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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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          <annualizedRt>5.00000000</annualizedRt>
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          <maturityDt>2044-11-01</maturityDt>
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        <name>City of Detroit MI</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Illinois Finance Authority</name>
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        <name>Farmville Industrial Development Authority</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical and Environmental Control Facilities Financing Authority Revenue</name>
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        <invCountry>PR</invCountry>
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        <name>Tobacco Settlement Financing Corp.</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>River Landing Community Development District</name>
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        <name>East Bonita Beach Road Community Development District</name>
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        <name>Louisiana Local Government Environmental Facilities &amp; Community Development Auth</name>
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        <name>George L Smith II Congress Center Authority</name>
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          <maturityDt>2031-05-01</maturityDt>
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        <name>Northwood Municipal Utility District No. 1</name>
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        <name>Epperson North Community Development District</name>
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        <name>County of Clark NV</name>
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        <curCd>USD</curCd>
        <valUSD>2477175.18000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-01</maturityDt>
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      <invstOrSec>
        <name>North Powerline Road Community Development District</name>
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        <valUSD>1029971.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-05-01</maturityDt>
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        <name>Washington Convention &amp; Sports Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-10-01</maturityDt>
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        <name>Mississippi Hospital Equipment &amp; Facilities Authority</name>
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        <name>Central Texas Regional Mobility Authority</name>
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          <maturityDt>2035-01-01</maturityDt>
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        <name>New Jersey Economic Development Authority</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>Palmdale Elementary School District</name>
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        <name>Sandridge Community Development District</name>
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        <name>Hills Minneola Community Development District</name>
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        <name>Baldwin County Hospital Authority</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>District of Columbia Tobacco Settlement Financing Corp.</name>
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        <name>Lower Petroglyphs Public Improvement District</name>
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        <name>Michigan Finance Authority</name>
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        <name>Hospital Facilities Authority of Multnomah County Oregon</name>
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        <name>California Pollution Control Financing Authority</name>
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          <maturityDt>2040-12-01</maturityDt>
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        <name>Windward Community Development District</name>
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          <maturityDt>2035-11-01</maturityDt>
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        <name>Pine Ridge Plantation Community Development District</name>
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        <name>North Springs Improvement District</name>
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        <invCountry>PR</invCountry>
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        <name>New York Transportation Development Corp.</name>
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        <name>Rhode Island Health and Educational Building Corp.</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>Iowa Tobacco Settlement Authority</name>
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        <name>Kentucky Public Transportation Infrastructure Authority</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>New Hope Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Summer Woods Community Development District</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>200422.46000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13058BAD1</cusip>
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          <isin value="US13058BAD10"/>
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        <balance>2900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2436000.00000000</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>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Royse City TX</name>
        <lei>N/A</lei>
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          <isin value="US780870BC41"/>
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        <balance>1780000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1866755.06000000</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>2050-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
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          <isin value="US546399KA31"/>
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        <curCd>USD</curCd>
        <valUSD>5172768.90000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Lowndes MS</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>19816953.10000000</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>2022-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Midlothian TX</name>
        <lei>N/A</lei>
        <title>City of Midlothian</title>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>232647.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>CSCDA Community Improvement Authority</name>
        <lei>N/A</lei>
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          <isin value="US126292AF86"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9967933.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lakes of Sarasota Community Development District</name>
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        <title>Lakes of Sarasota Community Development District</title>
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          <isin value="US51206YAJ91"/>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>331304.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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        <name>State of Ohio</name>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lakes of Sarasota Community Development District</name>
