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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000891804-10-004333.txt : 20100827
<SEC-HEADER>0000891804-10-004333.hdr.sgml : 20100827
<ACCEPTANCE-DATETIME>20100827140505
ACCESSION NUMBER:		0000891804-10-004333
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100630
FILED AS OF DATE:		20100827
DATE AS OF CHANGE:		20100827
EFFECTIVENESS DATE:		20100827

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NUVEEN NEW YORK DIVIDEND ADVANTAGE MUNICIPAL FUND
		CENTRAL INDEX KEY:			0001074769
		IRS NUMBER:				364270661
		STATE OF INCORPORATION:			MA

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-09135
		FILM NUMBER:		101043236

	BUSINESS ADDRESS:	
		STREET 1:		C/O JOHN NUVEEN & CO INC
		STREET 2:		333 WEST WACKER DRIVE
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		8002578787

	MAIL ADDRESS:	
		STREET 1:		JOHN NUVEEN & CO INC
		STREET 2:		333 WEST WACKER DRIVE
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>nq2.htm
<DESCRIPTION>NAN_NQ
<TEXT>
<html>
<head>
    <title>nq2.htm</title>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">UNITED
STATES</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SECURITIES
AND EXCHANGE COMMISSION</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Washington,
DC 20549</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">FORM
N-Q</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">QUARTERLY
SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT
COMPANY</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Investment
Company Act file number <font style="DISPLAY: inline; TEXT-DECORATION: underline">811-09135</font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Nuveen New York Dividend
Advantage Municipal Fund</font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Exact
name of registrant as specified in charter)</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nuveen
Investments</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;333
West Wacker Drive, Chicago, Illinois 60606
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Address
of principal executive offices) (Zip code)</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Kevin
J. McCarthy</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vice
President and Secretary</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;333
West Wacker Drive, Chicago, Illinois 60606
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Name and
address of agent for service)</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Registrant's
telephone number, including area code: <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;312-917-7700&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of
fiscal year end:&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9/30&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of
reporting period:&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6/30/10&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Form N-Q
is to be used by management investment companies, other than small business
investment companies registered on Form N-5 (&#167;&#167; 239.24 and 274.5 of this
chapter), to file reports with the Commission, not later than 60 days after the
close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the
Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the
information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A
registrant is required to disclose the information specified by Form N-Q, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-Q unless the
Form displays a currently valid Office of Management and Budget ("OMB") control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to the
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington,
DC 20549-0609. The OMB has reviewed this collection of information under the
clearance requirements of 44 U.S.C. &#167; 3507.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
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          <hr style="COLOR: black" noshade size="2">
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      </div>
      <div id="HDR">
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item
1. Schedule of Investments</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><br>
      <div style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
        <div align="left">
          <table border="0" cellspacing="0" style="WIDTH: 9in; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
                <td width="7%">
                </td>
                <td width="59%">
                </td>
                <td width="13%">
                </td>
                <td width="8%">
                </td>
                <td width="10%">
                </td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 12px"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Portfolio of Investments
      (Unaudited)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;&#160;&#160; Nuveen New
      York Dividend Advantage Municipal Fund (NAN)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="FONT-STYLE: italic; DISPLAY: inline">&#160;&#160;&#160; June 30,
      2010</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Principal</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="right" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Optional Call</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Amount (000)</font></td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Description (1)</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Provisions (2)</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Ratings (3)</font></td>
                <td nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Value</font></td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Consumer Discretionary &#8211; 2.8%
      (1.9% of Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>$&#160;&#160;&#160;&#160;&#160; 950&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, Liberty Revenue Bonds,&#160;</td>
                <td align="right" nowrap>9/15 at 100.00&#160;</td>
                <td align="right" nowrap>BB+&#160;</td>
                <td align="right" nowrap>$&#160;&#160;&#160;&#160; 858,449&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">IAC/InterActiveCorp, Series
      2005, 5.000%, 9/01/35&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,600&#160;</td>
                <td align="left" nowrap>Seneca Nation of Indians Capital Improvements
      Authority, New York, Special Obligation Bonds,&#160;</td>
                <td align="right" nowrap>6/17 at 100.00&#160;</td>
                <td align="right" nowrap>BB&#160;</td>
                <td align="right" nowrap>2,957,940&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">Series 2007A, 5.000%, 12/01/23&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">4,550&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Consumer Discretionary&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3,816,389&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Consumer Staples &#8211; 2.1% (1.5%
      of Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>265&#160;</td>
                <td align="left" nowrap>New York Counties Tobacco Trust II, Tobacco
      Settlement Pass-Through Bonds, Series 2001,&#160;</td>
                <td align="right" nowrap>6/11 at 101.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>251,580&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 6/01/25&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>765&#160;</td>
                <td align="left" nowrap>Puerto Rico, The Children&#8217;s Trust Fund, Tobacco
      Settlement Asset-Backed Refunding Bonds,&#160;</td>
                <td align="right" nowrap>5/12 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>729,626&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2002, 5.375%,
      5/15/33&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>200&#160;</td>
                <td align="left" nowrap>Rensselaer Tobacco Asset Securitization Corporation,
      New York, Tobacco Settlement Asset-Backed&#160;</td>
                <td align="right" nowrap>6/12 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>188,880&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Bonds, Series 2001A,
      5.200%, 6/01/25&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>TSASC Inc., New York, Tobacco Asset-Backed Bonds,
      Series 2006:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>770&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">4.750%, 6/01/22&#160;</td>
                <td align="right" nowrap>6/16 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>745,984&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">1,125&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">5.000%, 6/01/26&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">6/16 at
      100.00&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">BBB&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">1,025,674&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3,125&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Consumer Staples&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">2,941,744&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Education and Civic
      Organizations &#8211; 15.3% (10.5% of Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>380&#160;</td>
                <td align="left" nowrap>Albany Industrial Development Agency, New York,
      Revenue Bonds, Albany Law School, Series&#160;</td>
                <td align="right" nowrap>7/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>366,594&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2007A, 5.000%,
    7/01/31&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>160&#160;</td>
                <td align="left" nowrap>Albany Industrial Development Agency, New York,
      Revenue Bonds, Brighter Choice Charter&#160;</td>
                <td align="right" nowrap>4/17 at 100.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>135,246&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Schools, Series 2007A,
      5.000%, 4/01/37&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,725&#160;</td>
                <td align="left" nowrap>Brooklyn Areba Local Development Corporation, New
      York, Payment in Lieu of Taxes Revenue&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>BBB&#8211;&#160;</td>
                <td align="right" nowrap>1,791,068&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Bonds, Barclays Center
      Project, Series 2009, 6.250%, 7/15/40&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>120&#160;</td>
                <td align="left" nowrap>Cattaraugus County Industrial Development Agency,
      New York, Revenue Bonds, St. Bonaventure&#160;</td>
                <td align="right" nowrap>5/16 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#8211;&#160;</td>
                <td align="right" nowrap>117,434&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">University, Series 2006,
