<SEC-DOCUMENT>0001752724-20-221128.txt : 20201030
<SEC-HEADER>0001752724-20-221128.hdr.sgml : 20201030
<ACCEPTANCE-DATETIME>20201030160951
ACCESSION NUMBER:		0001752724-20-221128
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200831
FILED AS OF DATE:		20201030
PERIOD START:           	20210228

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Invesco California Value Municipal Income Trust
		CENTRAL INDEX KEY:			0000895531
		IRS NUMBER:				367017425
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07404
		FILM NUMBER:		201277429

	BUSINESS ADDRESS:	
		STREET 1:		1555 PEACHTREE STREET, N.E.
		STREET 2:		SUITE 1800
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30309
		BUSINESS PHONE:		404-439-3217

	MAIL ADDRESS:	
		STREET 1:		1555 PEACHTREE STREET, N.E.
		STREET 2:		SUITE 1800
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30309

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Invesco Van Kampen California Value Municipal Income Trust
		DATE OF NAME CHANGE:	20100601

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	19981006

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN AMERICAN CAPITAL CALIFORNIA VALUE MUNIC INC TRUST
		DATE OF NAME CHANGE:	19960102
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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        <valUSD>297376.75000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Guam (Territory of) Power Authority</name>
        <lei>549300IPOV320QCKW060</lei>
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        <cusip>400653GN5</cusip>
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          <isin value="US400653GN58"/>
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        <curCd>USD</curCd>
        <valUSD>1615485.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Bay Area Toll Authority (San Francisco Bay Area)</name>
        <lei>5493001FUZGUQMIP5D78</lei>
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        <cusip>072024VM1</cusip>
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          <isin value="US072024VM18"/>
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        <curCd>USD</curCd>
        <valUSD>3867596.40000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>William S. Hart Union High School District (Election of 2008)</name>
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        <cusip>969275QR0</cusip>
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          <isin value="US969275QR05"/>
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        <balance>9370000.00000000</balance>
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        <valUSD>7637393.30000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Orange (County of), CA Community Facilities District No. 2004-1 (Ladera Ranch)</name>
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        <title>Orange (County of), CA Community Facilities District No. 2004-1 (Ladera Ranch), Series 2014 A, Ref. RB</title>
        <cusip>68423PVD9</cusip>
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          <isin value="US68423PVD94"/>
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        <curCd>USD</curCd>
        <valUSD>1054580.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Oroville (City of), CA (Oroville Hospital)</name>
        <lei>N/A</lei>
        <title>Oroville (City of), CA (Oroville Hospital), Series 2019, RB</title>
        <cusip>687241AL3</cusip>
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          <isin value="US687241AL32"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3246870.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tustin Unified School District (Community Facilities District No. 97-1)</name>
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        <cusip>901073GL4</cusip>
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          <isin value="US901073GL42"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8150030.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Santa Margarita Water District (Community Facilities District No. 2013-1)</name>
        <lei>N/A</lei>
        <title>Santa Margarita Water District (Community Facilities District No. 2013-1), Series 2013, RB</title>
        <cusip>802242EP8</cusip>
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          <isin value="US802242EP87"/>
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        <balance>1915000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2092348.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority (Front Porch Communities &amp; Services)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority (Front Porch Communities &amp; Services), Series 2017, Ref. RB</title>
        <cusip>13080SSE5</cusip>
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          <isin value="US13080SSE53"/>
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        <balance>4580000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5144988.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco (City of), CA Bay Area Rapid Transit District</name>
        <lei>N/A</lei>
        <title>San Francisco (City of), CA Bay Area Rapid Transit District, Series 2012 A, RB</title>
        <cusip>797669YU6</cusip>
        <identifiers>
          <isin value="US797669YU66"/>
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        <balance>6565000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7141735.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Public Finance Authority (Henry Mayo Newhall Hospital)</name>
        <lei>N/A</lei>
        <title>California Public Finance Authority (Henry Mayo Newhall Hospital), Series 2017, Ref. RB</title>
        <cusip>13057EAL8</cusip>
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          <isin value="US13057EAL83"/>
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        <balance>2750000.00000000</balance>
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        <valUSD>3027695.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-10-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority (Pacific Highlands Ranch)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority (Pacific Highlands Ranch), Series 2019, RB</title>
        <cusip>13078YPP4</cusip>
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          <isin value="US13078YPP42"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>La Quinta (City of), CA Successor Agency to the Redevelopment Agency (Areas No. 1 and 2)</name>
        <lei>N/A</lei>
        <title>La Quinta (City of), CA Successor Agency to the Redevelopment Agency (Areas No. 1 and 2), Series 2013 A, Ref. RB</title>
        <cusip>50420BAP7</cusip>
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          <isin value="US50420BAP76"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>San Francisco (City &amp; County of) Airport Commission (San Francisco International Airport)</name>
        <lei>54930055TIDYHNDP4F84</lei>
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        <cusip>79766DLH0</cusip>
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          <isin value="US79766DLH07"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Transbay Joint Powers Authority</name>
        <lei>549300WC0UP8WU8GYU95</lei>
        <title>Transbay Joint Powers Authority, Series 2020 A, RB</title>
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          <isin value="US89356CAT36"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-10-01</maturityDt>
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      <invstOrSec>
        <name>San Francisco (City &amp; County of), CA Successor Agency to the Redevelopment Agency (Mission Bay South Redevelopment)</name>
        <lei>5493001TPOZL3UK8DX25</lei>
        <title>San Francisco (City &amp; County of), CA Successor Agency to the Redevelopment Agency (Mission Bay South Redevelopment), Series 2014 A, RB</title>
        <cusip>79770GAU0</cusip>
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          <isin value="US79770GAU04"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>California (State of) Housing Finance Agency</name>
        <lei>549300BOPCVLBA552Z14</lei>
        <title>California (State of) Housing Finance Agency, Series 2019 A-1, RB</title>
        <cusip>13033DAA3</cusip>
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          <isin value="US13033DAA37"/>
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        <valUSD>3673793.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Riverside (County of), CA Community Facilities District No. 07-2 (Clinton Keith)</name>
        <lei>N/A</lei>
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        <name>University of California</name>
        <lei>N/A</lei>
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          <isin value="US91412GSG19"/>
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      <invstOrSec>
        <name>Garden Grove (City of), CA Agency for Community Development</name>
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        <name>California (State of) Health Facilities Financing Authority (Sutter Health)</name>
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          <isin value="US13033LVV60"/>
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        <name>California (State of) Statewide Communities Development Authority (John Muir Health)</name>
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        <name>Calimesa (City of), CA</name>
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      <invstOrSec>
        <name>California (County of), CA Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>California (County of), CA Tobacco Securitization Agency, Series 2020 B-2, Ref. RB</title>
        <cusip>13016NFC3</cusip>
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          <isin value="US13016NFC39"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-01</maturityDt>
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        <name>California (State of) Municipal Finance Authority (Town and Country Manor)</name>
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        <title>California (State of) Municipal Finance Authority (Town and Country Manor), Series 2019, Ref. RB</title>
        <cusip>13048VJY5</cusip>
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          <isin value="US13048VJY56"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Orange (County of), CA Community Facilities District No. 2004-1 (Ladera Ranch)</name>
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        <cusip>68423PVE7</cusip>
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        <name>California Municipal Finance Authority (UCR North District Phase 1 Student)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <cusip>13049YDD0</cusip>
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        <name>Virgin Islands (Government of) Public Finance Authority (Matching Fund Loan Note)</name>
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        <cusip>927676QV1</cusip>
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        <name>Cerritos Community College District (Election of 2012)</name>
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        <name>Children's Trust Fund</name>
        <lei>N/A</lei>
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        <name>California (State of) Educational Facilities Authority (Loma Linda University)</name>
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        <cusip>130179JE5</cusip>
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          <isin value="US130179JE54"/>
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        <name>California (State of) Department of Water Resources (Central Valley)</name>
        <lei>549300X618YEC5LGBQ98</lei>
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        <cusip>13066K2C2</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
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        <name>Golden State Tobacco Securitization Corp.</name>
        <lei>N/A</lei>
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        <cusip>38122NYK2</cusip>
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          <isin value="US38122NYK26"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2045-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of)</name>
        <lei>N/A</lei>
        <title>California (State of), Series 2016, GO Bonds</title>
        <cusip>13063CZU7</cusip>
        <identifiers>
          <isin value="US13063CZU79"/>
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        <balance>6600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8066652.00000000</valUSD>
        <pctVal>1.247541474516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Marin (County of), CA Water District Financing Authority</name>
        <lei>N/A</lei>
        <title>Marin (County of), CA Water District Financing Authority, Series 2012 A, RB</title>
        <cusip>567821BN2</cusip>
        <identifiers>
          <isin value="US567821BN23"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4347560.00000000</valUSD>
        <pctVal>0.672368339795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (Bella Mente Montessori Academy)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (Bella Mente Montessori Academy), Series 2018 A, RB</title>
        <cusip>130486BC6</cusip>
        <identifiers>
          <isin value="US130486BC60"/>
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        <balance>1340000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1402511.00000000</valUSD>
        <pctVal>0.216904192837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Norwalk-La Mirada Unified School District</name>
        <lei>N/A</lei>
        <title>Norwalk-La Mirada Unified School District, Series 2005 B, GO Bonds</title>
        <cusip>669096QC6</cusip>
        <identifiers>
          <isin value="US669096QC62"/>
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        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5331120.00000000</valUSD>
        <pctVal>0.824480008015</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
        <title>Long Beach Unified School District, Series 2012, Ref. GO Bonds</title>
        <cusip>542433NV5</cusip>
        <identifiers>
          <isin value="US542433NV55"/>
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        <balance>11625000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12652650.00000000</valUSD>
        <pctVal>1.956785248394</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Corona-Norco Unified School District (Community Facilities District No. 98-1)</name>
        <lei>N/A</lei>
        <title>Corona-Norco Unified School District (Community Facilities District No. 98-1), Series 2013, Ref. RB</title>
        <cusip>219766LD2</cusip>
        <identifiers>
          <isin value="US219766LD28"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1133580.00000000</valUSD>
