<SEC-DOCUMENT>0000855887-11-000010.txt : 20111028
<SEC-HEADER>0000855887-11-000010.hdr.sgml : 20111028
<ACCEPTANCE-DATETIME>20111028131333
ACCESSION NUMBER:		0000855887-11-000010
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20110831
FILED AS OF DATE:		20111028
DATE AS OF CHANGE:		20111028
EFFECTIVENESS DATE:		20111028

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:		111164387

	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>formnq-082.htm
<DESCRIPTION>FORM N-Q
<TEXT>

<HTML>
<HEAD>
   <TITLE>formnq-082.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">
<a name="page_1"></a><a name="_bclPageBorder1"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader1"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:24.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
  Washington, D.C.&#160; 20549</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">FORM N-Q</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">QUARTERLY SCHEDULE OF
PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT<br>
INVESTMENT COMPANY</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:638.000000pt;">
 <tr>
  <td colspan=3 valign=top width=42% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Investment Company Act file
  number</font></p>
  </td>
 <td colspan=4 valign=top width=58% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">811-5877</font></p>
  </td>
 </tr>
<tr>
  <td colspan=3 valign=top width=42% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=4 valign=top width=58% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">Dreyfus Strategic Municipal Bond Fund, Inc.</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">(Exact name of Registrant as specified in charter)</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">c/o The Dreyfus Corporation</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">200 Park Avenue</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">New York, New York  10166</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">(Address of principal executive offices)        (Zip
  code)</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">Michael A. Rosenberg, Esq.</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">200 Park Avenue</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">New York, New York  10166</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">(Name and address of agent for service)</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=7 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=4 valign=top width=55% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Registrant's telephone
  number, including area code:  </font></p>
  </td>
 <td colspan=3 valign=top width=45% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">(212) 922-6000</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=5 valign=top width=58% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 width=42% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p></td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=2 valign=top width=28% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Date of fiscal year end:</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=3 valign=top width=30% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">11/30</font></p>
  </td>
 <td colspan=2 width=42% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p></td>
 </tr>
<tr style="height:21.5pt;page-break-inside:avoid;">
  <td colspan=2 valign=top width=28% style="height:21.5pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Date of reporting period:</font></p>
  </td>
 <td colspan=3 valign=top width=30% style="height:21.5pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">8/31/2011</font></p>
  </td>
 <td colspan=2 width=42% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p></td>
 </tr>
<tr height=0>
  <td width=8%>&nbsp;</td>
 <td width=20%>&nbsp;</td>
 <td width=14%>&nbsp;</td>
 <td width=13%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=34%>&nbsp;</td>
 <td width=8%>&nbsp;</td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>









<a name="_bclFooter1"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
<A name="page_2"></A>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader2"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">FORM N-Q</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">Item 1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schedule of Investments.</FONT></B></P>

<a name="_bclFooter2"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_3"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 811px; HEIGHT: 899px" cellSpacing=0 border=0>



<TR>

   <TD width="31%"></TD>

   <TD width="13%"></TD>

   <TD width="12%"></TD>

   <TD width="25%"></TD>

   <TD width="3%"></TD>

   <TD width="14%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left colSpan=2><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>STATEMENT OF INVESTMENTS</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left colSpan=2><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Dreyfus Strategic Municipal Bond Fund, Inc.</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>August 31, 2011 (Unaudited)</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR>

   <TD colSpan=6>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Long-Term Municipal</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Coupon</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Maturity</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Principal</FONT></B></TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Investments--146.9%</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Rate (%)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Date</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Amount ($)</FONT></B></TD>