      5.000%, 5/01/23&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,635&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      General Revenue Bonds, Manhattan College, Series&#160;</td>
                <td align="right" nowrap>7/17 at 100.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>1,509,448&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2007A, 5.000%, 7/01/41 &#8211;
      RAAI Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York, Lease
      Revenue Bonds, State University Dormitory&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>Aa2&#160;</td>
                <td align="right" nowrap>1,110,640&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Facilities, Series 2003B,
      5.250%, 7/01/32 (Mandatory put 7/01/13) &#8211; SYNCORA GTY Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>705&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York, Lease
      Revenue Bonds, State University Dormitory&#160;</td>
                <td align="right" nowrap>7/15 at 100.00&#160;</td>
                <td align="right" nowrap>Aa2&#160;</td>
                <td align="right" nowrap>714,017&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Facilities, Series 2004A,
      5.000%, 7/01/29 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>195&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Revenue Bonds, Fashion Institute of Technology,&#160;</td>
                <td align="right" nowrap>7/10 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>197,679&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2000, 5.375%,
      7/01/20 &#8211; AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,630&#160;</td>
                <td align="left" nowrap>Dutchess County Industrial Development Agency, New
      York, Civic Facility Revenue Bonds, Bard&#160;</td>
                <td align="right" nowrap>8/17 at 100.00&#160;</td>
                <td align="right" nowrap>Baa1&#160;</td>
                <td align="right" nowrap>1,385,549&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">College Project, Series
      2007-A2, 4.500%, 8/01/36&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>370&#160;</td>
                <td align="left" nowrap>Hempstead Town Industrial Development Agency, New
      York, Revenue Bonds, Adelphi University,&#160;</td>
                <td align="right" nowrap>10/15 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>373,030&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Civic Facility Project,
      Series 2005, 5.000%, 10/01/35&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>250&#160;</td>
                <td align="left" nowrap>Hempstead Town Local Development Corporation, New
      York, Revenue Bonds, Adelphi University&#160;</td>
                <td align="right" nowrap>2/19 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>260,150&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Project, Series 2009B,
      5.250%, 2/01/39&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,085&#160;</td>
                <td align="left" nowrap>Hempstead Town Local Development Corporation, New
      York, Revenue Bonds, Molloy College Project,&#160;</td>
                <td align="right" nowrap>7/19 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+&#160;</td>
                <td align="right" nowrap>1,141,008&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2009, 5.750%,
      7/01/39&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,070&#160;</td>
                <td align="left" nowrap>Monroe County Industrial Development Agency, New
      York, Civic Facility Revenue Bonds, St. John&#160;</td>
                <td align="right" nowrap>12/10 at 101.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>3,075,158&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Fisher College, Series
      1999, 5.375%, 6/01/24 &#8211; RAAI Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>330&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, Civic Facility Revenue Bonds, St.&#160;</td>
                <td align="right" nowrap>10/14 at 100.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>320,051&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Francis College, Series
      2004, 5.000%, 10/01/34&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,800&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, Civic Facility Revenue Bonds, YMCA of&#160;</td>
                <td align="right" nowrap>2/11 at 100.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>1,809,414&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Greater New York, Series
      2002, 5.250%, 8/01/21&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, PILOT Revenue Bonds, Queens Baseball&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Stadium Project, Series 2006:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>160&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 1/01/36 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap>1/17 at 100.00&#160;</td>
                <td align="right" nowrap>BB+&#160;</td>
                <td align="right" nowrap>142,482&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 1/01/39 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap>1/17 at 100.00&#160;</td>
                <td align="right" nowrap>BB+&#160;</td>
                <td align="right" nowrap>882,790&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,630&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">4.750%, 1/01/42 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap>1/17 at 100.00&#160;</td>
                <td align="right" nowrap>BB+&#160;</td>
                <td align="right" nowrap>1,377,448&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,240&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Authority, New
      York, PILOT Revenue Bonds, Yankee Stadium&#160;</td>
                <td align="right" nowrap>9/16 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#8211;&#160;</td>
                <td align="right" nowrap>1,973,306&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Project, Series 2006,
      4.500%, 3/01/39 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap>Niagara County Industrial Development Agency, New
      York, Civic Facility Revenue Bonds, Niagara&#160;</td>
                <td align="right" nowrap>11/11 at 101.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>1,520,565&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">University, Series 2001A,
      5.350%, 11/01/23 &#8211; RAAI Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>245&#160;</td>
                <td align="left" nowrap>Seneca County Industrial Development Authority, New
      York, Revenue Bonds, New York Chiropractic&#160;</td>
                <td align="right" nowrap>10/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>241,639&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">College, Series 2007,
      5.000%, 10/01/27&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>400&#160;</td>
                <td align="left" nowrap>Troy Capital Resource Corporation, New York, Revenue
      Bonds, Rensselaer Polytechnic Institute,&#160;</td>
                <td align="right" nowrap>9/20 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>407,756&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">Series 2010A, 5.125%, 9/01/40&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">21,630&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Education and Civic Organizations&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">20,852,472&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Financials &#8211; 2.1% (1.5% of
      Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,100&#160;</td>
                <td align="left" nowrap>Liberty Development Corporation, New York, Goldman
      Sachs Headquarter Revenue Bonds, Series&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>1,111,616&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2005, 5.250%,
    10/01/35&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,740&#160;</td>
                <td align="left" nowrap>Liberty Development Corporation, New York, Goldman
      Sachs Headquarters Revenue Bonds Series&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>1,822,232&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">2007, 5.500%, 10/01/37&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">2,840&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Financials&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">2,933,848&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Health Care &#8211; 30.7% (21.0% of
      Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Albany Industrial Development Agency, New York,
      Revenue Bonds, Albany Medical Center,&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Series 1999:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,035&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.000%, 5/01/19&#160;</td>
                <td align="right" nowrap>11/10 at 100.50&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>1,035,569&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,460&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6.000%, 5/01/29&#160;</td>
                <td align="right" nowrap>11/10 at 100.50&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>1,351,975&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,880&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      FHA-Insured Mortgage Hospital Revenue Bonds,&#160;</td>
                <td align="right" nowrap>8/10 at 100.50&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>1,892,502&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Memorial Hospital of
      William F. and Gertrude F. Jones Inc., Series 1999, 5.250%, 8/01/19
    &#8211;&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,825&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      FHA-Insured Mortgage Hospital Revenue Bonds,&#160;</td>
                <td align="right" nowrap>8/10 at 100.50&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>4,877,544&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Montefiore Medical Center,
      Series 1999, 5.450%, 8/01/29 &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>625&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      FHA-Insured Mortgage Revenue Bonds, Montefiore&#160;</td>
                <td align="right" nowrap>2/15 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>636,500&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Hospital, Series 2004,
      5.000%, 8/01/29 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,600&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      FHA-Insured Revenue Bonds, St. Lukes Roosevelt&#160;</td>
                <td align="right" nowrap>8/15 at 100.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>3,544,848&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Hospital, Series 2005,
      4.900%, 8/15/31&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>200&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Highland Hospital of Rochester Revenue Bonds,&#160;</td>