        <pctVal>0.175312888752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>California (State of) School Finance Authority (Aspire Public Schools)</name>
        <lei>N/A</lei>
        <title>California (State of) School Finance Authority (Aspire Public Schools), Series 2015 A, Ref. RB</title>
        <cusip>13058TCK4</cusip>
        <identifiers>
          <isin value="US13058TCK43"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>667236.00000000</valUSD>
        <pctVal>0.103190838440</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Irvine (City of), CA (Reassessment District No. 13-1)</name>
        <lei>549300PJ9FL2XGFR8J79</lei>
        <title>Irvine (City of), CA (Reassessment District No. 13-1), Series 2013, Bonds</title>
        <cusip>46360RQM2</cusip>
        <identifiers>
          <isin value="US46360RQM24"/>
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        <balance>350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>391657.00000000</valUSD>
        <pctVal>0.060571393346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Orange (County of), CA Community Facilities District No. 2016-1 (Esencia Village)</name>
        <lei>N/A</lei>
        <title>Orange (County of), CA Community Facilities District No. 2016-1 (Esencia Village), Series 2016 A, RB</title>
        <cusip>68423PXA3</cusip>
        <identifiers>
          <isin value="US68423PXA38"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3366870.00000000</valUSD>
        <pctVal>0.520700529079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clovis Unified School District (Election of 2004)</name>
        <lei>N/A</lei>
        <title>Clovis Unified School District (Election of 2004), Series 2004 A, GO Bonds</title>
        <cusip>189342US5</cusip>
        <identifiers>
          <isin value="US189342US51"/>
        </identifiers>
        <balance>625000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>553856.25000000</valUSD>
        <pctVal>0.085656185837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tustin (City of), CA Public Financing Authority</name>
        <lei>N/A</lei>
        <title>Tustin (City of), CA Public Financing Authority, Series 2011 A, RB</title>
        <cusip>90105TAJ0</cusip>
        <identifiers>
          <isin value="US90105TAJ07"/>
        </identifiers>
        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3599505.00000000</valUSD>
        <pctVal>0.556678504939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>West Sacramento (City of), CA</name>
        <lei>N/A</lei>
        <title>West Sacramento (City of), CA, Series 2019, RB</title>
        <cusip>955656RQ8</cusip>
        <identifiers>
          <isin value="US955656RQ86"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1106560.00000000</valUSD>
        <pctVal>0.171134132728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority (Adventist Health System)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority (Adventist Health System), Series 2015, Ref. RB</title>
        <cusip>13080SJK1</cusip>
        <identifiers>
          <isin value="US13080SJK15"/>
        </identifiers>
        <balance>1730000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2064789.60000000</valUSD>
        <pctVal>0.319328348632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Guam (Territory of)</name>
        <lei>N/A</lei>
        <title>Guam (Territory of), Series 2011 A, RB</title>
        <cusip>40065NAM9</cusip>
        <identifiers>
          <isin value="US40065NAM92"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3093780.00000000</valUSD>
        <pctVal>0.478466018247</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sacramento (County of), CA</name>
        <lei>N/A</lei>
        <title>Sacramento (County of), CA, Series 2018 C, Ref. RB</title>
        <cusip>786107RY0</cusip>
        <identifiers>
          <isin value="US786107RY07"/>
        </identifiers>
        <balance>3315000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3968485.95000000</valUSD>
        <pctVal>0.613742952300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Northern California Transmission Agency (California-Oregon Transmission)</name>
        <lei>N/A</lei>
        <title>Northern California Transmission Agency (California-Oregon Transmission), Series 2016, Ref. RB</title>
        <cusip>664848BZ0</cusip>
        <identifiers>
          <isin value="US664848BZ07"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1757820.00000000</valUSD>
        <pctVal>0.271854215941</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lammersville Joint Unified School District</name>
        <lei>N/A</lei>
        <title>Lammersville Joint Unified School District, Series 2020, RB</title>
        <cusip>513533FA2</cusip>
        <identifiers>
          <isin value="US513533FA27"/>
        </identifiers>
        <balance>135000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146223.90000000</valUSD>
        <pctVal>0.022614137787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Romoland School District Community Facilities No. 2004-1</name>
        <lei>N/A</lei>
        <title>Romoland School District Community Facilities No. 2004-1, Series 2015, Ref. RB</title>
        <cusip>776192NS1</cusip>
        <identifiers>
          <isin value="US776192NS14"/>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp.</name>
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          <isin value="US38122NXS60"/>
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      <invstOrSec>
        <name>Foothill-Eastern Transportation Corridor Agency</name>
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          <isin value="US345105BB58"/>
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        <name>Riverside (County of), CA Public Financing Authority (Desert Communities and Interstate 215 Corridor)</name>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority (Lancer Educational Student Housing)</name>
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          <isin value="US13080SWN07"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority (Cottage Health System Obligated Group)</name>
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        <cusip>130795Y68</cusip>
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        <name>Poway Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Francisco (City &amp; County of), CA Successor Agency to the Redevelopment Agency (Mission Bay South Redevelopment)</name>
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      <invstOrSec>
        <name>Simi Valley Unified School District (Election of 2004)</name>
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          <isin value="US828641UF57"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Irvine (City of), CA (Reassessment District No. 13-1)</name>
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        <name>California (State of) Health Facilities Financing Authority (Stanford Hospital)</name>
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        <name>Oceanside (City of), CA Public Financing Authority (El Corazon Aquatics Center)</name>
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        <name>Foothill-Eastern Transportation Corridor Agency</name>
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        <name>Planada Elementary School District (Election of 2008)</name>
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        <name>Transbay Joint Powers Authority</name>
        <lei>549300WC0UP8WU8GYU95</lei>
        <title>Transbay Joint Powers Authority, Series 2020 A, RB</title>
        <cusip>89356CAU0</cusip>
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        <name>Los Angeles (City of), CA Department of Water &amp; Power</name>
        <lei>N/A</lei>
        <title>Los Angeles (City of), CA Department of Water &amp; Power, Series 2011 A, RB</title>
        <cusip>544525PV4</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Beverly Hills Unified School District (Election of 2008)</name>
        <lei>N/A</lei>
        <title>Beverly Hills Unified School District (Election of 2008), Series 2009, GO Bonds</title>
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        <balance>3000000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>Irvine Unified School District No. 09-1</name>
        <lei>549300BNIP4XNVC0X742</lei>
        <title>Irvine Unified School District No. 09-1, Series 2018 A, Ref. RB</title>
        <cusip>463612MH1</cusip>
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          <isin value="US463612MH15"/>
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        <curCd>USD</curCd>
        <valUSD>1812069.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>El Segundo Unified School District (Election of 2008)</name>
        <lei>N/A</lei>
        <title>El Segundo Unified School District (Election of 2008), Series 2009 A, GO Bonds</title>
        <cusip>284047HB6</cusip>
        <identifiers>
          <isin value="US284047HB62"/>
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        <balance>615000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>490677.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Corona-Norco Unified School District</name>
        <lei>N/A</lei>
        <title>Corona-Norco Unified School District, Series 2020, RB</title>
        <cusip>219766QJ4</cusip>
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          <isin value="US219766QJ43"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>163411.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Irvine (City of), CA Community Facilities District No. 2013-3 (Great Park Improvement Area No. 1)</name>
        <lei>549300PJ9FL2XGFR8J79</lei>
        <title>Irvine (City of), CA Community Facilities District No. 2013-3 (Great Park Improvement Area No. 1), Series 2014, RB</title>
        <cusip>46360TDF7</cusip>
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          <isin value="US46360TDF75"/>
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        <balance>1055000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1153041.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority, Series 2020, RB</title>
        <cusip>13077EHE3</cusip>
        <identifiers>
          <isin value="US13077EHE32"/>
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        <balance>360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>372297.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority (NCCD-Hooper Street LLC-California College of the Arts)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority (NCCD?Hooper Street LLC?California College of the Arts), Series 2019, RB</title>
        <cusip>13081CAD0</cusip>
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          <isin value="US13081CAD02"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2461475.00000000</valUSD>
        <pctVal>0.380677405072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Gilroy Unified School District (Election of 2008)</name>
        <lei>N/A</lei>
        <title>Gilroy Unified School District (Election of 2008), Series 2009 A, GO Bonds</title>
        <cusip>376087DC3</cusip>
        <identifiers>
          <isin value="US376087DC37"/>
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        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>76945.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Daly City (City of), CA Housing Development Finance Agency (Franciscan Mobile Home Park Acquisition)</name>
        <lei>N/A</lei>
        <title>Daly City (City of), CA Housing Development Finance Agency (Franciscan Mobile Home Park Acquisition), Series 2007 C, Ref. RB</title>
        <cusip>235669FK9</cusip>
        <identifiers>
          <isin value="US235669FK96"/>
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        <balance>1800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1802394.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Guam (Territory of) Power Authority</name>
        <lei>549300IPOV320QCKW060</lei>
        <title>Guam (Territory of) Power Authority, Series 2012 A, Ref. RB</title>
        <cusip>400653GM7</cusip>
        <identifiers>
          <isin value="US400653GM75"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2696150.00000000</valUSD>
        <pctVal>0.416970875465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Irvine Ranch Water District</name>
        <lei>2ZRS7W19IBMY48SFBI68</lei>
        <title>Irvine Ranch Water District, Series 2016, RB</title>
        <cusip>4636325M7</cusip>
        <identifiers>
          <isin value="US4636325M72"/>
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        <balance>8175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10036856.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) School Finance Authority (Kipp Socal Public Schools)</name>
        <lei>N/A</lei>
        <title>California (State of) School Finance Authority (Kipp Socal Public Schools), Series 2019 A, RB</title>
        <cusip>13059TFT1</cusip>
        <identifiers>
          <isin value="US13059TFT16"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>903607.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California (State of)</name>
        <lei>N/A</lei>
        <title>California (State of), Series 2013, GO Bonds</title>
        <cusip>13063B3W0</cusip>
        <identifiers>
          <isin value="US13063B3W01"/>
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        <balance>11080000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12308107.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Orange (County of), CA Community Facilities District No. 2015-1 (Esencia Village)</name>
        <lei>N/A</lei>
        <title>Orange (County of), CA Community Facilities District No. 2015-1 (Esencia Village), Series 2015 A, RB</title>
        <cusip>68423PWC0</cusip>
        <identifiers>
          <isin value="US68423PWC03"/>
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        <balance>3555000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3971006.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lammersville Joint Unified School District</name>
        <lei>N/A</lei>
        <title>Lammersville Joint Unified School District, Series 2020, RB</title>
        <cusip>513533FB0</cusip>
        <identifiers>
          <isin value="US513533FB00"/>
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        <balance>320000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>345145.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California (State of)</name>
        <lei>N/A</lei>
        <title>California (State of), Series 2020, GO Bonds</title>
        <cusip>13063DUT3</cusip>
        <identifiers>
          <isin value="US13063DUT35"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8281560.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Inland Empire Tobacco Securitization Authority</name>
        <lei>N/A</lei>
        <title>Inland Empire Tobacco Securitization Authority, Series 2007 C-1, RB</title>
