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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>DELAWARE RIVER PRT</name>
        <lei>549300OBM31KJO8JR048</lei>
        <title>DELAWARE RIVER PORT AUTHORITY</title>
        <cusip>246352JK5</cusip>
        <identifiers>
          <isin value="US246352JK59"/>
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        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1105430.700000</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>2040-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</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>ESSEX CNTY NJ IMPT FRNDS OF TEAM CHRT SC</name>
        <lei>N/A</lei>
        <title>ESSEX COUNTY IMPROVEMENT AUTHORITY</title>
        <cusip>29681CBH0</cusip>
        <identifiers>
          <isin value="US29681CBH07"/>
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        <balance>2740000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2305454.630000</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>2056-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.0000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ESSEX CO IMPT CHRT SC NRTH STR A 144A</name>
        <lei>N/A</lei>
        <title>ESSEX COUNTY IMPROVEMENT AUTHORITY</title>
        <cusip>29681CBK3</cusip>
        <identifiers>
          <isin value="US29681CBK36"/>
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        <balance>500000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>486595.450000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ESSEX CNTY NJ IMPT FRNDS OF TEAM CHRT SC</name>
        <lei>N/A</lei>
        <title>ESSEX COUNTY IMPROVEMENT AUTHORITY</title>
        <cusip>29681CBG2</cusip>
        <identifiers>
          <isin value="US29681CBG24"/>
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        <balance>2100000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1814297.100000</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>2051-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.0000000000</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>ESSEX CO IMPT CHRT SC NRTH STR A 144A</name>
        <lei>N/A</lei>
        <title>ESSEX COUNTY IMPROVEMENT AUTHORITY</title>
        <cusip>29681CBL1</cusip>
        <identifiers>
          <isin value="US29681CBL19"/>
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        <balance>775000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>738407.210000</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>2064-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</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>GARDEN ST NJ PRESERV FRMLND A</name>
        <lei>N/A</lei>
        <title>GARDEN STATE PRESERVATION TRUST</title>
        <cusip>365418BX9</cusip>
        <identifiers>
          <isin value="US365418BX94"/>
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        <balance>565000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>589748.700000</valUSD>
        <pctVal>0.1536813958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.7500000000</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>GLOUCESTER CO NJ ROWN UNI PROJ</name>
        <lei>N/A</lei>
        <title>GLOUCESTER COUNTY IMPROVEMENT AUTHORITY/THE</title>
        <cusip>37970PLW0</cusip>
        <identifiers>
          <isin value="US37970PLW04"/>
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        <balance>1250000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1278973.630000</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>2054-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</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>GUAM PWR AUTH REF SER A</name>
        <lei>549300IPOV320QCKW060</lei>
        <title>GUAM POWER AUTHORITY</title>
        <cusip>400653KF7</cusip>
        <identifiers>
          <isin value="US400653KF78"/>
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        <balance>1255000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1317185.250000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</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>HUDSON CO NJ VO TECH SCHS SECURED</name>
        <lei>N/A</lei>
        <title>HUDSON COUNTY IMPROVEMENT AUTHORITY</title>
        <cusip>443730MH6</cusip>
        <identifiers>
          <isin value="US443730MH63"/>
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        <balance>6000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6003884.400000</valUSD>
        <pctVal>1.5645398366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2500000000</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>JERSEY CITY NJ MUNI UTILITIES AUTH SER D</name>
        <lei>N/A</lei>
        <title>JERSEY CITY MUNICIPAL UTILITIES AUTHORITY</title>
        <cusip>476624EL1</cusip>
        <identifiers>
          <isin value="US476624EL17"/>
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        <balance>425000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>475500.030000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.7500000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JERSEY CITY NJ MUNI UTILITIES AUTH SER E</name>
        <lei>N/A</lei>
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        <cusip>476623DW0</cusip>
        <identifiers>
          <isin value="US476623DW08"/>
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        <balance>725000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>811147.110000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.7500000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MIDDLESEX CO NJ IMPT LEASE REV PROJ SER</name>
        <lei>549300QDGS1CLXDHV188</lei>
        <title>MIDDLESEX COUNTY IMPROVEMENT AUTHORITY</title>
        <cusip>596564RX4</cusip>
        <identifiers>
          <isin value="US596564RX49"/>
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        <balance>2000000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2083107.400000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</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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        <name>NJ ST ECON PORT NEWARK CONT TERMINAL AMT</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY</title>
