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      <invstOrSec>
        <name>City of El Paso TX</name>
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        <name>Shelby County Board of Education</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>City of New York NY</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Shelby County Board of Education</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Chicago Transit Authority</name>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Lansing School District</name>
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          <maturityDt>2031-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Seattle WA Drainage &amp; Wastewater Revenue</name>
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        <name>Kent State University</name>
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        <name>University of Connecticut</name>
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        <name>University of Massachusetts Building Authority</name>
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        <name>Chattanooga Health Educational &amp; Housing Facility Board</name>
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        <name>JEA Water &amp; Sewer System Revenue</name>
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        <name>County of King WA Sewer Revenue</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>State of Kansas Department of Transportation</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Colorado Health Facilities Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Missouri Joint Municipal Electric Utility Commission</name>
        <lei>N/A</lei>
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          <isin value="US606092GW82"/>
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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>
        <debtSec>
          <maturityDt>2029-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Washington &amp; Multnomah Counties School District No. 48J Beaverton</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Jersey Health Care Facilities Financing Authority</name>
        <lei>N/A</lei>
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          <maturityDt>2031-07-01</maturityDt>
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      <invstOrSec>
        <name>Maricopa County Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Washington</name>
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        <valUSD>15074470.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Gainesville &amp; Hall County Hospital Authority</name>
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        <name>City of Houston TX Combined Utility System Revenue</name>
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        <name>Massachusetts Health &amp; Educational Facilities Authority</name>
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        <name>Scottsdale Municipal Property Corp.</name>
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        <name>San Antonio Water System</name>
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      <invstOrSec>
        <name>New York City Transitional Finance Authority Future Tax Secured Revenue</name>
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          <maturityDt>2023-11-01</maturityDt>
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          <maturityDt>2034-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>State of California</name>
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          <maturityDt>2030-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Michigan Finance Authority</name>
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        <name>City of Houston TX Combined Utility System Revenue</name>
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        <name>New Jersey Educational Facilities Authority</name>
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        <name>City of Anderson SC Water &amp; Sewer Revenue</name>
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        <name>Triborough Bridge &amp; Tunnel Authority</name>
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        <name>New York State Dormitory Authority</name>
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        <name>Louisiana Public Facilities Authority</name>
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        <name>County of Miami-Dade FL Aviation Revenue</name>
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      <invstOrSec>
        <name>City of Richmond VA Public Utility Revenue</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Philadelphia Gas Works Co.</name>
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          <isin value="US71783MAR60"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Municipal Electric Authority of Georgia</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kentucky Turnpike Authority</name>
        <lei>N/A</lei>
        <title>Kentucky Turnpike Authority</title>
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          <isin value="US491552G257"/>
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        <curCd>USD</curCd>
        <valUSD>3016460.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California State Public Works Board</name>
        <lei>N/A</lei>
        <title>California State Public Works Board</title>
        <cusip>130685J35</cusip>
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          <isin value="US130685J355"/>
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        <curCd>USD</curCd>
        <valUSD>3195750.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Miami-Dade FL Water &amp; Sewer System Revenue</name>
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          <isin value="US59334DHK37"/>
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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>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Phoenix Civic Improvement Corp.</name>
        <lei>N/A</lei>
        <title>City of Phoenix Civic Improvement Corp.</title>
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          <isin value="US71883MPU26"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pima County Regional Transportation Authority</name>
        <lei>N/A</lei>
        <title>Pima County Regional Transportation Authority</title>
        <cusip>72178RBJ3</cusip>
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          <isin value="US72178RBJ32"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Atlanta GA Water &amp; Wastewater Revenue</name>
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          <isin value="US047870MU16"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Washington Metropolitan Area Transit Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
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        <name>Pennsylvania Turnpike Commission</name>
        <lei>549300J8LLBYEYEXZJ24</lei>
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          <maturityDt>2025-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
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          <maturityDt>2030-11-01</maturityDt>
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        <name>Massachusetts School Building Authority</name>
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        <name>State of Oregon Department of Transportation</name>
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          <maturityDt>2036-11-15</maturityDt>
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        <name>San Antonio Water System</name>
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        <name>Commonwealth Financing Authority</name>
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      <invstOrSec>
        <name>Gainesville &amp; Hall County Hospital Authority</name>
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      <invstOrSec>
        <name>State of Connecticut Special Tax Revenue</name>
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        <balance>4500000.00000000</balance>
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      <invstOrSec>
        <name>Paducah Electric Plant Board</name>