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        <balance>285000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-05-01</maturityDt>
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      <invstOrSec>
        <name>Main Street Natural Gas, Inc.</name>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>City of Liberty Hill TX</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2054-09-01</maturityDt>
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        <name>Villamar Community Development District</name>
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        <name>Public Building Authority of Sevier County TN (The)</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Rivers Edge II Community Development District</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>County of Hays TX</name>
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          <maturityDt>2048-12-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>Chaparral Palm Bay Community Development District</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>Orange County Health Facilities Authority</name>
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        <name>Florida Development Finance Corp.</name>
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        <name>City of Princeton TX</name>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-07-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-05-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Colorado Health Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pennsylvania Turnpike Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.01000100</annualizedRt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Washington Economic Development Finance Authority</name>
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        <curCd>USD</curCd>
        <valUSD>1900000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Cleveland-Cuyahoga County Port Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Washington State Housing Finance Commission</name>
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        <name>New Jersey Economic Development Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Electric Power Authority</name>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
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        <name>Clackamas County Hospital Facility Authority</name>
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      <invstOrSec>
        <name>Hammock Reserve Community Development District</name>
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        <name>State of Illinois</name>
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          <maturityDt>2046-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Edgewater East Community Development District</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-01</maturityDt>
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          <annualizedRt>3.60000000</annualizedRt>
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      <invstOrSec>
        <name>Main Street Natural Gas, Inc.</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>East Hempfield Township Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-15</maturityDt>
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        <name>VanEck Vectors High Yield Muni ETF</name>
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        <name>Rivers Edge III Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Harris County Cultural Education Facilities Finance Corp.</name>
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        <name>Louisiana Local Government Environmental Facilities &amp; Community Development Auth</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Cypress Bluff Community Development District</name>
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        <name>Metropolitan Transportation Authority</name>
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        <name>West Villages Improvement District</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <invCountry>US</invCountry>
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        <name>Tobacco Settlement Financing Corp.</name>
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        <name>Greater Wenatchee Regional Events Center Public Facilities Dist</name>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>North Carolina Medical Care Commission</name>
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        <name>Marshall Creek Community Development District</name>
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        <name>Eden Hills Community Development District</name>
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        <name>Florida Development Finance Corp.</name>
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        <name>River Landing Community Development District</name>
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        <name>Village at Dry Creek Metropolitan District No. 2 (The)</name>
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        <name>Golden State Tobacco Securitization Corp.</name>
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        <name>Silicon Valley Tobacco Securitization Authority</name>
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      <invstOrSec>
        <name>Main Street Natural Gas, Inc.</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp.</title>
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          <isin value="US34061WAY03"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Northern Palm Beach County Improvement District</name>
        <lei>N/A</lei>
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          <isin value="US665588QR35"/>
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        <balance>6000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-08-01</maturityDt>
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          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
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        <title>New Jersey Transportation Trust Fund Authority</title>
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          <isin value="US6461366L09"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1731367.35000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sandridge Community Development District</name>
        <lei>N/A</lei>
        <title>Sandridge Community Development District</title>
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          <isin value="US80007LAC28"/>
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        <balance>740000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>753727.74000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-05-01</maturityDt>
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          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>Oregon State Facilities Authority</name>
        <lei>N/A</lei>
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          <isin value="US68608JXF38"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-01</maturityDt>
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          <annualizedRt>0.01999835</annualizedRt>
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      <invstOrSec>
        <name>Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF</name>
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        <title>Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF</title>
