<SEC-DOCUMENT>0000818972-13-000016.txt : 20130823
<SEC-HEADER>0000818972-13-000016.hdr.sgml : 20130823
<ACCEPTANCE-DATETIME>20130823094954
ACCESSION NUMBER:		0000818972-13-000016
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20130630
FILED AS OF DATE:		20130823
DATE AS OF CHANGE:		20130823
EFFECTIVENESS DATE:		20130823

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:		131056756

	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>formnq-853.htm
<DESCRIPTION>FORM N-Q
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 24pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR>Washington, D.C.&nbsp; 20549</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">FORM N-Q</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT<BR>INVESTMENT COMPANY</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Investment Company Act file number</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Dreyfus Strategic Municipals, Inc.</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">(Exact name of Registrant as specified in charter)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">c/o The Dreyfus Corporation</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">200 Park Avenue</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">New York, New York 10166</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">(Address of principal executive offices) (Zip code)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">John Pak, Esq.</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">200 Park Avenue</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">New York, New York 10166</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">(Name and address of agent for service)</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Registrant's telephone number, including area code: </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">(212) 922-6000</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Date of fiscal year end:</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">9/30</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Date of reporting period:</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">6/30/2013</FONT></P></TD>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">FORM N-Q</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schedule of Investments.</FONT></B></P>

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   <TD style="TEXT-INDENT: 0.479pt" align=left><B><FONT size=3 face=Arial,Bold,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS</FONT></B>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0.119pt" align=left><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Dreyfus Strategic Municipals, Inc.</FONT></B>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0.119pt" align=left><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>June 30, 2013 (Unaudited)</FONT></B>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0.119pt" align=left><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Long-Term Municipal</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Coupon</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Principal</FONT></B></TD>

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   <TD style="BORDER-BOTTOM: #000000 3px double; TEXT-INDENT: 0.119pt" align=left><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Investments--154.5%</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Date</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Amount ($)</FONT></B></TD>

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   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Value ($)</FONT></B>&nbsp;</TD></TR>

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   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Alabama--1.2%</FONT></B>&nbsp;</TD>

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   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Jefferson County,</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Limited Obligation School</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Warrants</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,520,000</FONT></TD>

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   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,526,509</FONT>&nbsp;</TD></TR>

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   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Jefferson County,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Limited Obligation School</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Warrants</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/24</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,996,100</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Alaska--1.8%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Northern Tobacco Securitization</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corporation of Alaska, Tobacco</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Settlement Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/1/46</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12,190,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>9,515,758</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Arizona--6.0%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Apache County Industrial</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Development Authority, PCR</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Tucson Electric Power Company</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Project)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3/1/30</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,863,120</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Arizona Housing Finance Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>SFMR (Mortgage-Backed</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Securities Program)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Collateralized: FHLMC, FNMA</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>and GNMA)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.55</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/41</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,905,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,042,145</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Receipts (Series 21W) (Salt</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>River Project Agricultural</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Improvement and Power</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>District, Salt River Project</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Electric System Revenue)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>17,210,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>18,316,259</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Phoenix Civic Improvement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corporation, Senior Lien</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Airport Revenue</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,250,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,586,443</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Pima County Industrial Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Education Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(American Charter Schools</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Foundation Project)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.63</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,410,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,013,110</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Salt Verde Financial Corporation,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Senior Gas Revenue</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/37</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>495,545</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>California--17.8%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Alameda Corridor Transportation</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Senior Lien Revenue</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10/1/20</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,730,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,020,380</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Receipts (Series 80W) (Los</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Angeles Department of</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Airports, Senior Revenue (Los</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Angeles International Airport))</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5/15/31</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,247,500</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,630,671</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>California,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4/1/31</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,800,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11,920,392</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="35%"></TD>

   <TD width="10%"></TD>

   <TD width="12%"></TD>

   <TD width="23%"></TD>

   <TD width="2%"></TD>

   <TD width="14%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>California,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4/1/33</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11,995,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>California,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8,747,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>California State Public Works</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Board, LR (The Regents of the</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>University of California)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Various University of</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>California Projects)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,495,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,744,403</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>California Statewide Communities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Development Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Bentley School)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,090,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,276,950</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>California Statewide Communities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Development Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Bentley School)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>0.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>645,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>c</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>29,670</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>California Statewide Communities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Development Authority, Student</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Housing Revenue (CHF-Irvine,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>LLC-UCI East Campus</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Apartments, Phase II)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5/15/32</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,074,640</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Golden State Tobacco</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Securitization Corporation,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/1/27</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,755,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,650,858</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Trust (Series 3851)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(California Educational</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Facilities Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(University of Southern</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>California))</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10/1/16</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,100,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11,126,059</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Los Angeles Department of Water</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>and Power, Water System Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/43</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,247,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Sacramento County,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Airport System Subordinate and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Passenger Facility Charges</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Grant Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,250,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7,066,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>San Buenaventura,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Community Memorial</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Health System)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/41</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,284,820</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>San Diego Public Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Financing Authority, Senior</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Sewer Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5/15/34</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,785,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>San Francisco City and County</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Redevelopment Agency Community</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Facilities District Number 6,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Special Tax Revenue (Mission</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Bay South Public Improvements)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8/1/23</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,045,280</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Sonoma-Marin Area Rail Transit</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>District, Measure Q Sales Tax</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3/1/27</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,376,440</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Tobacco Securitization Authority</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>of Southern California,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="35%"></TD>

