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<SEC-DOCUMENT>0000855887-06-000010.txt : 20061024
<SEC-HEADER>0000855887-06-000010.hdr.sgml : 20061024
<ACCEPTANCE-DATETIME>20061024163901
ACCESSION NUMBER:		0000855887-06-000010
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20060831
FILED AS OF DATE:		20061024
DATE AS OF CHANGE:		20061024
EFFECTIVENESS DATE:		20061024

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DREYFUS STRATEGIC MUNICIPAL BOND FUND INC
		CENTRAL INDEX KEY:			0000855887
		IRS NUMBER:				051287040
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05877
		FILM NUMBER:		061160626

	BUSINESS ADDRESS:	
		STREET 1:		THE DREYFUS CORPORATION
		STREET 2:		200 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166
		BUSINESS PHONE:		2129228297

	MAIL ADDRESS:	
		STREET 1:		C/O DREYFUS CORP
		STREET 2:		200 PARK AVENUE, 8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>form-852.htm
<DESCRIPTION>QUARTERLY SCHEDULE
<TEXT>

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   <TITLE>form-852</TITLE>
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<B><FONT size=2 face="serif">UNITED STATES</FONT></B>
	</TD>
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	<TD width=100% nowrap>
<B><FONT size=2 face="serif">SECURITIES AND EXCHANGE COMMISSION</FONT></B>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100%>
<B><FONT size=2 face="serif">Washington, D.C. 20549</FONT></B>
	</TD>
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</TABLE><BR>
<TABLE border=0 cellspacing=1 cellpadding=0>
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	<TD width=100% nowrap>
<FONT size=2 face="serif">FORM N-Q</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100% nowrap>
<FONT size=2 face="serif">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100% nowrap>
<FONT size=2 face="serif">INVESTMENT COMPANY</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100% nowrap>
<FONT size=2 face="serif">Investment Company Act file number 811-5877</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100% nowrap>
<FONT size=2 face="serif">Dreyfus Strategic Municipal Bond Fund, Inc.</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100% nowrap>
<FONT size=2 face="serif">(Exact name of Registrant as specified in charter)</FONT>&nbsp;
	</TD>
</TR>
</TABLE><BR>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
	<TD width=100% nowrap>
<FONT size=2 face="serif">c/o The Dreyfus Corporation</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100% nowrap>
<FONT size=2 face="serif">200 Park Avenue</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100% nowrap>
<FONT size=2 face="serif">New York, New York 10166</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100% nowrap>
<FONT size=2 face="serif">(Address of principal executive offices) (Zip code)</FONT>&nbsp;
	</TD>
</TR>
<TR>
	<TD>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100% nowrap>
<FONT size=2 face="serif">Mark N. Jacobs, Esq.</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100% nowrap>
<FONT size=2 face="serif">200 Park Avenue</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100% nowrap>
<FONT size=2 face="serif">New York, New York 10166</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100% nowrap>
<FONT size=2 face="serif">(Name and address of agent for service)</FONT>&nbsp;
	</TD>
</TR>
<TR>
	<TD>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100% nowrap>
<FONT size=2 face="serif">Registrant's telephone number, including area code: (212) 922-6000</FONT>&nbsp;
	</TD>
</TR>
</TABLE><BR>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
	<TD width=71% nowrap>
<FONT size=2 face="serif">Date of fiscal year end:</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=26% nowrap>
<FONT size=2 face="serif">11/30</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=71% nowrap>
<FONT size=2 face="serif">Date of reporting period:</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=26% nowrap>
<FONT size=2 face="serif">8/31/06</FONT>&nbsp;
	</TD>
</TR>
</TABLE><BR>

<HR noshade align="center" width="100%" size=2>


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<P align="center">
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">FORM N-Q</FONT></B><BR>
</TD></TR></TABLE>

<P>
<B><FONT size=2 face="serif">Item 1. Schedule of Investments. </FONT></B></P>















<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=43% nowrap colspan=3>
<B><FONT face="sans-serif">STATEMENT OF INVESTMENTS</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=43% nowrap colspan=3>
<B><FONT size=2 face="sans-serif">Dreyfus Strategic Municipal Bond Fund, Inc.</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=2 face="sans-serif">August 31, 2006 (Unaudited)</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR>
        <TD colspan=9>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=2 face="sans-serif">Long-Term Municipal</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<B><FONT size=2 face="sans-serif">Coupon</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=2 face="sans-serif">Maturity</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<B><FONT size=2 face="sans-serif">Principal</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=2 face="sans-serif">Investments--139.3%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<B><FONT size=2 face="sans-serif">Rate (%)</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=2 face="sans-serif">Date</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<B><FONT size=2 face="sans-serif">Amount ($)</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<B><FONT size=2 face="sans-serif">Value ($)</FONT></B>&nbsp;
        </TD>
</TR>
<TR>
        <TD>
<HR noshade size=1>
        </TD>
        <TD>
        </TD>
        <TD>
<HR noshade size=1>
        </TD>
        <TD>
        </TD>
        <TD>
<HR noshade size=1>
        </TD>
        <TD>
        </TD>
        <TD>
<HR noshade size=1>
        </TD>
        <TD>
        </TD>
        <TD>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=1 face="sans-serif">Alabama--1.0%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Jefferson County,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Limited Obligation School</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Warrants</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5.50</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">1/1/22</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">4,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">4,328,960</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=1 face="sans-serif">Alaska--3.9%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Alaska Housing Finance Corp.</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">(Veterans Mortgage Program)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">6/1/35</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">4,490,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">4,708,259</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Alaska Housing Finance Corp.,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">General Mortgage Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">(Insured; MBIA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6.05</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">6/1/39</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">11,915,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">12,268,637</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=1 face="sans-serif">Arizona--.5%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Apache County Industrial</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Development Authority, PCR</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">(Tucson Electric Power Co.</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5.85</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">3/1/28</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">2,220,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,221,154</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=1 face="sans-serif">Arkansas--2.8%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Arkansas Development Finance</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Authority, SFMR (Mortgage</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Backed Securities Program)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">(Collateralized: FNMA and GNMA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">1/1/32</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">2,680,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,737,352</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Independence County,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">PCR (Entergy Arkansas Inc.</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">1/1/21</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">4,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">4,089,520</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Little Rock School District</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">(Insured; FSA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">2/1/30</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">5,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,202,450</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=1 face="sans-serif">California--5.6%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">California</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">GO (Various Purpose)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">11/1/27</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">4,855,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,327,149</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">California</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">GO (Various Purpose)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5.50</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">4/1/28</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">4,240,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">4,519,586</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">California Department of Veteran</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Affairs, Home Purchase Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5.20</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">12/1/28</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">5,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,003,000</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">California Health Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Financing Authority, Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">(Cedars-Sinai Medical Center)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">12/1/09</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">3,750,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">4,096,837</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Chula Vista,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">IDR (San Diego Gas and</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Electric Co.)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">12/1/27</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">3,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,110,940</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Chula Vista,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">IDR (San Diego Gas and</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Electric Co.)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">12/1/27</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">2,500,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,592,450</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=1 face="sans-serif">Colorado--4.5%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
</TABLE><BR>
<IMG src="rep-852x1x1.jpg" border=0>

