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      <invstOrSec>
        <name>San Diego Association of Governments</name>
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          <isin value="US797258AE04"/>
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      <invstOrSec>
        <name>Royal Oak Hospital Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US780486HC33"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Garland TX Electric Utility System Revenue</name>
        <lei>N/A</lei>
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          <isin value="US366133NQ59"/>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chino Valley Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US169583GZ84"/>
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        <curCd>USD</curCd>
        <valUSD>2783275.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Hawaii HI</name>
        <lei>N/A</lei>
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          <isin value="US419722Q635"/>
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        <valUSD>1160800.00000000</valUSD>
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          <maturityDt>2024-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Springfield IL Electric Revenue</name>
        <lei>N/A</lei>
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          <isin value="US850578TM78"/>
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        <curCd>USD</curCd>
        <valUSD>3826975.25000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Rancho Water District Financing Authority</name>
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          <isin value="US752111NV26"/>
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        <curCd>USD</curCd>
        <valUSD>2599324.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Florida</name>
        <lei>5493004G5XFOOUT0LQ57</lei>
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          <isin value="US341150X216"/>
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        <balance>2455000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2988152.35000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Dallas/Fort Worth International Airport</name>
        <lei>N/A</lei>
        <title>DALLAS-FORT WORTH TX INTERNATIONAL ARPT REVENUE</title>
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          <isin value="US235036L732"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4371880.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>City of Palo Alto CA</name>
        <lei>N/A</lei>
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          <isin value="US697364EY90"/>
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        <balance>260000.00000000</balance>
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        <valUSD>315114.80000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Aspen Fire Protection District</name>
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          <maturityDt>2028-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>La Grange Park District</name>
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          <maturityDt>2022-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of New York Mortgage Agency</name>
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        <name>Chicago O'Hare International Airport</name>
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        <name>City of Palo Alto CA</name>
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        <name>Grossmont Union High School District</name>
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        <name>Orange County School Board</name>
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        <name>State of New Hampshire</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Aspen Fire Protection District</name>
        <lei>N/A</lei>
        <title>ASPEN CO FIRE PROT DIST COPS</title>
        <cusip>045269AH0</cusip>
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          <isin value="US045269AH02"/>
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        <balance>235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>273995.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Virginia Commonwealth University</name>
        <lei>54930081U4ULRPR3MK80</lei>
        <title>VIRGINIA ST CMWLTH UNIV</title>
        <cusip>92778RES2</cusip>
        <identifiers>
          <isin value="US92778RES22"/>
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        <balance>1285000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1476362.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Virginia Public Building Authority</name>
        <lei>N/A</lei>
        <title>VIRGINIA ST PUBLIC BLDG AUTH PUBLIC FACS REVENUE</title>
        <cusip>9281723T0</cusip>
        <identifiers>
          <isin value="US9281723T08"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1158730.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>South Suburban Park &amp; Recreation District</name>
        <lei>N/A</lei>
        <title>SOUTH SUBURBAN CO PARK &amp; RECREATION DIST REVENUE</title>
        <cusip>840480GF8</cusip>
        <identifiers>
          <isin value="US840480GF88"/>
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        <balance>1255000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1636934.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Orange County Convention Center/Orlando</name>
        <lei>N/A</lei>
        <title>ORANGE CNTY FL TOURIST DEV TAX</title>
        <cusip>684545ZA7</cusip>
        <identifiers>
          <isin value="US684545ZA77"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5516050.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Town of Lincoln MA</name>
        <lei>N/A</lei>
        <title>LINCOLN MA</title>
        <cusip>533849PC3</cusip>
        <identifiers>
          <isin value="US533849PC38"/>
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        <balance>2285000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2620346.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Yuma Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>YUMA AZ INDL DEV AUTH HOSP REVENUE</title>
