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<SEC-DOCUMENT>0000088053-06-001344.txt : 20061030
<SEC-HEADER>0000088053-06-001344.hdr.sgml : 20061030
<ACCEPTANCE-DATETIME>20061030112905
ACCESSION NUMBER:		0000088053-06-001344
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060831
FILED AS OF DATE:		20061030
DATE AS OF CHANGE:		20061030
EFFECTIVENESS DATE:		20061030

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DWS MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0000839533
		IRS NUMBER:				363605060
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05655
		FILM NUMBER:		061170947

	BUSINESS ADDRESS:	
		STREET 1:		222 SOUTH RIVERSIDE PLAZA
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3125371569

	MAIL ADDRESS:	
		STREET 1:		222 SOUTH RIVERSIDE PLAZA
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	20010123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEMPER MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>nq083106mit.htm
<DESCRIPTION>N-Q FILING
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font COLOR="#4F4F4F"><font SIZE=2>UNITED STATES</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font COLOR="#4F4F4F"><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font color="#4F4F4F"><font size=2>Washington, DC 20549</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font color="#4F4F4F"><font size=2>&nbsp;</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font COLOR="#4F4F4F"><B><font SIZE=2>FORM N-Q</font></B></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font COLOR="#4F4F4F"><B><font SIZE=2>QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED</font></B></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font COLOR="#4F4F4F"><B><font SIZE=2>MANAGEMENT INVESTMENT COMPANY</font></B></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font color="#4F4F4F"><b><font size=2>_______________________________ </font></b></font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font color="#4F4F4F"><font size=2>Investment Company Act file number  811-05655</font></font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><u><font size=2>DWS Municipal Income Trust</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font color="#4F4F4F"><font size=2>(Exact name of registrant as specified in charter)</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font size=2>222 South Riverside Plaza</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><font size=2>Chicago, IL  60606</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font color="#4F4F4F"><font size=2>(Address of principal executive offices) (Zip code)</font></font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font color="#4F4F4F"><font size=2>Paul Schubert</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font color="#4F4F4F"><font size=2>345 Park Avenue</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font color="#4F4F4F"><font size=2>New York, NY  10154</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font color="#4F4F4F"><font size=2>(Name and address of agent for service)</font></font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font color="#4F4F4F"><font size=2>Registrant's telephone number, including area code:  </font></font><u><font size=2>(212) 454-7190</font></u></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font color="#4F4F4F"><font size=2>Date of fiscal year end:  </font><u><font size=2>11/30</font></u></font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font color="#4F4F4F"><font size=2>Date of reporting period:</font><u><font size=2> 08/31/06</font></u></font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font color="#4F4F4F"><font size=2>Form N-Q is to be used by registered management investment companies, other than small business investment companies registered on Form N-5 (&sect;&sect; 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.</font></font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font color="#4F4F4F"><font size=2>A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450&nbsp;Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. &sect; 3507.</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<div style='width:600;'>



<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font SIZE=2>ITEM 1.  SCHEDULE OF INVESTMENTS</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<div style='width:600;'>