   <TD width="11%"></TD>

   <TD width="13%"></TD>

   <TD width="22%"></TD>

   <TD width="2%"></TD>

   <TD width="14%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Asset-Backed Bonds (San Diego</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>County Tobacco Asset</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Securitization Corporation)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/1/37</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7,300,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,056,518</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Tuolumne Wind Project Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Tuolumne Company</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.88</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/29</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,994,060</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Colorado--3.1%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Beacon Point Metropolitan</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>District, GO</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,932,140</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Colorado Educational and Cultural</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Facilities Authority, Charter</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>School Revenue (American</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Academy Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,023,425</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Colorado Health Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Revenue (Catholic</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Health Initiatives)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2/1/41</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,098,220</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Colorado Housing and Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Single Family</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Program Senior and Subordinate</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Bonds (Collateralized; FHA)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.60</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>660,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>692,980</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Southlands Metropolitan District</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Number 1, GO (Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7.13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/14</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>d</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,193,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>The Plaza Metropolitan District</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Number 1, Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,170,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,254,427</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Delaware--.9%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Delaware Economic Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Exempt Facility</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Indian River Power</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>LLC Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10/1/45</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,905,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Florida--8.5%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Citizens Property Insurance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corporation, Personal Lines</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Account/Commercial Lines</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Account Senior Secured Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/1/22</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,465,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,133,533</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Clearwater,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Water and Sewer Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,333,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Florida Board of Education,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Public Education Capital</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Outlay Bonds</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,439,440</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Greater Orlando Aviation</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Airport Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10/1/20</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>9,595,440</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Martin County Industrial</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Development Authority, IDR</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Indiantown Cogeneration, L.P.</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4.20</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/15/25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,352,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Miami-Dade County,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Subordinate Special Obligation</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,615,010</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Mid-Bay Bridge Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Springing Lien Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7,154,460</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="36%"></TD>

   <TD width="11%"></TD>

   <TD width="13%"></TD>

   <TD width="22%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Saint Johns County Industrial</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Development Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Presbyterian Retirement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Communities Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8/1/45</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,500,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,877,780</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Georgia--5.7%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Atlanta,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Airport General Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/26</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,294,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Atlanta,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Water and Wastewater Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/27</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7,002,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Atlanta,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Water and Wastewater Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,229,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Brooks County Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Senior Health and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Housing Facilities Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Presbyterian Home, Quitman,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Inc.) (Collateralized; GNMA)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.70</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/20/39</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,445,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,568,971</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Fulton County Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Revenue (Georgia</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Tech North Avenue Apartments</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Project) (Insured; XLCA)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,300,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,444,969</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Georgia Higher Education</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Facilities Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(USG Real Estate Foundation I,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>LLC Project) (Insured; Assured</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.63</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/15/38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,594,360</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Hawaii--.9%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Hawaii Department of Budget and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Finance, Special Purpose</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Hawai'i Pacific</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Health Obligated Group)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,415,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,676,898</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Idaho--1.0%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Power County Industrial</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Development Corporation, SWDR</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(FMC Corporation Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.45</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,005,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Illinois--5.6%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Chicago,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>General Airport Third Lien</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Chicago O'Hare</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>International Airport)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.63</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,401,300</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Chicago,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Sales Tax Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,500,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,745,105</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Greater Chicago Metropolitan Water</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Reclamation District, GO</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Capital Improvement Limited</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Tax Bonds</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7,500,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8,087,325</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Illinois,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>GO</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4/1/23</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,473,040</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Railsplitter Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/1/28</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,050,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,621,206</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="35%"></TD>