        <cusip>988514BV6</cusip>
        <identifiers>
          <isin value="US988514BV64"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1067020.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Main Street Natural Gas Inc</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
        <title>MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE</title>
        <cusip>56035DAY8</cusip>
        <identifiers>
          <isin value="US56035DAY85"/>
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        <balance>8000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7780080.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.79000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Garland TX Water &amp; Sewer System Revenue</name>
        <lei>N/A</lei>
        <title>GARLAND TX WTR &amp; SWR REVENUE</title>
        <cusip>366168PM8</cusip>
        <identifiers>
          <isin value="US366168PM83"/>
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        <balance>1370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1580158.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Manhattan Beach Unified School District</name>
        <lei>N/A</lei>
        <title>MANHATTAN BEACH CA UNIF SCH DIST</title>
        <cusip>562785NC5</cusip>
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          <isin value="US562785NC50"/>
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        <balance>10050000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10915003.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Carroll City-County Hospital Authority</name>
        <lei>N/A</lei>
        <title>CARROLL CITY-CNTY GA HOSP AUTH</title>
        <cusip>144709GX4</cusip>
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          <isin value="US144709GX47"/>
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        <valUSD>2995851.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>County of Cape May NJ</name>
        <lei>N/A</lei>
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          <isin value="US139501QS26"/>
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        <balance>2250000.00000000</balance>
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        <valUSD>2389545.00000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>South Texas College</name>
        <lei>N/A</lei>
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          <isin value="US84055QEP19"/>
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          <maturityDt>2023-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Madison TN</name>
        <lei>549300DK8Z4T7D94TJ48</lei>
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          <isin value="US557412WT69"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2023-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Bexar TX</name>
        <lei>N/A</lei>
        <title>BEXAR CNTY TX REVENUE</title>
        <cusip>088518LU7</cusip>
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          <isin value="US088518LU76"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles Community College District/CA</name>
        <lei>N/A</lei>
        <title>LOS ANGELES CA CMNTY CLG DIST</title>
        <cusip>54438CXW7</cusip>
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          <isin value="US54438CXW71"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5534750.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nevada System of Higher Education</name>
        <lei>N/A</lei>
        <title>NEVADA ST SYS OF HGR EDU UNIVREVENUE</title>
        <cusip>641496KS2</cusip>
        <identifiers>
          <isin value="US641496KS24"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>560275.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Zionsville Community Schools Building Corp</name>
        <lei>N/A</lei>
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          <isin value="US98972LML26"/>
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        <curCd>USD</curCd>
        <valUSD>402136.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>New York City Water &amp; Sewer System</name>
        <lei>N/A</lei>
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          <isin value="US64972GTB04"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6691980.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US542433QF78"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts Housing Finance Agency</name>
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        <cusip>57587AT99</cusip>
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          <isin value="US57587AT990"/>
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        <curCd>USD</curCd>
        <valUSD>1798704.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.45000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Bergen NJ</name>
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          <isin value="US083763UP59"/>
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        <balance>4700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4912440.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Denton TX</name>
        <lei>N/A</lei>
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          <isin value="US2487756T08"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1161270.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Dieguito Union High School District</name>
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          <isin value="US797508GY85"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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          <isin value="US97710BQ622"/>
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        <balance>2885000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3149987.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Wickliffe City School District</name>
        <lei>N/A</lei>
