<SEC-DOCUMENT>0001206774-20-003135.txt : 20201207
<SEC-HEADER>0001206774-20-003135.hdr.sgml : 20201207
<ACCEPTANCE-DATETIME>20201207083240
ACCESSION NUMBER:		0001206774-20-003135
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20200930
FILED AS OF DATE:		20201207
DATE AS OF CHANGE:		20201207
EFFECTIVENESS DATE:		20201207

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Delaware Investments National Municipal Income Fund
		CENTRAL INDEX KEY:			0000895574
		IRS NUMBER:				411737161
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0330

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07410
		FILM NUMBER:		201371434

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE INVESTMENTS FLORIDA INSURED MUNICIPAL INCOME FUND
		DATE OF NAME CHANGE:	20020327

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR FLORIDA INSURED MUNICIPAL INCOME FUND
		DATE OF NAME CHANGE:	19930519

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR FLORIDA INSURD MUNICIPAL INCOME FUND
		DATE OF NAME CHANGE:	19930122
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>diinmif3826701-ncsrs.htm
<DESCRIPTION>CERTIFIED SEMI-ANNUAL SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
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<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">UNITED STATES SECURITIES AND EXCHANGE COMMISSION</FONT></B></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">Washington, D.C. 20549</FONT></B></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">FORM N-CSR</FONT></B></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT<BR></FONT></B><B><FONT size=2 face="Times New Roman">INVESTMENT COMPANIES</FONT></B></P>
<TABLE style="BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="49%" noWrap align=left><FONT size=2 face="Times New Roman">Investment Company Act file number:</FONT></TD>
   <TD vAlign=top width="1%" noWrap align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="50%" noWrap align=left><FONT size=2 face="Times New Roman">811-07410<BR>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="49%" noWrap align=left><FONT size=2 face="Times New Roman">Exact name of registrant as specified in charter:</FONT></TD>
   <TD vAlign=top width="1%" noWrap align=right></TD>
   <TD vAlign=top width="50%" noWrap align=left><FONT size=2 face="Times New Roman">Delaware Investments National Municipal<BR>
Income Fund<BR>
&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="49%" noWrap align=left><FONT size=2 face="Times New Roman">Address of principal executive offices:</FONT></TD>
   <TD vAlign=top width="1%" noWrap align=right></TD>
   <TD vAlign=top width="50%" noWrap align=left><FONT size=2 face="Times New Roman">610 Market Street</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="49%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=right></TD>
   <TD vAlign=top width="50%" noWrap align=left><FONT size=2 face="Times New Roman">Philadelphia, PA 19106<BR>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="49%" noWrap align=left><FONT size=2 face="Times New Roman">Name and address of agent for service:</FONT></TD>
   <TD vAlign=top width="1%" noWrap align=right></TD>
   <TD vAlign=top width="50%" noWrap align=left><FONT size=2 face="Times New Roman">David F. Connor, Esq.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="49%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=right></TD>
   <TD vAlign=top width="50%" noWrap align=left><FONT size=2 face="Times New Roman">610 Market Street</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="49%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=right></TD>
   <TD vAlign=top width="50%" noWrap align=left><FONT size=2 face="Times New Roman">Philadelphia, PA 19106<BR>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="49%" noWrap align=left><FONT size=2 face="Times New Roman">Registrant&#8217;s telephone number, including area code:</FONT></TD>
   <TD vAlign=top width="1%" noWrap align=right></TD>
   <TD vAlign=top width="50%" noWrap align=left><FONT size=2 face="Times New Roman">(800) 523-1918<BR>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="49%" noWrap align=left><FONT size=2 face="Times New Roman">Date of fiscal year end:</FONT></TD>
   <TD vAlign=top width="1%" noWrap align=right></TD>
   <TD vAlign=top width="50%" noWrap align=left><FONT size=2 face="Times New Roman">March 31<BR>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="49%" noWrap align=left><FONT size=2 face="Times New Roman">Date of reporting period:</FONT></TD>
   <TD vAlign=top width="1%" noWrap align=right></TD>
   <TD vAlign=top width="50%" noWrap align=left><FONT size=2 face="Times New Roman">September 30, 2020</FONT></TD></TR></TABLE>
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<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Item 1. Reports to Stockholders</FONT></P>
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<DIV
style="clear:both;padding-top:27pt;width:85.88%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:20pt;font-style:Normal;font-weight:bold;line-height:23pt;margin-top:24pt;text-align:right;text-decoration:none;text-transform:none;">Semiannual report</DIV>
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<DIV
style="padding-top:10pt;width:85.88%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:12.5pt;font-style:Normal;font-weight:Normal;line-height:15.5pt;margin-top:30pt;text-align:left;text-decoration:none;text-transform:none;">Closed-end funds</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:12.5pt;font-style:Normal;font-weight:Normal;line-height:15.5pt;margin-top:30pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie Closed-End Municipal Bond Funds</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:12.5pt;font-style:Normal;font-weight:Normal;line-height:15.5pt;margin-top:12pt;text-align:left;text-decoration:none;text-transform:none;">September 30, 2020</DIV>
<DIV
style="border:0.5pt solid black;margin-top:15pt;">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:Normal;line-height:13pt;margin-top:8pt;padding-left:0.78%;text-align:left;text-decoration:none;text-transform:none;">Beginning on or
about June 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of your Fund&#8217;s shareholder reports will no longer be sent to you by mail, unless you specifically
request them from the Fund or from your financial intermediary, such as a broker/dealer, bank, or insurance company. Instead, you will be notified by mail each time a report is posted on the website and provided with
a link to access the report.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:Normal;line-height:13pt;margin-top:8pt;padding-left:0.78%;text-align:left;text-decoration:none;text-transform:none;">If you already
elected to receive shareholder reports electronically, you will not be affected by this change and you do not need to take any action. You may elect to receive shareholder reports and other communications from the
Fund electronically by logging into your Investor Center account at computershare.com/investor and going to &#8220;Communication Preferences&#8221; or by calling Computershare and speaking to a representative.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:Normal;line-height:13pt;margin-top:8pt;padding-left:0.78%;text-align:left;text-decoration:none;text-transform:none;">You may elect to
receive paper copies of all future shareholder reports free of charge. You can inform the Fund that you wish to continue receiving paper copies of your shareholder reports by contacting us at 866 437-0252. If you own
these shares through a financial intermediary, you may contact your financial intermediary to elect to continue to receive paper copies of your shareholder reports. Your election to receive reports in paper will apply
to all funds held with the Delaware Funds by Macquarie or your financial intermediary.</DIV>
</DIV>
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style="color:#000000;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:bold;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Table of contents</DIV>
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:97.44%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:12pt;padding-top:7.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:95.53%;"><DIV
style="float:left;"><FONT
><A href="#x_FB-TOC-FundBasics-3514_1">Fund basics</A></FONT></DIV><HR
style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-6pt;margin-top:6pt;padding-top:3pt;vertical-align:auto;"
noshade="noshade">
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:10pt;padding-top:7.5pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.47%;">1
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:12pt;padding-top:2.25pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:95.53%;"><DIV
style="float:left;"><FONT
><A href="#x_STSA-TOC-SecurityTypeSectorAllocation-3514_1">Security type / sector / state allocations</A></FONT></DIV><HR
style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-6pt;margin-top:6pt;padding-top:3pt;vertical-align:auto;"
noshade="noshade">
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:10pt;padding-top:2.25pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.47%;">2
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:12pt;padding-top:2.25pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:95.53%;"><DIV
style="float:left;"><FONT
><A href="#x_SOI-TOC-ScheduleofInvestments-3514_1">Schedules of investments</A></FONT></DIV><HR
style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-6pt;margin-top:6pt;padding-top:3pt;vertical-align:auto;"
noshade="noshade">
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:10pt;padding-top:2.25pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.47%;">4
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:12pt;padding-top:2.25pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:95.53%;"><DIV
style="float:left;"><FONT
><A href="#x_FS-TOC-FinancialStatements-3514_1">Statements of assets and liabilities</A></FONT></DIV><HR
style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-6pt;margin-top:6pt;padding-top:3pt;vertical-align:auto;"
noshade="noshade">
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:10pt;padding-top:2.25pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.47%;">28
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<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:12pt;padding-top:2.25pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:95.53%;"><DIV
style="float:left;"><FONT
><A href="#x_FS-TOC-FinancialStatements-3514_2">Statements of operations</A></FONT></DIV><HR
style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-6pt;margin-top:6pt;padding-top:3pt;vertical-align:auto;"
noshade="noshade">
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:10pt;padding-top:2.25pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.47%;">29
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:12pt;padding-top:2.25pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:95.53%;"><DIV
style="float:left;"><FONT
><A href="#x_FS-TOC-FinancialStatements-3514_3">Statements of changes in net assets</A></FONT></DIV><HR
style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-6pt;margin-top:6pt;padding-top:3pt;vertical-align:auto;"
noshade="noshade">
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:10pt;padding-top:2.25pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.47%;">30
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:12pt;padding-top:2.25pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:95.53%;"><DIV
style="float:left;"><FONT
><A href="#x_FS-TOC-FinancialStatements-3514_4">Statements of cash flows</A></FONT></DIV><HR
style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-6pt;margin-top:6pt;padding-top:3pt;vertical-align:auto;"
noshade="noshade">
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:10pt;padding-top:2.25pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.47%;">31
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:12pt;padding-top:2.25pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:95.53%;"><DIV
style="float:left;"><FONT
><A href="#x_FIHI-TOC-FiHi-3514_1">Financial highlights</A></FONT></DIV><HR
style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-6pt;margin-top:6pt;padding-top:3pt;vertical-align:auto;"
noshade="noshade">
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:10pt;padding-top:2.25pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.47%;">32
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:12pt;padding-top:2.25pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:95.53%;"><DIV
style="float:left;"><FONT
><A href="#x_NTF-TOC-NotestoFinancialStatements-3514_1">Notes to financial statements</A></FONT></DIV><HR
style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-6pt;margin-top:6pt;padding-top:3pt;vertical-align:auto;"
noshade="noshade">
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:10pt;padding-top:2.25pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.47%;">38
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:12pt;padding-top:2.25pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:95.53%;"><DIV
style="float:left;"><FONT
><A href="#x_OFIC-TOC-OtherFundInformation-3510_1">Other Fund Information</A></FONT></DIV><HR
style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-6pt;margin-top:6pt;padding-top:3pt;vertical-align:auto;"
noshade="noshade">
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.25pt;padding-left:10pt;padding-top:2.25pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.47%;">45
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:9pt;padding-left:12pt;padding-top:2.25pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:bottom;width:95.53%;"><DIV
style="float:left;"><FONT
><A href="#x_ATO-TOC-Abouttheorganization-3514_1">About the organization</A></FONT></DIV><HR
style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-6pt;margin-top:6pt;padding-top:3pt;vertical-align:auto;"
noshade="noshade">
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:9pt;padding-left:10pt;padding-top:2.25pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.47%;">50
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:5pt;padding-left:2.56%;text-align:left;text-decoration:none;text-transform:none;">Macquarie Asset
Management (MAM) offers a diverse range of products including securities investment management, infrastructure and real asset management, and fund and equity-based structured products. Macquarie Investment Management
(MIM) is the marketing name for certain companies comprising the asset management division of Macquarie Group. This includes the following investment advisors: Macquarie Investment Management Business Trust (MIMBT),
Macquarie Funds Management Hong Kong Limited, Macquarie Investment Management Austria Kapitalanlage AG, Macquarie Investment Management Global Limited, Macquarie Investment Management Europe Limited, and Macquarie
Investment Management Europe S.A. For more information, including press releases, please visit delawarefunds.com/closed-end.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:5pt;padding-left:2.56%;text-align:left;text-decoration:none;text-transform:none;">Unless otherwise
noted, views expressed herein are current as of September 30, 2020, and subject to change for events occurring after such a date.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:5pt;padding-left:2.56%;text-align:left;text-decoration:none;text-transform:none;">The Funds are
not FDIC insured and are not guaranteed. It is possible to lose the principal amount invested.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:5pt;padding-left:2.56%;text-align:left;text-decoration:none;text-transform:none;">Advisory
services provided by Delaware Management Company, a series of MIMBT, a US registered investment advisor.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:5pt;padding-left:2.56%;text-align:left;text-decoration:none;text-transform:none;">Other than
Macquarie Bank Limited (MBL), none of the entities noted are authorized deposit-taking institutions for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not
represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities, unless noted otherwise.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:5pt;padding-left:2.56%;text-align:left;text-decoration:none;text-transform:none;">The Funds are
governed by US laws and regulations.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:5pt;padding-left:2.56%;text-align:left;text-decoration:none;text-transform:none;">All third-party
marks cited are the property of their respective owners.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:5pt;padding-left:2.56%;text-align:left;text-decoration:none;text-transform:none;">&#169;2020
Macquarie Management Holdings, Inc.</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_FB-TOC-FundBasics-3514_1">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Fund basics</DIV>
</DIV>
<DIV
style="margin-top:7pt;">
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
Colorado Municipal Income Fund, Inc.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">As of September 30, 2020
(Unaudited)</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Fund objective</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The Fund seeks to provide current
income exempt from both regular federal income tax and Colorado state income tax, consistent with the preservation of capital.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Total Fund net assets</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">$73 million</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Number of holdings</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">123</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Fund start date</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">July 29, 1993</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">NYSE American symbol</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">VCF</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">CUSIP number</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">246101109</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
Minnesota Municipal Income Fund II, Inc.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">As of September 30, 2020
(Unaudited)</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Fund objective</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The Fund seeks to provide current
income exempt from both regular federal income tax and Minnesota state personal income tax, consistent with the preservation of capital.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Total Fund net assets</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">$170 million</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Number of holdings</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">208</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Fund start date</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">February 26, 1993</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">NYSE American symbol</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">VMM</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">CUSIP number</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">24610V103</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
National Municipal Income Fund, Inc.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">As of September 30, 2020
(Unaudited)</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Fund objective</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The Fund seeks to provide current
income exempt from regular federal income tax, consistent with the preservation of capital.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Total Fund net assets</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">$65 million</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Number of holdings</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">175</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Fund start date</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">February 26, 1993</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">NYSE American symbol</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">VFL</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">CUSIP number</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">24610T108</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;">&nbsp;
<DIV
style="clear:both;width:13.11%;" type="Block">
<DIV
style="clear:both;color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:360pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;1</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_STSA-TOC-SecurityTypeSectorAllocation-3514_1">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Security type / sector / state allocations</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:Normal;line-height:14pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">As of September 30, 2020
(Unaudited)</DIV>
</DIV>
<DIV
style="margin-top:48pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Sector designations may be
different than the sector designations presented in other Fund materials.</DIV>
</DIV>
<DIV
style="margin-top:13pt;">
<DIV
style="float:left;overflow:hidden;position:relative;width:48.40%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
Colorado Municipal Income Fund,Inc.</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-bottom:0.5pt solid #000000;border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100.0%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:6pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Security type / sector
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:4.5pt;padding-right:9pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:22.62%;">Percentage of net assets
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:75.60%;">Municipal Bonds*
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.25pt;padding-left:4.5pt;padding-right:9pt;padding-top:2pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">136.11%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Corporate Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">6.73%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Education Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">17.59%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Electric Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">3.82%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Healthcare Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">36.12%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Lease Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">4.08%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Local General Obligation Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">14.81%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Pre-Refunded/Escrowed to Maturity Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">15.14%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Special Tax Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">23.02%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">State General Obligation Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">1.85%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Transportation Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">9.96%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Water &amp; Sewer Revenue Bonds
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:16.30pt;padding-right:9pt;
padding-top:1.25pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">2.99%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Short-Term Investments
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:14.90pt;padding-right:9pt;padding-top:2pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">3.13%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Total Value of Securities
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:4.5pt;padding-right:9pt;padding-top:2pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">139.24%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:2pt;
text-align:left;text-decoration:none;text-indent:-10pt;text-transform:none;vertical-align:bottom;width:75.60%;">Liabilities Net of Receivables and Other Assets
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:6.74pt;padding-right:9pt;padding-top:2pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">(39.24%)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:75.60%;">Total Net Assets
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:4.5pt;padding-right:9pt;padding-top:2pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">100.00%
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:98.48%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;" colspan="2">*<FONT
style="font-size:8pt;font-style:italic;line-height:11pt;">As of the date of this report, Delaware Investments<SUP
style="font-size:6pt;font-style:italic;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Colorado Municipal Income Fund, Inc. held bonds issued by or on behalf of territories and the states of the US as
follows:</FONT>
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-bottom:0.5pt solid #000000;border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100.0%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:6pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">State / territory
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:4.5pt;padding-right:9pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:22.62%;">Percentage of net assets
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Colorado
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:4.5pt;padding-right:9pt;padding-top:2pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">125.76%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Guam
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:14.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">1.98%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Puerto Rico
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:9.30pt;padding-right:9pt;
padding-top:1.25pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">11.50%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:75.60%;">Total Value of Securities
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:7.49pt;padding-right:9pt;padding-top:2pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">97.97%
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48.40%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
Minnesota Municipal Income Fund II,Inc.</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-bottom:0.5pt solid #000000;border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100.0%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:6pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Security type / sector
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:4.5pt;padding-right:9pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:22.62%;">Percentage of net assets
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:75.60%;">Municipal Bonds*
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.25pt;padding-left:4.5pt;padding-right:9pt;padding-top:2pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">140.75%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Corporate Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">1.84%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Education Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">22.40%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Electric Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">15.36%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Healthcare Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">38.09%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Housing Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">1.67%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Lease Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">8.96%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Local General Obligation Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">15.71%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Pre-Refunded/Escrowed to Maturity Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">15.71%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Special Tax Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">3.22%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">State General Obligation Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">6.92%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Transportation Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">7.66%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Water &amp; Sewer Revenue Bonds
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:16.30pt;padding-right:9pt;
padding-top:1.25pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">3.21%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Short-Term Investments
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:14.90pt;padding-right:9pt;padding-top:2pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">1.47%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Total Value of Securities
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:4.5pt;padding-right:9pt;padding-top:2pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">142.22%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:2pt;
text-align:left;text-decoration:none;text-indent:-10pt;text-transform:none;vertical-align:bottom;width:75.60%;">Liabilities Net of Receivables and Other Assets
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:6.74pt;padding-right:9pt;padding-top:2pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">(42.22%)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:75.60%;">Total Net Assets
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:4.5pt;padding-right:9pt;padding-top:2pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">100.00%
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:97.72%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;" colspan="2">*<FONT
style="font-size:8pt;font-style:italic;line-height:11pt;">As of the date of this report, Delaware Investments<SUP
style="font-size:6pt;font-style:italic;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Minnesota Municipal Income Fund II, Inc. held bonds issued by or on behalf of territories and the states of the US as
follows:</FONT>
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-bottom:0.5pt solid #000000;border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100.0%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:6pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">State / territory
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:4.5pt;padding-right:9pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:22.62%;">Percentage of net assets
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Guam
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:14.10pt;padding-right:9pt;padding-top:2pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">0.66%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Minnesota
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:4.5pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">137.58%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Puerto Rico
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:14.10pt;padding-right:9pt;
padding-top:1.25pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">3.98%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:75.60%;">Total Value of Securities
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:7.49pt;padding-right:9pt;padding-top:2pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">98.07%
</TD></TR></TABLE>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;">&nbsp;
<DIV
style="clear:both;width:13.11%;" type="Block">
<DIV
style="clear:both;color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:202pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;2</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_STSA-TOC-SecurityTypeSectorAllocation-3514_2">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
National Municipal Income Fund</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-bottom:0.5pt solid #000000;border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100.0%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:6pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Security type / sector
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:4.5pt;padding-right:9pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:22.62%;">Percentage of net assets
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:75.60%;">Municipal Bonds*
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.25pt;padding-left:4.5pt;padding-right:9pt;padding-top:2pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">141.57%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Corporate Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">16.28%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Education Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">19.45%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Electric Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">4.72%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Healthcare Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">33.26%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Lease Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">7.77%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Local General Obligation Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">1.84%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Pre-Refunded/Escrowed to Maturity Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:16.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">7.21%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Special Tax Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">13.97%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">State General Obligation Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">12.21%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Transportation Revenue Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.50pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">22.78%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Water &amp; Sewer Revenue Bonds
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:16.30pt;padding-right:9pt;
padding-top:1.25pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">2.08%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Short-Term Investments
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:14.90pt;padding-right:9pt;padding-top:2pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">1.85%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Total Value of Securities
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:4.5pt;padding-right:9pt;padding-top:2pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">143.42%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:2pt;
text-align:left;text-decoration:none;text-indent:-10pt;text-transform:none;vertical-align:bottom;width:75.60%;">Liabilities Net of Receivables and Other Assets
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:6.74pt;padding-right:9pt;padding-top:2pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">(43.42%)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:75.60%;">Total Net Assets
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:4.5pt;padding-right:9pt;padding-top:2pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">100.00%
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:95.38%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;" colspan="2">*<FONT
style="font-size:8pt;font-style:italic;line-height:11pt;">As of the date of this report, Delaware Investments<SUP
style="font-size:6pt;font-style:italic;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> National Municipal Income Fund held bonds issued by or on behalf of territories and the states of the US as
follows:</FONT>
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-bottom:0.5pt solid #000000;border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100.0%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:6pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">State / territory
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:4.5pt;padding-right:9pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:22.62%;">Percentage of net assets
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Alabama
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:2pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">0.79%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Arizona
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">7.16%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">California
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:6.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">18.96%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Colorado
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">3.93%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">District of Columbia
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">1.82%