   <TD width="11%"></TD>

   <TD width="12%"></TD>

   <TD width="22%"></TD>

   <TD width="2%"></TD>

   <TD width="14%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Indiana--2.5%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Indiana Finance Authority,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Educational Facilities Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Butler University Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,110,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,097,277</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Indiana Finance Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Midwestern Disaster Relief</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Ohio Valley Electric</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corporation Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,823,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Indiana Finance Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Marquette Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,400,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,380,974</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Indianapolis Local Public</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Improvement Bond Bank, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Indianapolis Airport</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority Project) (Insured;</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>AMBAC)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/36</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,583,295</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Iowa--1.3%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Iowa Finance Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Midwestern Disaster Area</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Iowa Fertilizer</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Company Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,910,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Tobacco Settlement Authority of</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Iowa, Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.60</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,806,140</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Kansas--.2%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Sedgwick and Shawnee Counties,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>SFMR (Mortgage-Backed</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Securities Program)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Collateralized: FNMA and GNMA)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.70</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,025,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,062,710</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Kentucky--.5%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Louisville/Jefferson County Metro</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Government, Health Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Jewish Hospital and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Saint Mary's HealthCare, Inc.</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Project) (Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,300,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>d</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,786,266</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Louisiana--1.7%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Lakeshore Villages Master</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Community Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>District, Special Assessment</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,979,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>e</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,176,765</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Louisiana Local Government</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Environmental Facilities and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Community Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Revenue (Westlake</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Chemical Corporation Projects)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.75</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7,504,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Maine--.7%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Maine Health and Higher</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Educational Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(MaineGeneral Medical Center</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Issue)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,576,210</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Massachusetts--9.8%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="34%"></TD>

   <TD width="11%"></TD>

   <TD width="12%"></TD>

   <TD width="22%"></TD>

   <TD width="2%"></TD>

   <TD width="14%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Receipts (Series 15W)</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Massachusetts Health and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Educational Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Massachusetts Institute of</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Technology Issue))</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>13,110,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>14,311,007</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Trust (Series 3840)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Massachusetts Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Finance Agency, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Harvard University Issue))</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,000,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11,094,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Trust (Series 3898)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Massachusetts, Consolidated</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Loan)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8,600,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>9,546,516</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Massachusetts Development Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Agency, Revenue (Partners</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>HealthCare System Issue)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/36</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,224,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Massachusetts Educational</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Financing Authority, Education</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Loan Revenue (Issue K)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/29</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,999,950</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Massachusetts Health and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Educational Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Revenue (Suffolk</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>University Issue)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/30</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,650,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,064,089</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Michigan--8.3%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Charyl Stockwell Academy,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>COP</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.90</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,580,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,177,701</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Detroit,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Sewage Disposal System Senior</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Lien Revenue (Insured; Assured</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/27</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,733,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Detroit,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Sewage Disposal System Senior</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Lien Revenue (Insured; Assured</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/33</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,700,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,347,349</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Detroit,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Water Supply System Senior</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Lien Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/31</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,937,240</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Detroit Water and Sewerage</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Department, Senior Lien Sewage</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Disposal System Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,944,720</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Kent Hospital Finance Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Metropolitan Hospital</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,930,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,037,121</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Michigan Hospital Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, HR (Henry Ford</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Health System)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.63</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/15/29</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,273,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Michigan Strategic Fund,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>SWDR (Genesee Power Station</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/21</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>9,600,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>9,180,672</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Royal Oak Hospital Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="35%"></TD>

   <TD width="11%"></TD>

   <TD width="13%"></TD>

   <TD width="22%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, HR (William</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Beaumont Hospital Obligated</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Group)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>9/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,500,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,730,295</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Wayne County Airport Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Airport Revenue (Detroit</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Metropolitan Wayne County</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Airport) (Insured; National</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Public Finance Guarantee Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,435,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,439,122</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Minnesota--2.0%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Dakota County Community</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Development Agency, SFMR</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Mortgage-Backed Securities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Program) (Collateralized:</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>FHLMC, FNMA and GNMA)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.15</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>463,076</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>477,871</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Dakota County Community</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Development Agency, SFMR</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Mortgage-Backed Securities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Program) (Collateralized:</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>FHLMC, FNMA and GNMA)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.30</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>640,069</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>666,408</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Minneapolis</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Health Care System Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Fairview Health Services)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/15/38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,829,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Saint Paul Housing and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Redevelopment Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Hospital Facility Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(HealthEast Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.15</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/15/20</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,310,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,507,276</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Mississippi--2.9%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Mississippi Business Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corporation, PCR (System</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Energy Resources, Inc. Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.88</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4/1/22</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>9,310,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>9,332,530</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Mississippi Development Bank,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Special Obligation Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Magnolia Regional Health</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Center Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10/1/31</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,659,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Missouri--.4%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Missouri Development Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Board, Infrastructure</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Facilities Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Independence, Crackerneck</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Creek Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3/1/28</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,004,820</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Nevada--1.0%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Clark County,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Passenger Facility Charge</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Las Vegas-McCarran</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>International Airport)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/30</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,304,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>New Jersey--4.2%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New Jersey Economic Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Cigarette Tax</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/15/28</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,625,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,648,416</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New Jersey Economic Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="34%"></TD>