        <cusip>45734TAD6</cusip>
        <identifiers>
          <isin value="US45734TAD63"/>
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        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5375700.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Long Beach (City of), CA</name>
        <lei>N/A</lei>
        <title>Long Beach (City of), CA, Series 2010 A, Sr. RB</title>
        <cusip>542403BG4</cusip>
        <identifiers>
          <isin value="US542403BG47"/>
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        <balance>1590000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1594929.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sacramento (County of), CA</name>
        <lei>N/A</lei>
        <title>Sacramento (County of), CA, Series 2010, RB</title>
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        <name>Golden State Tobacco Securitization Corp.</name>
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        <lei>N/A</lei>
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        <name>California (State of) Municipal Finance Authority (California Baptist University)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Transbay Joint Powers Authority</name>
        <lei>549300WC0UP8WU8GYU95</lei>
        <title>Transbay Joint Powers Authority</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Statewide Communities Development Authority (Alliance for College-Ready Public Schools)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Sacramento (City of), CA Municipal Utility District</name>
        <lei>E3GSVR6ZOU1MX2V7HF33</lei>
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        <cusip>786005YT9</cusip>
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        <name>Southern California Tobacco Securitization Authority (San Diego County Asset Securitization Corp.)</name>
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        <title>Southern California Tobacco Securitization Authority (San Diego County Asset Securitization Corp.), Series 2019, Ref. RB</title>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Health Facilities Financing Authority (St. Joseph Health System)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Long Beach (City of), CA Bond Finance Authority</name>
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        <name>California (State of) Housing Finance Agency</name>
        <lei>549300BOPCVLBA552Z14</lei>
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        <name>South Orange (County of), CA Public Financing Authority (Ladera Ranch)</name>
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        <name>California (State of) Municipal Finance Authority (Touro College and University System)</name>
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        <name>California (State of) School Finance Authority (Alliance for College-Ready Public Schools)</name>
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        <cusip>13059TAG4</cusip>
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      <invstOrSec>
        <name>California (County of), CA Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>California (County of), CA Tobacco Securitization Agency, Series 2020 B-1, Ref. RB</title>
        <cusip>13016NFB5</cusip>
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          <isin value="US13016NFB55"/>
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        <balance>505000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>596814.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Alamitos Unified School District</name>
        <lei>549300YJXGV6HPEZKU12</lei>
        <title>Los Alamitos Unified School District, Series 2013, GO Bonds</title>
        <cusip>544203CE0</cusip>
        <identifiers>
          <isin value="US544203CE04"/>
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        <balance>3340000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3621194.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Riverside Unified School District</name>
        <lei>N/A</lei>
        <title>Riverside Unified School District, Series 2020, RB</title>
        <cusip>769069M44</cusip>
        <identifiers>
          <isin value="US769069M446"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>135056.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Public Works Board (Various Capital)</name>
        <lei>N/A</lei>
        <title>California (State of) Public Works Board (Various Capital), Series 2012 G, RB</title>
        <cusip>13068LAV7</cusip>
        <identifiers>
          <isin value="US13068LAV71"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1639710.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority (Trinity Health Credit Group)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority (Trinity Health Credit Group), Series 2011, Ref. RB</title>
        <cusip>1307954K0</cusip>
        <identifiers>
          <isin value="US1307954K08"/>
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        <balance>10090000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10700848.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Orange (County of), CA Community Facilities District No. 2015-1 (Esencia Village)</name>
        <lei>N/A</lei>
        <title>Orange (County of), CA Community Facilities District No. 2015-1 (Esencia Village), Series 2015 A, RB</title>
        <cusip>68423PWA4</cusip>
        <identifiers>
          <isin value="US68423PWA47"/>
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        <balance>270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>303609.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Calimesa (City of), CA</name>
        <lei>N/A</lei>
        <title>Calimesa (City of), CA, Series 2020, RB</title>
        <cusip>13083UDQ6</cusip>
        <identifiers>
          <isin value="US13083UDQ67"/>
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        <balance>260000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>281148.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Long Beach (City of), CA (Long Beach Towne Center)</name>
        <lei>549300XH3OUOL3JO1O51</lei>
        <title>Long Beach (City of), CA (Long Beach Towne Center), Series 2008, RB</title>
        <cusip>54243EDS9</cusip>
        <identifiers>
          <isin value="US54243EDS90"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2052900.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Marina Redevelopment Agency Successor Agency</name>
        <lei>N/A</lei>
        <title>Marina Redevelopment Agency Successor Agency, Series 2020 A, RB</title>
        <cusip>568061BS3</cusip>
        <identifiers>
          <isin value="US568061BS33"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>322008.00000000</valUSD>
        <pctVal>0.049799884155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Moreno Valley Unified School District (Community Facilities District No. 2015-2)</name>
        <lei>N/A</lei>
        <title>Moreno Valley Unified School District (Community Facilities District No. 2015-2), Series 2019, RB</title>
        <cusip>616874RQ8</cusip>
        <identifiers>
          <isin value="US616874RQ80"/>
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        <balance>485000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>536958.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Pollution Control Financing Authority (San Jose Water Co.)</name>
        <lei>N/A</lei>
        <title>California (State of) Pollution Control Financing Authority (San Jose Water Co.), Series 2010 A, RB</title>
        <cusip>13053CAB8</cusip>
        <identifiers>
          <isin value="US13053CAB81"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5015700.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of)</name>
        <lei>N/A</lei>
        <title>California (State of), Series 2013, Ref. GO Bonds</title>
        <cusip>13063CEW6</cusip>
        <identifiers>
          <isin value="US13063CEW64"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5698600.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>National City (City of), CA Community Development Commission (National City Redevelopment)</name>
        <lei>N/A</lei>
        <title>National City (City of), CA Community Development Commission (National City Redevelopment), Series 2011, RB</title>
        <cusip>634900GB4</cusip>
        <identifiers>
          <isin value="US634900GB40"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>796252.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Francisco (City &amp; County of), CA Airport Commission (San Francisco International Airport)</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>San Francisco (City &amp; County of), CA Airport Commission (San Francisco International Airport), Series 2011 F, Ref. RB</title>
        <cusip>79766DBZ1</cusip>
        <identifiers>
          <isin value="US79766DBZ15"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5147550.00000000</valUSD>
        <pctVal>0.796090139644</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Transbay Joint Powers Authority</name>
        <lei>549300WC0UP8WU8GYU95</lei>
        <title>Transbay Joint Powers Authority</title>
        <cusip>89356CBM7</cusip>
        <identifiers>
          <isin value="US89356CBM73"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>358119.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp.</name>
        <lei>N/A</lei>
        <title>Golden State Tobacco Securitization Corp., Series 2018 A-1, Ref. RB</title>
        <cusip>38122NZU9</cusip>
        <identifiers>
          <isin value="US38122NZU98"/>
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        <balance>18290000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18806143.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sanger Unified School District</name>
        <lei>N/A</lei>
        <title>Sanger Unified School District, Series 1999, Ref. GO Bonds</title>
        <cusip>800851KJ5</cusip>
        <identifiers>
          <isin value="US800851KJ59"/>
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        <balance>370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>387423.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.60000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Santa Clarita Community College District</name>
        <lei>N/A</lei>
        <title>Santa Clarita Community College District, Series 2019, GO Bonds</title>
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          <isin value="US801686SG20"/>
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        <curCd>USD</curCd>
        <valUSD>2534075.10000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California (County of), CA Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>California (County of), CA Tobacco Securitization Agency, Series 2020 A, Ref. RB</title>
        <cusip>13016NEZ3</cusip>
        <identifiers>
          <isin value="US13016NEZ33"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1124410.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco (City of) Bay Area Rapid Transit District (Election of 2004)</name>
        <lei>549300Y3C3QUMLE3FY58</lei>
        <title>San Francisco (City of) Bay Area Rapid Transit District (Election of 2004), Series 2013 C, GO Bonds</title>
        <cusip>797661UH6</cusip>
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          <isin value="US797661UH65"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5701650.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Regents of the University of California</name>
        <lei>N/A</lei>
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        <cusip>91412GSS5</cusip>
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          <isin value="US91412GSS56"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6700740.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>South Orange (County of), CA Public Financing Authority (Ladera Ranch)</name>
        <lei>N/A</lei>
        <title>South Orange (County of), CA Public Financing Authority (Ladera Ranch), Series 2014 A, Ref. RB</title>
        <cusip>839100JN5</cusip>
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          <isin value="US839100JN53"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>796140.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Irvine (City of), CA (Reassessment District No. 13-1)</name>
        <lei>549300PJ9FL2XGFR8J79</lei>
        <title>Irvine (City of), CA (Reassessment District No. 13-1), Series 2013, Bonds</title>
        <cusip>46360RQJ9</cusip>
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          <isin value="US46360RQJ94"/>
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        <balance>355000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>400649.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oakland Unified School District (County of Alameda)</name>
        <lei>N/A</lei>
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        <cusip>672325XT9</cusip>
        <identifiers>
          <isin value="US672325XT95"/>
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        <balance>2430000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2818897.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Public Works Board (Judicial Council)</name>
        <lei>N/A</lei>
        <title>California (State of) Public Works Board (Judicial Council), Series 2013 A, RB</title>
        <cusip>13068LCR4</cusip>
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          <isin value="US13068LCR42"/>
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        <balance>5450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6010805.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ABAG Finance Authority for Non-profit Corps. (Sharp Healthcare)</name>
        <lei>549300EWVCCTI6O2KU84</lei>
        <title>ABAG Finance Authority for Non-profit Corps. (Sharp Healthcare), Series 2014 A, RB</title>
        <cusip>00037CVN7</cusip>
        <identifiers>
          <isin value="US00037CVN72"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2191160.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Fontana Unified School District</name>
        <lei>N/A</lei>
        <title>Fontana Unified School District, Series 2020, GO Bonds</title>
        <cusip>344640XG7</cusip>
        <identifiers>
          <isin value="US344640XG78"/>
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        <balance>5750000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of)</name>
        <lei>N/A</lei>
        <title>California (State of), Series 2011, GO Bonds</title>
        <cusip>13063BMA7</cusip>
        <identifiers>
          <isin value="US13063BMA79"/>
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        <balance>3050000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Santa Ana Unified School District (Financing Project)</name>
        <lei>N/A</lei>
        <title>Santa Ana Unified School District (Financing Project), Series 1999, COP</title>
