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<SEC-DOCUMENT>0000818972-09-000008.txt : 20090824
<SEC-HEADER>0000818972-09-000008.hdr.sgml : 20090824
<ACCEPTANCE-DATETIME>20090824164209
ACCESSION NUMBER:		0000818972-09-000008
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090630
FILED AS OF DATE:		20090824
DATE AS OF CHANGE:		20090824
EFFECTIVENESS DATE:		20090824

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DREYFUS STRATEGIC MUNICIPALS INC
		CENTRAL INDEX KEY:			0000818972
		IRS NUMBER:				133426554
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05245
		FILM NUMBER:		091031553

	BUSINESS ADDRESS:	
		STREET 1:		THE DREYFUS CORPORATION
		STREET 2:		200 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166
		BUSINESS PHONE:		2129228297

	MAIL ADDRESS:	
		STREET 1:		DREYFUS CORP
		STREET 2:		200 PARK AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>form853.htm
<DESCRIPTION>FORM N-Q
<TEXT>

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     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>UNITED STATES</FONT></B><BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>SECURITIES AND EXCHANGE COMMISSION</FONT></B><BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>Washington, D.C. 20549</FONT></B></TD></TR></TABLE></P>
<P align=center>
<TABLE>
<TR>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>FORM N-Q</FONT></TD></TR></TABLE></P>
<DIV align=center>
<TABLE cellSpacing=0 border=0>
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     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>INVESTMENT COMPANY</FONT></TD></TR></TABLE></DIV><BR>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="75%"></TD>
     <TD width="24%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Investment Company Act file number</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>811-5245</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=center>
<TABLE>
<TR>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Dreyfus Strategic Municipals, Inc.</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(Exact name of Registrant as specified in charter)</FONT></TD></TR></TABLE></P>
<P align=center>
<TABLE>
<TR>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>c/o The Dreyfus Corporation</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>200 Park Avenue</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>New York, New York 10166</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(Address of principal executive offices) (Zip code)</FONT></TD></TR></TABLE></P>
<P align=center>
<TABLE>
<TR>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Michael A. Rosenberg, Esq.</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>200 Park Avenue</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>New York, New York 10166</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(Name and address of agent for service)</FONT></TD></TR></TABLE></P>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="36%"></TD>
     <TD width="37%"></TD>
     <TD width="25%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Registrant's telephone number, including area code:</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(212) 922-6000</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Date of fiscal year end:</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>9/30</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Date of reporting period:</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>6/30/2009</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE><BR>
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     <TD noWrap><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>FORM N-Q</FONT></B></TD></TR></TABLE></P>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="27%"></TD>
     <TD width="72%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>Item 1.</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>Schedule of Investments.</FONT></B>&nbsp;</TD></TR></TABLE><BR>
<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>-2-</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

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<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="33%"></TD>
     <TD width="12%"></TD>
     <TD width="13%"></TD>
     <TD width="24%"></TD>
     <TD width="17%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>STATEMENT OF INVESTMENTS</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Dreyfus Strategic Municipals, Inc.</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>June 30, 2009 (Unaudited)</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Long-Term Municipal</FONT></B>&nbsp;</TD>
     <TD noWrap align=center><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Coupon</FONT></B>&nbsp;</TD>
     <TD noWrap align=center><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Maturity</FONT></B>&nbsp;</TD>
     <TD noWrap align=center><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Principal</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Investments--160.6%</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Rate (%)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Date</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Amount ($)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Value ($)</FONT></B>&nbsp;</TD></TR></TABLE><BR>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="35%"></TD>
     <TD width="10%"></TD>
     <TD width="13%"></TD>
     <TD width="24%"></TD>
     <TD width="15%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Alabama--1.8%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Houston County Health Care</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, GO (Insured; AMBAC)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/09</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8,000,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8,198,960</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Alaska--.3%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Alaska Housing Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, General Mortgage</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Insured; National</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Public Finance Guarantee Corp.)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/49</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,335,000</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,343,410</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Arizona--5.0%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Arizona Housing Finance Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SFMR (Mortgage-Backed</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securities Program)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Collateralized: FHLMC, FNMA</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>and GNMA)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.55</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/41</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,911,740</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Glendale Western Loop 101 Public</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Corporation, Third</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Lien Excise Tax Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/38</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,157,800</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Maricopa County Pollution Control</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, PCR (Public</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Service Company of New Mexico</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Palo Verde Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/22</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,425,860</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scottsdale Industrial Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, HR (Scottsdale</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Healthcare) (Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.80</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/11</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,000,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,706,440</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Arkansas--.5%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Arkansas Development Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, SFMR (Mortgage</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Backed Securities Program)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Collateralized: FNMA and GNMA)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/32</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,110,000</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,115,254</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>California--14.9%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Beverly Hills Unified School</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

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<A name="page_4"></A>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="34%"></TD>
     <TD width="11%"></TD>
     <TD width="13%"></TD>
     <TD align=right width="24%"></TD>
     <TD width="16%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>District, GO</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>0.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/30</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,850,000 b</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,378,798</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>California,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GO (Various Purpose)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/31</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,800,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,460,448</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>California,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GO (Various Purpose)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/33</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,507,100</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>California Pollution Control</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Financing Authority, SWDR</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Keller Canyon Landfill</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Company Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.88</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/27</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,620</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>California Statewide Communities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Environmental Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Microgy Holdings</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/38</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,415,660</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>California Statewide Communities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Bentley School)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/32</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,960,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,594,166</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>California Statewide Communities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Daughters of Charity Health</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>System)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/30</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,374,140</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>California Statewide Communities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Daughters of Charity Health</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>System)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/39</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,507,400</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>California Statewide Communities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, Student</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Housing Revenue (CHF-Irvine,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>LLC-UCI East Campus</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Apartments, Phase II)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/32</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,500,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,158,575</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Golden State Tobacco</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securitization Corporation,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/27</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,154,250</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Golden State Tobacco</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securitization Corporation,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/33</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,775,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,785,108</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Golden State Tobacco</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securitization Corporation,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_5"></A>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="34%"></TD>