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        <name>Pima County Regional Transportation Authority</name>
        <lei>N/A</lei>
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          <isin value="US72178RBL87"/>
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        <name>Metropolitan Transportation Authority</name>
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      <invstOrSec>
        <name>Wisconsin Department of Transportation</name>
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          <isin value="US977123S586"/>
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          <maturityDt>2024-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Norfolk VA Water Revenue</name>
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          <isin value="US656009ME42"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chattanooga Health Educational &amp; Housing Facility Board</name>
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          <isin value="US162410EF76"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US5446466P22"/>
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        <name>City of Minneapolis MN/St Paul Housing &amp; Redevelopment Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Clear Creek Independent School District</name>
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        <name>Erie County Industrial Development Agency (The)</name>
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        <name>Arizona Industrial Development Authority</name>
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      <invstOrSec>
        <name>City &amp; County of Denver CO Airport System Revenue</name>
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      <invstOrSec>
        <name>University of Massachusetts Building Authority</name>
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        <name>Rutgers The State University of New Jersey</name>
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          <isin value="US783186RS06"/>
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        <name>Virginia Resources Authority</name>
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          <isin value="US92817LRN54"/>
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        <name>Hudson County Improvement Authority</name>
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        <name>Connecticut State Health &amp; Educational Facilities Authority</name>
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        <name>Washoe County School District/NV</name>
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        <name>Texas Water Development Board</name>
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        <name>New York City Transitional Finance Authority Future Tax Secured Revenue</name>
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        <name>Glendale Industrial Development Authority</name>
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        <name>Metropolitan Transportation Authority</name>
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        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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      <invstOrSec>
        <name>Cleveland Department of Public Utilities Division of Water</name>
        <lei>N/A</lei>
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        <name>Orlando-Orange County Expressway Authority</name>
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        <name>Washington Health Care Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of New York NY</name>
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          <maturityDt>2027-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of West Virginia</name>
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          <isin value="US956553H202"/>
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          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Long Island Power Authority</name>
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          <isin value="US5426902H42"/>
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        <valUSD>5447000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Austin TX Water &amp; Wastewater System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Massachusetts School Building Authority</name>
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        <name>County of Buncombe NC</name>
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        <name>New York City Transitional Finance Authority Future Tax Secured Revenue</name>
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          <maturityDt>2023-11-01</maturityDt>
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        <name>State of Rhode Island</name>
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        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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        <name>Orlando Utilities Commission</name>
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        <name>Chattanooga Health Educational &amp; Housing Facility Board</name>
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      <invstOrSec>
        <name>Kent State University</name>
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      <invstOrSec>
        <name>Maryland Health &amp; Higher Educational Facilities Authority</name>
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        <name>State of Florida</name>
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          <maturityDt>2032-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Kentucky Economic Development Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US49126PFY16"/>
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        <valUSD>1157160.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Washington Health Care Facilities Authority</name>
        <lei>549300ZVPWQIL3N5TL85</lei>
        <title>Washington Health Care Facilities Authority</title>
        <cusip>93978HWD3</cusip>
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          <isin value="US93978HWD33"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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          <isin value="US13033LKS50"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Washington Health Care Facilities Authority</name>
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          <isin value="US93978HSK22"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Seattle WA Drainage &amp; Wastewater Revenue</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Chatom Industrial Development Board</name>
        <lei>N/A</lei>
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        <cusip>16229PAH8</cusip>
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          <isin value="US16229PAH82"/>
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        <valUSD>3562078.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Metropolitan Pier &amp; Exposition Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Hamilton OH Sewer System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>North Texas Tollway Authority</name>
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          <maturityDt>2033-01-01</maturityDt>
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        <name>Ohio Water Development Authority Water Pollution Control Loan Fund</name>
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          <isin value="US67766WXX54"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-01</maturityDt>
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        <name>Colorado Health Facilities Authority</name>
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          <maturityDt>2039-08-01</maturityDt>
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        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
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          <isin value="US546399CX26"/>
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          <maturityDt>2032-07-01</maturityDt>
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        <name>Arizona Industrial Development Authority</name>