   <TD width="11%" align=right></TD>

   <TD width="12%" align=right></TD>

   <TD width="23%"></TD>

   <TD width="2%"></TD>

   <TD width="14%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Cigarette Tax</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/15/14</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,000,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>d</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,158,910</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New Jersey Economic Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Special Facility</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Continental Airlines,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Inc. Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>9/15/23</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,912,730</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New Jersey Economic Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Special Facility</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Continental Airlines,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Inc. Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>9/15/29</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,885,220</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New Jersey Higher Education</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Student Assistance Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Senior Student Loan Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,769,325</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New Jersey Higher Education</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Student Assistance Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Student Loan Revenue (Insured;</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Assured Guaranty Municipal</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/1/30</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,294,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Tobacco Settlement Financing</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corporation of New Jersey,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/1/41</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,413,365</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>New Mexico--1.5%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Farmington,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>PCR (Public Service Company of</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New Mexico San Juan Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.90</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7,335,440</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New Mexico Mortgage Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Single Family</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Mortgage Program Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Collateralized: FHLMC, FNMA</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>and GNMA)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.15</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>515,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>546,657</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>New York--14.2%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Receipts (Series 7B) (New York</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>City Transitional Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Future Tax Secured</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Subordinate Revenue)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/27</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,799,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Receipts (Series 29W) (New</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>York City Municipal Water</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Finance Authority, Water and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Sewer System General</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Resolution Revenue)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/15/39</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>20,000,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>20,954,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Trust (Series 3857) (New York</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>City Transitional Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Future Tax Secured</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Subordinate Revenue)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,787,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Metropolitan Transportation</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Transportation</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/28</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,699,225</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New York City,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="34%"></TD>

   <TD width="12%" align=right></TD>

   <TD width="12%" align=right></TD>

   <TD width="22%"></TD>

   <TD width="2%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>GO</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,140,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,485,902</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New York City Educational</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Construction Fund, Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4/1/27</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,490,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,491,584</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New York City Industrial</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Development Agency, PILOT</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Yankee Stadium</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Project) (Insured; Assured</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3/1/49</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,924,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New York City Transitional Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Future Tax Secured</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Subordinate Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,644,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New York State Dormitory</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Revenue (Orange</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Regional Medical Center</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Obligated Group)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/29</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,625,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,036,638</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New York State Dormitory</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Revenue (Orange</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Regional Medical Center</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Obligated Group)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/37</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,662,025</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Niagara Area Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corporation, Solid Waste</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Disposal Facility Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Covanta Energy Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/42</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,760,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Port Authority of New York and New</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Jersey, Special Project Bonds</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(JFK International Air</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Terminal LLC Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/36</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,241,060</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Ohio--4.3%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Butler County,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Hospital Facilities Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(UC Health)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,850,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,941,861</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Canal Winchester Local School</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>District, School Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Construction and Improvement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>and Advance Refunding Bonds</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(GO - Unlimited Tax) (Insured;</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>National Public Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Guarantee Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>0.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/29</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,955,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>c</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,925,729</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Canal Winchester Local School</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>District, School Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Construction and Improvement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>and Advance Refunding Bonds</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(GO - Unlimited Tax) (Insured;</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>National Public Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Guarantee Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>0.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/31</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,955,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>c</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,742,019</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Muskingum County,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Hospital Facilities Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Genesis HealthCare System</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Obligated Group Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2/15/22</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,590,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,742,434</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Ohio Air Quality Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Air Quality Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Ohio Valley Electric</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<TR>

   <TD width="35%"></TD>

   <TD width="11%" align=right></TD>

   <TD width="12%" align=right></TD>

   <TD width="23%"></TD>

   <TD width="2%"></TD>

   <TD width="14%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corporation Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.63</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,900,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,163,378</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Port of Greater Cincinnati</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Development Authority, Tax</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Increment Development Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Fairfax Village Red Bank</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Infrastructure Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.63</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2/1/36</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,000,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,353,980</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Toledo-Lucas County Port</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Airport Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Baxter Global Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>900,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>899,136</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Toledo-Lucas County Port</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Special Assessment</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Crocker Park Public</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Improvement Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,039,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Oregon--.7%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Warm Springs Reservation</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Confederated Tribes,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Hydroelectric Revenue (Pelton</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Round Butte Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/33</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,300,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,658,941</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Pennsylvania--2.2%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Commonwealth Financing Authority</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>of Pennsylvania, Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/1/25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,150,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,288,805</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Trust) (Series 3916)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Geisinger Authority, Health</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>System Revenue (Geisinger</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Health System))</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,000,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,107,520</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Pennsylvania Economic Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Financing Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Unemployment Compensation</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,560,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,991,488</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Philadelphia,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>GO</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8/1/41</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,550,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,997,442</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Rhode Island--1.1%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Rhode Island Health and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Educational Building</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corporation, Hospital</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Financing Revenue (Lifespan</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Obligated Group Issue)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5/15/39</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,620,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>South Carolina--4.1%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Receipts (Series 42W)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Columbia, Waterworks and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Sewer System Revenue)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,000,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,741,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>South Carolina Public Service</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Revenue Obligations</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11,018,300</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Tennessee--3.4%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Receipts (Series 25W)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Rutherford County Health and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Educational Facilities Board,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