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:left;">
<TABLE
style="border-bottom:0.5pt solid #000000;border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100.0%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:6pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">State / territory
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:4.5pt;padding-right:9pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:22.62%;">Percentage of net assets
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Florida
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:2pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">6.44%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Georgia
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">2.73%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Guam
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">0.85%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Idaho
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">2.54%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Illinois
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:6.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">14.89%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Indiana
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">0.92%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Kansas
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">0.31%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Louisiana
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">3.89%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Maine
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">0.47%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Maryland
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">1.27%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Massachusetts
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">0.85%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Michigan
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">1.76%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Mississippi
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">1.85%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Missouri
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">2.66%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Montana
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">1.09%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Nebraska
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">0.47%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">New Jersey
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">9.01%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">New York
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:6.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">15.45%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Ohio
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">4.96%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Oregon
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">0.86%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Pennsylvania
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:6.30pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">15.26%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:75.60%;">Puerto Rico
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">8.12%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Texas
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">8.06%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Utah
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">1.14%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Virginia
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">1.22%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Washington
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">0.47%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Wisconsin
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:11.10pt;padding-right:9pt;padding-top:1.25pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">2.83%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.25pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:75.60%;">Wyoming
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2.5pt;padding-left:11.10pt;padding-right:9pt;
padding-top:1.25pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">0.39%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:75.60%;">Total Value of Securities
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2.5pt;padding-left:4.5pt;padding-right:9pt;padding-top:2pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:22.62%;">97.21%
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="clear:both;">
<DIV
style="clear:both;width:13.11%;" type="Block">
<DIV
style="clear:both;color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:237pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;3</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_1">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Schedules of investments</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Colorado Municipal Income Fund, Inc.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:Normal;line-height:14pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">September 30, 2020 (Unaudited)</DIV>
</DIV>
<DIV
style="margin-top:1pt;">
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds &#8212; 136.11%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Corporate Revenue Bonds &#8212; 6.73%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Denver City &amp; County
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(United Airlines Project)<BR>
5.00% 10/1/32(AMT)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">215,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">216,212</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Public Authority for<BR>
Colorado Energy Natural Gas Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">6.50% 11/15/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">3,564,405
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Public Authority for<BR>
Colorado Energy Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">6.25% 11/15/28
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">865,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">1,107,702
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">4,888,319
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Education Revenue Bonds &#8212; 17.59%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Board of Trustees For<BR>
Colorado Mesa University Enterprise Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B 5.00% 5/15/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">923,888
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Colorado Educational &amp;<BR>
Cultural Facilities Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">144A&#8194;5.00% 7/1/36 #
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">511,190
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.125% 11/1/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">765,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">815,750
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">144A&#8194;5.25% 7/1/46 #
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">510,900
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Alexander Dawson School-Nevada Project)<BR>
5.00% 5/15/29
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">760,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">909,180
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Charter School - Atlas Preparatory School)<BR>
144A 5.25% 4/1/45#
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">700,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">712,040
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Charter School - Community Leadership Academy)<BR>
7.45% 8/1/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">549,915
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Charter School - Peak to Peak Charter)<BR>
5.00% 8/15/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,115,330
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Improvement - Charter School - University Lab School Building)<BR>
5.00% 12/15/45
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">537,950
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Education Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Colorado Educational &amp;<BR>
Cultural Facilities Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Johnson &amp; Wales University)<BR>
Series A 5.25% 4/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">900,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">957,357</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Liberty Charter School)<BR>
Series A 5.00% 1/15/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,077,360
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Littleton Charter School Project)<BR>
4.375% 1/15/36(AGC)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,200,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,201,392
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Loveland Classical Schools)<BR>
144A 5.00% 7/1/36#
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">625,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">639,994
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Science Technology Engineering and Math (Stem) School Project)<BR>
5.00% 11/1/54
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">700,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">742,014
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Skyview Charter School)<BR>
144A 5.50% 7/1/49#
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">768,525
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Vail Mountain School Project)<BR>
4.00% 5/1/46
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">25,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">24,356
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Windsor Charter Academy Project)<BR>
144A 5.00% 9/1/46#
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">500,685
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Colorado School of Mines
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B 5.00% 12/1/42
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">270,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">290,369
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">12,788,195
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Electric Revenue Bonds &#8212; 3.82%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">City of Fort Collins Electric<BR>
Utility Enterprise Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.00% 12/1/42
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">618,915
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">City of Loveland Colorado<BR>
Electric &amp; Communications Enterprise Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.00% 12/1/44
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,060,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,308,337
</TD></TR></TABLE>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;">&nbsp;
<DIV
style="clear:both;padding-top:86pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;4</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_2">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Electric Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Puerto Rico Electric Power<BR>
Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.05% 7/1/42 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">75,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:34.81pt;">53,437</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series AAA&#8194;5.25% 7/1/25 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">40,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">28,500
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series CCC&#8194;5.25% 7/1/27 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">335,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">238,687
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series WW&#8194;5.00% 7/1/28 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">325,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">231,562
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series XX&#8194;4.75% 7/1/26 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">45,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">31,838
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series XX&#8194;5.25% 7/1/40 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">125,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">89,062
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series XX&#8194;5.75% 7/1/36 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">155,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">111,600
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series ZZ&#8194;4.75% 7/1/27 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">35,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">24,763
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series ZZ&#8194;5.25% 7/1/24 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">55,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">39,188
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">2,775,889
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Healthcare Revenue Bonds &#8212; 36.12%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Colorado Health Facilities<BR>
Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(AdventHealth Obligated Group)<BR>
Series A 4.00% 11/15/43
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,143,110
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Adventist Health System/Sunbelt Obligated Group)<BR>
Series A 5.00% 11/15/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,194,610
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Bethesda Project)<BR>
Series A1  5.00% 9/15/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">804,345
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Boulder Community Health Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.00% 10/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">285,530
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.00% 10/1/39
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">284,328
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.00% 10/1/40
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">280,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">317,156
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Cappella of Grand Junction Project)<BR>
144A 5.00% 12/1/54#
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">515,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">502,604
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Christian Living Community Project)<BR>
6.375% 1/1/41
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">615,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">632,927
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(CommonSpirit Health)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-1&#8194;4.00% 8/1/39
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">550,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">620,252
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-2&#8194;4.00% 8/1/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,641,645
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-2&#8194;5.00% 8/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,829,175
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-2&#8194;5.00% 8/1/39
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,823,700
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-2&#8194;5.00% 8/1/44
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,795,515
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Healthcare Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Colorado Health Facilities<BR>
Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Covenant Retirement Communities Inc.)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 12/1/35
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:22.82pt;">1,117,320</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.75% 12/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,105,310
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Frasier Meadows Retirement Community Project)<BR>
Series B 5.00% 5/15/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">340,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">357,173
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Healthcare Facilities - American Baptist)<BR>
8.00% 8/1/43
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">531,270
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Mental Health Center of Denver Project)<BR>
Series A 5.75% 2/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,589,160
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(National Jewish Health Project)<BR>
5.00% 1/1/27
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">521,050
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Sanford Health)<BR>
Series A 5.00% 11/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,825,050
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(SCL Health System)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 1/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">575,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">669,714
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 1/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,950,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,263,228
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 1/1/39
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">465,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">537,907
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Sunny Vista Living Center)<BR>
Series A 144A 6.25% 12/1/50#
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">505,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">507,374
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Vail Valley Medical Center Project)<BR>
5.00% 1/15/35
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,449,038
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Valley View Hospital Association Project)<BR>
Series A 4.00% 5/15/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">330,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">369,742
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Denver Health &amp; Hospital<BR>
Authority Health Care Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 4.00% 12/1/40
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">539,785
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">26,258,018
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="clear:both;">
<DIV
style="clear:both;padding-top:73pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;5</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_3">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Schedules of investments</DIV>
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Colorado Municipal Income Fund, Inc.&nbsp;</DIV>
</DIV>
<DIV
style="margin-top:19pt;">
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Lease Revenue Bonds &#8212; 4.08%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Denver Health &amp; Hospital<BR>
Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(550 ACOMA, Inc.)<BR>
4.00% 12/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">538,960</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Pueblo County Certificates<BR>
of Participation
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(County Judicial Complex Project)<BR>
5.00% 9/15/42(AGM)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,346,425
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">State of Colorado<BR>
Department of Transportation<BR>
Certificates of Participation
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 6/15/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">340,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">414,538
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 6/15/36
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">545,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">662,459
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">2,962,382
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Local General Obligation Bonds &#8212; 14.81%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Adams &amp; Weld Counties<BR>
School District No 27J Brighton
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">4.00% 12/1/30
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">700,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">800,016
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Arapahoe County School<BR>
District No. 6 Littleton
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.50% 12/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">650,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">847,905
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Beacon Point Metropolitan<BR>
District
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.00% 12/1/30(AGM)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">600,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">716,490
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Boulder Valley School<BR>
District No RE-2 Boulder
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 4.00% 12/1/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">580,845
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Denver International<BR>
Business Center<BR>
Metropolitan District No. 1
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.00% 12/1/30
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">650,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">655,129
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Eaton Area Park &amp;<BR>
Recreation District
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.25% 12/1/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">190,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">195,063
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.50% 12/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">245,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">252,583
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Grand River Hospital<BR>
District
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.25% 12/1/37(AGM)
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">675,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">796,129
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Local General Obligation Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Jefferson County School<BR>
District No. R-1
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.25% 12/15/24
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">905,977</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Sierra Ridge Metropolitan<BR>
District No. 2
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.50% 12/1/46
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">516,550
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Weld County School<BR>
District No. RE-1
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.00% 12/15/30(AGM)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">622,325
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Weld County School<BR>
District No. RE-2 Eaton
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series 2 5.00% 12/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,592,625
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Weld County School<BR>
District No. RE-3J
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.00% 12/15/34(BAM)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,231,770
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Weld County School<BR>
District No. RE-8
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 12/1/31
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">510,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">634,501
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 12/1/32
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">340,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">420,934
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">10,768,842
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Pre-Refunded/Escrowed to Maturity Bonds &#8212; 15.14%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Colorado Health Facilities<BR>
Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Catholic Health Initiatives)<BR>
Series A 5.00% 2/1/41-21&#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,400,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,438,112
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Evangelical Lutheran Good Samaritan Society)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 6/1/28-23 &#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,408,612
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.50% 6/1/33-23 &#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,280,320
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.625% 6/1/43-23 &#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,143,480
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Colorado School of Mines
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Series B 5.00% 12/1/42-22&#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,115,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,228,708
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Regional Transportation<BR>
District Sales Tax Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(FasTracks Project)<BR>
Series A 5.00% 11/1/38-20&#167;
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,500,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">2,509,900
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">11,009,132
</TD></TR></TABLE>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;">&nbsp;
<DIV
style="clear:both;padding-top:81pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">6&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_4">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Special Tax Revenue Bonds &#8212; 23.02%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Central Platte Valley<BR>
Metropolitan District
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.00% 12/1/43
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">375,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">389,378</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Commerce City
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.00% 8/1/44(AGM)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,144,050
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Fountain Urban Renewal<BR>
Authority Tax Increment Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Academy Highlands Project)<BR>
Series A 5.50% 11/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">655,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">671,571
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Guam Government<BR>
Business Privilege Tax Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.125% 1/1/42
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">435,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">445,414
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.25% 1/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">565,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">581,317
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Lincoln Park Metropolitan<BR>
District
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.00% 12/1/46(AGM)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">600,135
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Prairie Center Metropolitan<BR>
District No. 3
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Series A 144A 5.00% 12/15/41#
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">511,735
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Puerto Rico Sales Tax<BR>
Financing Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:48.02%;">(Restructured)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-1&#8194;4.55% 7/1/40
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,036,270
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-1&#8194;4.75% 7/1/53
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,290,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,387,348
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-1&#8194;5.00% 7/1/58
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,110,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,176,145
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-2&#8194;4.784% 7/1/58
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,568,025
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Regional Transportation<BR>
District Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Denver Transit Partners)<BR>
6.00% 1/15/41
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,175,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,179,306
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Regional Transportation<BR>
District Sales Tax Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(FasTracks Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 11/1/30
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">330,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">406,837
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 11/1/31
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">755,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">923,312
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Solaris Metropolitan<BR>
District No. 3
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Limited Tax Convertible)<BR>
Series A 5.00% 12/1/46
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">513,375
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Special Tax Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Southlands Metropolitan<BR>
District No. 1
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A1&#8194;5.00% 12/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">200,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">214,288</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A1&#8194;5.00% 12/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">300,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">316,407
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Sterling Ranch Community<BR>
Authority Board
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.75% 12/1/45
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">525,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">541,842
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Tallyn's Reach<BR>
Metropolitan District No. 3
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Limited Tax Convertible)<BR>
5.125% 11/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">295,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">301,148
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Thornton Development<BR>
Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(East 144th Avenue &amp; I-25 Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 12/1/35
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">265,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">310,760
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 12/1/36
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">440,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">515,588
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">16,734,251
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">State General Obligation Bonds &#8212; 1.85%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Commonwealth of Puerto<BR>
Rico
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(General Obligation Bonds)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 7/1/41 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">305,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">192,913
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.375% 7/1/33 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">305,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">216,169
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;8.00% 7/1/35 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">535,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">341,062
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.75% 7/1/38 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">440,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">310,200
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series C&#8194;6.00% 7/1/39 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">400,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">283,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">1,343,344
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Transportation Revenue Bonds &#8212; 9.96%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Colorado High Performance<BR>
Transportation Enterprise Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Senior U.S. 36 &amp; I-25 Managed Lanes)<BR>
5.75% 1/1/44(AMT)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,110,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,187,001
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">C-470 Express Lanes<BR>
5.00% 12/31/56
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,076,210
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Denver City &amp; County<BR>
Airport System Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 12/1/29 (AMT)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">270,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">338,161
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 11/15/30 (AMT)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">917,580
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 12/1/48 (AMT)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,173,770
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 11/15/37
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,138,760
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="clear:both;">
<DIV
style="clear:both;padding-top:65pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;7</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_5">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Schedules of investments</DIV>
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Colorado Municipal Income Fund, Inc.&nbsp;</DIV>
</DIV>
<DIV
style="margin-top:19pt;">
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Transportation Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">E-470 Public Highway<BR>
Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.00% 9/1/34
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">310,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">411,085</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">7,242,567
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Water &amp; Sewer Revenue Bonds &#8212; 2.99%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Arapahoe County Water &amp;<BR>
Wastewater Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 4.00% 12/1/39
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,500,025
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Dominion Water &amp;<BR>
Sanitation District, Colorado
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">6.00% 12/1/46
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">245,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">255,640
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Guam Government<BR>
Waterworks Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.00% 7/1/40
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">360,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">416,211
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">2,171,876
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:20pt;padding-right:1pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:72.62%;" colspan="3">Total Municipal Bonds<BR>
<FONT
style="font-weight:Normal;">(cost $93,325,756)</FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:20.21pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">98,942,815
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Short-Term Investments &#8212; 3.13%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Variable Rate Demand Notes &#8212; 3.13%&#164;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Colorado Educational &amp;<BR>
Cultural Facilities Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series F-2&#8194;0.13% 7/1/41
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:29pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">500,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Denver City &amp; County
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A1&#8194; 0.13% 12/1/29 (SPA - JPMorgan Chase Bank, N.A.)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">275,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:29pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">275,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A3&#8194; 0.13% 12/1/31 (SPA - JPMorgan Chase Bank, N.A.)
