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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000891804-10-001309.txt : 20100401
<SEC-HEADER>0000891804-10-001309.hdr.sgml : 20100401
<ACCEPTANCE-DATETIME>20100401112515
ACCESSION NUMBER:		0000891804-10-001309
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100131
FILED AS OF DATE:		20100401
DATE AS OF CHANGE:		20100401
EFFECTIVENESS DATE:		20100401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NUVEEN MUNICIPAL VALUE FUND INC
		CENTRAL INDEX KEY:			0000812801
		IRS NUMBER:				363513525
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05120
		FILM NUMBER:		10722349

	BUSINESS ADDRESS:	
		STREET 1:		333 W WACKER DR
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3129178200

	MAIL ADDRESS:	
		STREET 1:		333 W. WACKER DR
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUVEEN MUNICIPAL QUALITY FUND INC
		DATE OF NAME CHANGE:	19870504
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>nq2.htm
<DESCRIPTION>NUV_NQ
<TEXT>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNITED
STATES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
DC 20549</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FORM
N-Q</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">QUARTERLY
SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT
COMPANY</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
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Company Act file number <font style="DISPLAY: inline; TEXT-DECORATION: underline">811-05120</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Nuveen Municipal Value Fund,
Inc.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
name of registrant as specified in charter)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Nuveen
Investments</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;333
West Wacker Drive, Chicago, Illinois 60606
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
of principal executive offices) (Zip code)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Kevin
J. McCarthy</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vice
President and Secretary</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;333
West Wacker Drive, Chicago, Illinois 60606
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Name and
address of agent for service)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant's
telephone number, including area code: <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;312-917-7700&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
fiscal year end:&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;10/31&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
reporting period:&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1/31/10&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form N-Q
is to be used by management investment companies, other than small business
investment companies registered on Form N-5 (&#167;&#167; 239.24 and 274.5 of this
chapter), to file reports with the Commission, not later than 60 days after the
close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the
Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the
information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
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registrant is required to disclose the information specified by Form N-Q, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-Q unless the
Form displays a currently valid Office of Management and Budget ("OMB") control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to the
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington,
DC 20549-0609. The OMB has reviewed this collection of information under the
clearance requirements of 44 U.S.C. &#167; 3507.</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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      <div id="HDR">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
1. Schedule of Investments</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br></font>

      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
        <div align="left">
          <table border="0" cellspacing="0" style="FONT-SIZE: 10pt; WIDTH: 9in; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
                <td width="7%">
                </td>
                <td width="58%">
                </td>
                <td width="14%">
                </td>
                <td width="8%">
                </td>
                <td width="10%">
                </td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 12px"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Portfolio of Investments
      (Unaudited)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 12px"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Nuveen Municipal Value Fund,
      Inc. (NUV)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-STYLE: italic">&#160;&#160;&#160; January 31,
      2010</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Principal</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="right" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Optional Call</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Amount (000)</font></td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Description (1)</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Provisions (2)</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Ratings (3)</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Value</font></td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Alabama &#8211; 0.1%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>$&#160;&#160;&#160;&#160;1,750&#160;</td>
                <td align="left" nowrap>Huntsville Healthcare Authority, Alabama, Revenue
      Bonds, Series 2001A, 5.750%, 6/01/31&#160;</td>
                <td align="right" nowrap>6/11 at 101.00&#160;</td>
                <td align="right" nowrap>A2 (4)&#160;</td>
                <td align="right" nowrap>$&#160;&#160;&#160; 1,889,685&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">(Pre-refunded 6/01/11)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Alaska &#8211; 0.4%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,335&#160;</td>
                <td align="left" nowrap>Alaska Housing Finance Corporation, General Housing
      Purpose Bonds, Series 2005A, 5.000%,&#160;</td>
                <td align="right" nowrap>12/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>3,409,504&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">12/01/30 &#8211; FGIC
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>Anchorage, Alaska, General Obligation Bonds, Series
      2003B, 5.000%, 9/01/23 (Pre-refunded&#160;</td>
                <td align="right" nowrap>9/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA (4)&#160;</td>
                <td align="right" nowrap>3,417,180&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">9/01/13) &#8211; FGIC
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,260&#160;</td>
                <td align="left" nowrap>Northern Tobacco Securitization Corporation, Alaska,
      Tobacco Settlement Asset-Backed Bonds,&#160;</td>
                <td align="right" nowrap>6/10 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,280,815&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Series 2000, 6.200%, 6/01/22 (Pre-refunded 6/01/10)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">7,595&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Alaska&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">8,107,499&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
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                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>13,100&#160;</td>
                <td align="left" nowrap>Arizona Health Facilities Authority, Hospital
      Revenue Bonds, Catholic Healthcare West, Series&#160;</td>
                <td align="right" nowrap>7/10 at 101.00&#160;</td>
                <td align="right" nowrap>N/R (4)&#160;</td>
                <td align="right" nowrap>13,541,077&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">1999A, 6.625%, 7/01/20
      (Pre-refunded 7/01/10)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,400&#160;</td>
                <td align="left" nowrap>Arizona Health Facilities Authority, Hospital System
      Revenue Bonds, Phoenix Children&#8217;s&#160;</td>
                <td align="right" nowrap>2/12 at 101.00&#160;</td>
                <td align="right" nowrap>N/R (4)&#160;</td>
                <td align="right" nowrap>1,561,630&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Hospital, Series 2002A,
      6.250%, 2/15/21 (Pre-refunded 2/15/12)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>Phoenix, Arizona, Civic Improvement Corporation,
      Senior Lien Airport Revenue Bonds, Series&#160;</td>
                <td align="right" nowrap>7/18 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>2,501,600&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2008A, 5.000%,
    7/01/38&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,575&#160;</td>
                <td align="left" nowrap>Quechan Indian Tribe of the Fort Yuma Reservation,
      Arizona, Government Project Bonds, Series&#160;</td>
                <td align="right" nowrap>12/17 at 102.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>2,097,544&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2007, 7.000%,
    12/01/27&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,600&#160;</td>
                <td align="left" nowrap>Salt Verde Financial Corporation, Arizona, Senior
      Gas Revenue Bonds, Series 2007,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>4,792,536&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%,12/01/37&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Scottsdale Industrial Development Authority,
      Arizona, Hospital Revenue Bonds, Scottsdale&#160;</td>
                <td align="right" nowrap>9/13 at 100.00&#160;</td>
                <td align="right" nowrap>A3&#160;</td>
                <td align="right" nowrap>944,660&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Healthcare, Series 2008A, 5.250%, 9/01/30&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">26,175&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Arizona&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">25,439,047&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Arkansas &#8211; 0.2%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Cabot School District 4, Lonoke County, Arkansas,
      General Obligation Refunding Bonds, Series&#160;</td>
                <td align="right" nowrap>4/10 at 100.00&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>2,000,420&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2003, 5.000%, 2/01/32 &#8211;
      AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>University of Arkansas, Fayetteville, Various
      Facilities Revenue Bonds, Series 2002, 5.000%,&#160;</td>
                <td align="right" nowrap>12/12 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3&#160;</td>
                <td align="right" nowrap>2,029,980&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">12/01/32 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">4,000&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Arkansas&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">4,030,400&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">California &#8211; 12.1%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>California Department of Water Resources, Power
      Supply Revenue Bonds, Series 2002A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.125%, 5/01/19
      (Pre-refunded 5/01/12)&#160;</td>
                <td align="right" nowrap>5/12 at 101.00&#160;</td>
                <td align="right" nowrap>Aaa&#160;</td>
                <td align="right" nowrap>11,082,500&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 5/01/20
      (Pre-refunded 5/01/12)&#160;</td>
                <td align="right" nowrap>5/12 at 101.00&#160;</td>
                <td align="right" nowrap>Aaa&#160;</td>
                <td align="right" nowrap>11,110,500&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>California Health Facilities Financing Authority,
      Revenue Bonds, Kaiser Permanante System,&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Series 2006:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 4/01/37 &#8211; BHAC
      Insured&#160;</td>
                <td align="right" nowrap>4/16 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>5,004,900&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 4/01/37&#160;</td>
                <td align="right" nowrap>4/16 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>5,547,180&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,830&#160;</td>
                <td align="left" nowrap>California Infrastructure Economic Development Bank,
      Revenue Bonds, J. David Gladstone&#160;</td>
                <td align="right" nowrap>10/11 at 101.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>6,547,033&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Institutes, Series 2001,
      5.250%, 10/01/34&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap>California Pollution Control Financing Authority,
      Revenue Bonds, Pacific Gas and Electric&#160;</td>
                <td align="right" nowrap>6/17 at 100.00&#160;</td>
                <td align="right" nowrap>A3&#160;</td>
                <td align="right" nowrap>1,444,050&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Company, Series 2004C,
      4.750%, 12/01/23 &#8211; FGIC Insured (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>11,570&#160;</td>
                <td align="left" nowrap>California Statewide Community Development
      Authority, Certificates of Participation, Internext&#160;</td>
                <td align="right" nowrap>4/10 at 100.50&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>11,619,288&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Group, Series 1999, 5.375%,
      4/01/17&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,500&#160;</td>
                <td align="left" nowrap>California Statewide Community Development
      Authority, Revenue Bonds, Methodist Hospital&#160;</td>
                <td align="right" nowrap>8/19 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>3,780,175&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Project, Series 2009,
      6.750%, 2/01/38&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,600&#160;</td>
                <td align="left" nowrap>California Statewide Community Development
      Authority, Revenue Bonds, St. Joseph Health System,&#160;</td>
                <td align="right" nowrap>7/18 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>3,692,268&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2007A, 5.750%,
      7/01/47 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>California, General Obligation Bonds, Series
    2003:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>14,600&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 2/01/28&#160;</td>
                <td align="right" nowrap>8/13 at 100.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>14,499,114&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>11,250&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 2/01/33&#160;</td>
                <td align="right" nowrap>8/13 at 100.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>10,234,125&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>16,000&#160;</td>
                <td align="left" nowrap>California, Various Purpose General Obligation
      Bonds, Series 2007, 5.000%, 6/01/37&#160;</td>
                <td align="right" nowrap>6/17 at 100.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>14,274,240&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Coast Community College District, Orange County,
      California, General Obligation Bonds, Series&#160;</td>
                <td align="right" nowrap>8/18 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,203,600&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2006C, 5.000%, 8/01/32 &#8211;
      AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>16,045&#160;</td>
                <td align="left" nowrap>Desert Community College District, Riverside County,
      California, General Obligation Bonds,&#160;</td>
                <td align="right" nowrap>8/17 at 42.63&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>3,573,863&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Election 2004 Series 2007C,
      0.000%, 8/01/33 &#8211; AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>30,000&#160;</td>
                <td align="left" nowrap>Foothill/Eastern Transportation Corridor Agency,
      California, Toll Road Revenue Bonds, Series&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>19,152,000&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">1995A, 0.000%, 1/01/22
      (ETM)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>21,150&#160;</td>
                <td align="left" nowrap>Golden State Tobacco Securitization Corporation,
      California, Enhanced Tobacco Settlement&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>23,719,089&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Asset-Backed Bonds, Series
      2003B, 5.000%, 6/01/38 (Pre-refunded 6/01/13) &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Golden State Tobacco Securitization Corporation,
      California, Enhanced Tobacco Settlement&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Asset-Backed Bonds, Series 2007A-1:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>7,190&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 6/01/33&#160;</td>
                <td align="right" nowrap>6/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>5,609,063&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.125%, 6/01/47&#160;</td>
                <td align="right" nowrap>6/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>1,036,095&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,540&#160;</td>
                <td align="left" nowrap>Golden State Tobacco Securitization Corporation,
      California, Tobacco Settlement Asset-Backed&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,154,084&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Bonds, Series 2003A-1,
      6.750%, 6/01/39 (Pre-refunded 6/01/13)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Golden State Tobacco Securitization Corporation,
      California, Tobacco Settlement Asset-Backed&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Revenue Bonds, Series 2005A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 6/01/38 &#8211; FGIC
      Insured&#160;</td>
                <td align="right" nowrap>6/15 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+&#160;</td>
                <td align="right" nowrap>4,316,250&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 6/01/45&#160;</td>
                <td align="right" nowrap>6/15 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+&#160;</td>
                <td align="right" nowrap>8,275,100&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>9,000&#160;</td>
                <td align="left" nowrap>Los Angeles Department of Water and Power,
      California, Waterworks Revenue Refunding Bonds,&#160;</td>
                <td align="right" nowrap>7/11 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>9,026,730&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2001A, 5.125%,
      7/01/41&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,000&#160;</td>
                <td align="left" nowrap>Los Angeles Regional Airports Improvement
      Corporation, California, Sublease Revenue Bonds, Los&#160;</td>
                <td align="right" nowrap>12/12 at 102.00&#160;</td>
