<SEC-DOCUMENT>0000855887-21-000012.txt : 20210728
<SEC-HEADER>0000855887-21-000012.hdr.sgml : 20210728
<ACCEPTANCE-DATETIME>20210728133809
ACCESSION NUMBER:		0000855887-21-000012
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20210531
FILED AS OF DATE:		20210728
DATE AS OF CHANGE:		20210728
EFFECTIVENESS DATE:		20210728

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BNY MELLON 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-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05877
		FILM NUMBER:		211121656

	BUSINESS ADDRESS:	
		STREET 1:		C/O BNY MELLON INVESTMENT ADVISER, INC.
		STREET 2:		240 GREENWICH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10286
		BUSINESS PHONE:		2129226400

	MAIL ADDRESS:	
		STREET 1:		C/O BNY MELLON INVESTMENT ADVISER, INC.
		STREET 2:		240 GREENWICH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10286

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DREYFUS STRATEGIC MUNICIPAL BOND FUND, INC.
		DATE OF NAME CHANGE:	20181030

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DREYFUS STRATEGIC MUNICIPAL BOND FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>lp1-852.htm
<DESCRIPTION>SEMI - ANNUAL REPORT
<TEXT>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">FORM N-CSR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT<BR>
INVESTMENT COMPANIES</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Investment Company Act file number</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;811-05877</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">BNY Mellon Strategic Municipal Bond Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Exact name of Registrant as specified in charter)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">c/o BNY Mellon Investment Adviser, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">240 Greenwich Street</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">New York, New York 10286</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Zip code)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Deirdre Cunnane, Esq.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">240 Greenwich Street</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">New York, New York 10286</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Name and address of agent for service)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Registrant's telephone number, including area code:&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">(212) 922-6400</FONT></TD></TR>
<TR>
    <TD COLSPAN="5" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date of fiscal year end:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">11/30</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Date of reporting period:</FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">05/31/2021</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 19%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 38%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: center; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>FORM N-CSR</B></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 1.</B></TD><TD><B>Reports to Stockholders.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>&nbsp;</B></P>

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<p style="color:#292526; font-family:Serif; font-size:24.0pt; font-style:normal; font-weight:normal;
text-align:center;">BNY Mellon Strategic Municipal Bond Fund, Inc.</p><table cellpadding="2" cellspacing="0"
width="57%" align="center" style="clear:both"><tr style="font-size:1pt;"><td style="width:100%">&nbsp;</td></tr><tr><td
style="background-color:#cccccc; font-size:1pt; vertical-align:middle;"><p style="color:#000000; font-family:Arial;
font-size:16.0pt; font-style:normal; font-weight:bold; text-align:center;">SEMIANNUAL REPORT</p><p style="color:#000000;
font-family:Arial; font-size:16.0pt; font-style:normal; font-weight:normal; text-align:center;">May 31,
2021</p></td></tr></table><table cellpadding="2" cellspacing="0" width="100%" style="clear:both"><tr
style="font-size:1pt;"><td style="width:100%">&nbsp;</td></tr><tr><td style="font-size:1pt; vertical-align:top;"><p
style="font-family:Serif; font-size:10.0pt; font-style:normal; font-weight:normal; text-align:right;"><img src="img_d1cfad1d41f84.jpg"></p></td></tr></table>




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<table cellpadding="2" cellspacing="0" width="82%" align="center" style="clear:both"><tr style="font-size:1pt;"><td
style="width:100%">&nbsp;</td></tr><tr><td style="border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
border-left:0.5pt; border-left-color:#000000; border-left-style:solid; border-right:0.5pt; border-right-color:#000000;
border-right-style:solid; border-top:0.5pt; border-top-color:#000000; border-top-style:solid; font-size:1pt;
vertical-align:top;"><p style="font-family:Serif; font-size:9.5pt; font-style:normal; font-weight:bold;
text-align:center;">BNY Mellon Strategic Municipal Bond Fund, Inc.</p><p style="font-family:Serif; font-size:9.5pt;
font-style:normal; font-weight:bold; text-align:center;">Protecting Your Privacy<br>Our Pledge to You</p><p
style="font-family:Bembo; font-size:9.5pt; font-style:normal; font-weight:normal; margin-left:05.75pt;
text-align:justify;"><font style="font-family:Bembo; font-weight:bold;">THE FUND IS COMMITTED TO YOUR
PRIVACY.</font> On this page, you will find the fund&#8217;s policies and practices for collecting, disclosing,
and safeguarding &#8220;nonpublic personal information,&#8221; which may include financial or other customer
information. These policies apply to individuals who purchase fund shares for personal, family, or household
purposes, or have done so in the past. This notification replaces all previous statements of the fund&#8217;s
consumer privacy policy, and may be amended at any time. We&#8217;ll keep you informed of changes as required
by law.</p><p style="font-family:Bembo; font-size:9.5pt; font-style:normal; font-weight:normal; margin-left:05.75pt;
text-align:justify;"><font style="font-family:Bembo; font-weight:bold;">YOUR ACCOUNT IS PROVIDED IN A
SECURE ENVIRONMENT.</font> The fund maintains physical, electronic and procedural safeguards that comply
with federal regulations to guard nonpublic personal information. The fund&#8217;s agents and service providers
have limited access to customer information based on their role in servicing your account.</p><p style="font-family:Bembo;
font-size:9.5pt; font-style:normal; font-weight:normal; margin-left:05.75pt; text-align:justify;"><font
style="font-family:Bembo; font-weight:bold;">THE FUND COLLECTS INFORMATION IN ORDER TO SERVICE AND ADMINISTER
YOUR ACCOUNT. </font>The fund collects a variety of nonpublic personal information, which may include:</p><p
style="font-family:Bembo; font-size:9.5pt; font-style:normal; font-weight:normal; margin-left:19.70pt;
text-align:justify; text-indent:-13.70pt;">&#8226;<font style="word-spacing:7.85pt;">&nbsp;</font>Information
we receive from you, such as your name, address, and social security number.</p><p style="font-family:Bembo;
font-size:9.5pt; font-style:normal; font-weight:normal; margin-left:19.70pt; text-align:justify; text-indent:-13.70pt;">&#8226;<font
style="word-spacing:7.85pt;">&nbsp;</font>Information about your transactions with us, such as the purchase
or sale of fund shares.</p><p style="font-family:Bembo; font-size:9.5pt; font-style:normal; font-weight:normal;
margin-left:19.70pt; text-align:justify; text-indent:-13.70pt;">&#8226;<font style="word-spacing:7.85pt;">&nbsp;</font>Information
we receive from agents and service providers, such as proxy voting information.</p><p style="font-family:Bembo;
font-size:9.5pt; font-style:normal; font-weight:bold; margin-left:05.75pt; text-align:left;">THE FUND
DOES NOT SHARE NONPUBLIC PERSONAL INFORMATION WITH ANYONE, EXCEPT AS PERMITTED BY LAW.</p><p style="font-family:Bembo;
font-size:9.5pt; font-style:italic; font-weight:bold; margin-left:05.75pt; text-align:left;">Thank you
for this opportunity to serve you.</p></td></tr></table><table cellpadding="2" cellspacing="0" width="77%"
style="clear:both"><tr style="font-size:1pt;"><td style="width:100%">&nbsp;</td></tr><tr><td style="font-size:1pt;
vertical-align:top;"><p style="font-family:Serif; font-size:10.0pt; font-style:normal; font-weight:normal;
text-align:justify;">The views expressed in this report reflect those of the portfolio manager(s) only
through the end of the period covered and do not necessarily represent the views of BNY Mellon Investment
Adviser, Inc. or any other person in the BNY Mellon Investment Adviser, Inc. organization. Any such views
are subject to change at any time based upon market or other conditions and BNY Mellon Investment Adviser,
Inc. disclaims any responsibility to update such views. These views may not be relied on as investment
advice and, because investment decisions for a fund in the BNY Mellon Family of Funds are based on numerous
factors, may not be relied on as an indication of trading intent on behalf of any fund in the BNY Mellon
Family of Funds.</p></td></tr><tr><td style="border-bottom:1.0pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td style="border-bottom:1.0pt; border-bottom-color:#000000;
border-bottom-style:solid; border-left:1.0pt; border-left-color:#000000; border-left-style:solid; border-right:1.0pt;
border-right-color:#000000; border-right-style:solid; vertical-align:middle;"><p style="font-family:Serif;
font-size:9.5pt; font-style:normal; font-weight:normal; text-align:center;">Not FDIC-Insured &#8226; Not
Bank-Guaranteed &#8226; May Lose Value</p></td></tr></table>

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<p style="font-family:Arial; font-size:28.0pt; font-style:normal; font-weight:normal; margin-left:108.00pt;
text-align:justify;">Contents</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal;
margin-left:108.00pt; text-align:left;">THE  FUND</p><table cellpadding="0" cellspacing="0" width="100%"
style="clear:both"><tr style="font-size:1pt;"><td style="width:77.67%">&nbsp;</td><td style="width:22.33%">&nbsp;</td></tr><tr><td
style="vertical-align:bottom;"><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal;
margin-left:108.00pt; text-align:left;"><a href="#1"><font style="font-family:Serif; font-style:normal;
font-weight:normal;">Discussion of Fund Performance</font></a></p></td><td style="vertical-align:bottom;"><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:right;"><a href="#1"><font
style="font-family:Serif; font-style:normal; font-weight:normal;">2</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; margin-left:108.00pt;
text-align:left;"><a href="#2"><font style="font-family:Serif; font-style:normal; font-weight:normal;">Statement
of Investments</font></a></p></td><td style="vertical-align:bottom;"><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:right;"><a href="#2"><font style="font-family:Serif;
font-style:normal; font-weight:normal;">4</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; margin-left:108.00pt;
text-align:left;"><a href="#3"><font style="font-family:Serif; font-style:normal; font-weight:normal;">Statement
of Assets and Liabilities</font></a></p></td><td style="vertical-align:bottom;"><p style="font-family:Serif;
font-size:10.5pt; font-style:normal; font-weight:normal; text-align:right;"><a href="#3"><font style="font-family:Serif;
font-style:normal; font-weight:normal;">22</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; margin-left:108.00pt;
text-align:left;"><a href="#4"><font style="font-family:Serif; font-style:normal; font-weight:normal;">Statement
of Operations</font></a></p></td><td style="vertical-align:bottom;"><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:right;"><a href="#4"><font style="font-family:Serif;
font-style:normal; font-weight:normal;">23</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; margin-left:108.00pt;
text-align:left;"><a href="#5"><font style="font-family:Serif; font-style:normal; font-weight:normal;">Statement
of Cash Flows</font></a></p></td><td style="vertical-align:bottom;"><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:right;"><a href="#5"><font style="font-family:Serif;
font-style:normal; font-weight:normal;">24</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; margin-left:108.00pt;
text-align:left;"><a href="#6"><font style="font-family:Serif; font-style:normal; font-weight:normal;">Statement
of Changes in Net Assets</font></a></p></td><td style="vertical-align:bottom;"><p style="font-family:Serif;
font-size:10.5pt; font-style:normal; font-weight:normal; text-align:right;"><a href="#6"><font style="font-family:Serif;
font-style:normal; font-weight:normal;">25</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; margin-left:108.00pt;
text-align:left;"><a href="#7"><font style="font-family:Serif; font-style:normal; font-weight:normal;">Financial
Highlights</font></a></p></td><td style="vertical-align:bottom;"><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:right;"><a href="#7"><font style="font-family:Serif;
font-style:normal; font-weight:normal;">26</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; margin-left:108.00pt;
text-align:left;"><a href="#8"><font style="font-family:Serif; font-style:normal; font-weight:normal;">Notes
to Financial Statements</font></a></p></td><td style="vertical-align:bottom;"><p style="font-family:Serif;
font-size:10.5pt; font-style:normal; font-weight:normal; text-align:right;"><a href="#8"><font style="font-family:Serif;
font-style:normal; font-weight:normal;">28</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; margin-left:108.00pt;
text-align:left;"><a href="#9"><font style="font-family:Serif; font-style:normal; font-weight:normal;">Proxy
Results</font></a></p></td><td style="vertical-align:bottom;"><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:right;"><a href="#9"><font style="font-family:Serif;
font-style:normal; font-weight:normal;">37</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; margin-left:108.00pt;
text-align:left;"><a href="#10"><font style="font-family:Serif; font-style:normal; font-weight:normal;">Information
About the Approval of </font><br><font style="font-family:Serif; font-style:normal; font-weight:normal;">
  the Fund&#8217;s Investment Advisory </font><br><font style="font-family:Serif; font-style:normal; font-weight:normal;">
  Agreement and Approval of Sub-</font><br><font style="font-family:Serif; font-style:normal; font-weight:normal;">
  Investment Advisory Agreement</font></a></p></td><td style="vertical-align:bottom;"><p style="font-family:Serif;
font-size:10.5pt; font-style:normal; font-weight:normal; text-align:right;"><a href="#10"><font style="font-family:Serif;
font-style:normal; font-weight:normal;">38</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; margin-left:108.00pt;
text-align:left;"><a href="#11"><font style="font-family:Serif; font-style:normal; font-weight:normal;">Officers
and Directors</font></a></p></td><td style="vertical-align:bottom;"><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:right;"><a href="#11"><font style="font-family:Serif;
font-style:normal; font-weight:normal;">41</font></a></p></td></tr></table><p style="font-family:Serif;
font-size:10.5pt; font-style:normal; font-weight:normal; margin-left:108.00pt; text-align:left;">FOR  MORE  INFORMATION </p><div style="border-bottom:1.0pt; border-bottom-color:#000000; border-bottom-style:solid;
margin-top:12pt; padding:0pt 0pt 1pt 0pt;"><div style="font-family:Serif; font-size:1.0pt; font-style:normal;
font-weight:normal; text-align:left;"><font style="word-spacing:1.0pt;">&nbsp;</font></div></div><p style="font-family:Serif;
font-size:10.0pt; font-style:normal; font-weight:normal; margin-left:108.00pt; text-align:left;">Back
Cover</p>

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<p style="font-family:Serif; font-size:10.0pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Arial; font-size:11.5pt; font-weight:normal;">DISCUSSION OF FUND PERFORMANCE</font>
<font style="font-family:Arial; font-size:9.0pt; font-weight:normal;">(Unaudited)</font></p><p style="font-family:Serif;
font-size:10.0pt; font-style:normal; font-weight:normal; text-align:left;"><a name="1"></a><font style="font-family:Serif;
font-style:normal; font-weight:normal;"> </font></p><p style="font-family:Serif; font-size:9.0pt; font-style:italic;
font-weight:normal; text-align:left;">For the period of December 1, 2020 through May 31, 2021, as provided
by Daniel Rabasco and Jeffrey Burger, Portfolio Managers</p><p style="font-family:Arial; font-size:9.0pt;
font-style:normal; font-weight:bold; text-align:left;">Market and Fund Performance Overview</p><p style="font-family:Serif;
font-size:9.0pt; font-style:normal; font-weight:normal; text-align:justify;">For the six-month period
ended May 31, 2021, BNY Mellon Strategic Municipal Bond Fund, Inc. achieved a total return of 4.77% on
a net-asset-value basis and a total return of 8.97% on a market price basis.<font style="font-family:Serif;
font-style:normal; font-weight:normal;"><sup>1</sup></font> Over the same period, the fund paid dividends
of $0.18 per share, which reflects a distribution rate of 4.41%.<font style="font-family:Serif; font-style:normal;
font-weight:normal;"><sup>2</sup></font></p><p style="font-family:Serif; font-size:9.0pt; font-style:normal;
font-weight:normal; text-align:justify;">During the reporting period, municipal bonds continued to recover
from the market turmoil resulting from COVID-19 and the government efforts to contain it. The fund&#8217;s
performance was driven primarily by its security selection and asset allocation decisions.</p><p style="font-family:Arial;
font-size:9.0pt; font-style:normal; font-weight:bold; text-align:left;">The Fund&#8217;s Investment Approach</p><p
style="font-family:Serif; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:justify;">The
fund seeks to maximize current income exempt from federal income tax to the extent believed by BNY Mellon
Investment Adviser, Inc. to be consistent with the preservation of capital. In pursuing this goal, the
fund invests at least 80% of its assets in municipal bonds. Under normal market conditions, the weighted
average maturity of the fund&#8217;s portfolio is expected to exceed 10 years. Under normal market conditions,
the fund invests at least 80% of its net assets in municipal bonds considered investment grade or the
unrated equivalent as determined by BNY Mellon Investment Adviser, Inc. </p><p style="font-family:Serif;
font-size:9.0pt; font-style:normal; font-weight:normal; text-align:justify;">The fund also has issued
auction preferred stock (APS), a percentage of which remains outstanding from its initial public offering
and has invested the proceeds in a manner consistent with its investment objective. This, along with
the fund&#8217;s participation in secondary, inverse floater structures, has the effect of &#8220;leveraging&#8221;
the portfolio, which magnify gain and loss potential depending on market conditions.</p><p style="font-family:Serif;
font-size:9.0pt; font-style:normal; font-weight:normal; text-align:justify;">Over time, many of the fund&#8217;s
older, higher-yielding bonds have matured or were redeemed by their issuers. We have attempted to replace
those bonds with investments consistent with the fund&#8217;s investment policies. We have also sought to
upgrade the fund with newly issued bonds that, in our opinion, have better structural or income characteristics
than existing holdings. When such opportunities arise, we usually look to sell bonds that are close to
their optional redemption date or maturity.</p><p style="font-family:Arial; font-size:9.0pt; font-style:normal;
font-weight:bold; text-align:left;">Market Recovery Continues</p><p style="font-family:Serif; font-size:9.0pt;
font-style:normal; font-weight:normal; text-align:justify;">The municipal bond market continued to recover
from unprecedented volatility that occurred earlier in 2020, when COVID-19 spread, and government shutdowns
caused the economy to slow dramatically. Approval of multiple COVID-19 vaccines in November 2020 and
passage of a federal stimulus package in December 2020 helped buoy the market. Although the stimulus
package did not include direct relief for states and municipalities, the market took a favorable view
of funding for hospitals and mass transit, among other segments, as well as for consumers and small businesses.
</p><p style="font-family:Serif; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:justify;">The
results of the November 2020 election also provided support. A Democrat-controlled Congress made federal
relief for state and local governments more likely. It also made income-tax hikes more likely, adding
to the appeal of tax-exempt municipal securities. The prospect of an increase in the corporate tax rate
made municipal bonds more appealing to institutional buyers as well, and relatively high interest rates
also attracted foreign investors. </p><p style="font-family:Serif; font-size:9.0pt; font-style:normal;
font-weight:normal; text-align:justify;">Investors were also encouraged by the fiscal health of municipal
issuers, which turned out to be much stronger than expected. Tax revenues remained robust because real
estate and income-tax collections failed to decline as much as predicted. Progressive tax regimes proved
advantageous because higher-earning, white-collar workers were largely unaffected by the pandemic. In
addition, federal support for households, school systems, the transportation system and other segments
bolstered the economy and prevented sales taxes from declining as much as originally feared. </p><p style="font-family:Arial;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial;
font-weight:bold;">2</font></p>