   <TD align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Value ($)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Arizona--7.6%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Receipts (Salt River Project</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Agricultural Improvement and</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Power District, Salt River</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project Electric System</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 7px" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>13,198,367</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>13,775,603</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Glendale Western Loop 101 Public</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Corporation, Third</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Lien Excise Tax Revenue</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 7px" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/33</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,010,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,346,259</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Pima County Industrial Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Education Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(American Charter Schools</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Foundation Project)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 7px" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/26</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,461,320</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Pima County Industrial Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, IDR (Tucson</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Electric Power Company Project)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 7px" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/29</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,079,920</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>California--15.8%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Receipts (Los Angeles</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Department of Airports, Senior</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Los Angeles</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>International Airport))</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 7px" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/31</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,247,500 a,b,c</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,540,818</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>California,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 7px" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/31</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,800,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8,480,238</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>California,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 7px" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/1/33</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,250,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,543,017</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>California,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 7px" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/33</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,776,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>California,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 7px" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,534,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>California Statewide Communities</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_4"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 783px; HEIGHT: 947px" cellSpacing=0 border=0>



<TR>

   <TD width="34%"></TD>

   <TD width="9%"></TD>

   <TD width="13%"></TD>

   <TD width="23%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Front Porch Communities and</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Services Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/37</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,975,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,095,171</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Golden State Tobacco</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securitization Corporation,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/27</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,557,680</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Golden State Tobacco</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securitization Corporation,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/33</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8,335,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,835,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Los Angeles Department of Water</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>and Power, Power System Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,885,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,007,930</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sacramento City Unified School</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>District, GO (Insured; Assured</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>0.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/24</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,220,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>d</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,629,888</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sacramento County,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Airport System Subordinate and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Passenger Facility Charges</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Grant Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,262,160</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>San Buenaventura,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Community Memorial</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Health System)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/41</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,489,095</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>San Diego Public Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Financing Authority, Senior</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sewer Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/34</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,643,300</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Santa Margarita/Dana Point</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Santa</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Margarita Water District</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Improvement Districts Numbers</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,3 and 4)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,191,300</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Silicon Valley Tobacco</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securitization Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds (Santa</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Clara County Tobacco</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securitization Corporation)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>0.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/36</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>15,290,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>d</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,285,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tuolumne Wind Project Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Tuolumne Company</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/29</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,217,420</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_5"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 792px; HEIGHT: 953px" cellSpacing=0 border=0>



<TR>

   <TD width="33%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="23%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Colorado--.9%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Arkansas River Power Authority,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Power Improvement Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,499,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Colorado Housing and Finance</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Single Family</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Program Senior and Subordinate</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Bonds (Collateralized; FHA)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.60</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>955,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,040,129</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Connecticut--1.3%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Connecticut Resources Recovery</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Special Obligation</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (American REF-FUEL</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Company of Southeastern</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Connecticut Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.45</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/22</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,985,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,984,601</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>District of Columbia--.3%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Metropolitan Washington Airports</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Special Facility</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Caterair</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>International Corporation)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/11</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,000,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Florida--7.7%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Florida,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Department of Transportation</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Right-of-Way Acquisition and</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Bridge Construction Bonds</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/24</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,972,325</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Highlands County Health Facilities</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, HR (Adventist</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Health System/Sunbelt</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Obligated Group)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/27</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,587,710</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mid-Bay Bridge Authority,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Springing Lien Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,164,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Orange County School Board,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>COP (Master Lease Purchase</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Agreement) (Insured; Assured</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,737,015</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Palm Beach County Health</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Authority,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Retirement Community Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Adult Communities Total</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Services, Inc. Retirement -</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Life Communities, Inc.</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Obligated Group)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>

   <TD align=middle><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/33</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,825,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,545,858</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_6"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 788px; HEIGHT: 953px" cellSpacing=0 border=0>



<TR>

   <TD width="33%"></TD>

   <TD width="11%"></TD>

   <TD width="13%"></TD>

   <TD width="23%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Saint Johns County Industrial</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Presbyterian Retirement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Communities Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/45</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,509,345</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>South Lake County Hospital</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>District, Revenue (South Lake</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hospital, Inc.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,531,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Georgia--4.6%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Atlanta,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Airport General Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/26</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,500,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,605,035</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Atlanta,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Water and Wastewater Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/28</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,865,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,443,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Atlanta,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Water and Wastewater Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,750,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,941,512</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Augusta,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Airport Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.45</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/31</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,500,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,214,925</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Savannah Economic Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, EIR (International</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Paper Company Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/27</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,670,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,711,652</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Hawaii--1.2%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hawaii Department of Budget and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Finance, Special Purpose</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Hawai'i Pacific</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Health Obligated Group)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/30</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,516,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hawaii Department of Budget and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Finance, Special Purpose</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Hawaiian Electric</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Company, Inc. and Subsidiary</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Projects)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,128,320</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Idaho--.0%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Idaho Housing and Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Association, SFMR</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Collateralized; FNMA)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.35</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/30</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>185,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>185,209</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Illinois--3.2%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Chicago,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>General Airport Third Lien</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Chicago O'Hare</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>International Airport)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,191,190</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_7"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 786px; HEIGHT: 954px" cellSpacing=0 border=0>



