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<SEC-DOCUMENT>0000088053-07-001224.txt : 20071030
<SEC-HEADER>0000088053-07-001224.hdr.sgml : 20071030
<ACCEPTANCE-DATETIME>20071030150910
ACCESSION NUMBER:		0000088053-07-001224
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070831
FILED AS OF DATE:		20071030
DATE AS OF CHANGE:		20071030
EFFECTIVENESS DATE:		20071030

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:		071199225

	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>nq083107mit.htm
<TEXT>
<html>
    <head>
        <title></title>
    </head>

    <body style="FONT-FAMILY: 'Times New Roman'" bgcolor="#ffffff">
        <div style="WIDTH: 600px">
            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font color="#4f4f4f"><font size="2">UNITED STATES</font></font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font color="#4f4f4f"><font size="2">SECURITIES AND EXCHANGE
            COMMISSION</font></font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font color="#4f4f4f"><font size="2">Washington, DC 20549</font></font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font color="#4f4f4f"><b><font size="2">FORM N-Q</font></b></font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 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-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font color="#4f4f4f"><b><font size="2">MANAGEMENT INVESTMENT
            COMPANY</font></b></font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font color="#4f4f4f"><b><font size="2">_______________________________</font></b></font></p>

            <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
            <font color="#4f4f4f"><font size="2">Investment Company Act file number
            811-05655</font></font></p>

            <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <u><font size="2">DWS Municipal Income Trust</font></u></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font color="#4f4f4f"><font size="2">(Exact name of registrant as specified in
            charter)</font></font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">222
            South Riverside Plaza</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <u><font size="2">Chicago, IL 60606</font></u></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font color="#4f4f4f"><font size="2">(Address of principal executive offices) &nbsp;
            &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; (Zip code)</font></font></p>

            <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font color="#4f4f4f"><font size="2">Paul Schubert</font></font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font color="#4f4f4f"><font size="2">345 Park Avenue</font></font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font color="#4f4f4f"><font size="2">New York, NY 10154</font></font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font color="#4f4f4f"><font size="2">(Name and address of agent for
            service)</font></font></p>

            <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; 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-TOP: 12pt; MARGIN-BOTTOM: 0pt; 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-TOP: 12pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
            <font color="#4f4f4f"><font size="2">Date of reporting
            period:</font><u><font size="2">08/31/07</font></u></font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">ITEM 1.
            SCHEDULE OF INVESTMENTS</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
            <u><font size="5">Investment
            Portfolio</font>&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;
            <b><font size="2">as of</font></b> <b><font size="2">August 31, 2007
            (Unaudited)</font></b></u> <font size="2">&nbsp;</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><b><font size="2">DWS
            Municipal Income Trust</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="586" border="0">
                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: center" align="center">
                            <b><font size="1">Principal</font></b><br>
                            <b><font size="1"><u>Amount ($)</u></font></b></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: center" align="center">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: center" align="center"><b><font size="1"><u>Value
                            ($)</u></font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="5">
                            <p><b><font size="2">Municipal Bonds and Notes 149.5%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p><b><font size="2">Alabama 3.5%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="2">
                            <p><font size="1">Camden, AL, Industrial Development Board Revenue,
                            AMT, Series B, 6.375%, 12/1/2024</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">1,069,340</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="2">
                            <p><font size="1">Huntsville, AL, Hospital &amp; Healthcare Revenue,
                            Health Care Authority, Series A, 5.75%, 6/1/2031</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">5,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">5,932,575</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="2">
                            <p><font size="1">Huntsville, AL, Water &amp; Sewer Revenue, AMT,
                            5.75%, 10/1/2011 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">8,560,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">8,990,911</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="5">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 6.75pt">
                            <b><font size="1">15,992,826</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p><b><font size="2">Arizona 1.7%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="2">
                            <p><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 valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">7,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt">
                            <b><font size="1">7,601,720</font></b></p>
                        </td>
                    </tr>

