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      <invstOrSec>
        <name>Mount San Antonio Community College District</name>
        <lei>N/A</lei>
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          <isin value="US623040JG87"/>
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        <curCd>USD</curCd>
        <valUSD>881415.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Juan Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US798306XW13"/>
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        <curCd>USD</curCd>
        <valUSD>3336928.00000000</valUSD>
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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>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chino Valley Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US169583GW53"/>
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        <curCd>USD</curCd>
        <valUSD>858188.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Dana Point CA</name>
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          <isin value="US235839DL84"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>729276.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>City of San Luis Obispo CA Community Facilities District No 2019-1</name>
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        <cusip>798601AE0</cusip>
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          <isin value="US798601AE06"/>
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        <curCd>USD</curCd>
        <valUSD>149108.70000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Paramount Unified School District</name>
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          <isin value="US699211NY09"/>
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        <curCd>USD</curCd>
        <valUSD>182574.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-01</maturityDt>
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      <invstOrSec>
        <name>Santa Rosa High School District</name>
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          <isin value="US802615K456"/>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>221823.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>1.93200000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <cusip>13048VTZ1</cusip>
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          <isin value="US13048VTZ12"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1213150.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Old Adobe Union School District</name>
        <lei>N/A</lei>
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        <cusip>679502JB1</cusip>
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          <isin value="US679502JB10"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>238596.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
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        <cusip>130179TC8</cusip>
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          <isin value="US130179TC88"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>596233.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US13049YEZ07"/>
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        <curCd>USD</curCd>
        <valUSD>474682.50000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Carlsbad Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US142665GQ59"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>446128.00000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2037-08-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Modesto Irrigation District</name>
        <lei>S6U6XLZ7IOWYIG8C8H50</lei>
        <title>MODESTO CA IRR DIST ELEC REVENUE</title>
        <cusip>607763EQ8</cusip>
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          <isin value="US607763EQ88"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2021-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Mojave Unified School District School Facilities Improvement District No 1</name>
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          <isin value="US608406GK42"/>
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        <balance>500000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2037-08-01</maturityDt>
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      <invstOrSec>
        <name>City of Irvine CA</name>
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        <title>IRVINE CA SPL TAX</title>
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          <isin value="US46360TDA88"/>
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        <balance>545000.00000000</balance>
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      <invstOrSec>
        <name>West Sonoma County Union High School District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2043-08-01</maturityDt>
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      <invstOrSec>
        <name>Lodi Unified School District/CA</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2021-08-01</maturityDt>
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      <invstOrSec>
        <name>Westminster School District</name>
        <lei>N/A</lei>
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        <balance>1000000.00000000</balance>
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        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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          <isin value="US544445TZ24"/>
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        <curCd>USD</curCd>
        <valUSD>871902.00000000</valUSD>
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          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST</title>
        <cusip>13063C6Z8</cusip>
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          <isin value="US13063C6Z86"/>
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        <curCd>USD</curCd>
        <valUSD>327110.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>J PAUL GETTY TRUST</name>
        <lei>72TDDU3K225INPK3EI14</lei>
        <title>J Paul Getty Trust/The</title>
        <cusip>374288AB4</cusip>
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          <isin value="US374288AB41"/>
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        <curCd>USD</curCd>
        <valUSD>2990674.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.39100000</annualizedRt>
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      <invstOrSec>
        <name>Washington Unified School District/Fresno County CA</name>
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          <isin value="US937414DA57"/>
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        <curCd>USD</curCd>
        <valUSD>335410.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Francisco Bay Area Rapid Transit District</name>
        <lei>549300Y3C3QUMLE3FY58</lei>
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        <cusip>797661ZM0</cusip>
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        <curCd>USD</curCd>
        <valUSD>1475640.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Washington Unified School District/Fresno County CA</name>
        <lei>N/A</lei>
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          <isin value="US937414CZ18"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>294592.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Glendale Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US378460ZW22"/>
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        <balance>2400000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13059TFF1</cusip>
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          <isin value="US13059TFF12"/>
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        <balance>380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>468954.20000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Glendale Unified School District/CA</name>
        <lei>N/A</lei>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Francisco Bay Area Rapid Transit District</name>
        <lei>549300Y3C3QUMLE3FY58</lei>
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          <isin value="US797661XY61"/>
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        <name>Albany Unified School District</name>
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        <name>Morongo Band of Mission Indians/The</name>
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        <name>Byron Union School District</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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      <invstOrSec>
        <name>State of California</name>
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      <invstOrSec>
        <name>Mount San Jacinto Community College District</name>
        <lei>N/A</lei>
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          <isin value="US623053CL73"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Mateo Foster City School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US799055SG45"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US13049YFC03"/>
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        <curCd>USD</curCd>
        <valUSD>536832.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US376087HA35"/>
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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>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Francisco City &amp; County Public Utilities Commission Wastewater Revenue</name>
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          <isin value="US79768HET14"/>
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        <curCd>USD</curCd>
        <valUSD>4839328.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Independent Cities Finance Authority</name>
        <lei>549300ZZZYTBUL6FR983</lei>
        <title>INDEP CITIES CA FIN AUTH MOBILE HOME PARK REVENUE</title>
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          <isin value="US45385LMQ31"/>
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        <curCd>USD</curCd>
        <valUSD>2446480.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Manteca Unified School District</name>
        <lei>N/A</lei>
        <title>MANTECA CA UNIF SCH DIST</title>
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          <isin value="US564538FP69"/>
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        <curCd>USD</curCd>
        <valUSD>215782.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Liberty Union High School District</name>
        <lei>N/A</lei>
        <title>LIBERTY CA UNION HIGH SCH DIST</title>
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          <isin value="US530319SA18"/>
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        <balance>810000.00000000</balance>
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        <valUSD>894345.30000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Fontana CA</name>
        <lei>N/A</lei>
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          <isin value="US344630YV47"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>115964.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US376087HH87"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>874320.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>State of California Department of Water Resources</name>
        <lei>549300X618YEC5LGBQ98</lei>
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        <valUSD>2500600.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>1.05100000</annualizedRt>
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      <invstOrSec>
        <name>Santa Rosa Elementary School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <invCountry>PR</invCountry>
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          <maturityDt>2022-07-01</maturityDt>
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      <invstOrSec>
        <name>Santa Rosa High School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Norman Y Mineta San Jose International Airport SJC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>City of Dana Point CA</name>
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      <invstOrSec>
        <name>Byron Union School District</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-08-01</maturityDt>
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          <annualizedRt>2.10000000</annualizedRt>
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      <invstOrSec>
        <name>Fresno Unified School District</name>
        <lei>549300WL4QIP65TFU882</lei>
        <title>FRESNO CA UNIF SCH DIST</title>
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        <name>University of California</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Sonoma Valley Unified School District</name>
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        <name>Ohlone Community College District</name>
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          <maturityDt>2030-08-01</maturityDt>
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      <invstOrSec>
        <name>Old Adobe Union School District</name>
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          <isin value="US679502JK19"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Santa Rosa Elementary School District</name>
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          <isin value="US802598PN60"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
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      <invstOrSec>
        <name>California Enterprise Development Authority</name>
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          <isin value="US13067RCB78"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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          <isin value="US13048TKF92"/>
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        <valUSD>972115.20000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US376087GX47"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>300832.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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          <maturityDt>2025-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Liberty Union High School District</name>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Folsom Ranch Financing Authority</name>
        <lei>N/A</lei>
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        <cusip>344414DX2</cusip>
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          <isin value="US344414DX26"/>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US13059TGR41"/>
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        <name>City of Downey CA</name>
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        <name>City of San Luis Obispo CA Community Facilities District No 2019-1</name>
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        <name>Gilroy Unified School District</name>
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        <name>Geyserville Unified School District</name>
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      <invstOrSec>
        <name>San Mateo Foster City School District/CA</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mendocino Unified School District</name>
        <lei>N/A</lei>
        <title>MENDOCINO CA UNIF SCH DIST</title>
        <cusip>586596CK2</cusip>
        <identifiers>
          <isin value="US586596CK28"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>585895.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Beverly Hills Public Financing Authority</name>
        <lei>N/A</lei>
        <title>BEVERLY HILLS CA PUBLIC FING AUTH WTR REVENUE</title>
        <cusip>088013FB8</cusip>
        <identifiers>
          <isin value="US088013FB85"/>
        </identifiers>
        <balance>1080000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1316638.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin-Mckinley School District</name>
        <lei>N/A</lei>
        <title>FRANKLIN-MCKINLEY CA SCH DIST</title>
        <cusip>3538562H9</cusip>
        <identifiers>
          <isin value="US3538562H96"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117382.00000000</valUSD>
        <pctVal>0.016125100344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Whittier Union High School District</name>
        <lei>N/A</lei>
        <title>WHITTIER CA UNION HIGH SCH DIST</title>
        <cusip>966782SC9</cusip>
        <identifiers>
          <isin value="US966782SC93"/>
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        <balance>380000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>381501.00000000</valUSD>
        <pctVal>0.052407881161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sonoma Valley Unified School District</name>