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,500,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:21.80pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">1,500,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:20pt;padding-right:1pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:72.62%;" colspan="3">Total Short-Term Investments<BR>
<FONT
style="font-weight:Normal;">(cost $2,275,000)</FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:16.60pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">2,275,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:20pt;padding-right:1pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Total Value of Securities&#8212;139.24%<BR>
<FONT
style="font-weight:Normal;">(cost $95,600,756)</FONT>
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:3pt;padding-top:1.62pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">$101,217,815
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;white-space:nowrap;width:3.10%;">&#176;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:98.10%;">Principal amount shown is stated in USD unless noted that the security is denominated in another currency.
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-right:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;white-space:nowrap;width:3.10%;">#
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;
width:98.10%;">Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At September 30, 2020, the aggregate value of Rule 144A securities was $5,165,047, which represents 7.11% of
the Fund net assets. See Note 0 in &#8220;Notes to financial statements.&#8221;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;white-space:nowrap;width:3.10%;">&#8225;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:98.10%;">Non-income producing security. Security is currently in default.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;white-space:nowrap;width:3.10%;">&#167;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:98.10%;">Pre-refunded bonds. Municipal bonds that are generally backed or secured by US Treasury bonds. For pre-refunded bonds, the stated maturity is followed by the year in which the bond
will be pre-refunded. See Note 8 in &#8220;Notes to financial statements.&#8221;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;white-space:nowrap;width:3.10%;">&#164;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:98.10%;">Tax-exempt obligations that contain a floating or variable interest rate adjustment formula and an unconditional right of demand to receive payment of the unpaid
principal balance plus accrued interest upon a short notice period (generally up to 30 days) prior to specified dates either from the issuer or by drawing on a bank letter of credit, a guarantee, or insurance issued
with respect to such instrument. Each rate shown is as of September 30, 2020.
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-left:0pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;
width:100%;">Summary of abbreviations:
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">AGC &#8211; Insured by Assured Guaranty Corporation
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">AGM &#8211; Insured by Assured Guaranty Municipal Corporation
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">AMT &#8211; Subject to Alternative Minimum Tax
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">BAM &#8211; Insured by Build America Mutual Assurance
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">N.A. &#8211; National Association
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:100%;">SPA &#8211; Stand-by Purchase Agreement
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes, which are
an integral part of the financial statements.</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;">&nbsp;
<DIV
style="clear:both;padding-top:70pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:319pt;text-align:left;text-decoration:none;text-transform:none;">8&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_6">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-top:33pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Minnesota Municipal Income Fund II, Inc.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:Normal;line-height:14pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">September 30, 2020 (Unaudited)</DIV>
</DIV>
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds &#8212; 140.75%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Corporate Revenue Bonds &#8212; 1.84%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minneapolis Community<BR>
Planning &amp; Economic Development Department
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Limited Tax Supported Common Bond Fund)<BR>
Series A 6.25% 12/1/30
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:22.82pt;">1,009,650</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">St. Paul Port Authority Solid<BR>
Waste Disposal Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Gerdau St. Paul Steel Mill Project)<BR>
Series 7 144A 4.50% 10/1/37(AMT)#
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,100,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">2,117,535
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">3,127,185
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Education Revenue Bonds &#8212; 22.40%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Bethel Charter School<BR>
Lease Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Spectrum High School Project)<BR>
Series A 4.375% 7/1/52
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,100,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,139,270
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Brooklyn Park Charter<BR>
School Lease Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Prairie Seeds Academy Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 3/1/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">990,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,013,958
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 3/1/39
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">170,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">172,547
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Cologne Charter School<BR>
Lease Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Cologne Academy Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 7/1/29
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">270,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">292,380
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 7/1/45
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">445,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">466,316
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Deephaven Charter School
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Eagle Ridge Academy Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.25% 7/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">590,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">644,752
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.25% 7/1/40
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">543,640
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Education Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Duluth Housing &amp;<BR>
Redevelopment Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Duluth Public Schools Academy Project)<BR>
Series A 5.00% 11/1/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,200,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:22.82pt;">1,302,048</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Forest Lake Minnesota<BR>
Charter School Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Lake International Language Academy)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.375% 8/1/50
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">915,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,012,164
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.75% 8/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">705,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">748,682
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Hugo Charter School Lease<BR>
Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Noble Academy Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 7/1/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">255,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">270,983
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 7/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">775,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">812,952
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minneapolis Charter School<BR>
Lease Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Hiawatha Academies Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 7/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">787,335
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 7/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">900,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">934,038
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minneapolis Student<BR>
Housing Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Riverton Community Housing Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.25% 8/1/39
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">205,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">207,179
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.50% 8/1/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">990,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,005,612
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minnesota Higher<BR>
Education Facilities Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Bethel University)<BR>
5.00% 5/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,329,737
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Carleton College)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.00% 3/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">485,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">556,591
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 3/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">905,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,079,973
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(College of St. Benedict)<BR>
4.00% 3/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">410,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">428,138
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Gustavus Adolphus College)<BR>
5.00% 10/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,600,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,914,470
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Macalester College)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.00% 3/1/42
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">900,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,007,586
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.00% 3/1/48
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">600,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">667,266
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="clear:both;">
<DIV
style="clear:both;padding-top:66pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;9</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_7">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Schedules of investments</DIV>
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Minnesota Municipal Income Fund II, Inc.&nbsp;</DIV>
</DIV>
<DIV
style="margin-top:19pt;">
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Education Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minnesota Higher<BR>
Education Facilities Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(St. Catherine University)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 10/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">920,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">968,705</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 10/1/45
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">785,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">882,835
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(St. Johns University)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series 8-I&#8194;5.00% 10/1/31
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">235,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">272,278
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series 8-I&#8194;5.00% 10/1/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">35,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">40,187
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(St. Olaf College) Series 8-N<BR>
4.00% 10/1/35
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">590,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">653,997
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Trustees Of The Hamline University Of Minnesota)<BR>
Series B 5.00% 10/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,055,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,116,749
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(University of St. Thomas)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.00% 10/1/32
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">289,808
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.00% 10/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">645,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">709,674
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 10/1/40
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">904,110
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series 7-U&#8194;5.00% 4/1/22
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">795,285
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 10/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">553,950
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Otsego Charter School
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Kaleidoscope Charter School)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 9/1/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">230,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">236,652
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 9/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">400,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">405,800
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Rice County Educational<BR>
Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Shattuck-St. Mary's School)<BR>
Series A 144A 5.00% 8/1/22#
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,278,500
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">St. Cloud Charter School<BR>
Lease Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Stride Academy Project)<BR>
Series A 5.00% 4/1/46
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">375,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">255,000
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Education Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">St. Paul Housing &amp;<BR>
Redevelopment Authority Charter School Lease Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Academia Cesar Chavez School Project)<BR>
Series A 5.25% 7/1/50
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">825,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">822,467</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Great River School Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 144A&#8194;4.75% 7/1/29 #
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">200,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">211,762
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 144A&#8194;5.50% 7/1/38 #
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">240,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">260,645
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Nova Classical Academy Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.125% 9/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">776,640
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;6.375% 9/1/31
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">779,895
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Twin Cities Academy Project)<BR>
Series A 5.30% 7/1/45
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">630,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">667,850
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">University of Minnesota
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 9/1/40
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,240,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,514,077
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 9/1/42
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,429,900
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 4/1/44
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,500,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">1,887,690
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">38,052,073
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Electric Revenue Bonds &#8212; 15.36%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Central Minnesota<BR>
Municipal Power Agency Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Brookings Southeast Twin Cities Transportation)<BR>
5.00% 1/1/32
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,130,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,194,851
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Brookings Twin Cities Transmission Project)<BR>
5.00% 1/1/42
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,054,160
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Chaska Electric Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.00% 10/1/28
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">445,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">536,434
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minnesota Municipal<BR>
Power Agency Electric Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 10/1/25
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">588,825
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 10/1/26
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">587,960
</TD></TR></TABLE>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;">&nbsp;
<DIV
style="clear:both;padding-top:68pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">10&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
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<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_8">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Electric Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minnesota Municipal<BR>
Power Agency Electric Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 10/1/27
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">320,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">375,184</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 10/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,755,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,109,387
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Northern Municipal Power<BR>
Agency
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/26
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">100,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">109,836
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/30
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">340,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">371,596
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Puerto Rico Electric Power<BR>
Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.05% 7/1/42 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">175,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">124,687
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series AAA&#8194;5.25% 7/1/25 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">100,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">71,250
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series CCC&#8194;5.25% 7/1/27 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">800,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">570,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series WW&#8194;5.00% 7/1/28 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">770,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">548,625
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series XX&#8194;4.75% 7/1/26 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">105,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">74,288
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series XX&#8194;5.25% 7/1/40 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">300,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">213,750
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series XX&#8194;5.75% 7/1/36 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">375,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">270,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series ZZ&#8194;4.75% 7/1/27 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">85,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">60,138
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series ZZ&#8194;5.25% 7/1/24 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">140,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">99,750
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Rochester Electric Utility<BR>
Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 12/1/42
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">605,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">727,742
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 12/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">985,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,177,794
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 12/1/30
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,300,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,479,166
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 12/1/43
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,122,060
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Southern Minnesota<BR>
Municipal Power Agency Supply Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/41
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">240,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">284,350
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,650,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,983,894
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">St. Paul Housing &amp;<BR>
Redevelopment Authority Charter School Lease Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 10/1/33
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">285,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">323,786
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;4.00% 10/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">800,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">895,648
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Western Minnesota<BR>
Municipal Power Agency Supply Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/25
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">3,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">3,313,590
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/26
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,103,810
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/49
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">3,860,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">4,729,619
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">26,102,180
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Healthcare Revenue Bonds &#8212; 38.09%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Anoka Health Care<BR>
Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.375% 11/1/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">610,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">644,325</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Apple Valley Senior<BR>
Housing Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(PHS Senior Housing, Inc. Orchard Path Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.50% 9/1/53
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,160,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,166,055
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 9/1/58
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,605,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,644,949
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Apple Valley Senior Living<BR>
Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Senior Living LLC Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 1/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">480,240
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series D&#8194;7.00% 1/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">720,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">552,348
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series D&#8194;7.25% 1/1/52
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">726,300
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Bethel Housing &amp; Health<BR>
Care Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Benedictine Health System- St. Peter Communities Project)<BR>
Series A 5.50% 12/1/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">480,600
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Center City Health Care<BR>
Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Hazelden Betty Ford Foundation Project)<BR>
5.00% 11/1/27
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">564,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">City of Bethel
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(The Lodge at Lakes at Stillwater Project)<BR>
5.25% 6/1/58
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,775,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,799,761
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">City of Center City,<BR>
Minnesota Healthcare Facilities Revenue Refunding
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Hazelden Betty Ford Foundation Project)<BR>
4.00% 11/1/41
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">200,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">220,012
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="clear:both;">
<DIV
style="clear:both;padding-top:91pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;11</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_9">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Schedules of investments</DIV>
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Minnesota Municipal Income Fund II, Inc.&nbsp;</DIV>
</DIV>
<DIV
style="margin-top:19pt;">
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Healthcare Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">City of Crookston,<BR>
Minnesota Health Care Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Riverview Health Project)<BR>
5.00% 5/1/51
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,390,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:22.82pt;">1,342,295</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Cloquet Housing Facilities<BR>
Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(HADC Cloquet Project)<BR>
Series A 5.00% 8/1/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">491,845
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Dakota County Community<BR>
Development Agency Senior Housing Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Walker Highview Hills Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 144A&#8194;5.00% 8/1/46 #
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">370,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">381,533
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 144A&#8194;5.00% 8/1/51 #
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">755,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">777,174
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Deephaven Housing &amp;<BR>
Healthcare Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(St. Therese Senior Living Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 4/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">280,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">271,628
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 4/1/40
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">270,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">258,900
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Duluth Economic<BR>
Development Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Essentia Health Obligated Group)<BR>
Series A 5.00% 2/15/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,810,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,092,939
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(St. Luke's Hospital Authority Obligation Group)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.75% 6/15/32
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,111,920
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;6.00% 6/15/39
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,055,170
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:48.02%;">Hayward
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(American Baptist Homes Midwest)<BR>
5.75% 2/1/44
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">483,755
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Healthcare Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Hayward Health Care<BR>
Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(St. John's Lutheran Home of Albert Lea)<BR>
5.375% 10/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">260,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">242,281</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Maple Grove Health Care<BR>
Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Maple Grove Hospital Corporation)<BR>
4.00% 5/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,067,210
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(North Memorial Health Care)<BR>
5.00% 9/1/30
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">865,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">979,690
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Maple Plain Senior Housing<BR>
&amp; Health Care Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Haven Homes Project)<BR>
5.00% 7/1/54
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,536,105
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minneapolis Health Care<BR>
System Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Fairview Health Services)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 11/15/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,855,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">3,176,673
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 11/15/33
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">578,510
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 11/15/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">577,480
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 11/15/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,392,760
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minneapolis Senior<BR>
Housing &amp; Healthcare Revenue<BR>
(Ecumen Mill City Quarter)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.25% 11/1/45
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">850,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">851,785
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.375% 11/1/50
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">200,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">200,778
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Ecumen-Abiitan Mill City Project)<BR>
5.00% 11/1/35
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">220,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">220,889
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minneapolis<FONT
style="padding-left:2.5pt;"></FONT>&#8211;<FONT
style="padding-left:2.5pt;"></FONT>St. Paul<BR>
Housing &amp; Redevelopment Authority Health Care Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Allina Health System)<BR>
Series A 5.00% 11/15/29
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">585,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">723,768
</TD></TR></TABLE>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;">&nbsp;
<DIV
style="clear:both;padding-top:93pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">12&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_10">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Healthcare Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Rochester Health Care &amp;<BR>
Housing Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(The Homestead at Rochester Project)<BR>
Series A 6.875% 12/1/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,220,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:22.82pt;">1,310,792</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Rochester Health Care<BR>
Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Mayo Clinic)<BR>
4.00% 11/15/41
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">4,860,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">5,008,230
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Sartell Health Care<BR>
Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Country Manor Campus Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.25% 9/1/30
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,013,020
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.30% 9/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">600,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">607,392
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Shakopee Health Care<BR>
Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(St. Francis Regional Medical Center)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.00% 9/1/31
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">205,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">219,393
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 9/1/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">165,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">181,479
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">St. Cloud Health Care<BR>
Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Centracare Health System Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.00% 5/1/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,585,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,758,463
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 5/1/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">3,150,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">3,797,136
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 5/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,295,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,416,652
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 5/1/46
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">4,800,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">5,509,056
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 5/1/24
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,400,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,607,648
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Unrefunded - Centracare Health System Project)<BR>
5.125% 5/1/30
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">95,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">95,291
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">St. Paul Housing &amp;<BR>
Redevelopment Authority Health Care Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Fairview Health Services)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 11/15/43
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">905,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,002,043
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 11/15/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">680,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">800,034
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Health Partners Obligation Group Project)
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Healthcare Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">St. Paul Housing &amp;<BR>
Redevelopment Authority Health Care Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 7/1/29
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,000,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:22.82pt;">2,327,420</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 7/1/32
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,100,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,266,001
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">St. Paul Housing &amp;<BR>
Redevelopment Authority Housing &amp; Health Care Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Senior Episcopal Homes Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.125% 5/1/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,200,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,117,164
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.75% 11/1/31
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">740,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">740,207
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Wayzata Senior Housing<BR>
Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Folkestone Senior Living Community)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;3.75% 8/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">489,580
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.00% 8/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">250,505
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.00% 8/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">350,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">348,919
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 8/1/54
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">400,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">417,424
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Winona Health Care<BR>
Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Winona Health Obligation)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.65% 7/1/26
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">465,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">475,844
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.75% 7/1/27
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">785,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">803,706
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 7/1/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">764,835
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Woodbury Housing &amp;<BR>
Redevelopment Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(St. Therese of Woodbury)<BR>
5.125% 12/1/44
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,250,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">1,290,300
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">64,712,212
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Housing Revenue Bonds &#8212; 1.67%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minnesota Housing<BR>
Finance Agency
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Non Ace - State Appropriated Housing)<BR>
5.00% 8/1/33
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,390,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,598,695
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="clear:both;">