<TR>

   <TD width="31%"></TD>

   <TD width="13%"></TD>

   <TD width="14%"></TD>

   <TD width="23%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Chicago,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SFMR (Collateralized: FHLMC,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>FNMA and GNMA)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>910,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>942,842</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Illinois,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GO</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/1/28</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,516,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Illinois Finance Authority,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Recovery Zone Facility Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Navistar International</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/15/40</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,010,720</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Illinois Finance Authority,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Sherman Health</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Systems)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/37</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,020,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>918,765</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Railsplitter Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/28</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,075,330</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Indiana--.7%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Indianapolis Local Public</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Improvement Bond Bank, Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Indianapolis Airport</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority Project) (Insured;</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>AMBAC)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/36</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,905,410</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Iowa--.4%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement Authority of</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Iowa, Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.60</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,651,940</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Kentucky--.3%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Louisville/Jefferson County Metro</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Government, Health Facilities</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Jewish Hospital and</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Saint Mary's HealthCare, Inc.</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/1/37</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,012,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Louisiana--2.0%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Lakeshore Villages Master</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Community Development</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>District, Special Assessment</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,987,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>e</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>994,295</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Louisiana Local Government</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Environmental Facilities and</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Community Development</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Westlake</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_8"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 801px; HEIGHT: 968px" cellSpacing=0 border=0>



<TR>

   <TD width="33%"></TD>

   <TD width="10%"></TD>

   <TD width="13%"></TD>

   <TD width="23%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Chemical Corporation Projects)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,122,440</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Louisiana Public Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Belle</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Chasse Educational Foundation</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/31</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,750,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,845,397</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Maine--.6%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Maine Health and Higher</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Educational Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(MaineGeneral Medical Center</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Issue)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,163,020</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Maryland--.4%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Maryland Economic Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, Senior Student</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Housing Revenue (University of</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Maryland, Baltimore Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/33</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,550,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,684,708</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Massachusetts--12.9%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Receipts (Massachusetts Health</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>and Educational Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Massachusetts Institute of</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Technology Issue))</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,200,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,842,702</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Trust (Massachusetts,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Consolidated Loan)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,400,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,217,408</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Trust (Massachusetts</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Finance Agency,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Harvard University</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Issue))</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11,277,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Massachusetts Development Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Agency, Revenue (Tufts Medical</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Center Issue)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,765,775</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Massachusetts Health and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Educational Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Civic</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Investments Issue)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/15/12</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,500,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>f</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,654,380</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Massachusetts Health and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Educational Facilities</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_9"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 790px; HEIGHT: 948px" cellSpacing=0 border=0>



<TR>

   <TD width="33%"></TD>

   <TD width="10%"></TD>

   <TD width="14%"></TD>

   <TD width="23%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Partners</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>HealthCare System Issue)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>115,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>116,117</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Massachusetts Health and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Educational Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Suffolk</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>University Issue)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/30</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,297,550</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Massachusetts Housing Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Agency, Housing Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,562,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Massachusetts Housing Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Agency, SFHR</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/31</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,575,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,579,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Michigan--7.8%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Detroit,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sewage Disposal System Senior</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Lien Revenue (Insured; Assured</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/33</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,144,525</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Kent Hospital Finance Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Metropolitan Hospital</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,834,260</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Michigan Strategic Fund,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>LOR (State of Michigan</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Cadillac Place Office Building</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/15/31</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,664,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Michigan Strategic Fund,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SWDR (Genesee Power Station</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,020,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,576,055</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Royal Oak Hospital Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, HR (William</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Beaumont Hospital Obligated</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Group)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/29</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,822,300</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Wayne County Airport Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Airport Revenue (Detroit</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Metropolitan Wayne County</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Airport) (Insured; National</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Public Finance Guarantee Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8,260,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,579,211</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Mississippi--1.1%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mississippi Business Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, PCR (System</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Energy Resources, Inc. Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.90</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/22</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,260,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,259,574</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Nevada--1.3%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Clark County,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_10"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 800px; HEIGHT: 955px" cellSpacing=0 border=0>