<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse; '>
    <tr >
        <td width="399" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=5>Investment Portfolio</font></p> </td>
        <td width="197" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>as of August 31, 2006  (Unaudited)  </font></b></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;border-top:solid 0.5pt;padding-top:1;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>DWS Municipal Income Trust</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt'><b><font size=1>Principal</font></b></p>
<p style='margin-left:0pt;text-indent:15.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>Amount ($)</font></b></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:9.0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt'><b><font size=1>Value ($)</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:8.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:8.0pt;margin-bottom:0pt'><b><font size=2>Municipal Bonds and Notes 154.6%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Alabama 5.2%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Alabama, Port Authority Revenue, Docks Department, AMT, 6.3%, 10/1/2021 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>8,250,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>8,431,583</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Camden, AL, Industrial Development Board Revenue, AMT, Series B, 6.375%, 12/1/2024 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,092,830</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Huntsville, AL, Hospital &amp; Healthcare Revenue, Health Care Authority, Series A, 5.75%, 6/1/2031 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,500,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,860,690</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Huntsville, AL, Water &amp; Sewer Revenue, AMT, 5.75%, 10/1/2011 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>8,560,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>9,154,834</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>24,539,937</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Arizona 1.7%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Arizona, Hospital &amp; Healthcare Revenue, Health Facilities Authority, Catholic Healthcare West, Series A, 6.625%, 7/1/2020 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>7,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><b><font size=1>7,735,630</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>California 17.1%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>California, Electric Revenue, Department of Water Resources and Power Supply, Series A, 5.375%, 5/1/2022 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>7,350,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>8,098,891</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>California, Special Assessment Revenue, Golden State Tobacco Securitization Corp.:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series B, 5.625%, 6/1/2038  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>7,080,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>7,880,323 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series 2003-A-1, 6.75%, 6/1/2039  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:10.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>11,730,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:3.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>13,243,405 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>California, State General Obligation:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series 2, 5.0%, 9/1/2019  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,385,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,699,361 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5.0%, 12/1/2020  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,600,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,861,280 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5.0%, 3/1/2022 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,500,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,720,290 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5.0%, 6/1/2028  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,139,350 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5.125%, 4/1/2024  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,400,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,683,888 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5.25%, 12/1/2021  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:10.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>10,215,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:3.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>11,075,716 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5.25%, 4/1/2030  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,250,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,552,750 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>California, State Public Works Board, Lease Revenue, Department of Mental Health, Series A, 5.5%, 6/1/2021 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,525,050</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>California, State Revenue Lease, Public Works Board, Department of Corrections, Series C, 5.5%, 6/1/2021 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,500,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,747,850</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Mount Diablo, CA, Unified School District, Election of 2002, 5.0%, 6/1/2029 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,110,780</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Palmdale, CA, Water District Revenue, Certificates of Participation, 5.0%, 10/1/2034 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,080,820</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>80,419,754</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Colorado 6.9%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Colorado, Hospital &amp; Healthcare Revenue, Portercare Adventist Health Project, 6.5%, 11/15/2031 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,139,160</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Colorado, Hospital &amp; Healthcare Revenue, Poudre Valley Health Facilities:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 5.5%, 12/1/2017 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,145,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,547,620 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 6.0%, 12/1/2015 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,705,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,165,451 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 6.0%, 12/1/2016 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,161,420 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Colorado, Single Family Housing Revenue, AMT, Series B2, 7.25%, 10/1/2031 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:20.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>260,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:12.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>266,087</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Colorado, Transportation/Tolls Revenue, Anticipation Note, Prerefunded, 6.0%, 6/15/2011 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:10.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>10,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:3.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>10,888,600</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Denver, CO, Airport Revenue, AMT, Series A, 6.0%, 11/15/2014 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,405,550</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>32,573,888</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>District of Columbia 8.7%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>District of Columbia, Ballpark Revenue, Series B-1, 5.0%, 2/1/2017 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,275,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,456,227</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>District of Columbia, Core City General Obligation, Series B, 5.5%, 6/1/2011 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:10.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>20,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:3.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>21,596,200</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>District of Columbia, ETM, Series A, Prerefunded, 5.5%, 6/1/2014 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:20.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>640,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:12.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>676,122</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>District of Columbia, General Obligation:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Prerefunded, Series A-2005, 5.25%, 6/1/2027 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,585,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,682,997 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A-2005, 5.25%, 6/1/2027 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>8,245,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>8,506,696 </font></p> </td> </tr>
    <tr>
        <td width="19" ></td>