        <cusip>64578CCE9</cusip>
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          <isin value="US64578CCE93"/>
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        <balance>1870000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1894268.300000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
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        <name>NJ ST EDA PROV GRP ROWAN UNIV HSG SR A</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY</title>
        <cusip>64577BHV9</cusip>
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          <isin value="US64577BHV99"/>
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        <balance>400000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>400559.200000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
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        <name>NJ ECON DEV AUTH GOETHALS BRIDGE AMT</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY</title>
        <cusip>6459182D4</cusip>
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          <isin value="US6459182D47"/>
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        <balance>7625000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7633434.780000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.3750000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NJ ECO DEV AUTH</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY</title>
        <cusip>645912GA8</cusip>
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          <isin value="US645912GA84"/>
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        <balance>1730000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1757960.090000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NJ ECON DEV TEAM CHTR ACDMY PROJ SER A</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY</title>
        <cusip>645912FL5</cusip>
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          <isin value="US645912FL58"/>
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        <balance>500000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>501579.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <name>NJ HLTHCARE FACS RWJ BARNABAS OBL SER A</name>
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        <name>NJ ST HLTH CA FACS FING AHS GRP</name>
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        <name>NJ HLTHCARE FAC VALLEY HLTH SYS OBL GRP</name>
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        <name>NJ ST HLTH CARE HACKENSACK MERIDN SER A</name>
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        <name>NJ HLTH CARE FAC INSPIRA OBLI GRP SER A</name>
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        <name>NJ HLTH FACS AHS HOSP SR A</name>
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      </invstOrSec>
      <invstOrSec>
        <name>NJ ST HLTH CARE HACKENSACK MERIDN SER A</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>NJ HLTH VIRTUA HLTH B DLY</name>
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        <name>NJ HLTH CARE FAC INSPIRA OBLI GRP SER A</name>
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        <name>NJ HLTHCARE VIRTUA HLTH C DLY</name>
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        <name>NJ ST HCFFA PRINCETON HLTH SYS SER A</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
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      <invstOrSec>
        <name>NJ HLTH CARE FACS FIN</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>1929990.530000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>NJ HLTH CARE FACS-B-3</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>NJ HLTH CARE-A-REF</name>
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        <name>NJ HLTH CARE FACS-A</name>
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        <name>NJ HLTHCARE FACS ST JOSEPHS OBLIG GROUP</name>
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        <name>NJ ST HGHR ED ASS AUTH ST LN SER A AMT</name>
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        <name>NJ ST HGHR ED ASS AUTH ST LN SER C AMT</name>
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        <name>NJ ST TRNSPRTN TRST FND AUTH SER A</name>
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        <title>NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY</title>
        <cusip>64613CCV8</cusip>
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          <isin value="US64613CCV81"/>
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        <valUSD>822283.430000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NJ ST TRNSPRTN TRST FND AUTH SER A</name>
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        <cusip>64613CCW6</cusip>
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          <isin value="US64613CCW64"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NJ ST TRNSPRTN TRST FND AUTH SER CC</name>
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          <isin value="US64613CGF95"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NJ ST TRNSPRTN TRST FND AUTH SER CC PRE</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY</title>
        <cusip>64613CCL0</cusip>
        <identifiers>
          <isin value="US64613CCL00"/>
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        <curCd>USD</curCd>
        <valUSD>4671280.000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-15</maturityDt>
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          <annualizedRt>5.5000000000</annualizedRt>
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      <invstOrSec>
        <name>NJ ST TRNSPRTN TRST FND AUTH SER BB</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY</title>
        <cusip>64613CBM9</cusip>
        <identifiers>
          <isin value="US64613CBM91"/>
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        <curCd>USD</curCd>