<TR>

   <TD width="33%"></TD>

   <TD width="10%"></TD>

   <TD width="13%"></TD>

   <TD width="24%"></TD>

   <TD width="3%"></TD>

   <TD width="14%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Passenger Facility Charge</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Las Vegas-McCarran</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>International Airport)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/30</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,145,550</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>New Hampshire--1.4%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New Hampshire Industrial</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, PCR</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Connecticut Light and Power</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Company Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.90</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,400,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,410,908</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>New Jersey--5.1%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New Jersey Economic Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, School Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Construction Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/15/29</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,394,950</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New Jersey Economic Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Water Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (New Jersey - American</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Water Company, Inc. Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.70</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,086,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement Financing</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation of New Jersey,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/29</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>250,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>184,073</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement Financing</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation of New Jersey,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,095,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>f</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11,271,774</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>New Mexico--1.2%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Farmington,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>PCR (Public Service Company of</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New Mexico San Juan Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.90</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,869,950</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>New York--14.0%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Austin Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Port Authority of New York</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>and New Jersey, Consolidated</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Bonds, 151st Series)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/15/28</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,000,000 a,b,c</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11,055,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Receipts (New York City</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Transitional Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Future Tax Secured</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/30</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,488,203</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,838,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_11"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 811px; HEIGHT: 950px" cellSpacing=0 border=0>



<TR>

   <TD width="34%"></TD>

   <TD width="9%"></TD>

   <TD width="13%"></TD>

   <TD width="23%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Receipts (New York City</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Transitional Finance</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Future Tax Secured</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Subordinate Revenue)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/27</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,776,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Trust (New York City</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Transitional Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Future Tax Secured</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Subordinate Revenue)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,763,450</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Long Island Power Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Electric System General Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/33</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,413,490</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Metropolitan Transportation</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Transportation</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/23</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8,425,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9,957,592</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New York City Educational</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Construction Fund, Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/28</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,785,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,343,225</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New York City Industrial</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Agency, Special</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facility Revenue (American</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Airlines, Inc. John F. Kennedy</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>International Airport Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/31</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,009,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New York State Dormitory</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Suffolk</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>County Judicial Facility)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/15/14</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>605,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>730,023</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Port Authority of New York and New</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Jersey, Special Project Bonds</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(JFK International Air</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Terminal LLC Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/36</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,710,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,806,602</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>North Carolina--3.1%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Receipts (North Carolina</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Medical Care Commission,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Health Care Facilities Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Duke University Health</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>System))</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/42</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,176,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>North Carolina Housing Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Agency, Home Ownership Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/31</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,955,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,956,369</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Ohio--3.8%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Butler County,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hospital Facilities Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_12"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 804px; HEIGHT: 945px" cellSpacing=0 border=0>



<TR>

   <TD width="33%"></TD>

   <TD width="10%"></TD>

   <TD width="13%"></TD>

   <TD width="23%"></TD>

   <TD width="3%"></TD>

   <TD align=right width="14%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(UC Health)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,736,840</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ohio Air Quality Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Air Quality Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Ohio Valley Electric</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,200,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,496,478</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Port of Greater Cincinnati</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, Tax</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Increment Development Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Fairfax Village Red Bank</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Infrastructure Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/1/36</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,530,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,844,901</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>University of Akron,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>General Receipts Bonds</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/22</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,616,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Oregon--.4%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Warm Springs Reservation</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Confederated Tribes,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hydroelectric Revenue (Pelton</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Round Butte Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/33</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,515,795</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Pennsylvania--3.0%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Delaware County Industrial</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, Charter</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>School Revenue (Chester</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Community Charter School</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/15/40</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,248,245</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Trust (Geisinger Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Health System Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Geisinger Health System))</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,084,390</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Philadelphia,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GO</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/41</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,700,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,262,966</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Rhode Island--1.5%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Rhode Island Health and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Educational Building</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, Hospital</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Financing Revenue (Lifespan</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Obligated Group Issue)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/39</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,691,100</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Tennessee--1.6%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_13"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 803px; HEIGHT: 970px" cellSpacing=0 border=0>