<HR noshade align="center" width="100%" size=2>




<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">8.50</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">12/1/31</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">1,995,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,067,678</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Colorado Housing Finance Authority</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Collateralized; FHA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">6.60</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">8/1/32</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">2,090,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,164,718</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Denver City and County,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Special Facilities Airport</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Revenue (United Airlines</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">6.88</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">10/1/32</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">2,885,000 b</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,649,525</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Northwest Parkway Public Highway</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">7.13</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6/15/41</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">7,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">6,969,480</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Silver Dollar Metropolitan</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">District</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">7.05</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">12/1/06</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">4,755,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">4,795,703</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">Connecticut--4.7%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Connecticut Development Authority,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">PCR (Connecticut Light and</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Power Co. Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">5.95</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">9/1/28</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">9,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">9,438,480</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Connecticut Health and Educational</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Facilities Authority, Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Yale University Issue)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">5.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">7/1/42</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">4,735,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">4,921,512</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Connecticut Resources Recovery</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority (American REF-FUEL</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Co. of Southeastern</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Connecticut Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">6.45</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">11/15/22</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">4,985,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,096,664</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Mohegan Tribe Indians Gaming</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, Public</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Improvement-Priority</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Distribution</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">6.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">1/1/31</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">1,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">1,065,600</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">District of Columbia--3.1%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">District of Columbia Tobacco</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Settlement Financing Corp.,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Tobacco Settlement</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Asset-Backed Bonds</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">0.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6/15/46</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">104,040,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">9,179,449</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Metropolitan Washington Airports</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, Special Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Revenue (Caterair</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">International Corp.)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">10.13</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">9/1/11</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">4,300,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">4,306,235</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">Florida--4.1%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Florida Housing Finance Corp.,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Housing Revenue (Seminole</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Ridge Apartments)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Collateralized; GNMA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">4/1/41</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">6,415,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">6,681,992</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Highlands County Health Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, HR (Adventist</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Health System/Sunbelt</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Obligated Group)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">5.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">11/15/36</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">4,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">4,217,920</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Orange County Health Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, HR (Orlando</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Regional Healthcare System)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">10/1/09</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">70,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">75,326</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Orange County Health Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, HR (Orlando</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Regional Healthcare System)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">10/1/26</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">3,430,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,635,320</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Orange County Health Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, Revenue (Adventist</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
</TABLE><BR>

<HR noshade align="center" width="100%" size=2>


<A name="page_3"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Health System)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">6.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">11/15/24</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">3,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,331,800</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<B><FONT size=1 face="sans-serif">Georgia--2.6%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Atlanta,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Airport Revenue (Insured; FSA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">5.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">1/1/25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">3,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,174,360</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Augusta,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Airport Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">5.45</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">1/1/31</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">2,500,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,620,850</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Georgia Housing and Finance</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Authority, SFMR</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">5.60</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">12/1/32</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">2,445,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,526,614</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Savannah Economic Development</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Authority, EIR (International</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Paper Co. Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">6.20</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">8/1/27</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">2,670,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,892,731</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<B><FONT size=1 face="sans-serif">Idaho--.1%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Idaho Housing and Finance</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Association, SFMR</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">(Collateralized; FNMA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">6.35</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">1/1/30</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">460,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">478,138</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<B><FONT size=1 face="sans-serif">Illinois--8.3%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Chicago,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">SFMR (Collateralized: FHLMC,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">FNMA and GNMA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">6.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">10/1/32</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">2,240,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,279,603</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Chicago O'Hare International</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Airport, General Airport</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Revenue (3rd Lien) (Insured;</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">XLCA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">1/1/29</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">5,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,587,750</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Chicago O'Hare International</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Airport, Special Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Revenue (American Airlines</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Inc. Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">8.20</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">12/1/24</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">5,700,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,845,350</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Illinois Educational Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Authority, Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">(Northwestern University)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">5.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">12/1/38</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">5,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,151,300</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Illinois Health Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Authority, Revenue (Advocate</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Health Care Network)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">6.13</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">11/15/10</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">5,000,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,481,150</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Illinois Health Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Authority, Revenue (OSF</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Healthcare System)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">6.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">11/15/09</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">10,900,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">11,861,925</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<B><FONT size=1 face="sans-serif">Indiana--1.5%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Franklin Township School Building</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Corp., First Mortgage</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">6.13</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">7/15/10</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">6,000,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">6,647,280</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<B><FONT size=1 face="sans-serif">Louisiana--1.8%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">West Feliciana Parish,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">PCR (Entergy Gulf States Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">7.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">11/1/15</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">3,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,035,670</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">West Feliciana Parish,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">PCR (Entergy Gulf States Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">6.60</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">9/1/28</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">4,700,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">4,747,470</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<B><FONT size=1 face="sans-serif">Maryland--1.2%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Maryland Economic Development</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Corp., Senior Student Housing</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Revenue (University of</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Maryland, Baltimore Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">5.75</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">10/1/33</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">2,550,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,510,297</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Maryland Industrial Development</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Financing Authority, EDR</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">(Medical Waste Associates</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
</TABLE><BR>