        <lei>N/A</lei>
        <title>SONOMA VLY CA UNIF SCH DIST</title>
        <cusip>835631PS5</cusip>
        <identifiers>
          <isin value="US835631PS56"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1177810.00000000</valUSD>
        <pctVal>0.161799121130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Simi Valley Unified School District</name>
        <lei>N/A</lei>
        <title>SIMI VLY CA UNIF SCH DIST</title>
        <cusip>828641YG9</cusip>
        <identifiers>
          <isin value="US828641YG94"/>
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        <balance>375000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>445462.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST</title>
        <cusip>13063DST6</cusip>
        <identifiers>
          <isin value="US13063DST62"/>
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        <balance>1270000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1294358.60000000</valUSD>
        <pctVal>0.177809734938</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Porterville Unified School District</name>
        <lei>N/A</lei>
        <title>PORTERVILLE CA UNI SCH DIST</title>
        <cusip>73759RBV1</cusip>
        <identifiers>
          <isin value="US73759RBV15"/>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>262121.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ohlone Community College District</name>
        <lei>N/A</lei>
        <title>OHLONE CA CMNTY CLG DIST</title>
        <cusip>677765HF9</cusip>
        <identifiers>
          <isin value="US677765HF97"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>305568.00000000</valUSD>
        <pctVal>0.041976748240</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.04300000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Albany Unified School District</name>
        <lei>N/A</lei>
        <title>ALBANY CA UNIF SCH DIST</title>
        <cusip>012104TA3</cusip>
        <identifiers>
          <isin value="US012104TA31"/>
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        <balance>340000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>414769.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Compton Community College District</name>
        <lei>N/A</lei>
        <title>COMPTON CA CMNTY CLG DIST</title>
        <cusip>204709HF9</cusip>
        <identifiers>
          <isin value="US204709HF99"/>
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        <balance>1690000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2029690.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Baldwin Park Unified School District</name>
        <lei>N/A</lei>
        <title>BALDWIN PARK CA UNIF SCH DIST</title>
        <cusip>058219VJ2</cusip>
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          <isin value="US058219VJ25"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>328065.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco Bay Area Rapid Transit District</name>
        <lei>549300Y3C3QUMLE3FY58</lei>
        <title>SAN FRANCISCO CA BAY AREA RAPID TRANSIT DIST</title>
        <cusip>797661ZK4</cusip>
        <identifiers>
          <isin value="US797661ZK40"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1236360.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>South Gate Utility Authority</name>
        <lei>N/A</lei>
        <title>SOUTH GATE CA UTILITY AUTH WTR REVENUE</title>
        <cusip>83789TBJ7</cusip>
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          <isin value="US83789TBJ79"/>
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        <balance>2360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2782534.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tustin Unified School District</name>
        <lei>N/A</lei>
        <title>TUSTIN CA UNIF SCH DIST SCH FACS IMPT DIST</title>
        <cusip>901072LJ5</cusip>
        <identifiers>
          <isin value="US901072LJ57"/>
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        <balance>1070000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1076323.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.85400000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Central Marin Police Authority</name>
        <lei>N/A</lei>
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        <cusip>154070AF3</cusip>
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          <isin value="US154070AF37"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>275596.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.46900000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ukiah Unified School District/CA</name>
        <lei>N/A</lei>
        <title>UKIAH CA UNIF SCH DIST</title>
        <cusip>903698EF1</cusip>
        <identifiers>
          <isin value="US903698EF19"/>
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        <balance>1085000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1332184.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Santa Rosa High School District</name>
        <lei>N/A</lei>
        <title>SANTA ROSA CA HIGH SCH DIST</title>
        <cusip>802615L93</cusip>
        <identifiers>
          <isin value="US802615L934"/>
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        <balance>1260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1534843.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Liberty Union High School District</name>
        <lei>N/A</lei>
        <title>LIBERTY CA UNION HIGH SCH DIST</title>
        <cusip>530319SC7</cusip>
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          <isin value="US530319SC73"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1085850.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Norman Y Mineta San Jose International Airport SJC</name>
        <lei>N/A</lei>
        <title>SAN JOSE CA ARPT REVENUE</title>
        <cusip>798136XY8</cusip>
        <identifiers>
          <isin value="US798136XY82"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>507315.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.21000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
        <title>GILROY CA UNIF SCH DIST</title>
        <cusip>376087GU0</cusip>
        <identifiers>
          <isin value="US376087GU08"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>612145.00000000</valUSD>
        <pctVal>0.084092105691</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Irvine CA</name>
        <lei>549300PJ9FL2XGFR8J79</lei>
        <title>IRVINE CA SPL TAX</title>
        <cusip>46360TFN8</cusip>
        <identifiers>
          <isin value="US46360TFN81"/>
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        <balance>625000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>740237.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Madera Unified School District</name>
        <lei>N/A</lei>
        <title>MADERA CA UNIF SCH DIST</title>
        <cusip>556452JB7</cusip>
        <identifiers>
          <isin value="US556452JB77"/>
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        <balance>1305000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1513852.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oak Grove School District</name>
        <lei>N/A</lei>
        <title>OAK GROVE CA SCH DIST</title>
        <cusip>6712054U3</cusip>
        <identifiers>
          <isin value="US6712054U35"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>277582.25000000</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>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.39700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELEC PWR AUTH PWR REVENUE</title>
        <cusip>74526QES7</cusip>
        <identifiers>
          <isin value="US74526QES75"/>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>133030.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Franklin-Mckinley School District</name>
        <lei>N/A</lei>
        <title>FRANKLIN-MCKINLEY CA SCH DIST</title>
        <cusip>3538562L0</cusip>
        <identifiers>
          <isin value="US3538562L09"/>
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        <balance>245000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>285863.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Juan Unified School District</name>
        <lei>N/A</lei>
        <title>SAN JUAN CA UNIF SCH DIST</title>
        <cusip>798306XX9</cusip>
        <identifiers>
          <isin value="US798306XX95"/>
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        <balance>1900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2113712.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA PUBLIC FIN AUTH REVENUE</title>
        <cusip>13057EDS0</cusip>
        <identifiers>
          <isin value="US13057EDS00"/>
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        <balance>390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>439686.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Fontana CA</name>
        <lei>N/A</lei>
        <title>FONTANA CA SPL TAX</title>
        <cusip>344630YM4</cusip>
        <identifiers>
          <isin value="US344630YM48"/>
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        <balance>435000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>457646.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH STUDENT HSG REVENUE</title>
        <cusip>13049YFD8</cusip>
        <identifiers>
          <isin value="US13049YFD85"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>741144.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ukiah Unified School District/CA</name>
        <lei>N/A</lei>
        <title>UKIAH CA UNIF SCH DIST</title>
        <cusip>903698EE4</cusip>
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          <isin value="US903698EE44"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1232820.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Portola Valley School District</name>
        <lei>N/A</lei>
        <title>PORTOLA VLY CA SCH DIST</title>
        <cusip>737016PB5</cusip>
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          <isin value="US737016PB58"/>
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        <balance>205000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>256311.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Santa Clarita Community College District</name>
        <lei>N/A</lei>
        <title>SANTA CLARITA CA CMNTY CLG DIST</title>
        <cusip>801686TG1</cusip>
        <identifiers>
          <isin value="US801686TG11"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>905544.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
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          <annualizedRt>1.39300000</annualizedRt>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST EDUCTNL FACS AUTH REVENUE</title>
        <cusip>130179TG9</cusip>
        <identifiers>
          <isin value="US130179TG92"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>590277.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA SCH FIN AUTH SCH FAC REVENUE</title>
        <cusip>13059TGY9</cusip>
        <identifiers>
          <isin value="US13059TGY91"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>934792.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bay Area Toll Authority</name>
        <lei>5493001FUZGUQMIP5D78</lei>
        <title>BAY AREA CA TOLL AUTH TOLL BRIDGE REVENUE</title>
        <cusip>072024XA5</cusip>
        <identifiers>
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      <invstOrSec>
        <name>Allan Hancock Joint Community College District/CA</name>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
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        <name>State of California Department of Water Resources</name>
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        <name>City of Oceanside CA Water Revenue</name>
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      <invstOrSec>
        <name>Galt Joint Union High School District</name>
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        <name>Anaheim Union High School District</name>
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        <name>Sacramento Municipal Utility District</name>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
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          <isin value="US1301783W46"/>
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        <name>State of California</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Burlingame School District</name>
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        <name>Mountain View School District/Los Angeles County</name>
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        <name>Old Adobe Union School District</name>
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        <name>Bay Area Toll Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Riverside Unified School District</name>
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        <name>California Pollution Control Financing Authority</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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      <invstOrSec>
        <name>Santa Rosa High School District</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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          <isin value="US46360TCZ49"/>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Albany Unified School District</name>
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          <isin value="US012104SX43"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Orange County Water District</name>
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          <isin value="US68442CCQ78"/>
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        <name>City of Irvine CA</name>
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          <isin value="US46360TCX90"/>
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      <invstOrSec>
        <name>Cotati-Rohnert Park Unified School District</name>
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          <isin value="US221623YV79"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Albany Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
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        <name>Marin Public Financing Authority</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Rio Elementary School District Community Facilities District</name>
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        <name>City of Fontana CA</name>
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        <name>Coast Community College District</name>
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        <name>California Statewide Communities Development Authority</name>
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      <invstOrSec>
        <name>City of Fontana CA</name>
        <lei>N/A</lei>
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        <name>San Diego Redevelopment Agency Successor Agency</name>
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        <name>South Whittier School District</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>City of Oceanside CA Water Revenue</name>
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        <name>Cotati-Rohnert Park Unified School District</name>
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        <name>City of Glendale CA Electric Revenue</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Folsom Ranch Financing Authority</name>
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        <name>Desert Community College District</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>California Municipal Finance Authority</name>
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        <name>State of California</name>
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      <invstOrSec>
        <name>Porterville Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US73759RBU32"/>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>244239.60000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mariposa County Unified School District</name>
        <lei>N/A</lei>
        <title>MARIPOSA CNTY CA UNIF SCH DIST</title>
        <cusip>570255BD0</cusip>
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          <isin value="US570255BD08"/>
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        <curCd>USD</curCd>
        <valUSD>1564205.65000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Downey CA</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US260888AK86"/>
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        <balance>850000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>826404.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.05000000</annualizedRt>
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      <invstOrSec>