                <td align="right" nowrap>7/20 at 100.00&#160;</td>
                <td align="right" nowrap>A2&#160;</td>
                <td align="right" nowrap>201,084&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2010, 5.200%,
      7/01/32&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Insured Revenue Bonds, Franciscan Health&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Partnership Obligated Group &#8211; Frances Shervier Home
      and Hospital, Series 1997:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 7/01/17 &#8211; RAAI
      Insured&#160;</td>
                <td align="right" nowrap>7/10 at 100.00&#160;</td>
                <td align="right" nowrap>A3&#160;</td>
                <td align="right" nowrap>2,001,340&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 7/01/27 &#8211; RAAI
      Insured&#160;</td>
                <td align="right" nowrap>7/10 at 100.00&#160;</td>
                <td align="right" nowrap>A3&#160;</td>
                <td align="right" nowrap>1,978,240&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Revenue Bonds, Catholic Health Services of Long&#160;</td>
                <td align="right" nowrap>7/10 at 101.00&#160;</td>
                <td align="right" nowrap>A3&#160;</td>
                <td align="right" nowrap>2,023,540&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Island Obligated Group &#8211;
      St. Catherine of Siena Medical Center, Series 2000A, 6.500%,
    7/01/20&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Revenue Bonds, Lenox Hill Hospital Obligated&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Group, Series 2001:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,165&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.375%, 7/01/20&#160;</td>
                <td align="right" nowrap>7/11 at 101.00&#160;</td>
                <td align="right" nowrap>Ba1&#160;</td>
                <td align="right" nowrap>1,166,643&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>500&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 7/01/30&#160;</td>
                <td align="right" nowrap>7/11 at 101.00&#160;</td>
                <td align="right" nowrap>Ba1&#160;</td>
                <td align="right" nowrap>484,675&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,150&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Revenue Bonds, Memorial Sloan Kettering Cancer&#160;</td>
                <td align="right" nowrap>7/16 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>3,235,365&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Center, Series 2006,
      5.000%, 7/01/35 (UB)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,410&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Revenue Bonds, New York and Presbyterian&#160;</td>
                <td align="right" nowrap>8/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,544,627&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Hospital, Series 2004A,
      5.250%, 8/15/15 &#8211; AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Revenue Bonds, North Shore Long Island Jewish&#160;</td>
                <td align="right" nowrap>11/16 at 100.00&#160;</td>
                <td align="right" nowrap>Baa1&#160;</td>
                <td align="right" nowrap>995,750&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Obligated Group, Series
      2005A, 5.000%, 11/01/34&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Revenue Bonds, NYU Hospitals Center, Series&#160;</td>
                <td align="right" nowrap>7/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>2,061,180&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2007B, 5.625%,
    7/01/37&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>500&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Revenue Bonds, South Nassau Communities&#160;</td>
                <td align="right" nowrap>7/13 at 100.00&#160;</td>
                <td align="right" nowrap>Baa1&#160;</td>
                <td align="right" nowrap>509,330&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Hospital, Series 2003B,
      5.500%, 7/01/23&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>600&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Revenue Bonds, Winthrop-South Nassau University&#160;</td>
                <td align="right" nowrap>7/13 at 100.00&#160;</td>
                <td align="right" nowrap>Baa1&#160;</td>
                <td align="right" nowrap>600,162&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Hospital Association,
      Series 2003A, 5.500%, 7/01/32&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>420&#160;</td>
                <td align="left" nowrap>Livingston County Industrial Development Agency, New
      York, Civic Facility Revenue Bonds,&#160;</td>
                <td align="right" nowrap>7/10 at 100.00&#160;</td>
                <td align="right" nowrap>BB&#160;</td>
                <td align="right" nowrap>389,168&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Nicholas H. Noyes Hospital,
      Series 2005, 6.000%, 7/01/30&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Madison County Industrial Development Agency, New
      York, Civic Facility Revenue Bonds, Oneida&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Health System, Series 2007A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>410&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 2/01/27&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>BBB&#8211;&#160;</td>
                <td align="right" nowrap>366,843&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>360&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 2/01/32&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>BBB&#8211;&#160;</td>
                <td align="right" nowrap>325,854&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,750&#160;</td>
                <td align="left" nowrap>New York City Health and Hospitals Corporation, New
      York, Health System Revenue Bonds, Series&#160;</td>
                <td align="right" nowrap>2/13 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3&#160;</td>
                <td align="right" nowrap>1,846,355&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2003A, 5.250%, 2/15/22 &#8211;
      AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>555&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, Civic Facility Revenue Bonds, Staten&#160;</td>
                <td align="right" nowrap>7/12 at 100.00&#160;</td>
                <td align="right" nowrap>Baa3&#160;</td>
                <td align="right" nowrap>558,768&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Island University Hospital,
      Series 2001B, 6.375%, 7/01/31&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>100&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, Civic Facility Revenue Bonds, Staten&#160;</td>
                <td align="right" nowrap>7/12 at 101.00&#160;</td>
                <td align="right" nowrap>Baa3&#160;</td>
                <td align="right" nowrap>101,368&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Island University Hospital,
      Series 2002C, 6.450%, 7/01/32&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,000&#160;</td>
                <td align="left" nowrap>Ulster County Industrial Development Agency, New
      York, Civic Facility Revenue Bonds, Kingston&#160;</td>
                <td align="right" nowrap>11/10 at 100.50&#160;</td>
                <td align="right" nowrap>A2&#160;</td>
                <td align="right" nowrap>4,044,240&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Hospital, Series 1999,
      5.650%, 11/15/24&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,980&#160;</td>
                <td align="left" nowrap>Yates County Industrial Development Agency, New
      York, FHA-Insured Civic Facility Mortgage&#160;</td>
                <td align="right" nowrap>8/10 at 100.50&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>3,195,722&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Revenue Bonds, Soldiers and
      Sailors Memorial Hospital, Series 1999A, 5.650%, 2/01/39&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>950&#160;</td>
                <td align="left" nowrap>Yonkers Industrial Development Agency, New York,
      Revenue Bonds, St. John&#8217;s Riverside Hospital,&#160;</td>
                <td align="right" nowrap>7/11 at 101.00&#160;</td>
                <td align="right" nowrap>B&#8211;&#160;</td>
                <td align="right" nowrap>945,697&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">Series 2001A, 7.125%, 7/01/31&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">41,475&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Health Care&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">41,914,889&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Housing/Multifamily &#8211; 13.0%
      (8.9% of Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Kenmore Housing Authority, New York, Revenue Bonds,
      State University of New York at Buffalo&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Student Apartment Project, Series 1999A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,050&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 8/01/19 &#8211; RAAI
      Insured&#160;</td>
                <td align="right" nowrap>8/10 at 101.00&#160;</td>
                <td align="right" nowrap>A3&#160;</td>
                <td align="right" nowrap>3,094,042&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,750&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 8/01/24 &#8211; RAAI
      Insured&#160;</td>
                <td align="right" nowrap>8/10 at 101.00&#160;</td>
                <td align="right" nowrap>A3&#160;</td>
                <td align="right" nowrap>2,789,710&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,585&#160;</td>
                <td align="left" nowrap>New York City Housing Development Corporation, New
      York, Capital Fund Program Revenue Bonds,&#160;</td>
                <td align="right" nowrap>7/15 at 100.00&#160;</td>
                <td align="right" nowrap>AA+&#160;</td>
                <td align="right" nowrap>2,704,737&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2005A, 5.000%,
      7/01/25 &#8211; NPFG Insured (UB)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>New York City Housing Development Corporation, New
      York, Multifamily Housing Revenue Bonds,&#160;</td>
                <td align="right" nowrap>5/11 at 101.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>3,038,910&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2001A, 5.500%,
      11/01/31&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>750&#160;</td>
                <td align="left" nowrap>New York City Housing Development Corporation, New
      York, Multifamily Housing Revenue Bonds,&#160;</td>
                <td align="right" nowrap>5/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>767,183&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2004A, 5.250%,