        <cusip>35473P868</cusip>
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          <isin value="US35473P8683"/>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Central Texas Regional Mobility Authority</name>
        <lei>N/A</lei>
        <title>Central Texas Regional Mobility Authority</title>
        <cusip>155498BG2</cusip>
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          <isin value="US155498BG28"/>
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        <curCd>USD</curCd>
        <valUSD>1626949.55000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <title>Buckeye Tobacco Settlement Financing Authority</title>
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          <isin value="US118217CZ97"/>
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        <curCd>USD</curCd>
        <valUSD>24315019.15000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>San Joaquin Hills Transportation Corridor Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pinellas County Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Community Housing Agency</name>
        <lei>N/A</lei>
        <title>California Community Housing Agency</title>
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          <isin value="US13013HAA86"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2049-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-01-01</maturityDt>
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        <name>Indiana Finance Authority</name>
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        <name>South Carolina Public Service Authority</name>
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        <name>Lakewood Ranch Stewardship District</name>
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        <invCountry>US</invCountry>
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        <name>Veranda Community Development District II</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2051-05-01</maturityDt>
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        <name>CSCDA Community Improvement Authority</name>
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      <invstOrSec>
        <name>City of Anderson IN</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Southglenn Metropolitan District</name>
        <lei>549300ETN4YRI5O2PU39</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <valUSD>5580315.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
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          <isin value="US45204FGD15"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-11-01</maturityDt>
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          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>North AR-1 Pasco Community Development District</name>
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        <title>North AR-1 Pasco Community Development District</title>
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          <isin value="US65725AAB08"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
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      <invstOrSec>
        <name>V-Dana Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-05-01</maturityDt>
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      <invstOrSec>
        <name>Palm Beach County Health Facilities Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>West Villages Improvement District</name>
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          <isin value="US956454BZ44"/>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Hutto TX</name>
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          <maturityDt>2031-09-01</maturityDt>
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        <name>Foothill-Eastern Transportation Corridor Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Northern Palm Beach County Improvement District</name>
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        <name>North Carolina Medical Care Commission</name>
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        <name>State of Illinois</name>
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        <name>New York Liberty Development Corp.</name>
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          <maturityDt>2040-11-15</maturityDt>
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        <name>Florida Development Finance Corp.</name>
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        <valUSD>5661605.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rivers Edge III Community Development District</name>
        <lei>N/A</lei>
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          <isin value="US76882NAD49"/>
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        <fairValLevel>2</fairValLevel>
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        <name>North Carolina Medical Care Commission</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Industrial Development Authority of the County of Pima (The)</name>
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        <curCd>USD</curCd>
        <valUSD>5550242.94000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Little Miami Local School District</name>
        <lei>N/A</lei>
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          <isin value="US537292LL67"/>
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        <balance>5100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5100000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-12-01</maturityDt>
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        <name>Washington Health Care Facilities Authority</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Brighton Crossing Metropolitan District No. 4</name>
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        <curCd>USD</curCd>
        <valUSD>2579388.90000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Six Mile Creek Community Development District</name>
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          <isin value="US83005TAU16"/>
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        <valUSD>359373.91000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-01</maturityDt>
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        <name>Michigan Finance Authority</name>
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        <title>Michigan Finance Authority</title>
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          <isin value="US59447PZQ70"/>
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        <balance>3000000.00000000</balance>
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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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        <name>Tahoe-Douglas Visitors Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-07-01</maturityDt>
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        <name>Public Finance Authority</name>
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          <isin value="US74442ECT55"/>
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        <balance>4345000.00000000</balance>
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        <valUSD>4876766.74000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Forsyth County Hospital Authority</name>
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        <name>Trevesta Community Development District</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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      <invstOrSec>