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

                        <td width="394">
                        </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-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
            <!-- EEDocs PBStart--><PAGE><!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="586" border="0">
                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">California 18.6%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">California, Health Facilities Financing Authority
                            Revenue, Sutter Health, Series A, 5.0%, 11/15/2042</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">2,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">1,981,840</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">California, Special Assessment Revenue, Golden State
                            Tobacco Securitization Corp.:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A-1, 5.0%, 6/1/2033</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">4,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 11.25pt"><font size="1">3,626,480</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 5.0%, 6/1/2038 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">2,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 11.25pt"><font size="1">2,526,225</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series B, 5.625%, 6/1/2038</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">7,080,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 11.25pt"><font size="1">7,690,650</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series 2003-A-1, 6.75%, 6/1/2039</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">11,730,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 6.75pt"><font size="1">13,479,882</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">California, State General Obligation:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">4.5%, 10/1/2029</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">15,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">13,805,700</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series 2, 5.0%, 9/1/2019</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,385,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,575,572</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">5.0%, 12/1/2020</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,600,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,755,296</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">5.0%, 3/1/2022 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,629,535</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">5.0%, 6/1/2028</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,039,210</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">5.125%, 4/1/2024</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,400,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,541,108</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">5.25%, 12/1/2021</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">10,215,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">10,707,465</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">5.25%, 4/1/2030</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">110,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">113,936</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">California, State Public Works Board, Lease Revenue,
                            Department of Corrections, Series C, 5.5%, 6/1/2021</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,653,575</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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 valign="bottom" width="10">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,328,350</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Palmdale, CA, Water District Revenue, Certificates of
                            Participation, 5.0%, 10/1/2034 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,023,700</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">84,478,524</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Colorado 4.7%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Colorado, Hospital &amp; Healthcare Revenue,
                            Portercare Adventist Health Project, 6.5%, 11/15/2031</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,115,590</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Colorado, Hospital &amp; Healthcare Revenue, Poudre
                            Valley Health Facilities:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 5.5%, 12/1/2017 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">6,145,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">6,434,491</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 6.0%, 12/1/2015 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,705,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">6,034,749</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 6.0%, 12/1/2016 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,115,600</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Colorado, Single Family Housing Revenue, AMT, Series
                            B2, 7.25%, 10/1/2031</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">230,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">244,732</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Denver, CO, Airport Revenue, AMT, Series A, 6.0%,
                            11/15/2014 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,290,150</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">21,235,312</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">District of Columbia 8.3%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">District of Columbia, Core City General Obligation,
                            Series B, 5.5%, 6/1/2011 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">20,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">21,245,000</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">District of Columbia, ETM, Series A, Prerefunded,
                            5.5%, 6/1/2014 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">640,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">664,646</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">District of Columbia, General Obligation:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Prerefunded, Series A-2005, 5.25%, 6/1/2027
                            (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">2,585,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 11.25pt"><font size="1">2,640,035</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A-2005, 5.25%, 6/1/2027 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">8,245,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 11.25pt"><font size="1">8,392,421</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">District of Columbia, Howard University Revenue,
                            Series A, 5.0%, 10/1/2023 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">2,810,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">2,908,406</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">District of Columbia, State General Obligation,
                            Series A, 5.5%, 6/1/2014 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,860,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">1,927,127</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 6.75pt">
                            <b><font size="1">37,777,635</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Florida 7.6%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Alachua County, FL, Health Facilities Authority
                            Revenue, Shands Teaching Hospital, Series A, 4.0%*, 12/1/2012, SunTrust
                            Bank (b)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,100,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">1,100,000</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Dade County, FL, Airport Revenue, AMT, Series A,
                            5.75%, 10/1/2026 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">13,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 6.75pt"><font size="1">13,201,760</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Dade County, FL, Special Assessment
                            Revenue:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series B, Prerefunded, Zero Coupon, 10/1/2022
                            (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">7,735,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 11.25pt"><font size="1">3,178,157</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series B, Prerefunded, Zero Coupon, 10/1/2024
                            (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">16,955,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 11.25pt"><font size="1">6,135,845</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Hillsborough County, FL, Industrial Development
                            Revenue, University Community Hospital Project, Series A, 5.625%,
                            8/15/2023</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">1,006,450</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Miami-Dade County, FL, Transportation/Tolls Revenue,
                            Expressway Authority:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">6.0%, 7/1/2013 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">1,665,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 11.25pt"><font size="1">1,777,604</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">6.0%, 7/1/2014 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">1,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 11.25pt"><font size="1">1,067,630</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Orange County, FL, Health Facilities Authority
                            Revenue, Orlando Regional Healthcare System:</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p style="TEXT-INDENT: 0.6pt"><font size="1">Series B, 4.0%*, 10/1/2041
                            (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">1,000,000</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-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
            <!-- EEDocs PBStart--><PAGE><!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="586" border="0">
                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p style="TEXT-INDENT: -0.15pt"><font size="1">5.75%,
                            12/1/2032</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">1,093,700</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Palm Beach County, FL, School District Revenue Lease,
                            Series A, Prerefunded, 5.75%, 8/1/2017 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">2,850,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">3,033,597</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">South Miami, FL, Health Facilities Authority Hospital
                            Revenue, Baptist Health South Florida Group, 5.0%, 8/15/2032</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">2,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">2,000,720</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 6.75pt">
                            <b><font size="1">34,595,463</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Georgia 3.6%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Atlanta, GA, General Obligation, Series A, 5.0%,
                            12/1/2021 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">4,455,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">4,644,872</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Atlanta, GA, Water &amp; Wastewater Revenue, Water
                            Utilities Improvements, 5.0%, 11/1/2024 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">4,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">4,107,560</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Georgia, Main Street National Gas, Inc., Gas Project
                            Revenue, Series A, 5.0%, 3/15/2022</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">7,340,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 10.5pt"><font size="1">7,527,023</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 6.75pt">
                            <b><font size="1">16,279,455</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Hawaii 4.5%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Hawaii, Airport System Revenue, AMT, Series B, 6.5%,
                            7/1/2013 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">8,800,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">9,448,384</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Hawaii, Electric Revenue, Department of Budget &amp;
                            Finance, AMT, Series D, 6.15%, 1/1/2020 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,195,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,271,737</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Hawaii, Port Authority Revenue, AMT:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 6.0%, 7/1/2011 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,950,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,143,373</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 6.0%, 7/1/2012 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,135,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,318,397</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Hawaii, State General Obligation, Series CT,
                            Prerefunded, 5.75%, 9/1/2014 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,310,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,422,636</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">20,604,527</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Idaho 0.0%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Idaho, Single Family Housing Revenue, AMT, Series C2,
                            6.9%, 7/1/2025</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">80,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">80,092</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Illinois 8.4%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Chicago, IL, Airport Revenue, O'Hare International
                            Airport, AMT, 5.5%, 1/1/2014 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">10,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">10,423,900</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Chicago, IL, Core City General Obligation:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, Prerefunded, 6.0%, 1/1/2014 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,085,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,232,993</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, Prerefunded, 6.125%, 1/1/2015
                            (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,148,620</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 6.125%, 1/1/2016 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,148,620</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Chicago, IL, Other General Obligation, Neighborhoods
                            Alive 21 Project:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, Prerefunded, 6.0%, 1/1/2015 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,070,980</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 6.0%, 1/1/2017 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,070,980</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Chicago, IL, Water Revenue, Series A, 5.0%, 11/1/2020
                            (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,615,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,783,893</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Illinois, Development Finance Authority, Hospital
                            Revenue, Adventist Health System, Sunbelt Obligation, 5.5%,
                            11/15/2020</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,613,300</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Illinois, Health Facilities Authority Revenue,
                            Children's Memorial Hospital, Series A, Prerefunded, 5.625%, 8/15/2019
                            (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,179,200</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Illinois, Higher Education Revenue, DePaul
                            University, Educational Facilities Authority:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Prerefunded, 5.625%, 10/1/2013 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,695,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,870,876</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Prerefunded, 5.625%, 10/1/2015 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,710,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,821,595</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Illinois, Sales &amp; Special Tax Revenue,
                            Metropolitan Pier &amp; Exposition Authority:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, ETM, 5.5%, 6/15/2017 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,955,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,174,566</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 5.5%, 6/15/2017 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,555,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,723,686</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">38,263,209</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Indiana 1.2%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Indiana, Hospital &amp; Healthcare Revenue, Health
                            Facilities Authority, 5.5%, 11/1/2031</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">5,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">5,386,200</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Kansas 0.7%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Overland Park, KS, Industrial Development Revenue,
                            Series A, 7.375%, 1/1/2032</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">3,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">3,162,090</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Kentucky 1.4%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Kentucky, Economic Development Finance Authority,
                            Health System Revenue, Norton Healthcare:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, Prerefunded, 6.5%, 10/1/2020</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 24pt"><font size="1">790,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">860,318</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 6.5%, 10/1/2020</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">1,210,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,266,120</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-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
            <!-- EEDocs PBStart--><PAGE><!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="586" border="0">
                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, Prerefunded, 6.625%, 10/1/2028</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">3,130,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,419,901</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 6.625%, 10/1/2028</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 24pt"><font size="1">870,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">931,378</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">6,477,717</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Louisiana 0.5%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Louisiana, Electric Revenue, 5.75%, 1/1/2013
                            (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">2,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">2,176,000</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Maine 1.5%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Maine, Hospital &amp; Healthcare Revenue, Series D,
                            5.7%, 7/1/2013 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 23.25pt"><font size="1">375,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">375,514</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Maine, Transportation/Tolls Revenue, 5.0%, 7/1/2017