<TR>

   <TD width="33%"></TD>

   <TD width="11%"></TD>

   <TD width="13%"></TD>

   <TD width="23%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Metropolitan Government of</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Nashville and Davidson County</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Health and Educational</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Board, Revenue (The</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Vanderbilt University)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/29</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,869,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Metropolitan Government of</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Nashville and Davidson County</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Health and Educational</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Board, Revenue (The</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Vanderbilt University)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,342,060</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Texas--22.2%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Receipts (Leander Independent</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>School District, Unlimited Tax</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>School Building Bonds</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Permanent School Fund</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guarantee Program))</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/15/40</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9,997,299</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,529,749</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Receipts (Texas A&amp;M University</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>System Board of Regents,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Financing System Revenue)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/39</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>13,160,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>14,053,827</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Dallas-Fort Worth International</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Airport Facility Improvement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, Revenue (Learjet</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Inc. Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,999,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Harris County Health Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Corporation, HR</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Memorial Hermann Healthcare</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>System)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9,290,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,391,422</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Harris County Health Facilities</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Corporation,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (CHRISTUS Health)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,682,025</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Houston,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Combined Utility System First</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Lien Revenue (Insured; Assured</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/36</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,683,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Matagorda County Navigation</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>District Number One, Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Houston Lighting and Power</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_14"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 795px; HEIGHT: 953px" cellSpacing=0 border=0>



<TR>

   <TD width="33%"></TD>

   <TD width="11%"></TD>

   <TD width="13%"></TD>

   <TD width="23%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Company Project) (Insured;</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>AMBAC)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/28</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,295,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,451,596</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>North Texas Tollway Authority,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>First Tier System Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>14,705,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>15,471,425</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>North Texas Tollway Authority,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Second Tier System Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,650,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,651,130</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Texas Department of Housing and</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Community Affairs, Home</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mortgage Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Collateralized: FHLMC, FNMA</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>and GNMA)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12.95</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/2/24</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>700,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>g</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>865,452</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Texas Department of Housing and</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Community Affairs, Residential</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mortgage Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Collateralized: FHLMC, FNMA</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>and GNMA)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.35</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/33</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,540,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,556,843</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Texas Turnpike Authority,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Central Texas Turnpike System</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Insured; AMBAC)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/15/42</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,375,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,375,323</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tomball Hospital Authority,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue (Tomball Regional</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hospital)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,650,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,438,658</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Virginia--4.3%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Henrico County Industrial</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Bon Secours Health System)</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11.57</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/23/27</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,200,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>g</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8,162,208</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Virginia Housing Development</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Commonwealth</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mortgage Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/31</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,140,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,455,699</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Washington County Industrial</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Development Authority, HR</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Mountain States Health</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Alliance)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,392,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Washington--1.7%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Washington Health Care Facilities</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Mortgage Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_15"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 799px; HEIGHT: 951px" cellSpacing=0 border=0>