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          <isin value="US967528BP45"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>339693.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Adams 12 Five Star Schools</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US006449GV86"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
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          <isin value="US57583UG283"/>
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        <curCd>USD</curCd>
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        <name>City of Greensboro NC</name>
        <lei>N/A</lei>
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        <name>City of New Braunfels TX Utility System Revenue</name>
        <lei>N/A</lei>
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          <isin value="US642577VK37"/>
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        <name>San Francisco Bay Area Rapid Transit District</name>
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        <name>Neshaminy School District</name>
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        <name>Zeeland Public Schools</name>
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        <name>Salt Lake City Corp Airport Revenue</name>
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        <name>Katy Independent School District</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2036-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.83000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Palo Alto CA</name>
        <lei>N/A</lei>
        <title>PALO ALTO CA COPS</title>
        <cusip>697364EZ6</cusip>
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          <isin value="US697364EZ65"/>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>506843.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Oklahoma County Finance Authority</name>
        <lei>549300KPR05JUN0F1289</lei>
        <title>OKLAHOMA CNTY OKLA FIN AUTHLEASE REV</title>
        <cusip>67868VBV2</cusip>
        <identifiers>
          <isin value="US67868VBV27"/>
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        <balance>1410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1671329.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Yonkers NY</name>
        <lei>N/A</lei>
        <title>YONKERS NY</title>
        <cusip>986082B46</cusip>
        <identifiers>
          <isin value="US986082B464"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>846157.50000000</valUSD>
        <pctVal>0.184885310566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Northeast Ohio Regional Sewer District</name>
        <lei>N/A</lei>
        <title>NORTHEAST OH REGL SWR DIST</title>
        <cusip>663903EC2</cusip>
        <identifiers>
          <isin value="US663903EC21"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1118150.00000000</valUSD>
        <pctVal>0.244315638649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chaffey Joint Union High School District</name>
        <lei>N/A</lei>
        <title>CHAFFEY CA JT UNION HIGH SCH DIST</title>
        <cusip>157411SB6</cusip>
        <identifiers>
          <isin value="US157411SB65"/>
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        <balance>1035000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>650559.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rancho Water District Financing Authority</name>
        <lei>N/A</lei>
        <title>RANCHO CA WTR DIST FING AUTH</title>
        <cusip>752111NW0</cusip>
        <identifiers>
          <isin value="US752111NW09"/>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5123970.00000000</valUSD>
        <pctVal>1.119586820167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>East Bay Municipal Utility District Water System Revenue</name>
        <lei>N/A</lei>
        <title>EAST BAY CA MUNI UTILITY DIST WTR SYS REVENUE</title>
        <cusip>271014B27</cusip>
        <identifiers>
          <isin value="US271014B271"/>
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        <balance>3870000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4566793.50000000</valUSD>
        <pctVal>0.997843822860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>La Canada Unified School District</name>
        <lei>N/A</lei>
        <title>LA CANADA CA UNIF SCH DIST</title>
        <cusip>502516QS9</cusip>
        <identifiers>
          <isin value="US502516QS93"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1094340.00000000</valUSD>
        <pctVal>0.239113156552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Fort Myers FL</name>
        <lei>N/A</lei>
        <title>FORT MYERS FL CAPITAL IMPT REVENUE</title>
        <cusip>348073EH6</cusip>
        <identifiers>
          <isin value="US348073EH69"/>
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        <balance>380000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>443737.40000000</valUSD>
        <pctVal>0.096956567789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Louisiana State Transportation Authority</name>
        <lei>N/A</lei>
        <title>LOUISIANA ST TRANSPRTN AUTH</title>
        <cusip>54651TAU9</cusip>
        <identifiers>
          <isin value="US54651TAU97"/>
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        <balance>1090000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1213791.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Westmoreland County Municipal Authority</name>
        <lei>N/A</lei>
        <title>WESTMORELAND CNTY PA MUNI AUTH</title>
        <cusip>961017PF1</cusip>
        <identifiers>
          <isin value="US961017PF18"/>
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        <balance>1735000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1968652.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Glendale Unified School District/CA</name>
        <lei>N/A</lei>
        <title>GLENDALE CA UNIF SCH DIST</title>
        <cusip>378460WB1</cusip>
        <identifiers>
          <isin value="US378460WB12"/>
