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        <lei>N/A</lei>
        <title>COLUMBIA &amp; WASH CNTYS ORE SCH DIST NO 47J VERNON</title>
        <cusip>19719CAZ8</cusip>
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          <other otherDesc="Internal Identifier" value="465359"/>
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        <curCd>USD</curCd>
        <valUSD>5236789.50000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-15</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>PORTLAND ORE REV</name>
        <lei>N/A</lei>
        <title>PORTLAND ORE REV</title>
        <cusip>73674NCF6</cusip>
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          <other otherDesc="Internal Identifier" value="525216"/>
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        <valUSD>1088900.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SHERWOOD ORE</name>
        <lei>N/A</lei>
        <title>SHERWOOD ORE</title>
        <cusip>824420FR9</cusip>
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          <other otherDesc="Internal Identifier" value="493047"/>
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        <balance>4240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4441612.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EUGENE OR ELEC UTILITY REVENUE</name>
        <lei>N/A</lei>
        <title>EUGENE OR ELEC UTILITY REVENUE</title>
        <cusip>298191Q59</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="674359"/>
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        <balance>3580000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4445787.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Salem Hospital Facility Authority</name>
        <lei>N/A</lei>
        <title>Salem Hospital Facility Authority</title>
        <cusip>794458EX3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="933780"/>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2000169.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-15</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MEDFORD ORE HOSP FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>MEDFORD ORE HOSP FACS AUTH REV</title>
        <cusip>584283GF6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="557969"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1665600.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MULTNOMAH CNTY ORE SCH DIST NO 3 PK ROSE</name>
        <lei>N/A</lei>
        <title>MULTNOMAH CNTY ORE SCH DIST NO 3 PK ROSE</title>
        <cusip>625540ED7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="499912"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2111300.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Warm Springs Reservation Confederated Tribe</name>
        <lei>N/A</lei>
        <title>Warm Springs Reservation Confederated Tribe</title>
        <cusip>934312AP4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1000954"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>916717.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MULTNOMAH CNTY ORE SCH DIST NO 40</name>
        <lei>N/A</lei>
        <title>MULTNOMAH CNTY ORE SCH DIST NO 40</title>
        <cusip>625693HE9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="526694"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1616460.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JEFFERSON CNTY OR SCH DIST #509</name>
        <lei>N/A</lei>
        <title>JEFFERSON CNTY OR SCH DIST #509</title>
        <cusip>473448EH7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="554256"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2258360.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TRI-CNTY OR MET TRANSN DIST</name>
        <lei>N/A</lei>
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        <cusip>89546RPT5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="683799"/>
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        <balance>6865000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8734202.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARION CNTY OR SCH DIST #103 WOODBURN</name>
        <lei>N/A</lei>
        <title>MARION CNTY OR SCH DIST #103 WOODBURN</title>
        <cusip>569280DJ6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="609341"/>
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        <balance>3200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3844608.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>PORTLAND ORE REV</name>
        <lei>N/A</lei>
        <title>PORTLAND ORE REV</title>
        <cusip>73674NBZ3</cusip>
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          <other otherDesc="Internal Identifier" value="525213"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Oregon City School District No 62</name>
        <lei>N/A</lei>
        <title>Oregon City School District No 62</title>
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          <other otherDesc="Internal Identifier" value="949528"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MULTNOMAH CNTY ORE SCH DIST NO 40</name>
        <lei>N/A</lei>
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        <cusip>625693HC3</cusip>
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          <other otherDesc="Internal Identifier" value="526707"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
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      <invstOrSec>
        <name>MULTNOMAH CNTY ORE SCH DIST NO 7 REYNOLDS</name>
        <lei>N/A</lei>
        <title>MULTNOMAH CNTY ORE SCH DIST NO 7 REYNOLDS</title>
        <cusip>625574JT6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="469431"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-01</maturityDt>
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      <invstOrSec>
        <name>TIGARD WTR SYS REVENUE</name>
        <lei>N/A</lei>
        <title>TIGARD WTR SYS REVENUE</title>
        <cusip>88675AAT3</cusip>
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          <other otherDesc="Internal Identifier" value="519155"/>
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        <valUSD>12045052.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Jackson County School District No 6 Central Point</name>
        <lei>N/A</lei>
        <title>Jackson County School District No 6 Central Point</title>
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          <other otherDesc="Internal Identifier" value="993748"/>