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<p style="font-family:Serif; font-size:9.0pt; font-style:normal; font-weight:bold; text-align:justify;"><font
style="font-family:Serif; font-style:normal; font-weight:normal;">Revenue bonds generally outperformed
general obligation bonds late in the period as hard-hit market segments such as transportation and hospitals
recovered when investors became more confident that the end of the pandemic was likely. A federal $350
billion relief package passed during the period also bolstered demand. As a result, inflows to municipal
bond funds in 2021 have been the strongest on record.</font></p><p style="font-family:Arial; font-size:9.0pt;
font-style:normal; font-weight:bold; text-align:left;">Security Selection and Asset Allocation Were Beneficial</p><p
style="font-family:Serif; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:justify;">The
fund&#8217;s performance was driven primarily by security selection and asset allocation decisions. Security
selections were especially positive in the charter schools, health care and special tax sectors. Positions
in the transportation sector were also advantageous. The fund&#8217;s emphasis on revenue bonds was also
beneficial, especially in the health care sector.  </p><p style="font-family:Serif; font-size:9.0pt;
font-style:normal; font-weight:normal; text-align:justify;">On the other hand, the fund&#8217;s performance
was hindered by its security selections in the electric utilities and prepaid gas sectors. The fund&#8217;s
emphasis on pre-refunded bonds also detracted somewhat as did its duration positioning. The fund did
not use derivatives during the reporting period but did maintain its historical levels of leverage.</p><p
style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:bold; text-align:left;">A Positive
Outlook</p><p style="font-family:Serif; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:justify;">We
are relatively optimistic about the municipal bond market in the short-to-medium term. The strong economy,
vaccine distribution and fiscal support from the federal government all have contributed to fundamentals
that are better than expected. An increase in infrastructure spending could be beneficial since it would
relieve states and municipalities of the need to issue more debt. </p><p style="font-family:Serif; font-size:9.0pt;
font-style:normal; font-weight:normal; text-align:justify;">The supply/demand balance is also favorable.
Issuance was strong in 2020, and much of it came in the taxable sector, limiting supply in the tax-exempt
portion of the market. So, we view supply as manageable. Demand has been strong, and if individual and
corporate tax rates are raised, the tax-exempt income offered by municipal bonds could become even more
attractive. </p><p style="font-family:Serif; font-size:9.0pt; font-style:normal; font-weight:normal;
text-align:justify;">Inflation could become a risk since it could cause a rise in longer-term rates.
But, historically, municipal bonds have outperformed Treasuries when long-term rates rise. </p><p style="font-family:Serif;
font-size:9.0pt; font-style:normal; font-weight:normal; text-align:justify;">We expect to maintain the
level of leverage in the fund, and we will continue to emphasize revenue bonds and look for opportunities
to add incremental yield.</p><p style="font-family:Serif; font-size:9.0pt; font-style:normal; font-weight:normal;
text-align:justify;">June 15, 2021</p><p style="font-family:Serif; font-size:8.0pt; font-style:italic;
font-weight:normal; margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font style="font-family:Serif;
font-style:italic; font-weight:normal;"><sup>1</sup></font><font style="word-spacing:6.4pt;">&nbsp;</font>Total
return includes reinvestment of dividends and any capital gains paid, based upon net asset value per
share. Past performance is no guarantee of future results. Income may be subject to state and local taxes,
and some income may be subject to the federal alternative minimum tax (AMT) for certain investors. Capital
gains, if any, are fully taxable. Return figures provided reflect the absorption of certain fund expenses
by BNY Mellon Investment Adviser, Inc. pursuant to an undertaking in effect through November 30, 2021,
at which time it may be extended, terminated or modified. Had these expenses not been absorbed, the fund&#8217;s
returns would have been lower.</p><p style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal;
margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font style="font-family:Serif; font-style:italic;
font-weight:normal;"><sup>2</sup></font><font style="word-spacing:6.4pt;">&nbsp;</font>Distribution rate
per share is based upon dividends per share paid from net investment income during the period, annualized
and divided by the market price per share at the end of the period, adjusted for any capital gain distributions.</p><p
style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; text-align:left;">Bonds
are subject generally to interest-rate, credit, liquidity and market risks, to varying degrees, all of
which are more fully described in the fund&#8217;s prospectus. Generally, all other factors being equal,
bond prices are inversely related to interest-rate changes, and rate increases can cause price declines.
</p><p style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; text-align:left;">High
yield bonds are subject to increased credit risk and are considered speculative in terms of the issuer&#8217;s
perceived ability to continue making interest payments on a timely basis and to repay principal upon
maturity.</p><p style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; text-align:left;">The
use of leverage may magnify the fund&#8217;s gains or losses. For derivatives with a leveraging component,
adverse changes in the value or level of the underlying asset can result in a loss that is much greater
than the original investment in the derivative.</p><p style="font-family:Serif; font-size:8.0pt; font-style:italic;
font-weight:normal; text-align:left;">Recent market risks include pandemic risks related to COVID-19.&#160;The
effects of COVID-19 have contributed to increased volatility in global markets and will likely affect
certain countries, companies, industries and market sectors more dramatically than others. To the extent
the fund may overweight its investments in certain countries, companies, industries or market sectors,
such positions will increase the fund&#8217;s exposure to risk of loss from adverse developments affecting
those countries, companies, industries or sectors.</p><p style="font-family:Arial; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:center;"><font style="font-family:Arial; font-weight:bold;">3</font></p>

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<p style="font-family:Arial; font-size:11.5pt; font-style:normal; font-weight:normal; text-align:left;">STATEMENT
OF INVESTMENTS</p><p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal;
text-align:left;">May 31, 2021 (Unaudited)</p><p style="font-family:Serif; font-size:1.0pt; font-style:normal;
font-weight:normal; text-align:left;"><a name="2"></a></p><table cellpadding="0" cellspacing="0" width="100%"
style="clear:both"><tr style="font-size:1pt;"><td style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td
style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:15%">&nbsp;</td><td style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description
</p></td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Coupon
<br>Rate (%)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Maturity</p>
                                                         <p style="font: normal 7.5pt Cambria; color: #000000; text-align: right"></p><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Date</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Principal</p><p style="color:#000000; font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:right;">Amount ($)</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Value
($)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Bonds and Notes - .3%
</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Collateralized Municipal-Backed
Securities - .3% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Arizona
Industrial Development Authority, Revenue Bonds, Ser. 2019-2<br>(cost $1,388,642)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3.63</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5/20/2033</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,265,174</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">1,440,495</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
colspan="2" style="background-color:#d9d9d9;  font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Long-Term Municipal Investments
- 143.5%</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000;
border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Alabama - 5.2% </p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Alabama Special Care
Facilities Financing Authority, Revenue Bonds (Methodist Home for the Aging Obligated Group)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.50</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/1/2030</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,800,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,927,090</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Alabama Special Care
Facilities Financing Authority, Revenue Bonds (Methodist Home for the Aging Obligated Group)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.75</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/1/2045</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,250,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,311,821</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Alabama Special Care
Facilities Financing Authority, Revenue Bonds (Methodist Home for the Aging Obligated Group)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/1/2050</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,585,269</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Jefferson County, Revenue
Bonds, Refunding, Ser. F</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7.75</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">10/1/2046</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6,000,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>a</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6,165,278</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">The Lower Alabama Gas District, Revenue Bonds, Ser. A</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">9/1/2046</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7,613,838</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">University of Alabama
at Birmingham, Revenue Bonds, Ser. B</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">10/1/2036</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,745,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,243,721</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7"
style="background-color:#d9d9d9;  font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">21,847,017</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Arizona - 7.1% </p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Arizona Industrial Development Authority, Revenue Bonds (Equitable
School Revolving Fund Obligated Group) Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">11/1/2050</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,735,456</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Arizona Industrial Development Authority, Revenue Bonds (Legacy
Cares Project) Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7.75</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7/1/2050</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,305,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4,813,850</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Arizona Industrial Development Authority, Revenue Bonds (Phoenix
Children's Hospital Obligated Group)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2/1/2050</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,736,361</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Arizona Industrial Development
Authority, Revenue Bonds, Refunding (BASIS Schools Projects) Ser. A</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.25</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2047</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,500,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,688,768</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:center;"><font style="font-family:Arial; font-weight:bold;">4</font></p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Arizona
- 7.1% (continued)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Glendale
Industrial Development Authority, Revenue Bonds, Refunding (Sun Health Services Obligated Group) Ser.
A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/15/2054</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,739,718</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Maricopa County Industrial
Development Authority, Revenue Bonds, Refunding (Legacy Traditional Schools Project)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2049</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,775,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,048,669</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Salt Verde Financial Corp., Revenue Bonds</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">12/1/2037</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,345,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,896,022</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2018-XF2537), (Salt
Verde Financial Corporation, Revenue Bonds) Recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">17.21</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">12/1/2037</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4,550,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6,321,702</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">The Phoenix Industrial Development Authority, Revenue Bonds (Legacy
Traditional Schools Project) Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6.75</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7/1/2044</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,156,309</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">The Phoenix Industrial Development Authority, Revenue Bonds,
Refunding (BASIS Schools Projects) Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2046</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,000,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,279,416</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">The Pima County Industrial Development Authority, Revenue Bonds
(American Leadership Academy Project)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/15/2047</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,000,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,055,180</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;
 font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">29,471,451</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">California
- 9.6% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Golden
State Tobacco Securitization Corp., Revenue Bonds, Refunding, Ser. A1</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6/1/2047</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,035,628</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Jefferson Union High School District, COP (Teacher &amp; Staff
Housing Project) (Insured; Build America Mutual)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">8/1/2055</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,734,029</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">San Buenaventura, Revenue Bonds (Community Memorial Health System)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7.50</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/1/2021</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,500,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>e</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,553,774</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2016-XM0379), (Los
Angeles Department of Water &amp; Power, Revenue Bonds, Refunding) Non-recourse, Underlying Coupon Rate
(%) 5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">15.44</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">8/19/2021</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5,000,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5,242,978</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial; font-weight:bold;">5</font></p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Arial; font-style:italic; font-weight:normal;">STATEMENT OF INVESTMENTS (Unaudited)
(continued)</font></p><table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">California
- 9.6% (continued)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tender
Option Bond Trust Receipts (Series 2016-XM0387), (Los Angeles Department of Airports, Revenue Bonds (Los
Angeles International Airport)) Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">15.38</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5/15/2038</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6,000,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6,504,470</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2016-XM0390), (The
Regents of the University of California, Revenue Bonds, Refunding) Non-recourse, Underlying Coupon Rate
(%) 5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">15.44</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5/15/2036</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6,260,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6,809,402</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2020-XF1220), (North
Texas Tollway Authority, Revenue Bonds, Refunding, Ser. B) Non-recourse, Underlying Coupon Rate (%) 3.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">8.55</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1/1/2051</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">10,000,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">10,631,245</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2020-XF2876), (San
Francisco California City &amp; County Airport Commission, Revenue Bonds, Refunding, Ser. E) Recourse,
Underlying Coupon Rate (%) 5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">17.37</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5/1/2050</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5,190,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6,336,928</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;
 font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">39,848,454</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Colorado
- 6.4% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Belleview
Station Metropolitan District No. 2, GO, Refunding</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.13</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">12/1/2046</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,375,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,466,903</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Colorado Educational &amp; Cultural Facilities Authority, Revenue
Bonds, Refunding (Johnson &amp; Wales University) Ser. B</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4/1/2031</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,685,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,873,639</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Colorado Health Facilities Authority, Revenue Bonds, Refunding
(Covenant Living Communities &amp; Services Obligated Group) Ser. A</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">12/1/2050</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,566,718</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Denver City &amp; County Airport System, Revenue Bonds, Refunding,
Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/1/2048</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,300,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,803,288</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Dominion Water &amp;
Sanitation District, Revenue Bonds</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/1/2046</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,100,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,226,246</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Sterling Ranch Community
Authority Board, Revenue Bonds (Insured; Municipal Government Guaranteed) Ser. A</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">12/1/2047</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,250,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,327,193</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:center;">6</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Colorado
- 6.4% (continued)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tender
Option Bond Trust Receipts (Series 2016-XM0385), (Board of Governors of the Colorado State University,
Revenue Bonds) Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">15.41</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3/1/2038</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4,960,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5,136,016</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2020-XM0829), (Colorado
Health Facilities Authority, Revenue Bonds, Refunding (CommonSpirit Health Obligated Group, Ser. A1))
Recourse, Underlying Coupon Rate (%) 4.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">16.81</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">8/1/2044</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,260,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,411,594</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;  font-size:1pt;
vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">26,811,597</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Connecticut
- 1.2% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Connecticut,
Revenue Bonds (Special Tax Obligation) Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5/1/2038</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,296,624</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Connecticut, Revenue Bonds, Ser. A</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5/1/2034</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,006,411</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Connecticut Housing Finance Authority, Revenue Bonds, Refunding,
Ser. A1</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3.65</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/15/2032</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,530,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,665,592</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7"
style="background-color:#d9d9d9;  font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">4,968,627</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">District of Columbia - 4.1% </p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Metropolitan Washington Airports Authority, Revenue Bonds, Refunding
(Dulles Metrorail) Ser. B</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">10/1/2049</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,145,003</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust
Receipts (Series 2016-XM0437), (District of Columbia, Revenue Bonds) Recourse, Underlying Coupon Rate
(%) 5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">17.74</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/1/2035</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">14,834,680</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">15,829,435</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;
 font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">16,974,438</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Florida
- 8.4% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Alachua
County Health Facilities Authority, Revenue Bonds (Shands Teaching Hospital &amp; Clinics Obligated Group)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/1/2049</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,600,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,845,353</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Atlantic Beach, Revenue
Bonds (Fleet Landing Project) Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/15/2048</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,817,564</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Florida Higher Educational
Facilities Financial Authority, Revenue Bonds (Ringling College Project)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3/1/2049</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,366,470</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Greater Orlando Aviation Authority, Revenue Bonds, Ser. A</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">10/1/2044</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,725,457</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Lee County Industrial
Development Authority, Revenue Bonds (Shell Point/Waterside Health Project)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">11/15/2049</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,540,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,789,240</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:center;"><font style="font-family:Arial; font-weight:bold;">7</font></p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Arial; font-style:italic; font-weight:normal;">STATEMENT OF INVESTMENTS (Unaudited)
(continued)</font></p><table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Florida
- 8.4% (continued)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Palm
Beach County Health Facilities Authority, Revenue Bonds (ACTS Retirement-Life Communities Obligated Group)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/15/2045</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5,775,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6,673,477</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Palm Beach County Health
Facilities Authority, Revenue Bonds (Lifespace Communities Obligated Group) Ser. B</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5/15/2053</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,196,831</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Seminole County Industrial Development Authority, Revenue Bonds,
Refunding (Legacy Pointe at UCF Project)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.75</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">11/15/2054</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,047,883</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2019-XF0813), (Fort
Myers Florida Utility, Revenue Bonds) Non-recourse, Underlying Coupon Rate (%) 4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12.11</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">10/1/2049</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,980,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,430,550</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2019-XM0782), (Palm
Beach County Florida Health Facilities Authority, Revenue Bonds, Refunding (Baptist Health South Florida
Obligated Group)) Recourse, Underlying Coupon Rate (%) 4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">13.84</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">8/15/2049</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5,535,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6,365,749</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2020-XF2877), (Greater
Orlando Aviation Authority, Revenue Bonds, Ser. A) Recourse, Underlying Coupon Rate (%) 4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">13.76</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">10/1/2049</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,065,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4,629,032</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;
 font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">34,887,606</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Georgia
- 5.2% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Atlanta
Water &amp; Wastewater, Revenue Bonds, Ser. D</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3.50</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">11/1/2028</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">800,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">876,055</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2016-XM0435), (Private
Colleges &amp; Universities Authority, Revenue Bonds, Refunding (Emory University)) Recourse, Underlying
Coupon Rate (%) 5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">17.74</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">10/1/2043</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6,000,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6,580,562</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2019-XF2847), (Municipal
Electric Authority of Georgia, Revenue Bonds (Plant Vogtle Unis 3&amp;4 Project, Ser. A)) Recourse, Underlying
Coupon Rate (%) 5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">17.60</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1/1/2056</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,720,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,259,251</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:center;">8</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Georgia
- 5.2% (continued)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tender
Option Bond Trust Receipts (Series 2020-XM0825), (Brookhaven Development Authority, Revenue Bonds (Children's
Healthcare of Atlanta, Ser. A)) Recourse, Underlying Coupon Rate (%) 4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">15.28</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2044</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4,220,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5,302,626</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">The Atlanta Development Authority, Revenue Bonds, Ser. A1</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.25</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7/1/2040</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,156,297</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">The Burke County Development
Authority, Revenue Bonds, Refunding (Oglethorpe Power Corp.) Ser. D</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.13</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">11/1/2045</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4,200,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,713,208</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;  font-size:1pt;
vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">21,887,999</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Hawaii
- .7% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Hawaii
Department of Budget &amp; Finance, Revenue Bonds, Refunding (Hawaiian Electric Co.)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3/1/2037</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">2,779,800</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Illinois - 14.4% </p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Chicago Board of Education, GO, Refunding, Ser. A</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/1/2033</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,250,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,543,173</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Chicago Board of Education,
GO, Refunding, Ser. B</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/1/2032</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">400,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">500,918</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Chicago Board of Education,
GO, Refunding, Ser. B</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/1/2031</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">628,134</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Chicago II, GO, Refunding,
Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1/1/2038</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,651,848</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Chicago II, GO, Refunding,
Ser. C</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1/1/2024</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,265,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,398,618</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Chicago II, GO, Ser.
A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1/1/2044</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,570,603</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Chicago II Wastewater
Transmission, Revenue Bonds, Refunding, Ser. C</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1/1/2039</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,330,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,662,596</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Chicago O'Hare International Airport, Revenue Bonds, Refunding,
Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1/1/2048</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4,860,323</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Chicago Transit Authority,
Revenue Bonds, Refunding, Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/1/2045</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,237,940</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Illinois, GO, Refunding,
Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">10/1/2029</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,238,173</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Illinois, GO, Ser. A</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5/1/2038</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,850,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,405,126</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Illinois, GO, Ser. B</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/1/2030</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,887,441</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Illinois, GO, Ser. D</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/1/2028</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,653,846</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Illinois Finance Authority,
Revenue Bonds, Refunding (Plymouth Place Obligated Group)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.25</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5/15/2045</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,182,661</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Illinois Toll Highway Authority, Revenue Bonds, Ser. A</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1/1/2044</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,743,891</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial;
font-weight:bold;">9</font></p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Arial; font-style:italic; font-weight:normal;">STATEMENT OF INVESTMENTS (Unaudited)
(continued)</font></p><table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Illinois
- 14.4% (continued)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Metropolitan
Pier &amp; Exposition Authority, Revenue Bonds (McCormick Place Expansion Project)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6/15/2057</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,958,992</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Metropolitan Pier &amp; Exposition Authority, Revenue Bonds (McCormick
Place Project) (Insured; National Public Finance Guarantee Corp.) Ser. A</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">0.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">12/15/2036</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,500,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,700,937</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Metropolitan Pier &amp; Exposition Authority, Revenue Bonds,
Refunding (McCormick Place Project) Ser. B</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6/15/2052</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,550,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,664,953</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Metropolitan Pier &amp; Exposition Authority, Revenue Bonds,
Refunding (McCormick Place Project) Ser. B</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">12/15/2028</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,602,016</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Railsplitter Tobacco Settlement Authority, Revenue Bonds</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/1/2021</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,600,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>e</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,600,000</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Sales Tax Securitization Corp., Revenue Bonds, Refunding, Ser.
A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1/1/2039</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,250,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,641,125</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust
Receipts (Series 2017-XM0492), (Illinois Finance Authority, Revenue Bonds, Refunding (The University
of Chicago)) Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">15.41</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">10/1/2040</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">9,000,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">10,527,731</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;  font-size:1pt;
vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">59,861,045</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Indiana
- 2.1% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Indiana
Finance Authority, Revenue Bonds (Green Bond) (RES Polyflow Indiana)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3/1/2039</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4,575,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,348,861</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Indiana Finance Authority, Revenue Bonds (Parkview Health System
Obligated Group) Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/1/2043</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4,309,118</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7"
style="background-color:#d9d9d9;  font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">8,657,979</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Iowa - 2.0% </p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Iowa Finance Authority, Revenue Bonds, Refunding (Iowa Fertilizer
Co. Project)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.25</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/1/2025</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5,125,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5,612,862</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Iowa Tobacco Settlement
Authority, Revenue Bonds, Refunding, Ser. A2</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6/1/2049</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,400,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,625,044</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Iowa Tobacco Settlement Authority, Revenue Bonds, Refunding,
Ser. B1</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/1/2049</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,165,626</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7"
style="background-color:#d9d9d9;  font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">8,403,532</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:center;">10</p>