      11/01/30&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,000&#160;</td>
                <td align="left" nowrap>New York City Housing Development Corporation, New
      York, Multifamily Housing Revenue Bonds,&#160;</td>
                <td align="right" nowrap>5/19 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>4,016,920&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2009J, 4.800%,
      5/01/36&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>290&#160;</td>
                <td align="left" nowrap>New York City Housing Development Corporation, New
      York, Multifamily Housing Revenue Bonds,&#160;</td>
                <td align="right" nowrap>5/20 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>291,322&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2010-D1A, 5.000%,
      11/01/42&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>600&#160;</td>
                <td align="left" nowrap>New York State Housing Finance Agency, Affordable
      Housing Revenue Bonds, Series 2009B,&#160;</td>
                <td align="right" nowrap>5/19 at 100.00&#160;</td>
                <td align="right" nowrap>Aa2&#160;</td>
                <td align="right" nowrap>599,196&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">4.500%, 11/01/29&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>405&#160;</td>
                <td align="left" nowrap>New York State Housing Finance Agency, Affordable
      Housing Revenue, Series 2007A, 5.250%,&#160;</td>
                <td align="right" nowrap>11/17 at 100.00&#160;</td>
                <td align="right" nowrap>Aa2&#160;</td>
                <td align="right" nowrap>407,418&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">11/01/38 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">17,430&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Housing/Multifamily&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">17,709,438&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Housing/Single Family &#8211; 3.9%
      (2.6% of Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>645&#160;</td>
                <td align="left" nowrap>Guam Housing Corporation, Mortgage-Backed Securities
      Program Single Family Mortgage Revenue&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>710,371&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Bonds, Series 1998A,
      5.750%, 9/01/31 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>485&#160;</td>
                <td align="left" nowrap>New York State Mortgage Agency, Homeowner Mortgage
      Revenue Bonds, 2007 Series 145, 5.125%,&#160;</td>
                <td align="right" nowrap>4/17 at 100.00&#160;</td>
                <td align="right" nowrap>Aa1&#160;</td>
                <td align="right" nowrap>487,294&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">10/01/37 (Alternative
      Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,350&#160;</td>
                <td align="left" nowrap>New York State Mortgage Agency, Homeowner Mortgage
      Revenue Bonds, Series 130, 4.650%,&#160;</td>
                <td align="right" nowrap>4/15 at 100.00&#160;</td>
                <td align="right" nowrap>Aa1&#160;</td>
                <td align="right" nowrap>1,316,156&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">4/01/27 (Alternative
      Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>510&#160;</td>
                <td align="left" nowrap>New York State Mortgage Agency, Homeowner Mortgage
      Revenue Bonds, Series 148, 2007, 5.200%,&#160;</td>
                <td align="right" nowrap>10/17 at 100.00&#160;</td>
                <td align="right" nowrap>Aa1&#160;</td>
                <td align="right" nowrap>517,028&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">10/01/32 (Alternative
      Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,390&#160;</td>
                <td align="left" nowrap>New York State Mortgage Agency, Homeowner Mortgage
      Revenue Bonds, Series 82, 5.650%,&#160;</td>
                <td align="right" nowrap>10/10 at 100.00&#160;</td>
                <td align="right" nowrap>Aa1&#160;</td>
                <td align="right" nowrap>1,390,695&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">4/01/30 (Alternative
      Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>840&#160;</td>
                <td align="left" nowrap>New York State Mortgage Agency, Mortgage Revenue
      Bonds, Thirty-Third Series A, 4.750%, 4/01/23&#160;</td>
                <td align="right" nowrap>4/13 at 101.00&#160;</td>
                <td align="right" nowrap>Aaa&#160;</td>
                <td align="right" nowrap>848,123&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">(Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">5,220&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Housing/Single Family&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">5,269,667&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Long-Term Care &#8211; 5.6% (3.8% of
      Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      FHA-Insured Nursing Home Mortgage Revenue Bonds,&#160;</td>
                <td align="right" nowrap>2/15 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>2,022,980&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Gurwin Jewish Geriatric
      Center of Long Island, Series 2005A, 4.900%, 2/15/41&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>600&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York, GNMA
      Collateralized Revenue Bonds, Cabrini of&#160;</td>
                <td align="right" nowrap>2/17 at 103.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>607,308&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Westchester Project, Series
      2006, 5.200%, 2/15/41&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>375&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Non-State Supported Debt, Ozanam Hall of Queens&#160;</td>
                <td align="right" nowrap>11/16 at 100.00&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>365,374&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Nursing Home Revenue Bonds,
      Series 2006, 5.000%, 11/01/31&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>250&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Revenue Bonds, Providence Rest, Series 2005,&#160;</td>
                <td align="right" nowrap>7/15 at 100.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>164,945&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 7/01/35 &#8211; ACA
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>905&#160;</td>
                <td align="left" nowrap>East Rochester Housing Authority, New York, Senior
      Living Revenue Bonds, Woodland Village&#160;</td>
                <td align="right" nowrap>8/16 at 101.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>768,879&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Project, Series 2006,
      5.500%, 8/01/33&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>750&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, Civic Facility Revenue Bonds, Special&#160;</td>
                <td align="right" nowrap>7/11 at 101.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>763,973&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Needs Facilities Pooled
      Program, Series 2001A-1, 7.250%, 7/01/16&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, Civic Facility Revenue Bonds, Special&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Needs Facilities Pooled Program, Series
    2008A-1:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,140&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 7/01/18&#160;</td>
                <td align="right" nowrap>7/16 at 101.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>1,052,254&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>635&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.800%, 7/01/23&#160;</td>
                <td align="right" nowrap>7/16 at 101.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>571,691&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,330&#160;</td>
                <td align="left" nowrap>Yonkers Industrial Development Agency, New York,
      FHA-Insured Mortgage Revenue Bonds, Michael&#160;</td>
                <td align="right" nowrap>8/10 at 100.50&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>1,337,701&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">Malotz Skilled Nursing Pavilion, Series 1999, 5.450%, 2/01/29 &#8211;
      NPFG Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">7,985&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Long-Term Care&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">7,655,105&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Materials &#8211; 0.2% (0.2% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>330&#160;</td>
                <td align="left" nowrap>Jefferson County Industrial Development Agency, New
      York, Solid Waste Disposal Revenue Bonds,&#160;</td>
                <td align="right" nowrap>12/13 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>327,891&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">International Paper Company Project, Series 2003A, 5.200%,
      12/01/20 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Tax
      Obligation/General &#8211; 11.8% (8.0% of Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>New York City, New York, General Obligation Bonds,
      Fiscal 2010 Series C, 5.000%, 8/01/23&#160;</td>
                <td align="right" nowrap>8/19 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>2,208,760&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,700&#160;</td>
                <td align="left" nowrap>New York City, New York, General Obligation Bonds,
      Fiscal Series 2007A, 5.000%, 8/01/25&#160;</td>
                <td align="right" nowrap>8/16 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>3,932,101&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>New York City, New York, General Obligation Bonds,
      Series 2004C-1, 5.250%, 8/15/16 (UB)&#160;</td>
                <td align="right" nowrap>8/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,125,040&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,590&#160;</td>
                <td align="left" nowrap>New York City, New York, General Obligation Bonds,
      Series 2007D-1, 5.250%, 12/01/25 (UB)&#160;</td>
                <td align="right" nowrap>12/17 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>7,118,782&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Rochester, New York, General Obligation Bonds,
      Series 1999:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>720&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 10/01/18 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>Aa3&#160;</td>
                <td align="right" nowrap>834,480&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">720&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">5.250%, 10/01/19 &#8211; NPFG Insured&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">No Opt.