        <td width="384" ></td>

        <td width="10" ></td>

        <td width="10" ></td>

        <td width="77" ></td>

        <td width="19" ></td>

        <td width="58" ></td>

        <td width="10" ></td> </tr> </table>
            </div>

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<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>District of Columbia, Howard University Revenue, Series A, 5.0%, 10/1/2023 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,810,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,982,450</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>District of Columbia, State General Obligation, Series A, 5.5%, 6/1/2014 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,860,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,958,989</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>40,859,681</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Florida 6.5%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Dade County, FL, Airport Revenue, AMT, Series A, 5.75%, 10/1/2026 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:10.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>13,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:3.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>13,278,850</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Dade County, FL, Special Assessment Revenue:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series B, Prerefunded, Zero Coupon, 10/1/2022 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>7,735,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,068,784 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series B, Prerefunded, Zero Coupon, 10/1/2024 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:10.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>16,955,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,924,586 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Hillsborough County, FL, Industrial Development Revenue, University Community Hospital Project, Series A, 5.625%, 8/15/2023 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,044,490</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Miami-Dade County, FL, Transportation/Tolls Revenue, Expressway Authority:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6.0%, 7/1/2013 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,665,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,817,247 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6.0%, 7/1/2014 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,091,440 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Orange County, FL, Health Facilities Authority Revenue, Orlando Regional Healthcare System, 5.75%, 12/1/2032 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,109,160</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Palm Beach County, FL, School District Revenue Lease, Series A, Prerefunded, 5.75%, 8/1/2017 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,850,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,097,209</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>30,431,766</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Georgia 1.9%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Atlanta, GA, General Obligation, Series A, 5.0%, 12/1/2021 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,455,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,773,221</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Atlanta, GA, Water &amp; Wastewater Revenue, Water Utilities Improvements, 5.0%, 11/1/2024 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,214,840</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>8,988,061</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Hawaii 7.3%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Hawaii, Airport System Revenue, AMT, Series B, 6.5%, 7/1/2013 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>8,800,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>9,684,312</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Hawaii, Electric Revenue, Department of Budget &amp; Finance, AMT:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series D, 6.15%, 1/1/2020 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,195,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,329,861 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 6.2%, 5/1/2026 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:10.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>13,200,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:3.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>13,357,740 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Hawaii, Port Authority Revenue, AMT:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 6.0%, 7/1/2011 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,950,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,203,198 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 6.0%, 7/1/2012 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,135,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,381,944 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Hawaii, State General Obligation, Series CT, Prerefunded, 5.75%, 9/1/2014 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,310,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,472,693</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>34,429,748</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Idaho 0.0%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Idaho, Single Family Housing Revenue, AMT, Series C2, 6.9%, 7/1/2025 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:20.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>115,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
            <p style='margin-left:17.3pt;text-indent:12.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><b><font size=1>115,163</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Illinois 9.6%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Chicago, IL, Airport Revenue, O&#146;Hare International Airport, AMT, 5.5%, 1/1/2014 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:10.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>10,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:3.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>10,538,000</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Chicago, IL, Core City General Obligation:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, Prerefunded, 6.0%, 1/1/2014 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,085,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,280,364 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, Prerefunded, 6.125%, 1/1/2015 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,195,880 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 6.125%, 1/1/2016 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,195,880 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Chicago, IL, O&#146;Hare International Airport Revenue, Series A, 5.0%, 1/1/2019 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,271,840</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Chicago, IL, Other General Obligation, Neighborhoods Alive 21 Project:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, Prerefunded, 6.0%, 1/1/2015 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,093,700 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 6.0%, 1/1/2017 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,093,700 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Chicago, IL, Water Revenue, Series A, 5.0%, 11/1/2020 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,615,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,878,425</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Illinois, Development Finance Authority, Hospital Revenue, Adventist Health System, Sunbelt Obligation, 5.5%, 11/15/2020 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,500,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,665,150</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Illinois, Health Facilities Authority Revenue, Children&#146;s Memorial Hospital, Series A, Prerefunded, 5.625%, 8/15/2019 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,262,280</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Illinois, Higher Education Revenue, DePaul University, Educational Facilities Authority:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Prerefunded, 5.625%, 10/1/2013 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,695,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,923,186 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Prerefunded, 5.625%, 10/1/2015 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,710,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,854,786 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Illinois, Sales &amp; Special Tax Revenue, Metropolitan Pier &amp; Exposition Authority:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, ETM, 5.5%, 6/15/2017 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,955,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,227,273 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 5.5%, 6/15/2017 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,555,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,761,457 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Will County, IL, Industrial Development Revenue, Mobil Oil Refining Corp. Project, AMT, 6.0%, 2/1/2027 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,036,860</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr>
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        <td width="384" ></td>

        <td width="10" ></td>

        <td width="10" ></td>

        <td width="77" ></td>

        <td width="19" ></td>

        <td width="58" ></td>

        <td width="10" ></td> </tr> </table>
            </div>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>45,278,781</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Indiana 1.2%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Indiana, Hospital &amp; Healthcare Revenue, Health Facilities Authority, 5.5%, 11/1/2031 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><b><font size=1>5,471,200</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Kansas 0.7%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Overland Park, KS, Industrial Development Revenue, Series A, 7.375%, 1/1/2032 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><b><font size=1>3,288,030</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Kentucky 1.4%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Kentucky, Hospital &amp; Healthcare Revenue, Economic Development Finance Authority, Norton Healthcare, Inc.:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 6.5%, 10/1/2020  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,170,120 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 6.625%, 10/1/2028  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,353,240 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>6,523,360</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Louisiana 0.5%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Louisiana, Electric Revenue, 5.75%, 1/1/2013 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><b><font size=1>2,216,980</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Maine 1.4%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Maine, Hospital &amp; Healthcare Revenue, Series D, 5.7%, 7/1/2013 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:20.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>375,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:12.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>375,559</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Maine, Transportation/Tolls Revenue, 5.0%, 7/1/2017 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,165,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,352,601</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>6,728,160</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Maryland 0.6%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Maryland, Hospital &amp; Healthcare Revenue, University of Maryland Medical System, 6.75%, 7/1/2030 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,500,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><b><font size=1>2,802,700</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Massachusetts 3.5%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Massachusetts, Airport Revenue, AMT, Series B, 5.5%, 7/1/2009 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>8,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>8,375,840</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Massachusetts, Airport Revenue, U.S. Airways, Inc. Project, AMT, Series A, 5.875%,   9/1/2023 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,108,500</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Massachusetts, Port Authority Revenue, AMT, Series B, 5.5%, 7/1/2015 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,158,430</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>16,642,770</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Michigan 2.2%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Chippewa County, MI, Hospital &amp; Healthcare Revenue, Chippewa County War Memorial, Series B, 5.625%, 11/1/2014 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,500,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,505,895</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Michigan, Industrial Development Revenue:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5.5%, 6/1/2018 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,425,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,649,680 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5.75%, 6/1/2016 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,640,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,984,706 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>10,140,281</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Minnesota 1.6%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Minneapolis &amp; St. Paul, MN, Airport Revenue, AMT, Series B, 6.0%, 1/1/2012 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,395,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,716,406</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Minneapolis &amp; St. Paul, MN, Port Authority Revenue, AMT, Series B, 5.625%, 1/1/2015 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,500,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,630,875</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>7,347,281</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Missouri 0.1%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Missouri, Hospital &amp; Healthcare Revenue, Lake of the Ozarks General Hospital, 6.5%, 2/15/2021 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:20.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>365,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
            <p style='margin-left:17.3pt;text-indent:12.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><b><font size=1>372,873</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Nevada 2.4%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Las Vegas, NV, Core City General Obligation, Water &amp; Sewer Revenue, 5.375%, 4/1/2014 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,705,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,904,331</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Nevada, State General Obligation, Capital Improvement and Cultural Affairs Project, Series A, 5.5%, 2/1/2014 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,575,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,712,943</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Washoe County, NV, School District General Obligation, Prerefunded, 5.75%, 6/1/2014 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,450,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,810,354</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>11,427,628</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>New Jersey 11.0%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>New Jersey, Casino Reinvestment Development Authority, Hotel Room Fee Revenue, 5.0%, 1/1/2025 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,246,840</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>New Jersey, Economic Development Authority Revenue, Cigarette Tax, 5.75%, 6/15/2034 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,090,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,161,351</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>New Jersey, Hospital &amp; Healthcare Revenue, General Hospital Center at Passaic, ETM, 6.75%, 7/1/2019 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,134,700</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>New Jersey, Industrial Development Revenue, American Water Co., Inc. Project, AMT, Series A, 6.875%, 11/1/2034 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:10.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>10,775,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:3.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>10,831,677</font></p> </td> </tr>
    <tr>
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        <td width="384" ></td>