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        <balance>5280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3860472.00000000</valUSD>
        <pctVal>0.843512661242</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>South Dakota State Building Authority</name>
        <lei>N/A</lei>
        <title>SOUTH DAKOTA ST BLDG AUTH REVENUE</title>
        <cusip>83755LXB7</cusip>
        <identifiers>
          <isin value="US83755LXB79"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1153230.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Garland TX Electric Utility System Revenue</name>
        <lei>N/A</lei>
        <title>GARLAND TX ELEC UTILITY SYS REVENUE</title>
        <cusip>366133NP7</cusip>
        <identifiers>
          <isin value="US366133NP76"/>
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        <balance>1015000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1185672.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Alaska Municipal Bond Bank Authority</name>
        <lei>N/A</lei>
        <title>ALASKA ST MUNI BOND BANK AUTH</title>
        <cusip>01179RKK8</cusip>
        <identifiers>
          <isin value="US01179RKK85"/>
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        <balance>1145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1299105.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>NORTH CAROLINA ST MED CARE COMMISSION HLTH CARE FACS REVENUE</title>
        <cusip>65821DUW9</cusip>
        <identifiers>
          <isin value="US65821DUW90"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1109080.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Fort Myers FL</name>
        <lei>N/A</lei>
        <title>FORT MYERS FL CAPITAL IMPT REVENUE</title>
        <cusip>348073EC7</cusip>
        <identifiers>
          <isin value="US348073EC72"/>
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        <balance>1055000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1245448.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Palo Alto CA</name>
        <lei>N/A</lei>
        <title>PALO ALTO CA COPS</title>
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        <name>Kansas Development Finance Authority</name>
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      <invstOrSec>
        <name>Mountain View Los Altos Union High School District/CA</name>
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      <invstOrSec>
        <name>Wayne County Airport Authority</name>
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          <isin value="US944514ZC54"/>
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      <invstOrSec>
        <name>City of Lakeland FL</name>
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      <invstOrSec>
        <name>State of California</name>
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          <isin value="US13063C6T27"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chicago O'Hare International Airport</name>
        <lei>N/A</lei>
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          <isin value="US167593RL89"/>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2034-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Illinois State Toll Highway Authority</name>
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        <debtSec>
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      <invstOrSec>
        <name>Town of Brookline MA</name>
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        <debtSec>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>South Dakota Health &amp; Educational Facilities Authority</name>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
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        <name>Omaha Public Power District</name>
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          <isin value="US6817937Y56"/>
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        <name>State of New York Mortgage Agency</name>
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        <name>City of Santa Fe NM Wastewater Utility System Revenue</name>
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      <invstOrSec>
        <name>Kentucky Public Energy Authority</name>
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      <invstOrSec>
        <name>Collin County Community College District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>City of Garland TX Electric Utility System Revenue</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Springfield IL Electric Revenue</name>
        <lei>N/A</lei>
        <title>SPRINGFIELD IL ELEC REVENUE</title>
        <cusip>850578TL9</cusip>
        <identifiers>
          <isin value="US850578TL95"/>
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        <balance>3475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4008343.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicago O'Hare International Airport</name>
        <lei>N/A</lei>
        <title>CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE</title>
        <cusip>167593XQ0</cusip>
        <identifiers>
          <isin value="US167593XQ03"/>
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        <balance>3750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4265587.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>Clackamas County School District No 115</name>
        <lei>N/A</lei>
        <title>CLACKAMAS CNTY OR SCH DIST #115</title>
        <cusip>179270GN7</cusip>
        <identifiers>
          <isin value="US179270GN77"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>906350.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Portland OR Water System Revenue</name>
        <lei>N/A</lei>
        <title>PORTLAND OR WTR SYS REVENUE</title>
        <cusip>736754QK1</cusip>
        <identifiers>
          <isin value="US736754QK13"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3409200.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>South Dakota State Building Authority</name>
        <lei>N/A</lei>
        <title>SOUTH DAKOTA ST BLDG AUTH REVENUE</title>
        <cusip>83755LXF8</cusip>