     <TD width="11%"></TD>
     <TD width="13%"></TD>
     <TD width="24%"></TD>
     <TD width="16%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/47</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,050,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,257,565</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Golden State Tobacco</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securitization Corporation,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.80</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/13</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8,100,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9,734,418</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Golden State Tobacco</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securitization Corporation,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.90</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/13</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,410,660</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>San Diego Public Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Financing Authority, Senior</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sewer Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/34</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,500,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,476,200</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tuolumne Wind Project Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Tuolumne Company</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.88</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/29</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,500,000 c</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,559,850</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Colorado--5.0%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Beacon Point Metropolitan</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>District, GO</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/35</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,358,400</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Colorado Educational and Cultural</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Authority, Charter</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>School Revenue (American</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Academy Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/40</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,500,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,843,630</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Colorado Health Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (American</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Baptist Homes of the Midwest</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Obligated Group)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.90</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/37</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,116,620</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Colorado Housing and Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Single Family</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Program Senior and Subordinate</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Bonds (Collateralized; FHA)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.60</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/32</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,445,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,500,040</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Northwest Parkway Public Highway</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.13</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,455,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11,609,546</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Southlands Metropolitan District</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Number 1, GO (Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.13</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/14</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,483,820</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Florida--7.8%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Clearwater,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

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<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="34%"></TD>
     <TD width="11%"></TD>
     <TD width="13%"></TD>
     <TD align=right width="24%"></TD>
     <TD width="16%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Water and Sewer Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/39</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,919,150</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Florida Housing Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, Housing Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Nelson Park Apartments)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Insured; FSA)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.40</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/1/40</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12,380,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12,520,761</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Greater Orlando Aviation</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Airport Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/20</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8,351,120</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Jacksonville Economic Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Commission, Health Care</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Revenue (Florida</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Proton Therapy Institute</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/27</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000 d</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,416,920</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Orange County Health Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, HR (Orlando</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Regional Healthcare System)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/26</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,955,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,934,101</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Orange County Health Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, HR (Orlando</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Regional Healthcare System)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/09</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>45,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>46,078</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Orange County School Board,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>COP (Master Lease Purchase</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Agreement) (Insured; Assured</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guaranty)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/34</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,041,700</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Georgia--5.2%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Atlanta,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Water and Wastewater Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/27</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,992,800</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Brooks County Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Senior Health and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Housing Facilities Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Presbyterian Home, Quitman,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Inc.) (Collateralized; GNMA)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.70</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/20/39</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,445,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,504,652</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Fulton County Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Georgia</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tech North Avenue Apartments</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project) (Insured; XLCA)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/32</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,500,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,433,375</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Georgia Higher Education</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Authority, Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(USG Real Estate Foundation I,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>LLC Project) (Insured; Assured</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

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<TR>
     <TD width="34%"></TD>
     <TD width="11%"></TD>
     <TD width="13%"></TD>
     <TD align=right width="23%"></TD>
     <TD width="16%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guaranty)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.63</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/38</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,146,100</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Milledgeville-Baldwin County</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Georgia College and State</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Foundation)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/13</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,090,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,445,425</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Milledgeville-Baldwin County</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Georgia College and State</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Foundation) (Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/14</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,402,560</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Hawaii--.3%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hawaii Department of</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Transportation, Special</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facility Revenue (Caterair</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>International Corporation)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.13</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/10</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,400,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,353,044</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Idaho--1.0%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Power County Industrial</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Corporation, SWDR</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(FMC Corporation Project)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.45</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/32</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,395,350</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Illinois--10.1%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Chicago,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GO (Insured; FGIC)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.13</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/10</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>14,565,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>15,520,027</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Chicago,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SFMR (Collateralized: FHLMC,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>FNMA and GNMA)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.55</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/33</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,960,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,029,796</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Chicago,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Wastewater Transmission</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Insured; National</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Public Finance Guarantee</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corp.) (Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/10</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,112,140</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Illinois Finance Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Edward Hospital</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Obligated Group) (Insured;</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>AMBAC)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/1/40</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,500,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,049,480</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Illinois Health Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Advocate</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Health Care Network)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.13</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/10</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,020,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,322,264</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Illinois Health Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (OSF</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE><BR>