        <td width="10" ></td>

        <td width="10" ></td>

        <td width="77" ></td>

        <td width="19" ></td>

        <td width="58" ></td>

        <td width="10" ></td> </tr> </table>
            </div>

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<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>New Jersey, Industrial Development Revenue, Economic Development Authority, Harrogate, Inc., Series A, 5.875%, 12/1/2026 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,400,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,442,126</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>New Jersey, Resource Recovery Revenue, Tobacco Settlement Financing Corp., 5.75%, 6/1/2032 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,280,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,395,710</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>New Jersey, State Agency General Obligation Lease, Transportation Trust Fund Authority, Series A, Prerefunded, 5.75%, 6/15/2017 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:10.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>10,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:3.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>10,768,100</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>New Jersey, Transportation/Tolls Revenue, Economic Development Authority, Series A, Prerefunded, 5.75%, 5/1/2013 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,335,040</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>New Jersey, Transportation/Tolls Revenue, Garden State Parkway Project, Prerefunded, 5.6%, 1/1/2017 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>8,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>8,580,720</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>51,896,264</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>New York 13.3%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Nassau County, NY, Hospital &amp; Healthcare, 6.0%, 8/1/2015 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,390,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,684,015</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>New York, State Agency General Obligation Lease, Higher Education Revenue, Dormitory Authority, Bronx-Lebanon, Hospital Center, Series E, 5.2%, 2/15/2016  </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,770,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,825,542 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>New York, State Agency General Obligation Lease, Higher Education Revenue, Dormitory Authority, City University, Series A, 5.625%, 7/1/2016 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,500,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,674,870</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>New York, State Agency General Obligation Lease, Higher Education Revenue, Dormitory</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Authority, Jamaica Hospital, Series F, 5.2%, 2/15/2016  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,031,380 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>New York, State General Obligation, Tobacco Settlement Financing Corp.:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A-1, 5.25%, 6/1/2022 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:10.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>10,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:3.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>10,717,100 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A-1, 5.5%, 6/1/2019  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,900,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,066,421 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>New York, Tobacco Settlement Financing Corp., Series B-1C, 5.5%, 6/1/2019 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,500,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,981,745</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>New York, Transportation/Tolls Revenue:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Prerefunded, 5.625%, 4/1/2013 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,306,450 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Prerefunded, 5.75%, 4/1/2014 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,128,700 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>New York, NY, Core City General Obligation, Series F, 5.25%, 8/1/2015 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,313,000</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>New York, NY, General Obligation:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series G, 5.0%, 12/1/2023  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,099,780 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series D, 5.0%, 11/1/2024  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>7,500,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>7,860,525 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series F, Prerefunded, 5.25%, 8/1/2015 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:24.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>50,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:17.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>51,682 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series F, 5.25%, 8/1/2015 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,950,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,096,916 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>New York, NY, Sales &amp; Special Tax Revenue, Transitional Finance Authority:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series B, Prerefunded, 6.125%, 11/15/2014  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,645,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,807,312 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series B, 6.125%, 11/15/2014  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:21.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>355,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:13.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>390,028 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series B, Prerefunded, 6.125%, 11/15/2015  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,296,010 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Niagara Falls, NY, School District General Obligation, 5.6%, 6/15/2014 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,180,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,332,574</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Rensselaer County, NY, Industrial Development Agency, Civic Facility Revenue, Hawthorne Ridge Project, 3.36% *, 10/30/2035, Citizens Bank NA (b) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>62,664,050</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>North Carolina 1.7%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Charlotte, NC, Airport Revenue, AMT:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series B, 5.75%, 7/1/2013 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,480,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,615,805 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series B, 5.875%, 7/1/2014 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,140,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,206,211 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>North Carolina, Electric Revenue, Municipal Power Agency:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series C, 5.375%, 1/1/2017  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,062,690 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series B, 6.375%, 1/1/2013  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,238,080 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>8,122,786</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>North Dakota 0.8%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Grand Forks, ND, Hospital &amp; Healthcare Revenue, Altru Health Care System, 7.125%, 8/15/2024 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,400,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><b><font size=1>3,770,566</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Ohio 2.0%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Green Springs, OH, Senior Care Revenue, St. Francis Health Care Center Project, Series A, 7.125%, 5/15/2025 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,780,580</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Ohio, Higher Education Revenue, University of Findlay Project:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6.125%, 9/1/2016  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,020,000 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6.15%, 9/1/2011  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,635,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,651,350 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>9,451,930</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid; '>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Oregon 3.3%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr>
        <td width="19" ></td>

