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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MONROE CNTY NY INDL DEV CORP R</name>
        <lei>N/A</lei>
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          <isin value="US61075TRT78"/>
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        <curCd>USD</curCd>
        <valUSD>546787.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TRIBOROUGH NY BRIDGE &amp; TUNNEL</name>
        <lei>54930020ZN4LQF7K3456</lei>
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          <isin value="US89602HEQ65"/>
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        <curCd>USD</curCd>
        <valUSD>1121700.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>THE CHILDRENS TRUST FUND PR TO</name>
        <lei>N/A</lei>
        <title>Children's Trust Fund</title>
        <cusip>16876QBL2</cusip>
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          <isin value="US16876QBL23"/>
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        <balance>48900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3274344.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-05-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK ST LIBERTY DEV CORP L</name>
        <lei>N/A</lei>
        <title>New York Liberty Development Corp</title>
        <cusip>649519DA0</cusip>
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          <isin value="US649519DA03"/>
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        <balance>3800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3802090.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK CITY NY HSG DEV CORP</name>
        <lei>549300SQWVHKBRF8D702</lei>
        <title>New York City Housing Development Corp</title>
        <cusip>64972E4K2</cusip>
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          <isin value="US64972E4K24"/>
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        <balance>2125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2220795.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUERTO RICO ELEC PWR AUTH PWRR</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>Puerto Rico Electric Power Authority</title>
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          <isin value="US74526QVD14"/>
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        <balance>195000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>102375.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK NY</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>City of New York NY</title>
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          <isin value="US64966SHF65"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1697160.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUERTO RICO ELEC PWR AUTH PWRR</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>Puerto Rico Electric Power Authority</title>
        <cusip>74526QXP2</cusip>
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          <isin value="US74526QXP26"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26250.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>GDB DEBT RECOVERY AUTH OF CMWL</name>
        <lei>N/A</lei>
        <title>GDB Debt Recovery Authority of Puerto Rico</title>
        <cusip>36829QAB1</cusip>
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          <isin value="US36829QAB14"/>
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        <balance>430169.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>410811.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>NIAGARA NY AREA DEV CORP SOLID</name>
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          <isin value="US653542AC49"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1468050.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>NEW YORK ST THRUWAY AUTH PERSO</name>
        <lei>N/A</lei>
        <title>New York State Thruway Authority</title>
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          <isin value="US650028ZQ92"/>
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        <valUSD>1075980.00000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2055-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MET TRANSPRTN AUTH NY REVENUE</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
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          <isin value="US59261AL393"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2486800.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2043-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>NEW YORK CITY NY INDL DEV AGY</name>
        <lei>549300XR20ZR5DHL9534</lei>
        <title>New York City Industrial Development Agency</title>
        <cusip>64971PKH7</cusip>
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          <isin value="US64971PKH72"/>
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        <balance>1000000.00000000</balance>
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          <maturityDt>2040-03-01</maturityDt>
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        <name>NIAGARA NY FRONTIER TRANSPRTN</name>
        <lei>2549006J37UHUDTNJV60</lei>
        <title>Niagara Frontier Transportation Authority</title>
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          <isin value="US653544EB85"/>
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        <balance>775000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>803907.50000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2035-04-01</maturityDt>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority</title>
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          <isin value="US64990CLH24"/>
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        <balance>300000.00000000</balance>
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        <name>NEW YORK ST PWR AUTH REVENUE</name>
        <lei>I5P1GEYFGGMMDOFX2L30</lei>
        <title>New York Power Authority</title>
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        <valUSD>996320.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-11-15</maturityDt>
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      <invstOrSec>
        <name>BUFFALO &amp; ERIE CNTY NY INDL LA</name>
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          <isin value="US11943KBW18"/>
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        <balance>250000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