                <td align="right" nowrap>B&#8211;&#160;</td>
                <td align="right" nowrap>3,954,000&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Angeles International
      Airport, American Airlines Inc. Terminal 4 Project, Series 2002C,&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">7.500%, 12/01/24
      (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Merced Union High School District, Merced County,
      California, General Obligation Bonds,&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Series 1999A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 8/01/23 &#8211; FGIC
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>1,135,175&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,555&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 8/01/24 &#8211; FGIC
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>1,081,404&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,365&#160;</td>
                <td align="left" nowrap>Montebello Unified School District, Los Angeles
      County, California, General Obligation Bonds,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>765,314&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2004, 0.000%,
      8/01/27 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,550&#160;</td>
                <td align="left" nowrap>M-S-R Energy Authority, California, Gas Revenue
      Bonds, Citigroup Prepay Contracts, Series 2009C,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>3,753,522&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.500%, 11/01/39&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,350&#160;</td>
                <td align="left" nowrap>Palomar Pomerado Health, Calfornia, Certificates of
      Participation, Series 2009,&#160;</td>
                <td align="right" nowrap>11/19 at 100.00&#160;</td>
                <td align="right" nowrap>Baa2&#160;</td>
                <td align="right" nowrap>2,412,463&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.750%, 11/01/39&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,000&#160;</td>
                <td align="left" nowrap>Rancho Mirage Joint Powers Financing Authority,
      California, Revenue Bonds, Eisenhower Medical&#160;</td>
                <td align="right" nowrap>7/14 at 100.00&#160;</td>
                <td align="right" nowrap>A3 (4)&#160;</td>
                <td align="right" nowrap>9,484,080&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Center, Series 2004,
      5.625%, 7/01/34 (Pre-refunded 7/01/14)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>15,505&#160;</td>
                <td align="left" nowrap>Riverside Public Financing Authority, California,
      University Corridor Tax Allocation Bonds,&#160;</td>
                <td align="right" nowrap>8/17 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>12,781,857&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2007C, 5.000%,
      8/01/37 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>San Bruno Park School District, San Mateo County,
      California, General Obligation Bonds,&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Series 2000B:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,575&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 8/01/24 &#8211; FGIC
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,089,869&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,660&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 8/01/25 &#8211; FGIC
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,049,317&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>14,605&#160;</td>
                <td align="left" nowrap>San Joaquin Hills Transportation Corridor Agency,
      Orange County, California, Toll Road Revenue&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>1,789,551&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Refunding Bonds, Series
      1997A, 0.000%, 1/15/35 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>San Jose, California, Airport Revenue Bonds, Series
      2007A, 6.000%, 3/01/47 &#8211; AMBAC Insured&#160;</td>
                <td align="right" nowrap>3/17 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>5,134,200&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">(Alternative Minimum
    Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,024&#160;</td>
                <td align="left" nowrap>Yuba County Water Agency, California, Yuba River
      Development Revenue Bonds, Pacific Gas and&#160;</td>
                <td align="right" nowrap>3/10 at 100.00&#160;</td>
                <td align="right" nowrap>Baa1&#160;</td>
                <td align="right" nowrap>997,489&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Electric Company, Series 1966A, 4.000%, 3/01/16&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">274,964&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      California&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">227,329,488&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Colorado &#8211; 4.1%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Arkansas River Power Authority, Colorado, Power
      Revenue Bonds, Series 2006, 5.250%, 10/01/40 &#8211;&#160;</td>
                <td align="right" nowrap>10/16 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>4,425,700&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">SYNCORA GTY
Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,800&#160;</td>
                <td align="left" nowrap>Colorado Educational and Cultural Facilities
      Authority, Charter School Revenue Bonds,&#160;</td>
                <td align="right" nowrap>8/11 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,994,562&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Peak-to-Peak Charter
      School, Series 2001, 7.625%, 8/15/31 (Pre-refunded 8/15/11)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Colorado Health Facilities Authority, Colorado,
      Revenue Bonds, Catholic Health Initiatives,&#160;</td>
                <td align="right" nowrap>9/16 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>4,708,550&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2006A, 4.500%,
      9/01/38&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,100&#160;</td>
                <td align="left" nowrap>Colorado Health Facilities Authority, Revenue Bonds,
      Catholic Health Initiatives, Series&#160;</td>
                <td align="right" nowrap>3/12 at 100.00&#160;</td>
                <td align="right" nowrap>AA (4)&#160;</td>
                <td align="right" nowrap>2,309,475&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2002A, 5.500%, 3/01/32
      (ETM)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>750&#160;</td>
                <td align="left" nowrap>Colorado Health Facilities Authority, Revenue Bonds,
      Longmont United Hospital, Series 2006B,&#160;</td>
                <td align="right" nowrap>12/16 at 100.00&#160;</td>
                <td align="right" nowrap>Baa2&#160;</td>
                <td align="right" nowrap>682,725&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 12/01/23 &#8211; RAAI
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,700&#160;</td>
                <td align="left" nowrap>Colorado Health Facilities Authority, Revenue Bonds,
      Poudre Valley Health System, Series&#160;</td>
                <td align="right" nowrap>9/18 at 102.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,696,600&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2005C, 5.250%, 3/01/40 &#8211;
      AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>500&#160;</td>
                <td align="left" nowrap>Colorado Health Facilities Authority, Revenue Bonds,
      Vail Valley Medical Center, Series 2001,&#160;</td>
                <td align="right" nowrap>1/12 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+&#160;</td>
                <td align="right" nowrap>504,125&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.750%, 1/15/22&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>18,915&#160;</td>
                <td align="left" nowrap>Denver, Colorado, Airport System Revenue Refunding
      Bonds, Series 2003B, 5.000%, 11/15/33 &#8211;&#160;</td>
                <td align="right" nowrap>11/13 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>18,809,454&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">SYNCORA GTY
Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>E-470 Public Highway Authority, Colorado, Senior
      Revenue Bonds, Series 2000A, 5.750%, 9/01/35&#160;</td>
                <td align="right" nowrap>9/10 at 102.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>5,261,500&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">(Pre-refunded 9/01/10) &#8211;
      NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>E-470 Public Highway Authority, Colorado, Senior
      Revenue Bonds, Series 2000B:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>24,200&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 9/01/31 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>5,796,868&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>16,500&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 9/01/32 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>3,675,210&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>39,700&#160;</td>
                <td align="left" nowrap>E-470 Public Highway Authority, Colorado, Senior
      Revenue Bonds, Series 2000B, 0.000%, 9/01/28&#160;</td>
                <td align="right" nowrap>9/10 at 31.42&#160;</td>
                <td align="right" nowrap>Aaa&#160;</td>
                <td align="right" nowrap>12,431,658&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">(Pre-refunded 9/01/10) &#8211;
      NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,600&#160;</td>
                <td align="left" nowrap>E-470 Public Highway Authority, Colorado, Toll
      Revenue Bonds, Refunding Series 2006B, 0.000%,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>828,498&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">9/01/39 &#8211; NPFG
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap>E-470 Public Highway Authority, Colorado, Toll
      Revenue Bonds, Series 2004B, 0.000%, 3/01/36 &#8211;&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>1,717,900&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Ebert Metropolitan District, Colorado, Limited Tax
      General Obligation Bonds, Series 2007,&#160;</td>
                <td align="right" nowrap>12/17 at 100.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>3,908,900&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.350%, 12/01/37 &#8211; RAAI
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,450&#160;</td>
                <td align="left" nowrap>Northwest Parkway Public Highway Authority,
      Colorado, Revenue Bonds, Senior Series 2001A,&#160;</td>
                <td align="right" nowrap>6/11 at 102.00&#160;</td>
                <td align="right" nowrap>N/R (4)&#160;</td>
                <td align="right" nowrap>1,576,121&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 6/15/19
      (Pre-refunded 6/15/11) &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>7,000&#160;</td>
                <td align="left" nowrap>Northwest Parkway Public Highway Authority,
      Colorado, Revenue Bonds, Senior Series 2001C,&#160;</td>
                <td align="right" nowrap>6/16 at 100.00&#160;</td>
                <td align="right" nowrap>N/R (4)&#160;</td>
                <td align="right" nowrap>7,681,800&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">0.000%, 6/15/21 (Pre-refunded 6/15/16) &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">151,215&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Colorado&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">78,009,646&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Connecticut &#8211; 0.2%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,670&#160;</td>
                <td align="left" nowrap>Mashantucket Western Pequot Tribe, Connecticut,
      Subordinate Special Revenue Bonds, Series&#160;</td>
                <td align="right" nowrap>11/17 at 100.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>4,541,606&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">2007A, 5.750%, 9/01/34&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">District of Columbia &#8211;
      0.5%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap>Washington Convention Center Authority, District of
      Columbia, Senior Lien Dedicated Tax&#160;</td>
                <td align="right" nowrap>10/16 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>9,529,400&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Revenue Bonds, Series 2007A, 4.500%, 10/01/30 &#8211; AMBAC
    Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Florida &#8211; 3.8%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,000&#160;</td>
                <td align="left" nowrap>Escambia County Health Facilities Authority,
      Florida, Revenue Bonds, Ascension Health Credit&#160;</td>
                <td align="right" nowrap>11/12 at 101.00&#160;</td>
                <td align="right" nowrap>Aa1&#160;</td>
                <td align="right" nowrap>4,135,680&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Group, Series 2002C,
      5.750%, 11/15/32&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap>Florida State Board of Education, Public Education
      Capital Outlay Bonds, Series 2005E,&#160;</td>
                <td align="right" nowrap>6/15 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>9,762,900&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">4.500%, 6/01/35
    (UB)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,750&#160;</td>
                <td align="left" nowrap>Hillsborough County Industrial Development
      Authority, Florida, Hospital Revenue Bonds, Tampa&#160;</td>
                <td align="right" nowrap>10/16 at 100.00&#160;</td>
                <td align="right" nowrap>A3&#160;</td>
                <td align="right" nowrap>1,630,160&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">General Hospital, Series
      2006, 5.250%, 10/01/41&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,690&#160;</td>
                <td align="left" nowrap>Jacksonville, Florida, Better Jacksonville Sales Tax
      Revenue Bonds, Series 2001, 5.000%,&#160;</td>
                <td align="right" nowrap>10/11 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>10,781,400&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">10/01/30 &#8211; AMBAC
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>JEA, Florida, Electric System Revenue Bonds, Series
      2006-3A, 5.000%, 10/01/41 &#8211; AGM Insured&#160;</td>
                <td align="right" nowrap>4/15 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>3,025,620&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,880&#160;</td>
                <td align="left" nowrap>Lee County, Florida, Airport Revenue Bonds, Series
      2000A, 6.000%, 10/01/32 &#8211; AGM Insured&#160;</td>
                <td align="right" nowrap>10/10 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,942,122&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">(Alternative Minimum
    Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Marion County Hospital District, Florida, Revenue
      Bonds, Munroe Regional Medical Center,&#160;</td>
                <td align="right" nowrap>10/17 at 100.00&#160;</td>
                <td align="right" nowrap>A3&#160;</td>
                <td align="right" nowrap>4,526,750&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2007, 5.000%,
      10/01/34&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,250&#160;</td>
                <td align="left" nowrap>Orange County School Board, Florida, Certificates of
      Participation, Series 2002A, 5.000%,&#160;</td>
                <td align="right" nowrap>8/12 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>8,334,975&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">8/01/27 &#8211; NPFG
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>9,250&#160;</td>
                <td align="left" nowrap>Port Saint Lucie, Florida, Special Assessment
      Revenue Bonds, Southwest Annexation District 1B,&#160;</td>
                <td align="right" nowrap>7/17 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>8,044,078&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2007, 5.000%,
      7/01/40 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>Seminole Tribe of Florida, Special Obligation Bonds,
      Series 2007A, 5.250%, 10/01/27, 144A&#160;</td>
                <td align="right" nowrap>10/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>2,256,850&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>14,730&#160;</td>
                <td align="left" nowrap>South Miami Health Facilities Authority, Florida,
      Revenue Bonds, Baptist Health Systems of&#160;</td>
                <td align="right" nowrap>8/17 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>14,113,844&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">South Florida, 5.000%, 8/15/42 (UB)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">74,050&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Florida&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">71,554,379&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Georgia &#8211; 1.0%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,240&#160;</td>
                <td align="left" nowrap>Atlanta, Georgia, Water and Wastewater Revenue
      Bonds, Series 1999A, 5.000%, 11/01/38 &#8211;&#160;</td>
                <td align="right" nowrap>5/11 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>9,773,773&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>Atlanta, Georgia, Water and Wastewater Revenue
      Bonds, Series 2001A, 5.000%, 11/01/33 &#8211;&#160;</td>
                <td align="right" nowrap>5/12 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>2,438,700&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,000&#160;</td>
                <td align="left" nowrap>Augusta, Georgia, Water and Sewerage Revenue Bonds,
      Series 2004, 5.250%, 10/01/39 &#8211;&#160;</td>
                <td align="right" nowrap>10/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,139,360&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,250&#160;</td>
                <td align="left" nowrap>Royston Hospital Authority, Georgia, Revenue
      Anticipation Certificates, Ty Cobb Healthcare&#160;</td>
                <td align="right" nowrap>7/10 at 101.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>2,049,255&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">System Inc., Series 1999, 6.500%, 7/01/27&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">18,990&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Georgia&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">18,401,088&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Hawaii &#8211; 1.1%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,890&#160;</td>
                <td align="left" nowrap>Hawaii Department of Budget and Finance, Special
      Purpose Revenue Bonds, Hawaiian Electric&#160;</td>
                <td align="right" nowrap>10/12 at 101.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>6,889,380&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Company Inc., Series 1997A,
      5.650%, 10/01/27 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>12,325&#160;</td>
                <td align="left" nowrap>Honolulu City and County, Hawaii, General Obligation
      Bonds, Series 2003A, 5.250%, 3/01/28 &#8211;&#160;</td>