        <td width="384" ></td>

        <td width="10" ></td>

        <td width="10" ></td>

        <td width="77" ></td>

        <td width="19" ></td>

        <td width="58" ></td>

        <td width="10" ></td> </tr> </table>
            </div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Oregon, Other Revenue Lease, Department of Administrative Services:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 5.5%, 5/1/2010 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,245,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,296,074 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 5.6%, 5/1/2011 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,120,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,169,608 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Oregon, State General Obligation Lease, Department of Administrative Services, Series A, Prerefunded, 6.25%, 5/1/2017 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,099,050</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Oregon, State Revenue Lease, Department of Administrative Services, Series A, Prerefunded, 6.25%, 5/1/2018 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,099,050</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Portland, OR, Special Assessment Revenue, Downtown Waterfront:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 5.625%, 6/15/2015 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,100,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,336,530 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 5.75%, 6/15/2018 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,225,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,406,226 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 5.75%, 6/15/2019 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,820,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,049,689 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>15,456,227</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Pennsylvania 2.3%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Pennsylvania, Hospital &amp; Healthcare Revenue, Economic Development Financing Authority, UPMC Health System, Series A, 6.0%, 1/15/2031 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,570,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,801,711</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Philadelphia, PA, Gas Works Revenue, Series A-1, 5.0%, 9/1/2029 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,205,600</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Philadelphia, PA, Municipal Authority Revenue, Series B, 5.25%, 11/15/2018 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,500,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,683,450</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>10,690,761</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Puerto Rico 0.2%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Commonwealth of Puerto Rico, Public Improvement, Series A, 5.25%, 7/1/2030 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><b><font size=1>1,061,860</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Rhode Island 0.9%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Rhode Island, Special Assessment Revenue, Series A, 6.125%, 6/1/2032 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><b><font size=1>4,242,600</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>South Carolina 2.7%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Greenwood County, SC, Hospital &amp; Healthcare Revenue, South Carolina Memorial Hospital, 5.5%, 10/1/2031 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,500,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,569,840</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>South Carolina, Hospital &amp; Healthcare Revenue, Jobs Economic Development Authority, Palmetto Health Alliance, Series A, Prerefunded, 7.375%, 12/15/2021 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,320,180</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>South Carolina, Jobs Economic Development Authority, Hospital Facilities Revenue, Palmetto Health:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series C, Prerefunded, 7.0%, 8/1/2030  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,825,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,743,921 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series C, 7.0%, 8/1/2030  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:21.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>595,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:13.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>691,176 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>South Carolina, Tobacco Settlement Revenue Management Authority, Series B, 6.0%, 5/15/2022 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,117,580</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>12,442,697</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Tennessee 4.9%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Clarksville, TN, Natural Gas Acquisition Corp., Gas Revenue, 5.0%, 12/15/2021 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,154,400</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Memphis-Shelby County, TN, Airport Revenue, AMT, Series D, 6.25%, 3/1/2017 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,690,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,074,721</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Shelby County, TN, Health Educational &amp; Housing Facility Board, Hospital Revenue, Methodist Health Care:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font SIZE=1>EMT, 6.5%, 9/1/2026  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,615,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,013,029 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Prerefunded, 6.5%, 9/1/2026  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,385,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,052,441 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Tennessee, Energy Acquisition Corp., Gas Revenue, Series A, 5.25%, 9/1/2019 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>7,000,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>7,726,880</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>23,021,471</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Texas 18.5%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Austin, TX, Sales &amp; Special Tax Revenue, Hotel Occupancy Tax:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6.0%, 11/15/2013 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,190,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,422,136 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6.0%, 11/15/2015 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,480,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,733,240 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6.0%, 11/15/2016 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,625,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,888,791 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Brazos River, TX, Pollution Control Revenue, Brazos River Authority, Texas Utilities Electric Co. Project, AMT, Series C, 5.75% *, 5/1/2036 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,965,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,212,138</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Dallas-Fort Worth, TX, Airport Revenue, International Airport, AMT, Series A, 5.875%, 11/1/2016 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,500,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>7,055,490</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>El Paso, TX, State General Obligation:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5.875%, 8/15/2012 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,000,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,022,010 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5.875%, 8/15/2013 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,570,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,604,556 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5.875%, 8/15/2014 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,665,000 </font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,701,647 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Granbury, TX, Independent School District, 5.0%, 8/1/2024 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,365,000</font></p> </td>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,549,301</font></p> </td> </tr>
    <tr>
        <td width="19" ></td>