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<p style="page-break-before:always;"></p>


<table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Kentucky
- 1.4% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Christian
County, Revenue Bonds, Refunding (Jennie Stuart Medical Center Obligated Group)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.50</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2/1/2044</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,800,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,101,289</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Kentucky Public Energy Authority, Revenue Bonds, Ser. A1</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/1/2025</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,560,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,879,361</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7"
style="background-color:#d9d9d9;  font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">5,980,650</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Louisiana - 3.0% </p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Louisiana Local Government Environmental Facilities &amp; Community
Development Authority, Revenue Bonds, Refunding (Westlake Chemical Project)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3.50</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">11/1/2032</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,400,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,670,696</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2018-XF2584), (Louisiana
Public Facilities Authority, Revenue Bonds (Franciscan Missionaries of Our Lady Health System Project))
Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">17.40</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2047</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">8,195,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">9,794,343</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;  font-size:1pt;
vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">12,465,039</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Maine
- .5% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Maine
Health &amp; Higher Educational Facilities Authority, Revenue Bonds (Maine General Medical Center Obligated
Group)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7.50</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7/1/2021</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,000,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>e</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">2,011,933</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Maryland - 2.3% </p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Maryland Health &amp;
Higher Educational Facilities Authority, Revenue Bonds (Adventist Healthcare Obligated Group) Ser. A</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.50</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1/1/2046</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,250,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,840,375</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Maryland Health &amp;
Higher Educational Facilities Authority, Revenue Bonds, Refunding (Stevenson University Project)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/1/2051</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,134,234</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust
Receipts (Series 2016-XM0391), (Mayor &amp; City Council of Baltimore, Revenue Bonds, Refunding (Water
Projects)) Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">15.38</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2042</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4,000,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,481,567</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;  font-size:1pt;
vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">9,456,176</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial;
font-weight:bold;">11</font></p>

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<p style="page-break-before:always;"></p>


<p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Arial; font-style:italic; font-weight:normal;">STATEMENT OF INVESTMENTS (Unaudited)
(continued)</font></p><table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Massachusetts
- 4.8% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Massachusetts
Development Finance Agency, Revenue Bonds, Refunding (UMass Memorial Health Care Obligated Group) Ser.
K</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7/1/2038</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,130,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,555,770</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Massachusetts Development
Finance Agency, Revenue Bonds, Refunding, Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2029</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,267,202</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Massachusetts Development Finance Agency, Revenue Bonds, Refunding,
Ser. G</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7/1/2046</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,250,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,473,906</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust
Receipts (Series 2016-XM0386), (University of Massachusetts Building Authority, Revenue Bonds, Refunding)
Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">15.39</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5/1/2043</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7,409,991</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">8,077,664</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2018-XF0610), (Massachusetts
Transportation Fund, Revenue Bonds (Rail Enhancement &amp; Accelerated Bridge Programs)) Non-recourse,
Underlying Coupon Rate (%) 5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">15.67</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/1/2047</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5,250,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6,466,841</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;
 font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">19,841,383</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Michigan
- 5.2% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Detroit
Water Supply System, Revenue Bonds, Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2021</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,290,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>e</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,295,132</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Great Lakes Water Authority Sewage Disposal System, Revenue Bonds,
Refunding, Ser. C</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7/1/2036</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,404,714</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Michigan Building Authority,
Revenue Bonds, Refunding</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4/15/2054</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,905,528</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Michigan Finance Authority,
Revenue Bonds, Refunding (Insured; National Public Finance Guarantee Corp.) Ser. D6</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2036</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,130,411</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Michigan Strategic Fund, Revenue Bonds (AMT-I-75 Improvement
Project)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/30/2048</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6,033,713</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Pontiac School District,
GO</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5/1/2050</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,540,475</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust
Receipts (Series 2019-XF2837), (Michigan State Finance Authority, Revenue Bonds (Henry Ford Health System))
Recourse, Underlying Coupon Rate (%) 4.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">13.78</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">11/15/2050</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,900,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,485,414</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;  font-size:1pt;
vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">21,795,387</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:center;">12</p>

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<p style="page-break-before:always;"></p>


<table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Minnesota
- 1.1% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Duluth
Economic Development Authority, Revenue Bonds, Refunding (Essentia Health Obligated Group) Ser. A</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2/15/2058</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">4,766,860</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Missouri
- 2.4% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Missouri
Health &amp; Educational Facilities Authority, Revenue Bonds (Lutheran Senior Services Projects) Ser.
A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2/1/2042</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,119,008</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Missouri Health &amp;
Educational Facilities Authority, Revenue Bonds, Refunding (Lutheran Senior Services Projects)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2/1/2046</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,200,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,350,395</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">St. Louis Land Clearance
for Redevelopment Authority, Revenue Bonds</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.13</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6/1/2046</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4,755,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5,380,591</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">The Missouri Health &amp; Educational Facilities Authority, Revenue
Bonds (Mercy Health)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/1/2050</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,325,335</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7"
style="background-color:#d9d9d9;  font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">10,175,329</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Multi-State - .6% </p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Federal Home Loan Mortgage Corp. Multifamily Variable Rate Certificates,
Revenue Bonds, Ser. M048</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3.15</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1/15/2036</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,400,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">2,661,667</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Nevada - 1.6% </p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Clark County School
District, GO (Insured; Assured Guaranty Municipal Corp.) Ser. A</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6/15/2039</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">950,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,134,158</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Reno, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal
Corp.)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/1/2058</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5,511,313</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7"
style="background-color:#d9d9d9;  font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">6,645,471</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">New Hampshire - .4% </p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">New Hampshire Business Finance Authority, Revenue Bonds, Refunding
(Springpoint Senior Living Obligated Group)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1/1/2051</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">1,657,026</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">New Jersey - 5.1% </p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">New Jersey, GO, Ser. A</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6/1/2031</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,254,340</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">New Jersey Housing &amp; Mortgage Finance Agency, Revenue Bonds,
Refunding, Ser. D</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">10/1/2024</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,370,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,592,141</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">New Jersey Transportation
Trust Fund Authority, Revenue Bonds</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/15/2046</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,365,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,665,695</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">New Jersey Transportation
Trust Fund Authority, Revenue Bonds</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.25</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/15/2043</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,865,980</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial;
font-weight:bold;">13</font></p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Arial; font-style:italic; font-weight:normal;">STATEMENT OF INVESTMENTS (Unaudited)
(continued)</font></p><table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">New
Jersey - 5.1% (continued)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">New
Jersey Turnpike Authority, Revenue Bonds, Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1/1/2051</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,400,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,832,371</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">South Jersey Port Corp., Revenue Bonds, Ser. B</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1/1/2042</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,025,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,364,346</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2018-XF2538), (New
Jersey Economic Development Authority, Revenue Bonds) Recourse, Underlying Coupon Rate (%) 5.25</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">18.23</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/15/2040</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,250,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4,864,584</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tobacco Settlement Financing Corp., Revenue Bonds, Refunding,
Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.25</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/1/2046</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,827,785</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tobacco Settlement Financing
Corp., Revenue Bonds, Refunding, Ser. B</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/1/2046</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,670,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,963,430</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7"
style="background-color:#d9d9d9;  font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">21,230,672</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">New York - 9.7% </p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Monroe County Industrial Development Corp., Revenue Bonds, Refunding
(University of Rochester Project) Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2050</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,760,860</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">New York City, GO, Ser. D1</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3/1/2050</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,914,559</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">New York Convention Center Development Corp., Revenue Bonds (Insured;
Assured Guaranty Municipal Corp.) Ser. B</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">0.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">11/15/2049</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5,600,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,592,057</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">New York Liberty Development Corp., Revenue Bonds, Refunding
(Class 1-3 World Trade Center Project)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/15/2044</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,400,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,762,615</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">New York State Dormitory Authority, Revenue Bonds, Refunding
(Montefiore Obligated Group) Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">9/1/2045</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,145,533</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">New York Transportation
Development Corp., Revenue Bonds (LaGuardia Airport Terminal B Redevelopment Project) Ser. A</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.25</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1/1/2050</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,409,568</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">New York Transportation
Development Corp., Revenue Bonds, Refunding (JFK International Air Terminal) Ser. A</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">12/1/2035</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,100,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,413,327</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Niagara Area Development Corp., Revenue Bonds, Refunding (Covanta
Holding Project) Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.75</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/1/2042</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,046,981</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Port Authority of New York &amp; New Jersey, Revenue Bonds, Refunding,
Ser. 223</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7/15/2051</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,250,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,647,457</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:center;">14</p>

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<p style="page-break-before:always;"></p>


<table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">New
York - 9.7% (continued)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tender
Option Bond Trust Receipts (Series 2016-XM0436), (New York City Municipal Water Finance Authority, Revenue
Bonds, Refunding) Recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">17.74</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6/15/2044</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12,600,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">12,907,330</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2020-XM0826), (Metropolitan
Transportation Authority, Revenue Bonds, Refunding (Green Bond) (Insured; Assured Guaranty Municipal
Corp., Ser. C)) Non-recourse, Underlying Coupon Rate (%) 4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11.90</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">11/15/2046</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6,100,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7,055,811</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;  font-size:1pt;
vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">40,656,098</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">North
Carolina - .4% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">North
Carolina Turnpike Authority, Revenue Bonds (Insured; Assured Guaranty Municipal Corp.)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1/1/2055</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">1,712,340</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Ohio - 4.0% </p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Buckeye Tobacco Settlement Financing Authority, Revenue Bonds,
Refunding, Ser. A2</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/1/2048</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,250,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,447,094</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Buckeye Tobacco Settlement
Financing Authority, Revenue Bonds, Refunding, Ser. B2</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6/1/2055</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">10,750,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">12,461,810</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Centerville, Revenue Bonds, Refunding (Graceworks Lutheran Services
Obligated Group)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.25</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/1/2047</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,587,698</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Cuyahoga County, Revenue
Bonds, Refunding (The MetroHealth System)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2/15/2052</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,154,885</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;  font-size:1pt;
vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">16,651,487</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Oregon
- .3% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Medford
Hospital Facilities Authority, Revenue Bonds, Refunding (Asante Project) Ser. A</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">8/15/2039</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">1,198,667</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Pennsylvania - 4.4% </p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Allentown School District, GO, Refunding (Insured; Build America
Mutual) Ser. B</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2/1/2031</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,510,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,960,231</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Crawford County Hospital
Authority, Revenue Bonds, Refunding (Meadville Medical Center Project) Ser. A</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6/1/2046</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,088,590</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Franklin County Industrial Development Authority, Revenue Bonds
(Menno-Haven Project)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/1/2054</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,071,051</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial;
font-weight:bold;">15</font></p>

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<p style="page-break-before:always;"></p>