        <valUSD>654576.020000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.0000000000</annualizedRt>
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      <invstOrSec>
        <name>NJ ST TTFA CAP APPRC SR A BAM-TCRS</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY</title>
        <cusip>6461362S9</cusip>
        <identifiers>
          <isin value="US6461362S97"/>
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        <balance>5000000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2993148.500000</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>2039-12-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.0000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NJ ST TRNSPRTN TRST FUND AUTH SER A</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY</title>
        <cusip>64613CEX2</cusip>
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          <isin value="US64613CEX20"/>
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        <curCd>USD</curCd>
        <valUSD>543407.800000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NJ ST TURNPIKE AUTH REV SER B</name>
        <lei>5493005YN67D71KSMI84</lei>
        <title>NEW JERSEY TURNPIKE AUTHORITY</title>
        <cusip>646140FZ1</cusip>
        <identifiers>
          <isin value="US646140FZ13"/>
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        <curCd>USD</curCd>
        <valUSD>3238294.490000</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>2054-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2500000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NJ ST TURNPIKE AUTH REV SER B</name>
        <lei>5493005YN67D71KSMI84</lei>
        <title>NEW JERSEY TURNPIKE AUTHORITY</title>
        <cusip>646140EU3</cusip>
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          <isin value="US646140EU35"/>
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        <curCd>USD</curCd>
        <valUSD>1500361.130000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2500000000</annualizedRt>
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      <invstOrSec>
        <name>NJ TPK AUTH-A-REV</name>
        <lei>5493005YN67D71KSMI84</lei>
        <title>NEW JERSEY TURNPIKE AUTHORITY</title>
        <cusip>646140JB0</cusip>
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          <isin value="US646140JB09"/>
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        <curCd>USD</curCd>
        <valUSD>2528269.400000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
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      <invstOrSec>
        <name>NJ ST TURNPIKE AUTH REV SER A</name>
        <lei>5493005YN67D71KSMI84</lei>
        <title>NEW JERSEY TURNPIKE AUTHORITY</title>
        <cusip>646140DJ9</cusip>
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          <isin value="US646140DJ98"/>
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        <curCd>USD</curCd>
        <valUSD>1002641.200000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.0000000000</annualizedRt>
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      <invstOrSec>
        <name>NJ ST TURNPIKE AUTH REV SER C</name>
        <lei>5493005YN67D71KSMI84</lei>
        <title>NEW JERSEY TURNPIKE AUTHORITY</title>
        <cusip>646140GD9</cusip>
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          <isin value="US646140GD91"/>
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        <curCd>USD</curCd>
        <valUSD>3209609.400000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
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      <invstOrSec>
        <name>NJ ST TURNPIKE AUTH REV SER A</name>
        <lei>5493005YN67D71KSMI84</lei>
        <title>NEW JERSEY TURNPIKE AUTHORITY</title>
        <cusip>646140DD2</cusip>
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          <isin value="US646140DD29"/>
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        <curCd>USD</curCd>
        <valUSD>10230518.000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-01</maturityDt>
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          <annualizedRt>5.0000000000</annualizedRt>
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      <invstOrSec>
        <name>NJ ST TURNPIKE AUTH REV SER B</name>
        <lei>5493005YN67D71KSMI84</lei>
        <title>NEW JERSEY TURNPIKE AUTHORITY</title>
        <cusip>646140FY4</cusip>
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          <isin value="US646140FY48"/>
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        <valUSD>1021784.640000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.1250000000</annualizedRt>
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      <invstOrSec>
        <name>NJ TPK AUTH -B -REV</name>
        <lei>5493005YN67D71KSMI84</lei>
        <title>NEW JERSEY TURNPIKE AUTHORITY</title>
        <cusip>646140FX6</cusip>
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          <isin value="US646140FX64"/>
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        <curCd>USD</curCd>
        <valUSD>2130743.800000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2500000000</annualizedRt>
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      <invstOrSec>
        <name>NJ ST TURNPIKE AUTH SER B</name>
        <lei>5493005YN67D71KSMI84</lei>
        <title>NEW JERSEY TURNPIKE AUTHORITY</title>
        <cusip>6461397M1</cusip>
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          <isin value="US6461397M19"/>
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        <balance>1000000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1023784.800000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEWARK NJ HSG NEWARK MARINE TERM PROJ</name>
        <lei>N/A</lei>
        <title>NEWARK HOUSING AUTHORITY</title>
        <cusip>65037RCU2</cusip>
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          <isin value="US65037RCU23"/>