                            (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">6,165,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">6,285,587</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">6,661,101</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Maryland 0.6%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Maryland, Hospital &amp; Healthcare Revenue,
                            University of Maryland Medical System, 6.75%, 7/1/2030</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">2,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">2,728,150</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Massachusetts 3.6%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Massachusetts, Airport Revenue, AMT, Series B, 5.5%,
                            7/1/2009 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">8,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">8,242,480</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Massachusetts, Airport Revenue, U.S. Airways, Inc.
                            Project, AMT, Series A, 5.875%, 9/1/2023 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">5,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,057,350</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Massachusetts, Port Authority Revenue, AMT, Series B,
                            5.5%, 7/1/2015 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">3,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,100,320</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">16,400,150</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Michigan 2.2%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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 valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,472,430</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Michigan, Industrial Development Revenue:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">5.5%, 6/1/2018 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">3,425,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,584,125</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">5.75%, 6/1/2016 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">4,640,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,885,642</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">9,942,197</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Minnesota 1.6%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Minneapolis &amp; St. Paul, MN, Airport Revenue, AMT,
                            Series B, 6.0%, 1/1/2012 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">4,395,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,622,705</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Minneapolis &amp; St. Paul, MN, Port Authority
                            Revenue, AMT, Series B, 5.625%, 1/1/2015 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">2,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,575,625</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">7,198,330</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Missouri 0.1%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Missouri, Hospital &amp; Healthcare Revenue, Lake of
                            the Ozarks General Hospital, 6.5%, 2/15/2021</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 23.25pt"><font size="1">365,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">367,113</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Nevada 1.9%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Nevada, State General Obligation, Capital Improvement
                            and Cultural Affairs Project, Series A, 5.5%, 2/1/2014</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">2,575,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,663,915</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Washoe County, NV, School District General
                            Obligation, Prerefunded, 5.75%, 6/1/2014 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">5,450,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,690,508</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">8,354,423</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">New Jersey 12.5%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New Jersey, Casino Reinvestment Development
                            Authority, Hotel Room Fee Revenue, 5.0%, 1/1/2025 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">4,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,130,800</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New Jersey, Economic Development Authority Revenue,
                            Cigarette Tax, 5.75%, 6/15/2034</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,090,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,133,622</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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 valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">5,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,956,500</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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 valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">10,775,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">10,899,451</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New Jersey, Industrial Development Revenue, Economic
                            Development Authority, Harrogate, Inc., Series A, 5.875%,
                            12/1/2026</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,400,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,405,544</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New Jersey, Resource Recovery Revenue, Tobacco
                            Settlement Financing Corp., 5.75%, 6/1/2032</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">2,025,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,168,188</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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 valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">10,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">10,555,500</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-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
            <!-- EEDocs PBStart--><PAGE><!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="586" border="0">
                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New Jersey, Tobacco Settlement Financing Corp.,
                            Series 1-A, 5.0%, 6/1/2041</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">7,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">6,067,950</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New Jersey, Transportation/Tolls Revenue, Economic
                            Development Authority, Series A, Prerefunded, 5.75%, 5/1/2013
                            (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">6,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">6,203,760</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New Jersey, Transportation/Tolls Revenue, Garden
                            State Parkway Project, Prerefunded, 5.6%, 1/1/2017 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">8,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">8,421,760</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">56,943,075</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">New York 11.7%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Nassau County, NY, Hospital &amp; Healthcare, 6.0%,
                            8/1/2015 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">3,390,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,597,027</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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 valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,770,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,808,551</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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 valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,641,810</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New York, State Agency General Obligation Lease,
                            Higher Education Revenue, Dormitory Authority, Jamaica Hospital, Series
                            F, 5.2%, 2/15/2016</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,021,780</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New York, State General Obligation, Tobacco
                            Settlement Financing Corp., Series A-1, 5.25%, 6/1/2022 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">10,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">10,481,300</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New York, Tobacco Settlement Financing Corp., Series
                            B-1C, 5.5%, 6/1/2019</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">5,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,851,395</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New York, Transportation/Tolls Revenue:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Prerefunded, 5.625%, 4/1/2013 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">5,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,201,150</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Prerefunded, 5.75%, 4/1/2014 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">2,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,084,280</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New York, NY, General Obligation:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series G, 5.0%, 12/1/2023</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">2,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,067,400</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series D, 5.0%, 11/1/2024</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">7,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">7,687,800</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series F, Prerefunded, 5.25%, 8/1/2015 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 27.75pt"><font size="1">50,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">50,824</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New York, NY, Municipal Water Finance Authority,
                            Water &amp; Sewer Systems Revenue, Series D, 5.0%, 6/15/2037</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">5,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,091,650</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New York, NY, Sales &amp; Special Tax Revenue,
                            Transitional Finance Authority:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series B, Prerefunded, 6.125%, 11/15/2014</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">1,645,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,765,776</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series B, 6.125%, 11/15/2014</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 24pt"><font size="1">355,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">381,064</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series B, Prerefunded, 6.125%, 11/15/2015</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">3,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,218,670</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Niagara Falls, NY, School District General
                            Obligation, 5.6%, 6/15/2014 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,180,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,308,585</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">53,259,062</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">North Carolina 1.8%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Charlotte, NC, Airport Revenue, AMT:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series B, 5.75%, 7/1/2013 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">2,480,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,572,653</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series B, 5.875%, 7/1/2014 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">1,140,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,185,075</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">North Carolina, Electric Revenue, Municipal Power
                            Agency:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series C, 5.375%, 1/1/2017</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">1,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,020,810</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series B, 6.375%, 1/1/2013</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">3,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,162,030</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">7,940,568</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">North Dakota 0.8%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Grand Forks, ND, Hospital &amp; Healthcare Revenue,
                            Altru Health Care System, 7.125%, 8/15/2024</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">3,400,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">3,741,054</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Ohio 1.3%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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 valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">6,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">5,806,140</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Oregon 2.4%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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 valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,074,830</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Oregon, State Revenue Lease, Department of
                            Administrative Services, Series A, Prerefunded, 6.25%, 5/1/2018
                            (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,074,830</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Portland, OR, Special Assessment Revenue, Downtown
                            Waterfront:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 5.625%, 6/15/2015 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">3,100,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,276,514</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 5.75%, 6/15/2018 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">2,225,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,360,191</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-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
            <!-- EEDocs PBStart--><PAGE><!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="586" border="0">
                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 5.75%, 6/15/2019 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">2,820,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,991,343</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">10,777,708</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Pennsylvania 1.7%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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 valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">2,570,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,732,064</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Philadelphia, PA, Gas Works Revenue, Series A-1,
                            5.0%, 9/1/2029 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">5,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,081,150</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">7,813,214</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Puerto Rico 0.2%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Commonwealth of Puerto Rico, Public Improvement,
                            Series A, 5.25%, 7/1/2030</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">1,022,980</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Rhode Island 0.9%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Rhode Island, Special Assessment Revenue, Series A,
                            6.125%, 6/1/2032</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">4,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">4,086,960</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">South Carolina 2.7%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Greenwood County, SC, Hospital &amp; Healthcare
                            Revenue, South Carolina Memorial Hospital, 5.5%, 10/1/2031</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,520,970</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">South Carolina, Jobs Economic Development Authority,
                            Hospital Facilities Revenue, Palmetto Health Alliance:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series C, Prerefunded, 7.0%, 8/1/2030</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">4,825,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,612,440</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series C, 7.0%, 8/1/2030</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 24pt"><font size="1">595,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">690,569</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, Prerefunded, 7.375%, 12/15/2021</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">2,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,258,740</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">South Carolina, Tobacco Settlement Revenue Management
                            Authority, Series B, 6.0%, 5/15/2022</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">2,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,050,340</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">12,133,059</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">South Dakota 0.3%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">South Dakota, State Health &amp; Educational
                            Facilities Authority Revenue, Sanford Health, 5.0%,
                            11/1/2027</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">1,508,475</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Tennessee 4.9%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Clarksville, TN, Natural Gas Acquisition Corp., Gas
                            Revenue, 5.0%, 12/15/2021</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">2,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,011,020</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Clarksville, TN, Public Building Authority Revenue,
                            Tennessee Municipal Bond Fund, 3.96%*, 7/1/2034, Bank of America NA
                            (b)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 23.25pt"><font size="1">300,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">300,000</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Memphis-Shelby County, TN, Airport Revenue, AMT,
                            Series D, 6.25%, 3/1/2017 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">4,690,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,947,340</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">EMT, 6.5%, 9/1/2026</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">2,615,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,949,615</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Prerefunded, 6.5%, 9/1/2026</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">4,385,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,946,105</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Tennessee, Energy Acquisition Corp., Gas Revenue,
                            Series A, 5.25%, 9/1/2019</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">7,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">7,264,110</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="6">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">22,418,190</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Texas 19.7%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Austin, TX, Sales &amp; Special Tax Revenue, Hotel
                            Occupancy Tax:</font></p>
                        </td>