        <cusip>801163DM5</cusip>
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          <isin value="US801163DM54"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>670810.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Irvine (City of), CA (Reassessment District No. 12-1)</name>
        <lei>549300PJ9FL2XGFR8J79</lei>
        <title>Irvine (City of), CA (Reassessment District No. 12-1), Series 2012, Bonds</title>
        <cusip>46360RLV7</cusip>
        <identifiers>
          <isin value="US46360RLV77"/>
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        <balance>1145000.00000000</balance>
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        <valUSD>1243218.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Riverside (County of), CA Community Facilities District No. 07-2 (Clinton Keith)</name>
        <lei>N/A</lei>
        <title>Riverside (County of), CA Community Facilities District No. 07-2 (Clinton Keith), Series 2015, RB</title>
        <cusip>76911FTK0</cusip>
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          <isin value="US76911FTK02"/>
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        <balance>1500000.00000000</balance>
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        <valUSD>1659510.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Oakland (Port of), CA</name>
        <lei>N/A</lei>
        <title>Oakland (Port of), CA, Series 2012 P, Ref. RB</title>
        <cusip>735000QT1</cusip>
        <identifiers>
          <isin value="US735000QT18"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Housing Finance Agency (Verdant at Green Valley)</name>
        <lei>N/A</lei>
        <title>California (State of) Housing Finance Agency (Verdant at Green Valley), Series 2019 A, RB</title>
        <cusip>13013FAA2</cusip>
        <identifiers>
          <isin value="US13013FAA21"/>
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        <balance>2640000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2975385.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (United Airlines, Inc.)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (United Airlines, Inc.), Series 2019, Ref. RB</title>
        <cusip>13050RAA0</cusip>
        <identifiers>
          <isin value="US13050RAA05"/>
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        <balance>7120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7124984.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (Albert Einstein Academies)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (Albert Einstein Academies), Series 2013, RB</title>
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        <name>Long Beach (City of), CA</name>
        <lei>N/A</lei>
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        <name>Transbay Joint Powers Authority</name>
        <lei>549300WC0UP8WU8GYU95</lei>
        <title>Transbay Joint Powers Authority</title>
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        <curCd>USD</curCd>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Hanford Joint Union High School District (2020 School Financing)</name>
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        <name>Irvine (City of), CA Community Facilities District No. 2013-3 (Great Park Improvement Area No. 1)</name>
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          <isin value="US46360TDE01"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California (State of) Public Works Board (Various State Universities)</name>
        <lei>N/A</lei>
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        <cusip>13068LKD6</cusip>
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          <isin value="US13068LKD63"/>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (Bella Mente Montessori Academy)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (Bella Mente Montessori Academy), Series 2018 A, RB</title>
        <cusip>130486BB8</cusip>
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          <isin value="US130486BB87"/>
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          <maturityDt>2038-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Menifee Union School District (Election of 2008)</name>
        <lei>N/A</lei>
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          <isin value="US586807DW69"/>
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        <balance>850000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Simi Valley Unified School District (Election of 2004)</name>
        <lei>N/A</lei>
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        <balance>1520000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>California (County of), CA Tobacco Securitization Agency (Stanislaus County Tobacco Funding Corp.)</name>
        <lei>N/A</lei>
        <title>California (County of), CA Tobacco Securitization Agency (Stanislaus County Tobacco Funding Corp.), Series 2006 A, RB</title>
        <cusip>13016NCT9</cusip>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-01</maturityDt>
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        <name>San Francisco (City &amp; County of), CA Airport Commission (San Francisco International Airport)</name>
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        <cusip>79766DAE9</cusip>
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          <isin value="US79766DAE94"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3093420.00000000</valUSD>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Beverly Hills Unified School District (Election of 2008)</name>
        <lei>N/A</lei>
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        <cusip>088023JA5</cusip>
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          <isin value="US088023JA56"/>
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        <balance>2010000.00000000</balance>
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        <name>Los Angeles (City of), CA Department of Airports (Los Angeles International Airport)</name>
        <lei>N/A</lei>
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        <cusip>544445CX5</cusip>
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          <maturityDt>2037-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Moreland School District (Crossover Series 14)</name>
        <lei>N/A</lei>
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        <cusip>616794QH9</cusip>
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          <isin value="US616794QH97"/>
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        <name>California (State of) Statewide Communities Development Authority (Lancer Educational Student Housing)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority (Lancer Educational Student Housing), Series 2016, Ref. RB</title>
        <cusip>13080SNN0</cusip>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Francisco (City &amp; County of), CA Public Utilities Commission (Water System Improvement Program)</name>
        <lei>N/A</lei>
        <title>San Francisco (City &amp; County of), CA Public Utilities Commission (Water System Improvement Program), Subseries 2011 A, RB</title>
        <cusip>79765RUS6</cusip>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lucia Mar Unified School District</name>
        <lei>N/A</lei>
        <title>Lucia Mar Unified School District, Series 2020 C, GO Bonds</title>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-08-01</maturityDt>
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      <invstOrSec>
        <name>Transbay Joint Powers Authority</name>
        <lei>549300WC0UP8WU8GYU95</lei>
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          <isin value="US89356CAR79"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Luis Obispo (County of), CA Financing Authority (Lopez Dam Improvement)</name>
        <lei>N/A</lei>
        <title>San Luis Obispo (County of), CA Financing Authority (Lopez Dam Improvement), Series 2011 A, Ref. RB</title>
        <cusip>798693CX3</cusip>
        <identifiers>
          <isin value="US798693CX34"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp., Series 2018 A-1, RB</title>
        <cusip>74529JQD0</cusip>
        <identifiers>
          <isin value="US74529JQD09"/>
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        <balance>1280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1016332.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Simi Valley Unified School District (Election of 2004)</name>
        <lei>N/A</lei>
        <title>Simi Valley Unified School District (Election of 2004), Series 2007 C, GO Bonds</title>
        <cusip>828641UE8</cusip>
        <identifiers>
          <isin value="US828641UE82"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4426900.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sacramento (City of), CA Municipal Utility District</name>
        <lei>E3GSVR6ZOU1MX2V7HF33</lei>
        <title>Sacramento (City of), CA Municipal Utility District, Series 2020 H, RB</title>
        <cusip>786005C89</cusip>
        <identifiers>
          <isin value="US786005C895"/>
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        <balance>12000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14653560.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Irvine (City of), CA (Reassessment District No. 13-1)</name>
        <lei>549300PJ9FL2XGFR8J79</lei>
        <title>Irvine (City of), CA (Reassessment District No. 13-1), Series 2013, Bonds</title>
        <cusip>46360RPY7</cusip>
        <identifiers>
          <isin value="US46360RPY70"/>
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        <balance>705000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>788190.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rancho Cordova (City of), CA Community Facilities District No. 2003-1 (Sunridge Anatolia)</name>
        <lei>N/A</lei>
        <title>Rancho Cordova (City of), CA Community Facilities District No. 2003-1 (Sunridge Anatolia), Series 2012, Ref. RB</title>
        <cusip>75211REL7</cusip>
        <identifiers>
          <isin value="US75211REL78"/>
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        <balance>1425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1508818.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Inland Empire Tobacco Securitization Corp.</name>
        <lei>N/A</lei>
        <title>Inland Empire Tobacco Securitization Corp., Series 2019, Ref. RB</title>
        <cusip>45734TAJ3</cusip>
        <identifiers>
          <isin value="US45734TAJ34"/>
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        <balance>3685000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Francisco (City &amp; County of), CA Redevelopment Financing Authority (Mission Bay North Redevelopment)</name>
        <lei>5493001TPOZL3UK8DX25</lei>
        <title>San Francisco (City &amp; County of), CA Redevelopment Financing Authority (Mission Bay North Redevelopment), Series 2011 C, RB</title>
        <cusip>79771P3Y9</cusip>
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          <isin value="US79771P3Y99"/>
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        <balance>500000.00000000</balance>
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        <valUSD>513585.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (American Heritage Education Foundation)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (American Heritage Education Foundation), Series 2016 A, Ref. RB</title>
        <cusip>13049AAG8</cusip>
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          <isin value="US13049AAG85"/>
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        <balance>2250000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (CHF-Davis I, LLC - West Village Student Housing Project)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (CHF-Davis I, LLC - West Village Student Housing Project), Series 2018, RB</title>
        <cusip>13049YBK6</cusip>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Silicon Valley Tobacco Securitization Authority (Santa Clara)</name>
        <lei>N/A</lei>
        <title>Silicon Valley Tobacco Securitization Authority (Santa Clara), Series 2007 A, RB</title>
        <cusip>82706TAA9</cusip>
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          <isin value="US82706TAA97"/>
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        <balance>7000000.00000000</balance>
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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>La Quinta (City of), CA Successor Agency to the Redevelopment Agency (Areas No. 1 and 2)</name>
        <lei>N/A</lei>
        <title>La Quinta (City of), CA Successor Agency to the Redevelopment Agency (Areas No. 1 and 2), Series 2013 A, Ref. RB</title>
        <cusip>50420BAQ5</cusip>
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          <isin value="US50420BAQ59"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp., Series 2018 A-1, RB</title>
        <cusip>74529JQG3</cusip>
        <identifiers>
          <isin value="US74529JQG30"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2868700.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (County of), CA Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.)</name>
        <lei>N/A</lei>
        <title>California (County of), CA Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.), Series 2006 C, RB</title>
        <cusip>13016NCK8</cusip>
        <identifiers>
          <isin value="US13016NCK81"/>
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        <balance>22950000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-01</maturityDt>
          <couponKind>None</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Educational Facilities Authority (Stanford University)</name>
        <lei>N/A</lei>
        <title>California (State of) Educational Facilities Authority (Stanford University), Series 2010, RB</title>
        <cusip>130178VU7</cusip>
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          <isin value="US130178VU75"/>
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        <balance>8940000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13975455.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <cusip>13048VMY1</cusip>
        <identifiers>
          <isin value="US13048VMY10"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>203232.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp., Series 2018 A-1, RB</title>
        <cusip>74529JQH1</cusip>
        <identifiers>
          <isin value="US74529JQH13"/>
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        <balance>13280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2745241.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California (State of)</name>
        <lei>N/A</lei>
        <title>California (State of), Series 2017, Ref. GO Bonds</title>
        <cusip>13063C6S4</cusip>
        <identifiers>
          <isin value="US13063C6S44"/>