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        <balance>1200000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1203187.320000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.0000000000</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>N HUDSON NJ SEWERAGE GROSS REV SR</name>
        <lei>N/A</lei>
        <title>NORTH HUDSON SEWERAGE AUTHORITY/NJ</title>
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      <invstOrSec>
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      <invstOrSec>
        <name>PORT AUTH NY &amp; NJ SER 245</name>
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        <name>PORT AUTH OF NEW YORK AMT</name>
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        <name>PORT AUTH NY &amp; NJ REF SER 207 AMT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PORT AUTH NY/NJ SR 93</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PORT AUTH NY &amp; NJ AMT SER 246</name>
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        <name>PORT AUTH NY &amp; NJ SER 234 AMT</name>
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        <name>PORT AUTH OF NEW YORK AMT</name>
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        <name>PORT AUTH NY &amp; NJ REF-CONSOL-SER 183</name>
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        <name>PORT AUTH NY &amp; NJ REF-CONSOL-205TH SR</name>
        <lei>54930006MR4KZ4W74Z83</lei>
        <title>PORT AUTHORITY OF NEW YORK &amp; NEW JERSEY</title>
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        <name>PORT AUTH OF NEW YORK AMT</name>
        <lei>54930006MR4KZ4W74Z83</lei>
        <title>PORT AUTHORITY OF NEW YORK &amp; NEW JERSEY</title>
        <cusip>73358W4A9</cusip>
        <identifiers>
          <isin value="US73358W4A94"/>
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        <balance>1750000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1800900.500000</valUSD>
        <pctVal>0.4692929421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</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>PORT AUTH NY &amp; NJ CONS SER 221 AMT</name>
        <lei>54930006MR4KZ4W74Z83</lei>
        <title>PORT AUTHORITY OF NEW YORK &amp; NEW JERSEY</title>
        <cusip>73358W5T7</cusip>
        <identifiers>
          <isin value="US73358W5T76"/>
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        <balance>2075000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1862967.990000</valUSD>
        <pctVal>0.4854669811</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.0000000000</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>PORT AUTH OF NY &amp; NJ SER 227 AMT</name>
        <lei>54930006MR4KZ4W74Z83</lei>
        <title>PORT AUTHORITY OF NEW YORK &amp; NEW JERSEY</title>
        <cusip>73358XCR1</cusip>
        <identifiers>
          <isin value="US73358XCR17"/>
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        <balance>555000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>553617.220000</valUSD>
        <pctVal>0.1442659680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.0000000000</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>PRINCETON NJ</name>
        <lei>N/A</lei>
        <title>PRINCETON NJ</title>
        <cusip>742287DW2</cusip>
        <identifiers>
          <isin value="US742287DW26"/>
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        <balance>2310000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2155207.130000</valUSD>
        <pctVal>0.5616209751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.0000000000</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>PR AQUEDCT &amp; SWR REV SR LIEN SER A 144A</name>
        <lei>N/A</lei>
        <title>PUERTO RICO COMMONWEALTH AQUEDUCT &amp; SEWER AUTHORITY</title>
        <cusip>745160SH5</cusip>
        <identifiers>
          <isin value="US745160SH56"/>
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        <balance>440000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>456316.700000</valUSD>
        <pctVal>0.1189106265</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</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>PR ELEC PWR AUTH REV SER ZZ</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QXP2</cusip>
        <identifiers>
          <isin value="US74526QXP26"/>
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        <balance>20000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14700.000000</valUSD>
        <pctVal>0.0038306426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2500000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH REV SER CCC</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QYY2</cusip>
        <identifiers>
          <isin value="US74526QYY24"/>
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        <balance>150000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>110250.000000</valUSD>
        <pctVal>0.0287298198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2500000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</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>PR ELEC PWR REV SR ZZ</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QXS6</cusip>
        <identifiers>
          <isin value="US74526QXS64"/>
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        <balance>20000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14700.000000</valUSD>
        <pctVal>0.0038306426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2017-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PREPA-SER A-PSA</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526YFH3</cusip>
        <identifiers>
          <isin value="US74526YFH36"/>
        </identifiers>
        <balance>375000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>280312.500000</valUSD>
        <pctVal>0.0730460555</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.2500000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH REV SER ZZ</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QWM0</cusip>
        <identifiers>
          <isin value="US74526QWM04"/>
        </identifiers>
        <balance>10000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7350.000000</valUSD>