<DIV
style="clear:both;padding-top:63pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;13</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_11">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Schedules of investments</DIV>
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Minnesota Municipal Income Fund II, Inc.&nbsp;</DIV>
</DIV>
<DIV
style="margin-top:19pt;">
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Housing Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minnesota State Housing<BR>
Finance Agency
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Homeownership (Mortgage-Backed Securities Program)<BR>
4.40% 7/1/32(GNMA) (FNMA)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">645,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">657,816</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Northwest Multi-County<BR>
Housing &amp; Redevelopment Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Pooled Housing Program)<BR>
5.50% 7/1/45
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">560,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">578,267
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">2,834,778
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Lease Revenue Bonds &#8212; 8.96%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minnesota State General<BR>
Fund Revenue Appropriations
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 6/1/32
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">780,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">869,942
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 6/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">5,500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">6,092,515
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 6/1/43
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,929,742
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minnesota State Housing<BR>
Finance Agency
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Non Ace - State Appropriated Housing)<BR>
Series C 5.00% 8/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,143,650
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">University of Minnesota<BR>
Special Purpose Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(State Supported Biomed Science Research)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 8/1/35
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,040,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,043,911
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 8/1/36
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">4,000,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">4,150,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">15,229,760
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Local General Obligation Bonds &#8212; 15.71%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Brainerd Independent<BR>
School District No. 181
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(General Obligation School Building Bonds)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 2/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,717,380
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 2/1/43
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,698,150
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Local General Obligation Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Burnsville-Eagan-Savage<BR>
Independent School District No. 191
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Alternative Facilities)<BR>
Series A 4.00% 2/1/28
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,185,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:22.82pt;">1,337,071</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Duluth Independent School<BR>
District No. 709
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 4.00% 2/1/27
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">600,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">691,038
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Duluth, Minnesota
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Improvement DECC)<BR>
Series A 5.00% 2/1/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">545,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">659,085
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Edina Independent School<BR>
District No. 273
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.00% 2/1/27
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,797,420
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Hennepin County
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 12/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,190,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,480,503
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 12/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,240,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,559,845
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 12/1/41
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,060,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,308,040
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Hopkins Independent<BR>
School District No. 270
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.00% 2/1/28
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,015,340
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Mahtomedi Independent<BR>
School District No. 832
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(School Building)<BR>
Series A 5.00% 2/1/28
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">515,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">616,378
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minneapolis Special School<BR>
District No. 1
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 2/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">190,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">227,282
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 2/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">297,900
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 2/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">260,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">308,823
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;4.00% 2/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">400,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">478,488
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;4.00% 2/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">530,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">631,548
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;4.00% 2/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">550,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">653,279
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Mounds View Independent<BR>
School District No. 621
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(School Building)<BR>
Series A 4.00% 2/1/43
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,264,200
</TD></TR></TABLE>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;">&nbsp;
<DIV
style="clear:both;padding-top:62pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">14&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_12">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Local General Obligation Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">St. Michael-Albertville<BR>
Independent School District No. 885
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(School Building)<BR>
Series A 5.00% 2/1/27
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,300,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:22.82pt;">1,597,193</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">St. Paul Independent<BR>
School District No. 625
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(School Building)<BR>
Series B 5.00% 2/1/26
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,108,340
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">White Bear Lake<BR>
Independent School District No. 624
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 3.00% 2/1/43
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,595,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,777,740
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:48.02%;">Willmar
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Rice Memorial Hospital Project)<BR>
Series A 4.00% 2/1/32
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,440,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">2,459,910
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">26,684,953
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Pre-Refunded/Escrowed to Maturity Bonds &#8212; 15.71%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Dakota-Washington<BR>
Counties Housing &amp; Redevelopment Authority Single Family Residential Mortgage Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(City of Bloomington)<BR>
Series B 8.375% 9/1/21(GNMA) (AMT)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">7,055,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">7,548,709
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Deephaven Charter School
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Eagle Ridge Academy Project)<BR>
Series A 5.50% 7/1/43-23&#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">570,040
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minnesota Higher<BR>
Education Facilities Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(St. Catherine University)<BR>
Series 7-Q 5.00% 10/1/32-22&#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">700,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">766,647
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minnesota State
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(State Trunk Highway)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 10/1/22-21 &#167;
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">5,500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">5,765,705
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Pre-Refunded/Escrowed to Maturity Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minnesota State
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 10/1/29-21 &#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">3,315,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:22.82pt;">3,475,148</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">St. Paul Housing &amp;<BR>
Redevelopment Authority Hospital Facility
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Healtheast Care System Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 11/15/29-25 &#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">395,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">487,659
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 11/15/30-25 &#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">290,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">358,028
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">University of Minnesota
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Series D 5.00% 12/1/36-21&#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,655,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,803,069
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Western Minnesota<BR>
Municipal Power Agency Supply Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/33-24 &#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,155,630
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/40-24 &#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">866,723
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/46-24 &#167;
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,500,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">2,889,075
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">26,686,433
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Special Tax Revenue Bonds &#8212; 3.22%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Guam Government<BR>
Business Privilege Tax Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.25% 1/1/36(Guam)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">150,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">154,332
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minneapolis Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(YMCA Greater Twin Cities Project)<BR>
4.00% 6/1/29
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">165,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">180,606
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Puerto Rico Sales Tax<BR>
Financing Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:48.02%;">(Restructured)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-1&#8194;4.55% 7/1/40
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,295,337
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-1&#8194;4.75% 7/1/53
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,042,510
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-1&#8194;5.00% 7/1/58
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,600,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,695,344
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">St. Paul Sales Tax Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series G 5.00% 11/1/30
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">935,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">1,095,586
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">5,463,715
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">State General Obligation Bonds &#8212; 6.92%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Commonwealth of Puerto<BR>
Rico
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Public Improvement)<BR>
Series B 5.75% 7/1/38&#8225;
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">985,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">694,425
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="clear:both;">
<DIV
style="clear:both;padding-top:64pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;15</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_13">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Schedules of investments</DIV>
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Minnesota Municipal Income Fund II, Inc.&nbsp;</DIV>
</DIV>
<DIV
style="margin-top:19pt;">
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">State General Obligation Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minnesota State
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 8/1/29
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">700,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">851,445</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 8/1/40
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">3,308,800
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series E&#8194;5.00% 10/1/26
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,480,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,881,021
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Various Purposes)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 8/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">634,065
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series F&#8194;5.00% 10/1/22
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">4,000,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">4,386,720
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">11,756,476
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Transportation Revenue Bonds &#8212; 7.66%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minneapolis<FONT
style="padding-left:2.5pt;"></FONT>&#8211;<FONT
style="padding-left:2.5pt;"></FONT>St. Paul<BR>
Metropolitan Airports Commission Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:48.02%;">(Subordinate)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/31
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">410,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">497,469
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/32
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,255,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,515,889
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,400,480
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 1/1/26
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">540,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">567,994
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 1/1/26 (AMT)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">561,160
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 1/1/27
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,190,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,251,237
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 1/1/30
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">524,700
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 1/1/31
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">262,128
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series C&#8194;5.00% 1/1/33
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">2,403,980
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series C&#8194;5.00% 1/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,191,390
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series C&#8194;5.00% 1/1/46
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,245,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,452,454
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">St. Paul Port Authority<BR>
Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Amherst H. Wilder Foundation)<BR>
Series 3 5.00% 12/1/36
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">380,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">380,593
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">13,009,474
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Water &amp; Sewer Revenue Bonds &#8212; 3.21%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Guam Government<BR>
Waterworks Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.00% 7/1/40(Guam)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">840,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">971,157
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Metropolitan Council<BR>
Waste Water Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;4.00% 9/1/27
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,145,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,221,589
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series C&#8194;4.00% 3/1/31
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,355,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,606,746
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series C&#8194;4.00% 3/1/32
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,405,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">1,655,975
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">5,455,467
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:20pt;padding-right:1pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:72.62%;" colspan="3">Total Municipal Bonds<BR>
<FONT
style="font-weight:Normal;">(cost $228,651,191)</FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:15.01pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">239,114,706
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Short-Term Investments &#8212; 1.47%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Variable Rate Demand Notes &#8212; 1.47%&#164;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minneapolis<FONT
style="padding-left:2.5pt;"></FONT>&#8211;<FONT
style="padding-left:2.5pt;"></FONT>St. Paul<BR>
Housing &amp; Redevelopment Authority Health Care Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A &#8194;0.12% 8/15/37 (AGM)<BR>
(SPA &#8211; US Bank N.A.)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">2,000,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:22.82pt;">2,000,000</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Minneapolis<FONT
style="padding-left:2.5pt;"></FONT>&#8211;<FONT
style="padding-left:2.5pt;"></FONT>St. Paul<BR>
Housing &amp; Redevelopment Authority Health Care Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B-2&#8194;0.13% 11/15/35<BR>
(LOC - JPMorgan Chase Bank N.A.)
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">500,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:20pt;padding-right:1pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:72.62%;" colspan="3">Total Short-Term Investments<BR>
<FONT
style="font-weight:Normal;">(cost $2,500,000)</FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:25.41pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">2,500,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:20pt;padding-right:1pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Total Value of Securities&#8212;142.22%<BR>
<FONT
style="font-weight:Normal;">(cost $231,151,191)</FONT>
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:3pt;padding-top:1.62pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:8.81pt;"></FONT>241,614,706
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-right:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;white-space:nowrap;width:3.10%;">&#176;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;
width:98.10%;">Principal amount shown is stated in USD unless noted that the security is denominated in another currency.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;white-space:nowrap;width:3.10%;">#
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:98.10%;">Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At September 30, 2020, the aggregate value of Rule 144A securities was $5,027,149, which
represents 2.96% of the Fund net assets. See Note 0 in &#8220;Notes to financial statements.&#8221;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;white-space:nowrap;width:3.10%;">&#8225;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:98.10%;">Non-income producing security. Security is currently in default.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;white-space:nowrap;width:3.10%;">&#167;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:98.10%;">Pre-refunded bonds. Municipal bonds that are generally backed or secured by US Treasury bonds. For pre-refunded bonds, the stated maturity is followed by the year in which the bond
will be pre-refunded. See Note 8 in &#8220;Notes to financial statements.&#8221;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;white-space:nowrap;width:3.10%;">&#164;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:98.10%;">Tax-exempt obligations that contain a floating or variable interest rate adjustment formula and an unconditional right of demand to receive payment of the unpaid
principal balance plus accrued interest upon a short notice period (generally up to 30 days) prior to specified dates either from the issuer or by drawing on a bank letter of credit, a guarantee, or insurance issued
with respect to such instrument. Each rate shown is as of September 30, 2020.
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-left:0pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;
width:100%;">Summary of abbreviations:
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">AGM &#8211; Insured by Assured Guaranty Municipal Corporation
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">AMT &#8211; Subject to Alternative Minimum Tax
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:100%;">FNMA &#8211; Federal National Mortgage Association
</TD></TR></TABLE>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;">&nbsp;
<DIV
style="clear:both;padding-top:61pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">16&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_14">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:48%;" type="Block">
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;
width:100%;">GNMA &#8211; Government National Mortgage Association
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">LLC &#8211; Limited Liability Corporation
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">LOC &#8211; Letter of Credit
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">N.A. &#8211; National Association
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:100%;">SPA &#8211; Stand-by Purchase Agreement
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes, which are
an integral part of the financial statements.</DIV>
</DIV>
<DIV
style="margin-top:542pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:537pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;17</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_15">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Schedules of investments</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> National Municipal Income Fund</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:Normal;line-height:14pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">September 30, 2020 (Unaudited)</DIV>
</DIV>
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds &#8212; 141.57%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Corporate Revenue Bonds &#8212; 16.28%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Arizona Industrial<BR>
Development Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Legacy Cares, Inc. Project)<BR>
Series A 144A 7.75% 7/1/50#
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">725,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">731,271</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Buckeye Tobacco<BR>
Settlement Financing Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:48.02%;">(Senior)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-2&#8194;3.00% 6/1/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">972,410
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-2&#8194;4.00% 6/1/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,093,860
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Central Plains Energy<BR>
Project Revenue, Nebraska
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Project No. 3)<BR>
Series A 5.00% 9/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">225,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">304,124
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Commonwealth Financing<BR>
Authority Revenue, Pennsylvania
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Tobacco Master Settlement Payment)<BR>
4.00% 6/1/39(AGM)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,015,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,152,370
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Florida Development<BR>
Finance Surface Transportation Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Virgin Trains USA Passenger Rail Project)<BR>
Series A 144A 6.50% 1/1/49(AMT)#, &#8226;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">475,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">411,640
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Golden State Tobacco<BR>
Securitization, California
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Series A-1  5.00% 6/1/47
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">257,763
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Corporate Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Louisiana Local<BR>
Government Environmental Facilities &amp; Community Development Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Westlake Chemical)<BR>
Series A-1  6.50% 11/1/35
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">255,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">255,867</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">M-S-R Energy Authority,<BR>
California Gas
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;6.50% 11/1/39
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">395,577
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series C&#8194;7.00% 11/1/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,547,820
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New York Liberty<BR>
Development Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Bank of America Tower at One Bryant Park Project)<BR>
2.80% 9/15/69
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">240,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">232,207
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New York Transportation<BR>
Development
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Delta Air Lines, Inc. - LaGuardia Airport Terminals C&amp;D Redevelopment Project)<BR>
4.00% 1/1/36(AMT)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">746,033
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Shoals, Indiana
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(National Gypsum Project)<BR>
7.25% 11/1/43(AMT)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">310,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">327,317
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Suffolk County, New York<BR>
Tobacco Asset Securitization
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B 5.00% 6/1/32
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">775,125
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Tobacco Settlement<BR>
Financing Corporation, Louisiana
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Asset-Backed Note<BR>
Series A 5.25% 5/15/35
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">460,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">500,296
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Tobacco Settlement<BR>
Financing Corporation, New Jersey
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 6/1/46
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">130,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">151,353
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="clear:both;">
<DIV
style="clear:both;padding-top:79pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;18</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_16">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Corporate Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Tobacco Settlement<BR>
Financing Corporation, New Jersey
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Subordinate Series B&#8194;5.00% 6/1/46
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">335,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">378,841</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">TSASC Revenue, New York
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Settlement)<BR>
Series A 5.00% 6/1/41
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">60,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">67,544
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Valparaiso, Indiana
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Pratt Paper Project)<BR>
7.00% 1/1/44(AMT)
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">240,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">270,110
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">10,571,528
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Education Revenue Bonds &#8212; 19.45%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Arizona Industrial<BR>
Development Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(American Charter Schools Foundation Project)<BR>
144A 6.00% 7/1/47#
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">330,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">383,483
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Board of Regents of the<BR>
University of Texas System
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B 5.00% 8/15/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,588,230
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">California Educational<BR>
Facilities Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Loma Linda University)<BR>
Series A 5.00% 4/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">562,390
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Stanford University)<BR>
Series V-1  5.00% 5/1/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,614,820
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">East Hempfield Township,<BR>
Pennsylvania Industrial Development Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Student Services Income - Student Housing Project)<BR>
5.00% 7/1/35
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,008,640
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Education Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Health &amp; Educational<BR>
Facilities Authority of the State of Missouri
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(St. Louis College of Pharmacy Project)<BR>
5.25% 5/1/33
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">525,515</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Illinois Finance Authority<BR>
Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(CHF - Chicago, L.L.C. - University Of Illinois at Chicago Project)<BR>
Series A 5.00% 2/15/50
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">460,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">435,611
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Chicago International Charter School Project)<BR>
5.00% 12/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">535,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">574,970
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Louisiana Public Facilities<BR>
Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Provident Group-Flagship Properties)<BR>
Series A 5.00% 7/1/56
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">548,805
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Massachusetts<BR>
Development Finance Agency
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Umass Boston Student Housing Project)<BR>
5.00% 10/1/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">285,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">280,275
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New York City, New York<BR>
Trust For Cultural Resources
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Whitney Museum of American Art)<BR>
5.00% 7/1/31
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">504,515
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Philadelphia, Pennsylvania<BR>
Authority for Industrial Development
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(1st Philadelphia Preparatory College)<BR>
Series A 7.25% 6/15/43
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">370,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">413,541
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="clear:both;">
<DIV
style="clear:both;padding-top:99pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;19</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_17">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Schedules of investments</DIV>
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> National Municipal Income Fund&nbsp;</DIV>
</DIV>
<DIV
style="margin-top:19pt;">
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Education Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Phoenix, Arizona Industrial<BR>
Development Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Rowan University Project)<BR>
5.00% 6/1/42
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:22.82pt;">1,035,270</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Pima County, Arizona<BR>
Industrial Development Authority Education Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Edkey Charter School Project)<BR>
6.00% 7/1/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">506,415
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Private Colleges &amp;<BR>
Universities Authority Revenue, Georgia
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Mercer University)<BR>
Series A 5.00% 10/1/32
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">135,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">138,421
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Swarthmore Borough<BR>
Authority, Pennsylvania
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Swarthmore College Project)<BR>
5.00% 9/15/32
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">490,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">556,797
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">University of California
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series AI&#8194;5.00% 5/15/32
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,118,440
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series AZ&#8194;5.25% 5/15/58
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">465,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">577,981
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Wyoming Community<BR>
Development Authority Student Housing Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(CHF-Wyoming LLC)<BR>
6.50% 7/1/43
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">250,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">253,690
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">12,627,809
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Electric Revenue Bonds &#8212; 4.72%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">JEA Electric System<BR>
Revenue, Florida
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.00% 10/1/33
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">355,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">401,714
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Long Island Power<BR>
Authority, New York Electric System Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 9/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">305,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">367,403
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 9/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">286,110
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 9/1/46
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">130,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">155,015
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Electric Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Municipal Electric Authority<BR>
of Georgia (Plant Vogtle Units 3 &amp; 4 Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.00% 1/1/56
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">400,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">477,156</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Philadelphia, Pennsylvania<BR>
Gas Works Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(1998 General Ordinance Fifteenth Series)<BR>
5.00% 8/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">569,460
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Puerto Rico Electric Power<BR>
Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.05% 7/1/42 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:5.80pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">70,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">49,875
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series AAA&#8194;5.25% 7/1/25 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:5.80pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">40,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">28,500
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series CCC&#8194;5.25% 7/1/27 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">315,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">224,437
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series WW&#8194;5.00% 7/1/28 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">305,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">217,312