<TR>

   <TD width="34%"></TD>

   <TD width="10%"></TD>

   <TD width="13%"></TD>

   <TD width="22%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Highline Medical Center)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Collateralized; FHA)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/36</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,975,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,595,922</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>West Virginia--2.0%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>The County Commission of Harrison</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>County, SWDR (Allegheny Energy</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Supply Company, LLC Harrison</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Station Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/15/37</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,920,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,663,788</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Wisconsin--6.0%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Badger Tobacco Asset</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securitization Corporation,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/12</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,865,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>f</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,006,459</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Badger Tobacco Asset</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Securitization Corporation,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/12</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>14,570,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>f</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>15,308,699</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Wisconsin Health and Educational</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Facilities Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Aurora Health Care, Inc.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.40</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/15/33</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,087,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>U.S. Related--5.5%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Government of Guam,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GO</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/39</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,548,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Puerto Rico Commonwealth,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Public Improvement GO</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,468,035</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Puerto Rico Commonwealth,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Public Improvement GO</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,610,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,626,857</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Puerto Rico Commonwealth,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Public Improvement GO</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,390,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,554,456</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Puerto Rico Sales Tax Financing</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, Sales Tax Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(First Subordinate Series)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,500,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,521,775</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Puerto Rico Sales Tax Financing</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporation, Sales Tax Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(First Subordinate Series)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/42</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,000,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,586,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Virgin Islands Public Finance</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Authority, Revenue (Virgin</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Islands Matching Fund Loan</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Notes) (Senior Lien/Capital</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_16"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 825px; HEIGHT: 530px" cellSpacing=0 border=0>



<TR>

   <TD width="31%"></TD>

   <TD align=right width="11%"></TD>

   <TD align=right width="12%"></TD>

   <TD align=right width="22%"></TD>

   <TD align=right width="2%"></TD>

   <TD align=right width="16%"></TD>

   <TD width="2%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Projects)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 7px" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,250,000</FONT></TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,143,588</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Total Long-Term Municipal Investments</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(cost $549,959,881)</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>574,473,561</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Short-Term Municipal</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Coupon</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Maturity</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Principal</FONT></B></TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Investments--1.0%</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Rate (%)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Date</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Amount ($)</FONT></B></TD>

   <TD align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Value ($)</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>California--.6%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>California,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GO Notes</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Kindergarten-University)</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(LOC: California State</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Teachers Retirement System and</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Citibank NA)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 7px" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>0.08</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/11</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,100,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>h</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,100,000</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>New York--.4%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>New York City,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GO Notes (LOC; JPMorgan Chase</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Bank)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 7px" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>0.10</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/11</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,700,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>h</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,700,000</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Total Short-Term Municipal Investments</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(cost $3,800,000)</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>3,800,000</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Total Investments </FONT></B><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(cost $553,759,881)</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>147.9</FONT></B></TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>%</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>578,273,561</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Liabilities, Less Cash and Receivables</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>(12.2</FONT></B></TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>%)</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>(47,686,655</FONT></B></TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Preferred Stock, at redemption value</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>(35.7</FONT></B></TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>%)</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>(139,500,000</FONT></B></TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left colSpan=2><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Net Assets Applicable to Common Shareholders</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>100.0</FONT></B></TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>%</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>391,086,906</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a Collateral for floating rate borrowings.</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b 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 style="TEXT-INDENT: 6px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>transactions exempt from registration, normally to qualified institutional buyers. At August 31, 2011, these securities</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>were valued at $119,872,244 or 30.7% of net assets applicable to Common Shareholders.</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c At August 31, 2011, the fund had $101,935,221 or 26.1% of net assets applicable to Common Shareholders invested in</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>securities whose payment of principal and interest is dependent upon revenues generated from transportation.</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>d Security issued with a zero coupon. Income is recognized through the accretion of discount.</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>e Non-income producing security; interest payments in default.</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>f These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>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 style="TEXT-INDENT: 6px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>municipal issue and to retire the bonds in full at the earliest refunding date.</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>g Inverse floater security--the interest rate is subject to change periodically. Rate shown is the interest rate in effect</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>at August 31, 2011.</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>h Variable rate demand note - rate shown is the interest rate in effect at August 31, 2011. Maturity date represents the</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>next demand date, or the ultimate maturity date if earlier.</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_17"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>At August 31, 2011, the aggregate cost of investment securities for income tax purposes was $553,759,881. Net unrealized appreciation on investments was $24,513,680 of which $31,842,422 related to appreciated investment securities and $7,328,742 related to depreciated investment securities.</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 788px; HEIGHT: 415px" cellSpacing=0 border=0>