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        <balance>2630000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3249075.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Children's Trust Fund</name>
        <lei>N/A</lei>
        <title>Children's Trust Fund, Series 2005 A, RB</title>
        <cusip>16876QBJ7</cusip>
        <identifiers>
          <isin value="US16876QBJ76"/>
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        <balance>4325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>647236.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Menifee Union School District</name>
        <lei>N/A</lei>
        <title>Menifee Union School District</title>
        <cusip>586810W25</cusip>
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          <isin value="US586810W252"/>
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        <balance>1600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1780688.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Diego (City of), CA Redevelopment Agency (Centre City Redevelopment)</name>
        <lei>N/A</lei>
        <title>San Diego (City of), CA Redevelopment Agency (Centre City Redevelopment), Series 1999 A, RB</title>
        <cusip>797300PP9</cusip>
        <identifiers>
          <isin value="US797300PP93"/>
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        <balance>1865000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1874231.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.40000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (Eisenhower Medical Center)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (Eisenhower Medical Center), Series 2017 A, Ref. RB</title>
        <cusip>13048T4P5</cusip>
        <identifiers>
          <isin value="US13048T4P51"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1684200.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority, Series 2012 A, RB</title>
        <cusip>1307955E3</cusip>
        <identifiers>
          <isin value="US1307955E39"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5266150.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Los Angeles (City of), CA Department of Airports (Los Angeles International Airport)</name>
        <lei>N/A</lei>
        <title>Los Angeles (City of), CA Department of Airports (Los Angeles International Airport), Series 2019 F, RB</title>
        <cusip>544445NU9</cusip>
        <identifiers>
          <isin value="US544445NU90"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2425120.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California (State of) Health Facilities Financing Authority (Lucile Salter Packard Children's Hospital at Stanford)</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California (State of) Health Facilities Financing Authority (Lucile Salter Packard Children's Hospital at Stanford), Series 2017, RB</title>
        <cusip>13032UPW2</cusip>
        <identifiers>
          <isin value="US13032UPW26"/>
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        <balance>1090000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1215251.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bay Area Water Supply &amp; Conservation Agency</name>
        <lei>N/A</lei>
        <title>Bay Area Water Supply &amp; Conservation Agency, Series 2013 A, RB</title>
        <cusip>072031BP1</cusip>
        <identifiers>
          <isin value="US072031BP10"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3893680.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Rancho Cordova (City of), CA Community Facilities District No. 2003-1 (Sunridge Anatolia)</name>
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        <title>Rancho Cordova (City of), CA Community Facilities District No. 2003-1 (Sunridge Anatolia), Series 2012, Ref. RB</title>
        <cusip>75211REM5</cusip>
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          <isin value="US75211REM51"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Virgin Islands (Government of) Port Authority</name>
        <lei>N/A</lei>
        <title>Virgin Islands (Government of) Port Authority, Series 2014 B, Ref. RB</title>
        <cusip>927674BC4</cusip>
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          <isin value="US927674BC46"/>
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        <balance>1720000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1646986.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (County of), CA Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>California (County of), CA Tobacco Securitization Agency, Series 2020 A, Ref. RB</title>
        <cusip>13016NEY6</cusip>
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          <isin value="US13016NEY67"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>705678.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Jose (City of), CA Financing Authority (Civic Center)</name>
        <lei>N/A</lei>
        <title>San Jose (City of), CA Financing Authority (Civic Center), Series 2013 A, Ref. RB</title>
        <cusip>798153LU4</cusip>
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          <isin value="US798153LU47"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5473750.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California (State of)</name>
        <lei>N/A</lei>
        <title>California (State of), Series 2010, GO Bonds</title>
        <cusip>13063BKC5</cusip>
        <identifiers>
          <isin value="US13063BKC53"/>
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        <balance>4340000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4373765.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>Sacramento (City of), CA Municipal Utility District</name>
        <lei>E3GSVR6ZOU1MX2V7HF33</lei>
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        <cusip>786005YH5</cusip>
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          <isin value="US786005YH51"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>North Orange County Community College District (Election of 2014)</name>
        <lei>N/A</lei>
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        <cusip>661334FT4</cusip>
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          <isin value="US661334FT40"/>
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        <valUSD>2933550.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Virgin Islands (Government of) Public Finance Authority (Matching Fund Loan Note - Diageo)</name>
        <lei>N/A</lei>
        <title>Virgin Islands (Government of) Public Finance Authority (Matching Fund Loan Note - Diageo), Series 2009 A, RB</title>
        <cusip>927676NR3</cusip>
        <identifiers>
          <isin value="US927676NR35"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Educational Facilities Authority (Chapman University)</name>
        <lei>N/A</lei>
        <title>California (State of) Educational Facilities Authority (Chapman University), Series 2015, RB</title>
        <cusip>1301787X8</cusip>
        <identifiers>
          <isin value="US1301787X82"/>
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        <balance>2180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2435299.80000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority (Loma Linda University Medical Center)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority (Loma Linda University Medical Center), Series 2014, RB</title>
        <cusip>13080SEX8</cusip>
        <identifiers>
          <isin value="US13080SEX80"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3760575.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) School Finance Authority (New Designs Charter School)</name>
        <lei>N/A</lei>
        <title>California (State of) School Finance Authority (New Designs Charter School), Series 2012, RB</title>
        <cusip>130591AJ9</cusip>
        <identifiers>
          <isin value="US130591AJ90"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>460489.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Orange (County of), CA Community Facilities District (Village of Esencia)</name>
        <lei>N/A</lei>
        <title>Orange (County of), CA Community Facilities District (Village of Esencia), Series 2020, RB</title>
        <cusip>68423PYT1</cusip>
        <identifiers>
          <isin value="US68423PYT10"/>
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        <balance>355000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>384106.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Regents of the University of California</name>
        <lei>N/A</lei>
        <title>Regents of the University of California, Series 2018 O, RB</title>
        <cusip>91412HDB6</cusip>
        <identifiers>
          <isin value="US91412HDB69"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12407900.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Francisco (City &amp; County of), CA Redevelopment Financing Authority (Mission Bay North Redevelopment)</name>
        <lei>5493001TPOZL3UK8DX25</lei>
        <title>San Francisco (City &amp; County of), CA Redevelopment Financing Authority (Mission Bay North Redevelopment), Series 2011 C, RB</title>
        <cusip>79771P3X1</cusip>
        <identifiers>
          <isin value="US79771P3X17"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>410452.00000000</valUSD>
        <pctVal>0.063478118716</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Santa Margarita Water District (Community Facilities District No. 2013-1)</name>
        <lei>N/A</lei>
        <title>Santa Margarita Water District (Community Facilities District No. 2013-1), Series 2013, RB</title>
        <cusip>802242EQ6</cusip>
        <identifiers>
          <isin value="US802242EQ60"/>
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        <balance>2880000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3123561.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-09-01</maturityDt>
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          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>Corona-Norco Unified School District (Community Facilities District No. 98-1)</name>
        <lei>N/A</lei>
        <title>Corona-Norco Unified School District (Community Facilities District No. 98-1), Series 2013, Ref. RB</title>
        <cusip>219766KY7</cusip>
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          <isin value="US219766KY73"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1139360.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>California (State of) Statewide Communities Development Authority (Methodist Hospital of Sothern California)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority (Methodist Hospital of Sothern California), Series 2018; RB</title>
        <cusip>13081KAX8</cusip>
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          <isin value="US13081KAX81"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Guam (Territory of) Waterworks Authority</name>
        <lei>N/A</lei>
        <title>Guam (Territory of) Waterworks Authority</title>
        <cusip>40065FDF8</cusip>
        <identifiers>
          <isin value="US40065FDF80"/>
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        <balance>1540000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1874580.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Guam (Territory of) Waterworks Authority</name>
        <lei>N/A</lei>
        <title>Guam (Territory of) Waterworks Authority, Series 2014 A, Ref. RB</title>
        <cusip>40065FBR4</cusip>
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          <isin value="US40065FBR47"/>
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        <balance>1800000.00000000</balance>
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        <valUSD>1994112.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Beverly Hills Unified School District (Election of 2008)</name>
        <lei>N/A</lei>
        <title>Beverly Hills Unified School District (Election of 2008), Series 2009, GO Bonds</title>
        <cusip>088023JB3</cusip>
        <identifiers>
          <isin value="US088023JB30"/>
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        <balance>430000.00000000</balance>
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        <valUSD>354234.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Palomar Community College District</name>
        <lei>N/A</lei>
        <title>Palomar Community College District, Series 2010, GO Bonds</title>
        <cusip>697511BY8</cusip>
        <identifiers>
          <isin value="US697511BY87"/>
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        <balance>6670000.00000000</balance>
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        <valUSD>7322125.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority (University of California - Irvine East Campus Apartments)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority (University of California - Irvine East Campus Apartments), Series 2017, RB</title>
        <cusip>13078RHG8</cusip>
        <identifiers>
          <isin value="US13078RHG83"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3855005.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <cusip>13077EHD5</cusip>
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          <isin value="US13077EHD58"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>183942.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) School Finance Authority (KIPP LA)</name>
        <lei>N/A</lei>
        <title>California (State of) School Finance Authority (KIPP LA), Series 2015 A, RB</title>
        <cusip>13059TBZ1</cusip>
        <identifiers>
          <isin value="US13059TBZ12"/>
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        <balance>1150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1278547.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Community College Financing Authority (Orange Coast Properties LLC- Orange Coast College)</name>
        <lei>N/A</lei>
        <title>California (State of) Community College Financing Authority (Orange Coast Properties LLC- Orange Coast College), Series 2018, RB</title>
        <cusip>13012RAV1</cusip>
        <identifiers>
          <isin value="US13012RAV15"/>
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        <balance>1335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1373915.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank (Independent System Operator Corp.)</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>California Infrastructure &amp; Economic Development Bank (Independent System Operator Corp.), Series 2013, Ref. RB</title>
        <cusip>13034ADM9</cusip>
        <identifiers>
          <isin value="US13034ADM99"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3256560.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp.</name>
        <lei>N/A</lei>
        <title>Golden State Tobacco Securitization Corp., Series 2015 A, Ref. RB</title>