        <td width="384" ></td>

        <td width="10" ></td>

        <td width="10" ></td>

        <td width="77" ></td>

        <td width="19" ></td>

        <td width="58" ></td>

        <td width="10" ></td> </tr> </table>
            </div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Harris County, TX, Hospital &amp; Healthcare Revenue, Health Facilities Development Corp., Memorial Hermann Healthcare Systems, Series A, 6.375%, 6/1/2029 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,500,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,187,720</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Houston, TX, Airport Revenue, People Mover Project, AMT, Series A, 5.5%, 7/15/2017 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,300,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,342,834</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Houston, TX, Port Authority Revenue, Airport Revenue, AMT, Series A, 5.875%, 7/1/2014 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,960,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,219,023</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Red River, TX, School District Revenue Lease, St. Mark&#146;s School Project, 6.0%, 8/15/2019 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,390,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,767,785</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Socorro, TX, Independent School District, 5.0%, 8/15/2025 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,135,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,413,420</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Tarrant County, TX, Hospital &amp; Healthcare Revenue, Health Facilities Development Corp., 6.7%, 11/15/2030 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,500,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,061,465</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Texas, Industrial Development Revenue, Waste Disposal Authority, AMT, Series A, 6.1%, 8/1/2024 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,155,380</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Texas, State General Obligation, College Student Loans, AMT, 5.0%, 8/1/2021 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,015,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,016,325</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Texas, State Turnpike Authority, Dallas Northway Revenue, 5.5%, 1/1/2015 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:10.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>14,605,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:3.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>15,223,230</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Texas, White Settlement, Independent School District, 5.125%, 8/15/2026 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,035,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,359,455</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="9" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>86,935,946</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Washington 5.8%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Seattle, WA, Airport Revenue, AMT, Series B, 6.0%, 2/1/2013 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>7,355,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>8,175,597</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Seattle, WA, Special Assessment Revenue, AMT:</font></p> </td>
        <td   colspan="6">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series B, 5.5%, 9/1/2011 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,085,000 </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,151,793 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series B, 5.75%, 9/1/2013 (a) </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,045,000 </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,111,096 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Skagit County, WA, School District General Obligation, School District No. 1, Burlington Edison, 5.625%, 12/1/2014 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,570,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,699,164</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Snohomish County, WA, Electric Revenue, Public Utility District No. 1, 5.375%, 12/1/2024 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,000,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,190,860</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Washington, Electric Revenue, Energy Northwest Columbia Generating, Series B, 6.0%, 7/1/2018 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,000,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,338,070</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Washington, Hospital &amp; Healthcare Revenue, Group Health Coop of Puget Sound, 5.375%, 12/1/2017 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,500,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>1,605,720</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>Washington, State General Obligation:</font></p> </td>
        <td   colspan="6">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 5.5%, 7/1/2013  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,000,000 </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,103,320 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 5.5%, 7/1/2016  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,835,000 </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>5,084,776 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="9" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>27,460,396</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>West Virginia 4.4%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>West Virginia, Hospital &amp; Healthcare Revenue, Hospital Finance Authority, Charleston Medical Center:</font></p> </td>
        <td   colspan="6">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Series A, 6.75%, 9/1/2022  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,355,000 </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,600,815 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6.75%, 9/1/2030  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:21.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>395,000 </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:13.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>433,777 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:0in;margin-bottom:0in'><font size=1>West Virginia, Hospital Finance Authority, Charleston Medical Center:</font></p> </td>
        <td   colspan="6">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Prerefunded, 6.75%, 9/1/2022  </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>9,645,000 </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:3.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>10,841,463 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Prerefunded, 6.75%,  9/1/2030    </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:15.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>3,605,000 </font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:7.5pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,052,200 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>West Virginia, Water &amp; Sewer Revenue, Water Development Authority, Series B, 5.25%, 11/1/2023 (a) </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,740,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>2,977,421</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="9" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>20,905,676</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><b><font size=2>Wisconsin 2.3%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Badge, WI, Tobacco Asset Securitization Corp., 6.125%, 6/1/2027 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,230,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>4,508,334</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Wisconsin, Hospital &amp; Healthcare Revenue, Health &amp; Education Facilities Authority, Aurora Health Care, Inc., Series A, 5.6%, 2/15/2029 </font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:17.3pt;text-indent:14.25pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,000,000</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:-14.0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:17.3pt;text-indent:6.75pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>6,222,900</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="9" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="7" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:6.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>10,731,234</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:40.5pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt'><b><font size=1>% of</font></b></p>
<p style='margin-left:0pt;text-indent:19.5pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>Net Assets</font></b></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:9.0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt'><b><font size=1>Value ($)</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="9" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                                                                                                                                                                                                                                                                                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>Total Investment Portfolio</font></b><font size=1> (Cost $677,040,763) </font></p> </td>
        <td colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:45.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>154.6</font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="3" valign=bottom >
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>727,188,136</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="2" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>Other Assets and Liabilities, Net</font></b></p> </td>
        <td colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:53.25pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>1.7</font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="3" valign=bottom >
            <p style='margin-left:0pt;text-indent:17.25pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>8,207,104</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="2" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>Preferred Shares, at Redemption Value</font></b></p> </td>
        <td colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:46.5pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>(56.3)</font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="3" valign=bottom >
            <p style='margin-left:0pt;text-indent:7.5pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>(265,000,000)</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="9" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;line-height:17.28%'>                                                                                                </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="2" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>Net Assets Applicable to Common Shareholders</font></b></p> </td>
        <td colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:45.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>100.0</font></p> </td>
        <td width="10" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="3" valign=bottom >
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>470,395,240</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><i>&nbsp;</i></p> </td>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><i><font size=1>For information on the Fund&#146;s policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund&#146;s most recent semi-annual or annual financial statements.</font></i><i></i></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><i><font size=1>*</font></i><i></i></p> </td>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><i><font size=1>Variable rate demand notes are securities whose interest rates are reset periodically at market levels. These securities are often payable on demand and are shown at their current rates as of August 31, 2006.</font></i><i></i></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><i><font size=1>(a)</font></i><i></i></p> </td>
        <td colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><i><font size=1>Bond is insured by one of these companies:</font></i><i></i></p> </td> </tr>
    <tr>
        <td width="19" ></td>