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   <TD width="22%"></TD>

   <TD width="2%"></TD>

   <TD width="14%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Ascension Health</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Senior Credit Group))</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/15/40</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,000,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,263,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Metropolitan Government of</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Nashville and Davidson County</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Health and Educational</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Facilities Board, Revenue (The</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Vanderbilt University)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7,809,480</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Texas--15.0%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Receipts (Series 28W) (Leander</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Independent School District,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Unlimited Tax School Building</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Bonds (Permanent School Fund</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Guarantee Program))</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8/15/40</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8,510,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>9,072,851</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Clifton Higher Education Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corporation, Education Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Uplift Education)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/30</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,698,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Dallas and Fort Worth,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Joint Improvement Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Dallas/Fort Worth</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>International Airport)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/42</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,467,835</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Dallas Area Rapid Transit,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Senior Lien Sales Tax Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/48</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,689,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Gulf Coast Industrial Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, SWDR (CITGO</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Petroleum Corporation Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4.88</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5/1/25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>986,230</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Harris County Health Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Development Corporation, HR</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Memorial Hermann Healthcare</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>System) (Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>d</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,590,820</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Houston,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Airport System Special</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Facilities Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Continental Airlines, Inc.</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Terminal Improvements Projects)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,750,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,749,878</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Houston,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Combined Utility System First</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Lien Revenue (Insured; Assured</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/15/36</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,802,950</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Trust (Series 4356) (San</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Antonio, Electric and Gas</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Systems Junior Lien Revenue)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2/1/21</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11,500,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12,033,945</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Lower Colorado River Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Transmission Contract Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Lower Colorado River</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority Transmission</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Services Corporation Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5/15/31</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,333,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>North Texas Tollway Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>First Tier System Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corporation)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,300,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11,412,709</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="34%"></TD>

   <TD width="11%" align=right></TD>

   <TD width="12%" align=right></TD>

   <TD width="23%"></TD>

   <TD width="2%"></TD>

   <TD width="14%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>North Texas Tollway Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Second Tier System Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,955,455</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Pasadena Independent School</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>District, Unlimited Tax School</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Building Bonds (Permanent</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>School Fund Guarantee Program)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2/15/31</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,175,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,474,974</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Texas A&amp;M University System Board</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>of Regents, Financing System</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,110,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,467,930</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Texas Department of Housing and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Community Affairs, Home</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Mortgage Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Collateralized: FHLMC, FNMA</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>and GNMA)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>13.43</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/2/24</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>400,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>f</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>425,832</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Utah--.7%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Intermountain Power Agency,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Subordinated Power Supply</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,488,340</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Vermont--.4%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Burlington,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Airport Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,130,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,075,983</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Virginia--3.3%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Receipts (Series 17W)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Virginia Small Business</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Financing Authority, Health</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Care Facilities Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Sentara Healthcare))</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,000,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,267,300</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Chesterfield County Economic</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Development Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Retirement Facilities First</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Mortgage Revenue (Brandermill</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Woods Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/43</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,258,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Virginia Commonwealth</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Transportation Board,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Transportation Capital</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Projects Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5/15/22</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,840,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,588,646</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Washington--4.8%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Receipts (Series 27B) (King</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>County, Sewer Revenue)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/29</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,998,716</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,361,396</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Receipts (Series 66W) (King</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>County, Limited Tax GO</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Payable from Sewer Revenues))</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/33</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,000,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10,972,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Washington Health Care Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Mortgage Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Highline Medical Center)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Collateralized; FHA)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8/1/36</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,975,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6,829,843</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Washington Higher Education</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Facilities Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Seattle University Project)</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="36%"></TD>

   <TD width="11%" align=right></TD>

   <TD width="13%" align=right></TD>

   <TD width="22%" align=right></TD>

   <TD width="15%" align=right></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Insured; AMBAC)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11/1/37</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,191,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>West Virginia--.4%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