                        <td colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">6.0%, 11/15/2013 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">3,190,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,346,916</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">6.0%, 11/15/2015 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">3,480,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,651,181</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">6.0%, 11/15/2016 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">3,625,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,803,314</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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 valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">3,965,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,947,990</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Carrollton, TX, Farmers Branch Independent School
                            District, School Building, 4.75%, 2/15/2032</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">5,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,911,150</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Dallas-Fort Worth, TX, Airport Revenue, International
                            Airport, AMT, Series A, 5.875%, 11/1/2016 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">6,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">6,872,320</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Granbury, TX, Independent School District, 5.0%,
                            8/1/2024</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">3,365,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,454,475</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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 valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">5,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">6,045,710</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Houston, TX, Airport Revenue, People Mover Project,
                            AMT, Series A, 5.5%, 7/15/2017 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">3,300,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,303,003</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Houston, TX, Port Authority Revenue, Airport Revenue,
                            AMT, Series A, 5.875%, 7/1/2014 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">3,960,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,156,258</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Red River, TX, School District Revenue Lease, St.
                            Mark's School Project, 6.0%, 8/15/2019</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">5,390,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,617,189</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Socorro, TX, Independent School District, 5.0%,
                            8/15/2025</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="77">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">5,135,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,258,394</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-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
            <!-- EEDocs PBStart--><PAGE><!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="586" border="0">
                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Tarrant County, TX, Cultural Educational Facilities
                            Finance Corp. Revenue, Texas Health Resources, Series A, 5.0%,
                            2/15/2026</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">4,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,013,360</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Tarrant County, TX, Hospital &amp; Healthcare
                            Revenue, Health Facilities Development Corp., 6.7%,
                            11/15/2030</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">4,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,940,640</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Texas, Industrial Development Revenue, Waste Disposal
                            Authority, AMT, Series A, 6.1%, 8/1/2024</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">2,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,061,820</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Texas, State General Obligation, College Student
                            Loans, AMT, 5.0%, 8/1/2021</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">4,015,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,015,482</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Texas, State Turnpike Authority, Dallas Northway
                            Revenue, 5.5%, 1/1/2015 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">14,605,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">14,974,506</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Texas, White Settlement, Independent School District,
                            5.125%, 8/15/2026</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">5,035,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,184,640</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="9">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">89,558,348</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p><b><font size="2">Virginia 0.2%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Virginia, Tobacco Settlement Financing Corp., Series
                            B-1, 5.0%, 6/1/2047</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,200,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">1,039,056</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p><b><font size="2">Washington 5.5%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Seattle, WA, Airport Revenue, AMT, Series B, 6.0%,
                            2/1/2013 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">7,355,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">8,037,765</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Seattle, WA, Special Assessment Revenue,
                            AMT:</font></p>
                        </td>