        <pctVal>0.0019153213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2017-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.7000000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH REV SER TT</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QKT8</cusip>
        <identifiers>
          <isin value="US74526QKT84"/>
        </identifiers>
        <balance>65000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47775.000000</valUSD>
        <pctVal>0.0124495886</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR-XX</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QWC2</cusip>
        <identifiers>
          <isin value="US74526QWC22"/>
        </identifiers>
        <balance>165000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>121275.000000</valUSD>
        <pctVal>0.0316028018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2500000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC-REF-DDD</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QZH8</cusip>
        <identifiers>
          <isin value="US74526QZH81"/>
        </identifiers>
        <balance>75000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55125.000000</valUSD>
        <pctVal>0.0143649099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.8750000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR-CCC</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QS52</cusip>
        <identifiers>
          <isin value="US74526QS524"/>
        </identifiers>
        <balance>30000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22050.000000</valUSD>
        <pctVal>0.0057459640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.8000000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PREPA-SER A-PSA</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526YDG7</cusip>
        <identifiers>
          <isin value="US74526YDG70"/>
        </identifiers>
        <balance>500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>367500.000000</valUSD>
        <pctVal>0.0957660660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR SER TT</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QKX9</cusip>
        <identifiers>
          <isin value="US74526QKX96"/>
        </identifiers>
        <balance>320000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>235200.000000</valUSD>
        <pctVal>0.0612902823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH REV SER TT</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QKU5</cusip>
        <identifiers>
          <isin value="US74526QKU57"/>
        </identifiers>
        <balance>80000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>58800.000000</valUSD>
        <pctVal>0.0153225706</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH REV SER ZZ</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QWY4</cusip>
        <identifiers>
          <isin value="US74526QWY42"/>
        </identifiers>
        <balance>15000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11025.000000</valUSD>
        <pctVal>0.0028729820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH REV SER ZZ</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QXN7</cusip>
        <identifiers>
          <isin value="US74526QXN77"/>
        </identifiers>
        <balance>45000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33075.000000</valUSD>
        <pctVal>0.0086189459</pctVal>
        <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>5.2500000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH SR WW</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QVC3</cusip>
        <identifiers>
          <isin value="US74526QVC31"/>
        </identifiers>
        <balance>160000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117600.000000</valUSD>
        <pctVal>0.0306451411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH REV SER TT</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QKN1</cusip>
        <identifiers>
          <isin value="US74526QKN15"/>
        </identifiers>
        <balance>50000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>36750.000000</valUSD>
        <pctVal>0.0095766066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH REV SER ZZ</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QXH0</cusip>
        <identifiers>
          <isin value="US74526QXH00"/>
        </identifiers>
        <balance>165000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>121275.000000</valUSD>
        <pctVal>0.0316028018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2500000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR REV SR WW</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QVD1</cusip>
        <identifiers>
          <isin value="US74526QVD14"/>
        </identifiers>
        <balance>175000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>128625.000000</valUSD>
        <pctVal>0.0335181231</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2500000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH SER XX</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QVX7</cusip>
        <identifiers>
          <isin value="US74526QVX77"/>
        </identifiers>
        <balance>50000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>36750.000000</valUSD>
        <pctVal>0.0095766066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2500000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH REV SER CCC</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QYZ9</cusip>
        <identifiers>
          <isin value="US74526QYZ98"/>
        </identifiers>
        <balance>40000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>29400.000000</valUSD>
        <pctVal>0.0076612853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2500000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC SER TT</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QKP6</cusip>
        <identifiers>
          <isin value="US74526QKP62"/>
        </identifiers>
        <balance>135000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99225.000000</valUSD>