<TR>

   <TD width="10%"></TD>

   <TD width="43%"></TD>

   <TD width="10%"></TD>

   <TD width="36%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Summary of Abbreviations</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>ABAG</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Association of Bay Area Governments</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>ACA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>American Capital Access</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>AGC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>ACE Guaranty Corporation</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>AGIC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Asset Guaranty Insurance Company</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>AMBAC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>American Municipal Bond Assurance Corporation</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>ARRN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Adjustable Rate Receipt Notes</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>BAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Bond Anticipation Notes</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>BPA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Bond Purchase Agreement</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>CIFG</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>CDC Ixis Financial Guaranty</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>COP</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Certificate of Participation</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>CP</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Commercial Paper</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>EDR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Economic Development Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>EIR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Environmental Improvement Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>FGIC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Financial Guaranty Insurance Company</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>FHA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Federal Housing Administration</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>FHLB</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Federal Home Loan Bank</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>FHLMC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Federal Home Loan Mortgage Corporation</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>FNMA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Federal National Mortgage Association</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>GAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Grant Anticipation Notes</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>GIC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Guaranteed Investment Contract</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>GNMA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Government National Mortgage Association</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>GO</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>General Obligation</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>HR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hospital Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>IDB</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Industrial Development Board</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>IDC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Industrial Development Corporation</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>IDR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Industrial Development Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>LOC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Letter of Credit</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>LOR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Limited Obligation Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>LR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Lease Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>MFHR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Multi-Family Housing Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>MFMR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Multi-Family Mortgage Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>PCR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Pollution Control Revenue</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_18"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 797px; HEIGHT: 208px" cellSpacing=0 border=0>



<TR>

   <TD width="11%"></TD>

   <TD width="38%"></TD>

   <TD width="17%"></TD>

   <TD width="32%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>PILOT</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Payment in Lieu of Taxes</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>PUTTERS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Puttable Tax-Exempt Receipts</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>RAC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue Anticipation Certificates</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>RAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue Anticipation Notes</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>RAW</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Revenue Anticipation Warrants</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>RRR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Resources Recovery Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>SAAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>State Aid Anticipation Notes</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>SBPA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Standby Bond Purchase Agreement</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>SFHR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Single Family Housing Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>SFMR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Single Family Mortgage Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>SONYMA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>State of New York Mortgage Agency</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>SWDR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Solid Waste Disposal Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>TAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tax Anticipation Notes</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>TAW</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tax Anticipation Warrants</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>TRAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tax and Revenue Anticipation Notes</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>XLCA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>XL Capital Assurance</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_19"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>The following is a summary of the inputs used as of August 31, 2011 in valuing the fund's investments:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 796px; HEIGHT: 165px" cellSpacing=0 border=0>



<TR>

   <TD width="27%"></TD>

   <TD width="25%"></TD>

   <TD width="20%"></TD>

   <TD width="14%"></TD>

   <TD width="11%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 3 -</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 2 - Other</FONT></B>&nbsp;</TD>

   <TD align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Significant</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 1 - Unadjusted</FONT></B>&nbsp;</TD>

   <TD align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Significant Observable</FONT></B>&nbsp;</TD>

   <TD align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Unobservable</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Assets ($)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Quoted Prices</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Inputs</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Inputs</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Total</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Investments in Securities:</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Municipal Bonds</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>&nbsp;578,273,561</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 20px; BORDER-BOTTOM: #000000 1px solid" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>578,273,561</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_20"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>The Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) is the exclusive reference of authoritative U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (&#8220;SEC&#8221;) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund's financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Portfolio valuation: The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Various inputs are used in determining the value of the fund&#8217;s investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below: Level 1&#8212;unadjusted quoted prices in active markets for identical investments.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Level 2&#8212;other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Level 3&#8212;significant unobservable inputs (including the fund&#8217;s own assumptions in determining the fair value of investments).</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the fund&#8217;s investments are as follows:</FONT></P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_21"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Investments in securities are valued each business day by an independent pricing service (the &#8220;Service&#8221;) approved by the Board of Directors. Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the market for such securities). Other investments (which constitute a majority of the portfolio securities) are carried at fair value as determined by the Service, based on methods which include consideration of: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. All preceding securities are categorized as Level 2 in the hierarchy.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>When market quotations or official closing prices are not readily available, or are determined not to reflect accurately fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded (for example, a foreign exchange or market), but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance with the procedures approved by the Board of Directors. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized as Level 2 or 3 depending on the relevant inputs used.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>For restricted securities where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.</FONT></P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<a name="page_22"></a><a name="_bclPageBorder22"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader22"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Item 2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Controls
and Procedures.</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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 style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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.&#160; </font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Item 3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exhibits.</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Certifications of principal executive and
principal financial officers as required by Rule 30a-2(a) under the Investment
Company Act of 1940.</font></p>