                        <td colspan="6">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series B, 5.5%, 9/1/2011 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">1,085,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,137,145</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series B, 5.75%, 9/1/2013 (a)</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">1,045,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,092,432</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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 valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,570,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,669,507</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Snohomish County, WA, Electric Revenue, Public
                            Utility District No. 1, 5.375%, 12/1/2024 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">3,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,135,960</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Washington, Electric Revenue, Energy Northwest
                            Columbia Generating, Series B, 6.0%, 7/1/2018 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">3,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,263,190</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Washington, Hospital &amp; Healthcare Revenue, Group
                            Health Coop of Puget Sound, 5.375%, 12/1/2017 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">1,500,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">1,571,730</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Washington, State General Obligation, Series A, 5.5%,
                            7/1/2016</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">4,835,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,988,946</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="9">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">24,896,675</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p><b><font size="2">West Virginia 4.5%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">West Virginia, Hospital &amp; Healthcare Revenue,
                            Hospital Finance Authority, Charleston Medical Center:</font></p>
                        </td>

                        <td colspan="6">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Series A, 6.75%, 9/1/2022</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">2,355,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,534,098</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">6.75%, 9/1/2030</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 24pt"><font size="1">395,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">417,839</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">West Virginia, Hospital Finance Authority, Charleston
                            Medical Center:</font></p>
                        </td>

                        <td colspan="6">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Prerefunded, 6.75%, 9/1/2022</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">9,645,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">10,558,092</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><font size="1">Prerefunded, 6.75%, 9/1/2030</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">3,605,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">3,946,285</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">West Virginia, Water &amp; Sewer Revenue, Water
                            Development Authority, Series B, 5.25%, 11/1/2023 (a)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">2,740,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">2,877,713</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="9">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">20,334,027</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p><b><font size="2">Wisconsin 2.2%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Badge, WI, Tobacco Asset Securitization Corp.,
                            6.125%, 6/1/2027</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">3,980,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">4,074,843</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><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 valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">6,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">6,012,180</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="9">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="7">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">10,087,023</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="9">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="5">
                            <p><b><font size="1">Total Municipal Bonds and Notes</font></b>
                            <font size="1">(Cost $646,124,828)</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="3">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">679,127,848</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="7">
                            <p><b><font size="2">Municipal Inverse Floating Rate Notes
                            23.1%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p><b><font size="2">Arizona 2.6%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Phoenix, AZ, Industrial Development Authority, Single
                            Family Mortgage Revenue, Series 2007-3, 5.625%, 5/1/2039 (c)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">11,250,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">11,910,849</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><i><font size="1">Trust: Arizona, Puttable Floating Option, Tax
                            Exempt Receipts, RITES-PA-1509, AMT,</font></i></p>

                            <p><i><font size="1">144A, 9.685%, 5/1/2039, Leverage Factor at
                            purchase date: 4 to 1</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p><b><font size="2">California 6.8%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">California, San Francisco Bay Area Toll Authority,
                            Toll Bridge Revenue, Series F, 5.0%, 4/1/2031 (c)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">10,000,000</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">10,284,200</font></p>
                        </td>
                    </tr>