        <td width="384" ></td>

        <td width="10" ></td>

        <td width="10" ></td>

        <td width="77" ></td>

        <td width="10" ></td>

        <td width="10" ></td>

        <td width="58" ></td>

        <td width="10" ></td> </tr> </table>
            </div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style='page-break-before:always'></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="372" style='margin-left:23.4pt;border-collapse:collapse'>
    <tr style='height:12.75pt'>
        <td width="245" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><i>&nbsp;</i></p> </td>
        <td width="127" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><i><b><font size=1>As a % of Total</font></b></i><i></i></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="245" nowrap valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><i><b><font size=1>Insurance Coverage</font></b></i><i></i></p> </td>
        <td width="127" nowrap valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><i><b><font size=1>Investment Portfolio</font></b></i><i></i></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="245" nowrap valign=top style='border-bottom: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><i><font size=1>Ambac Financial Group, Inc.</font></i><i></i></p> </td>
        <td width="127" nowrap valign=top style='border-bottom: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><i><font size=1>17.2</font></i><i></i></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="245" nowrap valign=top style='border-bottom: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><i><font size=1>Financial Guaranty Insurance Company</font></i><i></i></p> </td>
        <td width="127" nowrap valign=top style='border-bottom: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><i><font size=1>12.4</font></i><i></i></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="245" nowrap valign=top style='border-bottom: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><i><font size=1>Financial Security Assurance, Inc.</font></i><i></i></p> </td>
        <td width="127" nowrap valign=top style='border-bottom: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><i><font size=1>15.7</font></i><i></i></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="245" nowrap valign=top style='border-bottom: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><i><font size=1>MBIA Corp.</font></i><i></i></p> </td>
        <td width="127" nowrap valign=top style='border-bottom: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><i><font size=1>13.2</font></i><i></i></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><i><font size=1>(b)</font></i><i></i></p> </td>
        <td width="566" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><i><font size=1>Security incorporates a letter of credit from a major bank.</font></i><i></i></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><i><font size=1>AMT: Subject to alternative minimum tax.</font></i><i></i></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><i><font size=1>ETM: Bonds bearing the description ETM (escrow to maturity) are collateralized by US Treasury securities which are held in escrow and used to pay principal and interest on bonds so designated.</font></i><i></i></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><i><font size=1>Prerefunded: Bonds which are prerefunded are collateralized by US Treasury securities which are held in escrow and are used to pay principal and interest on tax-exempt issues and to retire the bonds in full at the earliest refunding date.</font></i><i></i></p> </td> </tr></table>
</div>