<HR noshade align="center" width="100%" size=2>


<A name="page_4"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Limited Partnership Facility)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">8.75</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">11/15/10</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">3,710,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,744,510</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">Massachusetts--3.6%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Massachusetts Health and</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Educational Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, Revenue (Civic</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Investments Issue)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">9.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">12/15/15</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">2,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,450,120</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Massachusetts Health and</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Educational Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, Revenue (Partners</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Healthcare System)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.75</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">7/1/32</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">3,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,251,190</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Massachusetts Housing Finance</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Agency, Housing</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">6/1/30</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">1,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">1,032,670</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Massachusetts Housing Finance</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Agency, SFHR</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">12/1/31</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">6,000,000 c</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">6,113,040</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Massachusetts Turnpike Authority,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Metropolitan Highway System</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Revenue (Insured; MBIA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">1/1/37</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">2,805,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,861,717</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">Michigan--3.2%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Charyl Stockwell Academy,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">COP</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.90</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">10/1/35</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">1,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">1,024,780</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Kent Hospital Finance Authority,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Revenue (Metropolitan Hospital</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">7/1/35</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">4,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">4,375,120</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Michigan Strategic Fund,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">SWDR (Genesee Power Station</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">7.50</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">1/1/21</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">8,720,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">8,718,954</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">Minnesota--1.0%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Saint Paul Housing and</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Redevelopement Authority,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Hospital Facility Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(HealthEast Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">11/15/25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">1,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">1,105,210</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Saint Paul Housing and</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Redevelopment Authority,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Hospital Facility Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(HealthEast Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">11/15/35</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">3,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,296,940</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">Mississippi--.7%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Mississippi Business Finance</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Corp., PCR (System Energy</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Resources, Inc. Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.90</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">5/1/22</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">3,160,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,165,182</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">Nebraska--.3%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Nebraska Investment Finance</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, SFMR</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">7.92</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">3/1/26</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">1,250,000 d,e</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">1,263,050</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">Nevada--3.8%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Clark County,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">IDR (Nevada Power Co. Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.60</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">10/1/30</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">3,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,003,600</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Washoe County</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Reno-Sparks Convention</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Center) (Insured; FSA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.40</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">1/1/10</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">8,000,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">8,698,480</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Washoe County,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Water Facility Revenue (Sierra</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Pacific Power Co. Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
<FONT size=1 face="sans-serif">7/1/09</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">5,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,034,700</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">New Hampshire--3.4%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=13% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
</TABLE><BR>

<HR noshade align="center" width="100%" size=2>


<A name="page_5"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">New Hampshire Business Finance</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, PCR (Public Service</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Co.) (Insured; MBIA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5/1/21</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">2,690,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
<FONT size=1 face="sans-serif">2,836,632</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">New Hampshire Business Finance</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, PCR (Public Service</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Co.) (Insured; MBIA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5/1/21</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">6,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
<FONT size=1 face="sans-serif">6,327,060</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">New Hampshire Industrial</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Development Authority, PCR</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Connecticut Light and Power</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Company Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.90</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">11/1/16</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">5,400,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
<FONT size=1 face="sans-serif">5,551,740</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">New Jersey--3.7%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">New Jersey Economic Development</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, Special Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Revenue (Continental Airlines,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Inc. Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">9/15/19</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">4,620,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
<FONT size=1 face="sans-serif">4,707,364</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Tobacco Settlement Financing Corp.</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">of New Jersey, Tobacco</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Settlement Asset-Backed Bonds</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">7.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6/1/41</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">10,095,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
<FONT size=1 face="sans-serif">11,511,329</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">New York--8.9%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">New York City</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">8/1/28</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">5,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
<FONT size=1 face="sans-serif">5,249,050</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">New York City Industrial</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Development Agency, PILOT</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Revenue (Yankee Stadium</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Project) (Insured; FGIC)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">4.50</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">3/1/39</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">5,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
<FONT size=1 face="sans-serif">4,983,900</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">New York City Industrial</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Development Agency, Special</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Facility Revenue (American</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Airlines, Inc. John F. Kennedy</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">International Airport Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">8.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">8/1/28</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">3,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
<FONT size=1 face="sans-serif">3,547,980</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">New York City Industrial</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Development Agency, Special</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Facility Revenue (American</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Airlines, Inc. John F. Kennedy</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">International Airport Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">7.75</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">8/1/31</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">10,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
<FONT size=1 face="sans-serif">11,601,500</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">New York Liberty Development</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=43% nowrap colspan=3>
<FONT size=1 face="sans-serif">Corp., Revenue (Goldman Sachs</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Headquarters Issue)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">10/1/35</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">7,500,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
<FONT size=1 face="sans-serif">8,487,750</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">New York State Dormitory</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, Revenue (Marymount</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Manhattan College) (Insured;</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Radian)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">7/1/29</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">4,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
<FONT size=1 face="sans-serif">4,277,640</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">New York State Dormitory</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, Revenue (Suffolk</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">County Judicial Facility)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">9.50</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">4/15/14</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">605,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
<FONT size=1 face="sans-serif">826,497</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">North Carolina--.6%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">North Carolina Eastern Municipal</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Power Agency, Power Systems</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.70</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">1/1/19</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">2,500,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
<FONT size=1 face="sans-serif">2,725,100</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">Ohio--5.3%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Cuyahoga County,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Hospital Facilities Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=43% nowrap colspan=3>
<FONT size=1 face="sans-serif">(UHHS/CSAHS-Cuyahoga, Inc. and</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=15% nowrap>
&nbsp;
        </TD>
</TR>
</TABLE><BR>

