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<SEC-DOCUMENT>0000088053-08-000438.txt : 20080428
<SEC-HEADER>0000088053-08-000438.hdr.sgml : 20080428
<ACCEPTANCE-DATETIME>20080428170344
ACCESSION NUMBER:		0000088053-08-000438
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080229
FILED AS OF DATE:		20080428
DATE AS OF CHANGE:		20080428
EFFECTIVENESS DATE:		20080428

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:		08781945

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	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>nq022908mit.htm
<DESCRIPTION>N-Q FILING - DWS MUNICIIPAL INCOME TRUST
<TEXT>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font COLOR="#4F4F4F"><font SIZE=2>UNITED STATES</font></font></p>

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

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

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

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

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

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

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

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

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

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

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

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font color="#4F4F4F"><u><font size=2>New York, NY  10154-0004</font></u></font></p>

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

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

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font color="#4F4F4F"><u><font size=2>New York, NY  10154-0004</font></u></font></p>

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

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

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

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font color="#4F4F4F"><font size=2>Date of reporting period:</font><u><font size=2> 02/29/08</font></u></font></p>

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

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

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


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse; '>
    <tr >
        <td width="388" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=5>Investment Portfolio</font></p> </td>
        <td width="208" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>as of February 29, 2008  (Unaudited)  </font></b></p> </td> </tr></table>
</div>

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

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

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

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


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=center style='text-align:center;page-break-after:avoid'><b><font size=1>Principal</font></b><br> <b><font size=1>Amount ($)</font></b></p> </td>
        <td width="19" valign=bottom >
            <p  align=center style='text-align:center'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=center style='text-align:center'><b><font size=1>Value ($)</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="5" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Municipal Bonds and Notes 154.3%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Alabama 3.7%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>Camden, AL, Industrial Development Board Revenue, AMT, Series B, 6.375%, 12/1/2024 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,020,340</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>Huntsville, AL, Hospital &amp; Healthcare Revenue, Health Care Authority, Series A, 5.75%, 6/1/2031 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>5,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,960,405</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Huntsville, AL, Water &amp; Sewer Revenue, AMT, 5.75%, 10/1/2011 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>8,560,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>9,041,158</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="5" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>16,021,903</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Arizona 2.3%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="2" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>7,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>7,629,790</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Arizona, Salt Verde Financial Corp., Gas Revenue, 5.5%, 12/1/2029 </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>2,400,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,179,296</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="5" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>9,809,086</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-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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

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


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>California 20.8%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>California, Health Facilities Financing Authority Revenue, Sutter Health, Series A, 5.0%, 11/15/2042 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>2,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,778,140</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>California, Special Assessment Revenue, Golden State Tobacco Securitization Corp.:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A-1, 5.0%, 6/1/2033  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>7,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,795,160 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, 5.0%, 6/1/2038 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,500,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,302,750 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series B, 5.625%, 6/1/2038  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>7,080,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>7,679,322 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series 2003-A-1, 6.75%, 6/1/2039  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>11,730,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>13,345,690 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>California, State General Obligation:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>4.5%, 10/1/2029  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>15,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>13,290,600 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series 2, 5.0%, 9/1/2019  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>4,385,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>4,424,421 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>5.0%, 12/1/2020  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>4,600,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>4,595,768 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>5.0%, 11/1/2027  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>3,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,858,940 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>5.0%, 6/1/2028  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>3,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,863,710 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>5.125%, 4/1/2024  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>4,400,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>4,252,424 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>5.25%, 12/1/2021  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>10,215,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>10,274,145 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>5.25%, 4/1/2030  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:24.0pt'><font size=1>110,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>106,502 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>2,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,568,675</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>5,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,147,600</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Long Beach, CA, Bond Finance Authority, Natural Gas Purchased Revenue, Series A, 5.5%, 11/15/2030 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>5,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>4,581,750</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Los Angeles County, CA, Multi-Family Mortgage Revenue, Valencia Housing Project, Series C, 2.65% *, 4/1/2031 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,000,000</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Northern California, Tobacco Securitization Authority, Tobacco Settlement Revenue, Series A-1, 5.375%, 6/1/2038 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>3,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,562,390</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Southern California, Public Power Authority, Natural Gas Project Revenue, Project No. 1, Series A, 5.25%, 11/1/2026 </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>1,155,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,073,088</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>90,501,075</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Colorado 4.9%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Colorado, Hospital &amp; Healthcare Revenue, Portercare Adventist Health Project, 6.5%, 11/15/2031 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,122,130</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Colorado, Hospital &amp; Healthcare Revenue, Poudre Valley Health Facilities:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, 5.5%, 12/1/2017 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>6,145,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>6,483,897 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, 6.0%, 12/1/2015 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>5,705,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>6,068,123 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, 6.0%, 12/1/2016 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,127,300 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Colorado, Single Family Housing Revenue, AMT, Series B2, 7.25%, 10/1/2031 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:23.25pt'><font size=1>205,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>218,188</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Denver, CO, Airport Revenue, AMT, Series A, 6.0%, 11/15/2014 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>5,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,233,200</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>21,252,838</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>District of Columbia 8.7%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>District of Columbia, ETM, Series A, Prerefunded, 5.5%, 6/1/2014 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:23.25pt'><font size=1>640,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>664,563</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>District of Columbia, Core City General Obligation, Series B, 5.5%, 6/1/2011 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>20,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>21,447,000</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>District of Columbia, General Obligation:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Prerefunded, Series A-2005, 5.25%, 6/1/2027 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,585,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,628,971 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A-2005, 5.25%, 6/1/2027 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>8,245,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>8,256,461 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>District of Columbia, Howard University Revenue, Series A, 5.0%, 10/1/2023 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>2,810,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,763,579</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>District of Columbia, State General Obligation, Series A, 5.5%, 6/1/2014 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>1,860,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,927,406</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>37,687,980</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Florida 4.4%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Dade County, FL, Special Assessment Revenue:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series B, Prerefunded, Zero Coupon, 10/1/2022 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>7,735,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,260,535 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series B, Prerefunded, Zero Coupon, 10/1/2024 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>16,955,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>6,294,883 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>939,530</font></p> </td> </tr>
    <tr>
        <td width="19" ></td>