        <identifiers>
          <isin value="US83755LXF83"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1707990.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT</title>
        <cusip>64990GJR4</cusip>
        <identifiers>
          <isin value="US64990GJR48"/>
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        <balance>5475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6650318.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>County of Hamilton OH Sewer System Revenue</name>
        <lei>N/A</lei>
        <title>HAMILTON CNTY OH SWR SYS REVENUE</title>
        <cusip>407288YP8</cusip>
        <identifiers>
          <isin value="US407288YP86"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1138590.00000000</valUSD>
        <pctVal>0.248781776156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Port of Seattle WA</name>
        <lei>549300T9UCDUJ3GZL429</lei>
        <title>PORT OF SEATTLE WA</title>
        <cusip>735371NT9</cusip>
        <identifiers>
          <isin value="US735371NT95"/>
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        <balance>4045000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4657857.95000000</valUSD>
        <pctVal>1.017741394081</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cleveland Municipal School District</name>
        <lei>N/A</lei>
        <title>CLEVELAND OH MUNI SCH DIST</title>
        <cusip>186392EG7</cusip>
        <identifiers>
          <isin value="US186392EG76"/>
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        <balance>4900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5413471.00000000</valUSD>
        <pctVal>1.182842753364</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of New Braunfels TX Utility System Revenue</name>
        <lei>N/A</lei>
        <title>NEW BRAUNFELS TX UTILITY REVENUE</title>
        <cusip>642577VP2</cusip>
        <identifiers>
          <isin value="US642577VP24"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>561305.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Leander Independent School District</name>
        <lei>N/A</lei>
        <title>LEANDER TX INDEP SCH DIST</title>
        <cusip>521841HV1</cusip>
        <identifiers>
          <isin value="US521841HV12"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>949290.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Juan Unified School District</name>
        <lei>N/A</lei>
        <title>SAN JUAN CA UNIF SCH DIST</title>
        <cusip>798306VX1</cusip>
        <identifiers>
          <isin value="US798306VX14"/>
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        <balance>3250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3687450.00000000</valUSD>
        <pctVal>0.805707375340</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>City of Crystal Lake IL</name>
        <lei>N/A</lei>
        <title>CRYSTAL LAKE IL</title>
        <cusip>229255HM9</cusip>
        <identifiers>
          <isin value="US229255HM95"/>
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        <balance>455000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>487282.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts School Building Authority</name>
        <lei>N/A</lei>
        <title>MASSACHUSETTS ST SCH BLDG AUTH SALES TAX REVENUE</title>
        <cusip>576000PJ6</cusip>
        <identifiers>
          <isin value="US576000PJ68"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2199920.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>DIST OF COLUMBIA UNIV REVENUE</title>
        <cusip>25484JCX6</cusip>
        <identifiers>
          <isin value="US25484JCX63"/>
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        <balance>2455000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2744002.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>San Diego Redevelopment Agency Successor Agency</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION</title>
        <cusip>79730WBC3</cusip>
        <identifiers>
          <isin value="US79730WBC38"/>
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        <balance>625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>674293.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>MET TRANSPRTN AUTH NY REVENUE</title>
        <cusip>59261AJM0</cusip>
        <identifiers>
          <isin value="US59261AJM09"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3519285.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
        <title>LONG BEACH CA UNIF SCH DIST</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California State Public Works Board</name>
        <lei>N/A</lei>
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          <isin value="US13068LNA97"/>
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      <invstOrSec>
        <name>Richmond County Hospital Authority</name>
        <lei>N/A</lei>
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          <isin value="US764603BV79"/>
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      <invstOrSec>
        <name>City of El Paso TX Airport Revenue</name>
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          <isin value="US283736CR59"/>
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          <maturityDt>2033-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Cook County High School District No 204 Lyons Township</name>
        <lei>N/A</lei>
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        <cusip>215507DT8</cusip>
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          <isin value="US215507DT89"/>
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        <curCd>USD</curCd>
        <valUSD>1320897.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Kansas City MO Sanitary Sewer System Revenue</name>
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        <cusip>48507TGK3</cusip>
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          <isin value="US48507TGK34"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>743052.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of New York Mortgage Agency</name>