        <pctVal>0.0258568378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH REV SER CCC</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QYS5</cusip>
        <identifiers>
          <isin value="US74526QYS55"/>
        </identifiers>
        <balance>20000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14700.000000</valUSD>
        <pctVal>0.0038306426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH SER XX</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QWD0</cusip>
        <identifiers>
          <isin value="US74526QWD05"/>
        </identifiers>
        <balance>20000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14700.000000</valUSD>
        <pctVal>0.0038306426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2500000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH REV SER A</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QZY1</cusip>
        <identifiers>
          <isin value="US74526QZY15"/>
        </identifiers>
        <balance>10000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7350.000000</valUSD>
        <pctVal>0.0019153213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0500000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH REV SER WW</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QUU4</cusip>
        <identifiers>
          <isin value="US74526QUU48"/>
        </identifiers>
        <balance>45000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33075.000000</valUSD>
        <pctVal>0.0086189459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2018-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5000000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH REV SER TT</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QKV3</cusip>
        <identifiers>
          <isin value="US74526QKV31"/>
        </identifiers>
        <balance>10000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7350.000000</valUSD>
        <pctVal>0.0019153213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR ELEC PWR AUTH REV SER XX</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526QWE8</cusip>
        <identifiers>
          <isin value="US74526QWE87"/>
        </identifiers>
        <balance>35000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25725.000000</valUSD>
        <pctVal>0.0067036246</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.7500000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PREPA-SER EEE-PSA</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526YFA8</cusip>
        <identifiers>
          <isin value="US74526YFA82"/>
        </identifiers>
        <balance>100000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>73500.000000</valUSD>
        <pctVal>0.0191532132</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.0500000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PR SALES TAX FING SALES TAX REV SER A1</name>
        <lei>N/A</lei>
        <title>PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE</title>
        <cusip>74529JQG3</cusip>
        <identifiers>
          <isin value="US74529JQG30"/>
        </identifiers>
        <balance>4297000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1560653.210000</valUSD>
        <pctVal>0.4066873969</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.0000000000</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>PUERTO RICO SALES TAX RESTRUCT SER A-2</name>
        <lei>N/A</lei>
        <title>PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE</title>
        <cusip>74529JRL1</cusip>
        <identifiers>
          <isin value="US74529JRL16"/>
        </identifiers>
        <balance>330000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>317265.800000</valUSD>
        <pctVal>0.0826756396</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.7840000000</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>PUERTO RICO SALES TAX RESTRUCT SER A-2</name>
        <lei>N/A</lei>
        <title>PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE</title>
        <cusip>74529JRH0</cusip>
        <identifiers>
          <isin value="US74529JRH04"/>
        </identifiers>
        <balance>2746000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2734207.850000</valUSD>
        <pctVal>0.7125015770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.3290000000</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>PR SALES TAX FING SALES TAX REV SER A1</name>
        <lei>N/A</lei>
        <title>PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE</title>
        <cusip>74529JPW9</cusip>
        <identifiers>
          <isin value="US74529JPW98"/>
        </identifiers>
        <balance>2334000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2244282.670000</valUSD>
        <pctVal>0.5848329861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.7500000000</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>PUERTO RICO SALES TAX RESTRUCT SER A-2</name>
        <lei>N/A</lei>
        <title>PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE</title>
        <cusip>74529JRJ6</cusip>
        <identifiers>
          <isin value="US74529JRJ69"/>
        </identifiers>
        <balance>275000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>274105.480000</valUSD>
        <pctVal>0.0714285810</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.3290000000</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>PR SALES TAX FING SALES TAX REV SER A1</name>
        <lei>N/A</lei>
        <title>PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE</title>
        <cusip>74529JPV1</cusip>
        <identifiers>
          <isin value="US74529JPV16"/>
        </identifiers>
        <balance>2819000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2824460.680000</valUSD>
        <pctVal>0.7360203756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.5500000000</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>PR SALES TAX FING SALES TAX REV SER B2</name>
        <lei>N/A</lei>
        <title>PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE</title>
        <cusip>74529JRM9</cusip>