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

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

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

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

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

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

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

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

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

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


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Miami-Dade County, FL, Transportation/Tolls Revenue, Expressway Authority:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>6.0%, 7/1/2013 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>1,665,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,772,576 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>6.0%, 7/1/2014 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>1,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,064,610 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Orange County, FL, Health Facilities Authority Revenue, Orlando Regional Healthcare System, 5.75%, 12/1/2032 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,097,590</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>2,850,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,060,871</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><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 width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>2,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,823,820</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>19,314,415</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Georgia 3.5%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Atlanta, GA, Water &amp; Wastewater Revenue, Water Utilities Improvements, 5.0%, 11/1/2024 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>4,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,946,320</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Georgia, Main Street Natural Gas, Inc., Gas Project Revenue:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, 5.0%, 3/15/2022  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>7,340,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>6,854,459 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Series A, 5.5%, 9/15/2027  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in;page-break-after:avoid'><font size=1>5,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>4,351,300 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>15,152,079</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Hawaii 4.7%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Hawaii, Airport System Revenue, AMT, Series B, 6.5%, 7/1/2013 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>8,800,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>9,289,368</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>2,195,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,223,250</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Hawaii, Port Authority Revenue, AMT:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, 6.0%, 7/1/2011 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,950,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,142,664 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, 6.0%, 7/1/2012 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>3,135,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,336,079 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Hawaii, State General Obligation, Series CT, Prerefunded, 5.75%, 9/1/2014 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>2,310,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,433,169</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>20,424,530</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Idaho 0.0%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Idaho, Single Family Housing Revenue, AMT, Series C2, 6.9%, 7/1/2025 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:27.75pt'><font size=1>50,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>50,039</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Illinois 8.8%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Chicago, IL, Airport Revenue, O'Hare International Airport, AMT, 5.5%, 1/1/2014 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>10,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>10,364,800</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Chicago, IL, Core City General Obligation:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, Prerefunded, 6.0%, 1/1/2014 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,085,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,248,318 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, Prerefunded, 6.125%, 1/1/2015 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,162,260 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, 6.125%, 1/1/2016 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,162,260 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Chicago, IL, Other General Obligation, Neighborhoods Alive 21 Project:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, Prerefunded, 6.0%, 1/1/2015 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>1,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,078,330 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, 6.0%, 1/1/2017 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>1,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,078,330 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Chicago, IL, Water Revenue, Series A, 5.0%, 11/1/2020 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>3,615,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,635,714</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Illinois, Development Finance Authority, Hospital Revenue, Adventist Health System, Sunbelt Obligation, 5.5%, 11/15/2020 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>2,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,632,275</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>4,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>4,199,320</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Illinois, Higher Education Revenue, DePaul University, Educational Facilities Authority:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Prerefunded, 5.625%, 10/1/2013 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,695,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,896,586 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Prerefunded, 5.625%, 10/1/2015 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>1,710,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,837,908 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Illinois, Sales &amp; Special Tax Revenue, Metropolitan Pier &amp; Exposition Authority:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, ETM, 5.5%, 6/15/2017 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>1,955,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,174,234 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Series A, 5.5%, 6/15/2017 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in;page-break-after:avoid'><font size=1>1,555,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,691,280 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>38,161,615</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Indiana 1.2%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Indiana, Hospital &amp; Healthcare Revenue, Health Facilities Authority, 5.5%, 11/1/2031 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>5,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>5,440,600</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Kansas 0.8%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Overland Park, KS, Industrial Development Revenue, Series A, 7.375%, 1/1/2032 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>3,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>3,355,950</font></b></p> </td> </tr>
    <tr>
        <td width="19" ></td>