        <lei>549300ZQWNLLIG564027</lei>
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        <cusip>64988YDQ7</cusip>
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          <isin value="US64988YDQ70"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>999590.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Santa Fe NM Wastewater Utility System Revenue</name>
        <lei>N/A</lei>
        <title>SANTA FE NM NET WSTWTR UTIL SYS/ENVRNMNTL SVC GROSS RECEIPTS</title>
        <cusip>802089AK8</cusip>
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          <isin value="US802089AK82"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>312490.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Diego Community College District</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA CMNTY CLG DIST</title>
        <cusip>797272PY1</cusip>
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          <isin value="US797272PY13"/>
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        <valUSD>5551000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles Unified School District/CA</name>
        <lei>N/A</lei>
        <title>LOS ANGELES CA UNIF SCH DIST</title>
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          <isin value="US544647BV16"/>
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        <valUSD>2132712.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>State of Florida</name>
        <lei>5493004G5XFOOUT0LQ57</lei>
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          <isin value="US34153QBQ82"/>
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        <balance>5000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Cape May NJ</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-10-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Colorado Health Facilities Authority</name>
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          <isin value="US19648A4M48"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>North Carolina Municipal Power Agency No 1</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Triborough Bridge &amp; Tunnel Authority</name>
        <lei>54930020ZN4LQF7K3456</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Patriots Energy Group Financing Agency</name>
        <lei>5493008X0DFBVFH4HL19</lei>
        <title>PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE</title>
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        <balance>11000000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Pend Oreille County Public Utility District No 1 Box Canyon</name>
        <lei>N/A</lei>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Los Angeles Unified School District/CA</name>
        <lei>N/A</lei>
        <title>LOS ANGELES CA UNIF SCH DIST</title>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>County of Miami-Dade FL Transit System</name>
        <lei>N/A</lei>
        <title>MIAMI-DADE CNTY FL TRANSIT SALES SURTAX REVENUE</title>
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          <isin value="US59334PGJ03"/>
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        <curCd>USD</curCd>
        <valUSD>1082480.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>New York City Water &amp; Sewer System</name>
        <lei>N/A</lei>
        <title>NEW YORK CITY NY MUNI WTR FIN AUTH WTR &amp; SWR SYS REVENUE</title>
        <cusip>64972GBX1</cusip>
        <identifiers>
          <isin value="US64972GBX16"/>
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        <curCd>USD</curCd>
        <valUSD>1264112.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <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>County of Macomb MI</name>
        <lei>N/A</lei>
        <title>MACOMB CNTY MI</title>
        <cusip>554885L43</cusip>
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          <isin value="US554885L438"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1109400.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Township of Morris NJ</name>
        <lei>N/A</lei>
        <title>MORRIS TWP NJ</title>
        <cusip>618329PZ3</cusip>
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          <isin value="US618329PZ39"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>198967.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Decatur IL</name>
        <lei>N/A</lei>
        <title>DECATUR IL</title>
        <cusip>243127TT4</cusip>
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          <isin value="US243127TT42"/>
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        <balance>1030000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1124821.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Garland TX Electric Utility System Revenue</name>
        <lei>N/A</lei>
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        <cusip>366133NR3</cusip>
        <identifiers>
          <isin value="US366133NR33"/>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>430905.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>State of New York Mortgage Agency</name>
        <lei>549300ZQWNLLIG564027</lei>
        <title>NEW YORK ST MTGE AGY HOMEOWNER MTGE REVENUE</title>
        <cusip>64988YDS3</cusip>
        <identifiers>
          <isin value="US64988YDS37"/>
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        <balance>1835000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1865369.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.35000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wylie Independent School District</name>
        <lei>N/A</lei>
        <title>WYLIE TX INDEP SCH DIST</title>
        <cusip>9830683C9</cusip>
        <identifiers>
          <isin value="US9830683C90"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>852929.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Lancaster Port Authority</name>
        <lei>5493007EGWLFDZJFF129</lei>
        <title>LANCASTER OH PORT AUTH GAS REVENUE</title>
        <cusip>514401BA5</cusip>
        <identifiers>