                <td align="right" nowrap>3/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>12,928,802&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">NPFG Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">19,215&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Hawaii&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">19,818,182&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Illinois &#8211; 12.7%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,060&#160;</td>
                <td align="left" nowrap>Aurora, Illinois, Golf Course Revenue Bonds, Series
      2000, 6.375%, 1/01/20&#160;</td>
                <td align="right" nowrap>7/10 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>2,063,440&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>17,205&#160;</td>
                <td align="left" nowrap>Chicago Board of Education, Illinois, Unlimited Tax
      General Obligation Bonds, Dedicated Tax&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>8,091,512&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Revenues, Series 1998B-1,
      0.000%, 12/01/24 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>400&#160;</td>
                <td align="left" nowrap>Chicago Greater Metropolitan Sanitary District,
      Illinois, General Obligation Capital&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>Aaa&#160;</td>
                <td align="right" nowrap>422,164&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Improvement Bonds, Series
      1991, 7.000%, 1/01/11 (ETM)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Chicago Housing Authority, Illinois, Revenue Bonds,
      Capital Fund Program, Series 2001, 5.375%,&#160;</td>
                <td align="right" nowrap>7/12 at 100.00&#160;</td>
                <td align="right" nowrap>Aaa&#160;</td>
                <td align="right" nowrap>5,555,950&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">7/01/18 (Pre-refunded
      7/01/12)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>285&#160;</td>
                <td align="left" nowrap>Chicago, Illinois, General Obligation Bonds, Series
      2002A, 5.625%, 1/01/39 &#8211; AMBAC Insured&#160;</td>
                <td align="right" nowrap>7/12 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>294,516&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>9,715&#160;</td>
                <td align="left" nowrap>Chicago, Illinois, General Obligation Bonds, Series
      2002A, 5.625%, 1/01/39 (Pre-refunded&#160;</td>
                <td align="right" nowrap>7/12 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211; (4)&#160;</td>
                <td align="right" nowrap>10,853,404&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">7/01/12) &#8211; AMBAC
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,575&#160;</td>
                <td align="left" nowrap>Chicago, Illinois, Second Lien Passenger Facility
      Charge Revenue Bonds, O&#8217;Hare International&#160;</td>
                <td align="right" nowrap>1/11 at 101.00&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>2,503,776&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Airport, Series 2001C,
      5.100%, 1/01/26 &#8211; AMBAC Insured (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,020&#160;</td>
                <td align="left" nowrap>Cook County High School District 209, Proviso
      Township, Illinois, General Obligation Bonds,&#160;</td>
                <td align="right" nowrap>12/16 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>3,302,279&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2004, 5.000%,
      12/01/19 &#8211; AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>385&#160;</td>
                <td align="left" nowrap>DuPage County Community School District 200,
      Wheaton, Illinois, General Obligation Bonds,&#160;</td>
                <td align="right" nowrap>11/13 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3&#160;</td>
                <td align="right" nowrap>423,612&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2003B, 5.250%,
      11/01/20 &#8211; AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,615&#160;</td>
                <td align="left" nowrap>DuPage County Community School District 200,
      Wheaton, Illinois, General Obligation Bonds,&#160;</td>
                <td align="right" nowrap>11/13 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3 (4)&#160;</td>
                <td align="right" nowrap>1,854,521&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2003B, 5.250%,
      11/01/20 (Pre-refunded 11/01/13) &#8211; AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Illinois Development Finance Authority, Gas Supply
      Revenue Bonds, Peoples Gas, Light and Coke&#160;</td>
                <td align="right" nowrap>11/13 at 101.00&#160;</td>
                <td align="right" nowrap>A2&#160;</td>
                <td align="right" nowrap>5,011,200&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Company, Series 2003E,
      4.875%, 11/01/38 (Mandatory put 11/01/18) &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">(Alternative Minimum
    Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>28,030&#160;</td>
                <td align="left" nowrap>Illinois Development Finance Authority, Local
      Government Program Revenue Bonds, Kane, Cook and&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>Aa3&#160;</td>
                <td align="right" nowrap>19,686,030&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">DuPage Counties School
      District U46 &#8211; Elgin, Series 2002, 0.000%, 1/01/19 &#8211; AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,800&#160;</td>
                <td align="left" nowrap>Illinois Development Finance Authority, Local
      Government Program Revenue Bonds, Winnebago and&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>Aa3&#160;</td>
                <td align="right" nowrap>1,250,154&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Boone Counties School
      District 205 &#8211; Rockford, Series 2000, 0.000%, 2/01/19 &#8211; AGM
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,180&#160;</td>
                <td align="left" nowrap>Illinois Development Finance Authority, Revenue
      Bonds, Chicago Charter School Foundation,&#160;</td>
                <td align="right" nowrap>12/12 at 100.00&#160;</td>
                <td align="right" nowrap>N/R (4)&#160;</td>
                <td align="right" nowrap>3,626,631&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2002A, 6.250%,
      12/01/32 (Pre-refunded 12/01/12)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,450&#160;</td>
                <td align="left" nowrap>Illinois Development Finance Authority, Revenue
      Bonds, Illinois Wesleyan University, Series&#160;</td>
                <td align="right" nowrap>9/11 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+&#160;</td>
                <td align="right" nowrap>1,288,499&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2001, 5.125%, 9/01/35 &#8211;
      AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,550&#160;</td>
                <td align="left" nowrap>Illinois Development Finance Authority, Revenue
      Bonds, Illinois Wesleyan University, Series&#160;</td>
                <td align="right" nowrap>9/11 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+ (4)&#160;</td>
                <td align="right" nowrap>6,986,754&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2001, 5.125%, 9/01/35
      (Pre-refunded 9/01/11) &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,875&#160;</td>
                <td align="left" nowrap>Illinois Finance Authority, Revenue Bonds, Central
      DuPage Health, Series 2009B,&#160;</td>
                <td align="right" nowrap>11/19 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,943,588&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 11/01/39&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,245&#160;</td>
                <td align="left" nowrap>Illinois Finance Authority, Revenue Bonds, Loyola
      University of Chicago, Tender Option Bond&#160;</td>
                <td align="right" nowrap>7/17 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>5,380,216&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Trust 1137, 9.306%, 7/01/46
      (IF)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Illinois Finance Authority, Revenue Bonds,
      Northwestern Memorial Hospital, Series 2004A,&#160;</td>
                <td align="right" nowrap>8/14 at 100.00&#160;</td>
                <td align="right" nowrap>N/R (4)&#160;</td>
                <td align="right" nowrap>5,865,300&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 8/15/43
      (Pre-refunded 8/15/14)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,800&#160;</td>
                <td align="left" nowrap>Illinois Finance Authority, Revenue Bonds, Provena
      Health, Series 2009A, 7.750%, 8/15/34&#160;</td>
                <td align="right" nowrap>8/19 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+&#160;</td>
                <td align="right" nowrap>5,407,200&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,975&#160;</td>
                <td align="left" nowrap>Illinois Finance Authority, Revenue Bonds, Sherman
      Health Systems, Series 2007A,&#160;</td>
                <td align="right" nowrap>8/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>3,505,513&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 8/01/37&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>15,000&#160;</td>
                <td align="left" nowrap>Illinois Health Facilities Authority, Revenue Bonds,
      Condell Medical Center, Series 2000,&#160;</td>
                <td align="right" nowrap>5/10 at 101.00&#160;</td>
                <td align="right" nowrap>Aaa&#160;</td>
                <td align="right" nowrap>15,423,900&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.500%, 5/15/30
      (Pre-refunded 5/15/10)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>15,000&#160;</td>
                <td align="left" nowrap>Illinois Health Facilities Authority, Revenue Bonds,
      Edward Hospital Obligated Group, Series&#160;</td>
                <td align="right" nowrap>2/11 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>15,897,900&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2001B, 5.250%, 2/15/34
      (Pre-refunded 2/15/11) &#8211; AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,145&#160;</td>
                <td align="left" nowrap>Illinois Health Facilities Authority, Revenue Bonds,
      Sherman Health Systems, Series 1997,&#160;</td>
                <td align="right" nowrap>2/10 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>7,834,431&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 8/01/22 &#8211; AMBAC
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,985&#160;</td>
                <td align="left" nowrap>Illinois Health Facilities Authority, Revenue Bonds,
      South Suburban Hospital, Series 1992,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A (4)&#160;</td>
                <td align="right" nowrap>4,803,081&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">7.000%, 2/15/18
    (ETM)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Illinois Sports Facility Authority, State Tax
      Supported Bonds, Series 2001, 0.000%, 6/15/30 &#8211;&#160;</td>
                <td align="right" nowrap>6/15 at 101.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>4,972,850&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Lombard Public Facilities Corporation, Illinois,
      First Tier Conference Center and Hotel&#160;</td>
                <td align="right" nowrap>1/16 at 100.00&#160;</td>
                <td align="right" nowrap>B+&#160;</td>
                <td align="right" nowrap>3,215,050&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Revenue Bonds, Series
      2005A-2, 5.500%, 1/01/36 &#8211; ACA Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Metropolitan Pier and Exposition Authority,
      Illinois, Revenue Bonds, McCormick Place Expansion&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Project, Series 1992A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>18,955&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 6/15/17 &#8211; FGIC
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>13,905,767&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>12,830&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 6/15/18 &#8211; FGIC
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>8,784,444&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Metropolitan Pier and Exposition Authority,
      Illinois, Revenue Bonds, McCormick Place Expansion&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Project, Series 1994B:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>7,250&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 6/15/18 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,963,930&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,385&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 6/15/21 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,901,388&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,190&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 6/15/28 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,773,164&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>11,610&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 6/15/29 &#8211; FGIC
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>3,685,595&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Metropolitan Pier and Exposition Authority,
      Illinois, Revenue Bonds, McCormick Place Expansion&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Project, Series 2002A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 6/15/24 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>6/22 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>7,893,200&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>21,375&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 6/15/34 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,723,234&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>21,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 12/15/35 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,218,060&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>21,070&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 6/15/36 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,081,891&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>25,825&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 6/15/39 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,104,109&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,460&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 6/15/42 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>6/12 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>8,534,956&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Metropolitan Pier and Exposition Authority,
      Illinois, Revenue Refunding Bonds, McCormick Place&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Expansion Project, Series 1996A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>16,700&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 12/15/21 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>9,129,890&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,650&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 6/15/27 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap>6/10 at 100.00&#160;</td>
                <td align="right" nowrap>A3&#160;</td>
                <td align="right" nowrap>1,650,809&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Metropolitan Pier and Exposition Authority,
      Illinois, Revenue Refunding Bonds, McCormick Place&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Expansion Project, Series 2002B:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,775&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 6/15/20 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>6/17 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>3,737,703&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,715&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 6/15/21 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>6/17 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>5,626,303&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Round Lake, Lake County, Illinois, Special Tax
      Bonds, Lakewood Grove Special Service Area 4,&#160;</td>
                <td align="right" nowrap>3/17 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>959,670&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2007, 4.700%,
      3/01/33 &#8211; AGC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,285&#160;</td>
                <td align="left" nowrap>Tri-City Regional Port District, Illinois, Port and
      Terminal Facilities Revenue Refunding&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>1,098,238&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Bonds, Delivery Network
      Project, Series 2003A, 4.900%, 7/01/14 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,575&#160;</td>
                <td align="left" nowrap>Will County Community School District 161, Summit
      Hill, Illinois, Capital Appreciation School&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>1,088,357&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Bonds, Series 1999, 0.000%,
      1/01/18 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>720&#160;</td>
                <td align="left" nowrap>Will County Community School District 161, Summit
      Hill, Illinois, Capital Appreciation School&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>N/R (4)&#160;</td>
                <td align="right" nowrap>554,681&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Bonds, Series 1999, 0.000%, 1/01/18 &#8211; FGIC Insured
    (ETM)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">360,665&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Illinois&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">239,878,860&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Indiana &#8211; 1.8%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>300&#160;</td>
                <td align="left" nowrap>Anderson, Indiana, Economic Development Revenue
      Bonds, Anderson University, Series 2007,&#160;</td>
                <td align="right" nowrap>4/14 at 100.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>275,646&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 10/01/24&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap>Indiana Bond Bank, State Revolving Fund Program
      Bonds, Series 2001A, 5.375%, 2/01/19&#160;</td>
                <td align="right" nowrap>2/13 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>10,898,300&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>Indiana Health Facility Financing Authority,
      Hospital Revenue Bonds, Deaconess Hospital Inc.,&#160;</td>
                <td align="right" nowrap>3/14 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>2,961,930&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2004A, 5.375%,
      3/01/34 &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,450&#160;</td>
                <td align="left" nowrap>Indiana Municipal Power Agency, Power Supply Revenue
      Bonds, Series 2007A, 5.000%, 1/01/42 &#8211;&#160;</td>
                <td align="right" nowrap>1/17 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>4,345,781&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Indianapolis Local Public Improvement Bond Bank,
      Indiana, Series 1999E:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>12,500&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 2/01/21 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>7,883,125&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">14,595&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">0.000%, 2/01/27 &#8211; AMBAC Insured&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">No Opt.