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          <isin value="US04052FAN50"/>
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        <name>New York City Transitional Finance Authority Future Tax Secured Revenue</name>
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      <invstOrSec>
        <name>California State Public Works Board</name>
        <lei>N/A</lei>
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          <isin value="US130685J439"/>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
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          <isin value="US13063BPF30"/>
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        <valUSD>5322800.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>State of Connecticut Special Tax Revenue</name>
        <lei>N/A</lei>
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          <isin value="US207758ZZ96"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Commonwealth of Pennsylvania</name>
        <lei>N/A</lei>
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          <isin value="US70914PUW03"/>
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        <valUSD>15411477.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JEA Water &amp; Sewer System Revenue</name>
        <lei>N/A</lei>
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          <isin value="US46615SAN80"/>
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        <valUSD>1799188.20000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Palm Beach County Solid Waste Authority</name>
        <lei>N/A</lei>
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          <isin value="US696560JS14"/>
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          <maturityDt>2023-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Clean Water Trust (The)</name>
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          <isin value="US57605AFL52"/>
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        <valUSD>13457659.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Kentucky State Property &amp; Building Commission</name>
        <lei>N/A</lei>
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          <isin value="US49151FZC75"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Metropolitan Transportation Authority</name>
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          <isin value="US59261AA495"/>
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        <valUSD>10272900.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Baltimore MD</name>
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          <isin value="US05922KZH57"/>
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          <maturityDt>2030-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Texas Transportation Commission State Highway Fund</name>
        <lei>N/A</lei>
        <title>Texas Transportation Commission State Highway Fund</title>
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          <isin value="US88283LJH06"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Los Angeles Department of Water &amp; Power Power System Revenue</name>
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          <isin value="US5444953K89"/>
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          <maturityDt>2034-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Berkeley SC Combined Utility System Revenue</name>
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          <isin value="US084213AN75"/>
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          <maturityDt>2026-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <maturityDt>2021-12-01</maturityDt>
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        <name>City of Riverside CA Sewer Revenue</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Toledo City School District</name>
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          <maturityDt>2025-12-01</maturityDt>
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        <name>Arizona Health Facilities Authority</name>
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        <invCountry>US</invCountry>
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        <name>Massachusetts Port Authority</name>
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        <name>Louisiana Public Facilities Authority</name>
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        <name>Harris County Toll Road Authority (The)</name>
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        <name>Hudson County Improvement Authority</name>
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        <name>Kent State University</name>
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        <name>Glendale Industrial Development Authority</name>
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      <invstOrSec>
        <name>Texas Transportation Commission State Highway Fund</name>
        <lei>N/A</lei>
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          <isin value="US88283LJC19"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2024-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Alabama Public School and College Authority</name>
        <lei>N/A</lei>
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          <isin value="US010609AW55"/>
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          <maturityDt>2027-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Pennsylvania Economic Development Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US70870JCG13"/>
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          <maturityDt>2039-04-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>State of Ohio</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Regional Transportation District</name>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Miami-Dade FL Transit System</name>
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          <maturityDt>2035-07-01</maturityDt>
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        <name>Colorado Health Facilities Authority</name>
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          <maturityDt>2036-08-01</maturityDt>
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        <name>Washington Health Care Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
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      <invstOrSec>
        <name>American Municipal Power, Inc.</name>
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          <maturityDt>2035-02-15</maturityDt>
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        <name>City of Fort Worth TX</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Miami-Dade FL Transit System</name>
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        <name>Energy Northwest</name>
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        <name>Commonwealth Financing Authority</name>
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        <name>Arkansas Development Finance Authority</name>
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        <name>Massachusetts Port Authority</name>
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        <name>Municipal Electric Authority of Georgia</name>
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      <invstOrSec>
        <name>Maryland Community Development Administration</name>
        <lei>N/A</lei>
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        <name>Glendale Industrial Development Authority</name>
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        <name>Ohio Water Development Authority Water Pollution Control Loan Fund</name>
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        <name>JEA Water &amp; Sewer System Revenue</name>
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      <invstOrSec>
        <name>Clear Creek Independent School District</name>
        <lei>N/A</lei>
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          <isin value="US1845403L45"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles Unified School District/CA</name>
        <lei>N/A</lei>
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        <cusip>544647BR0</cusip>