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series XX&#8194;4.75% 7/1/26 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:5.80pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">40,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">28,300
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series XX&#8194;5.25% 7/1/40 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">120,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">85,500
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series XX&#8194;5.75% 7/1/36 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">150,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">108,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series ZZ&#8194;4.75% 7/1/27 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:5.80pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">35,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">24,763
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series ZZ&#8194;5.25% 7/1/24 &#8225;
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:5.80pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">55,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">39,188
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">3,062,733
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Healthcare Revenue Bonds &#8212; 33.26%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Alabama Special Care<BR>
Facilities Financing Authority-Birmingham Alabama
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Methodist Home for the Aging)<BR>
6.00% 6/1/50
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">514,675
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Allegheny County Hospital,<BR>
Pennsylvania Development Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Allegheny Health Network Obligated Group Issue)<BR>
Series A 4.00% 4/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">300,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">331,284
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Arizona Industrial<BR>
Development Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Great Lakes Senior Living Communities LLC Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/54
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">190,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">162,752
</TD></TR></TABLE>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;">&nbsp;
<DIV
style="clear:both;padding-top:68pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">20&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_18">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Healthcare Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Arizona Industrial<BR>
Development Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 1/1/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">70,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:34.81pt;">57,264</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.125% 1/1/54
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">85,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">69,646
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Phoenix Children's Hospital)<BR>
Series A 4.00% 2/1/50
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">800,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">904,768
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Berks County, Pennsylvania<BR>
Industrial Development Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Tower Health Project)<BR>
5.00% 11/1/50
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,064,200
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Brookhaven Development<BR>
Authority Revenue, Georgia
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Children's Healthcare of Atlanta)<BR>
Series A 4.00% 7/1/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">30,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">34,162
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">California Health Facilities<BR>
Financing Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Kaiser Permanente)<BR>
Series A-2  5.00% 11/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">400,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">614,952
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">California Statewide<BR>
Communities Development Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Loma Linda University Medical Center)<BR>
Series A 144A 5.25% 12/1/56#
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">760,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">822,882
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Capital Trust Agency,<BR>
Florida
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Tuscan Gardens Senior Living Center)<BR>
Series A 7.00% 4/1/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">375,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">258,750
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Colorado Health Facilities<BR>
Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(CommonSpirit Health)<BR>
Series A-2  4.00% 8/1/49
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,094,430
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Healthcare Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Colorado Health Facilities<BR>
Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Healthcare Facilities - American Baptist)<BR>
8.00% 8/1/43
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">330,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">350,638</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Sanford Health)<BR>
Series A 5.00% 11/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">608,350
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Cuyahoga County, Ohio<BR>
Hospital Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(The Metrohealth System)<BR>
5.50% 2/15/57
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,155,830
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Escambia County Health<BR>
Facilities Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Healthcare Facilities - Baptist)<BR>
Series A 4.00% 8/15/50
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">540,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">588,465
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Idaho Health Facilities<BR>
Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(St. Luke's Health System Project)<BR>
Series A 5.00% 3/1/33
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,550,887
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Kalispell, Montana
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Immanuel Lutheran Corporation Project)<BR>
Series A 5.25% 5/15/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">700,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">708,540
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Maine Health &amp; Higher<BR>
Educational Facilities Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Maine General Medical Center)<BR>
6.75% 7/1/41
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">300,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">306,867
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Maryland Health &amp; Higher<BR>
Educational Facilities Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(University of Maryland Medical System Issue)<BR>
Series D 4.00% 7/1/48
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">255,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">279,233
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="clear:both;">
<DIV
style="clear:both;padding-top:66pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;21</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_19">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Schedules of investments</DIV>
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> National Municipal Income Fund&nbsp;</DIV>
</DIV>
<DIV
style="margin-top:19pt;">
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Healthcare Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Miami-Dade County,<BR>
Florida Health Facilities Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Nicklaus Children's Hospital Project)<BR>
5.00% 8/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">200,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">233,064</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Michigan Finance Authority<BR>
Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Beaumont Health Credit Group)<BR>
5.00% 11/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,141,250
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Montgomery County<BR>
Higher Education and Health Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Thomas Jefferson University)<BR>
4.00% 9/1/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">800,963
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Moon, Pennsylvania<BR>
Industrial Development Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Baptist Homes Society Obligation)<BR>
6.125% 7/1/50
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">778,140
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New Hope, Texas Cultural<BR>
Education Facilities
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Cardinal Bay Inc.)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A1&#8194;5.00% 7/1/51
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">135,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">127,317
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;4.75% 7/1/51
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">160,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">121,227
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New Jersey Health Care<BR>
Facilities Financing Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(St. Peters University Hospital)<BR>
6.25% 7/1/35
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">300,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">308,733
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Valley Health System Obligated)<BR>
4.00% 7/1/44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">475,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">537,567
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New York State Dormitory<BR>
Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 4.00% 7/1/53
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">305,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">339,941
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Orange Regional Medical Center)<BR>
144A 5.00% 12/1/35#
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">577,700
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Healthcare Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Orange County, Florida<BR>
Health Facilities Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Mayflower Retirement Center)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 6/1/32
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">400,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">404,436</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 6/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">252,312
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.125% 6/1/42
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">756,465
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Oregon State Facilities<BR>
Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Peacehealth Project)<BR>
Series A 5.00% 11/15/29
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">561,340
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Palm Beach County Health<BR>
Facilities Authority, Florida
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Sinai Residences Boca Raton Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;7.25% 6/1/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:5.80pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">20,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">21,904
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;7.50% 6/1/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">105,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">114,968
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Palomar Health, California
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.00% 11/1/39
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">130,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">147,230
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Tarrant County, Texas<BR>
Cultural Education Facilities Finance
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Buckner Senior Living - Ventana Project)<BR>
6.75% 11/15/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">260,513
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Washington Health Care<BR>
Facilities Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(CommonSpirit Health)<BR>
Series A-2  5.00% 8/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">304,863
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Westminster, Maryland
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Lutheran Village Millers Grant)<BR>
Series A 6.00% 7/1/34
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">541,865
</TD></TR></TABLE>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;">&nbsp;
<DIV
style="clear:both;padding-top:80pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">22&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_20">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Healthcare Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Wisconsin Health &amp;<BR>
Educational Facilities Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Covenant Communities, Inc. Project)<BR>
Series B 5.00% 7/1/53
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">985,650</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Yavapai County, Arizona<BR>
Industrial Development Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Yavapai Regional Medical Center)<BR>
Series A 5.00% 8/1/28
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">720,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">796,291
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">21,592,314
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Lease Revenue Bonds &#8212; 7.77%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">California State Public<BR>
Works Board Lease Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Various Capital Projects)<BR>
Series A 5.00% 4/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,061,990
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Idaho State Building<BR>
Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Health &amp; Welfare Project)<BR>
Series A 5.00% 9/1/24
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">90,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">98,995
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Metropolitan Pier &amp;<BR>
Exposition Authority Illinois Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(McCormick Place Expansion)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;4.00% 6/15/50
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,375,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,396,560
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 6/15/50
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">290,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">322,106
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New Jersey Economic<BR>
Development Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Series WW 5.25% 6/15/30
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,126,220
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Transit Transportation Project)<BR>
Series A 4.00% 11/1/44
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">517,660
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Lease Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Public Finance Authority,<BR>
Wisconsin Airport Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(AFCO Investors II Portfolio)<BR>
144A 5.75% 10/1/31(AMT)#
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">516,955</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">5,040,486
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Local General Obligation Bonds &#8212; 1.84%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Chicago Board of<BR>
Education, Illinois
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 4/1/42
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">205,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">222,195
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 4/1/46
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">210,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">226,330
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Chicago, Illinois
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.50% 1/1/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">225,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">236,887
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series C&#8194;5.00% 1/1/38
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">511,005
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">1,196,417
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Pre-Refunded/Escrowed to Maturity Bonds &#8212; 7.21%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">JEA Electric System<BR>
Revenue, Florida
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.00% 10/1/33-23&#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">645,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">736,635
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Louisiana Public Facilities<BR>
Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Ochsner Clinic Foundation Project)<BR>
6.50% 5/15/37-21&#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">105,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">109,099
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Metropolitan<BR>
Transportation Authority Revenue,<BR>
New York
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.00% 11/15/41-21&#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">190,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">200,368
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Unrefunded)<BR>
Series A 5.00% 11/15/41-21&#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">310,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">326,917
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Monroe County, New York<BR>
Industrial Development Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Nazareth College Rochester Project)<BR>
5.50% 10/1/41-21&#167;
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">495,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">521,022
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="clear:both;">
<DIV
style="clear:both;padding-top:74pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;23</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_21">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Schedules of investments</DIV>
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> National Municipal Income Fund&nbsp;</DIV>
</DIV>
<DIV
style="margin-top:19pt;">
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Pre-Refunded/Escrowed to Maturity Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Monroe County,<BR>
Pennsylvania Hospital Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Pocono Medical Center)<BR>
Series A 5.00% 1/1/41-22&#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">528,905</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New Hope, Texas Cultural<BR>
Education Facilities
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Chief-Collegiate Housing-Tarleton St.)<BR>
Series A 5.00% 4/1/34-24&#167;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,139,360
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New York State Dormitory<BR>
Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.00% 3/15/33-23&#167;
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">1,118,960
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">4,681,266
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Special Tax Revenue Bonds &#8212; 13.97%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Allentown, Pennsylvania<BR>
Neighborhood Improvement Zone Development Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(City Center Project)<BR>
144A 5.375% 5/1/42#
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">175,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">183,566
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Guam Government<BR>
Business Privilege Tax Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Series B-1  5.00% 1/1/42
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">540,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">551,977
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Kansas City, Missouri<BR>
Redevelopment Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Convention Centre Hotel Project - TIF Financing)<BR>
Series B 144A 5.00% 2/1/40#
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">135,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">139,590
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Massachusetts Bay<BR>
Transportation Authority Senior
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.25% 7/1/29
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">200,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">273,604
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Special Tax Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Mosaic District, Virginia<BR>
Community Development Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 6.875% 3/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">520,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">526,750</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New Jersey Economic<BR>
Development Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Cigarette Tax)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 6/15/28
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">200,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">204,888
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 6/15/29
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">800,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">817,536
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Northampton County,<BR>
Pennsylvania Industrial Development Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Route 33 Project)<BR>
7.00% 7/1/32
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">205,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">220,392
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Port Authority of Allegheny<BR>
County, Pennsylvania Special Revenue Transportation Refunding
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.75% 3/1/29
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">900,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">919,854
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Public Finance Authority,<BR>
Wisconsin Airport Facilities Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(American Dream @ Meadowlands Project)<BR>
144A 7.00% 12/1/50#
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">380,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">330,007
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Puerto Rico Sales Tax<BR>
Financing Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Restructured)<BR>
Series A-1  4.75% 7/1/53
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">3,475,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">3,622,722
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Regional Transportation<BR>
District, Colorado Tax Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Denver Transit Partners)<BR>
6.00% 1/15/41
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">500,990
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Sales Tax Securitization,<BR>
Illinois
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.00% 1/1/40
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">575,810
</TD></TR></TABLE>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;">&nbsp;
<DIV
style="clear:both;padding-top:80pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">24&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_22">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Special Tax Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Wyandotte County, Kansas<BR>
City, Kansas Unified Government Special Obligation Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Sales Tax - Vacation Village Project A)<BR>
Series A 5.75% 9/1/32
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">220,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">199,819</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">9,067,505
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">State General Obligation Bonds &#8212; 12.21%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">California State
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">5.25% 11/1/40
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">320,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">321,328
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Various Purposes)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 4/1/32
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">270,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">376,888
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 10/1/41
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">440,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">459,624
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 11/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,226,950
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Commonwealth of Puerto<BR>
Rico
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 8.00% 7/1/35&#8225;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,325,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">844,687
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">District of Columbia
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.00% 6/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">623,310
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Illinois State
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 1/1/28
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">285,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">307,156
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 5/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">90,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">92,230
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 11/1/36
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,170,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,215,103
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 2/1/39
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">160,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">163,091
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.50% 5/1/39
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">547,925
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 4/1/38
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">170,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">173,458
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.125% 12/1/29
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">310,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">339,063
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Rebuild Illinois Program)<BR>
Series B 4.00% 11/1/39
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,300,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">1,234,077
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">7,924,890
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Transportation Revenue Bonds &#8212; 22.78%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Alameda Corridor,<BR>
California Transportation Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(2nd Sub Lien)<BR>
Series B 5.00% 10/1/37
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">430,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">496,504
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Atlanta, Georgia<BR>
Department of Aviation
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B 5.00% 1/1/29
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,130,880
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Transportation Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">California Municipal<BR>
Finance Authority Mobile Home Park Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(LINXS APM Project)<BR>
Series A 5.00% 12/31/47(AMT)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">615,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">698,997</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Chicago, Illinois O'Hare<BR>
International Airport Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(General-Senior Lien)<BR>
Series D 5.25% 1/1/34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,091,210
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Harris County, Texas Toll<BR>
Road Authority Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Senior Lien)<BR>
Series A 4.00% 8/15/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">565,770
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Metropolitan<BR>
Transportation Authority Revenue,<BR>
New York
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Green Bond)<BR>
Series C-1  5.25% 11/15/55
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">750,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">808,912
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Metropolitan Washington<BR>
D.C. Airports Authority Dulles Toll Road Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Dulles Metrorail and Capital Improvement Projects)<BR>
Series B 4.00% 10/1/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">510,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">559,251
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New Jersey Turnpike<BR>
Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;4.00% 1/1/48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,114,360
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 1/1/40
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">250,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">300,110
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New Orleans, Louisiana<BR>
Aviation Board
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Series B 5.00% 1/1/45(AMT)
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,110,630
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="clear:both;">
<DIV
style="clear:both;padding-top:81pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;25</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_23">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Schedules of investments</DIV>
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> National Municipal Income Fund&nbsp;</DIV>
</DIV>
<DIV
style="margin-top:19pt;">
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Transportation Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New York Liberty<BR>
Development Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(1 World Trade Center Port Authority Construction)<BR>
5.00% 12/15/41
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">521,490</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New York Transportation<BR>
Development
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(La Guardia Airport)<BR>
Series A 5.25% 1/1/50(AMT)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">700,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">752,507
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Pennsylvania Turnpike<BR>
Commission Subordinate
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-1&#8194;5.00% 12/1/43
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">558,435
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A-1&#8194;5.00% 12/1/47
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">210,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">249,871
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Port Authority of New York<BR>
&amp; New Jersey Special Project
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(JFK International Air Terminal)<BR>
6.50% 12/1/28
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">506,940
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Salt Lake City, Utah Airport<BR>
Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B 5.00% 7/1/42
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">625,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">741,206
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">South Jersey Port<BR>
Corporation
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Subordinated Marine Terminal Revenue)<BR>
Series B 5.00% 1/1/48(AMT)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">195,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">209,910
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">South Jersey Port, New<BR>
Jersey
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Subordinated Marine Terminal Revenue)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A&#8194;5.00% 1/1/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">85,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">93,060
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series B&#8194;5.00% 1/1/42 (AMT)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.99pt;padding-right:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">85,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">92,288
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">St. Louis, Missouri Airport<BR>
Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Lambert St. Louis International)<BR>
5.00% 7/1/32(AMT)
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,000,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:30.62pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,058,710
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Transportation Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Texas Private Activity Bond<BR>
Surface Transportation Corporate Senior Lien Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Blueridge Transportation Group)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 12/31/40
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">110,000
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:3pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">118,038</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 12/31/45
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">110,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">117,808
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;5.00% 12/31/50
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">160,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">170,830
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(NTE Mobility Partners Segments 3 LLC Segment 3C Project)<BR>
5.00% 6/30/58
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">574,320
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(NTE Mobility Partners)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;6.75% 6/30/43
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">225,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">255,512
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">&#8194;7.00% 12/31/38 (AMT)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">165,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">188,791
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Triborough Bridge &amp; Tunnel<BR>
Authority Revenue, New York
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(MTA Bridges And Tunnels)<BR>
Series A 5.00% 11/15/49
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">350,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">441,333
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Virginia Small Business<BR>
Financing Authority
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Transform 66 P3 Project)<BR>
5.00% 12/31/56(AMT)
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">235,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">263,341
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:23.82pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">14,791,014
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Water &amp; Sewer Revenue Bonds &#8212; 2.08%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">New York City, New York<BR>
Water &amp; Sewer System Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Series GG-1  4.00% 6/15/50
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">577,900
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:40pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">(Unrefunded Balance)<BR>
5.00% 6/15/47
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">185,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:37.81pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">205,844
</TD></TR></TABLE>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;">&nbsp;
<DIV
style="clear:both;padding-top:105pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">26&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_SOI-TOC-ScheduleofInvestments-3514_24">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount&#176;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:3pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">Value (US $)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Municipal Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Water &amp; Sewer Revenue Bonds&#8194;(continued)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Philadelphia, Pennsylvania<BR>
Water &amp; Wastewater Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series A 5.00% 7/1/45
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">500,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:28.57%;">$<FONT
style="padding-left:30.01pt;">564,885</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:left;vertical-align:bottom;width:72.62%;" colspan="3">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:28.62pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">1,348,629
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:20pt;padding-right:1pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:72.62%;" colspan="3">Total Municipal Bonds<BR>
<FONT
style="font-weight:Normal;">(cost $87,794,451)</FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:20.21pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">91,904,591
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:center;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:48.02%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:1pt;padding-right:3pt;padding-top:3pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.05%;">Principal amount
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:10pt;padding-bottom:2pt;padding-top:3pt;text-align:center;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:6pt;padding-top:1.62pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Short-Term Investments &#8212; 1.85%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Variable Rate Demand Notes &#8212; 1.85%&#164;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Mississippi Business<BR>
Finance Corporation Gulf Opportunity Zone Industrial Development Revenue
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">(Chevron USA Project)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:3pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:28.57%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series G&#8194; 0.10% 11/1/35