      Call&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">AA&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">6,547,171&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">44,845&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Indiana&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">32,911,953&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Iowa &#8211; 1.1%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,805&#160;</td>
                <td align="left" nowrap>Iowa Finance Authority, Single Family Mortgage
      Revenue Bonds, Series 2007B, 4.800%, 1/01/37&#160;</td>
                <td align="right" nowrap>7/16 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>5,478,353&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">(Alternative Minimum
    Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,500&#160;</td>
                <td align="left" nowrap>Iowa Higher Education Loan Authority, Private
      College Facility Revenue Bonds, Wartburg&#160;</td>
                <td align="right" nowrap>10/12 at 100.00&#160;</td>
                <td align="right" nowrap>N/R (4)&#160;</td>
                <td align="right" nowrap>3,922,625&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">College, Series 2002,
      5.500%, 10/01/33 (Pre-refunded 10/01/12) &#8211; ACA Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>7,000&#160;</td>
                <td align="left" nowrap>Iowa Tobacco Settlement Authority, Asset Backed
      Settlement Revenue Bonds, Series 2005C,&#160;</td>
                <td align="right" nowrap>6/15 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>5,194,350&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.625%, 6/01/46&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr>
                <td>
                </td>
                <td>
                </td>
                <td>
                </td>
                <td>
                </td>
                <td>
                </td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,160&#160;</td>
                <td align="left" nowrap>Iowa Tobacco Settlement Authority, Tobacco
      Settlement Asset-Backed Revenue Bonds, Series&#160;</td>
                <td align="right" nowrap>6/11 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>6,623,786&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">2001B, 5.600%, 6/01/35 (Pre-refunded 6/01/11)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">22,465&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
    Iowa&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">21,219,114&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Kansas &#8211; 0.6%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">10,000&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Kansas
      Department of Transportation, Highway Revenue Bonds, Series 2004A, 5.000%,
      3/01/22&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3/14 at
      100.00&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">AAA&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">10,912,500&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Kentucky &#8211; 0.1%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,060&#160;</td>
                <td align="left" nowrap>Greater Kentucky Housing Assistance Corporation,
      FHA-Insured Section 8 Mortgage Revenue&#160;</td>
                <td align="right" nowrap>7/10 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>1,061,145&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Refunding Bonds, Series
      1997A, 6.100%, 1/01/24 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Kentucky Economic Development Finance Authority,
      Louisville Arena Project Revenue Bonds,&#160;</td>
                <td align="right" nowrap>6/18 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,076,610&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Louisville Arena Authority, Inc., Series 2008A-1, 6.000%,
      12/01/38 &#8211; AGC Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">2,060&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Kentucky&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">2,137,755&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Louisiana &#8211; 2.7%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>East Baton Rouge Parish, Louisiana, Revenue
      Refunding Bonds, Georgia Pacific Corporation&#160;</td>
                <td align="right" nowrap>3/10 at 100.00&#160;</td>
                <td align="right" nowrap>B2&#160;</td>
                <td align="right" nowrap>990,970&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Project, Series 1998,
      5.350%, 9/01/11 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>12,000&#160;</td>
                <td align="left" nowrap>Louisiana Local Government Environmental Facilities
      &amp; Community Development Authority, Revenue&#160;</td>
                <td align="right" nowrap>11/17 at 100.00&#160;</td>
                <td align="right" nowrap>BB&#160;</td>
                <td align="right" nowrap>12,419,400&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Bonds, Westlake Chemical
      Corporation Project, Series 2007, 6.750%, 11/01/32&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,150&#160;</td>
                <td align="left" nowrap>Louisiana Public Facilities Authority, Hospital
      Revenue Bonds, Franciscan Missionaries of Our&#160;</td>
                <td align="right" nowrap>8/15 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>4,876,535&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Lady Health System, Series
      2005A, 5.250%, 8/15/32&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,540&#160;</td>
                <td align="left" nowrap>Louisiana Public Facilities Authority, Hospital
      Revenue Refunding Bonds, Southern Baptist&#160;</td>
                <td align="right" nowrap>5/10 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>7,121,733&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Hospital, Series 1986,
      8.000%, 5/15/12 (ETM)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>27,890&#160;</td>
                <td align="left" nowrap>Tobacco Settlement Financing Corporation, Louisiana,
      Tobacco Settlement Asset-Backed Bonds,&#160;</td>
                <td align="right" nowrap>5/11 at 101.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>26,275,725&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Series 2001B, 5.875%, 5/15/39&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">52,580&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Louisiana&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">51,684,363&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Maryland &#8211; 0.4%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,500&#160;</td>
                <td align="left" nowrap>Maryland Energy Financing Administration, Revenue
      Bonds, AES Warrior Run Project, Series 1995,&#160;</td>
                <td align="right" nowrap>9/19 at 100.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>3,500,980&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">7.400%, 9/01/19
      (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,600&#160;</td>
                <td align="left" nowrap>Maryland Health and Higher Educational Facilities
      Authority, Revenue Bonds, MedStar Health,&#160;</td>
                <td align="right" nowrap>8/14 at 100.00&#160;</td>
                <td align="right" nowrap>A2&#160;</td>
                <td align="right" nowrap>4,651,382&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Series 2004, 5.500%, 8/15/33&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">8,100&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Maryland&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">8,152,362&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Massachusetts &#8211; 4.9%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap>Massachusetts Bay Transportation Authority, Senior
      Sales Tax Revenue Refunding Bonds, Series&#160;</td>
                <td align="right" nowrap>7/12 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>11,022,000&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2002A, 5.000%, 7/01/32
      (Pre-refunded 7/01/12)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,720&#160;</td>
                <td align="left" nowrap>Massachusetts Development Finance Agency, Resource
      Recovery Revenue Bonds, Ogden Haverhill&#160;</td>
                <td align="right" nowrap>6/10 at 101.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>1,644,647&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Associates, Series 1998B,
      5.100%, 12/01/12 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,340&#160;</td>
                <td align="left" nowrap>Massachusetts Health and Educational Facilities
      Authority, Revenue Bonds, Cape Cod Health Care&#160;</td>
                <td align="right" nowrap>11/11 at 101.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>3,671,857&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Inc., Series 2001C, 5.250%,
      11/15/31 &#8211; RAAI Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>500&#160;</td>
                <td align="left" nowrap>Massachusetts Health and Educational Facilities
      Authority, Revenue Bonds, CareGroup Inc.,&#160;</td>
                <td align="right" nowrap>7/18 at 100.00&#160;</td>
                <td align="right" nowrap>A3&#160;</td>
                <td align="right" nowrap>457,780&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2008E-1, 5.125%,
      7/01/38&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Massachusetts Health and Educational Facilities
      Authority, Revenue Bonds, Northern Berkshire&#160;</td>
                <td align="right" nowrap>7/14 at 100.00&#160;</td>
                <td align="right" nowrap>BB&#160;</td>
                <td align="right" nowrap>1,731,000&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Community Services Inc.,
      Series 2004A, 6.375%, 7/01/34&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Massachusetts Health and Educational Facilities
      Authority, Revenue Bonds, Northern Berkshire&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Community Services Inc., Series 2004B:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,340&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.250%, 7/01/24&#160;</td>
                <td align="right" nowrap>7/14 at 100.00&#160;</td>
                <td align="right" nowrap>BB&#160;</td>
                <td align="right" nowrap>1,209,618&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.375%, 7/01/34&#160;</td>
                <td align="right" nowrap>7/14 at 100.00&#160;</td>
                <td align="right" nowrap>BB&#160;</td>
                <td align="right" nowrap>860,580&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,300&#160;</td>
                <td align="left" nowrap>Massachusetts Health and Educational Facilities
      Authority, Revenue Refunding Bonds, Suffolk&#160;</td>
                <td align="right" nowrap>7/19 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>2,334,960&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">University Issue, Series A
      (2009) Series B (2009) (Federally Taxable), 5.750%, 7/01/39&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>12,755&#160;</td>
                <td align="left" nowrap>Massachusetts Housing Finance Agency, Housing Bonds,
      Series 2009F, 5.700%, 6/01/40&#160;</td>
                <td align="right" nowrap>12/18 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>12,824,260&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Massachusetts Turnpike Authority, Metropolitan
      Highway System Revenue Bonds, Senior&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Series 1997A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,195&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 1/01/27 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>4/10 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>10,195,408&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>22,440&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 1/01/37 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>7/10 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>21,824,246&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,000&#160;</td>
                <td align="left" nowrap>Massachusetts Turnpike Authority, Metropolitan
      Highway System Revenue Bonds, Subordinate&#160;</td>
                <td align="right" nowrap>7/10 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>7,999,520&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 1997B, 5.125%,
      1/01/37 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,285&#160;</td>
                <td align="left" nowrap>Massachusetts Turnpike Authority, Metropolitan
      Highway System Revenue Bonds, Subordinate&#160;</td>
                <td align="right" nowrap>7/10 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>10,114,578&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 1999A, 5.000%,
      1/01/39 &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,750&#160;</td>
                <td align="left" nowrap>Massachusetts Water Pollution Abatement Trust,
      Pooled Loan Program Bonds, Series 2000-6,&#160;</td>
                <td align="right" nowrap>8/10 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,813,158&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 8/01/30
      (Pre-refunded 8/01/10)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,250&#160;</td>
                <td align="left" nowrap>Massachusetts Water Pollution Abatement Trust,
      Pooled Loan Program Bonds, Series 2000-6,&#160;</td>
                <td align="right" nowrap>8/10 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,350,640&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">5.500%, 8/01/30&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">92,875&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Massachusetts&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">92,054,252&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Michigan &#8211; 3.7%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>12,440&#160;</td>
                <td align="left" nowrap>Detroit Local Development Finance Authority,
      Michigan, Tax Increment Bonds, Series 1998A,&#160;</td>
                <td align="right" nowrap>5/10 at 100.00&#160;</td>
                <td align="right" nowrap>B&#8211;&#160;</td>
                <td align="right" nowrap>3,741,206&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 5/01/21&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Detroit Water Supply System, Michigan, Water Supply
      System Revenue Bonds, Series 2006D,&#160;</td>
                <td align="right" nowrap>7/16 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,774,700&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">4.625%, 7/01/32 &#8211; AGM
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,000&#160;</td>
                <td align="left" nowrap>Detroit, Michigan, Second Lien Sewerage Disposal
      System Revenue Bonds, Series 2005A, 5.000%,&#160;</td>
                <td align="right" nowrap>7/15 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>7,302,560&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">7/01/35 &#8211; NPFG
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,240&#160;</td>
                <td align="left" nowrap>Michigan Municipal Bond Authority, Clean Water
      Revolving Fund Revenue Refunding Bonds, Series&#160;</td>
                <td align="right" nowrap>10/12 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>5,649,558&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2002, 5.250%,
    10/01/19&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Michigan Municipal Bond Authority, Public School
      Academy Revenue Bonds, Detroit Academy of&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Arts and Sciences Charter School, Series
    2001A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>900&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">7.500%, 10/01/12&#160;</td>
                <td align="right" nowrap>10/11 at 100.00&#160;</td>
                <td align="right" nowrap>Ba1&#160;</td>
                <td align="right" nowrap>913,500&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">7.900%, 10/01/21&#160;</td>
                <td align="right" nowrap>4/10 at 102.00&#160;</td>
                <td align="right" nowrap>Ba1&#160;</td>
                <td align="right" nowrap>4,950,450&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,500&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">8.000%, 10/01/31&#160;</td>
                <td align="right" nowrap>4/10 at 102.00&#160;</td>
                <td align="right" nowrap>Ba1&#160;</td>
                <td align="right" nowrap>3,357,340&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>22,235&#160;</td>
                <td align="left" nowrap>Michigan State Hospital Finance Authority, Hospital
      Revenue Bonds, Detroit Medical Center&#160;</td>
                <td align="right" nowrap>2/10 at 100.00&#160;</td>
                <td align="right" nowrap>BB&#8211;&#160;</td>
                <td align="right" nowrap>16,618,217&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Obligated Group, Series
      1998A, 5.250%, 8/15/28&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Michigan State Hospital Finance Authority, Revenue
      Refunding Bonds, Detroit Medical Center&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Obligated Group, Series 1993A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,100&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.250%, 8/15/13&#160;</td>
                <td align="right" nowrap>2/10 at 100.00&#160;</td>
                <td align="right" nowrap>BB&#8211;&#160;</td>
                <td align="right" nowrap>1,100,066&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>12,925&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.500%, 8/15/18&#160;</td>
                <td align="right" nowrap>2/10 at 100.00&#160;</td>
                <td align="right" nowrap>BB&#8211;&#160;</td>
                <td align="right" nowrap>12,733,581&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>7,200&#160;</td>
                <td align="left" nowrap>Michigan Strategic Fund, Limited Obligation Resource
      Recovery Revenue Refunding Bonds, Detroit&#160;</td>
                <td align="right" nowrap>12/12 at 100.00&#160;</td>
                <td align="right" nowrap>Baa1&#160;</td>
                <td align="right" nowrap>7,199,568&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Edison Company, Series
      2002D, 5.250%, 12/15/32 &#8211; SYNCORA GTY Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,150&#160;</td>
                <td align="left" nowrap>Royal Oak Hospital Finance Authority, Michigan,
      Hospital Revenue Bonds, William Beaumont&#160;</td>
                <td align="right" nowrap>9/18 at 100.00&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>1,337,554&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Hospital, Refunding Series 2009V, 8.250%, 9/01/39&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">84,690&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Michigan&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">69,678,300&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Minnesota &#8211; 0.6%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,750&#160;</td>