<p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Arial; font-style:italic; font-weight:normal;">STATEMENT OF INVESTMENTS (Unaudited)
(continued)</font></p><table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Pennsylvania
- 4.4% (continued)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Pennsylvania
Higher Educational Facilities Authority, Revenue Bonds, Refunding (University of Sciences)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/1/2033</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,805,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,211,121</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Pennsylvania Housing
Finance Agency, Revenue Bonds, Refunding, Ser. 114A</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3.35</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">10/1/2026</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,017,564</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Pennsylvania Turnpike Commission, Revenue Bonds, Ser. A</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/1/2050</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,761,140</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Philadelphia Water &amp;
Wastewater, Revenue Bonds, Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/1/2050</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,932,058</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust
Receipts (Series 2016-XM0373), (Geisinger Authority, Revenue Bonds (Geisinger Health System)) Non-recourse,
Underlying Coupon Rate (%) 5.13</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">14.63</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/1/2041</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,000,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,999,999</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">The Philadelphia School District, GO (Insured; State Aid Withholding)
Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">9/1/2039</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,380,722</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7"
style="background-color:#d9d9d9;  font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">18,422,476</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Rhode Island - .2% </p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Providence Public Building Authority, Revenue Bonds (Insured;
Assured Guaranty Municipal Corp.) Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">9/15/2037</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">621,687</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">South Carolina - 3.0% </p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">South Carolina Jobs-Economic Development Authority, Revenue Bonds
(Bishop Gadsden Episcopal Retirement Community Obligated Group)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4/1/2054</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,000,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,141,091</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2016-XM0384), (South
Carolina Public Service Authority, Revenue Bonds, Refunding (Santee Cooper)) Non-recourse, Underlying
Coupon Rate (%) 5.13</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11.80</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/1/2043</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">10,200,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11,290,225</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;
 font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">12,431,316</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tennessee
- .8% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tender
Option Bond Trust Receipts (Series 2016-XM0388), (Metropolitan Government of Nashville &amp; Davidson
County, Revenue Bonds, Refunding) Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">15.14</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2040</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,000,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">3,276,753</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:center;">16</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Texas
- 10.7% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Central
Texas Regional Mobility Authority, Revenue Bonds</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1/1/2048</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,993,375</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Central Texas Regional Mobility Authority, Revenue Bonds, Ser.
A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1/1/2045</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,721,946</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Clifton Higher Education
Finance Corp., Revenue Bonds (Uplift Education) Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.50</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">12/1/2044</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,662,561</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Clifton Higher Education Finance Corp., Revenue Bonds, Ser. A</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.75</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">8/15/2045</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,500,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,870,576</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Clifton Higher Education
Finance Corp., Revenue Bonds, Ser. D</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6.13</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">8/15/2048</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">3,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,485,822</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Grand Parkway Transportation
Corp., Revenue Bonds, Refunding</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">10/1/2049</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,342,789</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Harris County-Houston
Sports Authority, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. A</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">0.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/15/2051</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7,500,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>f</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,978,277</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Love Field Airport Modernization Corp., Revenue Bonds (Southwest
Airlines Co. Project)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/1/2028</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,062,959</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tarrant County Cultural
Education Facilities Finance Corp., Revenue Bonds, Refunding (MRC Stevenson Oaks Project)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6.75</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">11/15/2051</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,148,503</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust
Receipts (Series 2016-XM0377), (San Antonio, Revenue Bonds) Non-recourse, Underlying Coupon Rate (%)
5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">15.41</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2/1/2043</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">12,450,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">13,399,695</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Texas Private Activity Bond Surface Transportation Corp., Revenue
Bonds (Segment 3C Project)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6/30/2058</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6,150,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7,546,543</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Texas Private Activity
Bond Surface Transportation Corp., Revenue Bonds, Refunding (LBJ Infrastructure Group)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6/30/2040</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,350,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,594,109</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Texas Private Activity Bond Surface Transportation Corp., Revenue
Bonds, Refunding (LBJ Infrastructure Group)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">6/30/2039</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,776,177</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;  font-size:1pt;
vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">44,583,332</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">U.S.
Related - 2.3% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Puerto
Rico, GO, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. A</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2035</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,500,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,587,302</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Puerto Rico, GO, Refunding, Ser. A</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">8.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2035</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5,965,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>g</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,816,737</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:center;"><font style="font-family:Arial; font-weight:bold;">17</font></p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Arial; font-style:italic; font-weight:normal;">STATEMENT OF INVESTMENTS (Unaudited)
(continued)</font></p><table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">U.S.
Related - 2.3% (continued)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Puerto
Rico Highway &amp; Transportation Authority, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal
Corp.) Ser. CC</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.25</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7/1/2034</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,245,662</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7"
style="background-color:#d9d9d9;  font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">9,649,701</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Utah - .6% </p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Utah Infrastructure Agency, Revenue Bonds, Refunding, Ser. A</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">10/15/2037</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">2,385,532</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Virginia
- 5.4% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Chesterfield
County Economic Development Authority, Revenue Bonds, Refunding (Brandermill Woods Project)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.13</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1/1/2043</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">700,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">706,138</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Henrico County Economic
Development Authority, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">11.38</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">8/23/2027</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,700,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>c</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">6,342,651</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust Receipts (Series 2018-XM0593), (Hampton
Roads Transportation Accountability Commission, Revenue Bonds) Non-recourse, Underlying Coupon Rate (%)
5.50</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">17.42</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7/1/2057</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7,500,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">9,305,643</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Virginia College Building Authority, Revenue Bonds (Green Bond)
(Marymount University Project)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7/1/2045</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Cambria; font-weight:normal;"><sup>b</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,055,381</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Virginia Small Business Financing Authority, Revenue Bonds (Transform
66 P3 Project)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/31/2052</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,350,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5,234,011</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7"
style="background-color:#d9d9d9;  font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:bold; text-align:right;">22,643,824</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Washington - 4.4% </p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">King County School District No. 210, GO (Insured; School Bond
Guaranty)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">12/1/2034</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">2,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">2,366,258</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Port of Seattle, Revenue
Bonds</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4/1/2044</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,000,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,134,672</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tender Option Bond Trust
Receipts (Series 2018-XM0680), (Washington Convention Center Public Facilities District, Revenue Bonds)
Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">8.98</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2058</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">10,000,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b,c,d</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">12,017,400</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Washington Higher Education Facilities Authority, Revenue Bonds
(Seattle University Project)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5/1/2050</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,200,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,370,518</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:center;">18</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:35%">&nbsp;</td><td style="width:6%">&nbsp;</td><td style="width:9%">&nbsp;</td><td style="width:1%">&nbsp;</td><td
style="width:13.01%">&nbsp;</td><td style="width:1%">&nbsp;</td><td style="width:15%">&nbsp;</td><td
style="width:4%">&nbsp;</td><td style="width:15%">&nbsp;</td><td style="width:1%">&nbsp;</td></tr><tr><td
colspan="10" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
 font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:left;">Description</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;"> Coupon <br>Rate (%)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;"><font style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-weight:normal;"> </font>Maturity <br>
Date</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Principal
<br>
Amount ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">Value ($)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Long-Term Municipal Investments - 143.5%<font style="color:#141414; font-family:Cambria;
font-weight:normal;"> </font>(continued)</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Washington
- 4.4% (continued)</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Washington
Housing Finance Commission, Revenue Bonds (Transforming Age Project) Ser. A</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1/1/2055</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,465,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,617,796</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;  font-size:1pt;
vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">18,506,644</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Wisconsin
- 2.5% </p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Public
Finance Authority, Revenue Bonds (Appalachian State University Project) (Insured; Assured Guaranty Municipal
Corp.) Ser. A</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">7/1/2055</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,750,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,966,841</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Public Finance Authority,
Revenue Bonds (CHF - Wilmington) (Insured; Assured Guaranty Municipal Corp.)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">7/1/2058</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">3,665,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">4,296,111</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Public Finance Authority, Revenue Bonds (Gannon University Project)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5.00</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5/1/2042</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">750,000</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">859,618</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Public Finance Authority,
Revenue Bonds, Refunding (Mary's Woods At Marylhurst Project)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.25</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">5/15/2042</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">750,000</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:7.5pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Cambria; font-weight:normal;"><sup>b</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">823,711</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Wisconsin Health &amp; Educational Facilities Authority, Revenue
Bonds (Children's Hospital of Wisconsin Obligated Group)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">4.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">8/15/2050</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,135,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,332,558</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Wisconsin Health &amp; Educational Facilities Authority, Revenue
Bonds, Refunding (St. Camillus Health System Obligated Group)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">5.00</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">11/1/2054</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">1,250,000</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal;
font-weight:normal; text-align:right;">1,324,766</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="7" style="background-color:#d9d9d9;  font-size:1pt;
vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">10,603,605</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;"><font
style="color:#141414; font-family:Cambria; font-weight:bold;">Total</font><font style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-weight:bold;"> </font><font style="color:#141414; font-family:Cambria;
font-weight:bold;">Long-Term Municipal Investments</font><br> (cost $544,388,151)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:bold; text-align:right;">598,430,600</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;"><font
style="color:#141414; font-family:Cambria; font-weight:bold;">Total Investments </font>(cost $545,776,793)</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;">143.8%</p></td><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;">599,871,095</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Liabilities, Less Cash and Receivables</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">(32.0%)</p></td><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">(133,411,158)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Preferred Stock, at redemption
value</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">(11.8%)</p></td><td colspan="2"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">(49,300,000)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="5" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Net Assets Applicable
to Common Shareholders</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">100.0%</p></td><td colspan="2"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">417,159,937</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Serif; font-size:8.0pt;
font-style:italic; font-weight:normal; margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font
style="font-family:Serif; font-style:italic; font-weight:normal;"><sup>a</sup></font><font style="word-spacing:6.4pt;">&nbsp;</font>Zero
coupon until a specified date at which time the stated coupon rate becomes effective until maturity.</p><p
style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; margin-left:10.80pt;
text-align:left; text-indent:-10.80pt;"><font style="font-family:Serif; font-style:italic; font-weight:normal;"><sup>b</sup></font><font
style="word-spacing:6.4pt;">&nbsp;</font>Security exempt from registration pursuant to Rule 144A under
the Securities Act of 1933. These securities may be resold in transactions exempt from registration,
normally to qualified institutional buyers. At May 31, 2021, these securities were valued at $249,977,799
or 59.92% of net assets.</p><p style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal;
margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font style="font-family:Serif; font-style:italic;
font-weight:normal;"><sup>c</sup></font><font style="word-spacing:6.4pt;">&nbsp;</font>The Variable Rate
shall be determined by the Remarketing Agent in its sole discretion based on prevailing market conditions
and may, but need not, be established by reference to one or more financial indices.</p><p style="font-family:Serif;
font-size:8.0pt; font-style:italic; font-weight:normal; margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font
style="font-family:Serif; font-style:italic; font-weight:normal;"><sup>d</sup></font><font style="word-spacing:6.4pt;">&nbsp;</font>Collateral
for floating rate borrowings. The coupon rate given represents the current interest rate for the inverse
floating rate security.</p><p style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal;
margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font style="font-family:Serif; font-style:italic;
font-weight:normal;"><sup>e</sup></font><font style="word-spacing:6.4pt;">&nbsp;</font>These securities
are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are collateralized
by U.S. Government securities which are held in escrow and are used to pay principal and interest on
the municipal issue and to retire the bonds in full at the earliest refunding date.</p><p style="font-family:Serif;
font-size:8.0pt; font-style:italic; font-weight:normal; margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font
style="font-family:Serif; font-style:italic; font-weight:normal;"><sup>f</sup></font><font style="word-spacing:6.4pt;">&nbsp;</font>Security
issued with a zero coupon. Income is recognized through the accretion of discount.</p><p style="font-family:Serif;
font-size:8.0pt; font-style:italic; font-weight:normal; margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font
style="font-family:Serif; font-style:italic; font-weight:normal;"><sup>g</sup></font><font style="word-spacing:6.4pt;">&nbsp;</font>Non-income
producing&#8212;security in default.</p><p style="font-family:Arial; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:center;"><font style="font-family:Arial; font-weight:bold;">19</font></p>

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<p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Arial; font-style:italic; font-weight:normal;">STATEMENT OF INVESTMENTS (Unaudited)
(continued)</font></p><table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:75%">&nbsp;</td><td style="width:25%">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid; border-top:1.5pt; border-top-color:#000000;
border-top-style:solid; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Portfolio
Summary (Unaudited) <font style="color:#141414; font-family:Cambria; font-weight:normal;"><sup>&#8224;</sup></font></p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
border-top:1.5pt; border-top-color:#000000; border-top-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">Value
(%)</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">General</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">25.5</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Education</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">18.9</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Transportation</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">18.6</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Medical</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">15.9</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Water</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">11.4</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Nursing Homes</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">11.2</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">General
Obligation</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">7.3</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Airport</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">7.2</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Development</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">5.6</p></td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">Tobacco Settlement</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">5.2</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Power</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">4.6</p></td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">School District</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">3.4</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Utilities</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">3.2</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Prerefunded</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.8</p></td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">Single Family Housing</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">1.5</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Housing</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.5</p></td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">Multifamily Housing</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">1.0</p></td></tr><tr><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">143.8</p></td></tr></table><p
style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; margin-left:10.80pt;
text-align:left; text-indent:-10.80pt;"><font style="font-family:Serif; font-style:italic; font-weight:normal;"><sup>&#8224;</sup></font><font
style="font-family:Serif; font-style:italic; font-weight:normal;"><sup><font style="word-spacing:8.0pt;">&nbsp;</font></sup></font>Based
on net assets.</p><p style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal;
margin-left:10.80pt; text-align:left; text-indent:-10.80pt;">See notes to financial statements.</p><p
style="font-family:Arial; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:center;">20</p>

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<p style="page-break-before:always;"></p>