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          <maturityDt>2045-05-01</maturityDt>
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      <invstOrSec>
        <name>BUILD NYC RESOURCE CORP NY REV</name>
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          <maturityDt>2049-07-01</maturityDt>
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          <isin value="US12008EPN03"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-12-31</maturityDt>
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      <invstOrSec>
        <name>NEW YORK ST CONVENTION CENTER</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-07-01</maturityDt>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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          <isin value="US64990GGH92"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>PUERTO RICO ELEC PWR AUTH PWRR</name>
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        <title>Puerto Rico Electric Power Authority</title>
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          <isin value="US74526QA696"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
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        <name>NEW YORK NY</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-04-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>TRIBOROUGH NY BRIDGE &amp; TUNNEL</name>
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        <fairValLevel>2</fairValLevel>
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        <lei>549300C8XO7EXTX2XU71</lei>
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        <name>NEW YORK ST ENVRNMNTL FACS COR</name>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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        <name>BUILD NYC RESOURCE CORP NY REV</name>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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        <lei>549300C8XO7EXTX2XU71</lei>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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          <isin value="US59261AG500"/>
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        <debtSec>
          <maturityDt>2055-11-15</maturityDt>
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        <name>PUERTO RICO ELEC PWR AUTH PWRR</name>
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          <isin value="US74526QVX77"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>TSASC INC NY</name>
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          <isin value="US898526FF00"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BUILD NYC RESOURCE CORP NY REV</name>
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        <title>Build NYC Resource Corp</title>
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          <isin value="US12008EPS99"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-02-01</maturityDt>
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        <name>NEW YORK ST THRUWAY AUTH GEN R</name>
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          <maturityDt>2050-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>NEW YORK CITY NY MUNI WTR FIN</name>
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        <name>NEW YORK ST THRUWAY AUTH</name>
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        <name>NEW YORK ST DORM AUTH SALES TA</name>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
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      <invstOrSec>
        <name>NEW YORK ST PWR AUTH GREEN TRA</name>
        <lei>I5P1GEYFGGMMDOFX2L30</lei>
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          <isin value="US65000XBV10"/>
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      <invstOrSec>
        <name>TRIBOROUGH NY BRIDGE &amp; TUNNEL</name>
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          <isin value="US896035DH24"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>PUERTO RICO SALES TAX FING COR</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-07-01</maturityDt>
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      <invstOrSec>
        <name>BUFFALO &amp; ERIE CNTY NY INDL LA</name>
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          <isin value="US11943KDD19"/>
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        <curCd>USD</curCd>
        <valUSD>501695.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-08-01</maturityDt>
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        <name>HUDSON YARDS INFRASTRUCTURE CO</name>
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          <isin value="US44420RBF64"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-02-15</maturityDt>
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        <name>WESTCHESTER CNTY NY LOCAL DEV</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-07-01</maturityDt>
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      <invstOrSec>
        <name>NEW YORK ST PWR AUTH GREEN TRA</name>
        <lei>I5P1GEYFGGMMDOFX2L30</lei>
        <title>New York Power Authority</title>
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          <isin value="US65000XAS99"/>
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        <curCd>USD</curCd>
        <valUSD>1035520.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-11-15</maturityDt>
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        <name>NEW YORK CITY NY INDL DEV AGY</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-03-01</maturityDt>
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        <name>NEW YORK CITY NY HSG DEV CORP</name>
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        <title>New York City Housing Development Corp</title>
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        <debtSec>
          <maturityDt>2053-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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        <name>PUERTO RICO ELEC PWR AUTH PWRR</name>
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        <title>Puerto Rico Electric Power Authority</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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        <name>LONG ISLAND NY PWR AUTH ELEC S</name>
        <lei>1R46U5SYJ63KQXF39168</lei>
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        <name>NEW YORK CITY NY TRANSITIONAL</name>