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:1pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">1,100,000
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:16.61pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;
">1,100,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:30pt;padding-right:1pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:48.02%;">Series H&#8194; 0.10% 11/1/35
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:2pt;padding-left:8.20pt;padding-right:3pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.05%;">100,000
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:2pt;padding-left:23.80pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:28.57%;">100,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:20pt;padding-right:1pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:72.62%;" colspan="3">Total Short-Term Investments<BR>
<FONT
style="font-weight:Normal;">(cost $1,200,000)</FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:11.40pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">1,200,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:20pt;padding-right:1pt;padding-top:1.62pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:48.02%;">Total Value of Securities&#8212;143.42%<BR>
<FONT
style="font-weight:Normal;">(cost $88,994,451)</FONT>
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:1pt;padding-top:1.62pt;text-align:right;vertical-align:bottom;width:5.56%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:2pt;padding-right:3pt;padding-top:1.62pt;text-align:right;vertical-align:bottom;width:19.05%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:2pt;padding-left:3pt;padding-top:1.62pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:28.57%;">$93,104,591
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-right:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;white-space:nowrap;width:3.17%;">&#176;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;
width:98.02%;">Principal amount shown is stated in USD unless noted that the security is denominated in another currency.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;white-space:nowrap;width:3.17%;">#
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:98.02%;">Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At September 30, 2020, the aggregate value of Rule 144A securities was
$4,097,094, which represents 6.31% of the Fund net assets. See Note 0 in &#8220;Notes to financial statements.&#8221;
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-right:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;white-space:nowrap;width:3.17%;">&#8226;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;
width:98.02%;">Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at September 30, 2020. For securities based on a published reference rate and spread, the reference rate and
spread are indicated in their description above. The reference rate descriptions (i.e. LIBOR03M, LIBOR06M, etc.) used in this report are identical for different securities, but the underlying reference rates may
differ due to the timing of the reset period. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market
conditions, or for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their description above.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;white-space:nowrap;width:3.17%;">&#8225;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:98.02%;">Non-income producing security. Security is currently in default.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;white-space:nowrap;width:3.17%;">&#167;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:98.02%;">Pre-refunded bonds. Municipal bonds that are generally backed or secured by US Treasury bonds. For pre-refunded bonds, the stated maturity is followed by the year in which the bond
will be pre-refunded. See Note 8 in &#8220;Notes to financial statements.&#8221;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;white-space:nowrap;width:3.17%;">&#164;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:98.02%;">Tax-exempt obligations that contain a floating or variable interest rate adjustment formula and an unconditional right of demand to receive payment of the unpaid
principal balance plus accrued interest upon a short notice period (generally up to 30 days) prior to specified dates either from the issuer or by drawing on a bank letter of credit, a guarantee, or insurance issued
with respect to such instrument. Each rate shown is as of September 30, 2020.
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-left:0pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;
width:100%;">Summary of abbreviations:
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">AGM &#8211; Insured by Assured Guaranty Municipal Corporation
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">AMT &#8211; Subject to Alternative Minimum Tax
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">CHF &#8211; Collegiate Housing Foundation
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">ICE &#8211; Intercontinental Exchange, Inc.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">LIBOR &#8211; London interbank offered rate
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">LIBOR03M &#8211; ICE LIBOR USD 3 Month
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:100%;">LIBOR06M &#8211; ICE LIBOR USD 6 Month
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:100%;">LLC &#8211; Limited Liability Corporation
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes, which are
an integral part of the financial statements.</DIV>
</DIV>
<DIV
style="clear:both;">
<DIV
style="clear:both;padding-top:180pt;width:100%;" type="Block">
<DIV
style="clear:both;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;27</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_FS-TOC-FinancialStatements-3514_1">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Statements of assets and liabilities</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie Closed-End Municipal Bond Funds</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:Normal;line-height:14pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">September 30, 2020 (Unaudited)</DIV>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="line-height:10pt;padding-bottom:1.5pt;padding-right:4.5pt;text-align:left;vertical-align:bottom;width:61.97%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.26%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
Colorado Municipal<BR>
Income Fund, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.26%;">Delaware<BR>
Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
Minnesota<BR>
Municipal<BR>
Income<BR>
Fund II, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:14.37%;">Delaware<BR>
Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
National<BR>
Municipal<BR>
Income<BR>
Fund
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:61.97%;">Assets:
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:10.26%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:10.26%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:14.37%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Investments, at value*
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.26%;">$<FONT
style="padding-left:2.22pt;">101,217,815</FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.26%;">$<FONT
style="padding-left:2.22pt;">241,614,706</FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;width:14.37%;">$<FONT
style="padding-left:18.02pt;">93,104,591</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:61.97%;">Cash
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:28.31pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.26%;">103,514
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:28.31pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.26%;">136,594
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:39.31pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;
">461,627
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Interest receivable
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.12pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.26%;">1,253,284
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.12pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.26%;">3,055,237
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:32.12pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;
">1,219,187
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Offering cost for preferred shareholders
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:28.31pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.26%;">190,528
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:28.31pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.26%;">190,528
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:39.31pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;
">190,528
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:61.97%;">Other assets
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:49.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:10.26%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:37.91pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:10.26%;">1,989
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:60.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.37%;">&#8212;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:61.97%;">Total Assets
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:11.52pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">102,765,141
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:11.52pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">244,999,054
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:27.32pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;">94,975,933
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:61.97%;">Liabilities:
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:10.26%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:10.26%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:14.37%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Liquidation value of preferred stock
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:16.32pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">30,000,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:16.32pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">75,000,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:27.32pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;">30,000,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Investment management fees payable to affiliates
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:33.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">33,809
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:33.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">80,572
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:44.11pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;">31,315
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Other accrued expenses
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:33.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">18,396
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:49.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.26%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:48.91pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;">6,892
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Audit and tax fees payable
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:33.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">17,470
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:33.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">20,970
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:44.11pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;">17,470
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Legal fees payable to affiliates
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:45.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">900
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:37.91pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">2,100
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:56.11pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;">807
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Accounting and administration expenses payable to affiliates
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:45.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">617
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:37.91pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">1,017
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:56.11pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;">596
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Reports and statements to shareholders expenses payable to non-affiliates
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:45.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">142
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:45.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">331
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:56.11pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;">127
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:61.97%;">Trustees' fees and expenses payable to affiliates
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:49.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:10.26%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:45.11pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">572
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:56.11pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;">220
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:61.97%;">Total Liabilities
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:16.32pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">30,071,334
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:16.32pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">75,105,562
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:27.32pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;">30,057,427
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Total Net Assets Applicable to Common Shares
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.26%;">$<FONT
style="padding-left:7.02pt;">72,693,807</FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.26%;">$<FONT
style="padding-left:2.22pt;">169,893,492</FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:14.37%;">$<FONT
style="padding-left:18.02pt;">64,918,506</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:100%;" colspan="6">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Net Assets Applicable to Common Shareholders Consist of:
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.26%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.26%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:14.37%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Paid-in capital ($0.001 par value)<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#8226;,&#966;</SUP>*, **
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:16.32pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.26%;">66,918,121
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:11.52pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.26%;">157,931,075
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:27.32pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;
">60,209,588
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:61.97%;">Total distributable earnings (loss)
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.12pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">5,775,686
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:16.32pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">11,962,417
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:32.12pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;">4,708,918
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Total Net Assets Applicable to Common Shareholders
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:16.32pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:10.26%;">72,693,807
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:11.52pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:10.26%;">169,893,492
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:27.32pt;padding-top:1.5pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.37%;">64,918,506
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">Net Asset Value per Common Share
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:37.91pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:10.26%;">15.03
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:37.91pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:10.26%;">14.77
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:48.91pt;padding-top:1.5pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.37%;">14.34
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:100%;" colspan="6">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;"><HR
noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:0.60pt solid #000000;height:0.60pt;width:100%;" align="Left"><FONT
style="font-size:9pt;line-height:12pt;">*Investments, at cost</FONT>
</TD><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;width:10.26%;">$<FONT
style="padding-left:11.82pt;">95,600,756</FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;width:10.26%;">$<FONT
style="padding-left:7.5pt;">231,151,191</FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1pt;padding-left:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;
vertical-align:bottom;width:14.37%;">$<FONT
style="padding-left:22.82pt;">88,994,451</FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:6.5pt;font-style:Normal;font-weight:Normal;line-height:9.5pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;">&#8226;<BR>
<FONT
style="font-size:10pt;line-height:13pt;">Closed end shares outstanding</FONT>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.12pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">4,837,100
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:16.32pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.26%;">11,504,975
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:32.12pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.37%;">4,528,443
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:61.97%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#966;</SUP>Common shares authorized
</TD><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:22.53pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.26%;">200&#8201;million
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:22.53pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.26%;">200&#8201;million
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:37.84pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;width:14.37%;">&#8201;unlimited
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes, which are
an integral part of the financial statements.</DIV>
</DIV>
<DIV
style="width:13.11%;" type="Block">
<DIV
style="color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:213pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;28</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_FS-TOC-FinancialStatements-3514_2">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Statements of operations</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie Closed-End Municipal Bond Funds</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:Normal;line-height:14pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">Six months ended September 30, 2020
(Unaudited)</DIV>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="line-height:10pt;padding-bottom:1.5pt;padding-right:4.5pt;text-align:left;vertical-align:bottom;width:60.34%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:16.16%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
Colorado Municipal<BR>
Income Fund, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:9.18%;">Delaware<BR>
Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
Minnesota<BR>
Municipal<BR>
Income<BR>
Fund II, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:11.18%;">Delaware<BR>
Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
National<BR>
Municipal<BR>
Income<BR>
Fund
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Investment Income:
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:16.16%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:9.18%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:11.18%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:60.34%;">Interest
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:16.16%;">$1,891,346
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:9.18%;">$4,190,537
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;width:11.18%;">$1,872,488
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:100%;" colspan="6">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:60.34%;">Expenses:
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:16.16%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:9.18%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:11.18%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Management fees
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:16.49pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.16%;">202,798
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:16.49pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.18%;">484,885
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:16.49pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;
">187,556
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Investment interest expense
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:16.49pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.16%;">183,017
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:16.49pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.18%;">457,541
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:16.49pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;
">183,016
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Accounting and administration expenses
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.16%;">28,052
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.18%;">39,951
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;
">27,409
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Dividend disbursing and transfer agent fees and expenses
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.16%;">22,263
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.18%;">40,418
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;
">23,009
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Audit and tax fees
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.16%;">20,970
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.18%;">20,970
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;
">20,970
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Legal fees
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.16%;">19,155
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.18%;">38,640
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;
">18,190
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Rating agency fees
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.16%;">14,749
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.18%;">15,040
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;
">17,379
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Reports and statements to shareholders expenses
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.16%;">10,135
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.18%;">15,357
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:26.09pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;">9,954
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Offering costs
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:26.09pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.16%;">2,900
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:26.09pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.18%;">2,610
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:26.09pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;">2,938
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Stock exchange fees
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:26.09pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.16%;">2,352
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:26.09pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.18%;">5,483
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:26.09pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;">2,165
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Trustees' fees and expenses
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:26.09pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.16%;">2,124
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:26.09pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.18%;">4,994
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:26.09pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;">1,899
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Custodian fees
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:33.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.16%;">431
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:33.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.18%;">805
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:33.29pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;">433
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Registration fees
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:33.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.16%;">378
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:33.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.18%;">288
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:33.29pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;">198
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:60.34%;">Other
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:16.16%;">10,489
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:9.18%;">18,670
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:21.29pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.18%;">14,180
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:10pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:60.34%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:16.49pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.16%;">519,813
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.18%;">1,145,652
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:16.49pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;">509,296
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:60.34%;">Total operating expenses
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:16.49pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.16%;">519,813
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.18%;">1,145,652
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:16.49pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;">509,296
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Net Investment Income
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.16%;">1,371,533
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.18%;">3,044,885
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;">1,363,192
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Net Realized and Unrealized Gain (Loss):
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:16.16%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:9.18%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:11.18%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Net realized gain (loss) on investments
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:23.50pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.16%;">(9,800)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.88pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.18%;">4
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:13.91pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;
">(163,107)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Net change in unrealized appreciation (depreciation) of investments
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:16.16%;">3,257,462
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:9.18%;">4,618,145
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.18%;">2,788,513
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Net Realized and Unrealized Gain
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.16%;">3,247,662
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.18%;">4,618,149
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;">2,625,406
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:60.34%;">Net Increase in Net Assets Resulting from Operations
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.16%;">$4,619,195
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.18%;">$7,663,034
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.18%;">$3,988,598
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes, which are
an integral part of the financial statements.</DIV>
</DIV>
<DIV
style="width:13.11%;" type="Block">
<DIV
style="color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:249pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;29</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_FS-TOC-FinancialStatements-3514_3">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Statements of changes in net assets</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie Closed-End Municipal Bond Funds</DIV>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="line-height:10pt;padding-bottom:1.5pt;padding-right:4.5pt;text-align:left;vertical-align:bottom;width:33.53%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.83%;" colspan="3">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
Colorado Municipal<BR>
Income Fund, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:21.67%;" colspan="3">Delaware<BR>
Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
Minnesota<BR>
Municipal<BR>
Income<BR>
Fund II, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:21.83%;" colspan="3">Delaware<BR>
Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
National<BR>
Municipal<BR>
Income<BR>
Fund
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:10pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:33.53%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;" rowspan="2">Six months<BR>
ended<BR>
9/30/20<BR>
(Unaudited)
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;" rowspan="2">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;" rowspan="2">Year ended<BR>
3/31/20
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;" rowspan="2">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:9.84%;" rowspan="2">Six months<BR>
ended<BR>
9/30/20<BR>
(Unaudited)
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;" rowspan="2">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:9.84%;" rowspan="2">Year ended<BR>
3/31/20
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;" rowspan="2">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;" rowspan="2">Six months<BR>
ended<BR>
9/30/20<BR>
(Unaudited)
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;" rowspan="2">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-top:1.5pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;width:10.92%;" rowspan="2">Year ended<BR>
3/31/20
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:33.53%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.53%;">Increase (Decrease) in Net Assets from Operations:
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:9.84%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:9.84%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.53%;">Net investment income
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>1,371,533
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>2,605,765
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:9.84%;">$<FONT
style="padding-left:9.60pt;"></FONT>3,044,885
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:9.84%;">$<FONT
style="padding-left:9.60pt;"></FONT>5,318,624
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>1,363,192
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;width:10.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>2,465,717
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.53%;">Net realized gain (loss)
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:28.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:8.92%;">(9,800)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:8.92%;">945,232
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:52.48pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.84%;">4
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:26.09pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.84%;">376,557
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:18.70pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:8.92%;">(163,107)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;
">948,488
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;
text-decoration:none;text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.53%;">Net change in unrealized appreciation (depreciation)
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">3,257,462
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:11.51pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">(2,879,898)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:18.89pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:9.84%;">4,618,145
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:16.31pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:9.84%;">(2,105,990)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">2,788,513
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:11.51pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:10.92%;">(3,576,788)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:20pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.53%;">Net increase (decrease) in net assets resulting from operations
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:14.10pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">4,619,195
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.29pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">671,099
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:18.89pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.84%;">7,663,034
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:18.89pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.84%;">3,589,191
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:14.10pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">3,988,598
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:18.70pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">(162,583)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:100%;" colspan="12">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.53%;">Distributions to Shareholders
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:9.84%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:9.84%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:33.53%;">Distributable earnings
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:11.51pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">(1,209,275)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:11.51pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">(3,438,465)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:16.31pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:9.84%;">(2,358,520)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:16.31pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:9.84%;">(5,540,135)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:11.51pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">(1,154,753)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:11.51pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:10.92%;">(3,151,586)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:33.53%;">Total Distributions to Shareholders
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:11.51pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(1,209,275)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:11.51pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(3,438,465)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:16.31pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.84%;">(2,358,520)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:16.31pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.84%;">(5,540,135)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:11.51pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(1,154,753)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:11.51pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">(3,151,586)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.53%;">Net Increase (Decrease) in Net Assets
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">3,409,920
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:11.51pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(2,767,366)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:18.89pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.84%;">5,304,514
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:16.31pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.84%;">(1,950,944)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">2,833,845
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:11.51pt;padding-top:1.5pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">(3,314,169)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:100%;" colspan="12">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.53%;">Net Assets:
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:9.84%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:9.84%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:33.53%;">Beginning of period
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">69,283,887
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">72,051,253
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:9.84%;">164,588,978
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:9.84%;">166,539,922
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">62,084,661
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:10.92%;">65,398,830
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:33.53%;">End of period
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">$72,693,807
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">$69,283,887
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.84%;">$169,893,492
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.84%;">$164,588,978
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">$64,918,506
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">$62,084,661
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes, which are
an integral part of the financial statements.</DIV>
</DIV>
<DIV
style="width:13.11%;" type="Block">
<DIV
style="color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:300pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;30</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_FS-TOC-FinancialStatements-3514_4">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Statement of cash flows</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie Closed-End Municipal Bond Funds</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:Normal;line-height:14pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">Six months ended September 30, 2020