        <name>California Pollution Control Financing Authority</name>
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        <invCountry>US</invCountry>
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        <name>Salt Verde Financial Corp.</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2025-12-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Antonio B Won Pat International Airport Authority</name>
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        <name>Rockland Tobacco Asset Securitization Corp.</name>
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        <name>Harris County-Houston Sports Authority</name>
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        <name>Collier County Educational Facilities Authority</name>
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      <invstOrSec>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>Jefferson Center Metropolitan District No. 1</name>
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        <name>Riverside County Transportation Commission</name>
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        <name>Washington State Housing Finance Commission</name>
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        <name>New Jersey Economic Development Authority</name>
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        <name>Municipal Electric Authority of Georgia</name>
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        <name>Astonia Community Development District</name>
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        <name>Jefferson Center Metropolitan District No. 1</name>
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          <maturityDt>2047-12-01</maturityDt>
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        <name>City of Princeton TX</name>
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        <name>New Jersey Economic Development Authority</name>
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        <name>Harris County Cultural Education Facilities Finance Corp.</name>
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        <name>North Carolina Medical Care Commission</name>
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        <name>Village Community Development District No. 10</name>
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        <name>Ohio Higher Educational Facility Commission</name>
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        <name>District of Columbia Tobacco Settlement Financing Corp.</name>
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        <name>Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-05-01</maturityDt>
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        <name>Salem Hospital Facility Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-15</maturityDt>
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        <name>North River Ranch Community Development District</name>
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        <name>New Hampshire Business Finance Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Miami-Dade County Educational Facilities Authority</name>
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        <title>Miami-Dade County Educational Facilities Authority</title>
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        <balance>10995000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>City of Tampa FL</name>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>862934.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>Harris County Cultural Education Facilities Finance Corp.</name>
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          <isin value="US414009LE88"/>
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        <name>Berry Bay Community Development District</name>
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        <name>Washington State Housing Finance Commission</name>
        <lei>549300YL1HU59NREG764</lei>
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        <name>City of Midlothian TX</name>
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          <maturityDt>2041-09-15</maturityDt>
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      <invstOrSec>
        <name>Michigan Tobacco Settlement Finance Authority</name>
        <lei>N/A</lei>
        <title>Michigan Tobacco Settlement Finance Authority</title>
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          <isin value="US594751AH20"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Mesquite Health Facilities Development Corp.</name>
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          <maturityDt>2042-02-15</maturityDt>
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      <invstOrSec>
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      <invstOrSec>
        <name>Mesquite Health Facilities Development Corp.</name>
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      <invstOrSec>
        <name>Boggy Branch Community Development District</name>
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      <invstOrSec>
        <name>Holly Hill Road East Community Development District</name>
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      <invstOrSec>
        <name>Mississippi Development Bank</name>
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      <invstOrSec>
        <name>Preserve at South Branch Community Development District</name>
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          <maturityDt>2031-05-01</maturityDt>
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        <name>V-Dana Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-05-01</maturityDt>
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      <invstOrSec>
        <name>Red River Health Facilities Development Corp.</name>
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          <isin value="US75687RAG74"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Detroit MI</name>
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        <name>Lower Petroglyphs Public Improvement District</name>
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        <name>Virginia Small Business Financing Authority</name>
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        <name>Polk County Hospital Facility Authority</name>
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        <name>STC Metropolitan District No. 2</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>City of Kaufman TX</name>
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        <name>Kingman Gate Community Development District</name>
        <lei>N/A</lei>
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          <maturityDt>2026-06-15</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
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        <name>Franklin County Industrial Development Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Capital Trust Agency, Inc.</name>
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          <isin value="US14052WDQ78"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-07-01</maturityDt>
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      <invstOrSec>
        <name>Bent Grass Metropolitan District</name>
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          <isin value="US082623AA78"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Allison Valley Metropolitan District No. 2</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Indigo Community Development District</name>