        <name>City of Irvine CA</name>
        <lei>549300PJ9FL2XGFR8J79</lei>
        <title>IRVINE CA SPL TAX</title>
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          <isin value="US46360TFQ13"/>
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        <balance>765000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>903113.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
        <title>LONG BEACH CA UNIF SCH DIST</title>
        <cusip>542433UV7</cusip>
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          <isin value="US542433UV72"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>299427.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Norman Y Mineta San Jose International Airport SJC</name>
        <lei>N/A</lei>
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        <cusip>798136WW3</cusip>
        <identifiers>
          <isin value="US798136WW36"/>
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        <balance>1535000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1835660.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tahoe-Truckee Unified School District</name>
        <lei>N/A</lei>
        <title>TAHOE-TRUCKEE CA UNIF SCH DIST</title>
        <cusip>873884NQ9</cusip>
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          <isin value="US873884NQ97"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1201000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fresno Unified School District</name>
        <lei>549300WL4QIP65TFU882</lei>
        <title>FRESNO CA UNIF SCH DIST</title>
        <cusip>3582326C5</cusip>
        <identifiers>
          <isin value="US3582326C54"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>566926.75000000</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>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
        <lei>54930055TIDYHNDP4F84</lei>
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        <cusip>79766DRH4</cusip>
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          <isin value="US79766DRH43"/>
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        <balance>2465000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2744506.35000000</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>2044-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Port of Los Angeles</name>
        <lei>N/A</lei>
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          <isin value="US544552ZD70"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1003780.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Downey CA</name>
        <lei>N/A</lei>
        <title>DOWNEY CA PENSN OBLIG</title>
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        <balance>2045000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1982586.60000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.35000000</annualizedRt>
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      <invstOrSec>
        <name>Tamalpais Union High School District</name>
        <lei>N/A</lei>
        <title>TAMALPAIS CA UNION HIGH SCH DIST</title>
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          <isin value="US874857KZ74"/>
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        <balance>475000.00000000</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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        <name>Morongo Band of Mission Indians/The</name>
        <lei>N/A</lei>
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          <isin value="US617734AG30"/>
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          <maturityDt>2039-10-01</maturityDt>
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          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ukiah Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US903698EC87"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2036-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Upper Santa Clara Valley Joint Powers Authority</name>
        <lei>N/A</lei>
        <title>UPPER SANTA CLARA VY CA JT PWRS AUTH REVENUE</title>
        <cusip>916544EH8</cusip>
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          <isin value="US916544EH80"/>
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        <valUSD>378852.00000000</valUSD>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>City of San Luis Obispo CA Community Facilities District No 2019-1</name>
        <lei>N/A</lei>
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          <isin value="US798601AS91"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Simi Valley Unified School District</name>
        <lei>N/A</lei>
        <title>SIMI VLY CA UNIF SCH DIST</title>
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          <isin value="US828641YD63"/>
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        <balance>200000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Menifee Union School District</name>
        <lei>N/A</lei>
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          <isin value="US586807JL41"/>
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      <invstOrSec>
        <name>San Francisco Bay Area Rapid Transit District</name>
        <lei>549300Y3C3QUMLE3FY58</lei>
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          <isin value="US797661YF63"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US13048VBV99"/>
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        <curCd>USD</curCd>
        <valUSD>3166754.00000000</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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      <invstOrSec>
        <name>Washington Unified School District/Fresno County CA</name>
        <lei>N/A</lei>
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          <isin value="US937414DB31"/>
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        <curCd>USD</curCd>
        <valUSD>375856.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Albany Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US012104SQ91"/>
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        <curCd>USD</curCd>
        <valUSD>414845.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Old Adobe Union School District</name>
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          <isin value="US679502JJ46"/>
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        <curCd>USD</curCd>
        <valUSD>233478.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Albany Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US012104SR74"/>
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        <curCd>USD</curCd>
        <valUSD>377987.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Bernardino City Unified School District</name>
        <lei>N/A</lei>
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        <cusip>796711J59</cusip>
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          <isin value="US796711J594"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3533565.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of San Francisco CA Public Utilities Commission Water Revenue</name>
        <lei>N/A</lei>
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        <cusip>79765RS75</cusip>
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        <balance>890000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1029151.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA SCH FIN AUTH SCH FAC REVENUE</title>
        <cusip>13059TGS2</cusip>
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          <isin value="US13059TGS24"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>121884.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Fontana CA</name>
        <lei>N/A</lei>
        <title>FONTANA CA SPL TAX</title>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>797132.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Downey CA</name>
        <lei>N/A</lei>
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        <balance>650000.00000000</balance>
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          <maturityDt>2030-06-01</maturityDt>
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          <annualizedRt>1.85000000</annualizedRt>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13057EDT8</cusip>
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          <isin value="US13057EDT82"/>
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        <balance>415000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA ST HLTH FACS FING AUTH REVENUE</title>
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          <isin value="US13032UDA34"/>
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          <maturityDt>2032-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Folsom Ranch Financing Authority</name>
        <lei>N/A</lei>
        <title>FOLSOM RANCH CA FING AUTH SPL TAX REVENUE</title>
        <cusip>344414DY0</cusip>
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          <isin value="US344414DY09"/>
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        <balance>185000.00000000</balance>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Long Beach CA Harbor Revenue</name>
        <lei>N/A</lei>
        <title>LONG BEACH CA HARBOR REVENUE</title>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-05-15</maturityDt>
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      <invstOrSec>
        <name>Saugus Union School District School Facilities Improvement District No 2014-1</name>
        <lei>N/A</lei>
        <title>SAUGUS CA UNION SCH DIST SCH FACS IMPT DIST #2014-1</title>
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          <maturityDt>2033-08-01</maturityDt>
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      <invstOrSec>
        <name>City of Monterey Park CA</name>
        <lei>N/A</lei>
        <title>MONTEREY PK CA PENSN OBLIG</title>
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        <balance>560000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pittsburg Unified School District</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>1835274.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-08-01</maturityDt>
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      <invstOrSec>
        <name>Yolo County Public Agencies Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US986040AR43"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>598825.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mount San Jacinto Community College District</name>
        <lei>N/A</lei>
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          <isin value="US623053CQ60"/>
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        <curCd>USD</curCd>
        <valUSD>3215040.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-01</maturityDt>
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      <invstOrSec>
        <name>Metropolitan Water District of Southern California</name>
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          <isin value="US59266TNJ69"/>
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        <balance>3330000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3330765.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.28000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rio Elementary School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US767032GV11"/>
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        <balance>555000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>683526.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Moreland School District</name>
        <lei>N/A</lei>
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        <cusip>616794VQ3</cusip>
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          <isin value="US616794VQ32"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>140455.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Pollution Control Financing Authority</name>
        <lei>N/A</lei>
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        <cusip>130536LT0</cusip>
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          <isin value="US130536LT02"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2650500.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>City of San Luis Obispo CA Community Facilities District No 2019-1</name>
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        <cusip>798601AJ9</cusip>
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          <isin value="US798601AJ92"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>South Orange County Public Financing Authority</name>
        <lei>N/A</lei>
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        <cusip>839100JL9</cusip>
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          <isin value="US839100JL97"/>
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        <balance>515000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mount San Jacinto Community College District</name>
        <lei>N/A</lei>
        <title>MOUNT SAN JACINTO CA CMNTY CLG DIST</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA ST HLTH FACS FING AUTH REVENUE</title>
        <cusip>13032UCE6</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-15</maturityDt>
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        <name>Gilroy Unified School District</name>
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          <maturityDt>2035-08-01</maturityDt>
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        <name>Sonoma Valley Unified School District</name>
        <lei>N/A</lei>
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        <name>Tahoe-Truckee Unified School District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Housing Finance</name>
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        <name>Anaheim Union High School District</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
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          <isin value="US088013EX15"/>
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        <name>Upper Santa Clara Valley Joint Powers Authority</name>
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        <name>San Joaquin Hills Transportation Corridor Agency</name>
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        <name>State of California Department of Water Resources</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rio Elementary School District/CA</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Vacaville Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US918608TW00"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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          <isin value="US13049RBF29"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US376087GS51"/>
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        <curCd>USD</curCd>
        <valUSD>293990.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chino Valley Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US169583GX37"/>
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        <curCd>USD</curCd>
        <valUSD>856167.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-01</maturityDt>
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      <invstOrSec>
        <name>Liberty Union High School District</name>
        <lei>N/A</lei>
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          <isin value="US530319SB90"/>
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        <curCd>USD</curCd>
        <valUSD>968320.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Fontana CA</name>
        <lei>N/A</lei>
        <title>FONTANA CA SPL TAX</title>
        <cusip>344630YX0</cusip>
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          <isin value="US344630YX03"/>
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        <balance>205000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>236563.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Moreland School District</name>
        <lei>N/A</lei>
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        <cusip>616794VX8</cusip>
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          <isin value="US616794VX82"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>832314.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Folsom Ranch Financing Authority</name>
        <lei>N/A</lei>
        <title>FOLSOM RANCH CA FING AUTH SPL TAX REVENUE</title>
        <cusip>344414DT1</cusip>
        <identifiers>
          <isin value="US344414DT14"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>112723.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Diego Redevelopment Agency Successor Agency</name>
        <lei>N/A</lei>
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        <cusip>79730WBB5</cusip>
        <identifiers>