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        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
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        <name>GUAM PWR AUTH REVENUE</name>
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        <name>NEW YORK ST THRUWAY AUTH PERSO</name>
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        <name>BUILD NYC RESOURCE CORP NY REV</name>
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      <invstOrSec>
        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
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        <name>NEW YORK ST LIBERTY DEV CORP L</name>
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          <maturityDt>2036-11-15</maturityDt>
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          <maturityDt>2027-07-01</maturityDt>
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      <invstOrSec>
        <name>TOMPKINS CNTY NY DEV CORP REVE</name>
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      <invstOrSec>
        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
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        <curCd>USD</curCd>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW YORK CITY NY TRANSITIONAL</name>
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          <isin value="US64972HZ211"/>
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        <valUSD>1062000.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>MONROE CNTY NY INDL DEV CORP R</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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          <maturityDt>2049-05-01</maturityDt>
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        <name>LONG ISLAND NY PWR AUTH ELEC S</name>
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        <name>BUILD NYC RESOURCE CORP NY REV</name>
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        <name>PUERTO RICO SALES TAX FING COR</name>
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        <name>NEW YORK ST DORM AUTH ST PERSO</name>
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        <name>NEW YORK ST THRUWAY AUTH GEN R</name>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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        <name>NEW YORK ST CONVENTION CENTER</name>
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          <maturityDt>2035-11-15</maturityDt>
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        <name>MONROE CNTY NY INDL DEV CORP R</name>
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          <maturityDt>2053-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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          <isin value="US59261A3Q89"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-11-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>PUERTO RICO SALES TAX FING COR</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BUILD NYC RESOURCE CORP NY REV</name>
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          <isin value="US12008EGK64"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>MONROE CNTY NY INDL DEV CORP R</name>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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        <name>NEW YORK NY</name>
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        <name>PUERTO RICO ELEC PWR AUTH PWRR</name>
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        <name>LONG ISLAND NY PWR AUTH ELEC S</name>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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        <name>SUFFOLK REGL OFF-TRACK BETTING</name>
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      <invstOrSec>
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        <valUSD>2657725.00000000</valUSD>
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          <maturityDt>2060-06-30</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>DUTCHESS CNTY NY LOCAL DEV COR</name>
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          <isin value="US267045MK53"/>
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        <curCd>USD</curCd>
        <valUSD>2793090.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>MADISON CNTY NY CAPITAL RESOUR</name>
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          <isin value="US557363DC94"/>
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        <curCd>USD</curCd>
        <valUSD>1007720.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DUTCHESS CNTY NY LOCAL DEV COR</name>
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          <isin value="US267045JV55"/>
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        <curCd>USD</curCd>
        <valUSD>1043100.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BUILD NYC RESOURCE CORP NY REV</name>
        <lei>549300GROJFKMNLWEK84</lei>
        <title>Build NYC Resource Corp</title>
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          <isin value="US12008ETL01"/>
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        <curCd>USD</curCd>
        <valUSD>1055780.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK ST THRUWAY AUTH PERSO</name>
        <lei>N/A</lei>
        <title>New York State Thruway Authority</title>
        <cusip>650028XK4</cusip>
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          <isin value="US650028XK41"/>
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        <curCd>USD</curCd>
        <valUSD>2495201.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTHOLD NY LOCAL DEV CORP REV</name>
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        <title>Southold Local Development Corp</title>
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          <isin value="US844584AL67"/>
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        <curCd>USD</curCd>
        <valUSD>750150.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALBANY NY CAPITAL RESOURCE COR</name>
        <lei>N/A</lei>
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          <isin value="US012432EB22"/>
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        <curCd>USD</curCd>
        <valUSD>1017610.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TRIBOROUGH NY BRIDGE &amp; TUNNEL</name>
        <lei>54930020ZN4LQF7K3456</lei>
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          <isin value="US89602HHD26"/>