          <isin value="US514401BA51"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5602900.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of New York Mortgage Agency</name>
        <lei>549300ZQWNLLIG564027</lei>
        <title>NEW YORK ST MTGE AGY HOMEOWNER MTGE REVENUE</title>
        <cusip>64988YDL8</cusip>
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          <isin value="US64988YDL83"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1005250.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.05000000</annualizedRt>
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      <invstOrSec>
        <name>New Jersey Educational Facilities Authority</name>
        <lei>549300UTOO4X537XXG70</lei>
        <title>NEW JERSEY ST EDUCTNL FACS AUTH REVENUE</title>
        <cusip>6460657W6</cusip>
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          <isin value="US6460657W63"/>
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        <balance>590000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>655873.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chicago O'Hare International Airport</name>
        <lei>N/A</lei>
        <title>CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE</title>
        <cusip>167593XP2</cusip>
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          <isin value="US167593XP20"/>
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        <balance>3750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4279387.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2033-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
        <title>UNIV OF CALIFORNIA CA REVENUES</title>
        <cusip>91412G2M6</cusip>
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          <isin value="US91412G2M64"/>
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        <balance>5900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6377487.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
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        <cusip>57584YZK8</cusip>
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          <isin value="US57584YZK80"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6203050.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Adams 12 Five Star Schools</name>
        <lei>N/A</lei>
        <title>ADAMS CO 12 FIVE STAR SCHS</title>
        <cusip>006449GT3</cusip>
        <identifiers>
          <isin value="US006449GT31"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6115800.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Idaho Housing &amp; Finance Association</name>
        <lei>5493002WM3NYB1LQB744</lei>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1161940.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Salt Lake City Corp Airport Revenue</name>
        <lei>N/A</lei>
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        <balance>1835000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2109369.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Connecticut State Health &amp; Educational Facilities Authority</name>
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      <invstOrSec>
        <name>City of Yonkers NY</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>San Mateo County Community College District</name>
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          <isin value="US799038GD02"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
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        <name>Arizona Board of Regents</name>
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          <isin value="US040664AQ78"/>
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          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Fort Myers FL</name>
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          <isin value="US348073ED55"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Housing &amp; Redevelopment Authority of The City of St Paul Minnesota</name>
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          <isin value="US792905DE82"/>
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      <invstOrSec>
        <name>Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue</name>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York City Transitional Finance Authority Future Tax Secured Revenue</name>
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          <isin value="US64971QXW85"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Dallas TX</name>
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          <isin value="US234650ND73"/>
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        <name>City of Santa Fe NM Wastewater Utility System Revenue</name>
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        <name>Louisiana State Transportation Authority</name>
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        <name>Kentucky Public Energy Authority</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Louisiana Local Government Environmental Facilities &amp; Community Development Auth</name>
        <lei>5493004WIZ1HV87IVF85</lei>
        <title>LOUISIANA ST LOCAL GOVT ENVRNMNTL FACS &amp; CMNTY DEV AUTH REVE</title>
        <cusip>54628CFT4</cusip>
        <identifiers>
          <isin value="US54628CFT45"/>
        </identifiers>
        <balance>2425000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3031225.75000000</valUSD>
        <pctVal>0.662322456737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Springfield IL Electric Revenue</name>
        <lei>N/A</lei>
        <title>SPRINGFIELD IL ELEC REVENUE</title>
        <cusip>850578TK1</cusip>
        <identifiers>
          <isin value="US850578TK13"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3469500.00000000</valUSD>
        <pctVal>0.758085326918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-05-22</ncom:dateSigned>
      <ncom:nameOfApplicant>EATON VANCE MUNICIPALS TRUST II</ncom:nameOfApplicant>
      <ncom:signature>James Kirchner</ncom:signature>
      <ncom:signerName>James Kirchner</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