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<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="35%"></TD>
     <TD width="10%"></TD>
     <TD width="13%"></TD>
     <TD width="23%"></TD>
     <TD width="16%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Healthcare System)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/09</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,730,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,973,572</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Illinois Health Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Swedish</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>American Hospital)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.88</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/10</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,945,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,222,316</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Metropolitan Pier and Exposition</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, State Tax Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(McCormick Place Expansion</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project) (Insured; National</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Public Finance Guarantee Corp.)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/42</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,325,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,259,077</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Indiana--2.3%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Franklin Township School Building</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, First Mortgage</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Bonds (Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.13</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/15/10</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,500,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,011,550</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Petersburg,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SWDR (Indianapolis Power and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Light Company Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.38</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/29</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,150,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,497,537</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Kansas--5.3%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Kansas Development Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Health Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Sisters of Charity of</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Leavenworth Health Services</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/28</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,043,560</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sedgwick and Shawnee Counties,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SFMR (Mortgage-Backed</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securities Program)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Collateralized: FNMA and GNMA)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.30</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/32</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,055,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,102,719</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sedgwick and Shawnee Counties,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SFMR (Mortgage-Backed</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securities Program)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Collateralized: FNMA and GNMA)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.45</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/33</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,215,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,496,477</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sedgwick and Shawnee Counties,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SFMR (Mortgage-Backed</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securities Program)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Collateralized: FNMA and GNMA)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.70</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/35</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,785,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,675,347</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Wichita,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hospital Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Improvement Revenue (Via</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Christi Health System, Inc.)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/24</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,124,700</FONT>&nbsp;</TD></TR></TABLE><BR>
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<A name="page_9"></A>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="34%"></TD>
     <TD width="11%"></TD>
     <TD width="14%"></TD>
     <TD width="23%"></TD>
     <TD width="15%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Kentucky--2.0%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Kentucky Area Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Districts Financing Trust, COP</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Lease Acquisition Program)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/27</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,980,560</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Louisville/Jefferson County Metro</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Government, Health Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Jewish Hospital and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Saint Mary's HealthCare, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.13</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/1/37</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,300,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,302,116</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Paducah Electric Plant Board,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Insured; Assured</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guaranty)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/35</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,029,900</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Louisiana--1.7%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Lakeshore Villages Master</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Community Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>District, Special Assessment</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/17</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,979,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,316,232</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Louisiana Local Government</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Environmental Facilities and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Community Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Westlake</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Chemical Corporation Projects)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/32</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,663,770</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Maine--.6%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Maine Housing Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mortgage Purchase Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.30</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/23</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,825,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,848,871</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Maryland--1.9%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Maryland Community Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Administration, Department of</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Housing and Community</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development, Residential</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/37</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,215,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,244,393</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Maryland Economic Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, Senior Student</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Housing Revenue (University of</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Maryland, Baltimore Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/33</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,590,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,857,000</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Maryland Economic Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, Student Housing</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (University of</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Maryland, College Park</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project) (Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/13</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,548,100</FONT>&nbsp;</TD></TR></TABLE><BR>
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<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Massachusetts--2.2%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Massachusetts Health and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Educational Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Civic</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Investments Issue)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/15/12</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,600,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,927,872</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Massachusetts Health and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Educational Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Partners</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>HealthCare System Issue)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/32</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>185,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>187,028</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Massachusetts Housing Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Agency, Rental Housing</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mortgage Revenue (Insured;</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>AMBAC)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/40</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,080,920</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Massachusetts Industrial Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Agency, RRR (Ogden Haverhill</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.60</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/19</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,860,720</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Michigan--8.4%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Charyl Stockwell Academy,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>COP</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.90</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/35</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,580,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,742,326</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Detroit,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sewage Disposal System Senior</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Lien Revenue (Insured; FSA)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/33</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,500,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,189,085</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Detroit School District,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>School Building and Site</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Improvement Bonds (GO -</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Unlimited Tax) (Insured; FGIC)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/28</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,930,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,306,577</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Kent Hospital Finance Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Metropolitan Hospital</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/35</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,930,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,417,850</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Kent Hospital Finance Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Metropolitan Hospital</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/40</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,267,280</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Michigan Strategic Fund,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>LOR (The Detroit Edison</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Company Exempt Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project) (Insured; XLCA)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/15/32</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,718,600</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Michigan Strategic Fund,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SWDR (Genesee Power Station</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/21</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12,400,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,203,464</FONT>&nbsp;</TD></TR></TABLE><BR>