      Call&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">Aa3&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">833,926&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">14,730&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total Tax
      Obligation/General&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">16,053,089&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Tax
      Obligation/Limited &#8211; 31.3% (21.4% of Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Battery Park City Authority, New York, Senior
      Revenue Bonds, Series 2003A, 5.250%, 11/01/21&#160;</td>
                <td align="right" nowrap>11/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,115,540&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>590&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Department of Health Revenue Bonds, Series&#160;</td>
                <td align="right" nowrap>7/15 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>616,609&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2005A, 5.250%, 7/01/24 &#8211;
      CIFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,850&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Secured Hospital Revenue Refunding Bonds,&#160;</td>
                <td align="right" nowrap>8/10 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>1,851,998&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Wyckoff Heights Medical
      Center, Series 1998H, 5.300%, 8/15/21 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>185&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York, State
      Personal Income Tax Revenue Bonds, Series&#160;</td>
                <td align="right" nowrap>3/15 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>199,221&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2005F, 5.000%, 3/15/21 &#8211;
      AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>550&#160;</td>
                <td align="left" nowrap>Erie County Industrial Development Agency, New York,
      School Facility Revenue Bonds, Buffalo&#160;</td>
                <td align="right" nowrap>5/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>584,887&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">City School District,
      Series 2004, 5.750%, 5/01/26 &#8211; AGM Insured (UB)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Metropolitan Transportation Authority, New York,
      Dedicated Tax Fund Bonds, Series 2002A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 11/15/25 &#8211; AGM
      Insured&#160;</td>
                <td align="right" nowrap>11/12 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>2,107,280&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 11/15/30&#160;</td>
                <td align="right" nowrap>11/12 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>2,060,800&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Metropolitan Transportation Authority, New York,
      State Service Contract Refunding Bonds,&#160;</td>
                <td align="right" nowrap>7/12 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>1,016,440&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2002A, 5.125%,
      1/01/29&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,130&#160;</td>
                <td align="left" nowrap>Monroe Newpower Corporation, New York, Power
      Facilities Revenue Bonds, Series 2003,&#160;</td>
                <td align="right" nowrap>1/13 at 102.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>1,058,889&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 1/01/34&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>New York City Sales Tax Asset Receivable
      Corporation, New York, Dedicated Revenue Bonds, Local&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Government Assistance Corporation, Series
    2004A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,100&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 10/15/25 &#8211; NPFG
      Insured (UB)&#160;</td>
                <td align="right" nowrap>10/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,185,668&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>810&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 10/15/26 &#8211; NPFG
      Insured (UB)&#160;</td>
                <td align="right" nowrap>10/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>871,325&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,375&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 10/15/29 &#8211; AMBAC
      Insured (UB)&#160;</td>
                <td align="right" nowrap>10/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>2,520,374&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,100&#160;</td>
                <td align="left" nowrap>New York City Transitional Finance Authority, New
      York, Building Aid Revenue Bonds, Fiscal&#160;</td>
                <td align="right" nowrap>1/17 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>2,198,847&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2007S-2, 5.000%,
      1/15/28 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,670&#160;</td>
                <td align="left" nowrap>New York City Transitional Finance Authority, New
      York, Future Tax Secured Bonds, Fiscal&#160;</td>
                <td align="right" nowrap>2/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,754,051&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2003E, 5.000%,
      2/01/23 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,115&#160;</td>
                <td align="left" nowrap>New York City Transitional Finance Authority, New
      York, Future Tax Secured Bonds, Fiscal&#160;</td>
                <td align="right" nowrap>11/17 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>2,280,266&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2007C-1, 5.000%,
      11/01/27&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>New York State Environmental Facilities Corporation,
      Infrastructure Revenue Bonds, Series&#160;</td>
                <td align="right" nowrap>3/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>1,049,700&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2003A, 5.000%,
    3/15/21&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,920&#160;</td>
                <td align="left" nowrap>New York State Environmental Facilities Corporation,
      State Personal Income Tax Revenue Bonds,&#160;</td>
                <td align="right" nowrap>12/17 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>3,159,466&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2008A, 5.000%,
      12/15/26 (UB)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,190&#160;</td>
                <td align="left" nowrap>New York State Housing Finance Agency, State
      Personal Income Tax Revenue Bonds, Economic&#160;</td>
                <td align="right" nowrap>9/15 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,228,984&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Development and Housing,
      Series 2006A, 5.000%, 3/15/36&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>New York State Thruway Authority, Highway and Bridge
      Trust Fund Bonds, Second General, Series&#160;</td>
                <td align="right" nowrap>10/15 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,082,680&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2005B, 5.000%, 4/01/21 &#8211;
      AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,625&#160;</td>
                <td align="left" nowrap>New York State Thruway Authority, Highway and Bridge
      Trust Fund Bonds, Series 2007,&#160;</td>
                <td align="right" nowrap>10/17 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,732,656&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 4/01/27&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,400&#160;</td>
                <td align="left" nowrap>New York State Thruway Authority, Highway and Bridge
      Trust Fund Bonds, Series 2005B,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>4,039,540&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 4/01/20 &#8211; AMBAC
      Insured (UB)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>New York State Tobacco Settlement Financing
      Corporation, Tobacco Settlement Asset-Backed and&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>State Contingency Contract-Backed Bonds, Series
      2003A-1:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 6/01/20 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>4,280,920&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 6/01/22 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>2,116,160&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>New York State Tobacco Settlement Financing
      Corporation, Tobacco Settlement Asset-Backed and&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>1,084,580&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">State Contingency
      Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/21&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,330&#160;</td>
                <td align="left" nowrap>New York State Urban Development Corporation, State
      Personal Income Tax Revenue Bonds, Tender&#160;</td>
                <td align="right" nowrap>3/17 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,491,023&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">Option Bond Trust 09-6W, 12.779%, 3/15/37 (IF)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">39,940&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total Tax
      Obligation/Limited&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">42,687,904&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Transportation &#8211; 14.7% (10.1%
      of Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>310&#160;</td>
                <td align="left" nowrap>Albany Parking Authority, New York, Revenue Bonds,
      Series 2001A, 5.625%, 7/15/25&#160;</td>
                <td align="right" nowrap>7/11 at 101.00&#160;</td>
                <td align="right" nowrap>BBB+&#160;</td>
                <td align="right" nowrap>314,731&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>Metropolitan Transportation Authority, New York,
      Transportation Revenue Bonds, Series 2007B,&#160;</td>
                <td align="right" nowrap>11/17 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>3,055,380&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 11/15/33&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Metropolitan Transportation Authority, New York,
      Transportation Revenue Refunding Bonds,&#160;</td>
                <td align="right" nowrap>11/12 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>1,036,780&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2002A, 5.125%,