<table cellpadding="2" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:13.75%">&nbsp;</td><td style="width:33.75%">&nbsp;</td><td style="width:13.75%">&nbsp;</td><td
style="width:38.75%">&nbsp;</td></tr><tr><td colspan="4" style="background-color:#d9d9d9; border-top:1.5pt;
border-top-color:#000000; border-top-style:solid;  font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:top;"><p style="font-family:Arial; font-size:10.0pt;
font-style:normal; font-weight:normal; text-align:left;"><font style="font-family:Arial; font-weight:bold;">Summary
of Abbreviations </font>(Unaudited)</p></td></tr><tr><td colspan="4" style="background-color:#d9d9d9;
 font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:top;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">ABAG</p></td><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Association
of Bay Area Governments</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">AGC</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">ACE Guaranty Corporation</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">AGIC</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Asset Guaranty Insurance Company</p></td><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">AMBAC</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">American Municipal Bond Assurance Corporation</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">BAN</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Bond Anticipation Notes</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">CIFG</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">CDC
Ixis Financial Guaranty</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:top;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">COP</p></td><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Certificate
of Participation</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">CP</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Commercial Paper</p></td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">DRIVERS</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Derivative
Inverse Tax-Exempt Receipts</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">FGIC</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Financial Guaranty Insurance Company</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">FHA</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Federal Housing Administration</p></td><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">FHLB</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Federal Home Loan Bank</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">FHLMC</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Federal Home Loan Mortgage Corporation</p></td><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">FNMA</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Federal National Mortgage Association</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">GAN</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Grant Anticipation Notes</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">GIC</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Guaranteed
Investment Contract</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">GNMA</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Government National Mortgage Association</p></td><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">GO</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">General Obligation</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">IDC</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Industrial Development Corporation</p></td><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">LIBOR</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">London Interbank Offered Rate</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">LOC</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Letter of Credit</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">LR</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Lease
Revenue</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">NAN</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Note Anticipation Notes</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">MFHR</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Multi-Family
Housing Revenue</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">MFMR</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Multi-Family Mortgage Revenue</p></td><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">MUNIPSA</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Securities Industry and Financial Markets
Association Municipal Swap Index Yield</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:top;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">OBFR</p></td><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Overnight
Bank Funding Rate</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">PILOT</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Payment in Lieu of Taxes</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">PRIME</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Prime Lending Rate</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">PUTTERS</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Puttable
Tax-Exempt Receipts</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">RAC</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Revenue Anticipation Certificates</p></td><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">RAN</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Revenue Anticipation Notes</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">RIB</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Residual Interest Bonds</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">SFHR</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Single
Family Housing Revenue</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:top;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">SFMR</p></td><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Single
Family Mortgage Revenue</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">SOFR</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Secured Overnight Financing Rate</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">TAN</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tax Anticipation Notes</p></td><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">TRAN</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Tax
and Revenue Anticipation Notes</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:top;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">U.S.
T-Bill</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">U.S.
Treasury Bill Money Market Yield</p></td><td style="background-color:#d9d9d9; vertical-align:top;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">XLCA</p></td><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">XL
Capital Assurance</p></td></tr><tr><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:top">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:top">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:top">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:top">&nbsp;</td></tr></table><p
style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; margin-left:10.80pt;
text-align:left; text-indent:-10.80pt;">See notes to financial statements.</p><p style="font-family:Arial;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial;
font-weight:bold;">21</font></p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<p style="font-family:Arial; font-size:11.5pt; font-style:normal; font-weight:normal; text-align:left;">STATEMENT
OF ASSETS AND LIABILITIES</p><p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal;
text-align:left;">May 31, 2021 (Unaudited)</p><p style="font-family:Arial; font-size:9.0pt; font-style:normal;
font-weight:normal; text-align:left;"><a name="3"></a><font style="font-family:Arial; font-weight:normal;">
</font></p><table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:56.12%">&nbsp;</td><td style="width:1.79%">&nbsp;</td><td style="width:1.11%">&nbsp;</td><td
style="width:20.58%">&nbsp;</td><td style="width:1.48%">&nbsp;</td><td style="width:17.57%">&nbsp;</td><td
style="width:1.35%">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000;
border-top-style:solid; vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:center;">&#160;</p></td><td style="background-color:#d9d9d9; border-top:1.5pt;
border-top-color:#000000; border-top-style:solid; vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:center;">&#160;</p></td><td style="background-color:#d9d9d9;
border-top:1.5pt; border-top-color:#000000; border-top-style:solid; vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:center;">&#160;</p></td><td style="background-color:#d9d9d9;
border-top:1.5pt; border-top-color:#000000; border-top-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; border-top:1.5pt;
border-top-color:#000000; border-top-style:solid; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
border-top:1.5pt; border-top-color:#000000; border-top-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:center;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000;
border-bottom-style:solid; vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:center;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:center;">&#160;</p></td><td style="background-color:#d9d9d9;
border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">Cost</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">Value</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">Assets ($): </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">&#160;</p></td></tr><tr><td colspan="3"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Investments in securities&#8212;See
Statement of Investments</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> 545,776,793
</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> 599,871,095 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Cash</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
265,720 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Interest receivable</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> 7,929,426 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Prepaid expenses</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> 37,953 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;"> 608,104,194
</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;">&#160;</p></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">Liabilities ($):</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Due to BNY Mellon Investment
Adviser, Inc. and affiliates&#8212;Note 2(b)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> 267,669 </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td colspan="4" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">Payable for floating rate notes issued&#8212;Note 3</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
140,954,671 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Interest and expense payable
related to <br>     floating rate notes issued&#8212;Note 3</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
261,974 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Commissions payable&#8212;Note
1</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> 58,500 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Directors&#8217; fees and expenses
payable</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> 10,979 </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td colspan="4" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">Dividends payable to Preferred Shareholders</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
471 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">Other accrued expenses</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
89,993 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;"> 141,644,257
</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;">&#160;</p></td></tr><tr><td colspan="4" style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;  vertical-align:bottom;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Auction
Preferred Stock, Series A, B and C, par value $.001 per share (1,972 shares issued and outstanding at
$25,000 per share liquidation value)&#8212;Note 1</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;"> 49,300,000 </p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">Net Assets Applicable to Common Shareholders ($)</p></td><td style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;"> 417,159,937
</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;">&#160;</p></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">Composition of Net Assets ($):</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:left;">Common Stock, par value, $.001 per share <br>
     (49,421,511 shares issued and outstanding)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> 49,422 </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Paid-in
capital </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> 368,326,701 </p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">Total distributable earnings (loss)</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
48,783,814 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Net Assets Applicable to Common
Shareholders ($)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;"> 417,159,937 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">&#160;</p></td></tr></table><table
cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td style="width:75.02%">&nbsp;</td><td
style="width:3.04%">&nbsp;</td><td style="width:1.73%">&nbsp;</td><td style="width:18.56%">&nbsp;</td><td
style="width:1.65%">&nbsp;</td></tr><tr><td colspan="2" style="background-color:#d9d9d9; border-top:1.0pt;
border-top-color:#F2F2F2; border-top-style:solid;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Shares Outstanding</p></td><td
style="background-color:#d9d9d9; border-top:1.0pt; border-top-color:#F2F2F2; border-top-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">&#160;</p></td><td colspan="2" style="background-color:#d9d9d9; border-top:1.0pt;
border-top-color:#F2F2F2; border-top-style:solid;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td colspan="3"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">(110 million shares authorized)</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> 49,421,511 </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">Net Asset Value Per Share of Common Stock ($)</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">8.44</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">&#160;</p></td></tr><tr><td style="vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
style="vertical-align:top;"><p style="color:#000000; font-family:Serif; font-size:8.0pt; font-style:italic;
font-weight:normal; text-align:left;">See notes to financial statements.</p></td><td style="vertical-align:top;"><p
style="color:#000000; font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; text-align:left;"><font
style="color:#000000; font-family:Serif; font-style:italic; font-weight:normal;"><sup>&#160;</sup></font></p></td><td
style="vertical-align:top;"><p style="color:#000000; font-family:Serif; font-size:8.0pt; font-style:italic;
font-weight:normal; text-align:left;"><font style="color:#000000; font-family:Serif; font-style:italic;
font-weight:normal;"><sup>&#160;</sup></font></p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; text-align:right;"><font style="color:#000000;
font-family:Serif; font-style:italic; font-weight:normal;"><sup>&#160;</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></font></p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr></table><p style="font-family:Arial; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial; font-weight:bold;">22</font></p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<p style="font-family:Arial; font-size:11.5pt; font-style:normal; font-weight:normal; text-align:left;">STATEMENT
OF OPERATIONS</p><p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal;
text-align:left;">Six Months Ended May 31, 2021 (Unaudited)</p><p style="font-family:Arial; font-size:9.0pt;
font-style:normal; font-weight:normal; text-align:left;"><a name="4"></a><font style="font-family:Arial;
font-weight:normal;"> </font></p><table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr
style="font-size:1pt;"><td style="width:2.64%">&nbsp;</td><td style="width:45.6%">&nbsp;</td><td style="width:14.56%">&nbsp;</td><td
style="width:1.8%">&nbsp;</td><td style="width:6.91%">&nbsp;</td><td style="width:26.69%">&nbsp;</td><td
style="width:1.8%">&nbsp;</td></tr><tr><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#969696;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#969696;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:center;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#969696;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#969696; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#969696; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#969696;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#969696;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:center;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#969696;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">Investment Income ($):</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:center;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Interest Income</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;"> 11,348,404 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Expenses:</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Investment advisory fee&#8212;Note
2(a)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
1,152,291 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Administration fee&#8212;Note 2(a)</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
576,145 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Interest and expense related
to floating rate notes issued&#8212;Note 3</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> 453,805 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Professional fees</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
99,509 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Commission fees&#8212;Note 1</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
59,311 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Registration fees</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
24,108 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Shareholders&#8217; reports</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
21,890 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Directors&#8217; fees and expenses&#8212;Note
2(c)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
20,618 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Shareholder servicing costs</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
6,737 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Chief Compliance Officer fees&#8212;Note
2(b)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
4,717 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Custodian fees&#8212;Note 2(b)</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
4,321 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Miscellaneous</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> 22,474 </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">Total Expenses</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;"> 2,445,926 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Less&#8212;reduction in expenses
due to undertaking&#8212;Note 2(a)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> (226,624)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Less&#8212;reduction in fees due
to earnings credits&#8212;Note 2(b)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> (3,264)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Net Expenses</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;"> 2,216,038 </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;  vertical-align:bottom;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Investment
Income&#8212;Net</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2;
border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;"> 9,132,366 </p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="5" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Realized and Unrealized Gain
(Loss) on Investments&#8212;Note 3 ($):</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Net realized gain (loss) on
investments</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> (1,012,249)</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="5"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Net change in unrealized appreciation
(depreciation) on investments</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
10,873,919 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Net Realized and Unrealized Gain
(Loss) on Investments</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">
9,861,670 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Dividends to Preferred Shareholders</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">
(27,441)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Net Increase in Net Assets Applicable
to Common <br>      Shareholders Resulting from Operations</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">
18,966,595 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="2" style=" vertical-align:top;"><p
style="color:#000000; font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; text-align:left;">See
notes to financial statements.</p></td><td style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="font-size:1pt; vertical-align:bottom">&nbsp;</td></tr></table><p
style="font-family:Arial; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;"><font
style="font-family:Arial; font-weight:bold;">23</font></p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<p style="font-family:Arial; font-size:11.5pt; font-style:normal; font-weight:normal; text-align:left;">STATEMENT
OF CASH FLOWS</p><p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal;
text-align:left;">Six Months Ended May 31, 2021 (Unaudited)</p><p style="font-family:Arial; font-size:9.0pt;
font-style:normal; font-weight:normal; text-align:left;"><a name="5"></a><font style="font-family:Arial;
font-weight:normal;"> </font></p><table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr
style="font-size:1pt;"><td style="width:2.9%">&nbsp;</td><td style="width:55.28%">&nbsp;</td><td style="width:.92%">&nbsp;</td><td
style="width:18.64%">&nbsp;</td><td style="width:1.91%">&nbsp;</td><td style="width:18.64%">&nbsp;</td><td
style="width:1.71%">&nbsp;</td></tr><tr><td colspan="2" style="background-color:#d9d9d9; border-top:1.5pt;
border-top-color:#000000; border-top-style:solid;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
border-top:1.5pt; border-top-color:#000000; border-top-style:solid; vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:center;">&#160;</p></td><td style="background-color:#d9d9d9;
border-top:1.5pt; border-top-color:#000000; border-top-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; border-top:1.5pt;
border-top-color:#000000; border-top-style:solid; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
border-top:1.5pt; border-top-color:#000000; border-top-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:center;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000;
border-bottom-style:solid; vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:center;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:center;">&#160;</p></td><td style="background-color:#d9d9d9;
border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">Cash Flows from Operating Activities ($): </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:right;">&#160;</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Purchases
of portfolio securities</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:right;"> (30,561,548)</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:left;">Proceeds from sales of portfolio securities</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:right;"> 40,942,715 </p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:left;">Dividends paid to Preferred Shareholders</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:right;"> (27,984)</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:left;">Interest received</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:right;"> 11,880,088 </p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:left;">Paid for floating rate notes redeemed</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
(11,230,000)</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Paid to BNY Mellon Investment
Adviser, Inc. </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:right;"> (1,477,458)</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:left;">Operating expenses paid</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:right;"> (283,479)</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;  vertical-align:bottom;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Net
Cash Provided (or Used) in Operating Activities</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:middle;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;"> 9,242,334 </p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Cash Flows from Financing Activities
($):</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:left;">Dividends paid to shareholders</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> (8,895,871)</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="2"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:left;">Interest and expense related to floating  </p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:left;">rate notes issued paid           </p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> (606,241)</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="4" style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;  vertical-align:bottom;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Net
Cash Provided (or Used) in Financing Activities</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;"> (9,502,112)</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Net Increase (Decrease) in cash</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;"> (259,778)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Cash at beginning of period</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> 525,498 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">Cash at end of period</p></td><td style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;"> 265,720 </p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Reconciliation of Net Increase
(Decrease) in Net Assets Applicable to</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Common Shareholders Resulting
from Operations to</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Net Cash Provided (or Used) in
Operating Activities ($):</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="4" style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Net
Increase in Net Assets Resulting From Operations</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> 18,966,595 </p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Adjustments to Reconcile Net
Increase in Net Assets</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Applicable to Common Shareholder
Resulting from</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Operations to Net Cash Provided
(or Used) in Operating Activities ($):</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="4" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:left;">Decrease in investments in securities at cost</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
12,787,885 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Decrease in interest receivable</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> 531,684 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Increase in prepaid expenses</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> (25,207)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Increase in Due to BNY Mellon
Investment Adviser, Inc. and affiliates</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> 24,354 </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td colspan="4" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:left;">Decrease in payable for investment securities purchased</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
(1,346,345)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Decrease in payable for floating
rate notes issued</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> (11,230,000)</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td colspan="4"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:left;">Interest and expense related to floating rate
notes issued</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> 453,805 </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td colspan="4" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:left;">Decrease in dividends payable to Preferred Shareholders</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
(543)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td colspan="4"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:left;">Decrease in Directors' fees and expenses payable</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> (14,590)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Increase in commissions payable
and other accrued expenses</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> 16,739 </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td colspan="4" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:left;">Net change in unrealized (appreciation) depreciation on investments</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:middle;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
(10,873,919)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Net amortization of premiums
on investments</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:middle;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> (48,124)</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td colspan="4" style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;  vertical-align:bottom;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Net
Cash Provided (or Used) in Operating Activities</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;"> 9,242,334 </p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Arial; font-size:10.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Arial; font-size:10.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Arial; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Arial; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Arial; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Arial; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Arial; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="2" style=" vertical-align:top;"><p
style="color:#000000; font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; text-align:left;">See
notes to financial statements.</p></td><td style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="font-size:1pt; vertical-align:bottom">&nbsp;</td></tr></table><p
style="font-family:Arial; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;"><font
style="font-family:Arial; font-weight:bold;">24</font></p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<p style="font-family:Arial; font-size:11.5pt; font-style:normal; font-weight:normal; text-align:left;">STATEMENT
OF CHANGES IN NET ASSETS</p><p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal;
text-align:left;"><a name="6"></a><font style="font-family:Arial; font-weight:normal;"> </font></p><table
cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td style="width:2.79%">&nbsp;</td><td
style="width:39.04%">&nbsp;</td><td style="width:7.32%">&nbsp;</td><td style="width:2.8%">&nbsp;</td><td
style="width:21.15%">&nbsp;</td><td style="width:1.21%">&nbsp;</td><td style="width:1.21%">&nbsp;</td><td
style="width:1.21%">&nbsp;</td><td style="width:21.15%">&nbsp;</td><td style="width:2.12%">&nbsp;</td></tr><tr><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p
style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="border-bottom: Black 1pt solid; vertical-align: bottom"><p style="color:#969696; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#969696;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p style="font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">Six Months Ended <br>May 31,
2021 (Unaudited)</p></td><td colspan="3" style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000;
border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p
style="font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">Year
Ended<br> November 30, 2020</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000;
border-bottom-style:solid; vertical-align:bottom;"><p style="font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">Operations ($):</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="2"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Investment income&#8212;net</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
9,132,366 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
19,809,340 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Net realized gain (loss) on
investments</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> (1,012,249)</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> (7,022,793)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="3" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Net change in unrealized appreciation
           <br>    (depreciation) on investments</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> 10,873,919 </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> 2,628,636 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Dividends to Preferred Shareholders</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
(27,441)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
(592,434)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">Net Increase (Decrease) in Net Assets Applicable<br>   to Common
Shareholders Resulting from <br>   Operations</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;"> 18,966,595
</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;"> 14,822,749
</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td colspan="9" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">Distributions ($):</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="2" style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">Distributions to Common Shareholders</p></td><td style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;"> (8,895,871)</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;"> (17,792,020)</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td colspan="9" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">Capital Stock Transactions ($):</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">Distributions reinvested</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> -   </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> 86,478 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Increase (Decrease) in Net Assets
<br>   from Capital Stock Transactions</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">
-   </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;"> 86,478 </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td colspan="4" style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Total
Increase (Decrease) in Net Assets <br>   Applicable to Common Shareholders</p></td><td style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;">
10,070,724 </p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2;
border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#F2F2F2; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;"> (2,882,793)</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#F2F2F2; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td colspan="9" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">Net Assets Applicable to Common Shareholders ($):</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">Beginning of Period</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> 407,089,213 </p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> 409,972,006 </p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td colspan="2"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">End of Period</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;"> 417,159,937 </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;"> 407,089,213 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td
colspan="9" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Capital Share Transactions (Common
Shares):</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Shares issued for distributions
reinvested</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;"> -   </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">
10,449 </p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td></tr><tr><td
colspan="4" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">Net Increase (Decrease) in Shares
Outstanding</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;"> -   </p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:right;"> 10,449 </p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">&#160;</p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">&#160;</p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:left;">&#160;</p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:left;">&#160;</p></td></tr><tr><td colspan="2" style=" vertical-align:top;"><p
style="color:#000000; font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; text-align:left;">See
notes to financial statements.</p></td><td style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="font-size:1pt; vertical-align:bottom">&nbsp;</td></tr></table><p style="font-family:Arial; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial; font-weight:bold;">25</font></p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<p style="font-family:Arial; font-size:11.5pt; font-style:normal; font-weight:normal; text-align:left;">FINANCIAL
HIGHLIGHTS</p><p style="font-family:Serif; font-size:10.0pt; font-style:normal; font-weight:normal; text-align:justify;"><a name="7"></a><font
style="font-family:Serif; font-style:normal; font-weight:normal;"> </font></p><p style="font-family:Serif;
font-size:10.0pt; font-style:normal; font-weight:normal; text-align:justify;">The following table describes
the performance for the fiscal periods indicated. Market price total return is calculated assuming an
initial investment made at the market price at the beginning of the period, reinvestment of all dividends
and distributions at market price during the period, and sale at the market price on the last day of
the period. These figures have been derived from the fund&#8217;s financial statements, and with respect
to common stock, market price data for the fund&#8217;s common shares.</p><table cellpadding="0" cellspacing="0"
width="100%" style="clear:both"><tr style="font-size:1pt;"><td style="width:35%">&nbsp;</td><td style="width:3.75%">&nbsp;</td><td
style="width:15%">&nbsp;</td><td style="width:9.25%">&nbsp;</td><td style="width:9.25%">&nbsp;</td><td
style="width:9.25%">&nbsp;</td><td style="width:9.25%">&nbsp;</td><td style="width:9.25%">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9; border-top:1.5pt;
border-top-color:#000000; border-top-style:solid;  vertical-align:top;"><p style="color:#141414; font-family:Cambria;
font-size:7.5pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:right; text-indent:-07.20pt;">Six
Months Ended</p></td><td colspan="5" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000;
border-top-style:solid;  font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="3" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">May 31, 2021</p></td><td colspan="5" style="background-color:#d9d9d9;
border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;">Year
Ended November 30,</p></td></tr><tr><td colspan="3" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">(Unaudited)</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">2020</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">2019</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">2018</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">2017</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">2016</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Per Share Data ($):</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Net asset value, beginning
of period</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">8.24</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">8.30</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">7.91</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">8.29</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">8.19</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">8.59</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Investment Operations:</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Investment income&#8212;net<font
style="color:#141414; font-family:Cambria; font-weight:normal;"><sup>a</sup></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">.18</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.40</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.41</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">.47</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.49</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.50</p></td></tr><tr><td colspan="2"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Net
realized and unrealized <br>gain (loss) on investments</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.20</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">(.09)</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">.43</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">(.43)</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.13</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">(.39)</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Dividends to Preferred
Shareholders <br>from investment income&#8212;net</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">(.00)<font
style="color:#000000; font-family:Cambria; font-weight:normal;"><sup>b</sup></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">(.01)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">(.03)</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">(.03)</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">(.02)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">(.01)</p></td></tr><tr><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Total
from Investment Operations</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.38</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.30</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">.81</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.01</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.60</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">.10</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Distributions to Common
Shareholders:</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="2"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Dividends
from investment <br>income&#8212;net</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">(.18)</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">(.36)</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">(.42)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">(.43)</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">(.50)</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">(.50)</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Net asset value resulting
from Auction <br>Preferred Stock tender as a discount</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">-</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">-</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">-</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.04</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">-</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">-</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Net asset value, end
of period</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">8.44</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">8.24</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">8.30</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">7.91</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">8.29</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">8.19</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#FFFFFF; border-bottom-style:solid;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Market value, end of period</p></td><td style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#FFFFFF; border-bottom-style:solid; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">8.16</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#FFFFFF; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">7.66</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#FFFFFF; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">8.19</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#FFFFFF; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">7.13</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#FFFFFF; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">8.40</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#FFFFFF; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">8.07</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Market Price Total Return
(%)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">8.97<font style="color:#000000;
font-family:Cambria; font-weight:normal;"><sup>c</sup></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">(1.87)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">21.12</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">(10.14)</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">10.46</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">7.55</p></td></tr></table><p
style="font-family:Arial; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;"><font
style="font-family:Arial; font-weight:bold;">26</font></p>

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<p style="page-break-before:always;"></p>


<table cellpadding="0" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td
style="width:25.64%">&nbsp;</td><td style="width:14.36%">&nbsp;</td><td style="width:10%">&nbsp;</td><td
style="width:10%">&nbsp;</td><td style="width:10%">&nbsp;</td><td style="width:10%">&nbsp;</td><td style="width:10%">&nbsp;</td><td
style="width:10%">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000;
border-top-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td colspan="2" style="background-color:#d9d9d9;
border-top:1.5pt; border-top-color:#000000; border-top-style:solid;  vertical-align:top;"><p style="color:#141414;
font-family:Cambria; font-size:7.5pt; font-style:normal; font-weight:normal; text-align:right;">Six Months
Ended</p></td><td colspan="5" style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000;
border-top-style:solid;  font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="3" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">May 31, 2021</p></td><td colspan="5" style="background-color:#d9d9d9;
border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;">Year
Ended November 30,</p></td></tr><tr><td colspan="3" style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid;  vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">(Unaudited)</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">2020</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">2019</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">2018</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">2017</p></td><td
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">2016</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Ratios/Supplemental Data
(%):</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="2"
style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Ratio
of total expenses to <br>average net assets <br>applicable to Common Stock<font style="color:#141414;
font-family:Cambria; font-weight:normal;"><sup>d</sup></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">1.19<font style="color:#000000; font-family:Cambria; font-weight:normal;"><sup>e</sup></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.56</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">1.86</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.73</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.41</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">1.24</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Ratio of net expenses
to <br>average net assets <br>applicable to Common Stock<font style="color:#141414; font-family:Cambria;
font-weight:normal;"><sup>d</sup></font></p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.08<font
style="color:#000000; font-family:Cambria; font-weight:normal;"><sup>e</sup></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">1.44</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.75</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.62</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">1.28</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.12</p></td></tr><tr><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Ratio
of interest and expense related to <br>floating rate notes issued to average net <br>assets applicable
to Common Stock<font style="color:#141414; font-family:Cambria; font-weight:normal;"><sup>d</sup></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.22<font style="color:#000000;
font-family:Cambria; font-weight:normal;"><sup>e</sup></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">.60</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.90</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.72</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">.35</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.21</p></td></tr><tr><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Ratio
of net investment income to <br>average net assets <br>applicable to Common Stock<font style="color:#141414;
font-family:Cambria; font-weight:normal;"><sup>d</sup></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">4.44<font style="color:#000000; font-family:Cambria; font-weight:normal;"><sup>e</sup></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">4.98</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">5.05</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">5.78</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">5.87</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">5.67</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Ratio of total expenses
to <br>total average net assets</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.06<font
style="color:#000000; font-family:Cambria; font-weight:normal;"><sup>e</sup></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">1.38</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.66</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.51</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">1.15</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.02</p></td></tr><tr><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Ratio
of net expenses to <br>total average net assets</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.96<font
style="color:#000000; font-family:Cambria; font-weight:normal;"><sup>e</sup></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">1.28</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.56</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1.41</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">1.05</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.92</p></td></tr><tr><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Ratio
of interest and expense related to <br>floating rate notes issued to <br>total average net assets</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.20<font style="color:#000000;
font-family:Cambria; font-weight:normal;"><sup>e</sup></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">.53</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.80</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.63</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">.29</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">.17</p></td></tr><tr><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Ratio
of net investment income to <br>total average net assets</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">3.96<font style="color:#000000; font-family:Cambria; font-weight:normal;"><sup>e</sup></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">4.43</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">4.50</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">5.02</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">4.79</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">4.66</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Portfolio Turnover Rate</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">6.28<font style="color:#000000;
font-family:Cambria; font-weight:normal;"><sup>c</sup></font></p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">26.56</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">41.28</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">24.57</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">11.20</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">12.90</p></td></tr><tr><td
colspan="2" style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#FFFFFF; border-bottom-style:solid;
 vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Asset Coverage of Preferred
Stock,<br>end of period</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#FFFFFF;
border-bottom-style:solid; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:right;">946</p></td><td style="background-color:#d9d9d9;
border-bottom:1.0pt; border-bottom-color:#FFFFFF; border-bottom-style:solid; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">926</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#FFFFFF; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">932</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#FFFFFF; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">892</p></td><td
style="background-color:#d9d9d9; border-bottom:1.0pt; border-bottom-color:#FFFFFF; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">540</p></td><td style="background-color:#d9d9d9; border-bottom:1.0pt;
border-bottom-color:#FFFFFF; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">533</p></td></tr><tr><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Net
Assets, applicable to <br>Common Shareholders, <br>end of period ($ x 1,000)</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">417,160</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">407,089</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">409,972</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">390,350</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">409,095</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">402,531</p></td></tr><tr><td
colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Preferred
Stock Outstanding, <br>end of period ($ x 1,000)</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">49,300</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">49,300</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">49,300</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">49,300</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">93,000</p></td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">93,000</p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;
border-bottom:1.5pt; border-bottom-color:#FFFFFF; border-bottom-style:solid;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Floating Rate Notes Outstanding, <br>end of period ($ x 1,000)</p></td><td
style="background-color:#d9d9d9; border-bottom:1.5pt; border-bottom-color:#FFFFFF; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">140,955</p></td><td style="background-color:#d9d9d9; border-bottom:1.5pt;
border-bottom-color:#FFFFFF; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">152,185</p></td><td
style="background-color:#d9d9d9; border-bottom:1.5pt; border-bottom-color:#FFFFFF; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">182,074</p></td><td style="background-color:#d9d9d9; border-bottom:1.5pt;
border-bottom-color:#FFFFFF; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">162,357</p></td><td
style="background-color:#d9d9d9; border-bottom:1.5pt; border-bottom-color:#FFFFFF; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">109,669</p></td><td style="background-color:#d9d9d9; border-bottom:1.5pt;
border-bottom-color:#FFFFFF; border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">93,369</p></td></tr></table><p
style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; margin-left:10.80pt;
text-align:left; text-indent:-10.80pt;"><font style="font-family:Serif; font-style:italic; font-weight:normal;"><sup>a</sup></font><font
style="font-family:Serif; font-style:italic; font-weight:normal;"><sup><font style="word-spacing:8.0pt;">&nbsp;</font></sup></font>Based
on average common shares outstanding.</p><p style="font-family:Serif; font-size:8.0pt; font-style:italic;
font-weight:normal; margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font style="font-family:Serif;
font-style:italic; font-weight:normal;"><sup>b</sup></font><font style="word-spacing:6.4pt;">&nbsp;</font>Amount
is less than $.01 per share.</p><p style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal;
margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font style="font-family:Serif; font-style:italic;
font-weight:normal;"><sup>c</sup></font><font style="font-family:Serif; font-style:italic; font-weight:normal;"><sup><font
style="word-spacing:8.0pt;">&nbsp;</font></sup></font>Not annualized.</p><p style="font-family:Serif;
font-size:8.0pt; font-style:italic; font-weight:normal; margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font
style="font-family:Serif; font-style:italic; font-weight:normal;"><sup>d</sup></font><font style="font-family:Serif;
font-style:italic; font-weight:normal;"><sup><font style="word-spacing:8.0pt;">&nbsp;</font></sup></font>Does
not reflect the effect of dividends to Preferred Shareholders.</p><p style="font-family:Serif; font-size:8.0pt;
font-style:italic; font-weight:normal; margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font
style="font-family:Serif; font-style:italic; font-weight:normal;"><sup>e</sup></font><font style="font-family:Serif;
font-style:italic; font-weight:normal;"><sup><font style="word-spacing:8.0pt;">&nbsp;</font></sup></font>Annualized.</p><p
style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; margin-left:10.80pt;
text-align:left; text-indent:-10.80pt;">See notes to financial statements.</p><p style="font-family:Arial;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial;
font-weight:bold;">27</font></p>