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<TR>
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<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Royal Oak Hospital Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, HR (William</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Beaumont Hospital Obligated</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Group)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/39</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,500,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,172,430</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Minnesota--5.8%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Dakota County Community</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Agency, SFMR</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Mortgage-Backed Securities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Program) (Collateralized:</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>FHLMC, FNMA and GNMA)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.15</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/38</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,328,983</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,307,976</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Dakota County Community</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Agency, SFMR</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Mortgage-Backed Securities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Program) (Collateralized:</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>FHLMC, FNMA and GNMA)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.30</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/39</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,596,246</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,593,883</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Duluth Economic Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Health Care</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Revenue (Saint</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Luke's Hospital)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/32</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,423,300</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Minneapolis.</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Health Care System Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Fairview Health Services)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Insured; Assured Guaranty)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/38</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,492,700</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>North Oaks,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Senior Housing Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Presbyterian Homes of North</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Oaks, Inc. Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/47</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,265,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,266,019</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Saint Paul Housing and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Redevelopment Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hospital Facility Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(HealthEast Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/30</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,500,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,754,010</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Saint Paul Housing and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Redevelopment Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hospital Facility Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(HealthEast Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/35</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>500,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>381,255</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Winona,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Health Care Facilities Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Winona Health Obligated Group)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/26</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,779,600</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Mississippi--4.7%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Clairborne County,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>PCR (System Energy Resources,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

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<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="34%"></TD>
     <TD width="11%"></TD>
     <TD width="13%"></TD>
     <TD width="24%"></TD>
     <TD width="16%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Inc. Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.20</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/1/26</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,545,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,159,948</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mississippi Business Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, PCR (System</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Energy Resources, Inc. Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.88</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/22</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>14,310,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>13,015,231</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Warren County,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gulf Opportunity Zone Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(International Paper Company</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Projects)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/32</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,553,900</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Missouri--3.2%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Missouri Development Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Board, Infrastructure</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Revenue (Branson</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Landing Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.38</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/27</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,752,500</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Missouri Development Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Board, Infrastructure</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Revenue (Branson</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Landing Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/32</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,500,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,856,500</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Missouri Development Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Board, Infrastructure</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Independence, Crackerneck</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Creek Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/1/28</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,855,420</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Missouri Health and Educational</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Authority, Health</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Revenue (Saint</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Anthony's Medical Center)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/10</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,750,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,320,578</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Montana--.2%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Montana Board of Housing,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SFMR</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.45</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/29</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,105,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,121,177</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Nevada--2.7%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Washoe County,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GO Convention Center Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Reno-Sparks Convention and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Visitors Authority) (Insured;</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>FSA) (Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.40</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/10</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12,000,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12,352,920</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>New Hampshire--3.0%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New Hampshire Business Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, PCR (Public Service</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Company of New Hampshire)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE><BR>
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<A name="page_13"></A>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="29%"></TD>
     <TD width="16%"></TD>
     <TD width="13%"></TD>
     <TD width="24%"></TD>
     <TD width="15%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Insured; AMBAC)</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp; </TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/21</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,947,290</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New Hampshire Health and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Educational Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Exeter</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/24</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,005,090</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New Hampshire Health and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Educational Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Exeter</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/31</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>955,240</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New Hampshire Industrial</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, PCR</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Connecticut Light and Power</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Company Project)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.90</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/16</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,200</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>New Jersey--3.5%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New Jersey Economic Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Cigarette Tax</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/34</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,500,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,219,380</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New Jersey Higher Education</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Student Assistance Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Student Loan Revenue (Insured;</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Assured Guaranty) 6.13</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/30</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,990,900</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement Financing</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation of New Jersey,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/13</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,640,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,762,755</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>New Mexico--1.1%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Farmington,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>PCR (Tucson Electric Power</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Company San Juan Project) 6.95</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/20</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,001,200</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New Mexico Mortgage Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Single Family</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mortgage Program Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Collateralized: FHLMC, FNMA</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>and GNMA)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/31</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>915,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>925,760</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New Mexico Mortgage Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Single Family</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mortgage Program Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Collateralized: FHLMC, FNMA</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>and GNMA)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.15</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/35</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,130,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,148,170</FONT>&nbsp;</TD></TR></TABLE><BR>