<HR noshade align="center" width="100%" size=2>


<A name="page_6"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">CSAHS/UHHS-Canton, Inc.</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">7.50</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">1/1/30</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">3,500,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,877,510</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Cuyahoga County,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Hospital Improvement Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(The Metrohealth Systems</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.15</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">2/15/09</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">10,000,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">10,690,200</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Ohio Air Quality Development</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, PCR (Cleveland</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Electric Illumimating Co.</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Project) (Insured; ACA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.10</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">8/1/20</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">2,400,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,479,824</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Ohio Housing Finance Agency,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Residential Mortgage Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Mortgage-Backed Securities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Program) (Collateralized; GNMA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.15</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">3/1/29</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">1,885,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">1,940,362</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Ohio Water Development Authority,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Pollution Control Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Revenue (Cleveland Electric</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Illuminating Co. Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Insured; ACA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.10</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">8/1/20</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">4,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">4,133,040</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">Oklahoma--3.4%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Oklahoma Development Finance</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, Revenue (Saint John</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Health System)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">2/15/29</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">9,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">9,531,900</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Oklahoma Industries Authority,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Health System Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Obligated Group) (Insured;</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">MBIA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.75</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">8/15/09</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">2,105,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,247,887</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Oklahoma Industries Authority,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Health System Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Obligated Group) (Insured;</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">MBIA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.75</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">8/15/29</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">2,895,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,063,923</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">Oregon--1.2%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Oregon,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">GO (Veterans Welfare)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">10/1/42</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">2,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,039,000</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Western Generation Agency,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Cogeneration Project Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Wauna Cogeneration Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">7.40</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">1/1/16</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">3,250,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,262,285</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">Pennsylvania--2.6%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Allegheny County Port Authority,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Special Transporation Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Insured; MBIA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.13</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">3/1/09</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">4,750,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,078,938</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Lehman Municipal Trust Receipts</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Pennsylvania Economic</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Development Financing</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">7.70</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6/1/31</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">3,500,000 d,e</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,802,470</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Pennsylvania Economic Development</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Financing Authority, Exempt</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Facilities Revenue (Reliant</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Energy Seward, LLC Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.75</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">12/1/36</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">2,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,148,420</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Pennsylvania Housing Finance</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Agency, Multi-Family</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Development Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">8.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">12/15/19</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">241,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">241,552</FONT>&nbsp;
        </TD>
</TR>
</TABLE><BR>

<HR noshade align="center" width="100%" size=2>


<A name="page_7"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=32% nowrap>
<B><FONT size=1 face="sans-serif">Rhode Island--1.5%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Rhode Island Health and</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Educational Building Corp.,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=43% nowrap colspan=3>
<FONT size=1 face="sans-serif">Higher Educational Facilities Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">(University of Rhode Island)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">(Insured; MBIA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">5.88</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">9/15/09</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">5,910,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">6,351,477</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<B><FONT size=1 face="sans-serif">South Carolina--8.0%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Greenville County School District,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Installment Purchase Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">(Building Equity Sooner for</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Tomorrow)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">7.32</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">12/1/28</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">9,500,000 d,e</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">11,506,875</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Greenville Hospital System,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Hospital Facilities Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">(Insured; AMBAC)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">5.50</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5/1/26</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">7,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">7,503,790</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Medical University of South</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Carolina, Hospital Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">7/1/09</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">5,000,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,367,500</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Richland County,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">EIR (International Paper Co.)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">6.10</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">4/1/23</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">6,500,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">7,054,255</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Securing Assets for Education,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Installment Purchase Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">(Berkeley County School</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">District Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">5.13</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">12/1/30</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">3,280,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,439,769</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<B><FONT size=1 face="sans-serif">Tennessee--3.6%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Johnson City Health and</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Educational Facilities Board,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Hospital First Mortgage</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Revenue (Mountain States</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Health Alliance)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">7.50</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">7/1/25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">2,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,347,540</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Johnson City Health and</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Educational Facilities Board,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Hospital First Mortgage</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Revenue (Mountain States</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Health Alliance)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">7.50</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">7/1/33</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">4,875,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,693,269</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Memphis Center Revenue Finance</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Corp., Sports Facility Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">(Memphis Redbirds)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">6.50</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">9/1/28</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">6,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,939,820</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Tennessee Housing Development</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Agency (Homeownership Program)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">1/1/28</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">1,805,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">1,813,754</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<B><FONT size=1 face="sans-serif">Texas--18.5%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Alliance Airport Authority Inc.,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Special Facilities Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">(American Airlines, Inc.</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">7.50</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">12/1/29</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">5,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,013,900</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Cities of Dallas and Fort Worth,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Dallas/Fort Worth</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">International Airport,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Facility Improvement Corp.,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Revenue (Bombardier Inc.)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
<FONT size=1 face="sans-serif">6.15</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">1/1/16</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
<FONT size=1 face="sans-serif">3,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,033,300</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Gregg County Health Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Development Corp., HR (Good</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=32% nowrap>
<FONT size=1 face="sans-serif">Shephard Medical Center</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=9% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=22% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
</TABLE><BR>