        <cusip>38122NYJ5</cusip>
        <identifiers>
          <isin value="US38122NYJ52"/>
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        <balance>1805000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2101128.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sacramento (County of), CA Sanitation Districts Financing Authority (Sacramento Regional County Sanitation District)</name>
        <lei>549300MSDPX3EYMUYV38</lei>
        <title>Sacramento (County of), CA Sanitation Districts Financing Authority (Sacramento Regional County Sanitation District), Series 2011 A, Ref. RB</title>
        <cusip>786134TG1</cusip>
        <identifiers>
          <isin value="US786134TG12"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1589835.00000000</valUSD>
        <pctVal>0.245874633012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Los Angeles (City of), CA Department of Airports (Los Angeles International Airport)</name>
        <lei>N/A</lei>
        <title>Los Angeles (City of), CA Department of Airports (Los Angeles International Airport), Series 2017 A, RB</title>
        <cusip>544445CY3</cusip>
        <identifiers>
          <isin value="US544445CY32"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1179060.00000000</valUSD>
        <pctVal>0.182346560994</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Francisco (City &amp; County of), CA Redevelopment Agency Successor Agency (Hunters Point Shipyard)</name>
        <lei>5493001TPOZL3UK8DX25</lei>
        <title>San Francisco (City &amp; County of), CA Redevelopment Agency Successor Agency (Hunters Point Shipyard), Series 2014, Ref. RB</title>
        <cusip>79772ACT2</cusip>
        <identifiers>
          <isin value="US79772ACT25"/>
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        <balance>1685000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1778045.70000000</valUSD>
        <pctVal>0.274982205050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Corona-Norco Unified School District (Community Facilities District No. 98-1)</name>
        <lei>N/A</lei>
        <title>Corona-Norco Unified School District (Community Facilities District No. 98-1), Series 2013, Ref. RB</title>
        <cusip>219766LA8</cusip>
        <identifiers>
          <isin value="US219766LA88"/>
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        <balance>1720000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1955278.80000000</valUSD>
        <pctVal>0.302392045329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Compton Unified School District</name>
        <lei>N/A</lei>
        <title>Compton Unified School District, Series 2019 B, GO Bonds</title>
        <cusip>204736FS6</cusip>
        <identifiers>
          <isin value="US204736FS69"/>
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        <balance>2705000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3043801.25000000</valUSD>
        <pctVal>0.470736595499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Gilroy Unified School District (Election of 2008)</name>
        <lei>N/A</lei>
        <title>Gilroy Unified School District (Election of 2008), Series 2009 A, GO Bonds</title>
        <cusip>376087DG4</cusip>
        <identifiers>
          <isin value="US376087DG41"/>
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        <balance>665000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>593492.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Murrieta Valley Unified School District Public Financing Authority (Election of 2006)</name>
        <lei>N/A</lei>
        <title>Murrieta Valley Unified School District Public Financing Authority (Election of 2006), Series 2008, GO Bonds</title>
        <cusip>626905JE4</cusip>
        <identifiers>
          <isin value="US626905JE45"/>
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        <balance>6670000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5540035.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alhambra Unified School District (Election of 2004)</name>
        <lei>N/A</lei>
        <title>Alhambra Unified School District (Election of 2004), Series 2009 B, GO Bonds</title>
        <cusip>016059DL8</cusip>
        <identifiers>
          <isin value="US016059DL81"/>
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        <balance>1120000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>806724.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Foothill-De Anza Community College District</name>
        <lei>N/A</lei>
        <title>Foothill-De Anza Community College District, Series 2011 C, GO Bonds</title>
        <cusip>345102JG3</cusip>
        <identifiers>
          <isin value="US345102JG33"/>
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        <balance>13500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14100210.00000000</valUSD>
        <pctVal>2.180656457522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Marina Redevelopment Agency Successor Agency</name>
        <lei>N/A</lei>
        <title>Marina Redevelopment Agency Successor Agency, Series 2020 B, RB</title>
        <cusip>568061CJ2</cusip>
        <identifiers>
          <isin value="US568061CJ25"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>319806.00000000</valUSD>
        <pctVal>0.049459335644</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Oak Grove School District (Election of 2008)</name>
        <lei>N/A</lei>
        <title>Oak Grove School District (Election of 2008), Series 2009 A, GO Bonds</title>
        <cusip>671205ZK1</cusip>
        <identifiers>
          <isin value="US671205ZK16"/>
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        <balance>670000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>608219.30000000</valUSD>
        <pctVal>0.094063658919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (Caritas Affordable Housing, Inc.)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (Caritas Affordable Housing, Inc.), Series 2014 A, RB</title>
        <cusip>13049SBE3</cusip>
        <identifiers>
          <isin value="US13049SBE37"/>
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        <balance>3700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4054312.00000000</valUSD>
        <pctVal>0.627016309942</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California State University</name>
        <lei>N/A</lei>
        <title>California State University, Series 2015 A, Ref. RB</title>
        <cusip>13077CY65</cusip>
        <identifiers>
          <isin value="US13077CY652"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3608310.00000000</valUSD>
        <pctVal>0.558040235020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (Orange (County of) Civic Center Infrastructure Improvement Program - Phase I)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (Orange (County of) Civic Center Infrastructure Improvement Program - Phase I), Series 2017 A, RB</title>
        <cusip>13049UCY3</cusip>
        <identifiers>
          <isin value="US13049UCY38"/>
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        <balance>10380000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12270613.20000000</valUSD>
        <pctVal>1.897701659219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Statewide Finance Authority (Pooled Tobacco Securitization)</name>
        <lei>N/A</lei>
        <title>California (State of) Statewide Finance Authority (Pooled Tobacco Securitization), Series 2006 A, RB</title>
        <cusip>130923BM6</cusip>
        <identifiers>
          <isin value="US130923BM69"/>
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        <balance>17000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3486190.00000000</valUSD>
        <pctVal>0.539153866194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Community Housing Agency (Serenity at Larkspur)</name>
        <lei>N/A</lei>
        <title>California (State of) Community Housing Agency (Serenity at Larkspur), Series 2020 A, RB</title>
        <cusip>13013FAC8</cusip>
        <identifiers>
          <isin value="US13013FAC86"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1699665.00000000</valUSD>
        <pctVal>0.262860301929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of)</name>
        <lei>N/A</lei>
        <title>California (State of), Series 2012, GO Bonds</title>
        <cusip>13063BWB4</cusip>
        <identifiers>
          <isin value="US13063BWB43"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4270720.00000000</valUSD>
        <pctVal>0.660484712374</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority, Series 2020, RB</title>
        <cusip>13078YQV0</cusip>
        <identifiers>
          <isin value="US13078YQV01"/>
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        <balance>805000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>906848.60000000</valUSD>
        <pctVal>0.140247929327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yosemite Community College District (Election of 2004)</name>
        <lei>N/A</lei>
        <title>Yosemite Community College District (Election of 2004), Series 2008 C, GO Bonds</title>
        <cusip>987388CG8</cusip>
        <identifiers>
          <isin value="US987388CG83"/>
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        <balance>2655000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2629697.85000000</valUSD>
        <pctVal>0.406693772499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Roseville (City of), CA (Villages at Sierra Vista Community Facilities District No. 1 - Public Facilities)</name>
        <lei>549300OH100KESVPND17</lei>
        <title>Roseville (City of), CA (Villages at Sierra Vista Community Facilities District No. 1 - Public Facilities), Series 2020, RB</title>
        <cusip>777870K62</cusip>
        <identifiers>
          <isin value="US777870K623"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>158358.00000000</valUSD>
        <pctVal>0.024490727109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bay Area Toll Authority (San Francisco Bay Area)</name>
        <lei>5493001FUZGUQMIP5D78</lei>
        <title>Bay Area Toll Authority (San Francisco Bay Area), Series 2017, Ref. RB</title>
        <cusip>072024VS8</cusip>
        <identifiers>
          <isin value="US072024VS87"/>
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        <balance>1240000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1396897.20000000</valUSD>
        <pctVal>0.216035995185</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chino Valley Unified School District</name>
        <lei>N/A</lei>
        <title>Chino Valley Unified School District, Series 2020 B, GO Bonds</title>
        <cusip>169583HB0</cusip>
        <identifiers>
          <isin value="US169583HB08"/>
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        <balance>10385000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13368714.35000000</valUSD>
        <pctVal>2.067527595411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>San Diego (City of), CA Public Facilities Financing Authority (Capital Improvement)</name>
        <lei>N/A</lei>
        <title>San Diego (City of), CA Public Facilities Financing Authority (Capital Improvement), Series 2012 A, RB</title>
        <cusip>797299GF5</cusip>
        <identifiers>
          <isin value="US797299GF57"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3233220.00000000</valUSD>
        <pctVal>0.500030997523</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Mateo &amp; Foster (Cities of), CA Public Financing Authority (Clean Water Program)</name>
        <lei>N/A</lei>
        <title>San Mateo &amp; Foster (Cities of), CA Public Financing Authority (Clean Water Program), Series 2019, RB</title>
        <cusip>79905VAX9</cusip>
        <identifiers>
          <isin value="US79905VAX91"/>
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        <balance>3330000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4223006.10000000</valUSD>
        <pctVal>0.653105558152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Francisco (City &amp; County of), CA Successor Agency to the Redevelopment Agency (Mission Bay South Redevelopment)</name>
        <lei>5493001TPOZL3UK8DX25</lei>
        <title>San Francisco (City &amp; County of), CA Successor Agency to the Redevelopment Agency (Mission Bay South Redevelopment), Series 2014 A, RB</title>
        <cusip>79770GAW6</cusip>
        <identifiers>
          <isin value="US79770GAW69"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1120490.00000000</valUSD>
        <pctVal>0.173288465497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Francisco (City &amp; County of), CA Successor Agency to the Redevelopment Agency (Mission Bay South Redevelopment)</name>
        <lei>5493001TPOZL3UK8DX25</lei>
        <title>San Francisco (City &amp; County of), CA Successor Agency to the Redevelopment Agency (Mission Bay South Redevelopment), Series 2014 A, RB</title>
        <cusip>79770GAP1</cusip>
        <identifiers>
          <isin value="US79770GAP19"/>
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        <balance>370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>428578.40000000</valUSD>
        <pctVal>0.066281442298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Public Works Board (Various State Universities)</name>
        <lei>N/A</lei>
        <title>California (State of) Public Works Board (Various State Universities), Series 2013 H, RB</title>
        <cusip>13068LKE4</cusip>
        <identifiers>
          <isin value="US13068LKE47"/>
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        <balance>8345000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9546763.45000000</valUSD>
        <pctVal>1.476446901548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>El Segundo Unified School District (Election of 2008)</name>
        <lei>N/A</lei>
        <title>El Segundo Unified School District (Election of 2008), Series 2009 A, GO Bonds</title>
        <cusip>284047GZ4</cusip>
        <identifiers>
          <isin value="US284047GZ40"/>
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        <balance>2735000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2316298.85000000</valUSD>
        <pctVal>0.358225306204</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Inland Empire Tobacco Securitization Authority</name>
        <lei>N/A</lei>
        <title>Inland Empire Tobacco Securitization Authority, Series 2007 C-2, RB</title>
        <cusip>45734TAE4</cusip>
        <identifiers>
          <isin value="US45734TAE47"/>
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        <balance>35000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5929350.00000000</valUSD>
        <pctVal>0.916998779905</pctVal>
        <payoffProfile>Long</payoffProfile>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Community Housing Agency (Annadel Apartments)</name>
        <lei>N/A</lei>