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

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

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

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

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

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

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

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

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

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


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Kentucky 1.5%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Kentucky, Economic Development Finance Authority, Health System Revenue, Norton Healthcare:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, Prerefunded, 6.5%, 10/1/2020  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:24.0pt'><font size=1>790,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>865,358 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, 6.5%, 10/1/2020  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>1,210,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,247,256 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, Prerefunded, 6.625%, 10/1/2028  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>3,130,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,438,242 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Series A, 6.625%, 10/1/2028  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:24.0pt;page-break-after:avoid'><font size=1>870,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>913,700 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>6,464,556</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Louisiana 0.5%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Louisiana, Electric Revenue, 5.75%, 1/1/2013 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>2,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>2,195,800</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Maine 1.5%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Maine, Hospital &amp; Healthcare Revenue, Series D, 5.7%, 7/1/2013 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:23.25pt'><font size=1>375,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>375,799</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Maine, Transportation/Tolls Revenue, 5.0%, 7/1/2017 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>6,165,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>6,259,078</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>6,634,877</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Maryland 0.9%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Maryland, Hospital &amp; Healthcare Revenue, University of Maryland Medical System, 6.75%, 7/1/2030 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>2,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,737,300</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Maryland, State Health &amp; Higher Educational Facilities Authority Revenue, Washington County Hospital, 5.75%, 1/1/2033 </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>1,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,365,540</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>4,102,840</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Massachusetts 3.7%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Massachusetts, Airport Revenue, AMT, Series B, 5.5%, 7/1/2009 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>8,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>8,250,640</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>5,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,000,000</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Massachusetts, Port Authority Revenue, AMT, Series B, 5.5%, 7/1/2015 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>3,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,072,930</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>16,323,570</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Michigan 2.3%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,457,685</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Michigan, Industrial Development Revenue:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>5.5%, 6/1/2018 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>3,425,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,593,784 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>5.75%, 6/1/2016 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in;page-break-after:avoid'><font size=1>4,640,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>4,893,669 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>9,945,138</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Minnesota 1.6%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Minneapolis &amp; St. Paul, MN, Airport Revenue, AMT, Series B, 6.0%, 1/1/2012 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>4,395,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>4,624,375</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Minneapolis &amp; St. Paul, MN, Port Authority Revenue, AMT, Series B, 5.625%, 1/1/2015 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>2,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,545,375</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>7,169,750</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Missouri 0.1%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Missouri, Hospital &amp; Healthcare Revenue, Lake of the Ozarks General Hospital, 6.5%, 2/15/2021 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:23.25pt'><font size=1>365,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>365,234</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Nevada 4.0%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Henderson, NV, Health Care Facility Revenue, Catholic Healthcare West, Series B, 5.25%, 7/1/2031 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>10,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>9,228,600</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>2,575,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,664,996</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Washoe County, NV, School District General Obligation, Prerefunded, 5.75%, 6/1/2014 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>5,450,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,724,735</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>17,618,331</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>New Jersey 10.9%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>New Jersey, Economic Development Authority Revenue, Cigarette Tax, 5.75%, 6/15/2034 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,090,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,004,184</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>5,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,920,700</font></p> </td> </tr>
    <tr>
        <td width="19" ></td>

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

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

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

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

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

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

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

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<!-- EEDocs PBStart-->
<HR noshade align="center" width="100%" size="2">
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>10,775,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>10,945,137</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,400,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,284,514</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>New Jersey, Resource Recovery Revenue, Tobacco Settlement Financing Corp., 5.75%, 6/1/2032 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>2,025,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,189,349</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>10,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>10,632,300</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>New Jersey, Tobacco Settlement Financing Corp., Series 1-A, 5.0%, 6/1/2041 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>800,040</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>6,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>6,204,000</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>New Jersey, Transportation/Tolls Revenue, Garden State Parkway Project, Prerefunded, 5.6%, 1/1/2017 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>8,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>8,469,280</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>47,449,504</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>New York 10.7%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Nassau County, NY, Hospital &amp; Healthcare, 6.0%, 8/1/2015 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>3,390,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,603,570</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Nassau County, NY, Industrial Development Agency Revenue, Continuing Care Retirement, Amsterdam at Harborside, Series C, 2.95% *, 1/1/2028, LaSalle Bank NA (b) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,000,000</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,629,840</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>10,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>10,141,200</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>New York, State Housing Finance Agency Revenue, 316 Eleventh Ave. Housing, Series A, AMT, 2.82% *, 5/15/2041 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>3,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,000,000</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>New York, Tobacco Settlement Financing Corp., Series B-1C, 5.5%, 6/1/2019 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>5,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,741,395</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>New York, Transportation/Tolls Revenue:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Prerefunded, 5.625%, 4/1/2013 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>5,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,201,850 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Prerefunded, 5.75%, 4/1/2014 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,083,400 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>New York, NY, General Obligation, Series D, 5.0%, 11/1/2024 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>7,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>7,268,550</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>New York, NY, Sales &amp; Special Tax Revenue, Transitional Finance Authority:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series B, Prerefunded, 6.125%, 11/15/2014  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>1,645,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,773,178 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series B, 6.125%, 11/15/2014  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:24.0pt'><font size=1>355,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>382,662 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series B, Prerefunded, 6.125%, 11/15/2015  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>3,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,233,100 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Niagara Falls, NY, School District General Obligation, 5.6%, 6/15/2014 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>1,180,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,310,886</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>46,369,631</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>North Carolina 1.8%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Charlotte, NC, Airport Revenue, AMT:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series B, 5.75%, 7/1/2013 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,480,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,566,651 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series B, 5.875%, 7/1/2014 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>1,140,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,181,975 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>North Carolina, Electric Revenue, Municipal Power Agency:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series C, 5.375%, 1/1/2017  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>1,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,023,200 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Series B, 6.375%, 1/1/2013  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in;page-break-after:avoid'><font size=1>3,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,176,700 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>7,948,526</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>North Dakota 0.9%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Grand Forks, ND, Hospital &amp; Healthcare Revenue, Altru Health Care System, 7.125%, 8/15/2024 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>3,400,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>3,752,070</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Ohio 3.2%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Buckeye, OH, Tobacco Settlement Financing Authority, Series A-2, 5.875%, 6/1/2030 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>8,820,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>8,253,668</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Green Springs, OH, Senior Care Revenue, St. Francis Health Care Center Project, Series A, 7.125%, 5/15/2025 </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>6,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,494,560</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>13,748,228</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Oregon 2.5%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,079,490</font></p> </td> </tr>
    <tr>
        <td width="19" ></td>