<HR noshade align="center" width="100%" size=2>


<A name="page_8"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Project) (Insured; Radian)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.38</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">10/1/25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">2,500,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,742,300</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Harris County Health Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Development Corp., HR</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Memorial Hermann Healthcare</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">System)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.38</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6/1/11</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">7,000,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">7,875,280</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Harris County-Houston Sports</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Authority, Revenue (Third</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Lien-A-3) (Insured; MBIA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">0.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">11/15/31</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">9,685,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,702,018</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Katy Independent School District</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Permanent School Fund</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Guaranteed)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.13</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">2/15/09</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">11,360,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">12,041,827</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Lubbock Texas Housing Financing</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Corp., SFMR (Collateralized:</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">FNMA and GNMA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.70</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">10/1/30</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">1,800,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">1,844,136</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Sabine River Authority,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">PCR (TXU Electric Co. Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.50</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">11/1/11</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">2,490,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,640,570</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Sabine River Authority,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">PCR (TXU Electric Co. Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.45</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6/1/21</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">4,900,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,233,984</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Texas</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Veterans)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">12/1/30</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">3,935,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">4,191,208</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Texas</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Veterans Housing Assistance</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Program) (Collateralized; FHA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.10</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6/1/31</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">8,510,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">8,962,221</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Texas Department of Housing and</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Community Affairs, Home</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Mortgage Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Collateralized: FHLMC, FNMA</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">and GNMA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">9.76</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">7/2/24</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">1,450,000 d</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">1,533,941</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Texas Department of Housing and</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Community Affairs, Residential</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Mortgage Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Collateralized: FHLMC, FNMA</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">and GNMA)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.35</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">7/1/33</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">5,265,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,409,103</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Texas Turnpike Authority,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Central Texas Turnpike System</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Revenue (Insured; AMBAC)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">8/15/42</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">6,775,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">7,212,326</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Tomball Hospital Authority,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Revenue (Tomball Regional</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Hospital)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">7/1/25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">4,650,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">4,842,138</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Tyler Health Facilities</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Development Corp., HR (East</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Texas Medical Center Regional</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Healthcare System Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">6.75</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">11/1/25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">5,850,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,926,635</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">Utah--.4%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Utah Housing Corp.,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">SFMR</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">5.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">7/1/37</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">1,640,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">1,663,714</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<B><FONT size=1 face="sans-serif">Virginia--5.3%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Henrico County Industrial</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=43% nowrap colspan=3>
<FONT size=1 face="sans-serif">Development Authority, Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">(Bon Secours Health System)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
<FONT size=1 face="sans-serif">8.18</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">8/23/27</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<FONT size=1 face="sans-serif">7,500,000 d</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">10,182,525</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Tobacco Settlement Financing Corp.</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">of Virginia, Tobacco</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=10% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
</TABLE><BR>

<HR noshade align="center" width="100%" size=2>


<A name="page_9"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Settlement Asset-Backed Bonds</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5.63</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">6/1/37</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">3,810,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,987,203</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Virginia Housing Development</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Authority, Rental Housing</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6.20</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">8/1/24</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">8,520,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">8,972,838</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=1 face="sans-serif">Washington--3.3%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Energy Northwest,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Revenue (Wind Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">1/1/07</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">3,670,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">3,807,809</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Washington Higher Educational</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Facilities Authority, Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">(Whitman College)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5.88</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">10/1/09</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">10,000,000 a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">10,665,500</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=1 face="sans-serif">Wisconsin--6.9%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Badger Tobacco Asset</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Securitization Corp., Tobacco</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Settlement Asset-Backed Bonds</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">7.35</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">6/1/27</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">4,815,000 d,e</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,448,702</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Badger Tobacco Asset</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Securitization Corp., Tobacco</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Settlement Asset-Backed Bonds</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">7.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">6/1/28</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">14,570,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">16,286,637</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Wisconsin Health and Educational</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Facilities Authority, Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">(Aurora Health Care)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6.40</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">4/15/33</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">5,500,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">6,104,670</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Wisconsin Health and Educational</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Facilities Authority, Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">(Marshfield Clinic)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5.38</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">2/15/34</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">2,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,107,360</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=1 face="sans-serif">Wyoming--3.6%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Sweetwater County,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">SWDR (FMC Corp. Project)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">5.60</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">12/1/35</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">5,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,264,250</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Wyoming Student Loan Corp.,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Student Loan Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6.20</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">6/1/24</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">5,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,308,850</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Wyoming Student Loan Corp.,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Student Loan Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">6.25</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">6/1/29</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">5,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">5,301,300</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=1 face="sans-serif">U.S. Related--.8%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Children's Trust Fund of Puerto</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Rico, Tobacco Settlement</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Asset-Backed Bonds</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">0.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">5/15/55</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">20,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">685,600</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Puerto Rico Infrastructure</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Financing Authority, Special</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Tax Revenue (Insured; AMBAC)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">0.00</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">7/1/35</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">10,000,000</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,666,000</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=43% nowrap colspan=3>
<B><FONT size=1 face="sans-serif">Total Long-Term Municipal Investments</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">(cost $578,877,589)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<B><FONT size=1 face="sans-serif">608,630,194</FONT></B>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=2 face="sans-serif">Short-Term Municipal</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<B><FONT size=2 face="sans-serif">Coupon</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=2 face="sans-serif">Maturity</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<B><FONT size=2 face="sans-serif">Principal</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=2 face="sans-serif">Investments--.8%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<B><FONT size=2 face="sans-serif">Rate (%)</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=2 face="sans-serif">Date</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<B><FONT size=2 face="sans-serif">Amount ($)</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<B><FONT size=2 face="sans-serif">Value ($)</FONT></B>&nbsp;
        </TD>
</TR>
<TR>
        <TD>
<HR noshade size=1>
        </TD>
        <TD>
        </TD>
        <TD>
<HR noshade size=1>
        </TD>
        <TD>
        </TD>
        <TD>
<HR noshade size=1>
        </TD>
        <TD>
        </TD>
        <TD>
<HR noshade size=1>
        </TD>
        <TD>
        </TD>
        <TD>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=1 face="sans-serif">Florida--.4%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">University Athletic Association,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Inc., Athletic Program Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">(LOC; SunTrust Bank)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">3.55</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">9/1/06</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">1,575,000 f</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">1,575,000</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<B><FONT size=1 face="sans-serif">Pennsylvania--.4%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Geisinger Authority,</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Health System Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">(Geisinger Health System)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">(Liquidity Facility; Wachovia</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">Bank)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
<FONT size=1 face="sans-serif">3.54</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<FONT size=1 face="sans-serif">9/1/06</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
<FONT size=1 face="sans-serif">2,000,000 f</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<FONT size=1 face="sans-serif">2,000,000</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=43% nowrap colspan=3>
<B><FONT size=1 face="sans-serif">Total Short-Term Municipal Investments</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=29% nowrap>
<FONT size=1 face="sans-serif">(cost $3,575,000)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=12% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=23% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<B><FONT size=1 face="sans-serif">3,575,000</FONT></B>&nbsp;
        </TD>
</TR>
</TABLE><BR>