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          <isin value="US45567RAC43"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
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      <invstOrSec>
        <name>Louisiana Local Government Environmental Facilities &amp; Community Development Auth</name>
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          <isin value="US546276DA12"/>
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        <balance>2970000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Cedar Bayou Navigation District</name>
        <lei>N/A</lei>
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          <isin value="US15005CAB28"/>
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        <balance>7500000.00000000</balance>
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        <valUSD>7877898.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-09-15</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Port Tampa Bay Community Development District</name>
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          <isin value="US648149AD45"/>
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        <balance>500000.00000000</balance>
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        <valUSD>510842.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
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      <invstOrSec>
        <name>Novato Redevelopment Agency Successor Agency</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kalamazoo Economic Development Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-05-15</maturityDt>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Virginia Small Business Financing Authority</name>
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        <name>Washington Health Care Facilities Authority</name>
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        <name>North AR-1 Pasco Community Development District</name>
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        <name>Storey Park Community Development District</name>
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        <name>North AR-1 Pasco Community Development District</name>
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        <name>Selma Industrial Development Board</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>Shingle Creek at Bronson Community Development District</name>
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        <name>Preserve at South Branch Community Development District</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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      <invstOrSec>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Detroit MI Sewage Disposal System Revenue</name>
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        <curCd>USD</curCd>
        <valUSD>6158319.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>City of Kaufman TX</name>
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        <curCd>USD</curCd>
        <valUSD>450809.04000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-15</maturityDt>
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        <name>DW Bayview Community Development District</name>
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        <invCountry>US</invCountry>
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        <name>Lakewood Ranch Stewardship District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-05-01</maturityDt>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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      <invstOrSec>
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        <title>New Jersey Economic Development Authority</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
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      <invstOrSec>
        <name>Yamhill County Hospital Authority</name>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Public Finance Authority</name>
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          <isin value="US74444VAC46"/>
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        <balance>625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>687974.13000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Veranda Community Development District II</name>
        <lei>N/A</lei>
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          <isin value="US92338HAR30"/>
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        <curCd>USD</curCd>
        <valUSD>1045824.60000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Franklin County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Franklin County Industrial Development Authority</title>
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          <isin value="US353273BW46"/>
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        <curCd>USD</curCd>
        <valUSD>1090220.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Towne Park Community Development District</name>
        <lei>N/A</lei>
        <title>Towne Park Community Development District</title>
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          <isin value="US89215RAW43"/>
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        <balance>410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>422722.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Johnson City Health &amp; Educational Facilities Board</name>
        <lei>N/A</lei>
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          <isin value="US478271EB11"/>
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        <balance>19365000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17544198.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Prairie Center Metropolitan District No. 7</name>
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          <isin value="US739491AB48"/>
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        <balance>725000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>787776.30000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-15</maturityDt>
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      <invstOrSec>
        <name>Sandridge Community Development District</name>
        <lei>N/A</lei>
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          <isin value="US80007LAD01"/>
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        <valUSD>745206.95000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-01</maturityDt>
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        <name>Hammock Reserve Community Development District</name>
        <lei>N/A</lei>
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          <isin value="US408348AG57"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
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          <annualizedRt>4.32900000</annualizedRt>
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      <invstOrSec>
        <name>Central Texas Regional Mobility Authority</name>
        <lei>N/A</lei>
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          <isin value="US155498BH01"/>
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        <debtSec>
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          <couponKind>None</couponKind>
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        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