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<A name="page_14"></A>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="35%"></TD>
     <TD width="10%"></TD>
     <TD width="14%"></TD>
     <TD width="23%"></TD>
     <TD width="16%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>New York--4.3%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New York City Industrial</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Agency, Liberty</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (7 World Trade Center</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/1/15</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,275,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,859,566</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New York City Industrial</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Agency, PILOT</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Yankee Stadium</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project) (Insured; Assured</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guaranty)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/1/49</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,622,050</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New York City Industrial</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Agency, Special</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facility Revenue (American</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Airlines, Inc. John F. Kennedy</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>International Airport Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/28</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,300,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,152,788</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement Financing</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation of New York,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Revenue Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(State Contingency Contract</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Secured) (Insured; AMBAC)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/21</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,037,950</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Triborough Bridge and Tunnel</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/30</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,220,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,290,835</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>North Carolina--.7%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>North Carolina Housing Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Agency, Home Ownership Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.88</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/31</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,415,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,420,259</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>North Dakota--.1%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>North Dakota Housing Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Agency, Home Mortgage Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Housing Finance Program)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.15</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/31</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>405,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>414,882</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Ohio--3.3%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Buckeye Tobacco Settlement</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Financing Authority, Tobacco</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Settlement Asset-Backed Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.88</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/30</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,131,920</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Buckeye Tobacco Settlement</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Financing Authority, Tobacco</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Settlement Asset-Backed Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/47</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9,900,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,110,775</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Canal Winchester Local School</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>District, School Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Construction and Improvement</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>and Advance Refunding Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

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<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="35%"></TD>
     <TD width="11%"></TD>
     <TD width="13%"></TD>
     <TD width="24%"></TD>
     <TD width="15%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(GO - Unlimited Tax) (Insured;</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>National Public Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guarantee Corp.)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>0.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/29</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,955,000 b</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,208,806</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Canal Winchester Local School</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>District, School Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Construction and Improvement</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>and Advance Refunding Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(GO - Unlimited Tax) (Insured;</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>National Public Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guarantee Corp.)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>0.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/31</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,955,000 b</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,049,934</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Port of Greater Cincinnati</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, Tax</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Increment Development Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Fairfax Village Red Bank</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Infrastructure Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.63</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/1/36</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,994,970</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Toledo Lucas County Port</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Airport Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Baxter Global Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/13</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,100,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,844,622</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Oklahoma--1.4%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Oklahoma Housing Finance Agency,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SFMR (Homeownership Loan</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Program)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.55</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/28</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>825,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>836,006</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Oklahoma Housing Finance Agency,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SFMR (Homeownership Loan</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Program) (Collateralized: FNMA</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>and GNMA)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.55</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/27</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>520,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>532,392</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Oklahoma Industries Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Health System Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Obligated Group) (Insured;</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>National Public Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guarantee Corp.) (Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/15/09</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,160,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,246,378</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Pennsylvania--.8%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Pennsylvania Economic Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Financing Authority, SWDR (USG</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/31</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,560,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,705,216</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Philadelphia Authority for</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Industrial Development,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Please Touch Museum</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/31</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,500,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,987,050</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Rhode Island--1.2%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Rhode Island Health and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

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<TR>
     <TD width="34%"></TD>