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

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

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

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

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

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

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

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<HR noshade align="center" width="100%" size="2">
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,079,490</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Portland, OR, Special Assessment Revenue, Downtown Waterfront:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, 5.625%, 6/15/2015 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>3,100,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,265,447 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, 5.75%, 6/15/2018 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,225,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,342,502 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Series A, 5.75%, 6/15/2019 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in;page-break-after:avoid'><font size=1>2,820,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,968,924 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>10,735,853</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Pennsylvania 1.7%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>2,570,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,693,437</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Philadelphia, PA, Gas Works Revenue, Series A-1, 5.0%, 9/1/2029 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>5,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>4,759,600</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>7,453,037</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Puerto Rico 0.2%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Commonwealth of Puerto Rico, Public Improvement:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Prerefunded, Series A, 5.25%, 7/1/2030  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:24.0pt'><font size=1>620,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>678,832 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Series A, 5.25%, 7/1/2030  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:24.0pt;page-break-after:avoid'><font size=1>380,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>352,636 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>1,031,468</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Rhode Island 0.9%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Rhode Island, Special Assessment Revenue, Series A, 6.125%, 6/1/2032 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>4,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>3,859,680</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>South Carolina 3.5%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Greenwood County, SC, Hospital &amp; Healthcare Revenue, South Carolina Memorial Hospital, 5.5%, 10/1/2031 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,435,050</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series C, Prerefunded, 7.0%, 8/1/2030  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>4,825,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,647,855 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series C, 7.0%, 8/1/2030  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:24.0pt'><font size=1>595,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>694,877 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, Prerefunded, 7.375%, 12/15/2021  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,266,480 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>South Carolina, Tobacco Settlement Revenue Management Authority:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series B, 6.0%, 5/15/2022  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,000,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,000,520 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Series B, 6.375%, 5/15/2030  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in;page-break-after:avoid'><font size=1>3,085,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,976,470 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>15,021,252</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>South Dakota 0.3%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>South Dakota, State Health &amp; Educational Facilities Authority Revenue, Sanford Health, 5.0%, 11/1/2027 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>1,355,280</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Tennessee 4.9%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Clarksville, TN, Natural Gas Acquisition Corp., Gas Revenue, 5.0%, 12/15/2021 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>2,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,747,780</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Memphis-Shelby County, TN, Airport Revenue, AMT, Series D, 6.25%, 3/1/2017 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>4,690,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>4,850,023</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font SIZE=1>EMT, 6.5%, 9/1/2026  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,615,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,957,068 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Prerefunded, 6.5%, 9/1/2026  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>4,385,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>4,958,602 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Tennessee, Energy Acquisition Corp., Gas Revenue, Series A, 5.25%, 9/1/2019 </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>7,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>6,824,860</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="6" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>21,338,333</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Texas 19.1%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Austin, TX, Sales &amp; Special Tax Revenue, Hotel Occupancy Tax:</font></p> </td>
        <td   colspan="5">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>6.0%, 11/15/2013 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>3,190,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,360,346 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>6.0%, 11/15/2015 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>3,480,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,665,832 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>6.0%, 11/15/2016 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>3,625,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,818,575 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>3,965,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,748,392</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>6,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>6,732,830</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>5,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>6,065,675</font></p> </td> </tr>
    <tr>
        <td width="19" ></td>