(Unaudited)</DIV>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="line-height:10pt;padding-bottom:1.5pt;padding-right:4.5pt;text-align:left;vertical-align:bottom;width:62.98%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.63%;">Delaware<BR>
Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
Colorado<BR>
Municipal<BR>
Income<BR>
Fund, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.63%;">Delaware<BR>
Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
Minnesota<BR>
Municipal<BR>
Income<BR>
Fund II, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;width:12.63%;">Delaware<BR>
Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
National<BR>
Municipal<BR>
Income<BR>
Fund
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Net Cash Provided by (Used for) Operating Activities:
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:10.63%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:10.63%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:12.63%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Net increase in net assets resulting from operations
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.63%;">$<FONT
style="padding-left:2.59pt;"></FONT> 4,619,195
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.63%;">$<FONT
style="padding-left:2.59pt;"></FONT> 7,663,034
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;width:12.63%;">$<FONT
style="padding-left:2.59pt;"></FONT> 3,988,598
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:62.98%;">Adjustments to reconcile net increase in net assets from operations<BR>
to cash provided by (used for) operating activities:
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:10.63%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:10.63%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:12.63%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Amortization of premium and accretion of discount on investments
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:19.08pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">285,466
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:11.89pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">1,156,654
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:19.08pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;
">216,671
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Purchase of investment securities
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">(6,732,142)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">(3,412,250)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:9.30pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;
">(5,494,127)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Proceeds from disposition of investment securities
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:11.89pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">7,421,354
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:11.89pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">3,165,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:11.89pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;
">4,381,623
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Purchase of short-term investment securities, net
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">(2,175,000)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">(2,300,000)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:19.08pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;
">200,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Net realized gain (loss) on investments
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:28.68pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">9,800
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:42.88pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">(4)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:19.08pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;
">163,107
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Net change in net unrealized appreciation (depreciation)
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">(3,257,462)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">(4,618,146)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:9.30pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;
">(2,788,513)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Increase (decrease) in interest receivable
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:23.88pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">37,649
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:23.88pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">12,588
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:21.29pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;
">(61,707)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Decrease in other accrued expenses receivable
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:23.88pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">14,310
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:23.88pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">12,321
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:23.88pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;
">14,310
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Decrease in offering costs for preferred shareholders
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:28.68pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">3,340
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:28.68pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">3,340
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:28.68pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;">3,340
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Decrease in payable for securities purchased
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:16.49pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">(100,180)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:40.27pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:9.30pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;
">(1,250,918)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Decrease in investment management fees payable
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:33.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">(185)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:26.09pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">(1,173)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:33.29pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;">(433)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Decrease in Trustees' fees and expenses payable
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:33.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">(509)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:33.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">(612)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:33.29pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;">(251)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Increase in audit fees payable
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.88pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">13,970
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.88pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">17,470
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.88pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;">13,970
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Decrease in other affiliates payable
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:33.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">(424)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:33.29pt;padding-right:4.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.63%;">(973)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:33.29pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;">(424)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:20pt;padding-right:4.5pt;padding-top:1pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:62.98%;">Decrease in other accrued expenses
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.29pt;padding-right:4.5pt;
padding-top:1pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">(25,592)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.29pt;padding-right:4.5pt;
padding-top:1pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">(31,361)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.29pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;">(21,779)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:62.98%;">Total adjustments
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">(4,505,605)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">(5,997,146)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;">(4,625,131)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:62.98%;">Net cash provided by operating activities
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:19.08pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">113,590
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:11.89pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">1,665,888
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:16.49pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;">(636,533)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:62.98%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:10.63%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:10.63%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:12.63%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Cash Flows Used for Financing Activities:
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:10.63%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:10.63%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:12.63%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:62.98%;">Cash dividends and distributions paid to common shareholders
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">(1,209,275)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">(2,358,520)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;">(1,154,753)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:62.98%;">Net cash used for financing activities
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">(1,209,275)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">(2,358,520)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:9.30pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;">(1,154,753)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:62.98%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:10.63%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:10.63%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:12.63%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Net increase (decrease) in cash
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">(1,095,685)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:16.49pt;padding-right:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">(692,632)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;">(1,791,286)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Cash at beginning of year
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:11.89pt;padding-right:4.5pt;
padding-top:1pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">1,199,199
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:19.08pt;padding-right:4.5pt;
padding-top:1pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.63%;">829,226
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:11.89pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.63%;">2,252,913
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:62.98%;">Cash at end of year
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.63%;">$<FONT
style="padding-left:9.78pt;"></FONT>103,514
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.63%;">$<FONT
style="padding-left:9.78pt;"></FONT>136,594
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:12.63%;">$<FONT
style="padding-left:9.78pt;"></FONT>461,627
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:62.98%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:10.63%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:10.63%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:12.63%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:62.98%;">Cash paid for interest expense for leverage
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.63%;">$<FONT
style="padding-left:9.78pt;"></FONT>183,017
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.63%;">$<FONT
style="padding-left:9.78pt;"></FONT>457,541
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:12.63%;">$<FONT
style="padding-left:9.78pt;"></FONT>183,016
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes, which are
an integral part of the financial statements.</DIV>
</DIV>
<DIV
style="width:13.11%;" type="Block">
<DIV
style="color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:191pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;31</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_FIHI-TOC-FiHi-3514_1">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Financial highlights</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Colorado Municipal Income Fund, Inc.</DIV>
</DIV>
<DIV
style="margin-top:4pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Selected data for each share of the
Fund outstanding throughout each period were as follows:</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-bottom:0.5pt solid #000000;border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="line-height:9pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:6pt;text-align:left;vertical-align:bottom;width:33.34%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:6pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;" rowspan="2">Six months ended<BR>
09/30/20
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;" rowspan="2">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:52.60%;" colspan="9">Year ended
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:9pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:33.34%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/20
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/19
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/18
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/17
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/16
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net asset value, beginning of period
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.32
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.90
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.90
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.93
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>15.66
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-top:1.5pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;width:10.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>15.55
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Income (loss) from investment operations
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net investment income<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">1</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.29
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.54
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.58
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.63
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.67
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">0.71
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net realized and unrealized gain (loss)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.71
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.40)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.04
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.03
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.68)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">0.12
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:33.34%;">Total from investment operations
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">1.00
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.14
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.62
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.66
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.01)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">0.83
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Less dividends and distributions from:
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net investment income
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.29)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.57)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.62)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.69)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.72)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">(0.72)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net realized gain
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.15)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">&#8212;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:10.92%;">&#8212;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:33.34%;">Total dividends and distributions
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.29)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.72)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.62)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.69)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.72)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">(0.72)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net asset value, end of period
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>15.03
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.32
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.90
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.90
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.93
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>15.66
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Market value, end of period
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>13.90
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>13.27
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.17
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.39
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.70
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>15.07
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Total return based on:<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">2</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net asset value
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">6.89%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.58%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">4.50%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">4.44%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.96pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.07%)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">5.85%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Market value
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">6.67%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.96pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(1.99%)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">2.90%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">2.44%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">2.24%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10.75pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">10.38%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Ratios and supplemental data:
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net assets, end of period (000 omitted)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>72,694
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>69,284
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>72,051
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>72,050
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>72,240
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;width:10.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>75,771
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.34%;">Ratio of expenses to average net assets applicable to common shareholders<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">3</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">1.46%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">2.10%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">2.14%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">1.82%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">1.60%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">1.52%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.34%;">Ratio of net investment income to average net assets applicable to common shareholders<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">4</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">3.85%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">3.56%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">3.98%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">4.14%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">4.32%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">4.59%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Portfolio turnover
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:27.54pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">7%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:22.74pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">31%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:27.54pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">7%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:22.74pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">11%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:22.74pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">12%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:22.74pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">13%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Leverage analysis:
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.34%;">Value of preferred shares outstanding (000 omitted)<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">5</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">300,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">30,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">30,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">30,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">30,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">30,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.34%;">Net asset coverage per share of preferred shares, end of period<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">5</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">342,313
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">330,946
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">340,171
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">340,167
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">340,799
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">352,571
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Liquidation value per share of preferred shares<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">5</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">100,000
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-left:0pt;padding-right:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">1</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;
width:99.31%;">Net investment income is reduced by dividends paid to preferred shareholders from net investment income of $0.079, $0.168, $0.135, $0.110, $0.079, and $0.077 per share for the six months ended September
30, 2019 and the years ended March 31, 2019, 2018, 2017, 2016, and 2015, respectively.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">2</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:99.31%;">Total investment return is calculated assuming a purchase of common stock on the opening of the first day and a sale on the closing of the last day of each period reported. Dividends
and distributions, if any, are assumed for the purposes of this calculation to be reinvested at prices obtained under the Fund&#8217;s dividend reinvestment plan. Generally, total investment return based on net asset
value will be higher than total investment return based on market value in periods where there is an increase in the discount or a decrease in the premium of the market value to the net asset value from the beginning
to the end of such periods. Conversely, total investment return based on net asset value will be lower than total investment return based on market value in periods where there is a decrease in the discount or an
increase in the premium of the market value to the net asset value from the beginning to the end of such periods.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">3</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:99.31%;">The ratio of expenses to average net assets applicable to common shareholders excluding interest expense for the six months ended September 30, 2019 and years
ended March 31, 2019, 2018, 2017, 2016, and 2015 were 0.94%, 0.85%, 0.81%, 0.82%, 0.90%, and 0.85%, respectively.
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="width:13.11%;" type="Block">
<DIV
style="color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:51pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;32</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
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<DIV
style="width:100%;">
<A name="x_FIHI-TOC-FiHi-3514_2">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-top:33pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Colorado Municipal Income Fund, Inc.</DIV>
</DIV>
<DIV
style="margin-top:15pt;width:100%;" type="Block">
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:Normal;line-height:14pt;padding-left:0pt;padding-right:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">4</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;
width:99.31%;">The ratio of net investment income excluding interest expense to average net assets for the six months ended September 30, 2019 and the years ended March 31, 2019, 2018, 2017, 2016, and 2015 were 4.70%,
5.12%, 5.03%, 5.03%, 5.11%, and 5.16% respectively.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">5</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:99.31%;">In November 2011, the Fund issued a series of 300 variable rate preferred shares, with a liquidation preference of $100,000 per share (Series 2016 Shares).The
Series 2016 Shares were redeemed on February 2, 2016 and replaced with Series 2021 Shares, which were the same amount and value as the Fund&#8217;s Series 2016 Shares. On April 25, 2019, the Fund redeemed the Series
2021 Shares, and replaced them with Series 2049 Muni-MultiMode Preferred Shares (Series 2049), which have the same amount and value as the Series 2021 Shares.
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes, which are an
integral part of the financial statements.</DIV>
</DIV>
<DIV
style="width:13.11%;" type="Block">
<DIV
style="color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:543pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;33</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_FIHI-TOC-FiHi-3514_3">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Financial highlights</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Minnesota Municipal Income Fund II, Inc.&nbsp;</DIV>
</DIV>
<DIV
style="margin-top:4pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Selected data for each share of the
Fund outstanding throughout each period were as follows:</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-bottom:0.5pt solid #000000;border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="line-height:9pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:6pt;text-align:left;vertical-align:bottom;width:33.34%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:6pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;" rowspan="2">Six months ended<BR>
09/30/20
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;" rowspan="2">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:52.60%;" colspan="9">Year ended
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:9pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:33.34%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/20
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/19
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/18
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/17
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/16
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net asset value, beginning of period
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.31
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.27
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.41
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>15.05
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-top:1.5pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;width:10.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.97
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Income (loss) from investment operations
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net investment income<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">1</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.27
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.46
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.48
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.51
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.55
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">0.63
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net realized and unrealized gain (loss)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.44
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.15)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.18
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.12)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.59)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">0.08
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:33.34%;">Total from investment operations
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.71
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.31
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.66
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.39
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.04)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">0.71
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Less dividends and distributions from:
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net investment income
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.25)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.45)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.45)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.53)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.60)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">(0.63)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net realized gain
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.03)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">&#8212;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:10.92%;">&#8212;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:33.34%;">Total dividends and distributions
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.25)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.48)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.45)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.53)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.60)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">(0.63)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net asset value, end of period
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.77
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.31
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.48
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.27
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.41
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>15.05
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Market value, end of period
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>13.00
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>12.37
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>12.63
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>12.63
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.56
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.70
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Total return based on:<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">2</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net asset value
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">4.89%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">2.45%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">5.26%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">2.82%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.96pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.27%)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">5.30%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Market value
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">6.80%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">1.53%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">3.73%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.96pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(9.94%)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">3.16%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10.75pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">11.17%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Ratios and supplemental data:
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net assets, end of period (000 omitted)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">$169,893
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">$164,589
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">$166,540
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">$164,193
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">$165,754
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">$173,119
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.34%;">Ratio of expenses to average net assets applicable to common shareholders<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">3</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">1.37%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">1.97%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">2.10%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">1.78%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">1.59%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">1.46%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.34%;">Ratio of net investment income to average net assets applicable to common shareholders<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">4</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">3.64%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">3.12%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">3.40%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">3.48%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">3.69%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">4.24%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Portfolio turnover
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:27.54pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">1%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:22.74pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">14%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:22.74pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">13%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:22.74pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">22%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:27.54pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">9%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:22.74pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">16%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Leverage analysis:
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.34%;">Value of preferred shares outstanding (000 omitted)<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">5</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">75,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">75,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">75,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">75,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">75,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">75,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.34%;">Net asset coverage per share of preferred shares, end of period<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">5</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">326,525
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">319,452
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">322,053
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">318,924
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">321,006
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">330,825
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Liquidation value per share of preferred shares<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">5</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">100,000
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-left:0pt;padding-right:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">1</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;
width:99.31%;">Net investment income is reduced by dividends paid to preferred shareholders from net investment income of $0.079, $0.168, $0.135, $0.110, $0.079, and $0.077 per share for the six months ended September
30, 2019 and the years ended March 31, 2019, 2018, 2017, 2016, and 2015, respectively.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">2</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:99.31%;">Total investment return is calculated assuming a purchase of common stock on the opening of the first day and a sale on the closing of the last day of each period reported. Dividends
and distributions, if any, are assumed for the purposes of this calculation to be reinvested at prices obtained under the Fund&#8217;s dividend reinvestment plan. Generally, total investment return based on net asset
value will be higher than total investment return based on market value in periods where there is an increase in the discount or a decrease in the premium of the market value to the net asset value from the beginning
to the end of such periods. Conversely, total investment return based on net asset value will be lower than total investment return based on market value in periods where there is a decrease in the discount or an
increase in the premium of the market value to the net asset value from the beginning to the end of such periods.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">3</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:99.31%;">The ratio of expenses to average net assets applicable to common shareholders excluding interest expense for the six months ended September 30, 2019 and years
ended March 31, 2019, 2018, 2017, 2016, and 2015 were 0.94%, 0.85%, 0.81%, 0.82%, 0.90%, and 0.85%, respectively.