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<p style="font-family:Arial; font-size:11.5pt; font-style:normal; font-weight:normal; text-align:left;">NOTES
TO FINANCIAL STATEMENTS <font style="font-family:Arial; font-size:10.0pt; font-weight:normal;">(Unaudited)</font></p><p
style="font-family:Arial; font-size:10.0pt; font-style:normal; font-weight:bold; text-align:left;"><a name="8"></a><font
style="font-family:Arial; font-weight:bold;"> </font>NOTE 1&#8212;Significant Accounting Policies:</p><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">BNY
Mellon Strategic Municipal Bond Fund, Inc. (the &#8220;fund&#8221;), which is registered under the Investment
Company Act of 1940, as amended (the &#8220;Act&#8221;), is a diversified closed-end management investment company.
The fund&#8217;s investment objective is to seek to maximize current income exempt from federal income tax
to the extent consistent with the preservation of capital. BNY Mellon Investment Adviser, Inc. (the &#8220;Adviser&#8221;),
a wholly-owned subsidiary of The Bank of New York Mellon Corporation (&#8220;BNY Mellon&#8221;), serves as the
fund&#8217;s investment adviser. The fund&#8217;s Common Stock trades on the New York Stock Exchange (the &#8220;NYSE&#8221;)
under the ticker symbol DSM.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal;
text-align:justify;">On February 10, 2021, BNY Mellon Investment Management announced its intention to
realign several of its investment firms. As a result of this realignment, which is scheduled to occur,
subject to regulatory requirements, in the third quarter of 2021 (the &#8220;Effective Date&#8221;), portfolio
managers responsible for managing the fund&#8217;s investments who are employees of Mellon Investments Corporation
(&#8220;Mellon&#8221;) in a dual employment arrangement with the Adviser, will become employees of Insight North
America LLC (&#8220;INA&#8221;), which, like Mellon, is an affiliate of the Adviser, and will no longer be employees
of Mellon. Consequently, as of the Effective Date and subject to the approval of the fund&#8217;s Board of
Directors (the &#8220;Board&#8221;), the Adviser will engage INA to serve as the fund&#8217;s sub-adviser, pursuant
to a sub-investment advisory agreement between the Adviser and INA. As the fund&#8217;s sub-adviser, INA
will provide the day-to-day management of the fund&#8217;s investments, subject to the Adviser&#8217;s supervision
and approval. It is currently anticipated that the fund&#8217;s portfolio managers who are responsible for
the day-to-day management of the fund&#8217;s investments will continue to manage the fund&#8217;s investments
as of the Effective Date. It is also currently anticipated that there will be no material changes to
the fund&#8217;s investment objective, strategies or policies, no reduction in the nature or level of services
provided to the fund, and no increase in the management fee payable by the fund as a result of the engagement
of INA as the fund&#8217;s sub-adviser. The Adviser (and not the fund) will pay INA for its sub-advisory
services.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">The
fund has outstanding 698 Series A shares, 662 Series B shares and 612 Series C shares, Auction Preferred
Stock (&#8220;APS&#8221;), with a liquidation preference of $25,000 per share (plus an amount equal to accumulated
but unpaid dividends upon liquidation). APS dividend rates are determined pursuant to periodic auctions
or by reference to a market rate. Deutsche Bank Trust Company America, as the Auction Agent, receives
a fee from the fund for its services in connection with such auctions. The fund also </p><p style="font-family:Arial;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial;
font-weight:bold;">28</font></p>

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<p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">compensates
broker-dealers generally at an annual rate of .15%-.25% of the purchase price of shares of APS.</p><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">The
fund is subject to certain restrictions relating to the APS. Failure to comply with these restrictions
could preclude the fund from declaring any distributions to shareholders of Common Stock (&#8220;Common Shareholders&#8221;)
or repurchasing shares of Common Stock and/or could trigger the mandatory redemption of APS at liquidation
value. Thus, redemptions of APS may be deemed to be outside of the control of the fund. </p><p style="font-family:Serif;
font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">The holders of APS, voting
as a separate class, have the right to elect at least two directors. The holders of APS will vote as
a separate class on certain other matters, as required by law. The Board has designated Joni Evans and
Robin A. Melvin as director to be elected by the holders of APS.</p><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:justify;">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 is an
investment company and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial
Services-Investment Companies. The fund&#8217;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.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">The
fund<font style="color:#ff0000; font-family:Serif; font-style:normal; font-weight:normal;"> </font>enters
into contracts that contain a variety of indemnifications. The fund&#8217;s maximum exposure under these
arrangements is unknown. The fund does not anticipate recognizing any loss related to these arrangements.
</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;"><font
style="font-family:Serif; font-style:normal; font-weight:bold;">(a) Portfolio valuation:</font> 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).</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal;
font-weight:normal; text-align:justify;">Additionally, GAAP provides guidance on determining whether
the volume and activity in a market has decreased significantly and whether </p><p style="font-family:Arial;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial;
font-weight:bold;">29</font></p>

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<p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:left;">NOTES
TO FINANCIAL STATEMENTS (Unaudited) <font style="font-family:Arial; font-style:italic; font-weight:normal;">(continued)</font></p><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">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.</p><p style="font-family:Serif;
font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">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:</p><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; margin-left:18.00pt; text-align:justify;"><font style="font-family:Serif;
font-style:normal; font-weight:bold;">Level 1</font>&#8212;unadjusted quoted prices in active markets for
identical investments.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal;
margin-left:18.00pt; text-align:justify;"><font style="font-family:Serif; font-style:normal; font-weight:bold;">Level
2</font>&#8212;other significant observable inputs (including quoted prices for similar investments, interest
rates, prepayment speeds, credit risk, etc.).</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal;
font-weight:normal; margin-left:18.00pt; text-align:justify;"><font style="font-family:Serif; font-style:normal;
font-weight:bold;">Level 3</font>&#8212;significant unobservable inputs (including the fund&#8217;s own assumptions
in determining the fair value of investments).</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal;
font-weight:normal; text-align:justify;">The inputs or methodology used for valuing securities are not
necessarily an indication of the risk associated with investing in those securities.</p><p style="font-family:Serif;
font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">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:</p><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:justify;">Investments in securities are valued each
business day by an independent pricing service (the &#8220;Service&#8221;) approved by the Board. 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). Debt 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 the following: yields or prices of municipal securities of comparable quality, coupon, maturity and
type; indications as to values from dealers; and general market conditions. All of the preceding securities
are generally categorized within Level 2 of the fair value hierarchy.  </p><p style="font-family:Serif;
font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">The Service is engaged
under the general oversight of the Board.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal;
font-weight:normal; text-align:justify;">When market quotations or official closing prices are not readily
available, or are determined not to accurately reflect 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, but before the fund calculates its net asset value, the fund may value these </p><p
style="font-family:Arial; font-size:8.0pt; font-style:normal; font-weight:bold; text-align:center;">30</p>

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<p style="page-break-before:always;"></p>


<p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">investments
at fair value as determined in accordance with the procedures approved by the Board. 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 within Level 2 or 3 of the fair value hierarchy depending
on the relevant inputs used.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal;
text-align:justify;">For securities where observable inputs are limited, assumptions about market activity
and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.</p><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">The
following is a summary of the inputs used as of May 31, 2021<font style="color:#ff0000; font-family:Serif;
font-style:normal; font-weight:normal;"> </font>in valuing the fund&#8217;s investments:</p><table cellpadding="0"
cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td style="width:22.91%">&nbsp;</td><td
style="width:17.91%">&nbsp;</td><td style="width:17.91%">&nbsp;</td><td style="width:2.93%">&nbsp;</td><td
style="width:16.93%">&nbsp;</td><td style="width:19.92%">&nbsp;</td><td style="width:1.49%">&nbsp;</td></tr><tr><td
style="border-bottom:1.0pt; border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="border-bottom:1.0pt; border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">Level
1-Unadjusted Quoted Prices</p></td><td style="border-bottom:1.0pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">Level 2- Other Significant Observable Inputs</p></td><td style="border-bottom:1.0pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="border-bottom:1.0pt; border-bottom-color:#000000; border-bottom-style:solid; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">Level
3-Significant Unobservable Inputs</p></td><td style="border-bottom:1.0pt; border-bottom-color:#000000;
border-bottom-style:solid; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:right;">Total</p></td><td style="border-bottom:1.0pt;
border-bottom-color:#000000; border-bottom-style:solid; font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style=" vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Assets
($)</p></td><td style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style=" vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Investments
In Securities:<font style="color:#000000; font-family:Cambria; font-weight:normal;"><sup>&#8224;</sup></font></p></td><td
style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
style="vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Collateralized Municipal-Backed
Securities</p></td><td style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:right;">-</p></td><td style="vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1,440,495</p></td><td
style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">-</p></td><td
style="vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;">1,440,495</p></td><td style="font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
style="vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Municipal Securities</p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">-</p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">598,430,600</p></td><td
style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">-</p></td><td
style="vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;">598,430,600</p></td><td style="font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style=" vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Liabilities
($)</p></td><td style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="font-size:1pt; vertical-align:top">&nbsp;</td></tr><tr><td
colspan="5" style=" vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt;
font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Other
Financial Instruments:</p></td><td style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="font-size:1pt;
vertical-align:top">&nbsp;</td></tr><tr><td style="vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Floating
Rate Notes<font style="color:#141414; font-family:Cambria; font-weight:normal;"><sup>&#8224;&#8224;</sup></font></p></td><td
style="vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">-</p></td><td style="vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">(140,954,671)</p></td><td
style="font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">-</p></td><td
style="vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:bold; text-align:right;">(140,954,671)</p></td><td style="font-size:1pt; vertical-align:top">&nbsp;</td></tr></table><p
style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; margin-left:10.80pt;
text-align:left; text-indent:-10.80pt;"><font style="font-family:Serif; font-style:italic; font-weight:normal;"><sup>&#8224;</sup></font><font
style="word-spacing:6.4pt;">&nbsp;</font>See Statement of Investments for additional detailed categorizations,
if any.</p><p style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; margin-left:10.80pt;
text-align:left; text-indent:-10.80pt;"><font style="font-family:Serif; font-style:italic; font-weight:normal;"><sup>&#8224;&#8224;</sup></font><font
style="word-spacing:6.4pt;">&nbsp;</font>Certain of the fund&#8217;s liabilities are held at carrying amount,
which approximates fair value for financial reporting purposes.</p><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:justify;"><font style="font-family:Serif; font-style:normal;
font-weight:bold;">(b) Securities transactions and investment income:</font> Securities transactions
are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded
on the identified cost basis. Interest income, adjusted for accretion of discount and amortization of
premium on investments, is earned from settlement date and recognized on the accrual basis. Securities
purchased or sold on a when issued or delayed delivery basis may be settled a month or more after the
trade date.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal;
text-align:justify;"><font style="font-family:Serif; font-style:normal; font-weight:bold;">(c) Risk:</font>
The value of the securities in which the fund invests may be affected by political, regulatory, economic
and social developments, and developments that impact specific economic sectors, industries or segments
of the market. In addition, turbulence in financial markets and </p><p style="font-family:Arial; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial; font-weight:bold;">31</font></p>

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<p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:left;">NOTES
TO FINANCIAL STATEMENTS (Unaudited) <font style="font-family:Arial; font-style:italic; font-weight:normal;">(continued)</font></p><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">reduced
liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could
adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected,
and conditions and events in one country, region or financial market may adversely impact issuers in
a different country, region or financial market. These risks may be magnified if certain events or developments
adversely interrupt the global supply chain; in these and other circumstances, such risks might affect
companies world-wide. Recent examples include pandemic risks related to COVID-19 and aggressive measures
taken world-wide in response by governments, including closing borders, restricting international and
domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses,
including changes to operations and reducing staff. The effects of COVID-19 have contributed to increased
volatility in global markets and will likely affect certain countries, companies, industries and market
sectors more dramatically than others. The COVID-19 pandemic has had, and any other outbreak of an infectious
disease or other serious public health concern could have, a significant negative impact on economic
and market conditions and could trigger a prolonged period of global economic slowdown. To the extent
the fund may overweight its investments in certain countries, companies, industries or market sectors,
such positions will increase the fund's exposure to risk of loss from adverse developments affecting
those countries, companies, industries or sectors.</p><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:justify;"><font style="font-family:Serif; font-style:normal;
font-weight:bold;">(d) Dividends and distributions to Common Shareholders:</font> Dividends and distributions
are recorded on the ex-dividend date. Dividends from investment income-net are normally declared and
paid monthly. Dividends from net realized capital gains, if any, are normally declared and paid annually,
but the fund may make distributions on a more frequent basis to comply with the distribution requirements
of the Internal Revenue Code of 1986, as amended (the &#8220;Code&#8221;). To the extent that net realized capital
gains can be offset by capital loss carryovers, it is the policy of the fund not to distribute such gains.
Income and capital gain distributions are determined in accordance with income tax regulations, which
may differ from GAAP.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal;
text-align:justify;">Common Shareholders will have their distributions reinvested in additional shares
of the fund, unless such Common Shareholders elect to receive cash, at the lower of the market price
or net asset value per share (but not less than 95% of the market price). If market price is equal to
or exceeds net asset value, shares will be issued at net asset value. If net asset value exceeds market
price, Computershare Inc., the transfer agent for the fund&#8217;s Common Stock, will buy fund shares in
the open market and reinvest those shares accordingly.</p><p style="font-family:Arial; font-size:8.0pt;
font-style:normal; font-weight:bold; text-align:center;">32</p>

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<p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">On
May 27, 2021, the Board declared a cash dividend of $.030 per share from investment income-net, payable
on June 30, 2021 to Common shareholders of record as of the close of business on June 14, 2021. The ex-dividend
date was June 11, 2021.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal;
text-align:justify;"><font style="font-family:Serif; font-style:normal; font-weight:bold;">(e) Dividends
and distributions to shareholders of APS:</font> Dividends, which are cumulative, are generally reset
every seven days for each series of APS pursuant to a process specified in related fund charter documents.
Dividend rates as of May 31, 2021, for each series of APS were as follows: series A-0.095%, series B-0.095%
and series C-0.095%. These rates reflect the &#8220;maximum rates&#8221; under the governing instruments as a
result of &#8220;failed auctions&#8221; in which sufficient clearing bids are not received. The average dividend
rates for the period ended May 31, 2021 for each series of APS were as follows: series A-0.113%, series
B-0.109% and series C-0.112%.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal;
text-align:justify;"><font style="font-family:Serif; font-style:normal; font-weight:bold;">(f) Federal
income taxes:</font> It is the policy of the fund to continue to qualify as a regulated investment company,
which can distribute tax-exempt dividends, by complying with the applicable provisions of the Code, and
to make distributions of income and net realized capital gain sufficient to relieve it from substantially
all federal income and excise taxes.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal;
font-weight:normal; text-align:justify;">As of and during the period ended May 31, 2021, the fund did
not have any liabilities for any uncertain tax positions. The fund recognizes interest and penalties,
if any, related to uncertain tax positions as income tax expense in the Statement of Operations. During
the period ended May 31, 2021, the fund did not incur any interest or penalties.</p><p style="font-family:Serif;
font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">Each tax year in the three-year
period ended November 30, 2020 remains subject to examination by the Internal Revenue Service and state
taxing authorities.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal;
text-align:justify;">The fund is permitted to carry forward capital losses for an unlimited period. Furthermore,
capital loss carryovers retain their character as either short-term or long-term capital losses.</p><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">The
fund has an unused capital loss carryover of $7,728,781 available for federal income tax purposes to
be applied against future net realized capital gains, if any, realized subsequent to November 30, 2020.
The fund has $6,836,233 of short-term capital losses and $892,548 of long-term capital losses which can
be carried forward for an unlimited period.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal;
font-weight:normal; text-align:justify;">The tax character of distributions paid to shareholders during
the fiscal year ended November 30, 2020 was as follows: tax-exempt income $18,180,918 and ordinary income
$203,536. The tax character of current year distributions will be determined at the end of the current
fiscal year. </p><p style="font-family:Arial; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:center;"><font style="font-family:Arial; font-weight:bold;">33</font></p>