          <isin value="US79730WBB54"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>276507.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>Beverly Hills Public Financing Authority</name>
        <lei>N/A</lei>
        <title>BEVERLY HILLS CA PUBLIC FING AUTH WTR REVENUE</title>
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          <isin value="US088013FA03"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Albany Unified School District</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Simi Valley Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US828641YK07"/>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Placer Union High School District School Facilities Improvement District No 2</name>
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        <cusip>72600PBS5</cusip>
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          <isin value="US72600PBS56"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2045-08-01</maturityDt>
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      <invstOrSec>
        <name>City of Manhattan Beach CA</name>
        <lei>N/A</lei>
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          <isin value="US562784AK49"/>
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        <balance>400000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-01-01</maturityDt>
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      <invstOrSec>
        <name>Central Marin Police Authority</name>
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          <isin value="US154070AE61"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-01</maturityDt>
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          <annualizedRt>1.11500000</annualizedRt>
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      <invstOrSec>
        <name>Independent Cities Finance Authority</name>
        <lei>549300ZZZYTBUL6FR983</lei>
        <title>INDEP CITIES CA FIN AUTH MOBILE HOME PARK REVENUE</title>
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          <isin value="US45385LNE91"/>
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        <balance>775000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>784393.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-06-15</maturityDt>
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          <annualizedRt>3.20000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Upper Santa Clara Valley Joint Powers Authority</name>
        <lei>N/A</lei>
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          <isin value="US916544EF25"/>
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        <curCd>USD</curCd>
        <valUSD>63364.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Albany Unified School District</name>
        <lei>N/A</lei>
        <title>ALBANY CA UNIF SCH DIST</title>
        <cusip>012104TD7</cusip>
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          <isin value="US012104TD79"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>423454.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Old Adobe Union School District</name>
        <lei>N/A</lei>
        <title>OLD ADOBE CA UNION SCH DIST</title>
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          <isin value="US679502JG07"/>
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        <curCd>USD</curCd>
        <valUSD>351816.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mendocino Unified School District</name>
        <lei>N/A</lei>
        <title>MENDOCINO CA UNIF SCH DIST</title>
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          <isin value="US586596CD84"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>226419.65000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hartnell Community College District/CA</name>
        <lei>N/A</lei>
        <title>HARTNELL CA CMNTY CLG DIST</title>
        <cusip>417123GD2</cusip>
        <identifiers>
          <isin value="US417123GD23"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>238896.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
        <title>GILROY CA UNIF SCH DIST</title>
        <cusip>376087GZ9</cusip>
        <identifiers>
          <isin value="US376087GZ94"/>
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        <balance>660000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>786376.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE</title>
        <cusip>13048RAJ6</cusip>
        <identifiers>
          <isin value="US13048RAJ68"/>
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        <balance>5750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5750115.00000000</valUSD>
        <pctVal>0.789909708186</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Albany Unified School District</name>
        <lei>N/A</lei>
        <title>ALBANY CA UNIF SCH DIST</title>
        <cusip>012104SS5</cusip>
        <identifiers>
          <isin value="US012104SS57"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>898012.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Manteca Unified School District</name>
        <lei>N/A</lei>
        <title>MANTECA CA UNIF SCH DIST</title>
        <cusip>564538FQ4</cusip>
        <identifiers>
          <isin value="US564538FQ43"/>
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        <balance>360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>430570.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Abag Finance Authority for Nonprofit Corps</name>
        <lei>549300EWVCCTI6O2KU84</lei>
        <title>ABAG CA FIN AUTH FOR NONPROFIT CORPS</title>
        <cusip>00037CRV4</cusip>
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          <isin value="US00037CRV45"/>
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        <balance>615000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>617607.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST EDUCTNL FACS AUTH REVENUE</title>
        <cusip>130179TH7</cusip>
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          <isin value="US130179TH75"/>
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        <balance>395000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>503356.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tustin Unified School District</name>
        <lei>N/A</lei>
        <title>TUSTIN CA UNIF SCH DIST SCH FACS IMPT DIST</title>
        <cusip>901072MB1</cusip>
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          <isin value="US901072MB13"/>
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        <balance>1510000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1514696.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75400000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
        <title>GILROY CA UNIF SCH DIST</title>
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          <isin value="US376087GP13"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>324066.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego Community College District</name>
        <lei>N/A</lei>
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          <isin value="US797272QA28"/>
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        <balance>4500000.00000000</balance>
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        <valUSD>5184000.00000000</valUSD>
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        <invCountry>US</invCountry>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Santa Clarita Community College District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>City &amp; County of San Francisco CA</name>
        <lei>549300RA28ZEFOB6M782</lei>
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        <balance>2620000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Independent Cities Finance Authority</name>
        <lei>549300ZZZYTBUL6FR983</lei>
        <title>INDEP CITIES CA FIN AUTH MOBILE HOME PARK REVENUE</title>
        <cusip>45385LMY6</cusip>
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          <isin value="US45385LMY64"/>
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        <balance>1205000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1314679.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-15</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System Revenue</name>
        <lei>N/A</lei>
        <title>EAST BAY CA MUNI UTILITY DIST WTR SYS REVENUE</title>
        <cusip>271014YZ9</cusip>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1760910.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Porterville Unified School District</name>
        <lei>N/A</lei>
        <title>PORTERVILLE CA UNI SCH DIST</title>
        <cusip>73759RBT6</cusip>
        <identifiers>
          <isin value="US73759RBT68"/>
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        <balance>215000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>231686.15000000</valUSD>
        <pctVal>0.031827387650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of California Department of Water Resources</name>
        <lei>549300X618YEC5LGBQ98</lei>
        <title>CALIFORNIA ST DEPT OF WTR RESOURCES CENTRL VLY PROJ</title>
        <cusip>13067WSX1</cusip>
        <identifiers>
          <isin value="US13067WSX10"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503060.00000000</valUSD>
        <pctVal>0.069106787916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.35200000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Albany Unified School District</name>
        <lei>N/A</lei>
        <title>ALBANY CA UNIF SCH DIST</title>
        <cusip>012104SL0</cusip>
        <identifiers>
          <isin value="US012104SL05"/>
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        <balance>255000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>309965.25000000</valUSD>
        <pctVal>0.042580811023</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Public Facilities Financing Authority</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA PUBLIC FACS FING AUTH WTR REVENUE</title>
        <cusip>79730CKJ2</cusip>
        <identifiers>
          <isin value="US79730CKJ26"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1236170.00000000</valUSD>
        <pctVal>0.169816200888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rio Elementary School District Community Facilities District</name>
        <lei>N/A</lei>
        <title>RIO CA ELEM SCH DIST CMNTY FACS DIST SPL TAX</title>
        <cusip>767027EF8</cusip>
        <identifiers>
          <isin value="US767027EF85"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1528935.00000000</valUSD>
        <pctVal>0.210034164479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Simi Valley Unified School District</name>
        <lei>N/A</lei>
        <title>SIMI VLY CA UNIF SCH DIST</title>
        <cusip>828641YB0</cusip>
        <identifiers>
          <isin value="US828641YB08"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>180045.00000000</valUSD>
        <pctVal>0.024733295492</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Carlsbad Unified School District</name>
        <lei>N/A</lei>
        <title>CARLSBAD CA UNIF SCH DIST</title>
        <cusip>142665GR3</cusip>
        <identifiers>
          <isin value="US142665GR33"/>
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        <balance>335000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>372345.80000000</valUSD>
        <pctVal>0.051150205208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Glendale Unified School District/CA</name>
        <lei>N/A</lei>
        <title>GLENDALE CA UNIF SCH DIST</title>
        <cusip>378460ZX0</cusip>
        <identifiers>
          <isin value="US378460ZX05"/>
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        <balance>2195000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2390289.15000000</valUSD>
        <pctVal>0.328360842341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Juan Unified School District</name>
        <lei>N/A</lei>
        <title>SAN JUAN CA UNIF SCH DIST</title>
        <cusip>798306XT8</cusip>
        <identifiers>
          <isin value="US798306XT83"/>
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        <balance>590000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>708177.00000000</valUSD>
        <pctVal>0.097284295603</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Southern California Public Power Authority</name>
        <lei>5493003B5TD5FWUKMD34</lei>
        <title>STHRN CA PUBLIC PWR AUTH REVENUE</title>
        <cusip>84247PGC9</cusip>
        <identifiers>
          <isin value="US84247PGC95"/>
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        <balance>350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>350000.00000000</valUSD>
        <pctVal>0.048080498888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Mateo Foster City School District/CA</name>
        <lei>N/A</lei>
        <title>SAN MATEO CA FOSTER CITY SCH DIST</title>
        <cusip>799055TA6</cusip>
        <identifiers>
          <isin value="US799055TA65"/>
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        <balance>335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>408760.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA STWD CMNTYS DEV AUTH REVENUE</title>
        <cusip>13080SBU7</cusip>
        <identifiers>
          <isin value="US13080SBU78"/>
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        <balance>715000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>781230.45000000</valUSD>
        <pctVal>0.107319856522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Placer Union High School District School Facilities Improvement District No 2</name>
        <lei>N/A</lei>
        <title>PLACER CA UNION HIGH SCH DIST SCH FACS IMPT DIST NO 2</title>
        <cusip>72600PBR7</cusip>
        <identifiers>
          <isin value="US72600PBR73"/>
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        <balance>2030000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2378733.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Menifee Union School District</name>
        <lei>N/A</lei>
        <title>MENIFEE CA UNION SCH DIST</title>
        <cusip>586807JN0</cusip>
        <identifiers>
          <isin value="US586807JN07"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>363522.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA STWD CMNTYS DEV AUTH REVENUE</title>
        <cusip>13080SEY6</cusip>
        <identifiers>
          <isin value="US13080SEY63"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4583040.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA SCH FIN AUTH SCH FAC REVENUE</title>
        <cusip>13059TGX1</cusip>
        <identifiers>
          <isin value="US13059TGX19"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>129107.00000000</valUSD>
        <pctVal>0.017735797057</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Folsom Ranch Financing Authority</name>
        <lei>N/A</lei>
        <title>FOLSOM RANCH CA FING AUTH SPL TAX REVENUE</title>
        <cusip>344414DV6</cusip>
        <identifiers>
          <isin value="US344414DV69"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>112034.00000000</valUSD>
        <pctVal>0.015390430321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>La Canada Unified School District</name>
        <lei>N/A</lei>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Mendocino Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US586596CM83"/>
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        <curCd>USD</curCd>
        <valUSD>3495801.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Brisbane Elementary School District</name>
        <lei>N/A</lei>
        <title>BRISBANE CA SCH DIST</title>
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          <isin value="US10973RCG56"/>
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        <curCd>USD</curCd>
        <valUSD>364544.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vacaville Unified School District</name>
        <lei>N/A</lei>
        <title>VACAVILLE CA UNIF SCH DIST</title>
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          <isin value="US918608UE82"/>
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        <balance>2145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2501477.55000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>La Canada Unified School District</name>
        <lei>N/A</lei>
        <title>LA CANADA CA UNIF SCH DIST</title>
        <cusip>502516QJ9</cusip>
        <identifiers>
          <isin value="US502516QJ94"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>597240.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA STWD CMNTYS DEV AUTH REVENUE</title>
        <cusip>13080SGT5</cusip>
        <identifiers>
          <isin value="US13080SGT50"/>