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<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Educational Building</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, Hospital</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Financing Revenue (Lifespan</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Obligated Group Issue)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Insured; Assured Guaranty)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/39</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,498,750</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>South Carolina--2.3%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>South Carolina Public Service</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue Obligations</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/38</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,490,200</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Tennessee--5.5%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Johnson City Health and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Educational Facilities Board,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hospital First Mortgage</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Mountain States</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Health Alliance) (Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/12</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,672,750</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Johnson City Health and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Educational Facilities Board,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hospital First Mortgage</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Mountain States</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Health Alliance) (Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/12</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,403,650</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Knox County Health, Educational</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>and Housing Facility Board,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (University Health</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>System, Inc.)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/36</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,060,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,152,185</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Memphis Center City Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Finance Corporation, Sports</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facility Revenue (Memphis</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Redbirds Baseball Foundation</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/28</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,000,000 e</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,725,200</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Metropolitan Government of</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Nashville and Davidson County</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Health and Educational</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Board, Revenue (The</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Vanderbilt University)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/34</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,404,180</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Texas--17.4%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Austin Convention Enterprises</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Inc., Convention Center Hotel</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>First Tier Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.70</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/11</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,000,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,347,720</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Austin Convention Enterprises,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Inc., Convention Center Hotel</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Second Tier Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/34</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,091,900</FONT>&nbsp;</TD></TR></TABLE><BR>
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<A name="page_17"></A>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="34%"></TD>
     <TD width="11%"></TD>
     <TD width="13%"></TD>
     <TD width="23%"></TD>
     <TD width="16%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Brazos River Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>PCR (TXU Electric Company</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/33</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,798,760</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Cities of Dallas and Fort Worth,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Dallas/Fort Worth</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>International Airport, Joint</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Insured; National</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Public Finance Guarantee Corp.)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/28</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,004,320</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Dallas Area Rapid Transit,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Senior Lien Sales Tax Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/48</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,046,000</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gulf Coast Industrial Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Environmental</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Revenue (Microgy</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Holdings Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/36</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,652,060</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Harris County Health Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Corporation, HR</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Memorial Hermann Healthcare</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>System)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/35</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,152,420</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Harris County Health Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Corporation, HR</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Memorial Hermann Healthcare</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>System) (Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.38</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8,500,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9,426,415</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Houston,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Airport System Special</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Continental Airlines, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Terminal E Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/29</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,800,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,169,276</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Houston,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Combined Utility System First</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Lien Revenue (Insured; Assured</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guaranty)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/36</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,433,150</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>North Texas Tollway Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>First Tier System Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Insured; Assured Guaranty)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/40</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,300,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,678,113</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>North Texas Tollway Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Second Tier System Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/38</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,500,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,291,550</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sabine River Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>PCR (TXU Electric Company</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.45</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/21</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11,300,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,335,634</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sam Rayburn Municipal Power</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE><BR>
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<A name="page_18"></A>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="34%"></TD>
     <TD width="11%"></TD>
     <TD width="13%"></TD>
     <TD width="24%"></TD>
     <TD width="16%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Agency, Power Supply System</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/21</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,901,120</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Texas Department of Housing and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Community Affairs, Home</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mortgage Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Collateralized: FHLMC, FNMA</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>and GNMA)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12.65</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/2/24</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>800,000 f</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>855,448</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Texas Turnpike Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Central Texas Turnpike System</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Insured; AMBAC)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/15/38</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,100,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,865,984</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Vermont--.1%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Vermont Housing Finance Agency,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SFHR (Insured; FSA)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.40</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/30</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>675,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>688,331</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Virginia--2.5%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Greater Richmond Convention Center</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Hotel Tax Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Convention Center Expansion</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project) (Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/10</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,500,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11,188,275</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Pittsylvania County Industrial</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, Exempt</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facility Revenue (Multitrade</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>of Pittsylvania County, L.P.</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.65</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/10</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>200,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>205,134</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Washington--5.0%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Seattle,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Water System Revenue (Insured;</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>FGIC) (Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/09</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,000,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,101,600</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Washington Health Care Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Mortgage Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Highline Medical Center)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Collateralized; FHA)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/36</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,291,840</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Washington Higher Education</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Authority, Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Seattle University Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Insured; AMBAC)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/37</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,210,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,990,112</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Washington Housing Finance</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Commission, Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Single-Family Program)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Collateralized: FHLMC, FNMA</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>and GNMA)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.15</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/37</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,912,550</FONT>&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