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

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

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

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

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

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

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

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<!-- EEDocs PBStart-->
<HR noshade align="center" width="100%" size="2">
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Houston, TX, Airport Revenue, People Mover Project, AMT, Series A, 5.5%, 7/15/2017 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>3,300,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,302,673</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Houston, TX, Port Authority Revenue, Airport Revenue, AMT, Series A, 5.875%, 7/1/2014 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>3,960,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>4,156,495</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>5,390,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,704,668</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>4,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,691,920</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Tarrant County, TX, Hospital &amp; Healthcare Revenue, Health Facilities Development Corp., 6.7%, 11/15/2030 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>4,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>4,969,170</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Texas, Industrial Development Revenue, Waste Disposal Authority, AMT, Series A, 6.1%, 8/1/2024 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>2,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,932,560</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Texas, Municipal Gas Acquisition &amp; Supply Corp I, Gas Supply Revenue, Series B, 3.894% **, 12/15/2017 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>10,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>8,317,500</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Texas, State General Obligation, College Student Loans, AMT, 5.0%, 8/1/2021 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>4,015,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,890,455</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Texas, State Turnpike Authority, Dallas Northway Revenue, 5.5%, 1/1/2015 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>14,605,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>14,922,805</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Texas, White Settlement, Independent School District, 5.125%, 8/15/2026 </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>5,035,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,014,658</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="9" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>83,294,554</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Virginia 0.2%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Virginia, Tobacco Settlement Financing Corp., Series B-1, 5.0%, 6/1/2047 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,200,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>949,632</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Washington 6.8%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Seattle, WA, Airport Revenue, AMT, Series B, 6.0%, 2/1/2013 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>7,355,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>7,980,469</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Seattle, WA, Special Assessment Revenue, AMT:</font></p> </td>
        <td   colspan="6">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series B, 5.5%, 9/1/2011 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>1,085,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,128,216 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series B, 5.75%, 9/1/2013 (a) </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>1,045,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,091,408 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,570,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,677,357</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Snohomish County, WA, Electric Revenue, Public Utility District No. 1, 5.375%, 12/1/2024 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>3,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,160,680</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Washington, Electric Revenue, Energy Northwest Columbia Generating, Series B, 6.0%, 7/1/2018 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>3,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,238,500</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>1,500,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>1,538,985</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Washington, State General Obligation, Series A, 5.5%, 7/1/2016 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>4,835,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,007,464</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Washington, State Health Care Facilities Authority Revenue, Series C, 5.375%, 8/15/2028 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>5,240,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>4,868,484</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="9" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>29,691,563</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>West Virginia 4.7%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Series A, 6.75%, 9/1/2022  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>2,355,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,577,218 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>6.75%, 9/1/2030  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:24.0pt'><font size=1>395,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>432,272 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>West Virginia, Hospital Finance Authority, Charleston Medical Center:</font></p> </td>
        <td   colspan="6">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Prerefunded, 6.75%, 9/1/2022  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>9,645,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>10,555,102 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><font size=1>Prerefunded, 6.75%,  9/1/2030    </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>3,605,000 </font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,945,168 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>West Virginia, Water &amp; Sewer Revenue, Water Development Authority, Series B, 5.25%, 11/1/2023 (a) </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>2,740,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>2,778,250</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="9" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>20,288,010</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Wisconsin 2.1%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Badge, WI, Tobacco Asset Securitization Corp., 6.125%, 6/1/2027 </font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt'><font size=1>3,930,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>3,931,729</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Wisconsin, Hospital &amp; Healthcare Revenue, Health &amp; Education Facilities Authority, Aurora Health Care, Inc., Series A, 5.6%, 2/15/2029 </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>6,000,000</font></p> </td>
        <td width="19" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,424,480</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="9" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="7" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '><b><font size=1>9,356,209</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="9" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="5" valign=bottom >
            <p ><b><font size=1>Total Municipal Bonds and Notes</font></b><font size=1> (Cost $652,516,191)</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="3" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>671,635,036</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="7" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Municipal Inverse Floating Rate Notes 18.5%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Arizona 2.6%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Phoenix, AZ, Industrial Development Authority, Single Family Mortgage Revenue, AMT, Series 2007-3, 5.625%, 5/1/2039 (c)</font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>11,250,000</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>11,193,419</font></b></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-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<!-- EEDocs PBStart-->
<HR noshade align="center" width="100%" size="2">