        <identifiers>
          <isin value="US74529JRM98"/>
        </identifiers>
        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>996747.200000</valUSD>
        <pctVal>0.2597402944</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.3290000000</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>PR SALES TAX FING SALES TAX REV SER A1</name>
        <lei>N/A</lei>
        <title>PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE</title>
        <cusip>74529JQF5</cusip>
        <identifiers>
          <isin value="US74529JQF56"/>
        </identifiers>
        <balance>1684000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1308720.430000</valUSD>
        <pctVal>0.3410367541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.0000000000</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>PR SALES TAX FING SALES TAX REV SER A1</name>
        <lei>N/A</lei>
        <title>PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE</title>
        <cusip>74529JQC2</cusip>
        <identifiers>
          <isin value="US74529JQC26"/>
        </identifiers>
        <balance>2145000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2073077.080000</valUSD>
        <pctVal>0.5402188750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.0000000000</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>PR SALES TAX FING-B1</name>
        <lei>N/A</lei>
        <title>PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE</title>
        <cusip>74529JQL2</cusip>
        <identifiers>
          <isin value="US74529JQL25"/>
        </identifiers>
        <balance>400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>384566.960000</valUSD>
        <pctVal>0.1002135099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.7500000000</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>RUTGERS UNIV NJ SR M</name>
        <lei>549300BOYDHNW8J60112</lei>
        <title>RUTGERS THE STATE UNIVERSITY OF NEW JERSEY</title>
        <cusip>783186TD1</cusip>
        <identifiers>
          <isin value="US783186TD19"/>
        </identifiers>
        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1001415.900000</valUSD>
        <pctVal>0.2609569013</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</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>SOMERSET CO NJ IMPT AUTH REF CNTY LEASE</name>
        <lei>N/A</lei>
        <title>SOMERSET COUNTY IMPROVEMENT AUTHORITY</title>
        <cusip>834666MS5</cusip>
        <identifiers>
          <isin value="US834666MS50"/>
        </identifiers>
        <balance>4000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3841900.400000</valUSD>
        <pctVal>1.0011528910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.0000000000</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>S JERSEY NJ PORT SUB MARINE AMT SER B</name>
        <lei>N/A</lei>
        <title>SOUTH JERSEY PORT CORP</title>
        <cusip>838530RH8</cusip>
        <identifiers>
          <isin value="US838530RH87"/>
        </identifiers>
        <balance>2500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2503572.000000</valUSD>
        <pctVal>0.6524006571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</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>S JERSEY NJ TRANSPRTN SYS REV SR A BAM</name>
        <lei>549300W8SZI2CAOKT956</lei>
        <title>SOUTH JERSEY TRANSPORTATION AUTHORITY</title>
        <cusip>838536NP1</cusip>
        <identifiers>
          <isin value="US838536NP10"/>
        </identifiers>
        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1108476.800000</valUSD>
        <pctVal>0.2888556801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</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>S JERSEY NJ TRANSPRTN</name>
        <lei>549300W8SZI2CAOKT956</lei>
        <title>SOUTH JERSEY TRANSPORTATION AUTHORITY</title>
        <cusip>838536MP2</cusip>
        <identifiers>
          <isin value="US838536MP29"/>
        </identifiers>
        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>996178.400000</valUSD>
        <pctVal>0.2595920720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.6250000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>S JERSEY NJ TRANSPRTN SYS REV SR A BAM</name>
        <lei>549300W8SZI2CAOKT956</lei>
        <title>SOUTH JERSEY TRANSPORTATION AUTHORITY</title>
        <cusip>838536NM8</cusip>
        <identifiers>
          <isin value="US838536NM88"/>
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        <balance>600000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>671771.040000</valUSD>
        <pctVal>0.1750554280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</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>NEW JERSEY ST</name>
        <lei>N/A</lei>
        <title>STATE OF NEW JERSEY</title>
        <cusip>646039ZJ9</cusip>
        <identifiers>
          <isin value="US646039ZJ96"/>
        </identifiers>
        <balance>3000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2401176.300000</valUSD>
        <pctVal>0.6257175731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.0000000000</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>TOB SETTLE FING CORP NJ SER A</name>
        <lei>N/A</lei>
        <title>TOBACCO SETTLEMENT FINANCING CORP</title>
        <cusip>888808HP0</cusip>
        <identifiers>
          <isin value="US888808HP06"/>
        </identifiers>
        <balance>1905000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1960242.900000</valUSD>
        <pctVal>0.5108156490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</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>TOB SETTLE FING CORP NJ SER B</name>
        <lei>N/A</lei>
        <title>TOBACCO SETTLEMENT FINANCING CORP</title>
        <cusip>888808HT2</cusip>
        <identifiers>
          <isin value="US888808HT28"/>
        </identifiers>
        <balance>4850000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4706810.540000</valUSD>
        <pctVal>1.2265380382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</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>TOB SETTLE FING CORP NJ SER A</name>