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   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>The County Commission of Harrison</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>County, SWDR (Allegheny Energy</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Supply Company, LLC Harrison</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Station Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>10/15/37</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,032,680</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Wisconsin--1.1%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Public Finance Agency,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Senior Airport Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue (Transportation</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Infrastructure Properties, LLC</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Obligated Group)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/42</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,794,880</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Wisconsin Health and Educational</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Facilities Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Aurora Health Care, Inc.)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.40</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4/15/33</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,003,040</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Wyoming--1.1%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Wyoming Municipal Power Agency,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Power Supply System Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/33</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,360,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,581,014</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Wyoming Municipal Power Agency,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Power Supply System Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1/1/42</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,750,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,966,425</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>U.S. Related--8.2%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Guam,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>LOR (Section 30)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>12/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,109,540</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Guam Housing Corporation,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>SFMR (Guaranteed</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Mortgage-Backed Securities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Program) (Collateralized;</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>FHLMC)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>9/1/31</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>965,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,027,069</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Guam Waterworks Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Water and Wastewater System</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.63</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,034,120</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Puerto Rico Aqueduct and Sewer</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Senior Lien Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/37</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4,660,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>3,976,658</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Puerto Rico Commonwealth,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Public Improvement GO</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,881,020</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Puerto Rico Commonwealth,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Public Improvement GO</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,610,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,595,349</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Puerto Rico Commonwealth,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Public Improvement GO</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,390,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,454,411</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Puerto Rico Electric Power</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Power Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/20</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,785,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,850,563</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Puerto Rico Electric Power</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Power Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,500,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,297,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Puerto Rico Electric Power</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Power Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/42</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,840,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,150,705</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Puerto Rico Sales Tax Financing</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corporation, Sales Tax Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(First Subordinate Series)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5,007,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Puerto Rico Sales Tax Financing</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corporation, Sales Tax Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(First Subordinate Series)</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>5.38</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,500,000</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>2,500,550</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Puerto Rico Sales Tax Financing</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="35%"></TD>

   <TD width="9%"></TD>

   <TD width="12%"></TD>

   <TD width="21%"></TD>

   <TD width="2%"></TD>

   <TD width="15%"></TD>

   <TD width="2%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Corporation, Sales Tax Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(First Subordinate Series)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>8/1/42</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>11,442,200</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Total Long-Term Municipal Investments</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(cost $774,947,153)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>811,365,084</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.119pt" align=left><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Short-Term Municipal</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Coupon</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Principal</FONT></B></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 3px double; TEXT-INDENT: 0.119pt" align=left><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Investments--.4%</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Date</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Amount ($)</FONT></B></TD>

   <TD align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><B><FONT size=2 face=Arial,Bold,Arial,Helvetica,sans-serif>Value ($)</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Connecticut--.2%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Connecticut Health and Educational</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Facilities Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Yale University Issue)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>0.04</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,000,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>g</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>1,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Massachusetts--.1%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Massachusetts Health and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Educational Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Revenue (Baystate</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Medical Center Issue) (LOC;</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Wells Fargo Bank)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>0.03</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>200,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>g</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>200,000</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Massachusetts Health and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Educational Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Authority, Revenue (Wellesley</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>College Issue)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>0.05</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>200,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>g</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>200,000</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>New York--.1%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>New York City,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>GO Notes (LOC; JPMorgan Chase</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Bank)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>0.08</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>600,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>g</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>600,000</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Pennsylvania--.0%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Geisinger Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Health System Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Geisinger Health System)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(Liquidity Facility; JPMorgan</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Chase Bank)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>0.04</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7/1/13</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>200,000</FONT></TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>g</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>200,000</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Total Short-Term Municipal Investments</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 22.08pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(cost $2,200,000)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>2,200,000</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Total Investments </FONT></B><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>(cost $777,147,153)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>154.9</FONT></B></TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>%</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>813,565,084</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Liabilities, Less Cash and Receivables</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>(14.2</FONT></B></TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>%)</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>(74,611,593</FONT></B></TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Preferred Stock, at redemption value</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>(40.7</FONT></B></TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>%)</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>(213,750,000</FONT></B></TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>Net Assets Applicable to Common Shareholders</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>100.0</FONT></B></TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>%</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>525,203,491</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD vAlign=top width="2%" noWrap><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>a</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Collateral for floating rate borrowings.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>b</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Securities exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2013, these securities were valued at $175,739,454 or 33.5% of net assets applicable to Common Shareholders.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>c</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Security issued with a zero coupon. Income is recognized through the accretion of discount.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>d</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>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></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>e</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Non-income producing--security in default.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>f</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Inverse floater security--the interest rate is subject to change periodically. Rate shown is the interest rate in effect at June 30, 2013.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>g</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Variable rate demand note - rate shown is the interest rate in effect at June 30, 2013. Maturity date represents the next demand date, or the ultimate maturity date if earlier.</FONT></P></TD></TR></TABLE></DIV>

<HR align=center SIZE=2 width="100%" noShade>



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<P style="TEXT-ALIGN: left"><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>At June 30, 2013, net unrealized appreciation on investments was $36,417,931 of which $46,424,952 related to appreciated investment securities and $10,007,021 related to depreciated investment securities. At June 30, 2013, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes.</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 792px; HEIGHT: 680px" border=0 cellSpacing=0>