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        <balance>710000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>388966.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY OREGON GEN REV</name>
        <lei>549300FHOP2K4GYRPY40</lei>
        <title>UNIVERSITY OREGON GEN REV</title>
        <cusip>914767AB4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="633607"/>
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        <balance>11690000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14046587.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PORTLAND ORE URBAN RENEWAL &amp; REDEV</name>
        <lei>N/A</lei>
        <title>PORTLAND ORE URBAN RENEWAL &amp; REDEV</title>
        <cusip>736746VG0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="477531"/>
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        <balance>4725000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4776597.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</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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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CLACKAMAS COMMUNITY COLLEGE DISTRICT</name>
        <lei>N/A</lei>
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        <cusip>179390NM7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="667405"/>
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        <balance>760000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>929069.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Jackson County School District No 5 Ashland</name>
        <lei>N/A</lei>
        <title>Jackson County School District No 5 Ashland</title>
        <cusip>467736EC4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="981085"/>
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        <balance>5015000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6564635.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OREGON HEALTH SCIENCES UNIV REV</name>
        <lei>549300XTWOAGON8L2G98</lei>
        <title>OREGON HEALTH SCIENCES UNIV REV</title>
        <cusip>685869FF1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="660155"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12335200.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-01</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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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON MULTNOMAH &amp; YAMHILL CNTYS OR SCH DIST</name>
        <lei>N/A</lei>
        <title>WASHINGTON MULTNOMAH &amp; YAMHILL CNTYS OR SCH DIST</title>
        <cusip>939307KK9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1042477"/>
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        <balance>8750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10750425.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON CNTY ORE SCH DIST #15 FOREST GROVE</name>
        <lei>N/A</lei>
        <title>WASHINGTON CNTY ORE SCH DIST #15 FOREST GROVE</title>
        <cusip>938361NC2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="514412"/>
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        <balance>2545000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2192059.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CLACKAMAS CNTY ORE SCH DIST NO 46 OREGON TRAIL</name>
        <lei>N/A</lei>
        <title>CLACKAMAS CNTY ORE SCH DIST NO 46 OREGON TRAIL</title>
        <cusip>179126DF1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="449530"/>
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        <balance>12495000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8680026.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DESCHUTES &amp; JEFFERSON CNTYS ORE SCHOOL DIST</name>
        <lei>N/A</lei>
        <title>DESCHUTES &amp; JEFFERSON CNTYS ORE SCHOOL DIST</title>
        <cusip>250343EX4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="306333"/>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>85272.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>OREGON ST</name>
        <lei>549300R5SUGZRD8KP359</lei>
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        <cusip>68609BNM5</cusip>
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          <other otherDesc="Internal Identifier" value="605829"/>
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        <balance>7005000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8408942.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Jackson County School District No 5 Ashland</name>
        <lei>N/A</lei>
        <title>Jackson County School District No 5 Ashland</title>
        <cusip>467736ED2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="981086"/>
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        <balance>5475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7132118.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Clackamas County School District No 12 North Clackamas</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal Identifier" value="948138"/>
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        <curCd>USD</curCd>
        <valUSD>2225790.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>TRI-CNTY OR MET TRANSN DIST</name>
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          <other otherDesc="Internal Identifier" value="529137"/>
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        <balance>11000000.00000000</balance>
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        <valUSD>12158960.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PORTLAND ORE REV</name>
        <lei>N/A</lei>
        <title>PORTLAND ORE REV</title>
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          <other otherDesc="Internal Identifier" value="505111"/>
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        <balance>8750000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2030-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Oregon City School District No 62</name>
        <lei>N/A</lei>
        <title>Oregon City School District No 62</title>
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          <other otherDesc="Internal Identifier" value="965369"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MULTNOMAH CNTY ORE SCH DIST NO 40</name>
        <lei>N/A</lei>
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        <cusip>625693GZ3</cusip>
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          <other otherDesc="Internal Identifier" value="526702"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-15</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARION CNTY OR SCH DIST NO 14J JEFFERSON</name>