        <title>California (State of) Community Housing Agency (Annadel Apartments), Series 2019 A, RB</title>
        <cusip>13013HAA8</cusip>
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          <isin value="US13013HAA86"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Grossmont Union High School District (Election of 2004)</name>
        <lei>N/A</lei>
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        <cusip>399262CF9</cusip>
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          <isin value="US399262CF91"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <cusip>13048VNA2</cusip>
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          <isin value="US13048VNA25"/>
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        <curCd>USD</curCd>
        <valUSD>318027.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) School Finance Authority (KIPP LA)</name>
        <lei>N/A</lei>
        <title>California (State of) School Finance Authority (KIPP LA), Series 2014 A, RB</title>
        <cusip>13059TAQ2</cusip>
        <identifiers>
          <isin value="US13059TAQ22"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>664110.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Los Angeles (City of), CA Community Facilities District No. 4 (Playa Vista - Phase 1)</name>
        <lei>N/A</lei>
        <title>Los Angeles (City of), CA Community Facilities District No. 4 (Playa Vista - Phase 1), Series 2014, Ref. RB</title>
        <cusip>544386DH5</cusip>
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          <isin value="US544386DH58"/>
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        <balance>985000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>South Orange (County of), CA Public Financing Authority (Ladera Ranch)</name>
        <lei>N/A</lei>
        <title>South Orange (County of), CA Public Financing Authority (Ladera Ranch), Series 2014 A, Ref. RB</title>
        <cusip>839100JW5</cusip>
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          <isin value="US839100JW52"/>
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        <balance>1680000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1775222.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Anaheim City School District (Election of 2002)</name>
        <lei>N/A</lei>
        <title>Anaheim City School District (Election of 2002), Series 2007, GO Bonds</title>
        <cusip>03254CDR8</cusip>
        <identifiers>
          <isin value="US03254CDR88"/>
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        <balance>4970000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4831784.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (CHF-Riverside II, LLC - UCR North District Phase I Student Housing)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (CHF-Riverside II, LLC - UCR North District Phase I Student Housing), Series 2019, RB</title>
        <cusip>13049YEE7</cusip>
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          <isin value="US13049YEE77"/>
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        <balance>2840000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3358555.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Irvine Unified School District (District No. 09-1)</name>
        <lei>549300BNIP4XNVC0X742</lei>
        <title>Irvine Unified School District (District No. 09-1), Series 2019 A, RB</title>
        <cusip>463612NB3</cusip>
        <identifiers>
          <isin value="US463612NB36"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1140920.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>M-S-R Energy Authority</name>
        <lei>549300UEMSS1JTK5YB98</lei>
        <title>M-S-R Energy Authority, Series 2009 B, RB</title>
        <cusip>55374SAD2</cusip>
        <identifiers>
          <isin value="US55374SAD27"/>
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        <balance>995000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1268426.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority, Series 2017, RB</title>
        <cusip>13078YLB9</cusip>
        <identifiers>
          <isin value="US13078YLB91"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>722936.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Virgin Islands (Government of) Public Finance Authority</name>
        <lei>N/A</lei>
        <title>Virgin Islands (Government of) Public Finance Authority, Series 2015, RB</title>
        <cusip>927676UF1</cusip>
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          <isin value="US927676UF14"/>
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        <balance>2000000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) School Finance Authority (Green Dot Public Schools)</name>
        <lei>N/A</lei>
        <title>California (State of) School Finance Authority (Green Dot Public Schools), Series 2018 A, RB</title>
        <cusip>13059TFH7</cusip>
        <identifiers>
          <isin value="US13059TFH77"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2013620.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles (City of) Department of Water &amp; Power</name>
        <lei>N/A</lei>
        <title>Los Angeles (City of) Department of Water &amp; Power, Series 2012 A, RB</title>
        <cusip>544525QC5</cusip>
        <identifiers>
          <isin value="US544525QC50"/>
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        <balance>5250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5662860.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority (UCR North District Phase 1 Student)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority (UCR North District Phase 1 Student), Series 2019, RB</title>
        <cusip>13049YEL1</cusip>
        <identifiers>
          <isin value="US13049YEL11"/>
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        <balance>2375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2803592.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Escondido Union School District (Election of 2014)</name>
        <lei>N/A</lei>
        <title>Escondido Union School District (Election of 2014), Series 2018 B, GO Bonds</title>
        <cusip>296371UD7</cusip>
        <identifiers>
          <isin value="US296371UD71"/>
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        <balance>3310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3763205.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Modesto (City of), CA (Community Center Refinancing)</name>
        <lei>549300PM1CEUCI5R7951</lei>
        <title>Modesto (City of), CA (Community Center Refinancing), Series 1993 A, COP</title>
        <cusip>607715FE4</cusip>
        <identifiers>
          <isin value="US607715FE49"/>
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        <balance>2450000.00000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>Northern California Tobacco Securitization Authority</name>
        <lei>N/A</lei>
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        <valUSD>1079429.00000000</valUSD>
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        <name>Marin (County of), CA Water District Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-07-01</maturityDt>
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        <name>California (State of) Statewide Communities Development Authority (NCCD Hooper Street LLC California College of the Arts)</name>
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        <name>California (State of) Municipal Finance Authority (Community Medical Centers)</name>
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        <cusip>13048TS20</cusip>
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          <isin value="US13048TS204"/>
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        <valUSD>4159307.60000000</valUSD>
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          <maturityDt>2047-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority (Emanate Health)</name>
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        <valUSD>2279440.00000000</valUSD>
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          <maturityDt>2045-04-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
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        <cusip>74529JQE8</cusip>
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        <balance>1500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
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      <invstOrSec>
        <name>South Orange (County of), CA Public Financing Authority (Ladera Ranch)</name>
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        <title>South Orange (County of), CA Public Financing Authority (Ladera Ranch), Series 2014 A, Ref. RB</title>
        <cusip>839100JX3</cusip>
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          <isin value="US839100JX36"/>
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        <valUSD>1055770.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Guam (Territory of) Power Authority</name>
        <lei>549300IPOV320QCKW060</lei>
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        <cusip>400653GQ8</cusip>
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          <isin value="US400653GQ89"/>
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        <balance>4000000.00000000</balance>
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        <valUSD>4286360.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico (Commonwealth of) Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <cusip>74526QPN6</cusip>
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          <isin value="US74526QPN69"/>
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        <valUSD>1183637.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>California (State of) School Finance Authority (Granada Hills Charter Obligated Group)</name>
        <lei>N/A</lei>
        <title>California (State of) School Finance Authority (Granada Hills Charter Obligated Group), Series 2019, RB</title>
        <cusip>13059TGL7</cusip>
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          <isin value="US13059TGL70"/>
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        <curCd>USD</curCd>
        <valUSD>2093401.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>San Diego (County of) Regional Transportation Commission</name>
        <lei>W4FR340A6EQ2SSI17B56</lei>
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        <cusip>797400JU3</cusip>
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          <isin value="US797400JU36"/>
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        <balance>7020000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8166857.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Los Angeles (City of)</name>
        <lei>N/A</lei>
        <title>Los Angeles (City of), Series 2012 B, Ref. RB</title>
        <cusip>5446527U8</cusip>
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          <isin value="US5446527U89"/>
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        <valUSD>10809400.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Bay Area Toll Authority (San Francisco Bay Area)</name>
        <lei>5493001FUZGUQMIP5D78</lei>
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        <cusip>072024UH3</cusip>
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          <isin value="US072024UH32"/>
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        <curCd>USD</curCd>
        <valUSD>7726158.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Murrieta (City of), CA Public Financing Authority</name>
        <lei>N/A</lei>
        <title>Murrieta (City of), CA Public Financing Authority, Series 2012, Ref. RB</title>
        <cusip>62719DAN3</cusip>
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          <isin value="US62719DAN30"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Glendale Community College District</name>
        <lei>N/A</lei>
        <title>Glendale Community College District, Series 2020, GO Bonds</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-02-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <name>Orange (County of), CA Community Facilities District (Village of Esencia)</name>
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        <title>Orange (County of), CA Community Facilities District (Village of Esencia), Series 2020, RB</title>
        <cusip>68423PYU8</cusip>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-08-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>San Diego (County of), CA Regional Airport Authority</name>
        <lei>N/A</lei>
        <title>San Diego (County of), CA Regional Airport Authority, Series 2019 B, Ref. RB</title>
        <cusip>79739GMC7</cusip>
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          <isin value="US79739GMC77"/>
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        <balance>1000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>San Francisco Bay Area Rapid Transit District (Election of 2016)</name>
        <lei>549300Y3C3QUMLE3FY58</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Riverside Unified School District</name>
        <lei>N/A</lei>
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        <name>Northern California Power Agency (Hydroelectric No. 1)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California (State of) Municipal Finance Authority (Palmdale Aerospace Academy (The))</name>
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        <title>California (State of) Municipal Finance Authority (Palmdale Aerospace Academy (The)), Series 2018 A, RB</title>
        <cusip>13048DCQ9</cusip>
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          <isin value="US13048DCQ97"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Virgin Islands (Government of) Public Finance Authority (Matching Fund Loan Note)</name>
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        <cusip>927676PT7</cusip>
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          <isin value="US927676PT72"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (Linxs APM)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (Linxs APM), Series 2018 A, RB</title>
        <cusip>13048VBX5</cusip>
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          <isin value="US13048VBX55"/>
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        <balance>3995000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico (Commonwealth of) Electric Power Authority</name>
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        <cusip>74526QPR7</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) School Finance Authority (Alliance for College-Ready Public Schools)</name>
        <lei>N/A</lei>
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        <cusip>13059TBU2</cusip>
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        <name>California (State of) Municipal Finance Authority (Mt. San Antonio Gardens)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <name>Irvine (City of), CA (Reassessment District No. 13-1)</name>