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <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, 12.292%, 5/1/2039, Leverage Factor at purchase date: 4 to 1</font></i></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  ><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="9" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>California 6.7%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>10,000,000</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>9,641,450</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <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>9.23%, 4/1/2031, Leverage Factor at purchase date: 4 to 1</font></i></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>10,000,000</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>9,480,300</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p  style='margin-left:0in;text-indent:0in'><i><font size=1>Trust: California, Puttable Floating Option, Tax Exempt Receipts, RITES-PA-1505, 144A, 2.15%, 8/1/2025, Leverage Factor at purchase date: 4 to 1 </font></i><i></i></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>California, State General Obligation, 5.0%, 6/1/2023 (a) (c)</font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:15.75pt;page-break-after:avoid'><font size=1>10,000000</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>10,003,350</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><i><font size=1>Trust: California, State General Obligation, Series 1932, 144A, 9.23%, 6/1/2023, </font></i></p>
<p ><i><font size=1>Leverage Factor at purchase date: 4 to 1 </font></i></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="10" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>29,125,100</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="9" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>Illinois 3.9%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p ><font size=1>Chicago, IL, General Obligation, Series A, 5.0%, 1/1/2024 (a) (c)</font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:13.5pt'><font size=1>10,360,000</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>10,035,188</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <p ><i><font size=1>Trust: Chicago, IL, UBS Municipal (CRVS), Various States, 144A, 2.96%, 1/1/2024, </font></i></p>
<p ><i><font size=1>Leverage Factor at purchase date: 4 to 1</font></i></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  ><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>Aurora, IL, Single Family Mortgage Revenue, AMT, Series C, 5.5%, 6/1/2045 (c)   </font></p> </td>
        <td width="10" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:17.25pt;page-break-after:avoid'><font size=1>6,940,000</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>6,921,085</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <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, 11.26%, 6/1/2045, Leverage Factor at purchase date: 4 to 1</font></i></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  ><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="10" valign=bottom >
            <p  style='page-break-after:avoid'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>16,956,273</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="9" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=2>New York 5.3%</font></b></p> </td>
        <td  width="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>5,425,000 </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>5,325,975 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <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, 10.039%, 7/1/2025, Leverage Factor at purchase date: 4 to 1</font></i><font size=1>  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:.25in'><font size=1>8,080,000 </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>7,864,668 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <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, 10.04%, 7/1/2027, Leverage Factor at purchase date: 4 to 1</font></i><font size=1>  </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <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 width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  style='text-indent:13.5pt;page-break-after:avoid'><font size=1>10,000,000 </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>10,012,350 </font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="384" valign=bottom >
            <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, 9.23%, 3/15/2024,Leverage Factor at purchase date: 4 to 1</font></i><font size=1>   </font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="10" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="8" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '><b><font size=1>23,202,993</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="10" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="5" valign=bottom >
            <p ><b><font size=1>Total Municipal Inverse Floating Rate Notes</font></b><font size=1> (Cost $85,500,599)</font></p> </td>
        <td width="19" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="4" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>80,477,785</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="3" valign=bottom >
            <p  style='page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="3" valign=bottom >
            <p  align=center style='text-align:center;page-break-after:avoid'><b><font size=1>% of</font></b><br> <b><font size=1>Net Assets</font></b></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=center style='text-align:center'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom >
            <p  align=center style='text-align:center'><b><font size=1>Value ($)</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="10" valign=bottom >
            <p  style='page-break-after:avoid'>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=1>Total Investment Portfolio</font></b><font size=1> (Cost $738,016,790) &#134;</font></p> </td>
        <td  colspan="4" valign=bottom >
            <p  style='text-indent:45.0pt;page-break-after:avoid'><font size=1>172.8</font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="3" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>752,112,821</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=1>Other Assets and Liabilities, Net</font></b></p> </td>
        <td  colspan="4" valign=bottom >
            <p  style='text-indent:46.5pt;page-break-after:avoid'><font size=1>(11.9)</font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="3" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>(51,797,088)</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=1>Preferred Shares, at Redemption Value</font></b></p> </td>
        <td  colspan="4" valign=bottom >
            <p  style='text-indent:46.5pt;page-break-after:avoid'><font size=1>(60.9)</font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="3" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>(265,000,000)</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="10" valign=bottom >
            <p  align=right style='text-align:right;page-break-after:avoid; '>
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       </p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="2" valign=bottom >
            <p  style='page-break-after:avoid'><b><font size=1>Net Assets Applicable to Common Shareholders</font></b></p> </td>
        <td  colspan="4" valign=bottom >
            <p  style='text-indent:45.0pt;page-break-after:avoid'><font size=1>100.0</font></p> </td>
        <td width="10" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="3" valign=bottom >
            <p  align=right style='text-align:right'><b><font size=1>435,315,733</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td  colspan="9" valign=bottom >
            <p ><i><font size=1>For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.</font></i></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p ><i><font size=1>&#134;</font></i></p> </td>
        <td  colspan="9" valign=bottom >
            <p ><i><font size=1>The cost for federal income tax purposes was $737,352,687.  At February 29, 2008, net unrealized appreciation for all securities based on tax cost was $14,760,134.  This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $32,802,336 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $18,042,202.</font></i></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p ><i><font size=1>*</font></i></p> </td>
        <td  colspan="9" valign=bottom >
            <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 February 29, 2008.</font></i></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p ><i><font size=1>**</font></i></p> </td>
        <td  colspan="9" valign=bottom >
            <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 February 29, 2008.</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-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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