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<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>West Virginia--1.4%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>The County Commission of Pleasants</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>County, PCR (Allegheny Energy</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Supply Company, LLC Pleasants</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Station Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/15/37</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,351,650</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>West Virginia Water Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Water Development</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Insured; AMBAC)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.38</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/39</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,250,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,256,368</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Wisconsin--8.5%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Badger Tobacco Asset</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securitization Corporation,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.13</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/27</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8,425,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9,158,396</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Badger Tobacco Asset</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securitization Corporation,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.00</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/12</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>22,995,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>26,137,497</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Madison,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>IDR (Madison Gas and Electric</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Company Projects)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.88</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/34</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,390,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,338,974</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Wisconsin Health and Educational</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Authority, Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Aurora Health Care, Inc.)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.40</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/15/33</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,903,800</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Wyoming--1.9%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sweetwater County,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SWDR (FMC Corporation Project)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.60</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/35</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,500,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,647,250</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Wyoming Municipal Power Agency,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Power Supply System Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/33</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,360,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,356,908</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Wyoming Municipal Power Agency,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Power Supply System Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.38</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/42</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,750,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,649,900</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>U.S. Related--3.7%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Government of Guam,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>LOR (Section 30)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/34</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,960,640</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guam Housing Corporation,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SFMR (Guaranteed</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mortgage-Backed Securities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Program) (Collateralized;</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>FHLMC)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>
     <TD noWrap align=center><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/31</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>965,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>986,877</FONT>&nbsp;</TD></TR></TABLE><BR>
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<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="34%"></TD>
     <TD width="11%"></TD>
     <TD width="13%"></TD>
     <TD width="22%"></TD>
     <TD width="17%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Puerto Rico Commonwealth,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Public Improvement GO</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/32</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,807,000</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Puerto Rico Highways and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Transportation Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Transportation Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/10</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,000,000 a</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,377,100</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Puerto Rico Sales Tax Financing</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, Sales Tax Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(First Subordinate Series)</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/42</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,881,320</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Total Investments </FONT></B><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(cost $774,628,637)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>160.6%</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>742,732,878</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Cash and Receivables (Net)</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>1.0%</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>4,710,505</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Preferred Stock, at redemption value</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>(61.6%)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>(285,000,000)</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left colSpan=2><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Net Assets Applicable to Common Shareholders</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>100.0%</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>462,443,383</FONT></B>&nbsp;</TD></TR></TABLE><BR>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD vAlign=top noWrap width="2%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>a</FONT>&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on the municipal issue and to retire the bonds in full at the earliest refunding date.</FONT> </TD></TR>
<TR>
     <TD vAlign=top noWrap width="2%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>b</FONT>&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>Security issued with a zero coupon. Income is recognized through the accretion of discount.</FONT> </TD></TR>
<TR>
     <TD vAlign=top noWrap width="2%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>c</FONT>&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>Purchased on a delayed delivery basis.</FONT> </TD></TR>
<TR>
     <TD vAlign=top noWrap width="2%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>d</FONT>&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2009, this security amounted to $2,416,920 or .5% of net assets applicable to Common Shareholders.</FONT> </TD></TR>
<TR>
     <TD vAlign=top noWrap width="2%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>e</FONT>&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>Non-income producing--security in default.</FONT> </TD></TR>
<TR>
     <TD vAlign=top noWrap width="2%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>f</FONT>&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>Inverse floater security--the interest rate is subject to change periodically.</FONT> </TD></TR></TABLE>
<P align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>At June 30, 2009, the aggregate cost of investment securities for income tax purposes was $774,628,637. Net unrealized depreciation on investments was $31,895,759 of which $28,734,141 related to appreciated investment securities and $60,629,900 related to depreciated investment securities.</FONT></P>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="10%"></TD>
     <TD width="44%"></TD>
     <TD width="10%"></TD>
     <TD width="34%"></TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Summary of Abbreviations</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>ABAG</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Association Of Bay Area Governments</FONT>&nbsp;</TD>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>ACA</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>American Capital Access</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>AGC</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>ACE Guaranty Corporation</FONT>&nbsp;</TD>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>AGIC</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset Guaranty Insurance Company</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>AMBAC</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>American Municipal Bond Assurance Corporation</FONT>&nbsp;</TD>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>ARRN</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Adjustable Rate Receipt Notes</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>BAN</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Bond Anticipation Notes</FONT>&nbsp;</TD>
     <TD noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>BIGI</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Bond Investors Guaranty Insurance</FONT>&nbsp;</TD></TR></TABLE><BR>
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<TABLE border=0 cellspacing=0>
<TR>
     <TD width=10%></TD>
     <TD width=38%></TD>
     <TD width=12%></TD>
     <TD width=37%></TD></TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">BPA</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Bond Purchase Agreement</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">CGIC</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Capital Guaranty Insurance Company</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">CIC</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Continental Insurance Company</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">CIFG</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">CDC Ixis Financial Guaranty</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">CMAC</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Capital Markets Assurance Corporation</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">COP</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Certificate of Participation</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">CP</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Commercial Paper</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">EDR</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Economic Development Revenue</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">EIR</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Environmental Improvement Revenue</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">FGIC</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Financial Guaranty Insurance Company</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">FHA</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Federal Housing Administration</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">FHLB</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Federal Home Loan Bank</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">FHLMC</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Federal Home Loan Mortgage Corporation</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">FNMA</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Federal National Mortgage Association</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">FSA</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Financial Security Assurance</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">GAN</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Grant Anticipation Notes</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">GIC</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Guaranteed Investment Contract</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">GNMA</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Government National Mortgage Association</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">GO</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">General Obligation</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">HR</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Hospital Revenue</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">IDB</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Industrial Development Board</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">IDC</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Industrial Development Corporation</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">IDR</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Industrial Development Revenue</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">LOC</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Letter of Credit</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">LOR</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Limited