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          <isin value="US544647BR04"/>
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        <curCd>USD</curCd>
        <valUSD>8556210.00000000</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>2035-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Educational Facilities Authority</name>
        <lei>549300UTOO4X537XXG70</lei>
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          <isin value="US6460666A35"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Phoenix Civic Improvement Corp.</name>
        <lei>N/A</lei>
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          <isin value="US71883MMP67"/>
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        <curCd>USD</curCd>
        <valUSD>11952300.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
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          <isin value="US13063CUX63"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12096300.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lansing School District</name>
        <lei>N/A</lei>
        <title>Lansing School District</title>
        <cusip>516444RG3</cusip>
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          <isin value="US516444RG36"/>
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        <balance>2310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2847005.70000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Minneapolis MN/St Paul Housing &amp; Redevelopment Authority</name>
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          <isin value="US603695FU67"/>
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        <curCd>USD</curCd>
        <valUSD>7875000.00000000</valUSD>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.04999900</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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          <isin value="US64990EUY12"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5887650.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>City of Cincinnati OH</name>
        <lei>N/A</lei>
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        <cusip>172217SD4</cusip>
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          <isin value="US172217SD43"/>
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        <curCd>USD</curCd>
        <valUSD>1389570.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue</name>
        <lei>N/A</lei>
        <title>Massachusetts Transportation Trust Fund Metropolitan Highway System</title>
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          <isin value="US57563CET53"/>
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        <curCd>USD</curCd>
        <valUSD>8869210.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Illinois</name>
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        <valUSD>6086406.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>City of Charlotte NC Water &amp; Sewer System Revenue</name>
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        <valUSD>12201800.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Higher Education Student Assistance Authority</name>
        <lei>5493007OOYUHTF8GSL63</lei>
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          <isin value="US646080VF50"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-01</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>Dallas/Fort Worth International Airport</name>
        <lei>N/A</lei>
        <title>Dallas/Fort Worth International Airport</title>
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          <maturityDt>2027-11-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Hudson County Improvement Authority</name>
        <lei>N/A</lei>
        <title>Hudson County Improvement Authority</title>
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          <isin value="US44372BED10"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2023-10-01</maturityDt>
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          <annualizedRt>5.37500000</annualizedRt>
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        <name>Massachusetts School Building Authority</name>
        <lei>N/A</lei>
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          <isin value="US576000YB32"/>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of New York NY</name>
        <lei>549300ABYZD2SFD5JB29</lei>
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        <valUSD>8809840.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Colorado Health Facilities Authority</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Northwest Independent School District</name>
        <lei>N/A</lei>
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          <isin value="US667825K695"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Orlando Utilities Commission</name>
        <lei>549300EJR7JVMRXL5D66</lei>
        <title>Orlando Utilities Commission</title>
        <cusip>686507FK5</cusip>
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          <isin value="US686507FK54"/>
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        <curCd>USD</curCd>
        <valUSD>2883017.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York State Thruway Authority</name>
        <lei>N/A</lei>
        <title>New York State Thruway Authority</title>
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          <isin value="US650009YD91"/>
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        <curCd>USD</curCd>
        <valUSD>10765400.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Power System Revenue</name>
        <lei>N/A</lei>
        <title>Los Angeles Department of Water &amp; Power Power System</title>
        <cusip>5444953H5</cusip>
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          <isin value="US5444953H50"/>
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        <balance>4615000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5848635.65000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of San Antonio TX Electric &amp; Gas Systems Revenue</name>
        <lei>5493002G2FEH20Q4GQ04</lei>
        <title>City of San Antonio</title>
        <cusip>79625GBM4</cusip>
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          <isin value="US79625GBM42"/>
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        <balance>4400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5829428.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Port St Lucie FL Utility System Revenue</name>
        <lei>N/A</lei>
        <title>City of Port St Lucie</title>
        <cusip>735352QF6</cusip>
        <identifiers>
          <isin value="US735352QF67"/>
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        <balance>1635000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1870113.00000000</valUSD>
        <pctVal>0.051016076587</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Toledo City School District</name>
        <lei>N/A</lei>
        <title>Toledo City School District</title>
        <cusip>889294PW8</cusip>
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          <isin value="US889294PW89"/>
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        <balance>4565000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5073723.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</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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      <invstOrSec>
        <name>Michigan State Hospital Finance Authority</name>
        <lei>54930011MIBQ2P7ZNM19</lei>
        <title>Michigan State Hospital Finance Authority</title>
        <cusip>59465HUW4</cusip>
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          <isin value="US59465HUW41"/>
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        <balance>5100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5807982.00000000</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>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lower Colorado River Authority</name>
        <lei>549300QJFPW2NNBYR215</lei>
        <title>Lower Colorado River Authority</title>
        <cusip>54811BKY6</cusip>