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

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

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

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

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

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

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

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

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
            <!-- EEDocs PBStart--><PAGE><!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="586" border="0">
                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><i><font size="1">Trust: California, Bay Area Toll Authority, Toll
                            Bridge Revenue, Series 1962-5, 144A,</font></i></p>

                            <p><i><font size="1">7.49%, 4/1/2014, Leverage Factor at purchase date:
                            4 to 1</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">San Jose, CA, Redevelopment Agency Tax Allocation,
                            Merged Area Redevelopment Project, Series C, 5.0%, 8/1/2025 (a)
                            (c)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">10,000,000</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">10,295,200</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p style="MARGIN-LEFT: 0in; TEXT-INDENT: 0in"><i><font size="1">Trust:
                            California, Puttable Floating Option, Tax Exempt Receipts,
                            RITES-PA-1505, 144A, 7.22%, 8/1/2025, Leverage Factor at purchase date:
                            4 to 1</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">California, State General Obligation, 5.0%, 6/1/2023
                            (a) (c)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">10,000,000</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">10,426,550</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><i><font size="1">Trust: California, State General Obligation,
                            Series 1932, 144A, 7.49%, 6/1/2015,</font></i></p>

                            <p><i><font size="1">Leverage Factor at purchase date: 4 to
                            1</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="10">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">31,005,950</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="9">
                            <p><b><font size="2">Illinois 4.0%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Chicago, IL, General Obligation, Series A, 5.0%,
                            1/1/2024 (a) (c)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">10,360,000</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">10,692,427</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><i><font size="1">Trust: Chicago, IL, UBS Municipal (CRVS), Various
                            States, 144A, 7.46%, 1/1/2024,</font></i></p>

                            <p><i><font size="1">Leverage Factor at purchase date: 4 to
                            1</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Aurora, IL, Single Family Mortgage Revenue, Series C,
                            5.5%, 6/1/2045 (c)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">7,000,000</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">7,356,650</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><i><font size="1">Trust: Illinois, Puttable Floating Option, Tax
                            Exempt Receipts, RITES-PA-1499, 144A,</font></i></p>

                            <p><i><font size="1">AMT, 9.1%, 6/1/2045, Leverage Factor at purchase
                            date: 4 to 1</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="10">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">18,049,077</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="9">
                            <p><b><font size="2">Nevada 2.2%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Henderson, NV, Health Care Facility Revenue, Catholic
                            Healthcare West, Series B, 5.25%, 7/1/2031 (c)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">10,000,000</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">9,997,200</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><i><font size="1">Trust: Nevada, Puttable Floating Option, Tax
                            Exempt Receipts, RITES-PA-1494, 144A,</font></i></p>

                            <p><i><font size="1">8.19%, 7/1/2031, Leverage Factor at purchase date:
                            4 to 1</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="9">
                            <p><b><font size="2">New York 5.4%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New York, State Dormitory Authority Revenues, State
                            Supported Debt, University Dormitory Facilities, 5.0%, 7/1/2025
                            (c)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 0.25in"><font size="1">5,425,000</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">5,601,291</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><i><font size="1">Trust: New York, State Dormitory Authority
                            Revenues, Secondary Issues, Series 1971-1,</font></i></p>

                            <p><i><font size="1">144A, 7.339%, 7/1/2027, Leverage Factor at
                            purchase date: 4 to 1</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New York, State Dormitory Authority Revenues, State
                            Supported Debt, University Dormitory Facilities, 5.0%, 7/1/2027
                            (c)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 17.25pt"><font size="1">8,080,000</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">8,303,856</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><i><font size="1">Trust: New York, State Dormitory Authority
                            Revenues, Secondary Issues, Series 1971-2,</font></i></p>

                            <p><i><font size="1">144A, 7.34%, 7/1/2027, Leverage Factor at purchase
                            date: 4 to 1</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">New York, State Dormitory Authority, State Personal
                            Income Tax Revenue, Series A, 5.0%, 3/15/2024 (c)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">10,000,000</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <font size="1">10,419,600</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><i><font size="1">Trust: New York, State Dormitory Authority
                            Revenues, Secondary Issues, Series 1955-3,</font></i></p>

                            <p><i><font size="1">144A, 7.43%, 3/15/2015,Leverage Factor at purchase
                            date: 4 to 1</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="10">
                            <p></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="8">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">24,324,747</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="9">
                            <p><b><font size="2">Texas 2.1%</font></b></p>
                        </td>

                        <td width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><font size="1">Texas, Municipal Gas Acquisition &amp; Supply Corp.
                            I, Gas Supply Revenue, Series B, 4.141%**, 12/15/2017 (c)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-INDENT: 13.5pt"><font size="1">10,000,000</font></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">9,718,300</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" width="384">
                            <p><i><font size="1">Trust: Texas, Municipal Gas Acquisition &amp;
                            Supply Corp. I, Gas Supply Revenue,</font></i></p>

                            <p><i><font size="1">RITES-PA-1448, 144A, 3.992%, 12/15/2017, Leverage
                            Factor at purchase date: 2 to 1</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: right" align="right">&nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="10">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="5">
                            <p><b><font size="1">Total Municipal Inverse Floating Rate
                            Notes</font></b> <font size="1">(Cost $106,194,584)</font></p>
                        </td>

                        <td valign="bottom" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="4">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">105,006,123</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="3">
                            <p style="TEXT-ALIGN: center" align="center"><b><font size="1">%
                            of</font></b><br>
                            <b><font size="1">Net Assets</font></b></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: center" align="center">&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p style="TEXT-ALIGN: center" align="center"><b><font size="1">Value
                            ($)</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="10">
                            <p></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="2">
                            <p><b><font size="1">Total Investment Portfolio</font></b>
                            <font size="1">(Cost $752,319,412)</font></p>
                        </td>