<HR noshade align="center" width="100%" size=2>


<A name="page_10"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=56% nowrap colspan=3>
<B><FONT size=1 face="sans-serif">Total Investments </FONT></B><FONT size=1 face="sans-serif">(cost $582,452,589)</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<B><FONT size=1 face="sans-serif">140.1%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=16% nowrap>
<B><FONT size=1 face="sans-serif">612,205,194</FONT></B>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% nowrap colspan=3>
<B><FONT size=1 face="sans-serif">Cash and Receivables (Net)</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<B><FONT size=1 face="sans-serif">2.5%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=16% nowrap>
<B><FONT size=1 face="sans-serif">10,848,849</FONT></B>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% nowrap colspan=3>
<B><FONT size=1 face="sans-serif">Preferred Stock, at redemption value</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<B><FONT size=1 face="sans-serif">(42.6%)</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=16% nowrap>
<B><FONT size=1 face="sans-serif">(186,000,000)</FONT></B>&nbsp;
        </TD>
</TR>
<TR>
        <TD colspan=7>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% nowrap colspan=3>
<B><FONT size=1 face="sans-serif">Net Assets Applicable to Common Shareholders</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
<B><FONT size=1 face="sans-serif">100.0%</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=16% nowrap>
<B><FONT size=1 face="sans-serif">437,054,043</FONT></B>&nbsp;
        </TD>
</TR>
<TR>
        <TD colspan=7>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=2% nowrap>
<FONT size=1 face="sans-serif">a</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=93% nowrap colspan=5>
<FONT size=1 face="sans-serif">These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=2% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=93% nowrap colspan=5>
<FONT size=1 face="sans-serif">collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on the</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=2% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=75% nowrap colspan=3>
<FONT size=1 face="sans-serif">municipal issue and to retire the bonds in full at the earliest refunding date.</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=16% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=2% nowrap>
<FONT size=1 face="sans-serif">b</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=52% nowrap>
<FONT size=1 face="sans-serif">Non-income producing security; interest payments in default.</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=16% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=2% nowrap>
<FONT size=1 face="sans-serif">c</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=52% nowrap>
<FONT size=1 face="sans-serif">Purchased on a delayed delivery basis.</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=21% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=16% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=2% nowrap>
<FONT size=1 face="sans-serif">d</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=75% nowrap colspan=3>
<FONT size=1 face="sans-serif">Inverse floater security--the interest rate is subject to change periodically.</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=16% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=2% nowrap>
<FONT size=1 face="sans-serif">e</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=93% nowrap colspan=5>
<FONT size=1 face="sans-serif">Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=2% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=93% nowrap colspan=5>
<FONT size=1 face="sans-serif">transactions exempt from registration, normally to qualified institutional buyers. At August 31, 2006, these securities</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=2% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=75% nowrap colspan=3>
<FONT size=1 face="sans-serif">amounted to $22,021,097 or 5.0% of net assets applicable to Common Shareholders.</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=16% nowrap>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=2% nowrap>
<FONT size=1 face="sans-serif">f</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=75% nowrap colspan=3>
<FONT size=1 face="sans-serif">Securities payable on demand. Variable interest rate--subject to periodic change.</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=16% nowrap>
&nbsp;
        </TD>
</TR>
</TABLE><BR>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=100% nowrap>
<FONT size=1 face="sans-serif">Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi-</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% nowrap>
<FONT size=1 face="sans-serif">annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.</FONT>&nbsp;
        </TD>
</TR>
</TABLE><BR>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=46% nowrap colspan=3>
<FONT size=2 face="sans-serif">Summary of Abbreviations</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
&nbsp;
        </TD>
</TR>
<TR>
        <TD colspan=3>
<HR noshade size=1>
        </TD>
        <TD>
        </TD>
        <TD>
<HR noshade size=1>
        </TD>
        <TD>
        </TD>
        <TD>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">ACA</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">American Capital Access</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">AGC</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">ACE Guaranty Corporation</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">AGIC</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Asset Guaranty Insurance Company</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">AMBAC</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">American Municipal Bond Assurance Corporation</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">ARRN</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Adjustable Rate Receipt Notes</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">BAN</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Bond Anticipation Notes</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">BIGI</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Bond Investors Guaranty Insurance</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">BPA</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Bond Purchase Agreement</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">CGIC</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Capital Guaranty Insurance Company</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">CIC</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Continental Insurance Company</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">CIFG</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">CDC Ixis Financial Guaranty</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">CMAC</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Capital Market Assurance Corporation</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">COP</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Certificate of Participation</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">CP</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Commercial Paper</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">EDR</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Economic Development Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">EIR</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Environmental Improvement Revenue</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">FGIC</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Financial Guaranty Insurance Company</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">FHA</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Federal Housing Administration</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">FHLB</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Federal Home Loan Bank</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">FHLMC</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Federal Home Loan Mortgage Corporation</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">FNMA</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Federal National Mortgage Association</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">FSA</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Financial Security Assurance</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">GAN</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Grant Anticipation Notes</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">GIC</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Guaranteed Investment Contract</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">GNMA</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Government National Mortgage Association</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">GO</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">General Obligation</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">HR</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Hospital Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">IDB</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Industrial Development Board</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">IDC</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Industrial Development Corporation</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">IDR</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Industrial Development Revenue</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">LOC</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Letter of Credit</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">LOR</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Limited Obligation Revenue</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">LR</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Lease Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">MBIA</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Municipal Bond Investors Assurance Insurance</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Corporation</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">MFHR</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Multi-Family Housing Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">MFMR</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Multi-Family Mortgage Revenue</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=8% nowrap>
<B><FONT size=1 face="sans-serif">PCR</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Pollution Control Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=11% nowrap>
<B><FONT size=1 face="sans-serif">PILOT</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=37% nowrap>
<FONT size=1 face="sans-serif">Payment-In-Lieu-Of Taxes</FONT>&nbsp;
        </TD>
</TR>
</TABLE><BR>