Obligation Revenue</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">LR</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Lease Revenue</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">MFHR</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Multi-Family Housing Revenue</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">MFMR</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Multi-Family Mortgage Revenue</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">PCR</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Pollution Control Revenue</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">PILOT</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Payment in Lieu of Taxes</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">RAC</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Revenue Anticipation Certificates</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">RAN</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Revenue Anticipation Notes</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">RAW</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Revenue Anticipation Warrants</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">RRR</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Resources Recovery Revenue</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">SAAN</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">State Aid Anticipation Notes</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">SBPA</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Standby Bond Purchase Agreement</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">SFHR</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Single Family Housing Revenue</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">SFMR</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Single Family Mortgage Revenue</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">SONYMA</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">State of New York Mortgage Agency</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">SWDR</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Solid Waste Disposal Revenue</FONT>&nbsp;</TD>
</TR>
</TABLE><BR>

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<TABLE border=0 cellspacing=0>
<TR>
     <TD width=10%></TD>
     <TD width=44%></TD>
     <TD width=17%></TD>
     <TD width=28%></TD></TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">TAN</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Tax Anticipation Notes</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">TAW</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Tax Anticipation Warrants</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">TRAN</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Tax and Revenue Anticipation Notes</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">XLCA</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">XL Capital Assurance</FONT>&nbsp;</TD>
</TR>
</TABLE><BR>

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<A name="page_23"></A>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="100%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Various inputs are used in determining the value of the fund's investments relating to Financial Accounting Standard No. 157 (FAS 157),</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Fair Value Measurements.</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>These inputs are summarized in the three broad levels listed below.</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 1 </FONT></B><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>- quoted prices in active markets for identical investments.</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 2 </FONT></B><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>- other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds,</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>credit risk, etc.)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 3 </FONT></B><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>- significant unobservable inputs (including fund's own assumptions in determining the fair value of investments).</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>in those securities.</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>The following is a summary of the inputs used as of June 30, 2009 in valuing the fund's investments:</FONT>&nbsp;</TD></TR></TABLE><BR>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="30%"></TD>
     <TD width="14%"></TD>
     <TD width="24%"></TD>
     <TD width="17%"></TD>
     <TD width="12%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 3 -</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 1 -</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 2 - Other</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Significant</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Quoted</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Significant Observable</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Unobservable</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Assets ($)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Prices</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Inputs</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Inputs</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Total</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Investments in Securities:</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Municipal Bonds</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>742,732,878</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>742,732,878</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Other Financial Instruments+</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>-</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Liabilities ($)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Other Financial Instruments+</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>-</FONT></B>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>&#134; Other financial instruments include derivative instruments, such as futures, forward currency exchange contracts, swap contracts and options contracts. Amounts shown represents unrealized appreciation (depreciation), or in the case of options, market value at period end.</FONT></P>
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<P align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>The fund adopted Statement of Financial Accounting Standards No. 161 &#147;Disclosures about Derivative Instruments and Hedging Activities&#148; (&#147;FAS 161&#148;). FAS 161 requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments and disclosures about credit-risk-related contingent features in derivative agreements. Since the fund held no derivatives during the period, FAS 161 disclosures did not impact the notes to the financial statements.</FONT></P>
<P align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Portfolio valuation: Investments in municipal debt securities are valued on the last business day of each week and month by an independent pricing service (the &#147;Service&#148;). Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the market for such securities). Other investments (which constitute a majority of the portfolio securities) are carried at fair value as determined by the Service, based on methods which include consideration of: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. Options and financial futures on municipal and U.S.Treasury sec
urities are valued at the last sales price on the securities exchange on which such securities are primarily traded or at the last sales price on the national securities market on the last business day of each week and month.</FONT></P>
<P align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.</FONT></P>
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     <TD width="27%"></TD>
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     <TD noWrap align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>Item 2.</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>Controls and Procedures.</FONT></B>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(b) The Registrant has revised its internal control over financial reporting with respect to investments in certain inverse floater structures to account for such investments as secured borrowings and to report the related income and expense.</FONT></P>
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     <TD noWrap align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>Item 3.</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>Exhibits.</FONT></B>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.</FONT></P>
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     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>SIGNATURES</FONT></B></TD></TR></TABLE></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Dreyfus Strategic Municipals, Inc.</FONT></P>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>By:</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>/s/ J. David Officer</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>J. David Officer</FONT>&nbsp;</TD></TR>
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     <TD align=center colSpan=2><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>President&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD></TR>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Date:</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>August 12, 2009</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.</FONT></P>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>By:</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>/s/ J. David Officer</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>J. David Officer</FONT>&nbsp;</TD></TR>
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     <TD align=center colSpan=2><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>President&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD></TR>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Date:</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>August 12, 2009</FONT>&nbsp;</TD></TR></TABLE><BR>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>By:</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>/s/ James Windels</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>James Windels</FONT>&nbsp;</TD></TR>
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     <TD align=center colSpan=2><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Treasurer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD></TR>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Date:</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>August 12, 2009</FONT>&nbsp;</TD></TR></TABLE><BR>
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     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>EXHIBIT INDEX</FONT></B></TD></TR></TABLE></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT)</FONT></P>
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<DESCRIPTION>CERTIFICATION REQUIRED BY RULE 30A-2
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     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>SECTION 302 CERTIFICATION</FONT></B></TD></TR></TABLE></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>I, J. David Officer, certify that:</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1. I have reviewed this report on Form N-Q of Dreyfus Strategic Municipals, Inc.</FONT><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">;</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting;</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</FONT></P>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>By:</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>/s/ J. David Officer</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>J. David Officer</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>President</FONT></TD></TR>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Date:</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>August 12, 2009</FONT>&nbsp;</TD></TR></TABLE></DIV><BR>
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     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>SECTION 302 CERTIFICATION</FONT></B></TD></TR></TABLE></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>I, James Windels, certify that:</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1. I have reviewed this report on Form N-Q of Dreyfus Strategic Municipals, Inc.</FONT><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">;</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting;</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</FONT></P>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>By:</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>/s/ James Windels</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>James Windels</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Treasurer</FONT></TD></TR>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Date:</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>August 12, 2009</FONT>&nbsp;</TD></TR></TABLE></DIV><BR>
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