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        <balance>780000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>905720.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Norman Y Mineta San Jose International Airport SJC</name>
        <lei>N/A</lei>
        <title>SAN JOSE CA ARPT REVENUE</title>
        <cusip>798136XT9</cusip>
        <identifiers>
          <isin value="US798136XT97"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>249122.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.65000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
        <title>GILROY CA UNIF SCH DIST</title>
        <cusip>376087GQ9</cusip>
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          <isin value="US376087GQ95"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>278852.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Mateo Foster City School District/CA</name>
        <lei>N/A</lei>
        <title>SAN MATEO CA FOSTER CITY SCH DIST</title>
        <cusip>799055SZ2</cusip>
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          <isin value="US799055SZ26"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>490708.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST</title>
        <cusip>13063CR77</cusip>
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          <isin value="US13063CR771"/>
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        <curCd>USD</curCd>
        <valUSD>1093213.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Alameda Corridor Transportation Authority</name>
        <lei>N/A</lei>
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          <isin value="US010869HJ76"/>
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        <balance>5075000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6105174.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lake Elsinore School Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US50964BDE11"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <maturityDt>2037-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chino Valley Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US169583GZ84"/>
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          <maturityDt>2045-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Old Adobe Union School District</name>
        <lei>N/A</lei>
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          <isin value="US679502JF24"/>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego Redevelopment Agency Successor Agency</name>
        <lei>N/A</lei>
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          <maturityDt>2022-09-01</maturityDt>
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        <name>Riverside Community College District</name>
        <lei>N/A</lei>
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          <isin value="US76886PJR55"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-08-01</maturityDt>
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          <annualizedRt>1.58900000</annualizedRt>
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      <invstOrSec>
        <name>City of Downey CA</name>
        <lei>N/A</lei>
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        <balance>550000.00000000</balance>
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        <valUSD>539313.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <annualizedRt>1.75000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELEC PWR AUTH PWR REVENUE</title>
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        <balance>180000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US376087GN64"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
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          <isin value="US79739GLJ30"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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          <maturityDt>2022-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526QPQ90"/>
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        <curCd>USD</curCd>
        <valUSD>2266656.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13057GAG4</cusip>
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          <isin value="US13057GAG47"/>
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        <balance>575000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>582981.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Diego County Regional Transportation Commission</name>
        <lei>W4FR340A6EQ2SSI17B56</lei>
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        <cusip>797400NF1</cusip>
        <identifiers>
          <isin value="US797400NF13"/>
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        <balance>335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>407195.85000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Fontana CA</name>
        <lei>N/A</lei>
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          <isin value="US344630YU63"/>
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        <balance>135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>156988.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
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        <cusip>91412GQ73</cusip>
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          <isin value="US91412GQ737"/>
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        <balance>4215000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5066556.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Luis Coastal Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US798546DK03"/>
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        <balance>1835000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2197797.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Pittsburg Successor Agency Redevelopment Agency</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US86459LBB36"/>
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        <balance>955000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>983564.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.38800000</annualizedRt>
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      <invstOrSec>
        <name>Cambrian School District</name>
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        <balance>1645000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1732152.10000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2022-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Cotati-Rohnert Park Unified School District</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2034-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Burlingame School District</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2037-08-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Norman Y Mineta San Jose International Airport SJC</name>
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        <name>Paramount Unified School District</name>
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      <invstOrSec>
        <name>Manteca Unified School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US13059TGU79"/>
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        <valUSD>122477.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Norman Y Mineta San Jose International Airport SJC</name>
        <lei>N/A</lei>
        <title>SAN JOSE CA ARPT REVENUE</title>
        <cusip>798136XV4</cusip>
        <identifiers>
          <isin value="US798136XV44"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>249552.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.35900000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Fontana CA</name>
        <lei>N/A</lei>
        <title>FONTANA CA SPL TAX</title>
        <cusip>344630YW2</cusip>
        <identifiers>
          <isin value="US344630YW20"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>173430.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>State of California Department of Water Resources</name>
        <lei>549300X618YEC5LGBQ98</lei>
        <title>CALIFORNIA ST DEPT OF WTR RESOURCES CENTRL VLY PROJ</title>
        <cusip>13067WSZ6</cusip>
        <identifiers>
          <isin value="US13067WSZ67"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>507250.00000000</valUSD>
        <pctVal>0.069682380174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.73200000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Francisco City &amp; County Redevelopment Agency Successor Agency</name>
        <lei>5493001TPOZL3UK8DX25</lei>
        <title>SAN FRANCISCO CITY &amp; CNTY CA REDEV AGY SUCCESSOR AGY TAX</title>
        <cusip>79770GDV5</cusip>
        <identifiers>
          <isin value="US79770GDV59"/>
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        <balance>1320000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1539423.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Simi Valley Unified School District</name>
        <lei>N/A</lei>
        <title>SIMI VLY CA UNIF SCH DIST</title>
        <cusip>828641YM6</cusip>
        <identifiers>
          <isin value="US828641YM62"/>
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        <balance>1545000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1814695.20000000</valUSD>
        <pctVal>0.249289858703</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ross Valley Public Financing Authority</name>
        <lei>N/A</lei>
        <title>ROSS VALLEY CA PUBLIC FING AUTH REVENUE</title>
        <cusip>778388CL0</cusip>
        <identifiers>
          <isin value="US778388CL06"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>572340.00000000</valUSD>
        <pctVal>0.078623979239</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Carlsbad Unified School District</name>
        <lei>N/A</lei>
        <title>CARLSBAD CA UNIF SCH DIST</title>
        <cusip>142665GS1</cusip>
        <identifiers>
          <isin value="US142665GS16"/>
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        <balance>480000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>532060.80000000</valUSD>
        <pctVal>0.073090710579</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
        <title>GILROY CA UNIF SCH DIST</title>
        <cusip>376087HE5</cusip>
        <identifiers>
          <isin value="US376087HE56"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>586725.00000000</valUSD>
        <pctVal>0.080600087743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048TVJ9</cusip>
        <identifiers>
          <isin value="US13048TVJ95"/>
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        <balance>165000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>185613.45000000</valUSD>
        <pctVal>0.025498249361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Folsom Ranch Financing Authority</name>
        <lei>N/A</lei>
        <title>FOLSOM RANCH CA FING AUTH SPL TAX REVENUE</title>
        <cusip>344414EB9</cusip>
        <identifiers>
          <isin value="US344414EB96"/>
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        <balance>230000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>255557.60000000</valUSD>
        <pctVal>0.035106676864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Luis Coastal Unified School District</name>
        <lei>N/A</lei>
        <title>SAN LUIS COASTAL CA UNIF SCH DIST</title>
        <cusip>798546DJ3</cusip>
        <identifiers>
          <isin value="US798546DJ30"/>
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        <balance>3550000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4261597.50000000</valUSD>
        <pctVal>0.585427811032</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048VBY3</cusip>
        <identifiers>
          <isin value="US13048VBY39"/>
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        <balance>2060000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2509533.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco Unified School District</name>
        <lei>N/A</lei>
        <title>SAN FRANCISCO CITY &amp; CNTY CA UNIF SCH DIST</title>
        <cusip>79771TNL7</cusip>
        <identifiers>
          <isin value="US79771TNL79"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2365680.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mountain View School District/Los Angeles County</name>
        <lei>N/A</lei>
        <title>MOUNTAIN VIEW CA SCH DIST LOS ANGELES CNTY</title>
        <cusip>624403JE2</cusip>
        <identifiers>
          <isin value="US624403JE21"/>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>441150.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Oxnard Union High School District</name>
        <lei>N/A</lei>
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          <isin value="US692039QK98"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1139370.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ohlone Community College District</name>
        <lei>N/A</lei>
        <title>OHLONE CA CMNTY CLG DIST</title>
        <cusip>677765HH5</cusip>
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          <isin value="US677765HH53"/>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>223671.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.24300000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles County Metropolitan Transportation Authority</name>
        <lei>54930051IHTXE1N9RB42</lei>
        <title>LOS ANGELES CNTY CA MET TRANSPRTN AUTH SALES TAX REVENUE</title>
        <cusip>54466HDW3</cusip>
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          <isin value="US54466HDW34"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1812630.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
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        <cusip>376087GW6</cusip>
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          <isin value="US376087GW63"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>422653.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Manteca Unified School District</name>
        <lei>N/A</lei>
        <title>MANTECA CA UNIF SCH DIST</title>
        <cusip>564538FT8</cusip>
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          <isin value="US564538FT81"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>594380.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sonoma Valley Unified School District</name>
        <lei>N/A</lei>
        <title>SONOMA VLY CA UNIF SCH DIST</title>
        <cusip>835631PL0</cusip>
        <identifiers>
          <isin value="US835631PL04"/>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>502626.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA STWD CMNTYS DEV AUTH REVENUE</title>
        <cusip>13080SGS7</cusip>
        <identifiers>
          <isin value="US13080SGS77"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>583675.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Public Facilities Financing Authority</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA PUBLIC FACS FING AUTH WTR REVENUE</title>
        <cusip>79730CKK9</cusip>
        <identifiers>
          <isin value="US79730CKK98"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1230810.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>West Sonoma County Union High School District</name>
        <lei>N/A</lei>
        <title>W SONOMA CNTY CA UNION HIGH SCH DIST</title>
        <cusip>956101HB8</cusip>
        <identifiers>
          <isin value="US956101HB84"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>626780.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>CALIFORNIA ST INFRASTRUCTURE &amp; ECON DEV BANK REVENUE</title>
        <cusip>13034AHW3</cusip>
        <identifiers>
          <isin value="US13034AHW36"/>
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        <balance>1740000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1927972.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Folsom Ranch Financing Authority</name>
        <lei>N/A</lei>
        <title>FOLSOM RANCH CA FING AUTH SPL TAX REVENUE</title>
        <cusip>344414EC7</cusip>
        <identifiers>
          <isin value="US344414EC79"/>
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        <balance>165000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>183224.25000000</valUSD>
        <pctVal>0.025170038138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Alameda Corridor Transportation Authority</name>
        <lei>N/A</lei>
        <title>ALAMEDA CA CORRIDOR TRANSPRTN AUTH</title>
        <cusip>010869HB4</cusip>
        <identifiers>
          <isin value="US010869HB41"/>
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        <balance>2200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2593514.00000000</valUSD>
        <pctVal>0.356278419982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>CALIFORNIA ST INFRASTRUCTURE &amp; ECON DEV BANK REVENUE</title>