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<p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:left;">NOTES
TO FINANCIAL STATEMENTS (Unaudited) <font style="font-family:Arial; font-style:italic; font-weight:normal;">(continued)</font></p><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;"><font
style="font-family:Serif; font-style:normal; font-weight:bold;">(g) New accounting pronouncements:</font>
In March 2020, the FASB issued Accounting Standards Update 2020-04, Reference Rate Reform (Topic 848):
Facilitation of the Effects of Reference Rate Reform on Financial Reporting (&#8220;ASU 2020-04&#8221;), and
in January 2021, the FASB issued Accounting Standards Update 2021-01, Reference Rate Reform (Topic 848):
Scope (&#8220;ASU 2021-01&#8221;), which provides optional, temporary relief with respect to the financial reporting
of contracts subject to certain types of modifications due to the planned discontinuation of the LIBOR
and other interbank offered rates as of the end of 2021. The temporary relief provided by ASU 2020-04
and ASU 2021-01 is effective for certain reference rate-related contract modifications that occur during
the period from March 12, 2020 through December 31, 2022. Management is evaluating the impact of ASU
2020-04 and ASU 2021-01<font style="color:#ff0000; font-family:Serif; font-style:normal; font-weight:normal;">
</font>on the fund&#8217;s investments, derivatives, debt and other contracts that will undergo reference
rate-related modifications as a result of the reference rate reform. Management is also currently actively
working with other financial institutions and counterparties to modify contracts as required by applicable
regulation and within the regulatory deadlines.</p><p style="font-family:Arial; font-size:10.0pt; font-style:normal;
font-weight:bold; text-align:left;">NOTE 2&#8212;Investment Advisory Fee, Administration Fee and Other Transactions
with Affiliates:</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal;
text-align:justify;"><font style="font-family:Serif; font-style:normal; font-weight:bold;">(a) </font>Pursuant
to an investment advisory agreement with the Adviser, the management fee is computed at the annual rate
of .50% of the value of the fund&#8217;s average weekly net assets, inclusive of the outstanding APS, and
is payable monthly. The fund also has an administration agreement with the Adviser and a custody agreement
with The Bank of New York Mellon (the &#8220;Custodian&#8221;), a subsidiary of BNY Mellon and an affiliate of
the Adviser. The fund pays in the aggregate for administration, custody and transfer agency services,
a monthly fee based on an annual rate of .25% of the value of the fund&#8217;s average weekly net assets,
inclusive of the outstanding APS. All out-of-pocket transfer agency and custody expenses, including custody
transaction expenses, are paid separately by the fund.</p><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:justify;">The Adviser has currently undertaken, from
December 1, 2020 through November 30, 2021, to waive receipt of a portion of the fund&#8217;s investment
advisory fee, in the amount of .10% of the value of the fund&#8217;s average weekly net assets (including
net assets representing APS outstanding). The reduction in expenses, pursuant to the undertaking, amounted
to $226,624 during the period ended May 31, 2021. </p><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:justify;"><font style="font-family:Serif; font-style:normal;
font-weight:bold;">(b) </font>The fund compensates the Custodian under a custody agreement for providing
custodial services for the fund. These fees are determined based on transaction activity. During the
period ended May 31, 2021<font style="font-family:Serif; font-style:normal; font-size:11.0pt; font-weight:normal;">,
</font>the fund was charged $4,321 for out-of-pocket and custody transaction expenses, </p><p style="font-family:Arial;
font-size:8.0pt; font-style:normal; font-weight:bold; text-align:center;">34</p>

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<p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">pursuant
to the custody agreement. These fees were partially offset by earnings credits of the amount of $3,264.</p><p
style="color:#121212; font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;"><font
style="color:#000000; font-family:Serif; font-style:normal; font-weight:normal;">The fund has an arrangement
with the Custodian whereby</font> the fund may receive earnings credits when positive cash balances are
maintained, which are used to offset custody fees. For financial reporting purposes, the fund includes
net earnings credits as an expense offset in the Statement of Operations.</p><p style="font-family:Serif;
font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">During the period ended
May 31, 2021, the fund was charged $4,717 for services performed by the Chief Compliance Officer and
his staff. These fees are included in Chief Compliance Officer fees in the Statement of Operations.</p><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">The
components of &#8220;Due to BNY Mellon Investment Adviser, Inc. and affiliates&#8221; in the Statement of Assets
and Liabilities consist of: investment advisory fees of $197,244, Administration fees of $98,622, Custodian
fees of $3,475 and Chief Compliance Officer fees of $3,931, which are offset against an expense reimbursement
currently in effect in the amount of $35,603.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal;
font-weight:normal; text-align:justify;"><font style="font-family:Serif; font-style:normal; font-weight:bold;">(c)</font>
Each Board member also serves as a Board member of other funds in the BNY Mellon Family of Funds complex.
Annual retainer fees and attendance fees are allocated to each fund based on net assets. </p><p style="font-family:Arial;
font-size:10.0pt; font-style:normal; font-weight:bold; text-align:left;">NOTE 3&#8212;Securities Transactions:</p><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">The
aggregate amount of purchases and sales (including paydowns) of investment securities, excluding short-term
securities, during the period ended May 31, 2021, amounted to $29,198,081 and $28,577,573, respectively.</p><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;"><font
style="font-family:Serif; font-style:normal; font-weight:bold;">Inverse Floater Securities:</font> The
fund participates in secondary inverse floater structures in which fixed-rate, tax-exempt municipal bonds
are transferred to a trust (the &#8220;Inverse Floater Trust&#8221;). The Inverse Floater Trust typically issues
two variable rate securities that are collateralized by the cash flows of the fixed-rate, tax-exempt
municipal bonds. One of these variable rate securities pays interest based on a short-term floating rate
set by a remarketing agent at predetermined intervals (&#8220;Trust Certificates&#8221;). A residual interest
tax-exempt security is also created by the Inverse Floater Trust, which is transferred to the fund, and
is paid interest based on the remaining cash flows of the Inverse Floater Trust, after payment of interest
on the other securities and various expenses of the Inverse Floater Trust. An Inverse Floater Trust may
be collapsed without the consent of the fund due to certain termination events such as bankruptcy, default
or other credit event.</p><p style="font-family:Arial; font-size:8.0pt; font-style:normal; font-weight:normal;
text-align:center;"><font style="font-family:Arial; font-weight:bold;">35</font></p>

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<p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal; text-align:left;">NOTES
TO FINANCIAL STATEMENTS (Unaudited) <font style="font-family:Arial; font-style:italic; font-weight:normal;">(continued)</font></p><p
style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">The
fund accounts for the transfer of bonds to the Inverse Floater Trust as secured borrowings, with the
securities transferred remaining in the fund&#8217;s investments, and the Trust Certificates reflected as
fund liabilities in the Statement of Assets and Liabilities. </p><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:justify;">The fund may invest in inverse floater securities
on either a non-recourse or recourse basis. These securities are typically supported by a liquidity facility
provided by a bank or other financial institution (the &#8220;Liquidity Provider&#8221;) that allows the holders
of the Trust Certificates to tender their certificates in exchange for payment from the Liquidity Provider
of par plus accrued interest on any business day prior to a termination event. When the fund invests
in inverse floater securities on a non-recourse basis, the Liquidity Provider is required to make a payment
under the liquidity facility due to a termination event to the holders of the Trust Certificates. When
this occurs, the Liquidity Provider typically liquidates all or a portion of the municipal securities
held in the Inverse Floater Trust. A liquidation shortfall occurs if the Trust Certificates exceed the
proceeds of the sale of the bonds in the Inverse Floater Trust (&#8220;Liquidation Shortfall&#8221;). When a
fund invests in inverse floater securities on a recourse basis, the fund typically enters into a reimbursement
agreement with the Liquidity Provider where the fund is required to repay the Liquidity Provider the
amount of any Liquidation Shortfall. As a result, a fund investing in a recourse inverse floater security
bears the risk of loss with respect to any Liquidation Shortfall.</p><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:justify;">The average amount of borrowings outstanding
under the inverse floater structure during the period ended May 31, 2021 was approximately $140,641,040,
with a related weighted average annualized interest rate of .65%.</p><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:justify;">At May 31, 2021, accumulated net unrealized
appreciation on investments was $54,094,302, consisting of $54,762,096 gross unrealized appreciation
and $667,794 gross unrealized depreciation. </p><p style="font-family:Serif; font-size:10.5pt; font-style:normal;
font-weight:normal; text-align:justify;">At May 31, 2021, the cost of investments for federal income
tax purposes was substantially the same as the cost for financial reporting purposes (see the Statement
of Investments).</p><p style="font-family:Arial; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:center;">36</p>

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<p style="font-family:Arial; font-size:11.5pt; font-style:normal; font-weight:normal; text-align:left;">PROXY
RESULTS <font style="font-family:Arial; font-size:9.0pt; font-weight:normal;">(Unaudited)</font></p><p
style="font-family:Serif; font-size:10.0pt; font-style:normal; font-weight:normal; text-align:left;"><a name="9"></a><font
style="font-family:Serif; font-style:normal; font-weight:normal;"> </font>Common Shareholders and holders
of APS voted together as a single class (except as noted below) on the following proposal presented at
the annual shareholders&#8217; meeting held on June 16, 2021.</p><table cellpadding="0" cellspacing="0" width="100%"
style="clear:both"><tr style="font-size:1pt;"><td style="width:3.89%">&nbsp;</td><td style="width:39.08%">&nbsp;</td><td
style="width:19.18%">&nbsp;</td><td style="width:12.3%">&nbsp;</td><td style="width:25.54%">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; border-top:1.5pt; border-top-color:#000000; border-top-style:solid;
vertical-align:middle;"><p style="color:#000000; font-family:Calibri; font-size:11.0pt; font-style:normal;
font-weight:normal; text-align:left;">&#160;</p></td><td style="background-color:#d9d9d9; border-top:1.5pt;
border-top-color:#000000; border-top-style:solid; vertical-align:middle;"><p style="color:#000000; font-family:Calibri;
font-size:11.0pt; font-style:normal; font-weight:normal; text-align:left;">&#160;</p></td><td colspan="3"
style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
border-top:1.5pt; border-top-color:#000000; border-top-style:solid;  vertical-align:middle;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;">Shares</p><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">&#160;</p></td></tr><tr><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:middle;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> For
</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
vertical-align:middle;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">&#160;</p></td><td style="background-color:#d9d9d9; border-bottom:0.5pt;
border-bottom-color:#000000; border-bottom-style:solid; vertical-align:middle;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;"> Authority
Withheld </p></td></tr><tr><td colspan="2" style="background-color:#d9d9d9;  vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">To
elect three Class I Directors:<font style="color:#141414; font-family:Cambria; font-weight:normal;"><sup>&#8224;</sup></font></p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Joseph S. DiMartino</p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">36,572,908</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">2,868,070</p></td></tr><tr><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">Alan H. Howard</p></td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">37,107,903</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:right;">2,333,075</p></td></tr><tr><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">Joni
Evans<font style="color:#141414; font-family:Cambria; font-weight:normal;"><sup>&#8224;&#8224;</sup></font></p></td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">140</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:right;">1,522</p></td></tr></table><p
style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal; margin-left:10.80pt;
text-align:left; text-indent:-10.80pt;"><font style="font-family:Serif; font-style:italic; font-weight:normal;"><sup>&#8224;</sup></font><font
style="font-family:Serif; font-style:italic; font-weight:normal;"><sup><font style="word-spacing:8.0pt;">&nbsp;</font></sup></font>The
terms of the Class I Directors will expire in 2024.</p><p style="font-family:Serif; font-size:8.0pt;
font-style:italic; font-weight:normal; margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font
style="font-family:Serif; font-style:italic; font-weight:normal;"><sup>&#8224;&#8224;</sup></font><font style="font-family:Serif;
font-style:italic; font-weight:normal;"><sup><font style="word-spacing:8.0pt;">&nbsp;</font></sup></font>Elected
solely by APS holders; Common Shareholders not entitled to vote.</p><p style="font-family:Arial; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial; font-weight:bold;">37</font></p>

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<p style="font-family:Serif; font-size:10.0pt; font-style:normal; font-weight:normal; margin-left:21.60pt;
text-align:left; text-indent:-21.60pt;"><font style="font-family:Arial; font-size:11.5pt; font-weight:normal;">INFORMATION
ABOUT THE APPROVAL OF THE FUND&#8217;S INVESTMENT ADVISORY AGREEMENT AND APPROVAL OF SUB-INVESTMENT ADVISORY
AGREEMENT  (Unaudited)</font></p><p style="font-family:Serif; font-size:10.0pt; font-style:normal; font-weight:normal;
text-align:left;"><a name="10"></a><font style="font-family:Serif; font-style:normal; font-weight:normal;">
</font></p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">At
a meeting of the fund&#8217;s Board of Directors held on May 10, 2021 (the &#8220;Meeting&#8221;), the Board discussed
with representatives of the Adviser plans to realign Mellon Investments Corporation&#8217;s (&#8220;Mellon&#8221;)
fixed-income capabilities with Insight North America LLC (&#8220;INA&#8221;) (the &#8220;Firm Realignment&#8221;), with
such realignment scheduled to occur, subject to regulatory requirements, in the third quarter of 2021
(the &#8220;Effective Date&#8221;). The Adviser noted that, as a result of the Firm Realignment, the portfolio
managers who are currently responsible for managing the investments of the fund as employees of Mellon
in a dual employment arrangement with the Adviser, will become employees of INA as of the Effective Date.
Consequently, the Adviser proposed to engage INA to serve as the fund&#8217;s sub-investment adviser, pursuant
to a sub-investment advisory agreement between the Adviser and INA (the &#8220;New Sub-Advisory Agreement&#8221;),
to be effective on the Effective Date. In addition, the Adviser proposed amending the Fund&#8217;s current
investment advisory agreement (the &#8220;Current Advisory Agreement&#8221;) to more clearly reflect the Adviser&#8217;s
ability to employ one or more sub-investment advisers to manage the fund on a day-to-day basis and the
Adviser&#8217;s responsibility to oversee and supervise any such sub-investment adviser, and to reflect the
engagement of INA as sub-investment adviser to the fund (as proposed to be amended, the &#8220;Amended Advisory
Agreement&#8221;), to be effective on the Effective Date.</p><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:justify;">At the Meeting, the Adviser recommended the
approval of the New Sub-Advisory Agreement, pursuant to which INA would serve as sub-investment adviser
to the fund, and the Amended Advisory Agreement. The recommendation for the approval of the New Sub-Advisory
Agreement and the Amended Advisory Agreement was based on the following considerations, among others:
(i) approval of the New Sub-Advisory Agreement and the Amended Advisory Agreement would permit the fund&#8217;s
current portfolio managers to continue to be responsible for the day-to-day management of the Fund&#8217;s
portfolio after the Effective Date as employees of INA; (ii) there will be no material changes to the
fund&#8217;s investment objective, strategies or policies, no reduction in the nature or level of services
provided to the fund, and no increases in the management fee payable by the fund as a result of the proposed
changes to the investment advisory arrangements; and (iii) the Adviser (and not the fund) will pay INA
for its sub-investment advisory services. The Board also considered the fact that the Adviser stated
that it believes there are no material changes to the information the Board had previously considered
at a Board meeting on November 2-3, 2020 (the &#8220;15(c) Meeting&#8221;), at which the Board re-approved the
Current Advisory Agreement for the ensuing year, other than the information about the Firm Realignment
and INA.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">At
the Meeting, the Board, a majority of whom are not &#8220;interested persons&#8221; (as defined in the Investment
Company Act of 1940, as amended (the &#8220;1940 Act&#8221;)) of the fund (the &#8220;Independent Directors&#8221;),
considered and approved the New Sub-Advisory Agreement and the Amended Advisory Agreement. In determining
whether to approve the New Sub-Advisory Agreement and the Amended Advisory Agreement, the Board considered
the materials prepared by the Adviser received in advance of the Meeting and other information presented
at the Meeting, which included: (i) a form of the New Sub-</p><p style="font-family:Arial; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial; font-weight:bold;">38</font></p>

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<p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">Advisory
Agreement and a form of the Amended Advisory Agreement; (ii) information regarding the Firm Realignment
and how it is expected to enhance investment capabilities; (iii) information regarding INA; and (iv)
an opinion of counsel that the proposed changes to the investment advisory arrangements would not result
in an &#8220;assignment&#8221; of the Current Advisory Agreement under the 1940 Act and the Investment Advisers
Act of 1940, as amended, and, therefore, do not require the approval of fund shareholders. The Board
also considered the substance of discussions with representatives of the Adviser at the Meeting and the
15(c) Meeting.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal;
text-align:justify;"><font style="font-family:Serif; font-style:normal; font-weight:normal; text-decoration:underline;">Nature,
Extent and Quality of Services to be Provided</font>. In examining the nature, extent and quality of
the services that were expected to be provided by INA to the fund under the New Sub-Advisory Agreement,
the Board considered: (i) INA&#8217;s organization, qualification and background, as well as the qualifications
of its personnel; (ii) the expertise of the personnel providing portfolio management services, which
would remain the same after the Effective Date; and (iii) the investment strategy for the fund, which
would remain the same after the Effective Date. The Board also considered the review process undertaken
by the Adviser and the Adviser&#8217;s favorable assessment of the nature and quality of the sub-investment
advisory services expected to be provided to the fund by INA after the Effective Date. Based on their
consideration and review of the foregoing information, the Board concluded that the nature, extent and
quality of the sub-investment advisory services to be provided by INA under the New Sub-Advisory Agreement,
as well as INA&#8217;s ability to render such services based on its resources and the experience of the investment
team, which will include the fund&#8217;s current portfolio managers, were adequate and appropriate for the
fund in light of the fund&#8217;s investment objective, and supported a decision to approve the New Sub-Advisory
Agreement. The Board also considered, as it related to the Amended Advisory Agreement, that the nature,
extent and quality of the services that are provided by the Adviser are expected to remain the same,
including the Adviser&#8217;s extensive administrative, accounting and compliance infrastructures, as well
as the Adviser&#8217;s supervisory activities over the fund&#8217;s portfolio management personnel.</p><p style="font-family:Serif;
font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;"><font style="font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:underline;">Investment Performance</font>. The
Board had considered the fund&#8217;s investment performance and that of the investment team managing the
fund&#8217;s portfolio at the 15(c) Meeting (including comparative data provided by Broadridge Financial
Solutions, Inc.). The Board considered the performance and that the same investment professionals would
continue to manage the fund&#8217;s assets after the Effective Date, as factors in evaluating the services
to be provided by INA under the New Sub-Advisory Agreement after the Effective Date, and determined that
these factors, when viewed together with the other factors considered by the Board, supported a decision
to approve the New Sub-Advisory Agreement and the Amended Advisory Agreement.</p><p style="font-family:Serif;
font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;"><font style="font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:underline;">Costs of Services to be Provided and
Profitability.</font> The Board considered the proposed fee payable under the New Sub-Advisory Agreement,
noting that the proposed fee would be paid by the Adviser and, thus, would not impact the fees paid by
the fund or the Adviser&#8217;s profitability. The Board considered the fee payable to INA in relation to
the fee paid to the Adviser by the fund and the respective services provided by INA and </p><p style="font-family:Arial;
font-size:8.0pt; font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial;
font-weight:bold;">39</font></p>