<HR noshade align="center" width="100%" size=2>


<A name="page_11"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=10% nowrap>
<B><FONT size=1 face="sans-serif">RAC</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Revenue Anticipation Certificates</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<B><FONT size=1 face="sans-serif">RAN</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Revenue Anticipation Notes</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=10% nowrap>
<B><FONT size=1 face="sans-serif">RAW</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Revenue Anticipation Warrants</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<B><FONT size=1 face="sans-serif">RRR</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Resources Recovery Revenue</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=10% nowrap>
<B><FONT size=1 face="sans-serif">SAAN</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">State Aid Anticipation Notes</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<B><FONT size=1 face="sans-serif">SBPA</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Standby Bond Purchase Agreement</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=10% nowrap>
<B><FONT size=1 face="sans-serif">SFHR</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Single Family Housing Revenue</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<B><FONT size=1 face="sans-serif">SFMR</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Single Family Mortgage Revenue</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=10% nowrap>
<B><FONT size=1 face="sans-serif">SONYMA</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">State of New York Mortgage Agency</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<B><FONT size=1 face="sans-serif">SWDR</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Solid Waste Disposal Revenue</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=10% nowrap>
<B><FONT size=1 face="sans-serif">TAN</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Tax Anticipation Notes</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<B><FONT size=1 face="sans-serif">TAW</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">Tax Anticipation Warrants</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=10% nowrap>
<B><FONT size=1 face="sans-serif">TRAN</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=36% nowrap>
<FONT size=1 face="sans-serif">Tax and Revenue Anticipation Notes</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=14% nowrap>
<B><FONT size=1 face="sans-serif">XLCA</FONT></B>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=31% nowrap>
<FONT size=1 face="sans-serif">XL Capital Assurance</FONT>&nbsp;
        </TD>
</TR>
</TABLE><BR>

<HR noshade align="center" width="100%" size=2>
















<P>
<B><FONT size=2 face="serif">Item 2. Controls and Procedures.</FONT></B><FONT size=2 face="serif"> </FONT></P>
<P>
<FONT size=2 face="serif">(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of
this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time
periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial
officers, as appropriate to allow timely decisions regarding required disclosure. </FONT></P>
<P>
<FONT size=2 face="serif">(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to
materially affect, the Registrant's internal control over financial reporting.</FONT></P>
<P>
<B><FONT size=2 face="serif">Item 3. Exhibits.</FONT></B><FONT size=2 face="serif"> </FONT></P>
<P>
<FONT size=2 face="serif">(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. </FONT></P>

<HR noshade align="center" width="100%" size=2>



<P align="center">
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">SIGNATURES</FONT></B><BR>
</TD></TR></TABLE>