      11/15/22 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,750&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, American Airlines-JFK International&#160;</td>
                <td align="right" nowrap>8/16 at 101.00&#160;</td>
                <td align="right" nowrap>B&#8211;&#160;</td>
                <td align="right" nowrap>1,808,835&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Airport Special Facility
      Revenue Bonds, Series 2005, 7.750%, 8/01/31 (Alternative Minimum
    Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, Civic Facility Revenue Bonds, Bronx&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Parking Development Company, LLC Project, Series
      2007:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>200&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.750%, 10/01/37&#160;</td>
                <td align="right" nowrap>10/17 at 100.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>165,762&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.875%, 10/01/46&#160;</td>
                <td align="right" nowrap>10/17 at 102.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>1,645,440&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>105&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, Special Facilities Revenue Bonds,&#160;</td>
                <td align="right" nowrap>12/10 at 100.00&#160;</td>
                <td align="right" nowrap>BB&#8211;&#160;</td>
                <td align="right" nowrap>78,352&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">British Airways PLC, Series
      1998, 5.250%, 12/01/32 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, Special Facilities Revenue Bonds, JFK&#160;</td>
                <td align="right" nowrap>8/12 at 101.00&#160;</td>
                <td align="right" nowrap>B&#8211;&#160;</td>
                <td align="right" nowrap>1,035,250&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Airport &#8211; American Airlines
      Inc., Series 2002B, 8.500%, 8/01/28 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>900&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, Special Facilities Revenue Bonds,&#160;</td>
                <td align="right" nowrap>1/16 at 100.00&#160;</td>
                <td align="right" nowrap>A3&#160;</td>
                <td align="right" nowrap>919,242&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Terminal One Group JFK
      Project, Series 2005, 5.500%, 1/01/24 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Authority, New
      York, JetBlue,:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>450&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 5/15/20
      (Alternative Minimum Tax)&#160;</td>
                <td align="right" nowrap>5/12 at 100.00&#160;</td>
                <td align="right" nowrap>B&#8211;&#160;</td>
                <td align="right" nowrap>382,266&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.125%, 5/15/30
      (Alternative Minimum Tax)&#160;</td>
                <td align="right" nowrap>5/12 at 100.00&#160;</td>
                <td align="right" nowrap>B&#8211;&#160;</td>
                <td align="right" nowrap>777,980&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>160&#160;</td>
                <td align="left" nowrap>New York State Thruway Authority, General Revenue
      Bonds, Series 2005F, 5.000%, 1/01/30 &#8211;&#160;</td>
                <td align="right" nowrap>1/15 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>164,408&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>700&#160;</td>
                <td align="left" nowrap>New York State Thruway Authority, General Revenue
      Bonds, Series 2005G, 5.000%, 1/01/30 &#8211;&#160;</td>
                <td align="right" nowrap>7/15 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>724,072&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">AGM Insured (UB)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>500&#160;</td>
                <td align="left" nowrap>Niagara Frontier Airport Authority, New York,
      Airport Revenue Bonds, Buffalo Niagara&#160;</td>
                <td align="right" nowrap>10/10 at 100.50&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>500,920&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">International Airport,
      Series 1999A, 5.625%, 4/01/29 &#8211; NPFG Insured (Alternative Minimum
    Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Port Authority of New York and New Jersey,
      Consolidated Revenue Bonds, One Hundred Fortieth&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Series 2005:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,300&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 12/01/28 &#8211; SYNCORA
      GTY Insured&#160;</td>
                <td align="right" nowrap>6/15 at 101.00&#160;</td>
                <td align="right" nowrap>Aa2&#160;</td>
                <td align="right" nowrap>1,383,174&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>615&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 12/01/31 &#8211; SYNCORA
      GTY Insured&#160;</td>
                <td align="right" nowrap>6/15 at 101.00&#160;</td>
                <td align="right" nowrap>Aa2&#160;</td>
                <td align="right" nowrap>648,105&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>440&#160;</td>
                <td align="left" nowrap>Port Authority of New York and New Jersey,
      Consolidated Revenue Bonds, One Hundred Forty&#160;</td>
                <td align="right" nowrap>8/17 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>545,864&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Eighth Series 2007, Trust
      2920, 17.380%, 8/15/32 &#8211; AGM Insured (IF)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Triborough Bridge and Tunnel Authority, New York,
      General Purpose Revenue Bonds, Series 2001A,&#160;</td>
                <td align="right" nowrap>1/12 at 100.00&#160;</td>
                <td align="right" nowrap>Aa2&#160;</td>
                <td align="right" nowrap>1,060,760&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 1/01/16&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>Triborough Bridge and Tunnel Authority, New York,
      General Purpose Revenue Refunding Bonds,&#160;</td>
                <td align="right" nowrap>11/12 at 100.00&#160;</td>
                <td align="right" nowrap>Aa2&#160;</td>
                <td align="right" nowrap>2,712,100&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2002B, 5.000%,
      11/15/21&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Triborough Bridge and Tunnel Authority, New York,
      Subordinate Lien General Purpose Revenue&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>Aa2&#160;</td>
                <td align="right" nowrap>1,104,680&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">Refunding Bonds, Tender Option Bond Trust 1184, 9.021%, 5/15/16
      (IF)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">19,930&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Transportation&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">20,064,101&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">U.S. Guaranteed &#8211; 2.5% (1.7% of
      Total Investments) (4)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>390&#160;</td>
                <td align="left" nowrap>Albany Parking Authority, New York, Revenue Bonds,
      Series 2001A, 5.625%, 7/15/25&#160;</td>
                <td align="right" nowrap>7/11 at 101.00&#160;</td>
                <td align="right" nowrap>BBB+ (4)&#160;</td>
                <td align="right" nowrap>416,029&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">(Pre-refunded
    7/15/11)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Dormitory Authority of the State of New York,
      Improvement Revenue Bonds, Mental Health&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Services Facilities, Series 2000D:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>25&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.875%, 8/15/18
      (Pre-refunded 8/15/10) &#8211; AGM Insured&#160;</td>
                <td align="right" nowrap>8/10 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>25,177&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.875%, 8/15/18
      (Pre-refunded 8/15/10) &#8211; AGM Insured&#160;</td>
                <td align="right" nowrap>8/10 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>10,070&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>535&#160;</td>
                <td align="left" nowrap>Metropolitan Transportation Authority, New York,
      Commuter Facilities Revenue Bonds, Series&#160;</td>
                <td align="right" nowrap>7/10 at 100.00&#160;</td>
                <td align="right" nowrap>N/R (4)&#160;</td>
                <td align="right" nowrap>536,530&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">1997B, 5.000%, 7/01/20 &#8211;
      AMBAC Insured (ETM)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>255&#160;</td>
                <td align="left" nowrap>New York City Industrial Development Agency, New
      York, Civic Facility Revenue Bonds, Special&#160;</td>
                <td align="right" nowrap>7/10 at 102.00&#160;</td>
                <td align="right" nowrap>N/R (4)&#160;</td>
                <td align="right" nowrap>260,146&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Needs Facilities Pooled
      Program, Series 2000, 8.125%, 7/01/19 (Pre-refunded 7/01/10)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>750&#160;</td>
                <td align="left" nowrap>Virgin Islands Public Finance Authority, Gross
      Receipts Taxes Loan Note, Series 1999A, 6.500%,&#160;</td>
                <td align="right" nowrap>10/10 at 101.00&#160;</td>
                <td align="right" nowrap>BBB+ (4)&#160;</td>
                <td align="right" nowrap>769,200&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">10/01/24 (Pre-refunded
      10/01/10)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,400&#160;</td>
                <td align="left" nowrap>Yonkers Industrial Development Agency, New York,
      Revenue Bonds, Community Development&#160;</td>
                <td align="right" nowrap>2/11 at 100.00&#160;</td>
                <td align="right" nowrap>BAA3 (4)&#160;</td>
                <td align="right" nowrap>1,449,532&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">Properties &#8211; Yonkers Inc. Project, Series 2001A, 6.625%,
      2/01/26 (Pre-refunded 2/01/11)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3,365&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total U.S.