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          <isin value="US54811BKY64"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6250980.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-15</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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      <invstOrSec>
        <name>North Carolina Eastern Municipal Power Agency</name>
        <lei>N/A</lei>
        <title>North Carolina Eastern Municipal Power Agency</title>
        <cusip>6581963Q1</cusip>
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          <isin value="US6581963Q14"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10269400.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Illinois</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>State of Illinois</title>
        <cusip>452152RJ2</cusip>
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        <balance>18000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19096920.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Texas Water Development Board</name>
        <lei>N/A</lei>
        <title>Texas Water Development Board</title>
        <cusip>882854P97</cusip>
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          <isin value="US882854P974"/>
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        <balance>10000000.00000000</balance>
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        <valUSD>12025500.00000000</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>2036-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>City &amp; County of Denver CO Airport System Revenue</name>
        <lei>N/A</lei>
        <title>City &amp; County of Denver</title>
        <cusip>249182JB3</cusip>
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          <isin value="US249182JB35"/>
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        <balance>4250000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>City of Houston TX Combined Utility System Revenue</name>
        <lei>N/A</lei>
        <title>City of Houston</title>
        <cusip>44244CMZ7</cusip>
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          <isin value="US44244CMZ76"/>
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        <balance>3250000.00000000</balance>
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          <maturityDt>2034-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Baltimore MD</name>
        <lei>N/A</lei>
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        <name>Connecticut State Health &amp; Educational Facilities Authority</name>
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        <name>Madison City Board of Education</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>City of Cleveland OH Airport System Revenue</name>
        <lei>N/A</lei>
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        <name>Massachusetts School Building Authority</name>
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      <invstOrSec>
        <name>City of Dallas TX Waterworks &amp; Sewer System Revenue</name>
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          <isin value="US23542JFN00"/>
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      <invstOrSec>
        <name>Broward County FL Water &amp; Sewer Utility Revenue</name>
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          <isin value="US115117KW22"/>
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          <maturityDt>2024-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of New York NY</name>
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          <isin value="US64966MR350"/>
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        <valUSD>2533800.00000000</valUSD>
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          <maturityDt>2032-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Utah State Board of Regents</name>
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          <isin value="US917546HJ57"/>
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        <valUSD>9152640.00000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2021-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Energy Northwest</name>
        <lei>N/A</lei>
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          <isin value="US29270CZU25"/>
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          <maturityDt>2022-07-01</maturityDt>
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      <invstOrSec>
        <name>Arizona Department of Transportation State Highway Fund Revenue</name>
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          <isin value="US040654TM73"/>
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          <maturityDt>2024-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Metropolitan Government of Nashville &amp; Davidson County TN Water &amp; Sewer Revenue</name>
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          <isin value="US592098L887"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>JEA Water &amp; Sewer System Revenue</name>
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        <title>JEA Water &amp; Sewer System</title>
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          <isin value="US46615SAR94"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Kentucky Municipal Power Agency</name>
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          <isin value="US491501FA57"/>
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        <name>Massachusetts School Building Authority</name>
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        <name>Northwest Independent School District</name>
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        <name>City of Phoenix Civic Improvement Corp.</name>
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        <name>Ohio Turnpike &amp; Infrastructure Commission</name>
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          <maturityDt>2024-02-15</maturityDt>
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        <name>State of Rhode Island</name>
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        <lei>549300C8XO7EXTX2XU71</lei>
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        <name>Wisconsin Department of Transportation</name>
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      <invstOrSec>
        <name>City of Fort Worth TX</name>
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      <invstOrSec>
        <name>Philadelphia Gas Works Co.</name>
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          <isin value="US71783MAQ87"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Orange County Health Facilities Authority</name>
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          <isin value="US68450LEE11"/>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Power System Revenue</name>
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      <invstOrSec>
        <name>Toledo City School District</name>
        <lei>N/A</lei>
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          <isin value="US889294PT50"/>
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          <maturityDt>2024-12-01</maturityDt>
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      <invstOrSec>
        <name>City of Houston TX Combined Utility System Revenue</name>
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        <title>City of Houston</title>
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          <isin value="US4424354N01"/>
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        <name>Metropolitan Transit Authority of Harris County Sales &amp; Use Tax Revenue</name>
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          <isin value="US41422EET64"/>
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          <maturityDt>2028-11-01</maturityDt>
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        <name>Missouri Joint Municipal Electric Utility Commission</name>
        <lei>N/A</lei>
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        <name>County of Hamilton OH Sewer System Revenue</name>
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        <name>New York City Transitional Finance Authority Future Tax Secured Revenue</name>