        <lei>N/A</lei>
        <title>MARION CNTY OR SCH DIST NO 14J JEFFERSON</title>
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          <other otherDesc="Internal Identifier" value="670725"/>
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        <balance>1360000.00000000</balance>
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        <valUSD>1677138.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OREGON ST DEPT ADMINISTRATIVE SVCS LOTTERY REV</name>
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      <invstOrSec>
        <name>OREGON ST FACS AUTH REV</name>
        <lei>N/A</lei>
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      <invstOrSec>
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        <name>OREGON ST FACS AUTH REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CLACKAMAS COMMUNITY COLLEGE DISTRICT</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-15</maturityDt>
          <couponKind>None</couponKind>
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        <name>FOREST GROVE OR REV</name>
        <lei>N/A</lei>
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        <cusip>345648DQ9</cusip>
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          <other otherDesc="Internal Identifier" value="617273"/>
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        <fairValLevel>2</fairValLevel>
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        <name>KLAMATH CNTY OR SCH DIST</name>
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        <name>PORTLAND ORE REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Jackson County School District No 6 Central Point</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Port of Portland OR Airport Revenue</name>
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        <name>Jackson County School District No 6 Central Point</name>
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        <name>OREGON ST FACS AUTH REV</name>
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        <name>OREGON ST FACS AUTH REV</name>
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        <name>MULTNOMAH CNTY ORE SCH DIST NO 40</name>
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        <name>CLACKAMAS CNTY ORE SCH DIST NO 12 NORTH CLACKAMA</name>
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        <name>OREGON ST HSG &amp; CMNTY SVCS DEPT MTGE REVENUE</name>
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        <name>City of Portland OR Water System Revenue</name>
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          <maturityDt>2044-05-01</maturityDt>
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        <name>KLAMATH CNTY OR SCH DIST</name>
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        <name>YACHATS OR RURAL FIRE PROT DIST</name>
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        <name>PORTLAND ORE URBAN RENEWAL &amp; REDEV</name>
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        <name>OREGON ST DEPT ADMINISTRATIVE SVCS LOTTERY REV</name>
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        <name>ASTORIA OR HOSP FACS AUTH</name>
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        <name>OREGON ST FACS AUTH REV</name>
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        <name>Warm Springs Reservation Confederated Tribe</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hillsboro School District No 1J</name>
        <lei>N/A</lei>
        <title>Hillsboro School District No 1J</title>
        <cusip>939307KL7</cusip>
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          <other otherDesc="Internal Identifier" value="1042475"/>
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        <balance>5350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6527214.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>COOS CNTY ORE SCH DIST NO 13 NORTH BEND</name>
        <lei>N/A</lei>
        <title>COOS CNTY ORE SCH DIST NO 13 NORTH BEND</title>
        <cusip>217129EK7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="331991"/>
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        <curCd>USD</curCd>
        <valUSD>55172.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Puerto Rico Electric Power Authority *DEFAULT*</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>Puerto Rico Electric Power Authority *DEFAULT*</title>
        <cusip>74526QU34</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="987971"/>
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        <curCd>USD</curCd>
        <valUSD>7764112.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EUGENE ORE WTR REV</name>
        <lei>N/A</lei>
        <title>EUGENE ORE WTR REV</title>
        <cusip>298245JD4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="496102"/>
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        <balance>4425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4661516.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</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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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PORTLAND ORE URBAN RENEWAL &amp; REDEV</name>
        <lei>N/A</lei>
        <title>PORTLAND ORE URBAN RENEWAL &amp; REDEV</title>
        <cusip>736746UL0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="471291"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2528400.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MULTNOMAH CNTY ORE SCH DIST NO 40</name>
        <lei>N/A</lei>
        <title>MULTNOMAH CNTY ORE SCH DIST NO 40</title>
        <cusip>625693GY6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="526700"/>
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        <balance>2585000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2392391.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KLAMATH CNTY OR SCH DIST</name>
        <lei>N/A</lei>
        <title>KLAMATH CNTY OR SCH DIST</title>
        <cusip>498368BY4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="556341"/>
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        <balance>1155000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1303405.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Warm Springs Reservation Confederated Tribe</name>
        <lei>N/A</lei>