<p style=' margin-bottom:3pt; margin-top:3pt;text-align:left;'><font size=1>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<!-- EEDocs PBStart-->
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


</div>




<div style='width:600;'>



<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SIGNATURES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="192" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Registrant: </font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>DWS Municipal Income Trust</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="339" style='border-collapse:collapse'>
    <tr >
        <td width="192" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td  nowrap colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/Michael G. Clark</font></u></p> </td> </tr>
    <tr >
        <td width="192" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Michael G. Clark</font></p> </td>
        <td  width="16">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1.5in; text-indent:0.5in;text-align:left;'><font size=2>President</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="323" style='border-collapse:collapse'>
    <tr >
        <td width="192" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date:</font></p> </td>
        <td width="131" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>October 23, 2006</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="192" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Registrant: </font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>DWS Municipal Income Trust</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="339" style='border-collapse:collapse'>
    <tr >
        <td width="192" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td  nowrap colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/Michael G. Clark</font></u></p> </td> </tr>
    <tr >
        <td width="192" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Michael G. Clark</font></p> </td>
        <td  width="16">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1.5in; text-indent:0.5in;text-align:left;'><font size=2>President</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="323" style='border-collapse:collapse'>
    <tr >
        <td width="192" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date:</font></p> </td>
        <td width="131" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>October 23, 2006</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="315" style='border-collapse:collapse'>
    <tr >
        <td width="192" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td  nowrap colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/Paul Schubert</font></u></p> </td> </tr>
    <tr >
        <td width="192" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="108" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Paul Schubert</font></p> </td>
        <td  width="15">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1.5in; text-indent:0.5in;text-align:left;'><font size=2>Chief Financial Officer and Treasurer</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="323" style='border-collapse:collapse'>
    <tr >
        <td width="192" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date:</font></p> </td>
        <td width="131" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>October 23, 2006</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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<p style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><font COLOR="#454545"><B><font FACE="ARIAL" SIZE=2>CERTIFICATIONS</font></B></font></p>

<p style=' margin-bottom:0pt; margin-top:6pt;text-align:left;'><font COLOR="#454545"><font SIZE=2>I, </font></font><font size=2>Michael G. Clark</font><font color="#454545"><font size=2>, certify that:</font></font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>1.</font></font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>I have reviewed this report on Form N-Q of </font></font><font size=2>DWS Municipal Income Trust</font><font color="#454545"><font size=2>;</font></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>2. </font></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </font></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>3. </font></font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; </font></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>4. </font></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>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></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>(a)</font></font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>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></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>(b)</font></font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>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></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>(c)</font></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>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></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>(d)</font></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and </font></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>5. </font></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>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></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>(a)</font></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>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></font></p> </td> </tr></table>


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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>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> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Registrant: </font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>DWS Municipal Income Trust</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/Michael G. Clark</font></u></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Michael G. Clark</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1.5in; text-indent:0.5in;text-align:left;'><font size=2>President</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date:</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>October 23, 2006</font></p> </td> </tr></table>

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<p style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><font COLOR="#454545"><B><font FACE="ARIAL" SIZE=2>CERTIFICATIONS</font></B></font></p>

<p style=' margin-bottom:0pt; margin-top:6pt;text-align:left;'><font COLOR="#454545"><font SIZE=2>I, </font></font><font size=2>Paul Schubert</font><font color="#454545"><font size=2>, certify that:</font></font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>1.</font></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>I have reviewed this report on Form N-Q of </font></font><font size=2>DWS Municipal Income Trust</font><font color="#454545"><font size=2>;</font></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>2.</font></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </font></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>3.</font></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; </font></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>4.</font></font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>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></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>(a)</font></font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>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></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>(b)</font></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>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></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>(c)</font></font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>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></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>(d)</font></font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and </font></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>5.</font></font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>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></font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>(a)</font></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are </font></font></p> </td> </tr></table>


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<br>
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<pAGE>

<p style=' margin-bottom:0pt; margin-top:6pt; margin-left:1.5in;text-align:left;'><font color="#454545"><font size=2>reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and </font></font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>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> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Registrant: </font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>DWS Municipal Income Trust</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td  nowrap colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/Paul Schubert</font></u></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Paul Schubert</font></p> </td>
        <td  width="15">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1.5in; text-indent:0.5in;text-align:left;'><font size=2>Chief Financial Officer and Treasurer</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Date:</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>October 23, 2006</font></p>


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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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