                        <td valign="bottom" colspan="4">
                            <p style="TEXT-INDENT: 45pt"><font size="1">172.6</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="3">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">784,133,971</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="2">
                            <p><b><font size="1">Other Assets and Liabilities, Net</font></b></p>
                        </td>

                        <td valign="bottom" colspan="4">
                            <p style="TEXT-INDENT: 46.5pt"><font size="1">(14.3)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="3">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">(64,915,650)</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="2">
                            <p><b><font size="1">Preferred Shares, at Redemption
                            Value</font></b></p>
                        </td>

                        <td valign="bottom" colspan="4">
                            <p style="TEXT-INDENT: 46.5pt"><font size="1">(58.3)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="3">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">(265,000,000)</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="10">
                            <p style="TEXT-ALIGN: right" align="right"></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="2">
                            <p><b><font size="1">Net Assets Applicable to Common
                            Shareholders</font></b></p>
                        </td>

                        <td valign="bottom" colspan="4">
                            <p style="TEXT-INDENT: 45pt"><font size="1">100.0</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="3">
                            <p style="TEXT-ALIGN: right" align="right">
                            <b><font size="1">454,218,321</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="top" width="19">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="bottom" colspan="9">
                            <p><i><font size="1">For information on the Fund&rsquo;s policies
                            regarding the valuation of investments and other significant accounting
                            policies, please refer to the Fund&rsquo;s most recent semi-annual or
                            annual financial statements.</font></i></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="top" width="19">
                            <p><i><font size="1">*</font></i></p>
                        </td>

                        <td valign="bottom" colspan="9">
                            <p><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
                            rate as of August 31, 2007.</font></i></p>
                        </td>
                    </tr>

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

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

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

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

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

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

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

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

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

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
            <!-- EEDocs PBStart--><PAGE><!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="586" border="0">
                    <tr style="page-break-inside: avoid">
                        <td valign="top" width="19">
                            <p><i><font size="1">**</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p><i><font size="1">Floating rate notes are securities whose yields
                            vary with a designated market index or market rate, such as the
                            coupon-equivalent of the US Treasury Bill rate. These securities are
                            shown at their current rate as of August 31, 2007.</font></i></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="top" width="19">
                            <p><i><font size="1">(a)</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p><i><font size="1">Bond is insured by one of these
                            companies:</font></i></p>
                        </td>
                    </tr>

                    <tr style="HEIGHT: 3.05pt; page-break-inside: avoid">
                        <td style="HEIGHT: 3.05pt" valign="top" width="19" rowspan="5">
                            <p>&nbsp;</p>
                        </td>

                        <td style="HEIGHT: 3.05pt" valign="bottom" width="283">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <i><b><font size="1">Insurance Coverage</font></b></i></p>
                        </td>

                        <td style="HEIGHT: 3.05pt" valign="bottom" width="283">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                            <i><b><font size="1">As a % of Total Investment
                            Portfolio</font></b></i></p>
                        </td>
                    </tr>

                    <tr style="HEIGHT: 3pt; page-break-inside: avoid">
                        <td style="HEIGHT: 3pt" valign="bottom" width="283">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <i><font size="1">Ambac Financial Group, Inc.</font></i></p>
                        </td>

                        <td style="HEIGHT: 3pt" valign="bottom" width="283">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                            <i><font size="1">14.6</font></i></p>
                        </td>
                    </tr>

                    <tr style="HEIGHT: 3pt; page-break-inside: avoid">
                        <td style="HEIGHT: 3pt" valign="bottom" width="283">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <i><font size="1">Financial Guaranty Insurance Company</font></i></p>
                        </td>

                        <td style="HEIGHT: 3pt" valign="bottom" width="283">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                            <i><font size="1">11.0</font></i></p>
                        </td>
                    </tr>

                    <tr style="HEIGHT: 3pt; page-break-inside: avoid">
                        <td style="HEIGHT: 3pt" valign="bottom" width="283">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <i><font size="1">Financial Security Assurance, Inc.</font></i></p>
                        </td>

                        <td style="HEIGHT: 3pt" valign="bottom" width="283">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                            <i><font size="1">14.8</font></i></p>
                        </td>
                    </tr>

                    <tr style="HEIGHT: 3pt; page-break-inside: avoid">
                        <td style="HEIGHT: 3pt" valign="bottom" width="283">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <i><font size="1">MBIA Corp.</font></i></p>
                        </td>

                        <td style="HEIGHT: 3pt" valign="bottom" width="283">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                            <i><font size="1">9.7</font></i></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="top" width="19">
                            <p><i><font size="1">(b)</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p><i><font size="1">Security incorporates a letter of credit from a
                            major bank.</font></i></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="top" width="19">
                            <p><i><font size="1">(c)</font></i></p>
                        </td>