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<p style="font-family:Arial; font-size:9.0pt; font-style:normal; font-weight:normal; margin-left:14.40pt;
text-align:left; text-indent:-14.40pt;">INFORMATION ABOUT THE APPROVAL OF THE FUND&#8217;S INVESTMENT ADVISORY
AGREEMENT AND APPROVAL OF SUB-INVESTMENT ADVISORY AGREEMENT  (Unaudited)<font style="font-family:Arial;
font-style:italic; font-weight:normal;"> (continued)</font></p><p style="font-family:Serif; font-size:10.5pt;
font-style:normal; font-weight:normal; text-align:justify;">the Adviser. The Board recognized that, because
INA&#8217;s fee would be paid by the Adviser, and not the fund, an analysis of profitability was more appropriate
in the context of the Board&#8217;s consideration of the fund&#8217;s Current Advisory Agreement, and that the
Board had received and considered a profitability analysis of the Adviser and its affiliates, including
INA, at the 15(c) Meeting. The Board concluded that the proposed fee payable to INA by the Adviser was
appropriate and the Adviser&#8217;s profitability was not excessive in light of the nature, extent and quality
of the services to be provided to the fund by the Adviser under the Amended Advisory Agreement and INA
under the New Sub-Advisory Agreement.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal;
font-weight:normal; text-align:justify;"><font style="font-family:Serif; font-style:normal; font-weight:normal;
text-decoration:underline;">Economies of Scale to be Realized</font>. The Board recognized that, because
the fee payable to INA would be paid by the Adviser, and not the fund, an analysis of economies of scale
was more appropriate in the context of the Board&#8217;s consideration of the Current Advisory Agreement,
which had been done at the 15(c) Meeting. At the 15(c) Meeting, the Board determined that the economies
of scale which may accrue to the Adviser and its affiliates in connection with the management of the
fund had been adequately considered by the Adviser in connection with the fee rate charged to the fund
pursuant to the Current Advisory Agreement and that, to the extent in the future it were determined that
material economies of scale had not been shared with the fund, the Board would seek to have those economies
of scale shared with the fund.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal;
text-align:justify;">The Board also considered whether there were any ancillary benefits that would accrue
to INA as a result of its relationship with the fund, and such ancillary benefits, if any, were determined
to be reasonable.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal; font-weight:normal;
text-align:justify;">In considering the materials and information described above, the Independent Directors
received assistance from, and met separately with, their independent legal counsel, and were provided
with a written description of their statutory responsibilities and the legal standards that are applicable
to the approval of investment advisory and sub-investment advisory agreements.</p><p style="font-family:Serif;
font-size:10.5pt; font-style:normal; font-weight:normal; text-align:justify;">After full consideration
of the factors discussed above, with no single factor identified as being of paramount importance, the
Board, a majority of whom are Independent Directors, with the assistance of independent legal counsel,
approved the New Sub-Advisory Agreement and Amended Advisory Agreement for the fund effective as of the
Effective Date.</p><p style="font-family:Arial; font-size:8.0pt; font-style:normal; font-weight:bold;
text-align:center;">40</p>

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<p style="font-family:Arial; font-size:11.0pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Arial; font-size:11.5pt; font-weight:normal;">OFFICERS AND DIRECTORS</font><br>BNY
Mellon Strategic Municipal Bond Fund, Inc.</p><p style="font-family:Serif; font-size:10.5pt; font-style:normal;
font-weight:normal; text-align:left;">240 Greenwich Street<br>New York, NY 10286</p><table cellpadding="2"
cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td style="width:42%">&nbsp;</td><td
style="width:8%">&nbsp;</td><td style="width:42%">&nbsp;</td><td style="width:8%">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:9.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;"><a name="11"></a><font
style="color:#000000; font-family:Cambria; font-weight:bold;"> </font>Directors</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:9.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Officers (continued)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Joseph S. DiMartino, Chairman</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Assistant Treasurers (continued)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Agency FB; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;"><font style="color:#141414; font-family:Cambria;
font-weight:normal;">Gordon J. Davis</font><font style="color:#141414; font-family:Agency FB; font-weight:normal;"><sup>&#8224;</sup></font></p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">    Robert Salviolo</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Joni Evans<font style="color:#141414;
font-family:Cambria; font-weight:normal;"><sup>&#8224;&#8224;</sup></font></p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">    Robert Svagna</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Joan Gulley</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">Chief Compliance Officer</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Alan H. Howard</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">    Joseph W. Connolly</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Agency FB; font-size:8.0pt; font-style:normal; font-weight:normal;
margin-left:07.20pt; text-align:left; text-indent:-07.20pt;"><font style="color:#141414; font-family:Cambria;
font-weight:normal;">Robin A. Melvin </font><font style="color:#141414; font-family:Agency FB; font-weight:normal;"><sup>&#8224;&#8224;</sup></font></p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:9.0pt; font-style:normal;
font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Portfolio Managers</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Burton N. Wallack</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Daniel A. Rabasco</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Benaree Pratt Wiley</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Jeffrey B. Burger</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:top;"><p style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal;
margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font style="font-family:Serif; font-style:italic;
font-weight:normal;"><sup>&#8224;   </sup></font>Interested Board Member</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:top;"><p style="font-family:Serif; font-size:8.0pt; font-style:italic;
font-weight:normal; margin-left:10.80pt; text-align:left; text-indent:-10.80pt;"><font style="font-family:Serif;
font-style:italic; font-weight:normal;"><sup>&#8224;&#8224;</sup></font> Elected by APS Holders</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:top">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:9.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Officers</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:9.0pt; font-style:normal;
font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Investment Adviser and
Administrator</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">President</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">BNY Mellon Investment
Adviser, Inc.</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">
   David DiPetrillo</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:9.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Custodian</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Chief Legal Officer</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">The Bank of New York
Mellon</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">
   Peter M. Sullivan</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:9.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Counsel</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Vice President and Secretary</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
vertical-align:bottom;"><p style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal;
font-weight:normal; text-align:left;">Proskauer Rose LLP</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">    James Bitetto</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:9.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Transfer Agent,</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Vice President and Secretaries</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:9.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Dividend -Paying Agent</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">    Deirdre Cunnane</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:9.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Disbursing Agent and Registrar</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">    Sarah S. Kelleher</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Computershare Inc.</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">    Jeff Prusnofsky</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">(Common Stock)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">    Amanda Quinn</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Deutsche Bank Trust Company America</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">    Natalya Zelensky</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">(Auction Preferred Stock)</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:9.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">Auction
Agent</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Deutsche Bank Trust Company America</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Treasurer</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left;
text-indent:-07.20pt;">(Auction Preferred Stock)</p></td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">    James Windels</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:9.0pt; font-style:normal; font-weight:bold; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Stock Exchange Listing</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#141414; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt;
text-align:left; text-indent:-07.20pt;">Assistant Treasurers</p></td><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p
style="color:#000000; font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">NYSE
Symbol: DSM</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#141414; font-family:Cambria;
font-size:8.0pt; font-style:normal; font-weight:normal; margin-left:07.20pt; text-align:left; text-indent:-07.20pt;">
   Gavin C. Reilly</p></td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000; font-family:Cambria;
font-size:9.0pt; font-style:normal; font-weight:bold; text-align:left;">Initial SEC Effective Date</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; vertical-align:bottom;"><p style="color:#000000;
font-family:Cambria; font-size:8.0pt; font-style:normal; font-weight:normal; text-align:left;">11/22/89</p></td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td style="background-color:#d9d9d9;
font-size:1pt; vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt;
vertical-align:bottom">&nbsp;</td><td style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td><td
style="background-color:#d9d9d9; font-size:1pt; vertical-align:bottom">&nbsp;</td></tr><tr><td colspan="4"
style=" vertical-align:bottom;"><p style="font-family:Serif; font-size:8.0pt; font-style:italic; font-weight:normal;
text-align:left;">The fund&#8217;s net asset value per share appears in the following publications: Barron&#8217;s,
Closed-End Bond Funds section under the heading &#8220;Municipal Bond Funds&#8221; every Monday; and The Wall
Street Journal, Mutual Funds section under the heading &#8220;Closed-End Funds&#8221; every Monday.</p></td></tr><tr><td
colspan="4" style=" vertical-align:bottom;"><p style="font-family:Serif; font-size:8.0pt; font-style:italic;
font-weight:normal; text-align:left;">Notice is hereby given in accordance with Section 23(c) of the
Act that the fund may purchase shares of its Common Stock in the open market when it can do so at prices
below the then current net asset value per share.</p></td></tr></table><p style="font-family:Arial; font-size:8.0pt;
font-style:normal; font-weight:normal; text-align:center;"><font style="font-family:Arial; font-weight:bold;">41</font></p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


<div style="border-bottom:1pt; border-bottom-color:#000000; border-bottom-style:solid; padding:0pt 0pt
1pt 0pt;"><div style="font-family:Arial; font-size:36.0pt; font-style:normal; font-weight:normal; text-align:left;">For
More Information</div></div><p style="font-family:Arial; font-size:10.0pt; font-style:normal; font-weight:bold;
text-align:left;">BNY Mellon Strategic Municipal Bond Fund, Inc.</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt">240 Greenwich Street</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt">New York, NY 10286</p><p style="font-family:Arial;
font-size:10.0pt; font-style:normal; font-weight:bold; text-align:left;">Adviser and Administrator</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt">BNY
Mellon Investment Adviser, Inc.</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt">240 Greenwich Street</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt">New York, NY 10286</p><p style="font-family:Arial;
font-size:10.0pt; font-style:normal; font-weight:bold; text-align:left;">Custodian</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt">The Bank of New York Mellon</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt">240
Greenwich Street</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt">New York, NY 10286</p><p style="font-family:Arial; font-size:10.0pt; font-style:normal;
font-weight:bold; text-align:left;">Transfer Agent &amp;<br>Registrar (Common Stock)</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt">Computershare Inc.</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt">480 Washington Boulevard</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt">Jersey
City, NJ 07310</p><p style="font-family:Arial; font-size:10.0pt; font-style:normal; font-weight:bold;
text-align:left;">Dividend Disbursing Agent (Common Stock)</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt">Computershare Inc.</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt">P.O. Box 30170</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt">College Station, TX 77842</p><table
cellpadding="2" cellspacing="0" width="100%" style="clear:both"><tr style="font-size:1pt;"><td style="width:20%">&nbsp;</td><td
style="width:80%">&nbsp;</td></tr><tr><td style="border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
border-top:0.5pt; border-top-color:#000000; border-top-style:solid; font-size:1pt; vertical-align:top;"><p
style="font-family:Serif; font-size:10.0pt; font-style:normal; font-weight:bold; text-align:left;">Ticker
Symbol:</p></td><td style="border-bottom:0.5pt; border-bottom-color:#000000; border-bottom-style:solid;
border-top:0.5pt; border-top-color:#000000; border-top-style:solid; vertical-align:bottom;"><p style="font-family:Serif;
font-size:10.0pt; font-style:normal; font-weight:normal; text-align:left;">DSM</p></td></tr></table><p
style="font-family:Serif; font-size:8.5pt; font-style:normal; font-weight:normal; text-align:left;"><font
style="font-family:Serif; font-style:normal; font-size:10.0pt; font-weight:normal;">For more information
about the fund, visit https://im.bnymellon.com/us/en/products/closed-end-funds.jsp. Here you will find
the fund&#8217;s most recently available quarterly fact sheets and other information about the fund. The
information posted on the fund&#8217;s website is subject to change without notice. </font></p><p style="font-family:Serif;
font-size:10.0pt; font-style:normal; font-weight:normal; text-align:left;">The fund files its complete
schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form
N-PORT. The fund&#8217;s Forms N-PORT are available on the SEC&#8217;s website at <font style="font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:underline;">www.sec.gov</font>.</p><p style="font-family:Serif;
font-size:10.0pt; font-style:normal; font-weight:normal; text-align:left;">A description of the policies
and procedures that the fund uses to determine how to vote proxies relating to portfolio securities and
information regarding how the fund voted these proxies for the most recent 12-month period ended June
30 is available at www.im.bnymellon.com<font style="color:#0000ff; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:underline;"> </font>and on the SEC&#8217;s website at www.sec.gov and
without charge, upon request, by calling 1-800-373-9387.</p><table cellpadding="2" cellspacing="0" width="100%"
style="clear:both"><tr style="font-size:1pt;"><td style="width:50%">&nbsp;</td><td style="width:50%">&nbsp;</td></tr><tr><td
style="font-size:1pt; vertical-align:bottom;"><p style="font-family:Serif; font-size:8.5pt; font-style:normal;
font-weight:normal; text-align:left;"><br>0852SA0521</p></td><td style="vertical-align:bottom;"><p style="font-family:Serif;
font-size:8.5pt; font-style:normal; font-weight:normal; text-align:right;"><img src="img_81188a18333f4.jpg"></p></td></tr></table>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>&nbsp;</B></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 2.</B></TD><TD><B>Code of Ethics.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.75in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 3.</B></TD><TD><B>Audit Committee Financial Expert.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.75in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 4.</B></TD><TD><B>Principal Accountant Fees and Services.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.75in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 5.</B></TD><TD><B>Audit Committee of Listed Registrants.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.75in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 6.</B></TD><TD><B>Investments.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">(a) <B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;</B>Not
applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 7.</B></TD><TD><B>Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.75in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 8.</B></TD><TD><B>Portfolio Managers of Closed-End Management Investment Companies.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 9.</B></TD><TD><B>Purchases of Equity Securities by Closed-End Management Investment Companies and Affiliated Purchasers.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.75in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 10.</B></TD><TD><B>Submission of Matters to a Vote of Security Holders.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.75in">There have been
no material changes to the procedures applicable to Item 10.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 11.</B></TD><TD><B>Controls and Procedures.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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-CSR
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-CSR 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
were no changes to the Registrant's internal control over financial reporting that occurred during the second fiscal quarter of
the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's
internal control over financial reporting.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 12.</B></TD><TD><B>Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.25in">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Not applicable.</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 13.</B></TD><TD><B>Exhibits.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">(a)(1)&#9;Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><A HREF="exh-302.htm" STYLE="-sec-extract: exhibit">(a)(2)&#9;Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940</A>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)(3)&#9;Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><A HREF="exh-906.htm" STYLE="-sec-extract: exhibit">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certification of principal executive and principal financial officers as required by Rule 30a-2(b) under the Investment Company Act of 1940</A>.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">SIGNATURES<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">BNY Mellon Strategic Municipal Bond Fund, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">By:&#9;<U>/s/ David DiPetrillo <BR>
</U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;David DiPetrillo</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;President (Principal Executive Officer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date:&#9;July 21, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">By:&#9;<U>/s/ David DiPetrillo</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;David DiPetrillo</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;President (Principal Executive Officer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date:&#9;July 21, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">By:&#9;<U>/s/ James Windels</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;James Windels</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Treasurer (Principal Financial Officer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date:&#9;July 21, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(a)(2)&#9;Certifications of principal
executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certification
of principal executive and principal financial officers as required by Rule 30a-2(b) under the Investment Company Act of 1940.
(EX-99.906CERT)</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: right">[EX-99.CERT]&#8212;Exhibit (a)(2)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECTION 302 CERTIFICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in">I, David DiPetrillo,, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in">1. I have reviewed this report on Form
N-CSR of BNY Mellon Strategic Municipal Bond Fund, Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">2. Based on my knowledge,
this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by
this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">3. Based on my knowledge,
the financial statements, and other financial information included in this report, fairly present in all material respects the
financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to
include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">4. The registrant's
other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined
in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d)
under the Investment Company Act of 1940) for the registrant and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(d) Disclosed
in this report any change in the registrant's internal control over financial reporting that occurred during the period covered
by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over
financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">5. The registrant's
other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board
of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 13.7pt; text-align: justify; text-indent: 0in">(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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/
David DiPetrillo</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">David DiPetrillo</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">President (Principal Executive Officer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July
21, 2021</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">SECTION 302 CERTIFICATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in">I, James Windels, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in">1. I have reviewed this report on Form
N-CSR of BNY Mellon Strategic Municipal Bond Fund, Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">2. Based on my knowledge,
this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by
this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">3. Based on my knowledge,
the financial statements, and other financial information included in this report, fairly present in all material respects the
financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to
include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">4. The registrant's
other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined
in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d)
under the Investment Company Act of 1940) for the registrant and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(d) Disclosed
in this report any change in the registrant's internal control over financial reporting that occurred during the period covered
by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over
financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">5. The registrant's
other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board
of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/
James Windels</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">James Windels</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">Treasurer (Principal Financial Officer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July
21, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>


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<TYPE>EX-99.906 CERT
<SEQUENCE>3
<FILENAME>exh-906.htm
<DESCRIPTION>CERTIFICATION REQUIRED BY SECTION 906
<TEXT>
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<HEAD>
<TITLE></TITLE>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">[EX-99.906CERT]</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">Exhibit (b)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">SECTION 906 CERTIFICATIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In connection with this
report on Form N-CSR for the Registrant as furnished to the Securities and Exchange Commission on the date hereof (the &quot;Report&quot;),
the undersigned hereby certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
information contained in the Report fairly presents, in all material respects, the financial condition and results of operations
of the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/
David DiPetrillo</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">David DiPetrillo</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">President (Principal Executive Officer)<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July
21, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/
James Windels</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">James Windels</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">Treasurer (Principal Financial Officer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July
21, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>This certificate is furnished pursuant to the requirements of
Form N-CSR and shall not be deemed &quot;filed&quot; for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise
subject to the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities
Act of 1933 or the Securities Exchange Act of 1934.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