        <cusip>13034AZP8</cusip>
        <identifiers>
          <isin value="US13034AZP82"/>
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        <balance>4800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4803120.00000000</valUSD>
        <pctVal>0.659818302344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.39400000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Lake Elsinore CA</name>
        <lei>N/A</lei>
        <title>LAKE ELSINORE CA IMPT BOND ACT 1915</title>
        <cusip>509628CU5</cusip>
        <identifiers>
          <isin value="US509628CU53"/>
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        <balance>335000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>334919.60000000</valUSD>
        <pctVal>0.046008861301</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.15300000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
        <title>LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE</title>
        <cusip>544445HX0</cusip>
        <identifiers>
          <isin value="US544445HX04"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1755150.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Albany Unified School District</name>
        <lei>N/A</lei>
        <title>ALBANY CA UNIF SCH DIST</title>
        <cusip>012104SU0</cusip>
        <identifiers>
          <isin value="US012104SU04"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1073520.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Redevelopment Agency Successor Agency</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION</title>
        <cusip>79730WBC3</cusip>
        <identifiers>
          <isin value="US79730WBC38"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>277875.00000000</valUSD>
        <pctVal>0.038172481796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sanger Unified School District</name>
        <lei>N/A</lei>
        <title>SANGER CA UNIF SCH DIST</title>
        <cusip>800851SW8</cusip>
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          <isin value="US800851SW88"/>
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        <balance>445000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>446108.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37100000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Upper Santa Clara Valley Joint Powers Authority</name>
        <lei>N/A</lei>
        <title>UPPER SANTA CLARA VY CA JT PWRS AUTH REVENUE</title>
        <cusip>916544EJ4</cusip>
        <identifiers>
          <isin value="US916544EJ47"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>315140.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Porterville Unified School District</name>
        <lei>N/A</lei>
        <title>PORTERVILLE CA UNI SCH DIST</title>
        <cusip>73759RBZ2</cusip>
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          <isin value="US73759RBZ29"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>624912.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Franklin-Mckinley School District</name>
        <lei>N/A</lei>
        <title>FRANKLIN-MCKINLEY CA SCH DIST</title>
        <cusip>3538562M8</cusip>
        <identifiers>
          <isin value="US3538562M81"/>
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        <balance>415000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>483558.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>San Mateo Foster City School District/CA</name>
        <lei>N/A</lei>
        <title>SAN MATEO CA FOSTER CITY SCH DIST</title>
        <cusip>799055SH2</cusip>
        <identifiers>
          <isin value="US799055SH28"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>246236.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Carlsbad Unified School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US13059TFG94"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rio Elementary School District Community Facilities District</name>
        <lei>N/A</lei>
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          <isin value="US767027EC54"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-01</maturityDt>
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      <invstOrSec>
        <name>Riverside County Office of Education Pooled Notes</name>
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          <isin value="US769121AA28"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Lake Elsinore CA</name>
        <lei>N/A</lei>
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          <isin value="US509628CV37"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CSCDA Community Improvement Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Natomas Unified School District</name>
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          <isin value="US63877NKM82"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mount San Jacinto Community College District</name>
        <lei>N/A</lei>
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          <isin value="US623053CN30"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US13048VKX54"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Fontana CA</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>City &amp; County of San Francisco CA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
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        <name>State of California Department of Water Resources</name>
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        <name>City of Pasadena CA Water Revenue</name>
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        <name>City of Manhattan Beach CA</name>
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        <name>Menifee Union School District</name>
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        <name>Simi Valley Unified School District</name>
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        <name>Franklin-Mckinley School District</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH STUDENT HSG REVENUE</title>
        <cusip>13049YEX5</cusip>
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          <isin value="US13049YEX58"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>422201.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Mariposa County Unified School District</name>
        <lei>N/A</lei>
        <title>MARIPOSA CNTY CA UNIF SCH DIST</title>
        <cusip>570255BB4</cusip>
        <identifiers>
          <isin value="US570255BB42"/>
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        <balance>1265000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1501972.45000000</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>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Liberty Union High School District</name>
        <lei>N/A</lei>
        <title>LIBERTY CA UNION HIGH SCH DIST</title>
        <cusip>530319RX2</cusip>
        <identifiers>
          <isin value="US530319RX20"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>296075.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Santa Monica-Malibu Unified School District</name>
        <lei>N/A</lei>
        <title>SANTA MONICA-MALIBU CA UNIF SCH DIST</title>
        <cusip>802498TW5</cusip>
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          <isin value="US802498TW58"/>
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        <balance>815000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>961137.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Albany Unified School District</name>
        <lei>N/A</lei>
        <title>ALBANY CA UNIF SCH DIST</title>
        <cusip>012104SM8</cusip>
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          <isin value="US012104SM87"/>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>527041.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mount San Jacinto Community College District</name>
        <lei>N/A</lei>
        <title>MOUNT SAN JACINTO CA CMNTY CLG DIST</title>
        <cusip>623053CJ2</cusip>
        <identifiers>
          <isin value="US623053CJ28"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>903664.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Mateo Foster City School District/CA</name>
        <lei>N/A</lei>
        <title>SAN MATEO CA FOSTER CITY SCH DIST</title>
        <cusip>799055TC2</cusip>
        <identifiers>
          <isin value="US799055TC22"/>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>392609.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Folsom Ranch Financing Authority</name>
        <lei>N/A</lei>
        <title>FOLSOM RANCH CA FING AUTH SPL TAX REVENUE</title>
        <cusip>344414DZ7</cusip>
        <identifiers>
          <isin value="US344414DZ73"/>
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        <balance>195000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>217442.55000000</valUSD>
        <pctVal>0.029870703667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048TVC4</cusip>
        <identifiers>
          <isin value="US13048TVC43"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>226606.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Santa Clara Valley Transportation Authority</name>
        <lei>549300R6Q7T4MD3V9H68</lei>
        <title>SANTA CLARA VLY CA TRANSPRTN AUTH SALES TAX REVENUE</title>
        <cusip>80168NEG0</cusip>
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          <isin value="US80168NEG07"/>
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        <balance>10370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10370000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Moreland School District</name>
        <lei>N/A</lei>
        <title>MORELAND CA SCH DIST</title>
        <cusip>616794VT7</cusip>
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          <isin value="US616794VT70"/>
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        <balance>320000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>385798.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048TKE2</cusip>
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          <isin value="US13048TKE28"/>
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        <balance>915000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>926547.30000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
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        <cusip>130179TK0</cusip>
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          <isin value="US130179TK05"/>
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        <balance>425000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Manteca Unified School District</name>
        <lei>N/A</lei>
        <title>MANTECA CA UNIF SCH DIST</title>
        <cusip>564538FM3</cusip>
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          <isin value="US564538FM39"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>121085.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Santa Rosa Elementary School District</name>
        <lei>N/A</lei>
        <title>SANTA ROSA CA ELEM SCH DIST</title>
        <cusip>802598PM8</cusip>
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          <isin value="US802598PM87"/>
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        <balance>360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>437929.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Oak Grove School District</name>
        <lei>N/A</lei>
        <title>OAK GROVE CA SCH DIST</title>
        <cusip>6712054V1</cusip>
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          <isin value="US6712054V18"/>
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        <balance>285000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>288402.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.49700000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>La Canada Unified School District</name>
        <lei>N/A</lei>
        <title>LA CANADA CA UNIF SCH DIST</title>
        <cusip>502516QS9</cusip>
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          <isin value="US502516QS93"/>
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        <balance>1445000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1677688.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
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      <invstOrSec>
        <name>Cotati-Rohnert Park Unified School District</name>
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          <maturityDt>2037-08-01</maturityDt>
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      <invstOrSec>
        <name>Mount San Jacinto Community College District</name>
        <lei>N/A</lei>
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          <isin value="US623053CM56"/>
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          <maturityDt>2035-08-01</maturityDt>
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      <invstOrSec>
        <name>State of California</name>
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          <isin value="US13063DD886"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
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          <isin value="US13032UCL08"/>
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        <curCd>USD</curCd>
        <valUSD>5972428.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Mateo Foster City School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US799055SM13"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Orange County Sanitation District</name>
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          <isin value="US68428TCD72"/>
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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>2022-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Burbank-Glendale-Pasadena Airport Authority Brick Campaign</name>
        <lei>N/A</lei>
        <title>BURBANK GLENDALE PASADENA CA ARPT AUTH ARPT REVENUE</title>
        <cusip>120827DK3</cusip>
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          <isin value="US120827DK34"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco Bay Area Rapid Transit District</name>
        <lei>549300Y3C3QUMLE3FY58</lei>
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          <isin value="US797661XX88"/>
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        <curCd>USD</curCd>
        <valUSD>2318133.35000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Brisbane Elementary School District</name>
        <lei>N/A</lei>
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          <isin value="US10973RCH30"/>
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        <balance>535000.00000000</balance>
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        <name>Galt Joint Union High School District</name>
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        <name>Cotati-Rohnert Park Unified School District</name>
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        <name>Placer Union High School District School Facilities Improvement District No 2</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California Enterprise Development Authority</name>
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        <name>Alameda Corridor Transportation Authority</name>
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        <name>Westminster School District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Carlsbad Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US142665GP76"/>
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        <curCd>USD</curCd>
        <valUSD>281182.50000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>San Luis Obispo County Community College District</name>
        <lei>N/A</lei>
        <title>SAN LUIS OBISPO CNTY CA CMNTY CLG DIST</title>
        <cusip>798684EL6</cusip>
        <identifiers>
          <isin value="US798684EL60"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>591880.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Albany Unified School District</name>
        <lei>N/A</lei>
        <title>ALBANY CA UNIF SCH DIST</title>
        <cusip>012104ST3</cusip>
        <identifiers>
          <isin value="US012104ST31"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>956416.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Norman Y Mineta San Jose International Airport SJC</name>
        <lei>N/A</lei>
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        <cusip>798136WV5</cusip>
        <identifiers>
          <isin value="US798136WV52"/>
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        <balance>815000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>946157.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST EDUCTNL FACS AUTH REVENUE</title>
        <cusip>130179TD6</cusip>
        <identifiers>
          <isin value="US130179TD61"/>