                        <td valign="bottom" colspan="2">
                            <p><i><font size="1">Security forms part of the below tender option
                            bond trust. The principal amount and value shown take into account the
                            leverage factor.</font></i></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><i><font size="1">144A: Security exempt from registration under Rule
                            144A of the Securities Act of 1933. These securities may be resold in
                            transactions exempt from registration, normally to qualified
                            institutional buyers.</font></i></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><i><font size="1">AMT: Subject to alternative minimum
                            tax.</font></i></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><i><font size="1">CRVS: Custodial Residual and Variable
                            Securities</font></i></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><i><font size="1">ETM: Bonds bearing the description ETM (escrow to
                            maturity) are collateralized usually by US Treasury securities which
                            are held in escrow and used to pay principal and interest on bonds so
                            designated.</font></i></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><i><font size="1">Prerefunded: Bonds which are prerefunded are
                            collateralized usually 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></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td valign="bottom" colspan="3">
                            <p><i><font size="1">RITES: Residual Interest Tax Exempt
                            Security.</font></i></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="590" border="0">
                    <tr style="page-break-inside: avoid">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <b><font size="2">ITEM 2.</font></b></p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <b><font size="2">CONTROLS AND PROCEDURES</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -0.5in; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -0.5in; TEXT-ALIGN: left">
                            <font size="2">(a)
                            &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Chief
                            Executive and Financial Officers concluded that the Registrant&rsquo;s
                            Disclosure Controls and Procedures are effective based on the
                            evaluation of the Disclosure Controls and Procedures as of a date
                            within 90 days of the filing date of this report.</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 30.6pt; TEXT-INDENT: -30.6pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -0.5in; TEXT-ALIGN: left">
                            <font size="2">(b)
                            &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There have been
                            no changes in the registrant&rsquo;s internal control over financial
                            reporting that occurred during the registrant&rsquo;s last half-year
                            (the registrant&rsquo;s second fiscal half-year in the case of the
                            annual report) that has materially affected, or is reasonably likely to
                            materially affect, the registrant&rsquo;s internal controls over
                            financial reporting.</font></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 30.6pt; TEXT-INDENT: -30.6pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <b><font size="2">ITEM 3.</font></b></p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 30.6pt; TEXT-INDENT: -30.6pt; TEXT-ALIGN: left">
                            <b><font size="2">EXHIBITS</font></b></p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 30.6pt; TEXT-INDENT: -30.6pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr style="page-break-inside: avoid">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0.2pt; TEXT-ALIGN: left">
                            <font size="2">Certification pursuant to Rule 30a-2(a) under the
                            Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and
                            attached hereto as Exhibit 99.CERT.</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
            <!-- EEDocs PBStart--><PAGE><!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">SIGNATURES</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 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-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="192">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Registrant:</font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">DWS Municipal Income Trust</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="317" border="0">
                    <tr>
                        <td valign="top" nowrap width="192">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">By:</font></p>
                        </td>

                        <td valign="top" nowrap width="125">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <u><font size="2">/s/Michael G. Clark</font></u></p>
                        </td>
                    </tr>
                </table>
            </div>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="304" border="0">
                    <tr>
                        <td valign="top" nowrap width="192">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" nowrap width="112">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Michael G. Clark</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 1.5in; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            <font size="2">President</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="304" border="0">
                    <tr>
                        <td valign="top" nowrap width="192">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Date:</font></p>
                        </td>

                        <td valign="top" nowrap width="112">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">October 17, 2007</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 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-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="192">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Registrant:</font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">DWS Municipal Income Trust</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="317" border="0">
                    <tr>
                        <td valign="top" nowrap width="192">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">By:</font></p>
                        </td>

                        <td valign="top" nowrap width="125">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <u><font size="2">/s/Michael G. Clark</font></u></p>
                        </td>
                    </tr>
                </table>
            </div>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="304" border="0">
                    <tr>
                        <td valign="top" nowrap width="192">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" nowrap width="112">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Michael G. Clark</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 1.5in; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            <font size="2">President</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="304" border="0">
                    <tr>
                        <td valign="top" nowrap width="192">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Date:</font></p>
                        </td>

                        <td valign="top" nowrap width="112">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">October 17, 2007</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="300" border="0">
                    <tr>
                        <td valign="top" nowrap width="192">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">By:</font></p>
                        </td>

                        <td valign="top" nowrap width="108">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <u><font size="2">/s/Paul Schubert</font></u></p>
                        </td>
                    </tr>
                </table>
            </div>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="285" border="0">
                    <tr>
                        <td valign="top" nowrap width="192">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" nowrap width="93">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Paul Schubert</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 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-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
            <font size="2">&nbsp;</font></p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="304" border="0">
                    <tr>
                        <td valign="top" nowrap width="192">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Date:</font></p>
                        </td>

                        <td valign="top" nowrap width="112">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">October 17, 2007</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
            <font size="2">&nbsp;</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
            <font size="2">&nbsp;</font></p>
             <font size="2"></font>
        </div>
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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>certifications.htm
<DESCRIPTION>CERTIFICATIONS
<TEXT>
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<p style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><font COLOR="#454545"><B><font 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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<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <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: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>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>
</div>



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<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <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: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>2. </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, 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>
</div>



<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <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: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>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>
</div>



<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <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: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>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>
</div>



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<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="96" valign=top style='padding:6.0pt 0in 0in 0in'>
            <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>(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>
</div>



<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="96" valign=top style='padding:6.0pt 0in 0in 0in'>
            <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>(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>
</div>



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<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="96" valign=top style='padding:6.0pt 0in 0in 0in'>
            <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>(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>
</div>



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<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="96" valign=top style='padding:6.0pt 0in 0in 0in'>
            <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>
</div>



<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <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: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>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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<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="96" valign=top style='padding:6.0pt 0in 0in 0in'>
            <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>(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>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>
</div>



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<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="96" valign=top style='padding:6.0pt 0in 0in 0in'>
            <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 size=2>(b)</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 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>
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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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    <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>
</div>


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


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    <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 width="125" nowrap 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></table>
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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> </tr></table>
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<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>October 17, 2007</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-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:5pt; margin-top:0pt;text-align:center;'>
<font COLOR="#454545"><B><font 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: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>
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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>
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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 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>
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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-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>
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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: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>
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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: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/Paul Schubert</font></u></p> </td> </tr></table>
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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> </tr></table>
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<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; margin-left:2in; text-indent:-2in;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 17, 2007</font> </p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2in; text-indent:-2in;text-align:left;'><font size=2>&nbsp;</font></p>

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