        <title>Warm Springs Reservation Confederated Tribe</title>
        <cusip>934312AN9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1000956"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>246284.00000000</valUSD>
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        <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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INDEPENDENCE ORE CITY HALL PROJ</name>
        <lei>N/A</lei>
        <title>INDEPENDENCE ORE CITY HALL PROJ</title>
        <cusip>453907CE5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="466234"/>
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        <balance>2110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2135488.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OREGON ST FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>OREGON ST FACS AUTH REV</title>
        <cusip>68608JNN7</cusip>
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          <other otherDesc="Internal Identifier" value="489599"/>
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        <balance>30000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32186100.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LANE &amp; DOUGLAS CNTYS ORE SCH DIST NO 28J FERN RI</name>
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        <cusip>515160CX5</cusip>
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          <other otherDesc="Internal Identifier" value="586337"/>
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        <valUSD>2622874.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON &amp; CLACKAMAS CNTYS ORE SCH DIST NO 23</name>
        <lei>N/A</lei>
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        <cusip>938395RU6</cusip>
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          <other otherDesc="Internal Identifier" value="661829"/>
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        <balance>9400000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-15</maturityDt>
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      <invstOrSec>
        <name>OREGON ST FACS AUTH REV</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal Identifier" value="458867"/>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MULTNOMAH CNTY ORE SCH DIST NO 40</name>
        <lei>N/A</lei>
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        <cusip>625693GX8</cusip>
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          <other otherDesc="Internal Identifier" value="526698"/>
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        <balance>1325000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Warm Springs Reservation Confederated Tribe</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal Identifier" value="1000957"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OREGON ST</name>
        <lei>549300R5SUGZRD8KP359</lei>
        <title>OREGON ST</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PORTLAND ORE REV</name>
        <lei>N/A</lei>
        <title>PORTLAND ORE REV</title>
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          <other otherDesc="Internal Identifier" value="217693"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>989870.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>OREGON ST FACS AUTH REV</name>
        <lei>N/A</lei>
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        <name>CROOK CNTY ORE SCH DIST</name>
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        <name>MULTNOMAH CNTY OR HOSP FACS AUTH REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Jackson County School District No 6 Central Point</name>
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        <name>CLACKAMAS CNTY ORE SCH DIST NO 12 NORTH CLACKAMA CABS</name>
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          <other otherDesc="Internal Identifier" value="659221"/>
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        <fairValLevel>2</fairValLevel>
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        <name>OREGON ST</name>
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        <name>MEDFORD ORE HOSP FACS AUTH REV</name>
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        <name>OREGON ST FACS AUTH REV</name>
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        <name>OREGON ST FACS AUTH REV</name>
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        <name>Salem Hospital Facility Authority</name>
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        <name>Santiam Canyon School District 129J</name>
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        <name>Oregon City School District No 62</name>
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        <name>Jackson County School District No 5 Ashland</name>
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          <other otherDesc="Internal Identifier" value="475312"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>OREGON HEALTH SCIENCES UNIV REV</name>
        <lei>549300XTWOAGON8L2G98</lei>
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        <cusip>685869AW9</cusip>
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          <other otherDesc="Internal Identifier" value="171269"/>
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        <curCd>USD</curCd>
        <valUSD>4343490.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>OREGON ST FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>OREGON ST FACS AUTH REV</title>
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          <other otherDesc="Internal Identifier" value="612829"/>
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        <valUSD>4744640.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Oregon State Facilities Authority DV&amp;DP</name>
        <lei>N/A</lei>
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        <cusip>68608JXD8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1042330"/>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4500000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.16000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KLAMATH FALLS ORE INTERCMNTY HOSP AUTH REV</name>
        <lei>N/A</lei>
        <title>KLAMATH FALLS ORE INTERCMNTY HOSP AUTH REV</title>
        <cusip>498413FR9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="638284"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1183080.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MULTNOMAH CNTY ORE SCH DIST NO 40</name>
        <lei>N/A</lei>