                <td align="left" nowrap>Breckenridge, Minnesota, Revenue Bonds, Catholic
      Health Initiatives, Series 2004A,&#160;</td>
                <td align="right" nowrap>5/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,784,108&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 5/01/30&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,375&#160;</td>
                <td align="left" nowrap>Minneapolis Health Care System, Minnesota, Revenue
      Bonds, Fairview Hospital and Healthcare&#160;</td>
                <td align="right" nowrap>11/18 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>7,137,960&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Services, Series 2008A,
      6.625%, 11/15/28&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>355&#160;</td>
                <td align="left" nowrap>Minnesota Housing Finance Agency, Rental Housing
      Bonds, Series 1995D, 5.900%, 8/01/15 &#8211;&#160;</td>
                <td align="right" nowrap>2/10 at 100.00&#160;</td>
                <td align="right" nowrap>AA+&#160;</td>
                <td align="right" nowrap>356,569&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Saint Paul Housing and Redevelopment Authority,
      Minnesota, Health Care Facilities Revenue&#160;</td>
                <td align="right" nowrap>11/16 at 100.00&#160;</td>
                <td align="right" nowrap>Baa1&#160;</td>
                <td align="right" nowrap>1,827,240&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Bonds, HealthPartners Obligated Group, Series 2006, 5.250%,
      5/15/36&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">10,480&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Minnesota&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">11,105,877&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Missouri &#8211; 2.9%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>40,000&#160;</td>
                <td align="left" nowrap>Missouri Health and Educational Facilities
      Authority, Revenue Bonds, BJC Health System, Series&#160;</td>
                <td align="right" nowrap>5/13 at 100.00&#160;</td>
                <td align="right" nowrap>Aa2&#160;</td>
                <td align="right" nowrap>40,551,600&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2003, 5.250%, 5/15/32
    (UB)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,000&#160;</td>
                <td align="left" nowrap>Missouri-Illinois Metropolitan District Bi-State
      Development Agency, Mass Transit Sales Tax&#160;</td>
                <td align="right" nowrap>10/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>6,051,600&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Appropriation Bonds,
      Metrolink Cross County Extension Project, Series 2002B, 5.000%,&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">10/01/32 &#8211; AGM
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,000&#160;</td>
                <td align="left" nowrap>Sugar Creek, Missouri, Industrial Development
      Revenue Bonds, Lafarge North America Inc.,&#160;</td>
                <td align="right" nowrap>6/13 at 101.00&#160;</td>
                <td align="right" nowrap>BBB&#8211;&#160;</td>
                <td align="right" nowrap>3,556,840&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2003A, 5.650%,
      6/01/37 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>West Plains Industrial Development Authority,
      Missouri, Hospital Facilities Revenue Bonds,&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Ozark Medical Center, Series 1997:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,105&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 11/15/12&#160;</td>
                <td align="right" nowrap>5/10 at 100.00&#160;</td>
                <td align="right" nowrap>B+&#160;</td>
                <td align="right" nowrap>1,105,254&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.600%, 11/15/17&#160;</td>
                <td align="right" nowrap>5/10 at 100.00&#160;</td>
                <td align="right" nowrap>B+&#160;</td>
                <td align="right" nowrap>948,810&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,075&#160;</td>
                <td align="left" nowrap>West Plains Industrial Development Authority,
      Missouri, Hospital Facilities Revenue Bonds,&#160;</td>
                <td align="right" nowrap>5/10 at 101.00&#160;</td>
                <td align="right" nowrap>B+&#160;</td>
                <td align="right" nowrap>2,931,090&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Ozark Medical Center, Series 1999, 6.750%, 11/15/24&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">55,180&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Missouri&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">55,145,194&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Montana &#8211; 0.2%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,750&#160;</td>
                <td align="left" nowrap>Forsyth, Rosebud County, Montana, Pollution Control
      Revenue Refunding Bonds, Puget Sound&#160;</td>
                <td align="right" nowrap>3/13 at 101.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>3,575,963&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Energy, Series 2003A, 5.000%, 3/01/31 &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Nebraska &#8211; 0.3%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Omaha Public Power District, Nebraska, Electric
      System Revenue Bonds, Series 2008A,&#160;</td>
                <td align="right" nowrap>2/18 at 100.00&#160;</td>
                <td align="right" nowrap>Aa1&#160;</td>
                <td align="right" nowrap>5,341,650&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">5.500%, 2/01/39&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Nevada &#8211; 1.4%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>Carson City, Nevada, Hospital Revenue Bonds,
      Carson-Tahoe Hospital, Series 2003A, 5.125%,&#160;</td>
                <td align="right" nowrap>9/13 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>2,255,125&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">9/01/29 &#8211; RAAI
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Clark County, Nevada, Airport Revenue Bonds,
      Subordinte Lien Series 2010B, 5.750%, 7/01/42&#160;</td>
                <td align="right" nowrap>1/20 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3&#160;</td>
                <td align="right" nowrap>5,152,200&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">(WI/DD, Settling
    2/03/10)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Director of Nevada State Department of Business and
      Industry, Revenue Bonds, Las Vegas&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Monorail Project, First Tier, Series 2000:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>15,095&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 1/01/24 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>Caa2&#160;</td>
                <td align="right" nowrap>2,514,223&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>11,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 1/01/25 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>Caa2&#160;</td>
                <td align="right" nowrap>1,694,110&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.625%, 1/01/32 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap>1/12 at 100.00&#160;</td>
                <td align="right" nowrap>Caa2&#160;</td>
                <td align="right" nowrap>1,666,400&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>22,010&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.375%, 1/01/40 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap>7/10 at 100.00&#160;</td>
                <td align="right" nowrap>Caa2&#160;</td>
                <td align="right" nowrap>9,170,907&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>Reno, Nevada, Health Facilty Revenue Bonds, Catholic
      Healthcare West, Trust 2634, 18.719%,&#160;</td>
                <td align="right" nowrap>7/17 at 100.00&#160;</td>
                <td align="right" nowrap>AA+&#160;</td>
                <td align="right" nowrap>2,696,500&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">7/01/31 &#8211; BHAC Insured
    (IF)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap>Sparks Tourism Improvement District 1, Legends at
      Sparks Marina, Nevada, Senior Sales Tax&#160;</td>
                <td align="right" nowrap>6/18 at 100.00&#160;</td>
                <td align="right" nowrap>Ba3&#160;</td>
                <td align="right" nowrap>1,377,435&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Revenue Bonds Series 2008A, 6.750%, 6/15/28&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">63,605&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Nevada&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">26,526,900&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">New
      Hampshire &#8211; 0.1%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap>Business Finance Authority of the State of New
      Hampshire Revenue Bonds Elliot Hospital&#160;</td>
                <td align="right" nowrap>10/19 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+&#160;</td>
                <td align="right" nowrap>1,505,820&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Obligated Group Issue, Series 2009A, 6.125%, 10/01/39&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">New
      Jersey &#8211; 5.7%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>23,625&#160;</td>
                <td align="left" nowrap>New Jersey Economic Development Authority, Special
      Facilities Revenue Bonds, Continental&#160;</td>
                <td align="right" nowrap>3/10 at 101.00&#160;</td>
                <td align="right" nowrap>B&#160;</td>
                <td align="right" nowrap>20,766,611&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Airlines Inc., Series 1999,
      6.250%, 9/15/29 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>9,000&#160;</td>
                <td align="left" nowrap>New Jersey Economic Development Authority, Special
      Facilities Revenue Bonds, Continental&#160;</td>
                <td align="right" nowrap>11/10 at 101.00&#160;</td>
                <td align="right" nowrap>B&#160;</td>
                <td align="right" nowrap>8,637,930&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Airlines Inc., Series 2000,
      7.000%, 11/15/30 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,740&#160;</td>
                <td align="left" nowrap>New Jersey Health Care Facilities Financing
      Authority, Revenue Bonds, Saint Barnabas Health&#160;</td>
                <td align="right" nowrap>1/17 at 41.49&#160;</td>
                <td align="right" nowrap>BB+&#160;</td>
                <td align="right" nowrap>667,439&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Care System, Series 2006A,
      0.000%, 7/01/34&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>11,200&#160;</td>
                <td align="left" nowrap>New Jersey Health Care Facilities Financing
      Authority, Revenue Bonds, Trinitas Hospital&#160;</td>
                <td align="right" nowrap>7/10 at 101.00&#160;</td>
                <td align="right" nowrap>BBB&#8211; (4)&#160;</td>
                <td align="right" nowrap>11,651,584&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Obligated Group, Series
      2000, 7.500%, 7/01/30 (Pre-refunded 7/01/10)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>7,500&#160;</td>
                <td align="left" nowrap>New Jersey Transportation Trust Fund Authority,
      Transportation System Bonds, Series 2003C,&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>8,620,800&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 6/15/24
      (Pre-refunded 6/15/13)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>New Jersey Transportation Trust Fund Authority,
      Transportation System Bonds, Series 2006C:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>30,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 12/15/31 &#8211; FGIC
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>7,992,600&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>27,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 12/15/32 &#8211; AGM
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>7,309,170&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>310&#160;</td>
                <td align="left" nowrap>New Jersey Turnpike Authority, Revenue Bonds, Series
      1991C, 6.500%, 1/01/16 &#8211; NPFG Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>369,018&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>New Jersey Turnpike Authority, Revenue Bonds, Series
      1991C:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>105&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.500%, 1/01/16 &#8211; MBIA
      Insured (ETM)&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A+ (4)&#160;</td>
                <td align="right" nowrap>131,097&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,490&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.500%, 1/01/16 &#8211; MBIA
      Insured (ETM)&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A+ (4)&#160;</td>
                <td align="right" nowrap>1,740,707&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>27,185&#160;</td>
                <td align="left" nowrap>Tobacco Settlement Financing Corporation, New
      Jersey, Tobacco Settlement Asset-Backed Bonds,&#160;</td>
                <td align="right" nowrap>6/12 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>30,510,539&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2002, 6.125%,
      6/01/42 (Pre-refunded 6/01/12)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>7,165&#160;</td>
                <td align="left" nowrap>Tobacco Settlement Financing Corporation, New
      Jersey, Tobacco Settlement Asset-Backed Bonds,&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>8,370,010&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Series 2003, 6.250%, 6/01/43 (Pre-refunded 6/01/13)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">149,320&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total New
      Jersey&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">106,767,505&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">New
      Mexico &#8211; 0.6%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap>University of New Mexico, Revenue Refunding Bonds,
      Series 1992A, 6.000%, 6/01/21&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,771,245&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>9,600&#160;</td>
                <td align="left" nowrap>University of New Mexico, Subordinate Lien Revenue
      Refunding and Improvement Bonds, Series&#160;</td>
                <td align="right" nowrap>6/12 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>9,704,832&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">2002A, 5.000%, 6/01/32&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">11,100&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total New
      Mexico&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">11,476,077&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">New
      York &#8211; 7.7%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,500&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      FHA-Insured Mortgage Revenue Bonds, Kaleida&#160;</td>
                <td align="right" nowrap>2/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>8,874,000&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Health, Series 2004,
      5.050%, 2/15/25&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,200&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York, New
      York City, Lease Revenue Bonds, Court&#160;</td>
                <td align="right" nowrap>5/10 at 101.00&#160;</td>
                <td align="right" nowrap>AA&#8211; (4)&#160;</td>
                <td align="right" nowrap>5,342,012&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Facilities, Series 1999,
      6.000%, 5/15/39 (Pre-refunded 5/15/10)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Revenue Bonds, Mount Sinai NYU Health Obligated&#160;</td>
                <td align="right" nowrap>4/10 at 100.00&#160;</td>
                <td align="right" nowrap>A2&#160;</td>
                <td align="right" nowrap>2,501,475&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Group, Series 2000A,
      5.500%, 7/01/26&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,625&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Revenue Bonds, Mount Sinai NYU Health, Series&#160;</td>
                <td align="right" nowrap>4/10 at 100.00&#160;</td>
                <td align="right" nowrap>A2&#160;</td>
                <td align="right" nowrap>2,626,549&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2000C, 5.500%,
    7/01/26&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>15,500&#160;</td>
                <td align="left" nowrap>Long Island Power Authority, New York, Electric
      System General Revenue Bonds, Series 2001A,&#160;</td>
                <td align="right" nowrap>9/11 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>16,694,585&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.375%, 9/01/25
      (Pre-refunded 9/01/11)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Long Island Power Authority, New York, Electric
      System General Revenue Bonds, Series 2006B,&#160;</td>
                <td align="right" nowrap>6/16 at 100.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>2,022,600&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 12/01/35&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,510&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, Civic Facility Revenue Bonds, Vaughn&#160;</td>
                <td align="right" nowrap>12/16 at 100.00&#160;</td>
                <td align="right" nowrap>BB+&#160;</td>
                <td align="right" nowrap>1,120,299&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">College of Aeronautics,
      Series 2006B, 5.000%, 12/01/31&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, Special Facilities Revenue Bonds, JFK&#160;</td>
                <td align="right" nowrap>8/12 at 101.00&#160;</td>
                <td align="right" nowrap>B&#8211;&#160;</td>
                <td align="right" nowrap>10,243,600&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Airport &#8211; American Airlines
      Inc., Series 2002B, 8.500%, 8/01/28 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,500&#160;</td>
                <td align="left" nowrap>New York City Municipal Water Finance Authority, New
      York, Water and Sewerage System Revenue&#160;</td>
                <td align="right" nowrap>12/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>5,626,225&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Bonds, Series 2004B,
      5.000%, 6/15/36 &#8211; AGM Insured (UB)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5&#160;</td>
                <td align="left" nowrap>New York City, New York, General Obligation Bonds,
      Fiscal Series 1997E, 6.000%, 8/01/16&#160;</td>