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        <name>Massachusetts Port Authority</name>
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        <name>Virginia College Building Authority</name>
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        <name>Maricopa County Industrial Development Authority</name>
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        <name>Washington Health Care Facilities Authority</name>
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        <name>Virginia College Building Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Health Care Facilities Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US645790LF14"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
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      <invstOrSec>
        <name>Washington Health Care Facilities Authority</name>
        <lei>549300ZVPWQIL3N5TL85</lei>
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          <isin value="US93978HVZ53"/>
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        <valUSD>3351404.00000000</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>2030-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York State Urban Development Corp.</name>
        <lei>54930039Y2EMGXN6LM88</lei>
        <title>New York State Urban Development Corp.</title>
        <cusip>650035E38</cusip>
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          <isin value="US650035E388"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11174900.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-03-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority</title>
        <cusip>546399DM5</cusip>
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          <isin value="US546399DM51"/>
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        <curCd>USD</curCd>
        <valUSD>1430712.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Maricopa County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Maricopa County Industrial Development Authority</title>
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          <isin value="US56678PAJ66"/>
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        <curCd>USD</curCd>
        <valUSD>1213140.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority</title>
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          <isin value="US64990AMH58"/>
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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>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Virginia Beach Development Authority</name>
        <lei>N/A</lei>
        <title>Virginia Beach Development Authority</title>
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          <isin value="US92774GFH39"/>
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        <balance>13450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13558003.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Riverside CA Sewer Revenue</name>
        <lei>N/A</lei>
        <title>City of Riverside</title>
        <cusip>769047HW4</cusip>
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          <isin value="US769047HW42"/>
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        <balance>11000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13274910.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Scottsdale Municipal Property Corp.</name>
        <lei>N/A</lei>
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          <isin value="US810489RN63"/>
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        <balance>2580000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Tohopekaliga Water Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Lansing Board of Water &amp; Light</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New York State Dormitory Authority</name>
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          <maturityDt>2032-03-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Miami-Dade FL Transit System</name>
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        <name>Triborough Bridge &amp; Tunnel Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Metropolitan Transit Authority of Harris County</name>
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        <name>State of Washington</name>
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        <name>University of Houston</name>
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        <title>University of Houston</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-02-15</maturityDt>
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        <name>Greater Orlando Aviation Authority</name>
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        <name>Energy Northwest</name>
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        <name>Louisiana Public Facilities Authority</name>
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        <name>Texas Water Development Board</name>
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      <invstOrSec>
        <name>City of Phoenix Civic Improvement Corp.</name>
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        <name>Northeast Ohio Regional Sewer District</name>
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        <name>Maricopa County Industrial Development Authority</name>
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        <name>Arizona Department of Transportation State Highway Fund Revenue</name>
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        <name>California Statewide Communities Development Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>New Jersey Health Care Facilities Financing Authority</name>
        <lei>N/A</lei>
        <title>New Jersey Health Care Facilities Financing Authority</title>
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          <isin value="US64579FS536"/>
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        <curCd>USD</curCd>
        <valUSD>10038400.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Colorado Health Facilities Authority</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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          <isin value="US19648FJT21"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2322300.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</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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      <invstOrSec>
        <name>City of Austin TX Water &amp; Wastewater System Revenue</name>
        <lei>N/A</lei>
        <title>City of Austin</title>
        <cusip>052476A57</cusip>
        <identifiers>
          <isin value="US052476A576"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4450600.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Bi-State Development Agency of the Missouri-Illinois Metropolitan District</name>
        <lei>N/A</lei>
        <title>Bi-State Development Agency of the Missouri-Illinois Metropolitan District</title>
        <cusip>088632CE2</cusip>
        <identifiers>
          <isin value="US088632CE29"/>
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        <balance>6800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7929480.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Seattle WA Drainage &amp; Wastewater Revenue</name>
        <lei>N/A</lei>
        <title>City of Seattle</title>
        <cusip>812631KZ1</cusip>
        <identifiers>
          <isin value="US812631KZ10"/>
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        <balance>2995000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3527960.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Washington Health Care Facilities Authority</name>
        <lei>549300ZVPWQIL3N5TL85</lei>
        <title>Washington Health Care Facilities Authority</title>
        <cusip>93978HWE1</cusip>
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          <isin value="US93978HWE16"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1439650.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Texas Tollway Authority</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
        <title>North Texas Tollway Authority</title>