        <title>MULTNOMAH CNTY ORE SCH DIST NO 40</title>
        <cusip>625693HA7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="526703"/>
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        <balance>2495000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2219651.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON CNTY OR SCH DIST NO 48J BEAVERTON</name>
        <lei>N/A</lei>
        <title>WASHINGTON CNTY OR SCH DIST NO 48J BEAVERTON</title>
        <cusip>938429L47</cusip>
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          <other otherDesc="Internal Identifier" value="582063"/>
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        <balance>11000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12856250.00000000</valUSD>
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        <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>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON CNTY OR SCH DIST NO 48J BEAVERTON</name>
        <lei>N/A</lei>
        <title>WASHINGTON CNTY OR SCH DIST NO 48J BEAVERTON</title>
        <cusip>938429L21</cusip>
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          <other otherDesc="Internal Identifier" value="582062"/>
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        <balance>8000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9359760.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CLACKAMAS COMMUNITY COLLEGE DISTRICT</name>
        <lei>N/A</lei>
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        <cusip>179390NP0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="667404"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1522225.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Salem Hospital Facility Authority</name>
        <lei>N/A</lei>
        <title>Salem Hospital Facility Authority</title>
        <cusip>794458EY1</cusip>
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          <other otherDesc="Internal Identifier" value="933781"/>
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        <balance>3250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3809292.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARION CNTY OR SCH DIST #103 WOODBURN</name>
        <lei>N/A</lei>
        <title>MARION CNTY OR SCH DIST #103 WOODBURN</title>
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          <other otherDesc="Internal Identifier" value="610115"/>
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        <balance>2930000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3528013.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Clackamas County School District No 12 North Clackamas</name>
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          <other otherDesc="Internal Identifier" value="1005003"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CROOK CNTY ORE SCH DIST</name>
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        <title>CROOK CNTY ORE SCH DIST</title>
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          <other otherDesc="Internal Identifier" value="557305"/>
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        <balance>8090000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-06-15</maturityDt>
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      <invstOrSec>
        <name>WASHINGTON CNTY OR SCH DIST NO 48J BEAVERTON</name>
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        <title>WASHINGTON CNTY OR SCH DIST NO 48J BEAVERTON</title>
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          <other otherDesc="Internal Identifier" value="665063"/>
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        <name>OREGON ST ELDERLY &amp; DISABLED HOUSING</name>
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      <invstOrSec>
        <name>Jackson County School District No 6 Central Point</name>
        <lei>N/A</lei>
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        <name>MEDFORD ORE HOSP FACS AUTH REV</name>
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        <name>INDEPENDENCE ORE CITY HALL PROJ</name>
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        <name>MEDFORD ORE HOSP FACS AUTH REV</name>
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        <name>ASTORIA OR HOSP FACS AUTH</name>
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        <name>PORTLAND ORE REV</name>
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        <name>TIGARD WTR SYS REVENUE</name>
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        <name>WASHINGTON CNTY OR SCH DIST NO 48J BEAVERTON</name>
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        <name>CHILDRENS TR FD PR TOB SETTLEMENT REV</name>
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        <name>JEFFERSON CNTY OR SCH DIST #509</name>
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        <name>SALEM-KEIZER ORE SCH DIST NO 24J</name>
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        <name>PORT PORTLAND ORE ARPT REV</name>
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      <invstOrSec>
        <name>EUGENE ORE ELEC UTIL REV</name>
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        <name>WASHINGTON &amp; CLACKAMAS CNTYS ORE SCH DIST NO 23</name>
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        <name>CLACKAMAS CNTY ORE SCH DIST NO 007J LAKE OSWEGO</name>
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        <name>CLACKAMAS CNTY ORE SCH DIST NO 46 OREGON TRAIL</name>
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        <name>Tillamook &amp; Yamhill Counties School District No 101 Nestucca Valley</name>
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        <name>SALEM ORE HOSP FAC AUTH REV</name>
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        <name>PHILOMATH ORE SCH DIST #17J BENTON &amp; POLK CNTYS</name>
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        <name>CLACKAMAS CNTY ORE SCH DIST NO 12 NORTH CLACKAMA</name>
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        <name>OREGON ST</name>
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        <name>PORT PORTLAND ORE ARPT REV</name>
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        <name>Jackson County School District No 5 Ashland</name>
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        <name>OREGON ST FACS AUTH REV</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>MET OR DEDICATED TAX REVENUE</name>