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


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p ><i><font size=1>(a)</font></i></p> </td>
        <td  colspan="4" valign=bottom >
            <p ><i><font size=1>Bond is insured by one of these companies:</font></i></p>
<p ><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:13.5pt'>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="196" nowrap valign=bottom style=' border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><i><b><font size=1>Insurance Coverage</font></b></i><i></i></p> </td>
        <td width="114" nowrap valign=bottom style=' border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:13.5pt'>
            <p style='margin-left:0pt;text-indent:21.0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><i><b><font size=1>As a % of Total </font></b></i></p>
<p style='margin-left:0pt;text-indent:4.5pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><i><b><font size=1>Investment Portfolio</font></b></i><i></i></p> </td>
        <td  width="252">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='height:12.75pt; '>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="196" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><i><font size=1>Ambac Financial Group, Inc.</font></i><i></i></p> </td>
        <td width="114" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><i><font size=1>14.0</font></i><i></i></p> </td>
        <td  width="252">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='height:12.75pt; '>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="196" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><i><font size=1>Financial Guaranty Insurance Company</font></i><i></i></p> </td>
        <td width="114" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><i><font size=1>10.4</font></i><i></i></p> </td>
        <td  width="252">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='height:12.75pt; '>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="196" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><i><font size=1>Financial Security Assurance, Inc.</font></i><i></i></p> </td>
        <td width="114" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><i><font size=1>15.3</font></i><i></i></p> </td>
        <td  width="252">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='height:12.75pt; '>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="196" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><i><font size=1>MBIA Corp.</font></i><i></i></p> </td>
        <td width="114" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><i><font size=1>8.2</font></i><i></i></p> </td>
        <td  width="252">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='height:13.5pt'>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="196" nowrap valign=bottom style=' border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><i><font size=1>Radian</font></i><i></i></p> </td>
        <td width="114" nowrap valign=bottom style=' border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><i><font size=1>0.7</font></i><i></i></p> </td>
        <td  width="252">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="19" valign=top >
            <p ><i><font size=1>(b)</font></i></p> </td>
        <td  colspan="4" valign=bottom >
            <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 width="19" valign=top >
            <p ><i><font size=1>(c)</font></i></p> </td>
        <td  colspan="4" valign=bottom >
            <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  colspan="5" valign=bottom >
            <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  colspan="5" valign=bottom >
            <p ><i><font size=1>AMT: Subject to alternative minimum tax.</font></i></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="5" valign=bottom >
            <p ><i><font size=1>CRVS: Custodial Residual and Variable Securities</font></i></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td  colspan="5" valign=bottom >
            <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  colspan="5" valign=bottom >
            <p ><i><font size=1>Prerefunded: Bonds which are prerefunded are collateralized usually by US Treasury securities which are held in escrow and 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  colspan="5" valign=bottom >
            <p ><i><font size=1>RITES: Residual Interest Tax Exempt Security</font></i></p> </td> </tr>
    <tr>
        <td width="19" ></td>

        <td width="5" ></td>

        <td width="196" ></td>

        <td width="114" ></td>

        <td width="252" ></td> </tr> </table>
            </div>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><font size=1>The following is a summary of the inputs used as of February 29, 2008 in valuing the Fund&#146;s assets carried at fair value:</font></i></p>

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


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="332" style='margin-left:4.65pt;border-collapse:collapse'>
    <tr style='height:11.25pt'>
        <td width="205" valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><b><font size=1>Valuation Inputs</font></b></p> </td>
        <td width="127" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Investments in Securities at </font></b></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Value</font></b></p> </td> </tr>
    <tr style='height:11.25pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Level 1 - Quoted Prices</font></p> </td>
        <td width="127" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:11.25pt'>
            <p style='margin-left:0pt;text-indent:4.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$                                -   </font></p> </td> </tr>
    <tr style='height:11.25pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Level 2 - Other Significant</font></p> </td>
        <td width="127" nowrap rowspan=2 valign=bottom style='padding: 0in 5.4pt 0in 5.4pt;height:11.25pt'>
            <p style='margin-left:0pt;text-indent:8.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>752,112,821                                   </font></p> </td> </tr>
    <tr style='height:11.25pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Observable Inputs</font></p> </td> </tr>
    <tr style='height:11.25pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>Level 3 - Significant</font></p> </td>
        <td width="127" nowrap rowspan=2 valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:11.25pt'>
            <p style='margin-left:0pt;text-indent:72.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>-   </font></p> </td> </tr>
    <tr style='height:11.25pt'>
        <td width="205" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Unobservable Inputs</font></p> </td> </tr>
    <tr style='height:12.0pt'>
        <td width="205" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Total </font></b></p> </td>
        <td width="127" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>
            <p style='margin-left:0pt;text-indent:2.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><b><font size=1>$              752,112,821                               </font></b></p> </td> </tr></table>
</div>