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        <balance>525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>592404.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Irvine CA</name>
        <lei>549300PJ9FL2XGFR8J79</lei>
        <title>IRVINE CA SPL TAX</title>
        <cusip>46360TCY7</cusip>
        <identifiers>
          <isin value="US46360TCY73"/>
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        <balance>465000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>525273.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Fontana CA</name>
        <lei>N/A</lei>
        <title>FONTANA CA SPL TAX</title>
        <cusip>344630YQ5</cusip>
        <identifiers>
          <isin value="US344630YQ51"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>140942.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST</title>
        <cusip>13063DD96</cusip>
        <identifiers>
          <isin value="US13063DD969"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1968600.00000000</valUSD>
        <pctVal>0.270432200318</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>San Francisco Bay Area Rapid Transit District</name>
        <lei>549300Y3C3QUMLE3FY58</lei>
        <title>SAN FRANCISCO CA BAY AREA RAPID TRANSIT DIST</title>
        <cusip>797661WX9</cusip>
        <identifiers>
          <isin value="US797661WX97"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1757355.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Rancho Water District Financing Authority</name>
        <lei>N/A</lei>
        <title>RANCHO CA WTR DIST FING AUTH</title>
        <cusip>752111NX8</cusip>
        <identifiers>
          <isin value="US752111NX81"/>
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        <balance>2800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3412556.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
        <title>GILROY CA UNIF SCH DIST</title>
        <cusip>376087HD7</cusip>
        <identifiers>
          <isin value="US376087HD73"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>529357.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oxnard Union High School District</name>
        <lei>N/A</lei>
        <title>OXNARD CA UNION HIGH SCH DIST</title>
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          <isin value="US692039RX01"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1167520.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Riverside Community College District</name>
        <lei>N/A</lei>
        <title>RIVERSIDE CA CMNTY CLG DIST</title>
        <cusip>76886PJP9</cusip>
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          <isin value="US76886PJP99"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2005140.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.12400000</annualizedRt>
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      <invstOrSec>
        <name>San Diego Redevelopment Agency Successor Agency</name>
        <lei>N/A</lei>
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        <cusip>79730WAZ3</cusip>
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          <isin value="US79730WAZ32"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>265265.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
        <name>City of San Luis Obispo CA Community Facilities District No 2019-1</name>
        <lei>N/A</lei>
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        <cusip>798601AG5</cusip>
        <identifiers>
          <isin value="US798601AG53"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>216895.85000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Mateo Foster City School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US799055SX77"/>
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        <valUSD>290490.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Fontana CA</name>
        <lei>N/A</lei>
        <title>FONTANA CA SPL TAX</title>
        <cusip>344630YS1</cusip>
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          <isin value="US344630YS18"/>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>149780.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>City of Los Angeles Department of Airports</name>
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      <invstOrSec>
        <name>State of California</name>
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      <invstOrSec>
        <name>Baldwin Park Unified School District</name>
        <lei>N/A</lei>
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        <name>Oxnard Union High School District</name>
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          <isin value="US692039RR33"/>
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      <invstOrSec>
        <name>Rancho Water District Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US752111NW09"/>
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      <invstOrSec>
        <name>Riverside Community College District</name>
        <lei>N/A</lei>
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          <isin value="US76886PJQ72"/>
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        <curCd>USD</curCd>
        <valUSD>1913490.00000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-08-01</maturityDt>
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      <invstOrSec>
        <name>Norman Y Mineta San Jose International Airport SJC</name>
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          <isin value="US798136VR59"/>
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          <maturityDt>2037-03-01</maturityDt>
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      <invstOrSec>
        <name>Simi Valley Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US828641YJ34"/>
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          <maturityDt>2038-08-01</maturityDt>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
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        <valUSD>480428.00000000</valUSD>
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          <maturityDt>2027-08-01</maturityDt>
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      <invstOrSec>
        <name>Burlingame School District</name>
        <lei>N/A</lei>
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        <name>San Mateo Foster City School District/CA</name>
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        <name>San Mateo Foster City School District/CA</name>
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        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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        <name>Ukiah Unified School District/CA</name>
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        <name>Madera Unified School District</name>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Monterey Park CA</name>
        <lei>N/A</lei>
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          <isin value="US61255QAN60"/>
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        <valUSD>748425.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-01</maturityDt>
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      <invstOrSec>
        <name>Baldwin Park Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US058219VH68"/>
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        <curCd>USD</curCd>
        <valUSD>219916.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13080SGP39"/>
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        <curCd>USD</curCd>
        <valUSD>548985.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sonoma Valley Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US835631PP18"/>
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        <curCd>USD</curCd>
        <valUSD>593205.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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          <isin value="US13048VTJ79"/>
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        <curCd>USD</curCd>
        <valUSD>1869156.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Byron Union School District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST</title>
        <cusip>13063B3T7</cusip>
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          <isin value="US13063B3T71"/>
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        <balance>250000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vista Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US928346PG42"/>
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        <balance>155000.00000000</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>2032-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Oroville CA</name>
        <lei>N/A</lei>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5692800.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-04-01</maturityDt>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
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        <cusip>130179TF1</cusip>
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          <isin value="US130179TF10"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>South Orange County Public Financing Authority</name>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-12-31</maturityDt>
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      <invstOrSec>
        <name>City of Irvine CA</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>State of California</name>
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        <name>Long Beach Unified School District</name>
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        <name>City &amp; County of San Francisco CA</name>
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      <invstOrSec>
        <name>Geyserville Unified School District</name>
        <lei>N/A</lei>
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          <maturityDt>2031-12-01</maturityDt>
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        <name>San Mateo Foster City School District/CA</name>
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        <name>Oak Grove School District</name>
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        <name>State of California</name>
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        <name>California Municipal Finance Authority</name>
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        <name>San Mateo Foster City School District/CA</name>
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        <name>California State University</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Mountain View-Whisman School District</name>
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        <name>Tustin Unified School District</name>
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      <invstOrSec>
        <name>San Francisco Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US79771TNK96"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Pasadena CA Water Revenue</name>
        <lei>N/A</lei>
        <title>PASADENA CA WTR REVENUE</title>
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          <isin value="US702285HC48"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1974915.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco Bay Area Rapid Transit District</name>
        <lei>549300Y3C3QUMLE3FY58</lei>
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        <cusip>797661ZV0</cusip>
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          <isin value="US797661ZV05"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chino Valley Unified School District</name>
        <lei>N/A</lei>
        <title>CHINO VLY CA UNIF SCH DIST</title>
        <cusip>169583GY1</cusip>
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          <isin value="US169583GY10"/>
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        <balance>925000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1216384.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Carlsbad Unified School District</name>
        <lei>N/A</lei>
        <title>CARLSBAD CA UNIF SCH DIST</title>
        <cusip>142665GT9</cusip>
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          <isin value="US142665GT98"/>
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        <balance>580000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>640563.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sacramento Municipal Utility District</name>
        <lei>E3GSVR6ZOU1MX2V7HF33</lei>
        <title>SACRAMENTO CA MUNI UTILITY DIST ELEC REVENUE</title>
        <cusip>786005C30</cusip>
        <identifiers>
          <isin value="US786005C309"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9332750.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lake Elsinore School Financing Authority</name>
        <lei>N/A</lei>
        <title>LAKE ELSINORE CA SCH FING AUTH</title>
        <cusip>50964BDD3</cusip>
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          <isin value="US50964BDD38"/>
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        <balance>1570000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1990336.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>CALIFORNIA ST INFRASTRUCTURE &amp; ECON DEV BANK REVENUE</title>
        <cusip>13034AJ50</cusip>
        <identifiers>
          <isin value="US13034AJ500"/>
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        <balance>705000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>938390.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048VKU1</cusip>
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          <isin value="US13048VKU16"/>
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        <balance>755000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>863712.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sacramento Municipal Utility District</name>
        <lei>E3GSVR6ZOU1MX2V7HF33</lei>
        <title>SACRAMENTO CA MUNI UTILITY DIST ELEC REVENUE</title>
        <cusip>786005YT9</cusip>
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          <isin value="US786005YT99"/>
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        <balance>1080000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1086264.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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          <isin value="US544445FD67"/>
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        <balance>1675000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>City of San Luis Obispo CA Community Facilities District No 2019-1</name>
        <lei>N/A</lei>
        <title>SAN LUIS OBISPO CA CMNTY FACS DIST #2019-1 SPL TAX</title>
        <cusip>798601AU4</cusip>
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          <isin value="US798601AU48"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-09-01</maturityDt>
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        <name>San Juan Unified School District</name>
        <lei>N/A</lei>
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        <name>Albany Unified School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>San Francisco Bay Area Rapid Transit District</name>
        <lei>549300Y3C3QUMLE3FY58</lei>
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          <maturityDt>2034-08-01</maturityDt>
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      <invstOrSec>
        <name>Upper Santa Clara Valley Joint Powers Authority</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2045-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Franklin-Mckinley School District</name>
        <lei>N/A</lei>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City &amp; County of San Francisco CA</name>
        <lei>549300RA28ZEFOB6M782</lei>
        <title>SAN FRANCISCO CITY &amp; CNTY CA</title>
        <cusip>7976467D2</cusip>
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        <name>San Mateo Foster City School District/CA</name>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
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        <name>City of Oceanside CA Water Revenue</name>
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          <isin value="US675413DM76"/>
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        <name>Independent Cities Finance Authority</name>
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          <isin value="US45385LNH23"/>
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        <curCd>USD</curCd>
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          <maturityDt>2056-06-15</maturityDt>
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          <annualizedRt>3.20000000</annualizedRt>
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        <name>Rio Elementary School District Community Facilities District</name>