<P>
<FONT size=2 face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly
authorized. </FONT></P>
<P>
<FONT size=2 face="serif">Dreyfus Strategic Municipal Bond Fund, Inc.</FONT></P>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
	<TD width=22% nowrap>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=75% nowrap>
<U><FONT size=2 face="serif">/s/ Stephen E. Canter</FONT></U>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=22% nowrap>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=75% nowrap>
<FONT size=2 face="serif">Stephen E. Canter</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=22% nowrap>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=75% nowrap>
<FONT size=2 face="serif">President</FONT>&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=3>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=22% nowrap>
<FONT size=2 face="serif">Date:</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=75% nowrap>
<FONT size=2 face="serif">October 18, 2006</FONT>&nbsp;
	</TD>
</TR>
</TABLE><BR>
<P>
<FONT size=2 face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on
the dates indicated. </FONT></P>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
	<TD width=6% nowrap>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=91% nowrap>
<U><FONT size=2 face="serif">/s/ Stephen E. Canter</FONT></U>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=91% nowrap>
<FONT size=2 face="serif">Stephen E. Canter</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=91% nowrap>
<FONT size=2 face="serif">Chief Executive Officer</FONT>&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=3>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap>
<FONT size=2 face="serif">Date:</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=91% nowrap>
<FONT size=2 face="serif">October 18, 2006</FONT>&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=3>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=91% nowrap>
<U><FONT size=2 face="serif">/s/ James Windels</FONT></U>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=91% nowrap>
<FONT size=2 face="serif">James Windels</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=91% nowrap>
<FONT size=2 face="serif">Chief Financial Officer</FONT>&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=3>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap>
<FONT size=2 face="serif">Date:</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=91% nowrap>
<FONT size=2 face="serif">October 18, 2006</FONT>&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=3>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=100% colspan=3>
<B><FONT size=2 face="serif">EXHIBIT INDEX</FONT></B>
	</TD>
</TR>
<TR>
	<TD colspan=3>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=91% nowrap>
<FONT size=2 face="serif">(a) Certifications of principal executive and principal financial officers as required by Rule 30a-</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=91% nowrap>
<FONT size=2 face="serif">2(a) under the Investment Company Act of 1940. (EX-99.CERT)</FONT>&nbsp;
	</TD>
</TR>
</TABLE><BR>

<HR noshade align="center" width="100%" size=2>

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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>cert-852.htm
<DESCRIPTION>CERTIFICATION
<TEXT>

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   <TITLE>cert-852</TITLE>
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<A name="page_1"></A>

<P align="center">
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">SECTION 302 CERTIFICATION</FONT></B><BR>
</TD></TR></TABLE>

<P>
<FONT size=2 face="serif">I, Stephen E. Canter, certify that:</FONT></P>
<P>
<FONT size=2 face="serif">1. I have reviewed this report on Form N-Q of Dreyfus Strategic Municipal Bond Fund, Inc.</FONT><FONT face="serif">; </FONT></P>
<P>
<FONT size=2 face="serif">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by this report; </FONT></P>
<P>
<FONT size=2 face="serif">3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
</FONT></P>
<P>
<FONT size=2 face="serif">4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </FONT></P>
<P>
<FONT size=2 face="serif">(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </FONT></P>
<P>
<FONT size=2 face="serif">(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; </FONT></P>
<P>
<FONT size=2 face="serif">(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90
days prior to the filing date of this report based on such evaluation; and </FONT></P>
<P>
<FONT size=2 face="serif">(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the registrant's internal control over financial reporting;</FONT></P>
<P>
<FONT size=2 face="serif">5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): </FONT></P>
<P>
<FONT size=2 face="serif">(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process,
summarize, and report financial information; and </FONT></P>
<P>
<FONT size=2 face="serif">(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. </FONT></P>
<TABLE border=0 align="center" cellspacing=1 cellpadding=0>
<TR valign="bottom">
	<TD width=20% nowrap>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=77% nowrap>
<U><FONT size=2 face="serif">/s/ Stephen E. Canter</FONT></U>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=20% nowrap>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=77% nowrap>
<FONT size=2 face="serif">Stephen E. Canter</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=20% nowrap>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=77% nowrap>
<FONT size=2 face="serif">Chief Executive Officer</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=20% nowrap>
<FONT size=2 face="serif">Date:</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=77% nowrap>
<FONT size=2 face="serif">October 18, 2006</FONT>&nbsp;
	</TD>
</TR>
</TABLE><BR>

<HR noshade align="center" width="100%" size=2>


<A name="page_2"></A>

<P align="center">
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">SECTION 302 CERTIFICATION</FONT></B><BR>
</TD></TR></TABLE>

<P>
<FONT size=2 face="serif">I, James Windels, certify that:</FONT></P>
<P>
<FONT size=2 face="serif">1. I have reviewed this report on Form N-Q of Dreyfus Strategic Municipal Bond Fund, Inc.</FONT><FONT face="serif">; </FONT></P>
<P>
<FONT size=2 face="serif">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by this report; </FONT></P>
<P>
<FONT size=2 face="serif">3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
</FONT></P>
<P>
<FONT size=2 face="serif">4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </FONT></P>
<P>
<FONT size=2 face="serif">(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </FONT></P>
<P>
<FONT size=2 face="serif">(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; </FONT></P>
<P>
<FONT size=2 face="serif">(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90
days prior to the filing date of this report based on such evaluation; and </FONT></P>
<P>
<FONT size=2 face="serif">(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the registrant's internal control over financial reporting;</FONT></P>
<P>
<FONT size=2 face="serif">5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): </FONT></P>
<P>
<FONT size=2 face="serif">(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process,
summarize, and report financial information; and </FONT></P>
<P>
<FONT size=2 face="serif">(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. </FONT></P>
<TABLE border=0 align="center" cellspacing=1 cellpadding=0>
<TR valign="bottom">
	<TD width=21% nowrap>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=76% nowrap>
<U><FONT size=2 face="serif">/s/ James Windels</FONT></U>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=20% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=77% nowrap>
<FONT size=2 face="serif">James Windels</FONT>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=21% nowrap>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=76% nowrap>
<FONT size=2 face="serif">Chief Financial Officer</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=21% nowrap>
<FONT size=2 face="serif">Date:</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=76% nowrap>
<FONT size=2 face="serif">October 18, 2006</FONT>&nbsp;
	</TD>
</TR>
</TABLE><BR>

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</SEC-DOCUMENT>
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