        <lei>N/A</lei>
        <title>TOBACCO SETTLEMENT FINANCING CORP</title>
        <cusip>888808HR6</cusip>
        <identifiers>
          <isin value="US888808HR61"/>
        </identifiers>
        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1001069.700000</valUSD>
        <pctVal>0.2608666857</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2500000000</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>CHERRY HILL TWP NJ</name>
        <lei>549300PWUU8HBZV2OJ44</lei>
        <title>TOWNSHIP OF CHERRY HILL NJ</title>
        <cusip>164663B70</cusip>
        <identifiers>
          <isin value="US164663B705"/>
        </identifiers>
        <balance>700000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>714898.520000</valUSD>
        <pctVal>0.1862939289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.0000000000</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>CHERRY HILL TWP NJ</name>
        <lei>549300PWUU8HBZV2OJ44</lei>
        <title>TOWNSHIP OF CHERRY HILL NJ</title>
        <cusip>164663B62</cusip>
        <identifiers>
          <isin value="US164663B622"/>
        </identifiers>
        <balance>700000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>717277.260000</valUSD>
        <pctVal>0.1869137999</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.0000000000</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>CHERRY HILL TWP NJ</name>
        <lei>549300PWUU8HBZV2OJ44</lei>
        <title>TOWNSHIP OF CHERRY HILL NJ</title>
        <cusip>164663B88</cusip>
        <identifiers>
          <isin value="US164663B887"/>
        </identifiers>
        <balance>700000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>711738.020000</valUSD>
        <pctVal>0.1854703408</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.0000000000</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>CHERRY HILL TWP NJ</name>
        <lei>549300PWUU8HBZV2OJ44</lei>
        <title>TOWNSHIP OF CHERRY HILL NJ</title>
        <cusip>164663B96</cusip>
        <identifiers>
          <isin value="US164663B960"/>
        </identifiers>
        <balance>700000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>709286.200000</valUSD>
        <pctVal>0.1848314260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.0000000000</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>FRANKLIN TWP NJ</name>
        <lei>N/A</lei>
        <title>TOWNSHIP OF FRANKLIN NJ/SOMERSET COUNTY</title>
        <cusip>355046NH2</cusip>
        <identifiers>
          <isin value="US355046NH26"/>
        </identifiers>
        <balance>1280000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1024000.260000</valUSD>
        <pctVal>0.2668421130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.0000000000</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>FRANKLIN TWP NJ</name>
        <lei>N/A</lei>
        <title>TOWNSHIP OF FRANKLIN NJ/SOMERSET COUNTY</title>
        <cusip>355046NE9</cusip>
        <identifiers>
          <isin value="US355046NE94"/>
        </identifiers>
        <balance>1255000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1069937.070000</valUSD>
        <pctVal>0.2788126914</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.0000000000</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>FRANKLIN TWP NJ</name>
        <lei>N/A</lei>
        <title>TOWNSHIP OF FRANKLIN NJ/SOMERSET COUNTY</title>
        <cusip>355046NG4</cusip>
        <identifiers>
          <isin value="US355046NG43"/>
        </identifiers>
        <balance>1280000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1045747.200000</valUSD>
        <pctVal>0.2725091032</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.0000000000</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>PISCATAWAY TOWNSHIP</name>
        <lei>N/A</lei>
        <title>TOWNSHIP OF PISCATAWAY NJ</title>
        <cusip>724292YV3</cusip>
        <identifiers>
          <isin value="US724292YV31"/>
        </identifiers>
        <balance>2300000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1927942.340000</valUSD>
        <pctVal>0.5023985128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.0000000000</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>PISCATAWAY TWP NJ REF</name>
        <lei>N/A</lei>
        <title>TOWNSHIP OF PISCATAWAY NJ</title>
        <cusip>724292XS1</cusip>
        <identifiers>
          <isin value="US724292XS11"/>
        </identifiers>
        <balance>1600000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1283377.600000</valUSD>
        <pctVal>0.3344327184</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.0000000000</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>UNION CNTY NJ IMPT AUTH</name>
        <lei>N/A</lei>
        <title>UNION COUNTY IMPROVEMENT AUTHORITY</title>
        <cusip>906347YX1</cusip>
        <identifiers>
          <isin value="US906347YX11"/>
        </identifiers>
        <balance>3000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2836505.400000</valUSD>
        <pctVal>0.7391590843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.1250000000</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>UNIV OF COLORADO HOSP REV SR C DLY</name>
        <lei>GQ60RLZ5ZEBY2J9KLI75</lei>
        <title>UNIVERSITY OF COLORADO HOSPITAL AUTHORITY</title>
        <cusip>914183BL1</cusip>
        <identifiers>
          <isin value="US914183BL13"/>
        </identifiers>
        <balance>3500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3500000.000000</valUSD>
        <pctVal>0.9120577718</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.8000000000</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>2026-07-02</ncom:dateSigned>
      <ncom:nameOfApplicant>T. ROWE PRICE STATE TAX-FREE FUNDS, INC.</ncom:nameOfApplicant>
      <ncom:signature>/s/ Alan Dupski</ncom:signature>
      <ncom:signerName>Alan Dupski</ncom:signerName>
      <ncom:title>Treasurer &amp; Vice President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