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        <curCd>USD</curCd>
        <valUSD>2105900.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TRIBOROUGH NY BRIDGE &amp; TUNNEL</name>
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          <isin value="US896035BZ40"/>
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        <valUSD>2007940.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-15</maturityDt>
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        <name>NEW YORK CITY NY MUNI WTR FIN</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-06-15</maturityDt>
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        <title>Commonwealth of Puerto Rico</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW YORK ST LIBERTY DEV CORP L</name>
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          <isin value="US649519DC68"/>
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        <name>NEW YORK ST DORM AUTH SALES TA</name>
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        <name>BUILD NYC RESOURCE CORP NY REV</name>
        <lei>549300GROJFKMNLWEK84</lei>
        <title>Build NYC Resource Corp</title>
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        <fairValLevel>2</fairValLevel>
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        <name>GDB DEBT RECOVERY AUTH OF CMWL</name>
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        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
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        <name>SUFFOLK NY TOBACCO ASSET SECUR</name>
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        <name>NEW YORK ST MTGE AGY HOMEOWNER</name>
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      <invstOrSec>
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        <name>PUERTO RICO ELEC PWR AUTH PWRR</name>
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        <title>Puerto Rico Electric Power Authority</title>
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          <isin value="US74526QXC13"/>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PUERTO RICO SALES TAX FING COR</name>
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          <isin value="US74529JQH13"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-07-01</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>PUERTO RICO ELEC PWR AUTH PWRR</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>Puerto Rico Electric Power Authority</title>
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          <isin value="US74526QUT74"/>
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        <balance>420000.00000000</balance>
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        <valUSD>220500.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PORT AUTH OF NEW YORK &amp; NEW JE</name>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>WESTCHESTER NY TOBACCO ASSET S</name>
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        <name>NEW YORK NY</name>
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      <invstOrSec>
        <name>NEW YORK ST LIBERTY DEV CORP L</name>
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          <isin value="US64990CPZ85"/>
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        <curCd>USD</curCd>
        <valUSD>694421.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>TRIBOROUGH NY BRIDGE &amp; TUNNEL</name>
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          <isin value="US896035BF85"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-05-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
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          <isin value="US650116AV89"/>
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        <name>NEW YORK CITY NY MUNI WTR FIN</name>
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        <title>New York City Municipal Water Finance Authority</title>
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        <name>GUILDERLAND NY INDL DEV AGY AS</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-01-01</maturityDt>
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          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
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          <isin value="US650116FN19"/>
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        <curCd>USD</curCd>
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        <debtSec>
          <maturityDt>2038-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MATCHING FUND SPL PURPOSE SECU</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>BUILD NYC RESOURCE CORP NY REV</name>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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        <lei>549300C8XO7EXTX2XU71</lei>
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        <name>LONG ISLAND NY PWR AUTH ELEC S</name>
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        <name>NEW YORK ST THRUWAY AUTH PERSO</name>
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        <identifiers>
          <isin value="US650028ZN61"/>
        </identifiers>
        <balance>1550000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1671659.50000000</valUSD>
        <pctVal>0.564714035365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUERTO RICO SALES TAX FING COR</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</title>
        <cusip>74529JRK3</cusip>
        <identifiers>
          <isin value="US74529JRK33"/>
        </identifiers>
        <balance>1330000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1312350.90000000</valUSD>
        <pctVal>0.443333688801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.53600000</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>LONG ISLAND NY PWR AUTH ELEC S</name>
        <lei>1R46U5SYJ63KQXF39168</lei>
        <title>Long Island Power Authority</title>
        <cusip>542691BU3</cusip>
        <identifiers>
          <isin value="US542691BU32"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2123980.00000000</valUSD>
        <pctVal>0.717515329429</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-01-24</ncom:dateSigned>
      <ncom:nameOfApplicant>Voyageur Mutual Funds</ncom:nameOfApplicant>
      <ncom:signature>Dan Geatens</ncom:signature>
      <ncom:signerName>Dan Geatens</ncom:signerName>
      <ncom:title>Division Director - Head of US Fund Administration</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