        <cusip>66285WJE7</cusip>
        <identifiers>
          <isin value="US66285WJE75"/>
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        <balance>12000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12709320.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-01</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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      <invstOrSec>
        <name>City of Memphis TN</name>
        <lei>549300J2762HBWE6MQ22</lei>
        <title>City of Memphis</title>
        <cusip>586145ZF4</cusip>
        <identifiers>
          <isin value="US586145ZF40"/>
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        <balance>15805000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17184302.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-01</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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      <invstOrSec>
        <name>City of Dallas TX Waterworks &amp; Sewer System Revenue</name>
        <lei>N/A</lei>
        <title>City of Dallas</title>
        <cusip>23542JFM2</cusip>
        <identifiers>
          <isin value="US23542JFM27"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3152200.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Gainesville FL Utilities System Revenue</name>
        <lei>N/A</lei>
        <title>City of Gainesville</title>
        <cusip>362848UC5</cusip>
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          <isin value="US362848UC51"/>
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        <curCd>USD</curCd>
        <valUSD>1917180.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Shelby County Health Educational &amp; Housing Facilities Board</name>
        <lei>N/A</lei>
        <title>Shelby County Health Educational &amp; Housing Facilities Board</title>
        <cusip>821697K99</cusip>
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          <isin value="US821697K998"/>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.05999800</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Texas Transportation Commission State Highway Fund</name>
        <lei>N/A</lei>
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        <cusip>88283LJB3</cusip>
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          <isin value="US88283LJB36"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arkansas Development Finance Authority</name>
        <lei>N/A</lei>
        <title>Arkansas Development Finance Authority</title>
        <cusip>04084RBU4</cusip>
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          <isin value="US04084RBU41"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Diego Public Facilities Financing Authority</name>
        <lei>N/A</lei>
        <title>San Diego Public Facilities Financing Authority</title>
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          <isin value="US79730CKK98"/>
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        <balance>1250000.00000000</balance>
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        <valUSD>1518550.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Kentucky Turnpike Authority</name>
        <lei>N/A</lei>
        <title>Kentucky Turnpike Authority</title>
        <cusip>491552R23</cusip>
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          <isin value="US491552R239"/>
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        <valUSD>3556110.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
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          <isin value="US677521VL70"/>
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        <valUSD>9069022.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2024-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Washington Health Care Facilities Authority</name>
        <lei>549300ZVPWQIL3N5TL85</lei>
        <title>Washington Health Care Facilities Authority</title>
        <cusip>93978HWA9</cusip>
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          <isin value="US93978HWA93"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2031-08-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arkansas Development Finance Authority</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>University of Houston</name>
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        <name>Louisiana Public Facilities Authority</name>
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        <name>Jefferson Sales Tax District</name>
        <lei>N/A</lei>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>State of California</name>
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      <invstOrSec>
        <name>City of Norfolk VA Water Revenue</name>
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      <invstOrSec>
        <name>City of Phoenix Civic Improvement Corp.</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>City of South Miami Health Facilities Authority, Inc.</name>
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          <maturityDt>2033-08-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Municipal Electric Authority of Georgia</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Ohio</name>
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          <isin value="US6775217G59"/>
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        <valUSD>10716160.00000000</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>2028-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US04052FAK12"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Kentucky Municipal Power Agency</name>
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          <isin value="US491501EY43"/>
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        <balance>1500000.00000000</balance>
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        <valUSD>1822230.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Kent State University</name>
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        <valUSD>1638375.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Miami-Dade FL Transit System</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of King WA Sewer Revenue</name>
        <lei>N/A</lei>
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          <maturityDt>2028-07-01</maturityDt>
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        <name>City of Cincinnati OH</name>
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          <maturityDt>2025-12-01</maturityDt>
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        <name>Louisiana Public Facilities Authority</name>
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          <isin value="US546399CC88"/>
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        <name>State of Hawaii</name>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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        <name>Broward County FL Water &amp; Sewer Utility Revenue</name>
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        <name>State of Connecticut</name>
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        <name>Clackamas County School District No. 12 North Clackamas</name>
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        <name>Lee Memorial Health System</name>
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        <name>University of Houston</name>
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        <name>El Paso Independent School District</name>
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        <name>City of Baltimore MD</name>
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        <name>Lancaster County Solid Waste Management Authority</name>
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        <name>Pennsylvania Turnpike Commission</name>
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        <name>State of California</name>
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          <maturityDt>2030-03-01</maturityDt>
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        <name>Connecticut State Health &amp; Educational Facilities Authority</name>
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        <name>Chatom Industrial Development Board</name>