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

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><font size=1>The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measurements (&#147;FAS 157"), effective December 1, 2007, which governs the application of generally accepted accounting principles that require fair value measurements of the Fund&#146;s assets and liabilities.  Fair value is an estimate of  the price the Fund would receive upon selling a security in a timely transaction to an independent buyer in the principal or most advantageous market of the security. FAS 157 established a three-tier hierarchy to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent
in a particular valuation technique used to measure fair value including such a pricing model and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity&#146;s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. </font></i></p>

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

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

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

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><font size=1>Various inputs are used in determining the value of the Fund&#146;s investments. These inputs are summarized in the three broad levels as follows:</font></i></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><i><font size=1>Level 1 &#150; quoted prices in active markets for identical securities</font></i></p> </td> </tr></table>
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    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><i><font size=1>Level 2 &#150; other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)</font></i></p> </td> </tr></table>
</div>



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        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><i><font size=1>Level 3 &#150; significant unobservable inputs (including the Fund&#146;s own assumptions in determining the fair value of investments)</font></i></p> </td> </tr></table>
</div>


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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><font size=1>For Level 1 inputs, the Fund uses unadjusted quoted prices in active markets for assets or liabilities with sufficient frequency and volume to provide pricing information as the most reliable evidence of fair value.  The Fund&#146;s Level 2 valuation techniques include inputs other than quoted prices within Level 1 that are observable for an asset or liability, either directly or indirectly.  Level 2 observable inputs may include quoted prices for similar assets and liabilities in active markets or quoted prices for identical or similar assets or liabilities in markets that are not active in which there are few transactions, the prices are not current, or price quotations vary substantially over time or among market participants.  Inputs that are observable for the asset or liability in Level 2 include such factors as interest rates, yield curves, prepayment speeds, credit risk, and default rates for
similar liabilities.  For Level 3 valuation techniques, the Fund uses unobservable inputs that reflect assumptions market participants would be expected to use in pricing the asset or liability. Unobservable inputs are used to measure fair value to the extent that observable inputs are not available and are developed based on the best information available under the circumstances.  In developing unobservable inputs, market participant assumptions are used if they are reasonably available without undue cost and effort.    </font></i></p>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><font size=1>The Fund may record changes to valuations based on the amount that might reasonably be expected to receive for a security upon its current sale consistent with the fair value measurement objective.  Each determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another.  Examples of such factors may include, but are not limited to the type of the security, the existence of any contractual restrictions on the security&#146;s disposition, the price and extent of public trading in similar securities of the issue or of comparable companies, quotations or evaluated prices from broker-dealers and/or pricing services, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company&#146;s financial statements, an evaluation of the forces that influence the issuer and the
market(s) in which the security is purchased and sold, and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination, and the movement of the market in which the security is normally traded.   Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value determined upon sale of those investments. </font></i></p>

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

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


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 2.</font></B></p> </td>
        <td width="494" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>CONTROLS AND PROCEDURES</font></B></p> </td> </tr>
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        <td width="96" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="494" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:.5in;text-indent:-.5in;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
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        <td width="96" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="494" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:.5in;text-indent:-.5in;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Chief Executive and Financial Officers concluded that the Registrant&#146;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 width="96" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="494" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:30.6pt;text-indent:-30.6pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="494" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:.5in;text-indent:-.5in;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There have been no changes in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal controls over financial reporting.</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="494" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:30.6pt;text-indent:-30.6pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 3.</font></B></p> </td>
        <td width="494" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:30.6pt;text-indent:-30.6pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>EXHIBITS</font></B></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="494" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:30.6pt;text-indent:-30.6pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
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        <td width="96" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="494" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:.2pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><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-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

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

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

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

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

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


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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>
        <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>
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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>
        <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=1>&nbsp;</font></p> </td>
        <td width="112" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Michael G. Clark</font></p> </td> </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>Date:</font></p> </td>
        <td width="97" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>April 16, 2008</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>

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

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

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


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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>
        <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>
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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>
        <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=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Michael G. Clark</font></p> </td> </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>Date:</font></p> </td>
        <td width="97" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>April 16, 2008</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>

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


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td width="108" 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/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>
        <td width="93" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Paul Schubert</font></p> </td> </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;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Date:&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;April 16, 2008</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>certifications.htm
<DESCRIPTION>CERTIFICATIONS
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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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        <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>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>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>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>3. </font></font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; </font></font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <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>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>(a)</font></font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </font></font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <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>
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        <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>
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        <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>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>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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        <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>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font 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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            <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>
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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>
        <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=1>&nbsp;</font></p> </td>
        <td width="112" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Michael G. Clark</font></p> </td> </tr></table>
</div>

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

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


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date:</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>April 16, 2008</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>
<!-- EEDocs PBStart-->
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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: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>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>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>
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        <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>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>4.</font></font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font color="#454545"><font size=2>The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </font></font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <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>



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        <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>



<div align=left>

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        <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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        <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>
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        <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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            <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>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font 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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            <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>
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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>
        <td width="108" 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/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>April 16, 2008</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>

<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>


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