</name>
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        <name>Valdosta &amp; Lowndes County Hospital Authority</name>
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        <name>Georgia Ports Authority</name>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>George L Smith II Congress Center Authority</name>
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        <name>Clemson University</name>
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      <invstOrSec>
        <name>Columbus Hospital Authority</name>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Guam Government Waterworks Authority</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Development Authority of Bulloch County</name>
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        <name>Wayne County Airport Authority</name>
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          <maturityDt>2044-12-01</maturityDt>
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        <name>Minnesota Office of Higher Education</name>
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        <name>Puerto Rico Electric Power 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>District of Columbia</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Puerto Rico Electric Power Authority</name>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>Henry County Water Authority</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>Virginia Small Business Financing Authority</name>
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          <maturityDt>2041-01-01</maturityDt>
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        <name>Gainesville &amp; Hall County Development Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>Guam Government Waterworks Authority</name>
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        <name>Rome Building Authority</name>
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        <name>Allegheny County Hospital Development Authority</name>
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        <name>Dahlonega Downtown Development Authority</name>
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        <name>Georgia Ports Authority</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>Columbia County Hospital Authority/GA</name>
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        <name>Wayne County Airport Authority</name>
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        <name>Private Colleges &amp; Universities Authority</name>
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        <name>Chicago Board of Education Dedicated Capital Improvement Tax</name>
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        <name>Michigan Finance Authority</name>
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        <name>Americus-Sumter Payroll Development Authority</name>
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        <name>Toll Road Investors Partnership II LP</name>
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        <name>Puerto Rico Electric Power Authority</name>
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      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
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        <curCd>USD</curCd>
        <valUSD>37137.59000000</valUSD>
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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>2033-07-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Harris County Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
        <title>Harris County Cultural Education Facilities Finance Corp.</title>
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          <isin value="US414009RR38"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-01</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Development Authority of Cobb County (The)</name>
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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>2030-07-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
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        <curCd>USD</curCd>
        <valUSD>18200.00000000</valUSD>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Richmond County Hospital Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Atlanta</name>
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        <curCd>USD</curCd>
        <valUSD>523302.78000000</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>2038-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Classic Center Authority for Clarke County</name>
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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>2043-05-01</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>Metropolitan Atlanta Rapid Transit Authority</name>
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          <isin value="US591745V503"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Development Authority of Gwinnett County</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Guam Government Waterworks Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
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        <name>Metropolitan Atlanta Rapid Transit Authority</name>
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          <maturityDt>2040-07-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Chicago Board of Education Dedicated Capital Improvement Tax</name>
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          <maturityDt>2045-04-01</maturityDt>
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        <name>City of Atlanta GA</name>
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        <name>Municipal Electric Authority of Georgia</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <invCountry>PR</invCountry>

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        <name>New York State Dormitory Authority</name>
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        <invCountry>US</invCountry>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Colorado Health Facilities Authority</name>
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        <assetCat>DBT</assetCat>
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        <name>Metropolitan Pier &amp; Exposition Authority</name>
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          <maturityDt>2044-06-15</maturityDt>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Matching Fund Special Purpose Securitization Corp.</name>
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          <isin value="US57665NAB10"/>
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        <invCountry>VI</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Richmond County Development Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <invCountry>PR</invCountry>

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          <maturityDt>2053-07-01</maturityDt>
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          <maturityDt>2035-03-01</maturityDt>
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        <name>Commonwealth of Puerto Rico</name>
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        <invCountry>PR</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>City of Roswell GA</name>
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        <name>South Regional Joint Development Authority</name>
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        <name>California Community Choice Financing Authority</name>
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        <name>Cobb County Kennestone Hospital Authority</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>New York Liberty Development Corp.</name>
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        <name>George L Smith II Congress Center Authority</name>
        <lei>N/A</lei>
        <title>George L Smith II Congress Center Authority</title>
        <cusip>37255MAF2</cusip>
        <identifiers>
          <isin value="US37255MAF23"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>871050.30000000</valUSD>
        <pctVal>0.830921546892</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</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>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3Q8</cusip>
        <identifiers>
          <isin value="US74514L3Q89"/>
        </identifiers>
        <balance>7530.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7382.17000000</valUSD>
        <pctVal>0.007042077955</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-01</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>
      <invstOrSec>
        <name>City of Chicago IL</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
        <title>City of Chicago</title>
        <cusip>167486D71</cusip>
        <identifiers>
          <isin value="US167486D712"/>
        </identifiers>
        <balance>60000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65373.49000000</valUSD>
        <pctVal>0.062361773409</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>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3J4</cusip>
        <identifiers>
          <isin value="US74514L3J47"/>
        </identifiers>
        <balance>150816.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>167761.14000000</valUSD>
        <pctVal>0.160032487167</pctVal>
        <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>5.75000000</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>2024-01-30</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>