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        <name>State of California</name>
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        <name>Rutgers The State University of New Jersey</name>
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        <name>Lancaster County Solid Waste Management Authority</name>
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      <invstOrSec>
        <name>Connecticut State Health &amp; Educational Facilities Authority</name>
        <lei>549300ZOQJ5U8YBS5Q35</lei>
        <title>Connecticut State Health &amp; Educational Facilities Authority</title>
        <cusip>20775DCN0</cusip>
        <identifiers>
          <isin value="US20775DCN03"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>266440.00000000</valUSD>
        <pctVal>0.007268396854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>Chattanooga Health Educational &amp; Housing Facility Board</name>
        <lei>N/A</lei>
        <title>Chattanooga Health Educational &amp; Housing Facility Board</title>
        <cusip>162410EH3</cusip>
        <identifiers>
          <isin value="US162410EH33"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1046520.00000000</valUSD>
        <pctVal>0.028548726451</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</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>Massachusetts Clean Water Trust (The)</name>
        <lei>549300SYPEROLSQU0261</lei>
        <title>Massachusetts Clean Water Trust (The)</title>
        <cusip>57605AEH5</cusip>
        <identifiers>
          <isin value="US57605AEH59"/>
        </identifiers>
        <balance>9750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10991565.00000000</valUSD>
        <pctVal>0.299846331134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-01</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>Hillsboro School District No. 1J</name>
        <lei>N/A</lei>
        <title>Hillsboro School District No. 1J</title>
        <cusip>939307KE3</cusip>
        <identifiers>
          <isin value="US939307KE35"/>
        </identifiers>
        <balance>1295000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1603041.65000000</valUSD>
        <pctVal>0.043730456710</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-15</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>Michigan Finance Authority</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>Michigan Finance Authority</title>
        <cusip>59447TGX5</cusip>
        <identifiers>
          <isin value="US59447TGX54"/>
        </identifiers>
        <balance>8200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9481250.00000000</valUSD>
        <pctVal>0.258645427386</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</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>Infirmary Health System Special Care Facilities Financing Authority of Mobile</name>
        <lei>N/A</lei>
        <title>Infirmary Health System Special Care Facilities Financing Authority of Mobile</title>
        <cusip>45663NBP6</cusip>
        <identifiers>
          <isin value="US45663NBP69"/>
        </identifiers>
        <balance>4920000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5806879.20000000</valUSD>
        <pctVal>0.158409782725</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</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 Massachusetts</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>Commonwealth of Massachusetts</title>
        <cusip>57582REK8</cusip>
        <identifiers>
          <isin value="US57582REK86"/>
        </identifiers>
        <balance>7500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9122775.00000000</valUSD>
        <pctVal>0.248866345558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</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>Lafayette Consolidated Government</name>
        <lei>N/A</lei>
        <title>Lafayette Consolidated Government</title>
        <cusip>50646PCG2</cusip>
        <identifiers>
          <isin value="US50646PCG28"/>
        </identifiers>
        <balance>2400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2943768.00000000</valUSD>
        <pctVal>0.080305037045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>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>City of Fort Smith AR Sales &amp; Use Tax Revenue</name>
        <lei>N/A</lei>
        <title>City of Fort Smith</title>
        <cusip>348761DH7</cusip>
        <identifiers>
          <isin value="US348761DH75"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5394100.00000000</valUSD>
        <pctVal>0.147149299919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>New York City Transitional Finance Authority Future Tax Secured Revenue</name>
        <lei>N/A</lei>
        <title>New York City Transitional Finance Authority Future Tax Secured</title>
        <cusip>64971XQG6</cusip>
        <identifiers>
          <isin value="US64971XQG69"/>
        </identifiers>
        <balance>1400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1653456.00000000</valUSD>
        <pctVal>0.045105743840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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 Atlanta GA Water &amp; Wastewater Revenue</name>
        <lei>N/A</lei>
        <title>City of Atlanta</title>
        <cusip>047870RF9</cusip>
        <identifiers>
          <isin value="US047870RF93"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3777510.00000000</valUSD>
        <pctVal>0.103049248612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</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>Hillsboro School District No. 1J</name>
        <lei>N/A</lei>
        <title>Hillsboro School District No. 1J</title>
        <cusip>939307KJ2</cusip>
        <identifiers>
          <isin value="US939307KJ22"/>
        </identifiers>
        <balance>4575000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5491830.00000000</valUSD>
        <pctVal>0.149815342648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-15</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>Washington Health Care Facilities Authority</name>
        <lei>549300ZVPWQIL3N5TL85</lei>
        <title>Washington Health Care Facilities Authority</title>
        <cusip>93978HUK9</cusip>
        <identifiers>
          <isin value="US93978HUK93"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1209550.00000000</valUSD>
        <pctVal>0.032996132017</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>Colorado Health Facilities Authority</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority</title>
        <cusip>19648FKM5</cusip>
        <identifiers>
          <isin value="US19648FKM58"/>
        </identifiers>
        <balance>4500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5182740.00000000</valUSD>
        <pctVal>0.141383467615</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</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>Madison City Board of Education</name>
        <lei>N/A</lei>
        <title>Madison City Board of Education</title>
        <cusip>55658FAN5</cusip>
        <identifiers>
          <isin value="US55658FAN50"/>
        </identifiers>
        <balance>2855000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3488239.00000000</valUSD>
        <pctVal>0.095158029477</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</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>County of King WA Sewer Revenue</name>
        <lei>N/A</lei>
        <title>County of King</title>
        <cusip>495289Q37</cusip>
        <identifiers>
          <isin value="US495289Q376"/>
        </identifiers>
        <balance>2600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3072472.00000000</valUSD>
        <pctVal>0.083816040456</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</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>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Tax Free Trust</ncom:nameOfApplicant>
      <ncom:signature>Robert Kubilis</ncom:signature>
      <ncom:signerName>Robert Kubilis</ncom:signerName>
      <ncom:title>Chief Financial Officer, Chief Accounting Officer and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