      Guaranteed&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3,466,684&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Utilities &#8211; 6.5% (4.4% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,300&#160;</td>
                <td align="left" nowrap>Chautauqua County Industrial Development Agency, New
      York, Exempt Facility Revenue Bonds,&#160;</td>
                <td align="right" nowrap>2/20 at 100.00&#160;</td>
                <td align="right" nowrap>Baa3&#160;</td>
                <td align="right" nowrap>1,334,216&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">NRG Dunkirk Power Project,
      Series 2009, 5.875%, 4/01/42&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Long Island Power Authority, New York, Electric
      System General Revenue Bonds, Series 2006A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 12/01/23 &#8211; FGIC
      Insured&#160;</td>
                <td align="right" nowrap>6/16 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>2,667,450&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>500&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 12/01/24 &#8211; FGIC
      Insured&#160;</td>
                <td align="right" nowrap>6/16 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>527,995&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,400&#160;</td>
                <td align="left" nowrap>Nassau County Industrial Development Authority, New
      York, Keyspan Glenwood Energy Project,&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>1,414,630&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2003, 5.250%,
      6/01/27 (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>250&#160;</td>
                <td align="left" nowrap>Niagara County Industrial Development Agency, New
      York, Solid Waste Disposal Facility Revenue&#160;</td>
                <td align="right" nowrap>11/11 at 101.00&#160;</td>
                <td align="right" nowrap>Baa2&#160;</td>
                <td align="right" nowrap>256,725&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Bonds, American Ref-Fuel
      Company of Niagara LP, Series 2001C, 5.625%, 11/15/24 (Mandatory
    put&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">11/15/14) (Alternative
      Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>600&#160;</td>
                <td align="left" nowrap>Niagara County Industrial Development Agency, New
      York, Solid Waste Disposal Facility Revenue&#160;</td>
                <td align="right" nowrap>11/11 at 101.00&#160;</td>
                <td align="right" nowrap>Baa2&#160;</td>
                <td align="right" nowrap>616,158&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Refunding Bonds, American
      Ref-Fuel Company of Niagara LP, Series 2001B, 5.550%, 11/15/24&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">(Mandatory put 11/15/13)
      (Alternative Minimum Tax)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">2,000&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Power
      Authority of the State of New York, General Revenue Bonds, Series 2000A,
      5.250%, 11/15/30&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">11/10 at
      100.00&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">Aa2&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">2,008,820&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">8,550&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Utilities&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">8,825,994&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Water and Sewer &#8211; 2.5% (1.7% of
      Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,130&#160;</td>
                <td align="left" nowrap>New York City Municipal Water Finance Authority, New
      York, Water and Sewerage System Revenue&#160;</td>
                <td align="right" nowrap>6/12 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,224,344&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Bonds, Fiscal Series 2003A,
      5.375%, 6/15/19&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>New York City Municipal Water Finance Authority, New
      York, Water and Sewerage System Revenue&#160;</td>
                <td align="right" nowrap>6/19 at 100.00&#160;</td>
                <td align="right" nowrap>AA+&#160;</td>
                <td align="right" nowrap>2,174,420&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">Bonds, Second Generation Resolution, Fiscal 2010 Series 2009BB,
      5.000%, 6/15/27&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3,130&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total Water
      and Sewer&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3,398,764&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$&#160;&#160;&#160;&#160; 194,230&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Long-Term Investments (cost $194,702,373) &#8211; 145.0% (99.2% of Total
      Investments)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">197,917,979&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Short-Term Investments &#8211; 1.1%
      (0.8% of Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    1,521&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">State
      Street Bank Euro Dollar Time Deposit, 0.010%, 7/01/10&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">N/A&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">N/A&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">1,520,561&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Short-Term Investments (cost $1,520,561)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">1,520,561&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Investments (cost $196,222,934) &#8211; 146.1%&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">199,438,540&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Floating
      Rate Obligations &#8211; (12.8)%&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">(17,535,000)</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">MuniFund
      Term Preferred Shares, at Liquidation Value &#8211; (22.0)% (5)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">(30,000,000)</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Other
      Assets Less Liabilities &#8211; 4.7%&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">6,479,257&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Auction
      Rate Preferred Shares, at Liquidation Value &#8211; (16.0)% (5)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">(21,900,000)</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">Net Assets
      Applicable to Common Shares &#8211; 100%&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$
      136,482,797&#160;</td>
              </tr></table>
        </div><br></div>
      <div style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Fair Value Measurements</font></div>
      <div style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">In determining the value of the Fund&#8217;s
investments, various inputs are used. These inputs are summarized in the three
broad levels listed below: </div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">&#160;&#160;Level 1 &#8211; Quoted prices in active
markets for identical securities.</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">&#160;&#160;Level 2 &#8211; Other significant observable
inputs (including quoted prices for similar securities, interest rates,
prepayment speeds, credit risk, etc.).</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">&#160;&#160;Level 3 &#8211; Significant unobservable
inputs (including management&#8217;s assumptions in determining the fair value of
investments).</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">The inputs or methodologies used for valuing
securities are not an indication of the risk associated with investing in those
securities. The following is a summary of the Fund&#8217;s fair value measurements as
of June 30, 2010:</div>
        <div>&#160;</div>
        <div align="left">
          <table border="0" cellspacing="0" style="WIDTH: 9in; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
                <td width="35%">
                </td>
                <td width="29%">
                </td>
                <td width="14%">
                </td>
                <td width="11%">
                </td>
                <td width="10%">
                </td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Level 1</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Level 2</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Level 3</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Total</font></td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>Investments:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="TEXT-INDENT: 5px">Municipal Bonds&#160;</td>
                <td align="right" nowrap>$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8212;&#160;</td>
                <td align="right" nowrap>$197,917,979&#160;</td>
                <td align="right" nowrap>$ &#8212;&#160;</td>
                <td align="right" nowrap>$197,917,979&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5px">Short-Term Investments&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">1,520,561&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#8212;&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#8212;&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">1,520,561&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">Total&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$1,520,561&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$197,917,979&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$
    &#8212;&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$199,438,540&#160;</td>
              </tr></table>
        </div><br>
        <div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Income Tax Information</font></div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">The following information is presented on an
income tax basis. Differences between amounts for financial statement and
federal income tax purposes are primarily due to timing differences in
recognizing taxable market discount, timing differences in recognizing certain
gains and losses on investment transactions and the treatment of investments in
inverse floating rate securities reflected as financing transactions, if any. To
the extent that differences arise that are permanent in nature, such amounts are
reclassified within the capital accounts on the Statement of Assets and
Liabilities presented in the annual report, based on their federal tax basis
treatment; temporary differences do not require reclassification. Temporary and
permanent differences do not impact the net asset value of the Fund.</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">At June 30, 2010, the cost of investments was
$178,581,982.</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">Gross unrealized appreciation and gross unrealized
depreciation of investments at June 30, 2010, were as follows:</div>
        <div>&#160;</div>
        <div align="left">
          <table border="0" cellspacing="0" style="WIDTH: 9in; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
                <td width="62%">
                </td>
                <td width="37%">
                </td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-TOP: #000000 1px solid">Gross
      unrealized:&#160;</td>
                <td align="left" nowrap style="BORDER-TOP: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;&#160; Appreciation&#160;</td>
                <td align="right" nowrap>$ 5,671,765&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;&#160; Depreciation&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">(2,541,421)</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">Net
      unrealized appreciation (depreciation) of investments&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$
      3,130,344&#160;</td>
              </tr></table>
        </div><br>
        <div align="left">
          <table border="0" cellspacing="0" style="WIDTH: 9in; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
                <td width="6%">
                </td>
                <td width="93%">
                </td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(1)&#160;</td>
                <td align="left" nowrap>All percentages shown in the Portfolio of
      Investments are based on net assets applicable to Common&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>shares unless otherwise noted.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(2)&#160;</td>
                <td align="left" nowrap>Optional Call Provisions: Dates (month and year) and
      prices of the earliest optional call or redemption.&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>There may be other call provisions at varying prices
      at later dates. Certain mortgage-backed securities&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>may be subject to periodic principal
    paydowns.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(3)&#160;</td>
                <td align="left" nowrap>Ratings: Using the highest of Standard &amp; Poor&#8217;s
      Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investor Service,&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch, Inc. (&#8220;Fitch&#8221;) rating.