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        <cusip>46360RQL4</cusip>
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        <name>California (State of) Pollution Control Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13054WAA5</cusip>
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          <isin value="US13054WAA53"/>
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        <name>Murrieta (City of), CA Public Financing Authority</name>
        <lei>N/A</lei>
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        <cusip>62719DAP8</cusip>
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        <name>Dry Creek Joint Elementary School District (Election of 2008-Measure E)</name>
        <lei>N/A</lei>
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        <cusip>262386FC4</cusip>
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        <name>ABAG Finance Authority for Non-profit Corps. (Sharp Healthcare)</name>
        <lei>549300EWVCCTI6O2KU84</lei>
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        <cusip>00037CSH4</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority (Henry Mayo Newhall Memorial Hospital)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <cusip>13080SCJ1</cusip>
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          <isin value="US13080SCJ15"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-10-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles County Schools Regionalized Business Services Corp. (Los Angeles County Schools Pooled Financing Program)</name>
        <lei>N/A</lei>
        <title>Los Angeles County Schools Regionalized Business Services Corp. (Los Angeles County Schools Pooled Financing Program), Series 1999 A, COP</title>
        <cusip>545152HM5</cusip>
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        <name>Menifee Union School District</name>
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        <name>Tejon Ranch Public Facilities Financing Authority Community Facilities District No. 2008-1 (Tejon Industrial Complex Public Improments -East)</name>
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        <name>California (State of) Statewide Communities Development Authority</name>
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        <name>Regents of the University of California</name>
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        <name>California State University</name>
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        <name>Mt. San Antonio (City of), CA Community College District (Election 2008)</name>
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        <name>Irvine (City of), CA (Reassessment District No. 12-1)</name>
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        <name>San Francisco (City &amp; County of), CA Airport Commission (San Francisco International Airport)</name>
        <lei>54930055TIDYHNDP4F84</lei>
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        <name>California (State of) Statewide Communities Development Authority (California Baptist University)</name>
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        <name>California (State of)</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-01</maturityDt>
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        <name>California (State of) Municipal Finance Authority (William Jessup University)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <cusip>13048VJF6</cusip>
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          <isin value="US13048VJF67"/>
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        <balance>2700000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-08-01</maturityDt>
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        <name>Compton (City of), CA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Statewide Communities Development Authority (Lancer Educational Student Housing)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority (Lancer Educational Student Housing), Series 2019, RB</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Dry Creek Joint Elementary School District (Election of 2008-Measure E)</name>
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        <cusip>262386FK6</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles (City of), CA Community Facilities District No. 4 (Playa Vista - Phase 1)</name>
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        <cusip>544386DJ1</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Fremont Community Facilities District No. 1 (Pacific Commons)</name>
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        <lei>5493003B5TD5FWUKMD34</lei>
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        <cusip>84247PFH9</cusip>
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        <name>Jurupa Community Services District</name>
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        <name>Southern California Public Power Authority (Milford Wind Corridor Phase II)</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California (State of) Health Facilities Financing Authority (Children's Hospital Los Angeles)</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California (State of) Health Facilities Financing Authority (Children's Hospital Los Angeles), Series 2017 A, Ref. RB</title>
        <cusip>13032UNG9</cusip>
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          <isin value="US13032UNG93"/>
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        <balance>3285000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3694672.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of)</name>
        <lei>N/A</lei>
        <title>California (State of), Series 2011, GO Bonds</title>
        <cusip>13063BPX4</cusip>
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          <isin value="US13063BPX46"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3668280.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Sacramento (City of), CA (Convention Center Complex)</name>
        <lei>N/A</lei>
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        <cusip>786073AW6</cusip>
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          <isin value="US786073AW65"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3327060.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>South Orange (County of), CA Public Financing Authority (Ladera Ranch)</name>
        <lei>N/A</lei>
        <title>South Orange (County of), CA Public Financing Authority (Ladera Ranch), Series 2014 A, Ref. RB</title>
        <cusip>839100JQ8</cusip>
        <identifiers>
          <isin value="US839100JQ84"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>954531.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Jose Evergreen Community College District (Election of 2004)</name>
        <lei>5493006H31JIFYW6Z091</lei>
        <title>San Jose Evergreen Community College District (Election of 2004), Series 2008 B, GO Bonds</title>
        <cusip>798189FT8</cusip>
        <identifiers>
          <isin value="US798189FT87"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>819950.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) School Finance Authority (New Designs Charter School)</name>
        <lei>N/A</lei>
        <title>California (State of) School Finance Authority (New Designs Charter School), Series 2012 A, RB</title>
        <cusip>130591AH3</cusip>
        <identifiers>
          <isin value="US130591AH35"/>
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        <balance>3080000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3166178.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fremont Community Facilities District No. 1 (Pacific Commons)</name>
        <lei>N/A</lei>
        <title>Fremont Community Facilities District No. 1 (Pacific Commons), Series 2015, Ref. RB</title>
        <cusip>357129CK9</cusip>
        <identifiers>
          <isin value="US357129CK95"/>
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        <balance>2095000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2295240.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Joaquin Hills Transportation Corridor Agency</name>
        <lei>N/A</lei>
        <title>San Joaquin Hills Transportation Corridor Agency, Series 2014 A, Ref. RB</title>
        <cusip>798111GJ3</cusip>
        <identifiers>
          <isin value="US798111GJ32"/>
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        <balance>3275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3628798.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Health Facilities Financing Authority (Stanford Health Care)</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California (State of) Health Facilities Financing Authority (Stanford Health Care), Series 2020 A, Ref. RB</title>
        <cusip>13032UVN5</cusip>
        <identifiers>
          <isin value="US13032UVN52"/>
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        <balance>12000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13956240.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Francisco (City of), CA Utilities Commission</name>
        <lei>N/A</lei>
        <title>San Francisco (City of), CA Utilities Commission, Series 2012, RB</title>
        <cusip>79765RXM6</cusip>
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          <isin value="US79765RXM68"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5403700.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California (State of) Health Facilities Financing Authority, Series 2019, RB</title>
        <cusip>13032UUN6</cusip>
        <identifiers>
          <isin value="US13032UUN61"/>
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        <balance>3310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3909176.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (UCR North District Phase 1 Student Housing)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (UCR North District Phase 1 Student Housing), Series 2019, RB</title>
        <cusip>13049YDF5</cusip>
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          <isin value="US13049YDF51"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>579660.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Roseville (City of), CA</name>
        <lei>549300OH100KESVPND17</lei>
        <title>Roseville (City of), CA, Series 2020, RB</title>
        <cusip>777870M45</cusip>
        <identifiers>
          <isin value="US777870M454"/>
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        <balance>1520000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1703920.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Guam (Territory of) International Airport Authority</name>
        <lei>N/A</lei>
        <title>Guam (Territory of) International Airport Authority, Series 2013 C, RB</title>
        <cusip>40064RDK2</cusip>
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          <isin value="US40064RDK23"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3094440.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>West Contra Costa Unified School District</name>
        <lei>N/A</lei>
        <title>West Contra Costa Unified School District, Series 2005, GO Bonds</title>
        <cusip>952347RP9</cusip>
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          <isin value="US952347RP97"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4810850.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>California (State of) School Finance Authority (Aspire Public Schools)</name>
        <lei>N/A</lei>
        <title>California (State of) School Finance Authority (Aspire Public Schools), Series 2016, Ref. RB</title>
        <cusip>13058TDL1</cusip>
        <identifiers>
          <isin value="US13058TDL17"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1666680.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority (Eskaton Properties, Inc.)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority (Eskaton Properties, Inc.), Series 2012, RB</title>
        <cusip>1307955V5</cusip>
        <identifiers>
          <isin value="US1307955V53"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1559955.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>California Statewide Communities Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-09-02</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Woodland (City of), CA Community Facilities District 1</name>
        <lei>N/A</lei>
        <title>Woodland (City of), CA Community Facilities District 1, Series 2019, RB</title>
        <cusip>979568GT3</cusip>
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        <valUSD>1946224.80000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Alhambra Unified School District (Election of 2004)</name>
        <lei>N/A</lei>
        <title>Alhambra Unified School District (Election of 2004), Series 2009 B, GO Bonds</title>
        <cusip>016059DM6</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <name>Moreno Valley Unified School District (Community Facilities District No. 2015-2)</name>
        <lei>N/A</lei>
        <title>Moreno Valley Unified School District (Community Facilities District No. 2015-2), Series 2019, RB</title>
        <cusip>616874RP0</cusip>
        <identifiers>
          <isin value="US616874RP08"/>
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        <valUSD>482667.30000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>San Francisco (City &amp; County of), CA Successor Agency to the Redevelopment Agency (Mission Bay South Redevelopment)</name>
        <lei>5493001TPOZL3UK8DX25</lei>
        <title>San Francisco (City &amp; County of), CA Successor Agency to the Redevelopment Agency (Mission Bay South Redevelopment), Series 2014 A, RB</title>
        <cusip>79770GAQ9</cusip>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Moorpark Unified School District (Election of 2008)</name>
        <lei>N/A</lei>
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        <cusip>616259EZ6</cusip>
        <identifiers>
          <isin value="US616259EZ63"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1662920.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (William Jessup University)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (William Jessup University), Series 2019, Ref. RB</title>
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        <identifiers>
          <isin value="US13048VJE92"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>520175.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-10-14</ncom:dateSigned>
      <ncom:nameOfApplicant>Invesco California Value Municipal Income Trust</ncom:nameOfApplicant>
      <ncom:signature>Sheri Morris</ncom:signature>
      <ncom:signerName>Sheri Morris</ncom:signerName>
      <ncom:title>President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