<a name="_bclFooter22"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
<A name="page_4"></A>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader23"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">FORM N-Q</FONT></B></P>

<P style="MARGIN: 0in 0in 24pt; TEXT-ALIGN: center"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">SIGNATURES<BR><BR></FONT></B></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">Dreyfus Strategic Municipal Bond Fund, Inc.</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 500.399pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">By: </FONT><U><FONT style="FONT-SIZE: 11pt" face="Times New Roman">/s/ Bradley J. Skapyak</FONT></U></P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bradley J. Skapyak</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Date:</FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="90%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">October 24, 2011</FONT></P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">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></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">By: </FONT><U><FONT style="FONT-SIZE: 11pt" face="Times New Roman">/s/ Bradley J. Skapyak</FONT></U></P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bradley J. Skapyak</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Date:</FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="90%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">October 24, 2011</FONT></P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">By: </FONT><U><FONT style="FONT-SIZE: 11pt" face="Times New Roman">/s/ James Windels</FONT></U></P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; James Windels</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Treasurer</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Date:</FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="90%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">October 24, 2011</FONT></P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">EXHIBIT INDEX</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.&nbsp; (EX-99.CERT)</FONT></P>

<a name="_bclFooter23"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>certification-082.htm
<DESCRIPTION>CERTIFICATION REQUIRED BY RULE 30A-2
<TEXT>

<HTML>
<HEAD>
   <TITLE>certification-082.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

<A name="page_1"></A>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader1"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">SECTION 302 CERTIFICATION</FONT></B></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">I, Bradley J. Skapyak, certify that:</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">1.&nbsp; I have reviewed this report on Form N-Q of Dreyfus Strategic Municipal Bond Fund, Inc.;</FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">2.&nbsp; 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 style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">3.&nbsp; 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 style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">4.&nbsp; 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 style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(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 style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(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 style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(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 style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(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 style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">5.&nbsp; 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 style="MARGIN-LEFT: 0.25in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(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 style="MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(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>

<P style="MARGIN: 0in 0in 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; MARGIN-LEFT: 191.4pt; BORDER-LEFT: medium none; WIDTH: 298.199pt; BORDER-BOTTOM: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">By: </FONT><U><FONT style="FONT-SIZE: 11pt" face="Times New Roman">/s/ Bradley J. Skapyak</FONT></U></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bradley J. Skapyak</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Date: October 24, 2011</FONT></P></TD></TR></TABLE></DIV>

<a name="_bclFooter1"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader2"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">SECTION 302 CERTIFICATION</FONT></B></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">I, James Windels, certify that:</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">1.&nbsp; I have reviewed this report on Form N-Q of Dreyfus Strategic Municipal Bond Fund, Inc.;</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">2.&nbsp; 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 style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">3.&nbsp; 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 style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">4.&nbsp; 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 style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(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 style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(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 style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(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 style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(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 style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">5.&nbsp; 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 style="MARGIN-LEFT: 0.25in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(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 style="MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(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>

<P style="MARGIN: 0in 0in 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; MARGIN-LEFT: 191.4pt; BORDER-LEFT: medium none; WIDTH: 298.199pt; BORDER-BOTTOM: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">By: </FONT><U><FONT style="FONT-SIZE: 11pt" face="Times New Roman">/s/ James Windels</FONT></U></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; James Windels</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Treasurer</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Date: October 24, 2011</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<a name="_bclFooter2"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