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          <isin value="US74444VAW00"/>
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      <invstOrSec>
        <name>City of Celina TX</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2031-09-01</maturityDt>
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        <name>Illinois Finance Authority</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2032-09-01</maturityDt>
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      <invstOrSec>
        <name>New Hope Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2054-12-01</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
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        <valUSD>1736642.25000000</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>2049-12-01</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>Cape Coral Health Facilities Authority</name>
        <lei>N/A</lei>
        <title>Cape Coral Health Facilities Authority</title>
        <cusip>13937TCH8</cusip>
        <identifiers>
          <isin value="US13937TCH86"/>
          <other otherDesc="Inhouse Asset ID" value="610137"/>
        </identifiers>
        <balance>5250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5631299.10000000</valUSD>
        <pctVal>0.081409619187</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>George L Smith II Congress Center Authority</name>
        <lei>N/A</lei>
        <title>George L Smith II Congress Center Authority</title>
        <cusip>37255MAF2</cusip>
        <identifiers>
          <isin value="US37255MAF23"/>
          <other otherDesc="Inhouse Asset ID" value="1140186"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11854044.00000000</valUSD>
        <pctVal>0.171369552697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
        <cusip>59261AH91</cusip>
        <identifiers>
          <isin value="US59261AH912"/>
          <other otherDesc="Inhouse Asset ID" value="1109842"/>
        </identifiers>
        <balance>40000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>45810228.00000000</valUSD>
        <pctVal>0.662261611424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-15</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>Cape Girardeau County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Cape Girardeau County Industrial Development Authority</title>
        <cusip>139404GP6</cusip>
        <identifiers>
          <isin value="US139404GP60"/>
          <other otherDesc="Inhouse Asset ID" value="1089874"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300142.93000000</valUSD>
        <pctVal>0.004339055908</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</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>Baseline Metropolitan District No. 1</name>
        <lei>N/A</lei>
        <title>Baseline Metropolitan District No. 1</title>
        <cusip>069826AC9</cusip>
        <identifiers>
          <isin value="US069826AC94"/>
          <other otherDesc="Inhouse Asset ID" value="1148666"/>
        </identifiers>
        <balance>2190000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2192899.56000000</valUSD>
        <pctVal>0.031701942114</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of San Buenaventura CA</name>
        <lei>N/A</lei>
        <title>City of San Buenaventura</title>
        <cusip>797049AH6</cusip>
        <identifiers>
          <isin value="US797049AH62"/>
          <other otherDesc="Inhouse Asset ID" value="500237"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10380741.00000000</valUSD>
        <pctVal>0.150070553293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</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>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority</title>
        <cusip>45204FGC3</cusip>
        <identifiers>
          <isin value="US45204FGC32"/>
          <other otherDesc="Inhouse Asset ID" value="1129346"/>
        </identifiers>
        <balance>13560000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14093179.20000000</valUSD>
        <pctVal>0.203739906448</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</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>Allentown Neighborhood Improvement Zone Development Authority</name>
        <lei>N/A</lei>
        <title>Allentown Neighborhood Improvement Zone Development Authority</title>
        <cusip>018444BF5</cusip>
        <identifiers>
          <isin value="US018444BF57"/>
          <other otherDesc="Inhouse Asset ID" value="952318"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5910897.50000000</valUSD>
        <pctVal>0.085451670384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</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>Edgewater East Community Development District</name>
        <lei>N/A</lei>
        <title>Edgewater East Community Development District</title>
        <cusip>280286AA3</cusip>
        <identifiers>
          <isin value="US280286AA35"/>
          <other otherDesc="Inhouse Asset ID" value="1135458"/>
        </identifiers>
        <balance>525000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>531012.88000000</valUSD>
        <pctVal>0.007676657832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>County of Medina TX</name>
        <lei>N/A</lei>
        <title>County of Medina</title>
        <cusip>584735AF1</cusip>
        <identifiers>
          <isin value="US584735AF16"/>
          <other otherDesc="Inhouse Asset ID" value="1137930"/>
        </identifiers>
        <balance>780000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>791049.95000000</valUSD>
        <pctVal>0.011435918079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>Salem Hospital Facility Authority</name>
        <lei>N/A</lei>
        <title>Salem Hospital Facility Authority</title>
        <cusip>794458DG1</cusip>
        <identifiers>
          <isin value="US794458DG12"/>
          <other otherDesc="Inhouse Asset ID" value="522610"/>
        </identifiers>
        <balance>215000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>222987.14000000</valUSD>
        <pctVal>0.003223643040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-15</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>
      <invstOrSec>
        <name>Kalamazoo Economic Development Corp.</name>
        <lei>N/A</lei>
        <title>Kalamazoo Economic Development Corp.</title>
        <cusip>483228DX7</cusip>
        <identifiers>
          <isin value="US483228DX77"/>
          <other otherDesc="Inhouse Asset ID" value="1110656"/>
        </identifiers>
        <balance>1120000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1275370.54000000</valUSD>
        <pctVal>0.018437562654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-15</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>
      <invstOrSec>
        <name>DW Bayview Community Development District</name>
        <lei>N/A</lei>
        <title>DW Bayview Community Development District</title>
        <cusip>23342SAA5</cusip>
        <identifiers>
          <isin value="US23342SAA50"/>
          <other otherDesc="Inhouse Asset ID" value="1133271"/>
        </identifiers>
        <balance>410000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>412102.73000000</valUSD>
        <pctVal>0.005957617544</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>2.37500000</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>2021-06-30</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>