                <td align="right" nowrap>2/10 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>5,023&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>New York City, New York, General Obligation Bonds,
      Fiscal Series 2003J:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,450&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 6/01/21&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,527,459&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>385&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 6/01/22&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>404,508&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>New York City, New York, General Obligation Bonds,
      Fiscal Series 2004C:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 8/15/24&#160;</td>
                <td align="right" nowrap>8/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>8,503,840&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 8/15/25&#160;</td>
                <td align="right" nowrap>8/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>6,357,300&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap>New York Dorm Authority, FHA Insured Mortgage
      Hospital Revenue Bonds, Kaleida Health, Series&#160;</td>
                <td align="right" nowrap>8/16 at 100.00&#160;</td>
                <td align="right" nowrap>BB+&#160;</td>
                <td align="right" nowrap>9,394,600&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2006, 4.700%,
    2/15/35&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>New York State Tobacco Settlement Financing
      Corporation, Tobacco Settlement Asset-Backed and&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>State Contingency Contract-Backed Bonds, Series
      2003A-1:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 6/01/17&#160;</td>
                <td align="right" nowrap>6/11 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>10,377,200&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>11,190&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 6/01/18&#160;</td>
                <td align="right" nowrap>6/12 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>11,839,691&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>28,810&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 6/01/19&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>30,846,863&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>Port Authority of New York and New Jersey, Special
      Project Bonds, JFK International Air&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>2,555,575&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Terminal LLC, Sixth Series
      1997, 6.250%, 12/01/10 &#8211; NPFG Insured (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">8,500&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Power
      Authority of the State of New York, General Revenue Bonds, Series 2000A,
      5.250%, 11/15/40&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">11/10 at
      100.00&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">Aa2&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">8,545,985&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">140,175&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total New
      York&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">145,409,389&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">North Carolina &#8211; 0.6%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap>Charlotte, North Carolina, Certificates of
      Participation, Governmental Facilities Projects,&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA+&#160;</td>
                <td align="right" nowrap>1,535,760&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2003G, 5.000%,
      6/01/33&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>North Carolina Eastern Municipal Power Agency, Power
      System Revenue Refunding Bonds, Series&#160;</td>
                <td align="right" nowrap>1/13 at 100.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>2,537,450&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2003D, 5.125%,
    1/01/26&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap>North Carolina Infrastructure Finance Corporation,
      Certificates of Participation, Correctional&#160;</td>
                <td align="right" nowrap>2/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA+&#160;</td>
                <td align="right" nowrap>1,588,815&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Facilities, Series 2004A,
      5.000%, 2/01/20&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>North Carolina Medical Care Commission, Health
      System Revenue Bonds, Mission St. Joseph&#8217;s&#160;</td>
                <td align="right" nowrap>10/17 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,935,300&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Health System, Series 2007,
      4.500%, 10/01/31&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>The Charlotte-Mecklenberg Hospital Authority, North
      Carolina, Doing Business as Carolinas&#160;</td>
                <td align="right" nowrap>1/18 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>2,999,940&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">HealthCare System, Health Care Refunding Revenue Bonds, Series
      2008A, 5.000%, 1/15/47&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">10,500&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total North
      Carolina&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">10,597,265&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Ohio &#8211; 2.5%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap>American Municipal Power Ohio Inc., General Revenue
      Bonds, Series 2008, 5.250%, 2/15/43&#160;</td>
                <td align="right" nowrap>2/18 at 100.00&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>10,084,600&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Buckeye Tobacco Settlement Financing Authority,
      Ohio, Tobacco Settlement Asset-Backed Revenue&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Bonds, Senior Lien, Series 2007A-2:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,880&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.375%, 6/01/24&#160;</td>
                <td align="right" nowrap>6/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>2,718,835&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>480&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.125%, 6/01/24&#160;</td>
                <td align="right" nowrap>6/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>446,054&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,500&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.875%, 6/01/30&#160;</td>
                <td align="right" nowrap>6/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>4,748,315&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>17,165&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.750%, 6/01/34&#160;</td>
                <td align="right" nowrap>6/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>14,273,212&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>11,785&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.875%, 6/01/47&#160;</td>
                <td align="right" nowrap>6/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>9,042,159&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>9,150&#160;</td>
                <td align="left" nowrap>Buckeye Tobacco Settlement Financing Authority,
      Ohio, Tobacco Settlement Asset-Backed Revenue&#160;</td>
                <td align="right" nowrap>6/22 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>6,065,535&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Bonds, Senior Lien, Series 2007A-3, 0.000%, 6/01/37&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">56,960&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
    Ohio&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">47,378,710&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Oklahoma &#8211; 0.8%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>9,955&#160;</td>
                <td align="left" nowrap>Oklahoma Development Finance Authority, Revenue
      Bonds, St. John Health System, Series 2004,&#160;</td>
                <td align="right" nowrap>2/14 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>9,649,481&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.125%, 2/15/31&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,045&#160;</td>
                <td align="left" nowrap>Oklahoma Development Finance Authority, Revenue
      Bonds, St. John Health System, Series 2004,&#160;</td>
                <td align="right" nowrap>2/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>5,808,914&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">5.125%, 2/15/31 (Pre-refunded 2/15/14)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">15,000&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Oklahoma&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">15,458,395&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Oregon &#8211; 0.3%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,600&#160;</td>
                <td align="left" nowrap>Clackamas County Hospital Facility Authority,
      Oregon, Revenue Refunding Bonds, Legacy Health&#160;</td>
                <td align="right" nowrap>5/11 at 101.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>2,667,522&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">System, Series 2001,
      5.250%, 5/01/21&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,860&#160;</td>
                <td align="left" nowrap>Oregon State Facilities Authority, Revenue Bonds,
      Willamette University, Series 2007A,&#160;</td>
                <td align="right" nowrap>10/17 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>2,761,988&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">5.000%, 10/01/32&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">5,460&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Oregon&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">5,429,510&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Pennsylvania &#8211; 1.9%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,300&#160;</td>
                <td align="left" nowrap>Allegheny County Hospital Development Authority,
      Pennsylvania, Revenue Bonds, West Penn&#160;</td>
                <td align="right" nowrap>11/17 at 100.00&#160;</td>
                <td align="right" nowrap>BB&#160;</td>
                <td align="right" nowrap>7,845,201&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Allegheny Health System,
      Series 2007A, 5.000%, 11/15/28&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,500&#160;</td>
                <td align="left" nowrap>Pennsylvania Turnpike Commission, Turnpike Revenue
      Bonds, Series 2004A, 5.500%, 12/01/31 &#8211;&#160;</td>
                <td align="right" nowrap>12/14 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3&#160;</td>
                <td align="right" nowrap>6,674,200&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,000&#160;</td>
                <td align="left" nowrap>Philadelphia School District, Pennsylvania, General
      Obligation Bonds, Series 2004D, 5.125%,&#160;</td>
                <td align="right" nowrap>6/14 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3 (4)&#160;</td>
                <td align="right" nowrap>9,307,680&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6/01/34 (Pre-refunded
      6/01/14) &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,075&#160;</td>
                <td align="left" nowrap>State Public School Building Authority,
      Pennsylvania, Lease Revenue Bonds, Philadelphia School&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>11,425,252&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">District, Series 2003, 5.000%, 6/01/33 (Pre-refunded 6/01/13) &#8211;
      AGM Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">34,875&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Pennsylvania&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">35,252,333&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Puerto Rico &#8211; 2.5%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,340&#160;</td>
                <td align="left" nowrap>Puerto Rico Aqueduct and Sewerage Authority, Revenue
      Bonds, Senior Lien Series 2008A,&#160;</td>
                <td align="right" nowrap>7/18 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#8211;&#160;</td>
                <td align="right" nowrap>8,449,421&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.000%, 7/01/44&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>13,000&#160;</td>
                <td align="left" nowrap>Puerto Rico Highway and Transportation Authority,
      Highway Revenue Bonds, Series 2007N, 5.250%,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>12,116,910&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">7/01/39 &#8211; FGIC
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,450&#160;</td>
                <td align="left" nowrap>Puerto Rico Industrial, Tourist, Educational,
      Medical and Environmental Control Facilities&#160;</td>
                <td align="right" nowrap>6/10 at 101.00&#160;</td>
                <td align="right" nowrap>Baa3&#160;</td>
                <td align="right" nowrap>5,501,067&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Financing Authority,
      Co-Generation Facility Revenue Bonds, Series 2000A, 6.625%,
    6/01/26&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">(Alternative Minimum
    Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,345&#160;</td>
                <td align="left" nowrap>Puerto Rico Infrastructure Financing Authority,
      Special Obligation Bonds, Series 2000A,&#160;</td>
                <td align="right" nowrap>10/10 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,543,740&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 10/01/40&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>11,000&#160;</td>
                <td align="left" nowrap>Puerto Rico Sales Tax Financing Corporation, Sales
      Tax Revenue Bonds, First Subordinate Series&#160;</td>
                <td align="right" nowrap>8/26 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>8,014,270&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2009A, 0.000%,
    8/01/32&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>70,300&#160;</td>
                <td align="left" nowrap>Puerto Rico Sales Tax Financing Corporation, Sales
      Tax Revenue Bonds, Series 2007A, 0.000%,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>4,090,054&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">8/01/54 &#8211; AMBAC
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">5,000&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Puerto
      Rico, General Obligation Bonds, Series 2000B, 5.625%, 7/01/19 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">7/10 at
      100.00&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">A&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">5,017,900&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">117,435&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Puerto Rico&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">47,733,362&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Rhode Island &#8211; 1.3%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,250&#160;</td>
                <td align="left" nowrap>Rhode Island Health and Educational Building
      Corporation, Hospital Financing Revenue Bonds,&#160;</td>
                <td align="right" nowrap>5/10 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>6,242,688&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Lifespan Obligated Group,
      Series 1996, 5.250%, 5/15/26 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>19,195&#160;</td>
                <td align="left" nowrap>Rhode Island Tobacco Settlement Financing
      Corporation, Tobacco Settlement Asset-Backed Bonds,&#160;</td>
                <td align="right" nowrap>6/12 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>18,275,176&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Series 2002A, 6.250%, 6/01/42&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">25,445&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total Rhode
      Island&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">24,517,864&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">South Carolina &#8211; 3.0%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>7,000&#160;</td>
                <td align="left" nowrap>Dorchester County School District 2, South Carolina,
      Installment Purchase Revenue Bonds,&#160;</td>
                <td align="right" nowrap>12/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>7,155,330&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">GROWTH, Series 2004,
      5.250%, 12/01/29&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>Myrtle Beach, South Carolina, Hospitality and
      Accommodation Fee Revenue Bonds, Series 2004A,&#160;</td>
                <td align="right" nowrap>6/14 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>2,910,060&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 6/01/36 &#8211; FGIC
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>11,550&#160;</td>
                <td align="left" nowrap>Piedmont Municipal Power Agency, South Carolina,
      Electric Revenue Bonds, Series 2004A-2,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,383,110&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 1/01/28 &#8211; AMBAC
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,475&#160;</td>
                <td align="left" nowrap>Piedmont Municipal Power Agency, South Carolina,
      Electric Revenue Refunding Bonds, Series&#160;</td>
                <td align="right" nowrap>4/10 at 100.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>8,476,271&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">1986, 5.000%,
    1/01/25&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,320&#160;</td>
                <td align="left" nowrap>South Carolina JOBS Economic Development Authority,
      Economic Development Revenue Bonds, Bon&#160;</td>
                <td align="right" nowrap>11/12 at 100.00&#160;</td>
                <td align="right" nowrap>A3 (4)&#160;</td>
                <td align="right" nowrap>4,871,102&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Secours Health System Inc.,
      Series 2002A, 5.625%, 11/15/30 (Pre-refunded 11/15/12)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>16,430&#160;</td>
                <td align="left" nowrap>South Carolina JOBS Economic Development Authority,
      Economic Development Revenue Bonds, Bon&#160;</td>
                <td align="right" nowrap>11/12 at 100.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>16,141,982&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Secours Health System Inc.,
      Series 2002B, 5.625%, 11/15/30&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,000&#160;</td>
                <td align="left" nowrap>South Carolina JOBS Economic Development Authority,
      Hospital Revenue Bonds, Palmetto Health&#160;</td>
                <td align="right" nowrap>12/10 at 102.00&#160;</td>
                <td align="right" nowrap>Baa2 (4)&#160;</td>