        <lei>N/A</lei>
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          <isin value="US767027ED38"/>
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        <name>Sonoma Valley Unified School District</name>
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        <name>Liberty Union High School District</name>
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        <name>Folsom Ranch Financing Authority</name>
        <lei>N/A</lei>
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        <name>Moreland School District</name>
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        <name>Sonoma Valley Unified School District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>City of Irvine CA</name>
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        <name>Moreland School District</name>
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        <name>Beverly Hills Public Financing Authority</name>
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        <securityLending>
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      <invstOrSec>
        <name>Cotati-Rohnert Park Unified School District</name>
        <lei>N/A</lei>
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        <cusip>221623YW5</cusip>
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          <isin value="US221623YW52"/>
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        <curCd>USD</curCd>
        <valUSD>1219015.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Baldwin Park Unified School District</name>
        <lei>N/A</lei>
        <title>BALDWIN PARK CA UNIF SCH DIST</title>
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          <isin value="US058219VK97"/>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>353600.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chula Vista Municipal Financing Authority</name>
        <lei>N/A</lei>
        <title>CHULA VISTA CA MUNI FING AUTH SPL TAX REVENUE</title>
        <cusip>17131CAS8</cusip>
        <identifiers>
          <isin value="US17131CAS89"/>
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        <balance>1525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1684515.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco City &amp; County Redevelopment Agency Successor Agency</name>
        <lei>5493001TPOZL3UK8DX25</lei>
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        <cusip>79770GES1</cusip>
        <identifiers>
          <isin value="US79770GES12"/>
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        <balance>1630000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1910914.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Madera Unified School District</name>
        <lei>N/A</lei>
        <title>MADERA CA UNIF SCH DIST</title>
        <cusip>556452HU7</cusip>
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          <isin value="US556452HU76"/>
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        <balance>355000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>420163.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tamalpais Union High School District</name>
        <lei>N/A</lei>
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        <cusip>874857LA1</cusip>
        <identifiers>
          <isin value="US874857LA15"/>
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        <balance>695000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>684324.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.51400000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048TN25</cusip>
        <identifiers>
          <isin value="US13048TN254"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>933664.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dublin-San Ramon Services District Water Revenue</name>
        <lei>N/A</lei>
        <title>DUBLIN SAN RAMON CA SVCS DIST WTR REVENUE</title>
        <cusip>26371UBK4</cusip>
        <identifiers>
          <isin value="US26371UBK43"/>
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        <balance>980000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1227744.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Old Adobe Union School District</name>
        <lei>N/A</lei>
        <title>OLD ADOBE CA UNION SCH DIST</title>
        <cusip>679502JL9</cusip>
        <identifiers>
          <isin value="US679502JL91"/>
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        <balance>2625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3035891.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELEC PWR AUTH PWR REVENUE</title>
        <cusip>74526QDD1</cusip>
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          <isin value="US74526QDD16"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>306993.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Rafael City Elementary School District</name>
        <lei>N/A</lei>
        <title>SAN RAFAEL CA ELEM SCH DIST</title>
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          <isin value="US799306PF61"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>625650.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Porterville Unified School District</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>279472.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Ohlone Community College District</name>
        <lei>N/A</lei>
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          <isin value="US677765HD40"/>
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        <curCd>USD</curCd>
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          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>1.84300000</annualizedRt>
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        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US376087FF40"/>
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        <balance>245000.00000000</balance>
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        <name>Madera Unified School District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>County of Orange CA Airport Revenue</name>
        <lei>N/A</lei>
        <title>ORANGE CNTY CA ARPT REVENUE</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2021-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Fresno Unified School District</name>
        <lei>549300WL4QIP65TFU882</lei>
        <title>FRESNO CA UNIF SCH DIST</title>
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        <balance>565000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Galt Joint Union High School District</name>
        <lei>N/A</lei>
        <title>GALT CA JT UNION HIGH SCH DIST</title>
        <cusip>364118GL7</cusip>
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          <isin value="US364118GL73"/>
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        <name>Southern California Public Power Authority</name>
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        <name>Byron Union School District</name>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
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        <name>California School Finance Authority</name>
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        <name>Byron Union School District</name>
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        <name>Geyserville Unified School District</name>
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        <name>California Health Facilities Financing Authority</name>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048TVD2</cusip>
        <identifiers>
          <isin value="US13048TVD26"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>167068.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sacramento Municipal Utility District</name>
        <lei>E3GSVR6ZOU1MX2V7HF33</lei>
        <title>SACRAMENTO CA MUNI UTILITY DIST ELEC REVENUE</title>
        <cusip>786005C71</cusip>
        <identifiers>
          <isin value="US786005C713"/>
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        <balance>1575000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1920019.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Moreland School District</name>
        <lei>N/A</lei>
        <title>MORELAND CA SCH DIST</title>
        <cusip>616794VL4</cusip>
        <identifiers>
          <isin value="US616794VL45"/>
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        <balance>575000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>576328.25000000</valUSD>
        <pctVal>0.079171856524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of San Luis Obispo CA Community Facilities District No 2019-1</name>
        <lei>N/A</lei>
        <title>SAN LUIS OBISPO CA CMNTY FACS DIST #2019-1 SPL TAX</title>
        <cusip>798601AP5</cusip>
        <identifiers>
          <isin value="US798601AP52"/>
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        <balance>175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203164.50000000</valUSD>
        <pctVal>0.027909287189</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST</title>
        <cusip>13063CFF2</cusip>
        <identifiers>
          <isin value="US13063CFF23"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000700.00000000</valUSD>
        <pctVal>0.137469014964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.41000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tustin Unified School District</name>
        <lei>N/A</lei>
        <title>TUSTIN CA UNIF SCH DIST SCH FACS IMPT DIST</title>
        <cusip>901072LK2</cusip>
        <identifiers>
          <isin value="US901072LK21"/>
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        <balance>590000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>595044.50000000</valUSD>
        <pctVal>0.081742961202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.95400000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST EDUCTNL FACS AUTH REVENUE</title>
        <cusip>130179TB0</cusip>
        <identifiers>
          <isin value="US130179TB06"/>
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        <balance>665000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>689332.35000000</valUSD>
        <pctVal>0.094695552251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>County of Santa Clara CA</name>
        <lei>N/A</lei>
        <title>SANTA CLARA CNTY CA</title>
        <cusip>801546QL9</cusip>
        <identifiers>
          <isin value="US801546QL90"/>
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        <balance>1605000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1889406.00000000</valUSD>
        <pctVal>0.259553094521</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA SCH FIN AUTH SCH FAC REVENUE</title>
        <cusip>13059TGT0</cusip>
        <identifiers>
          <isin value="US13059TGT07"/>
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        <balance>110000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>131279.50000000</valUSD>
        <pctVal>0.018034239582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Norman Y Mineta San Jose International Airport SJC</name>
        <lei>N/A</lei>
        <title>SAN JOSE CA ARPT REVENUE</title>
        <cusip>798136WU7</cusip>
        <identifiers>
          <isin value="US798136WU79"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>841005.00000000</valUSD>
        <pctVal>0.115531257050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eastern Municipal Water District</name>
        <lei>549300ZCFVRFDIRWK089</lei>
        <title>ESTRN CA MUNI WTR DIST WTR &amp; WSTWTR REVENUE</title>
        <cusip>27627TBF8</cusip>
        <identifiers>
          <isin value="US27627TBF84"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>597265.00000000</valUSD>
        <pctVal>0.082047997624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELEC PWR AUTH PWR REVENUE</title>
        <cusip>74526QCL4</cusip>
        <identifiers>
          <isin value="US74526QCL41"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>127266.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
        <title>GILROY CA UNIF SCH DIST</title>
        <cusip>376087HC9</cusip>
        <identifiers>
          <isin value="US376087HC90"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>471592.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mount San Jacinto Community College District</name>
        <lei>N/A</lei>
        <title>MOUNT SAN JACINTO CA CMNTY CLG DIST</title>
        <cusip>623053CK9</cusip>
        <identifiers>
          <isin value="US623053CK90"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1013958.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
        <title>UNIV OF CALIFORNIA CA REVENUES</title>
        <cusip>91412GH57</cusip>
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          <isin value="US91412GH579"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7257000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA PUBLIC FIN AUTH REVENUE</title>
        <cusip>13057EAR5</cusip>
        <identifiers>
          <isin value="US13057EAR53"/>
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        <balance>425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>507433.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southern California Public Power Authority</name>
        <lei>5493003B5TD5FWUKMD34</lei>
        <title>STHRN CA PUBLIC PWR AUTH REVENUE</title>
        <cusip>84247PMG3</cusip>
        <identifiers>
          <isin value="US84247PMG36"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>918877.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tustin Unified School District</name>
        <lei>N/A</lei>
        <title>TUSTIN CA UNIF SCH DIST SCH FACS IMPT DIST</title>
        <cusip>901072KV9</cusip>
        <identifiers>
          <isin value="US901072KV94"/>
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        <balance>1230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1230196.80000000</valUSD>
        <pctVal>0.168995645356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.65400000</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>Albany Unified School District</name>
        <lei>N/A</lei>
        <title>ALBANY CA UNIF SCH DIST</title>
        <cusip>012104SP1</cusip>
        <identifiers>
          <isin value="US012104SP19"/>
        </identifiers>
        <balance>615000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>741364.05000000</valUSD>
        <pctVal>0.101843295376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST</title>
        <cusip>13063DLW6</cusip>
        <identifiers>
          <isin value="US13063DLW64"/>
        </identifiers>
        <balance>2260000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2909591.80000000</valUSD>
        <pctVal>0.399698929444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Fontana CA</name>
        <lei>N/A</lei>
        <title>FONTANA CA SPL TAX</title>
        <cusip>344630YR3</cusip>
        <identifiers>
          <isin value="US344630YR35"/>
        </identifiers>
        <balance>125000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>142346.25000000</valUSD>
        <pctVal>0.019554510613</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Los Angeles County Community Facilities District No 3</name>
        <lei>N/A</lei>
        <title>LOS ANGELES CNTY CA CMNTY FACS DIST #3</title>
        <cusip>54466PFT0</cusip>
        <identifiers>
          <isin value="US54466PFT03"/>
        </identifiers>
        <balance>520000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>524165.20000000</valUSD>
        <pctVal>0.072006069474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-01</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>State of California</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST</title>
        <cusip>13063DUN6</cusip>
        <identifiers>
          <isin value="US13063DUN64"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2615740.00000000</valUSD>
        <pctVal>0.359331669034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-01</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>Brisbane Elementary School District</name>
        <lei>N/A</lei>
        <title>BRISBANE CA SCH DIST</title>
        <cusip>10973RCE0</cusip>
        <identifiers>
          <isin value="US10973RCE09"/>
        </identifiers>
        <balance>155000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>183065.85000000</valUSD>
        <pctVal>0.025148278278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>
    </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>2021-07-26</ncom:dateSigned>
      <ncom:nameOfApplicant>EATON VANCE MUNICIPALS TRUST</ncom:nameOfApplicant>
      <ncom:signature>James Kirchner</ncom:signature>
      <ncom:signerName>James Kirchner</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