<TR>

   <TD width="10%"></TD>

   <TD width="41%"></TD>

   <TD width="11%"></TD>

   <TD width="36%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 3px double; TEXT-INDENT: 0.119pt" colSpan=2 align=left><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Summary of Abbreviations</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>ABAG</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Association of Bay Area Governments</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>ACA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>American Capital Access</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>AGC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>ACE Guaranty Corporation</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>AGIC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Asset Guaranty Insurance Company</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>AMBAC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>American Municipal Bond Assurance Corporation</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>ARRN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Adjustable Rate Receipt Notes</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>BAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Bond Anticipation Notes</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>BPA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Bond Purchase Agreement</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>CIFG</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>CDC Ixis Financial Guaranty</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>COP</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Certificate of Participation</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>CP</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Commercial Paper</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>DRIVERS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Derivative Inverse Tax-Exempt Receipts</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>EDR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Economic Development Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>EIR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Environmental Improvement Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>FGIC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Financial Guaranty Insurance Company</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>FHA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Federal Housing Administration</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>FHLB</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Federal Home Loan Bank</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>FHLMC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Federal Home Loan Mortgage Corporation</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>FNMA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Federal National Mortgage Association</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>GAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Grant Anticipation Notes</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>GIC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Guaranteed Investment Contract</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>GNMA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Government National Mortgage Association</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>GO</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>General Obligation</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>HR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Hospital Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>IDB</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Industrial Development Board</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>IDC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Industrial Development Corporation</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>IDR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Industrial Development Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>LIFERS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Long Inverse Floating Exempt Receipts</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>LOC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Letter of Credit</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>LOR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Limited Obligation Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>LR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Lease Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>MERLOTS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Municipal Exempt Receipts Liquidity Option</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>MFHR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Multi-Family Housing Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>MFMR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Multi-Family Mortgage Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>PCR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Pollution Control Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>P-FLOATS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Puttable Floating Option Tax-Exempts Receipts</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>PILOT</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Payment in Lieu of Taxes</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>PUTTERS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Puttable Tax-Exempt Receipts</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>RAC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue Anticipation Certificates</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>RAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue Anticipation Notes</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>RAW</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Revenue Anticipation Warrants</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>ROCS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Reset Option Certificates</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>RRR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Resources Recovery Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>SAAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>State Aid Anticipation Notes</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>SBPA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Standby Bond Purchase Agreement</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>SFHR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Single Family Housing Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>SFMR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Single Family Mortgage Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>SONYMA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>State of New York Mortgage Agency</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>SPEARS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Short Puttable Exempt Adjustable Receipts</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>SWDR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Solid Waste Disposal Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>TAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Tax Anticipation Notes</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>TAW</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Tax Anticipation Warrants</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>TRAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Tax and Revenue Anticipation Notes</FONT>&nbsp;</TD>

   <TD align=left><B><FONT size=1 face=Arial,Bold,Arial,Helvetica,sans-serif>XLCA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>XL Capital Assurance</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>The following is a summary of the inputs used as of June 30, 2013 in valuing the fund's investments:</FONT></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="28%"></TD>

   <TD width="25%"></TD>

   <TD width="18%"></TD>

   <TD width="15%"></TD>

   <TD width="12%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right><B><FONT size=3 face=Arial,Bold,Arial,Helvetica,sans-serif>Level 3 -</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT size=3 face=Arial,Bold,Arial,Helvetica,sans-serif>Level 1 -</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT size=3 face=Arial,Bold,Arial,Helvetica,sans-serif>Level 2 - Other</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT size=3 face=Arial,Bold,Arial,Helvetica,sans-serif>Significant</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT size=3 face=Arial,Bold,Arial,Helvetica,sans-serif>Unadjusted Quoted</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT size=3 face=Arial,Bold,Arial,Helvetica,sans-serif>Significant</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT size=3 face=Arial,Bold,Arial,Helvetica,sans-serif>Unobservable</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=left><B><FONT size=3 face=Arial,Bold,Arial,Helvetica,sans-serif>Assets ($)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><B><FONT size=3 face=Arial,Bold,Arial,Helvetica,sans-serif>Prices</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><B><FONT size=3 face=Arial,Bold,Arial,Helvetica,sans-serif>Observable Inputs</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><B><FONT size=3 face=Arial,Bold,Arial,Helvetica,sans-serif>Inputs</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double; TEXT-INDENT: 42.5pt" align=right><B><FONT size=3 face=Arial,Bold,Arial,Helvetica,sans-serif>Total</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>Investments in Securities:</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>Municipal Bonds</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>813,565,084</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=left><B><FONT size=3 face=Arial,Bold,Arial,Helvetica,sans-serif>813,565,084</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>The Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) is the exclusive reference of authoritative U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) </FONT><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange </FONT><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Commission (&#8220;SEC&#8221;) under authority of federal laws are also sources </FONT><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>of authoritative GAAP for SEC registrants. The fund's financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Portfolio valuation: The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Various inputs are used in determining the value of the fund&#8217;s investments </FONT><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>relating to fair value measurements. These inputs are summarized in the three broad levels listed below:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Level 1&#8212;unadjusted quoted prices in active markets for </FONT><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>identical investments.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Level 2&#8212;other significant observable inputs (including quoted </FONT><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Level 3&#8212;significant unobservable inputs (including the fund&#8217;s own </FONT><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>assumptions in determining the fair value of investments).</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques </FONT><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>used to value the fund&#8217;s investments are as follows:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Investments in securities are valued each business day by an independent </FONT><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>pricing service (the &#8220;Service&#8221;) approved by the Board of</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Directors. 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 the following: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. All preceding securities are categorized as Level 2 in the hierarchy.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>When market quotations or official closing prices are not readily available, <FONT size=2 face=Arial,Arial,Helvetica,sans-serif>or are determined not to reflect accurately fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded (for example, a foreign exchange or market), but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance with the procedures approved by the Board of Directors. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized as Level 2 or 3 depending on the relevant inputs used.</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>For restricted securities where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>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></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Controls and Procedures.</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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 style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.&nbsp; </FONT></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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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</DIV>
<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">FORM N-Q</font></b></p>