                <td align="right" nowrap>8,640,640&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Alliance, Series 2000A,
      7.375%, 12/15/21 (Pre-refunded 12/15/10)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,215&#160;</td>
                <td align="left" nowrap>Spartanburg Sanitary Sewer District, South Carolina,
      Sewer System Revenue Bonds, Series 2003B,&#160;</td>
                <td align="right" nowrap>3/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>4,231,818&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">5.000%, 3/01/38 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">62,990&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total South
      Carolina&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">56,810,313&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Tennessee &#8211; 1.1%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,300&#160;</td>
                <td align="left" nowrap>Jackson, Tennessee, Hospital Revenue Refunding
      Bonds, Jackson-Madison County General Hospital&#160;</td>
                <td align="right" nowrap>4/18 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>10,382,915&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Project, Series 2008,
      5.625%, 4/01/38&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Knox County Health, Educational and Housing
      Facilities Board, Tennessee, Hospital Revenue&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Bonds, Baptist Health System of East Tennessee Inc.,
      Series 2002:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.375%, 4/15/22&#160;</td>
                <td align="right" nowrap>4/12 at 101.00&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>3,188,490&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,605&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.500%, 4/15/31&#160;</td>
                <td align="right" nowrap>4/12 at 101.00&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>2,738,011&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Sullivan County Health Educational and Housing
      Facilities Board, Tennessee, Revenue Bonds,&#160;</td>
                <td align="right" nowrap>3/13 at 100.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>1,825,540&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Wellmont Health System,
      Refunding Series 200A, 5.486%, 9/01/32&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>Sullivan County Health Educational and Housing
      Facilities Board, Tennessee, Revenue Bonds,&#160;</td>
                <td align="right" nowrap>9/16 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+&#160;</td>
                <td align="right" nowrap>2,666,400&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Wellmont Health System, Series 2006C, 5.250%, 9/01/36&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">20,905&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Tennessee&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">20,801,356&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Texas &#8211; 7.4%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Alliance Airport Authority, Texas, Special
      Facilities Revenue Bonds, American Airlines Inc.,&#160;</td>
                <td align="right" nowrap>12/12 at 100.00&#160;</td>
                <td align="right" nowrap>CCC+&#160;</td>
                <td align="right" nowrap>3,129,800&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2007, 5.250%,
      12/01/29 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Austin Convention Enterprises Inc., Texas,
      Convention Center Hotel Revenue Bonds, First Tier&#160;</td>
                <td align="right" nowrap>1/17 at 100.00&#160;</td>
                <td align="right" nowrap>BB&#160;</td>
                <td align="right" nowrap>1,585,580&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2006B, 5.750%,
      1/01/34&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,110&#160;</td>
                <td align="left" nowrap>Brazos River Authority, Texas, Pollution Control
      Revenue Refunding Bonds, TXU Electric&#160;</td>
                <td align="right" nowrap>4/13 at 101.00&#160;</td>
                <td align="right" nowrap>Caa3&#160;</td>
                <td align="right" nowrap>3,313,426&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Company, Series 1999C,
      7.700%, 3/01/32 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Central Texas Regional Mobility Authority, Travis
      and Williamson Counties, Toll Road Revenue&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Bonds, Series 2005:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 1/01/35 &#8211; FGIC
      Insured&#160;</td>
                <td align="right" nowrap>1/15 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>3,504,600&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>31,550&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 1/01/45 &#8211; FGIC
      Insured&#160;</td>
                <td align="right" nowrap>1/15 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>27,161,078&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>11,250&#160;</td>
                <td align="left" nowrap>Harris County-Houston Sports Authority, Texas,
      Junior Lien Revenue Bonds, Series 2001H,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>3,399,300&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 11/15/27 &#8211; NPFG
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,950&#160;</td>
                <td align="left" nowrap>Harris County-Houston Sports Authority, Texas,
      Senior Lien Revenue Bonds, Series 2001G,&#160;</td>
                <td align="right" nowrap>11/11 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>2,755,182&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 11/15/30 &#8211; NPFG
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>13,270&#160;</td>
                <td align="left" nowrap>Harris County-Houston Sports Authority, Texas, Third
      Lien Revenue Bonds, Series 2004-A3.,&#160;</td>
                <td align="right" nowrap>11/24 at 59.10&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>2,471,272&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 11/15/33 &#8211; NPFG
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>24,660&#160;</td>
                <td align="left" nowrap>Houston, Texas, Hotel Occupancy Tax and Special
      Revenue Bonds, Convention and Entertainment&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>7,542,261&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Project, Series 2001B,
      0.000%, 9/01/29 &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,045&#160;</td>
                <td align="left" nowrap>Houston, Texas, Subordinate Lien Airport System
      Revenue Bonds, Series 2000A, 5.875%, 7/01/16 &#8211;&#160;</td>
                <td align="right" nowrap>7/10 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>10,211,044&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">AGM Insured (Alternative
      Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,470&#160;</td>
                <td align="left" nowrap>Irving Independent School District, Texas, Unlimited
      Tax School Building Bonds, Series 1997,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>3,448,902&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 2/15/11&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Kerrville Health Facilities Development Corporation,
      Texas, Revenue Bonds, Sid Peterson&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>BBB&#8211;&#160;</td>
                <td align="right" nowrap>4,451,000&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Memorial Hospital Project,
      Series 2005, 5.375%, 8/15/35&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>22,060&#160;</td>
                <td align="left" nowrap>Leander Independent School District, Williamson and
      Travis Counties, Texas, Unlimited Tax&#160;</td>
                <td align="right" nowrap>2/10 at 32.48&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>7,156,043&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">School Building and
      Refunding Bonds, Series 2000, 0.000%, 8/15/27&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>North Texas Thruway Authority, First Tier System
      Revenue Refunding Bonds, Capital Appreciation&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Series 2008I:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>30,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 1/01/42 &#8211; AGC
      Insured&#160;</td>
                <td align="right" nowrap>1/25 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>22,006,800&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,220&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 1/01/43&#160;</td>
                <td align="right" nowrap>1/25 at 100.00&#160;</td>
                <td align="right" nowrap>A2&#160;</td>
                <td align="right" nowrap>3,903,516&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>15,450&#160;</td>
                <td align="left" nowrap>North Texas Thruway Authority, First Tier System
      Revenue Refunding Bonds, Capital Appreciation&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>3,287,297&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2008, 0.000%,
      1/01/36 &#8211; AGC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Port Corpus Christi Industrial Development
      Corporation, Texas, Revenue Refunding Bonds, Valero&#160;</td>
                <td align="right" nowrap>4/10 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>4,942,450&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Refining and Marketing
      Company, Series 1997A, 5.400%, 4/01/18&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Richardson Hospital Authority, Texas, Revenue Bonds,
      Richardson Regional Medical Center,&#160;</td>
                <td align="right" nowrap>12/13 at 100.00&#160;</td>
                <td align="right" nowrap>Baa2&#160;</td>
                <td align="right" nowrap>4,595,650&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2004, 6.000%,
      12/01/34&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Sabine River Authority, Texas, Pollution Control
      Revenue Refunding Bonds, TXU Electric&#160;</td>
                <td align="right" nowrap>7/13 at 101.00&#160;</td>
                <td align="right" nowrap>CCC&#160;</td>
                <td align="right" nowrap>1,162,080&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Company, Series 2003A,
      5.800%, 7/01/22&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>San Antonio, Texas, Water System Revenue Bonds,
      Series 2005, 4.750%, 5/15/37 &#8211; NPFG Insured&#160;</td>
                <td align="right" nowrap>5/15 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>2,981,640&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>11,585&#160;</td>
                <td align="left" nowrap>Tarrant County Cultural &amp; Educational Facilities
      Financing Corporation, Texas, Revenue Bonds,&#160;</td>
                <td align="right" nowrap>2/17 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>11,352,257&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2007, Trust 1201,
      9.333%, 2/15/36 (IF)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Tarrant County Cultural Education Facilities Finance
      Corporation, Texas, Revenue Refunding&#160;</td>
                <td align="right" nowrap>1/19 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>5,504,050&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Bonds, Christus Health, Series 2008, 6.500%, 7/01/37&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">222,620&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
    Texas&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">139,865,228&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Utah &#8211; 0.4%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,260&#160;</td>
                <td align="left" nowrap>Eagle Mountain, Utah, Gas and Electric Revenue
      Bonds, Series 2005, 5.000%, 6/01/24 &#8211;&#160;</td>
                <td align="right" nowrap>6/15 at 100.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>3,121,352&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">RAAI Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>460&#160;</td>
                <td align="left" nowrap>Utah Housing Finance Agency, Single Family Mortgage
      Bonds, Series 1998G-2, Class I, 5.200%,&#160;</td>
                <td align="right" nowrap>7/10 at 101.50&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>460,561&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">7/01/30 (Alternative
      Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,700&#160;</td>
                <td align="left" nowrap>Utah State Board of Regents, Utah State University,
      Revenue Bonds, Series 2004, 5.000%,&#160;</td>
                <td align="right" nowrap>4/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA (4)&#160;</td>
                <td align="right" nowrap>4,220,146&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">4/01/35 (Pre-refunded 4/01/14) &#8211; MBIA Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">7,420&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
    Utah&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">7,802,059&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Virgin Islands &#8211; 0.1%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>Virgin Islands Public Finance Authority, Revenue
      Bonds, Refinery Project &#8211; Hovensa LLC, Series&#160;</td>
                <td align="right" nowrap>1/14 at 100.00&#160;</td>
                <td align="right" nowrap>Baa3&#160;</td>
                <td align="right" nowrap>2,520,775&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">2003, 6.125%, 7/01/22 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Virginia &#8211; 0.4%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>Fairfax County Economic Development Authority,
      Virginia, Residential Care Facilities Mortgage&#160;</td>
                <td align="right" nowrap>10/17 at 100.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>2,716,680&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Revenue Bonds, Goodwin
      House, Inc., Series 2007A, 5.125%, 10/01/42&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,125&#160;</td>
                <td align="left" nowrap>Metropolitan Washington D.C. Airports Authority,
      Airport System Revenue Bonds, Series 2002A,&#160;</td>
                <td align="right" nowrap>10/12 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>4,331,621&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">5.750%, 10/01/16 &#8211; FGIC Insured (Alternative Minimum
    Tax)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">7,125&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Virginia&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">7,048,301&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Washington &#8211; 4.2%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,400&#160;</td>
                <td align="left" nowrap>Cowlitz County Public Utilities District 1,
      Washington, Electric Production Revenue Bonds,&#160;</td>
                <td align="right" nowrap>9/14 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>6,390,720&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2004, 5.000%,
      9/01/34 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>12,500&#160;</td>
                <td align="left" nowrap>Energy Northwest, Washington, Electric Revenue
      Refunding Bonds, Columbia Generating Station &#8211;&#160;</td>
                <td align="right" nowrap>7/12 at 100.00&#160;</td>
                <td align="right" nowrap>Aaa&#160;</td>
                <td align="right" nowrap>13,744,875&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Nuclear Project 2, Series
      2002B, 6.000%, 7/01/18 &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,000&#160;</td>
                <td align="left" nowrap>Energy Northwest, Washington, Electric Revenue
      Refunding Bonds, Nuclear Project 3, Series&#160;</td>
                <td align="right" nowrap>7/13 at 100.00&#160;</td>
                <td align="right" nowrap>Aaa&#160;</td>
                <td align="right" nowrap>4,486,160&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2003A, 5.500%, 7/01/17 &#8211;
      SYNCORA GTY Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,200&#160;</td>
                <td align="left" nowrap>Washington Public Power Supply System, Revenue
      Refunding Bonds, Nuclear Project 3, Series&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>Aaa&#160;</td>
                <td align="right" nowrap>7,486,190&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">1989B, 0.000%,
    7/01/14&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>Washington State Health Care Facilities Authority,
      Revenue Bonds, Northwest Hospital and&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>2,032,300&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Medical Center of Seattle,
      Series 2007, 5.700%, 12/01/32&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Washington State Healthcare Facilities Authority,
      Revenue Bonds, Providence Health Care&#160;</td>
                <td align="right" nowrap>10/16 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>4,852,850&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Services, Series 2006A,
      4.625%, 10/01/34 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,780&#160;</td>
                <td align="left" nowrap>Washington State Healthcare Facilities Authority,
      Revenue Bonds, Virginia Mason Medical&#160;</td>
                <td align="right" nowrap>8/17 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>2,555,293&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Center, Series 2007B,
      5.000%, 2/15/27 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>7,895&#160;</td>
                <td align="left" nowrap>Washington State Housing Finance Commission, Single
      Family Program Bonds, 2006 Series 3A,&#160;</td>
                <td align="right" nowrap>12/15 at 100.00&#160;</td>
                <td align="right" nowrap>Aaa&#160;</td>
                <td align="right" nowrap>7,674,808&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 12/01/37
      (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>19,240&#160;</td>
                <td align="left" nowrap>Washington State Tobacco Settlement Authority,
      Tobacco Settlement Asset-Backed Revenue Bonds,&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>19,291,756&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2002, 6.625%,
      6/01/32&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Washington State, Motor Vehicle Fuel Tax General
      Obligation Bonds, Series 2002-03C:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>9,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">0.000%, 6/01/29 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AA+&#160;</td>
                <td align="right" nowrap>3,584,790&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">16,195&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">0.000%, 6/01/30 &#8211; NPFG Insured&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">No Opt.