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      <invstOrSec>
        <name>JEFFERSON CNTY OR SCH DIST #509</name>
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      <invstOrSec>
        <name>LANE &amp; DOUGLAS CNTYS ORE SCH DIST NO 28J FERN RI</name>
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      <invstOrSec>
        <name>State of Oregon Department of Transportation</name>
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          <other otherDesc="Internal Identifier" value="1020109"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Jackson County School District No 6 Central Point</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Jackson County School District No 6 Central Point</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal Identifier" value="993754"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-15</maturityDt>
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      <invstOrSec>
        <name>MET OR DEDICATED TAX REVENUE</name>
        <lei>N/A</lei>
        <title>MET OR DEDICATED TAX REVENUE</title>
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          <other otherDesc="Internal Identifier" value="671441"/>
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        <balance>10950000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CLACKAMAS CNTY ORE SCH DIST NO 12 NORTH CLACKAMA</name>
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          <other otherDesc="Internal Identifier" value="659217"/>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>COOS CNTY OR SCH DIST #9 COOS BAY</name>
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          <other otherDesc="Internal Identifier" value="868479"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TIGARD WTR SYS REVENUE</name>
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        <name>CLATSOP CNTY OR SCH DIST #10 SEASIDE</name>
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        <name>PORTLAND ORE REV</name>
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        <name>LANE &amp; DOUGLAS CNTYS ORE SCH DIST NO 28J FERN RI</name>
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        <name>MULTNOMAH CNTY ORE SCH DIST NO 40</name>
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        <name>Oregon City School District No 62</name>
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        <name>Jackson County School District No 6 Central Point</name>
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      <invstOrSec>
        <name>ASTORIA OR HOSP FACS AUTH</name>
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      <invstOrSec>
        <name>Jackson County School District No 6 Central Point</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>WASHINGTON CNTY ORE SCH DIST #15 FOREST GROVE</name>
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        <title>WASHINGTON CNTY ORE SCH DIST #15 FOREST GROVE</title>
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          <other otherDesc="Internal Identifier" value="514413"/>
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      <invstOrSec>
        <name>CENTRAL LINCOLN OR PEOPLES UTILITY DIST ELEC REV</name>
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          <other otherDesc="Internal Identifier" value="629791"/>
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      <invstOrSec>
        <name>MARION CNTY OR SCH DIST #103 WOODBURN</name>
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          <other otherDesc="Internal Identifier" value="609342"/>
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      <invstOrSec>
        <name>PORTLAND ORE URBAN RENEWAL &amp; REDEV</name>
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          <other otherDesc="Internal Identifier" value="471288"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Jackson County School District No 6 Central Point</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal Identifier" value="993755"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-06-15</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>UMATILLA CNTY OR SCH DIST #16R PENDLETON</name>
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          <other otherDesc="Internal Identifier" value="590110"/>
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      <invstOrSec>
        <name>OREGON ST FACS AUTH REV</name>
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          <other otherDesc="Internal Identifier" value="463892"/>
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        <name>Multnomah &amp; Clackamas Counties School District No 10JT Gresham-Barlow</name>
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          <other otherDesc="Internal Identifier" value="975874"/>
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        <name>CLACKAMAS CNTY ORE SCH DIST NO 12 NORTH CLACKAMA CABS</name>
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      <invstOrSec>
        <name>Oregon City School District No 62</name>
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          <other otherDesc="Internal Identifier" value="965370"/>
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        <name>FOREST GROVE OR REV</name>
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          <other otherDesc="Internal Identifier" value="664256"/>
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        <name>TRI-CNTY OR MET TRANSN DIST</name>
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        <name>Oregon City School District No 62</name>
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        <name>CLATSOP CNTY OR SCH DIST #10 SEASIDE</name>
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        <name>OREGON ST FACS AUTH REV</name>
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        <curCd>USD</curCd>
        <valUSD>9522160.00000000</valUSD>
        <pctVal>0.720676243716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PORTLAND ORE URBAN RENEWAL &amp; REDEV</name>
        <lei>N/A</lei>
        <title>PORTLAND ORE URBAN RENEWAL &amp; REDEV</title>
        <cusip>736746XE3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="500220"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1049160.00000000</valUSD>
        <pctVal>0.079404745126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</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>2020-03-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Robert Kubilis</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>
</edgarSubmission>