<p style="margin-bottom:24.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SIGNATURES<br>
<br>
</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">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 style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Dreyfus Strategic
Municipals, Inc.</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:500.399994pt;">
 <tr style="page-break-inside:avoid;">
  <td colspan=2 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">By:       </font><u><font face="Times New Roman" style="font-size:11.0pt;">/s/ Bradley J.
  Skapyak</font></u></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=2 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">            Bradley J.
  Skapyak</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">            President</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=10% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Date:</font></p>
  </td>
 <td valign=top width=90% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">August 20, 2013</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=2 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=2 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:11.0pt;">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>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=2 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=2 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">By:       </font><u><font face="Times New Roman" style="font-size:11.0pt;">/s/ Bradley J.
  Skapyak</font></u></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=2 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">            Bradley J.
  Skapyak</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">            President</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=10% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Date:</font></p>
  </td>
 <td valign=top width=90% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">August 20, 2013</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=2 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=2 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">By:       </font><u><font face="Times New Roman" style="font-size:11.0pt;">/s/ James
  Windels</font></u></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=2 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">            James Windels</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">            Treasurer</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=10% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Date:</font></p>
  </td>
 <td valign=top width=90% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">August 20, 2013</font></p>
  </td>
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  <td colspan=2 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">EXHIBIT INDEX</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Certifications of principal executive and principal
financial officers as required by Rule 30a-2(a) under the Investment Company
Act of 1940.&#160; (EX-99.CERT)</font></p>



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<DESCRIPTION>CERTIFICATION
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION
302 CERTIFICATION</font></b></p>

<p style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">I, Bradley
J. Skapyak, certify that:</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">1.&#160; I have reviewed this report
on Form N-Q of Dreyfus Strategic Municipals, Inc;</font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">2.&#160;
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 style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">3.&#160;
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 style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">4.&#160; 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 style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(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 style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(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 style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(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 style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(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 style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">5.&#160; 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 style="margin-left:.25in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(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 style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(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>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border:none;border-collapse:collapse;margin-left:191.4pt;width:298.199982pt;">
 <tr>
  <td valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">By:       </font><u><font face="Times New Roman" style="font-size:11.0pt;">/s/ Bradley J. Skapyak</font></u></p>
  </td>
 </tr>
<tr>
  <td valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">            Bradley J. Skapyak</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">            President</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Date:    August 20, 2013</font></p>
  </td>
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</table></div>


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<p align=center style="margin-left:0in;margin-right:0in;text-align:center;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">SECTION 302
CERTIFICATION</font></b></p>

<p style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">I,
James Windels, certify that:</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">1.&#160; I have reviewed this report
on Form N-Q of Dreyfus Strategic Municipals, Inc;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.&#160; 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 style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">3.&#160;
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 style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">4.&#160; 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 style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(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 style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(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 style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(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 style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(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 style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">5.&#160; 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 style="margin-left:.25in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(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 style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(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>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border:none;border-collapse:collapse;margin-left:191.4pt;width:298.199982pt;">
 <tr>
  <td valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">By:       </font><u><font face="Times New Roman" style="font-size:11.0pt;">/s/ James
  Windels</font></u></p>
  </td>
 </tr>
<tr>
  <td valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">            James Windels</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">            Treasurer</font></p>
  </td>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Date:    August 20, 2013</font></p>
  </td>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>



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