      Call&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">AA+&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">6,033,447&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">93,710&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Washington&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">78,133,189&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Wisconsin &#8211; 2.0%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Badger Tobacco Asset Securitization Corporation,
      Wisconsin, Tobacco Settlement Asset-Backed&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Bonds, Series 2002:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,360&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.125%, 6/01/27
      (Pre-refunded 6/01/12)&#160;</td>
                <td align="right" nowrap>6/12 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>5,794,857&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>14,750&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.375%, 6/01/32
      (Pre-refunded 6/01/12)&#160;</td>
                <td align="right" nowrap>6/12 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>16,602,895&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,000&#160;</td>
                <td align="left" nowrap>Wisconsin Health and Educational Facilities
      Authority, Revenue Bonds, Franciscan Sisters of&#160;</td>
                <td align="right" nowrap>9/13 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+ (4)&#160;</td>
                <td align="right" nowrap>6,968,100&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Christian Charity
      Healthcare Ministry, Series 2003A, 5.875%, 9/01/33 (Pre-refunded
    9/01/13)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Wisconsin Health and Educational Facilities
      Authority, Revenue Bonds, Marshfield Clinic,&#160;</td>
                <td align="right" nowrap>2/16 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+&#160;</td>
                <td align="right" nowrap>1,021,410&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2006A, 5.000%,
      2/15/17&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,750&#160;</td>
                <td align="left" nowrap>Wisconsin Health and Educational Facilities
      Authority, Revenue Bonds, Wheaton Franciscan&#160;</td>
                <td align="right" nowrap>2/12 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,166,213&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Services Inc., Series 2002,
      5.750%, 8/15/30 (Pre-refunded 2/15/12)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,925&#160;</td>
                <td align="left" nowrap>Wisconsin Housing and Ecconomic Development
      Authority, Home Ownership Revenue Bonds, Series&#160;</td>
                <td align="right" nowrap>9/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>2,707,468&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">2005C, 4.875%, 3/01/36 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">33,785&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Wisconsin&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">37,260,943&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Wyoming &#8211; 0.1%</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,035&#160;</td>
                <td align="left" nowrap>Campbell County, Wyoming Solid Waste Facilities
      Revenue Bonds, Basin Electric Power&#160;</td>
                <td align="right" nowrap>7/19 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>2,147,312&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Cooperative &#8211; Dry Fork Station Facilities, Series 2009A,
      5.750%, 7/15/39&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$&#160;&#160;&#160;&#160;2,433,779&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Investments (cost $1,880,736,294) &#8211; 100.9%&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">1,902,891,169&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Floating
      Rate Obligations &#8211; (2.0)%&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">(38,250,000)</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Other
      Assets Less Liabilities &#8211; 1.1%&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">21,312,634&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">Net Assets
      &#8211; 100%&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$
      1,885,953,803&#160;</td>
              </tr></table>
        </div><br></div>
      <hr align="center" noshade size="2" width="100%">
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&#160;</div>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&#160;</div>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&#160;</div>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&#160;</div>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&#160;</div>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&#160;</div>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&#160;</div>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&#160;</div>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&#160;</div>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&#160;</div>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&#160;</div><br>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
        <div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Fair Value Measurements</font></div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">In determining the value of the Fund's
investments, various inputs are used. These inputs are summarized in the three
broad levels listed below: </div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">&#160;&#160;Level 1 &#8211; Quoted prices in active
markets for identical securities.</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">&#160;&#160;Level 2 &#8211; Other significant observable
inputs (including quoted prices for similar securities, interest rates,
prepayment speeds, credit risk, etc.).</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">&#160;&#160;Level 3 &#8211; Significant unobservable
inputs (including management's assumptions in determining the fair value of
investments).</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">The inputs or methodology used for valuing
securities are not an indication of the risk associated with investing in those
securities. The following is a summary of the Fund's fair value measurements as
of January 31, 2010:</div>
        <div>&#160;</div>
        <div align="left">
          <table border="0" cellspacing="0" style="FONT-SIZE: 10pt; WIDTH: 9in; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
                <td width="34%">
                </td>
                <td width="29%">
                </td>
                <td width="14%">
                </td>
                <td width="10%">
                </td>
                <td width="10%">
                </td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Level 1</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Level 2</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Level 3</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Total</font></td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>Investments:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 2px solid">Municipal Bonds&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$
    &#8212;&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$1,902,891,169&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$
    &#8212;&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$1,902,891,169&#160;</td>
              </tr></table>
        </div><br>
        <div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Income Tax Information</font></div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">The following information is presented on an
income tax basis. Differences between amounts for financial statement and
federal income tax purposes are primarily due to timing differences in
recognizing taxable market discount, timing differences in recognizing certain
gains and losses on investment transactions and the treatment of investments in
inverse floating rate securities reflected as financing transactions, if any. To
the extent that differences arise that are permanent in nature, such amounts are
reclassified within the capital accounts on the Statement of Assets and
Liabilities presented in the annual report, based on their federal tax basis
treatment; temporary differences do not require reclassification. Temporary and
permanent differences do not impact the net asset value of the Fund.</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">At January 31, 2010, the cost of investments was
$1,841,971,180.</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">Gross unrealized appreciation and gross unrealized
depreciation of investments at January 31, 2010, were as follows:</div>
        <div>&#160;</div>
        <div align="left">
          <table border="0" cellspacing="0" style="FONT-SIZE: 10pt; WIDTH: 9in; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
                <td width="62%">
                </td>
                <td width="37%">
                </td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-TOP: #000000 1px solid">Gross
      unrealized:&#160;</td>
                <td align="left" nowrap style="BORDER-TOP: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160; Appreciation&#160;</td>
                <td align="right" nowrap>$113,954,444&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;
      Depreciation&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">(91,284,058)&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">Net
      unrealized appreciation (depreciation) of investments&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$
      22,670,386&#160;</td>
              </tr></table>
        </div><br>
        <div align="left">
          <table border="0" cellspacing="0" style="FONT-SIZE: 10pt; WIDTH: 9in; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
                <td width="7%">
                </td>
                <td width="92%">
                </td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(1)&#160;</td>
                <td align="left" nowrap>All percentages shown in the Portfolio of
      Investments are based on net assets.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(2)&#160;</td>
                <td align="left" nowrap>Optional Call Provisions: Dates (month and year) and
      prices of the earliest optional call or redemption.&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>There may be other call provisions at varying prices
      at later dates. Certain mortgage-backed securities may&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>be subject to periodic principal
  paydowns.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(3)&#160;</td>
                <td align="left" nowrap>Ratings: Using the higher of Standard &amp; Poor's
      Group ("Standard &amp; Poor's") or Moody's Investor Service,&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Inc. ("Moody's") rating. Ratings below BBB by
      Standard &amp; Poor's or Baa by Moody's are considered to be&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>below investment grade.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(4)&#160;</td>
                <td align="left" nowrap>Backed by an escrow or trust containing sufficient
      U.S. Government or U.S. Government agency securities&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>which ensure the timely payment of principal and
      interest. Such investments are normally considered to&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>be equivalent to AAA rated securities.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>N/R&#160;</td>
                <td align="left" nowrap>Not rated.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>WI/DD&#160;</td>
                <td align="left" nowrap>Purchased on a when-issued or delayed delivery
      basis.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(ETM)&#160;</td>
                <td align="left" nowrap>Escrowed to maturity.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(IF)&#160;</td>
                <td align="left" nowrap>Inverse floating rate investment.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(UB)&#160;</td>
                <td align="left" nowrap>Underlying bond of an inverse floating rate trust
      reflected as a financing transaction.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>144A&#160;</td>
                <td align="left" nowrap>Investment is exempt from registration under Rule
      144A of the Securities Act of 1933, as amended. These&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>investments may only be resold in transactions
      exempt from registration which are normally those&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>transactions with qualified institutional
    buyers.&#160;</td>
              </tr></table>
        </div><br></div>
      <hr align="center" noshade size="2" width="100%">
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
2. Controls and Procedures.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
              <td align="right" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">a.&#160;&#160;</font></div>
              </td>
              <td align="left" valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      registrant's principal executive and principal financial officers, or
      persons performing similar functions, have concluded that the registrant's
      disclosure controls and procedures (as defined in Rule 30a-3(c) under the
      Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR
      270.30a-3(c))) are effective, as of a date within 90 days of the filing
      date of this report that includes the disclosure required by this
      paragraph, based on their evaluation of the controls and procedures
      required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and
      Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17
      CFR 240.13a-15(b) or
240.15d-15(b)).</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
              <td align="right" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">b.&#160;&#160;</font></div>
              </td>
              <td align="left" valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">There
      were no changes in the registrant's internal control over financial
      reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR
      270.30a-3(d)) that occurred during the registrant's last fiscal quarter
      that have materially affected, or are reasonably likely to materially
      affect, the registrant's internal control over financial
      reporting.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
3. Exhibits.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">File as
exhibits as part of this Form a separate certification for each principal
executive officer and principal financial officer of the registrant as required
by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth
below: See EX-99 CERT attached hereto.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
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          </div>
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to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.</font></div>
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Fund, Inc.&#160;</font></font></div>
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(Signature and Title) <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;/s/&#160;Kevin
J.
McCarthy&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
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J. McCarthy</font></div>
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President and Secretary</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;April
1, 2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
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to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, this report has been signed below by the following persons
on behalf of the registrant and in the capacities and on the dates
indicated.</font></div>
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(Signature and Title) <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160; &#160;/s/
Gifford R.
Zimmerman&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;</font></font></div>
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R. Zimmerman</font></div>
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Administrative Officer (principal executive officer)&#160;</font></div>
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1, 2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
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(Signature and Title) <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160; /s/
Stephen D.
Foy&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;</font></font></div>
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D. Foy</font></div>
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1,&#160;2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
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<DOCUMENT>
<TYPE>EX-99.CERT
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<FILENAME>certification2.htm
<DESCRIPTION>CERTIFICATIONS
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">CERTIFICATIONS</font></font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I, Gifford R. Zimmerman, certify that:</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
</td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I have reviewed this report on Form N-Q of Nuveen Municipal Value Fund, Inc.;</font></div>
</td>
</tr></table>
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<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font></div>
</td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></div>
</td>
</tr></table>
</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td>
<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</font></div>
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<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td style="WIDTH: 27pt">
<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</font></div>
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<div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.&#160;&#160;</font></div>
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<td>
<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></div>
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<div>
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<div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.&#160;&#160;</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></div>
</td>
</tr></table>
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<div>
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<div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.&#160;&#160;</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and</font></div>
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<div>
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<div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.&#160;&#160;</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</font></div>
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<div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</font></div>
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<div>
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<div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.&#160;&#160;</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</font></div>
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</tr></table>
</div>

<div>
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<div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.&#160;&#160;</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;April 1, 2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Gifford R. Zimmerman</font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gifford R. Zimmerman</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief Administrative Officer</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(principal executive officer)</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>

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<div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
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<div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>

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<hr style="COLOR: black" noshade size="2">
</div>
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
</div>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">CERTIFICATIONS</font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I, Stephen D. Foy, certify that:</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I have reviewed this report on Form N-Q of Nuveen Municipal Value Fund, Inc.;</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;April 1, 2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Stephen D. Foy</font></div>

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