      Ratings below BBB by Standard &amp; Poor&#8217;s, Baa by Moody&#8217;s or&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>BBB by Fitch are considered to be below investment
      grade.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(4)&#160;</td>
                <td align="left" nowrap>Backed by an escrow or trust containing sufficient
      U.S. Government or U.S. Government agency securities,&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>which ensure the timely payment of principal and
      interest. Such investments are normally considered to be&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>equivalent to AAA rated securities.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(5)&#160;</td>
                <td align="left" nowrap>MuniFund Term Preferred Shares and Auction Rate
      Preferred Securities, at Liquidation Value as a&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>percentage of Total Investments are 15.0% and 11.0%,
      respectively.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>N/A&#160;</td>
                <td align="left" nowrap>Not applicable.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>N/R&#160;</td>
                <td align="left" nowrap>Not rated.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(ETM)&#160;</td>
                <td align="left" nowrap>Escrowed to maturity.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(IF)&#160;</td>
                <td align="left" nowrap>Inverse floating rate investment.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(UB)&#160;</td>
                <td align="left" nowrap>Underlying bond of an inverse floating rate trust
      reflected as a financing transaction.&#160;</td>
              </tr></table>
        </div>
        <div align="left">&#160;</div>
      </div>
    </div>
    <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="TEXT-ALIGN: center; WIDTH: 100%">
        </div>
        <div style="TEXT-ALIGN: center; WIDTH: 100%">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item
2. Controls and Procedures.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
            <td align="right" valign="top" width="5%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">a.&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="82%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">The
      registrant's principal executive and principal financial officers, or
      persons performing similar functions, have concluded that the registrant's
      disclosure controls and procedures (as defined in Rule 30a-3(c) under the
      Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR
      270.30a-3(c))) are effective, as of a date within 90 days of the filing
      date of this report that includes the disclosure required by this
      paragraph, based on their evaluation of the controls and procedures
      required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and
      Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17
      CFR 240.13a-15(b) or
240.15d-15(b)).</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
            <td align="right" valign="top" width="5%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">b.&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="82%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">There
      were no changes in the registrant's internal control over financial
      reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR
      270.30a-3(d)) that occurred during the registrant's last fiscal quarter
      that have materially affected, or are reasonably likely to materially
      affect, the registrant's internal control over financial
      reporting.</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item
3. Exhibits.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">File as
exhibits as part of this Form a separate certification for each principal
executive officer and principal financial officer of the registrant as required
by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth
below: See EX-99 CERT attached hereto.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="TEXT-ALIGN: center; WIDTH: 100%">
        </div>
        <div style="TEXT-ALIGN: center; WIDTH: 100%">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SIGNATURES</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Registrant)&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;Nuveen New York
Dividend Advantage Municipal Fund&#160;</font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">By
(Signature and Title) <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;/s/&#160;Kevin
J.
McCarthy&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Kevin
J. McCarthy</font></div>
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President and Secretary</font></div>
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27, 2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
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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></div>
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(Signature and Title) <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160; &#160;/s/
Gifford R.
Zimmerman&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;</font></font></div>
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R. Zimmerman</font></div>
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Administrative Officer (principal executive officer)&#160;</font></div>
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27,
2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></font></div>
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(Signature and Title) <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160; /s/
Stephen D.
Foy&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;</font></font></div>
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D. Foy</font></div>
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2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></font></div>
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<TYPE>EX-99.CERT
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<FILENAME>certification2.htm
<DESCRIPTION>CERTIFICATIONS
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">CERTIFICATIONS</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">I, Gifford R. Zimmerman, certify that:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">1.</font></div>
</td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">I have reviewed this report on Form N-Q of Nuveen New York Dividend Advantage Municipal Fund;</font></div>
</td>
</tr></table>
</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td style="WIDTH: 27pt">
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2.</font></div>
</td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
</td>
</tr></table>
</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td style="WIDTH: 27pt">
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">3.</font></div>
</td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
</td>
</tr></table>
</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td style="WIDTH: 27pt">
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">4.</font></div>
</td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The registrant's other certifying officer 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></div>
</td>
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<div>
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<td align="right" style="WIDTH: 45pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">a.&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
</td>
</tr></table>
</div>

<div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">b.&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
</td>
</tr></table>
</div>

<div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">c.&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
</td>
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</div>

<div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">d.&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
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<div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">5.</font></div>
</td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The registrant's other certifying officer 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></div>
</td>
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<div>
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<td align="right" style="WIDTH: 45pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">a.&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
</td>
</tr></table>
</div>

<div>
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<td align="right" style="WIDTH: 45pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">b.&#160;&#160;</font></div>
</td>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date:&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;August 27, 2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Gifford R. Zimmerman</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Gifford R. Zimmerman</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Chief Administrative Officer</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(principal executive officer)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%">&#160;</div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">CERTIFICATIONS</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">I, Stephen D. Foy, certify that:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td style="WIDTH: 27pt">
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">1.</font></div>
</td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">I have reviewed this report on Form N-Q of Nuveen New York Dividend Advantage Municipal Fund;</font></div>
</td>
</tr></table>
</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td style="WIDTH: 27pt">
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2.</font></div>
</td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
</td>
</tr></table>
</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td style="WIDTH: 27pt">
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">3.</font></div>
</td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
</td>
</tr></table>
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<div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The registrant's other certifying officer 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></div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">a.&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">c.&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">d.&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The registrant's other certifying officer 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></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date:&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;August 27, 2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Stephen D. Foy</font></div>

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