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="margin-top:51pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">34&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_FIHI-TOC-FiHi-3514_4">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-top:33pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Minnesota Municipal Income Fund II, Inc.</DIV>
</DIV>
<DIV
style="margin-top:15pt;width:100%;" type="Block">
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:Normal;line-height:14pt;padding-left:0pt;padding-right:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">4</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;
width:99.31%;">The ratio of net investment income excluding interest expense to average net assets for the six months ended September 30, 2019 and the years ended March 31, 2019, 2018, 2017, 2016, and 2015 were 4.70%,
5.12%, 5.03%, 5.03%, 5.11%, and 5.16% respectively.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">5</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:99.31%;">In November 2011, the Fund issued a series of 750 variable rate preferred shares, with a liquidation preference of $100,000 per share (Series 2016 Shares).The
Series 2016 Shares were redeemed on February 2, 2016 and replaced with Series 2021 Shares, which were the same amount and value as the Fund&#8217;s Series 2016 Shares. On April 25, 2019, the Fund redeemed the Series
2021 Shares, and replaced them with Series 2049 Muni-MultiMode Preferred Shares (Series 2049), which have the same amount and value as the Series 2021 Shares.
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes, which are an
integral part of the financial statements.</DIV>
</DIV>
<DIV
style="width:13.11%;" type="Block">
<DIV
style="color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:543pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;35</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_FIHI-TOC-FiHi-3514_5">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Financial highlights</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> National Municipal Income Fund&nbsp;</DIV>
</DIV>
<DIV
style="margin-top:4pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Selected data for each share of the
Fund outstanding throughout each period were as follows:</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-bottom:0.5pt solid #000000;border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="line-height:9pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:6pt;text-align:left;vertical-align:bottom;width:33.34%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:6pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;" rowspan="2">Six months ended<BR>
09/30/20
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;" rowspan="2">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:52.60%;" colspan="9">Year ended
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;line-height:9pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:33.34%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/20
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/19
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/18
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/17
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">03/31/16
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net asset value, beginning of period
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>13.71
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.44
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.34
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.31
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>15.02
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-top:1.5pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;width:10.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.97
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Income (loss) from investment operations
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net investment income<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">1</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.30
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.54
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.59
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.64
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.66
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:23.69pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">0.70
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net realized and unrealized gain (loss)
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.63
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.57)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.11
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.01)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.69)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">0.11
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:33.34%;">Total from investment operations
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.93
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.03)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.70
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.63
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.03)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:23.69pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">0.81
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Less dividends and distributions from:
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net investment income
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.30)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.55)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.60)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.60)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.68)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:21.11pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">(0.76)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net realized gain
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.15)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-right:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:8.92%;">&#8212;
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:30.49pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:10.92%;">&#8212;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:33.34%;">Total dividends and distributions
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.30)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.70)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.60)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.60)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.68)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:21.11pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">(0.76)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net asset value, end of period
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.34
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>13.71
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.44
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.34
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;
text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>14.31
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>15.02
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Market value, end of period
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>12.34
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>12.24
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>12.69
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>12.62
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-right:4.5pt;
padding-top:1.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>12.94
</TD><TD
style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:4.5pt;padding-top:1.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:4.5pt;padding-top:1.5pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.92%;">$<FONT
style="padding-left:9.60pt;"></FONT>13.80
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Total return based on:<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">2</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net asset value
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">6.79%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.96pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(0.24%)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">5.71%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">4.84%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">0.01%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">6.35%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Market value
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">2.94%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">1.35%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">5.56%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">2.04%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:12.96pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">(1.50%)<FONT
style="padding-left:-2.59pt;"></FONT>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10.75pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">11.32%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Ratios and supplemental data:
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Net assets, end of period (000 omitted)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>64,919
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>62,085
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>65,399
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>64,924
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;width:8.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>64,792
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:4.5pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;width:10.92%;">$<FONT
style="padding-left:4.80pt;"></FONT>68,008
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.34%;">Ratio of expenses to average net assets applicable to common shareholders<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">3</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">1.60%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">2.27%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">2.31%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">1.97%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">1.73%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">1.70%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.34%;">Ratio of net investment income to average net assets applicable to common shareholders<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">4</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">4.28%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">3.69%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">4.19%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">4.36%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">4.45%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:15.55pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">4.72%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Portfolio turnover
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:27.54pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">5%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:22.74pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">33%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:22.74pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">16%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:22.74pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">50%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:22.74pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">13%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:22.74pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">25%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:98.86%;" colspan="13">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Leverage analysis:
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:10pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:8.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:10.92%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.34%;">Value of preferred shares outstanding (000 omitted)<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">5</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">30,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">30,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">30,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">30,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">30,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:14.10pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">30,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-indent:-10pt;text-transform:none;vertical-align:bottom;width:33.34%;">Net asset coverage per share of preferred shares, end of period<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">5</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">316,395
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">306,949
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">317,996
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">316,412
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">315,898
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:9.30pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">326,693
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:0pt;padding-right:4.5pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:33.34%;">Liquidation value per share of preferred shares<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">5</SUP>
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-right:4.5pt;padding-top:1pt;text-align:right;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.92%;">100,000
</TD><TD
style="line-height:0pt;padding-bottom:6pt;padding-right:4.5pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:6pt;padding-left:9.30pt;padding-top:1pt;text-align:right;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.92%;">100,000
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-left:0pt;padding-right:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">1</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;
width:99.31%;">Net investment income is reduced by dividends paid to preferred shareholders from net investment income of $0.079, $0.168, $0.135, $0.110, $0.079, and $0.077 per share for the six months ended September
30, 2019 and the years ended March 31, 2019, 2018, 2017, 2016, and 2015, respectively.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">2</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:99.31%;">Total investment return is calculated assuming a purchase of common stock on the opening of the first day and a sale on the closing of the last day of each period reported. Dividends
and distributions, if any, are assumed for the purposes of this calculation to be reinvested at prices obtained under the Fund&#8217;s dividend reinvestment plan. Generally, total investment return based on net asset
value will be higher than total investment return based on market value in periods where there is an increase in the discount or a decrease in the premium of the market value to the net asset value from the beginning
to the end of such periods. Conversely, total investment return based on net asset value will be lower than total investment return based on market value in periods where there is a decrease in the discount or an
increase in the premium of the market value to the net asset value from the beginning to the end of such periods.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">3</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:99.31%;">The ratio of expenses to average net assets applicable to common shareholders excluding interest expense for the six months ended September 30, 2019 and years
ended March 31, 2019, 2018, 2017, 2016, and 2015 were 0.94%, 0.85%, 0.81%, 0.82%, 0.90%, and 0.85%, respectively.
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="margin-top:51pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">36&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
</DIV>
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</DIV>
<HR
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style="width:100%;">
<A name="x_FIHI-TOC-FiHi-3514_6">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-top:33pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> National Municipal Income Fund</DIV>
</DIV>
<DIV
style="margin-top:15pt;width:100%;" type="Block">
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:Normal;line-height:14pt;padding-left:0pt;padding-right:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">4</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-left:3pt;padding-top:8.5pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;
width:99.31%;">The ratio of net investment income excluding interest expense to average net assets for the six months ended September 30, 2019 and the years ended March 31, 2019, 2018, 2017, 2016, and 2015 were 4.70%,
5.12%, 5.03%, 5.03%, 5.11%, and 5.16% respectively.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:1.26%;"><SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">5</SUP>
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:3pt;padding-top:1.75pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:99.31%;">In November 2011, the Fund issued a series of 300 variable rate preferred shares, with a liquidation preference of $100,000 per share (Series 2016 Shares).The
Series 2016 Shares were redeemed on February 2, 2016 and replaced with Series 2021 Shares, which were the same amount and value as the Fund&#8217;s Series 2016 Shares. On April 25, 2019, the Fund redeemed the Series
2021 Shares, and replaced them with Series 2049 Muni-MultiMode Preferred Shares (Series 2049), which have the same amount and value as the Series 2021 Shares.
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="width:13.11%;" type="Block">
<DIV
style="color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:561pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;37</DIV>
</DIV>
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<A name="x_NTF-TOC-NotestoFinancialStatements-3514_1">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Notes to financial statements</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie Closed-End Municipal Bond Funds </DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:Normal;line-height:14pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">September 30, 2020 (Unaudited)</DIV>
</DIV>
<DIV
style="margin-top:4pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Colorado Municipal Income Fund, Inc. (Colorado Municipal Fund) and Delaware Investments Minnesota Municipal Income Fund
II, Inc. (Minnesota Municipal Fund II) are organized as Minnesota corporations and Delaware Investments National Municipal Income Fund (National Municipal Fund) is organized as a Massachusetts business trust (each
referred to as a Fund and collectively as the Funds). Colorado Municipal Fund, Minnesota Municipal Fund II, and National Municipal Fund are considered diversified closed-end management investment companies under the
Investment Company Act of 1940, as amended. The Funds&#8217; shares trade on the NYSE American, the successor to the American Stock Exchange, formerly known as NYSE Market.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">The investment objective of each of
Colorado Municipal Fund and Minnesota Municipal Fund II is to provide current income exempt from federal income tax and from state personal income tax, if any, consistent with the preservation of capital. The
investment objective of National Municipal Fund is to provide current income exempt from federal income tax, consistent with the preservation of capital. Each of Colorado Municipal Fund and Minnesota Municipal Fund II
seeks to achieve its investment objective by investing substantially all of its net assets in investment grade, tax-exempt municipal obligations of its respective state at the time of investment. National Municipal
Fund seeks to achieve its investment objective by investing at least 80% of its net assets in securities the income from which is exempt from federal income tax.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:12.5pt;text-align:left;text-decoration:none;text-transform:none;">1.&nbsp;Significant Accounting
Policies</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Each Fund follows accounting and
reporting guidance under Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, Financial Services &#8722; Investment Companies. The following accounting policies are in accordance
with US generally accepted accounting principles (US GAAP) and are consistently followed by the Funds.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Security Valuation<FONT
style="font-weight:Normal;">&nbsp;&#8212;&nbsp; Debt securities are valued based upon valuations provided by an independent pricing service or broker and reviewed by management. To the extent current market prices
are not available, the pricing service may take into account developments related to the specific security, as well as transactions in comparable securities. Valuations for fixed income securities utilize matrix
systems, which reflect such factors as security prices, yields, maturities, and ratings, and are supplemented by dealer and exchange quotations. Generally, other securities and assets for which market quotations are
not readily available are valued at fair value as determined in good faith under the direction of each Trust&#8217;s Board of Directors or Board of Trustees, as applicable (each, a Board or, collectively, the Boards).
In determining whether market quotations are readily available or fair valuation will be used, various factors will be taken into consideration, such as market closures or suspension of trading in a security.
Restricted securities are valued at fair value using methods approved by the Boards.</FONT></DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Federal Income Taxes<FONT
style="font-weight:Normal;">&nbsp;&#8212;&nbsp; No provision for federal income taxes has been made as each Fund intends to continue to qualify for federal income tax purposes as a regulated investment company under
Subchapter M of the Internal Revenue Code of 1986, as amended, and make the requisite distributions to shareholders. The Funds evaluate tax positions taken or expected to be taken in the course of preparing each
Fund&#8217;s tax returns to determine whether the tax positions are &#8220;more-likely-than-not&#8221; of being sustained by the applicable tax authority. Tax positions not deemed to meet the
&#8220;more-likely-than-not&#8221; threshold are recorded as a tax benefit or expense in the current year. Management has analyzed each Fund&#8217;s tax positions taken or expected to be taken on each Fund&#8217;s
federal income tax returns through the six months ended September 30, 2020 and for all open tax years (years ended March 31, 2017&#8211;March 31, 2020), and has concluded that no provision for federal income tax is
required in each Fund&#8217;s financial statements. If applicable, each Fund recognizes interest accrued on unrecognized tax benefits in interest expense and penalties in "Other" on the &#8220;Statements of
operations.&#8221; During the six months ended September 30, 2020, the Funds did not incur any interest or tax penalties.</FONT></DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Cash and Cash Equivalents<FONT
style="font-weight:Normal;">&nbsp;&#8212;&nbsp; Cash and cash equivalents include deposits held at financial institutions, which are available for each Fund&#8217;s use with no restrictions, with original maturities
of 90 days or less</FONT></DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Use of Estimates<FONT
style="font-weight:Normal;">&nbsp;&#8212;&nbsp; The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the fair value of investments, the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates and the differences could be material.</FONT></DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Other &nbsp;&#8212;&nbsp;<FONT
style="font-weight:Normal;"> Expenses directly attributable to each Fund are charged directly to the Fund. Other expenses common to various funds within the Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie (Delaware Funds) are generally allocated among such funds on the basis of average net assets. Management
fees and certain other expenses are paid monthly. Security transactions are recorded on the date the securities are purchased or sold (trade date) for financial reporting purposes. Costs used in calculating realized
gains and losses on the sale of investment securities are those of the specific securities sold. Interest income is recorded on the accrual basis. Discounts and premiums on debt securities are accreted or amortized
to</FONT></DIV>
</DIV>
<DIV
style="width:13.11%;" type="Block">
<DIV
style="color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:35pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;38</DIV>
</DIV>
</DIV>
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style="clear:both;font-size:12pt;height:0pt;">
</DIV>
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style="margin-bottom:0pt;">
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style="width:100%;">
<A name="x_NTF-TOC-NotestoFinancialStatements-3514_2">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">interest income, respectively, over the lives of
the respective securities using the effective interest method. Each Fund declares and pays dividends from net investment income monthly and distributions from net realized gain on investments, if any, annually. Each
Fund may distribute more frequently, if necessary for tax purposes. Dividends and distributions, if any, are recorded on the ex-dividend date.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:12.5pt;text-align:left;text-decoration:none;text-transform:none;">2.&nbsp;Investment Management,
Administration Agreements and Other Transactions with Affiliates</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">In accordance with the terms of its
respective investment management agreement, each Fund pays Delaware Management Company (DMC), a series of Macquarie Investment Management Business Trust and the investment manager, an annual fee of 0.40% which is
calculated based on each Fund&#8217;s adjusted average daily net assets.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments Fund Services
Company (DIFSC), an affiliate of DMC, provides fund accounting and financial administration oversight services to each Fund. For these services, DIFSC&#8217;s fees are calculated daily and paid monthly based on the
aggregate daily net assets of all funds within the Delaware Funds at the following annual rates: 0.00475% of the first $35 billion; 0.0040% of the next $10 billion; and 0.0025% of aggregate average daily net assets in
excess of $45 billion (Total Fee). Each fund in the Delaware Funds pays a minimum of $4,000, which, in aggregate, is subtracted from the Total Fee. Each fund then pays its portion of the remainder of the Total Fee on
a relative net asset value (NAV) basis. These amounts are included on the &#8220;Statements of operations&#8221; under &#8220;Accounting and administration expenses.&#8221; For the six months ended September 30, 2020,
the Funds were charged for these services as follows:</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:56.11%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:6pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:81.99%;">Fund
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:6pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-top:6pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.96%;">Fees
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:81.99%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Colorado Municipal Income Fund, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-top:1.5pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;width:13.96%;">$3,748
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:81.99%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Minnesota Municipal Income Fund II, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:4.80pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.96%;">6,181
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:81.99%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> National Municipal Income Fund
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:4.80pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.96%;">3,617
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">As provided in the investment
management agreement, each Fund bears a portion of the cost of certain resources shared with DMC, including the cost of internal personnel of DMC and/or its affiliates that provide legal, tax, and regulatory reporting
services to each Fund. These amounts are included on the &#8220;Statements of operations&#8221; under &#8220;Legal fees.&#8221; For the six months ended September 30, 2020, each Fund was charged for internal legal,
tax, and regulatory reporting services provided by DMC and/or its affiliates&#8217; employees as follows:</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:57.03%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:6pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:80.64%;">Fund
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:6pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-top:6pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.35%;">Fees
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:80.64%;">Delaware Investments Colorado Municipal Income Fund, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-top:1.5pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;width:15.35%;">$14,640
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:80.64%;">Delaware Investments Minnesota Municipal Income Fund II, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:4.80pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.35%;">26,761
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:80.64%;">Delaware Investments National Municipal Income Fund
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:4.80pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.35%;">13,685
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Directors&#8217;/Trustees&#8217;
fees include expenses accrued by each Fund for each Director&#8217;s/Trustee&#8217;s retainer and meeting fees. Certain officers of DMC and DIFSC are officers and/or Directors/Trustees of the Funds. These officers and
Directors/Trustees are paid no compensation by the Funds.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Cross trades for the six months
ended September 30, 2020, were executed by the Funds pursuant to procedures adopted by the Boards designed to ensure compliance with Rule 17a-7 under the 1940 Act. Cross trading is the buying or selling of portfolio
securities between funds of investment companies, or between a fund of an investment company and another entity, that are or could be considered affiliates by virtue of having a common investment advisor (or
affiliated investment advisors), common directors/trustees and/or common officers. At their regularly scheduled meetings, the Boards review such transactions for compliance with the procedures adopted by the
Boards.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">Pursuant to these procedures, for
the six months ended September 30, 2020, the Funds engaged in Rule 17a-7 securities purchases and securities sales, which resulted in net realized gains or losses as follows:</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:90.48%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="line-height:10pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:6pt;text-align:left;vertical-align:bottom;width:52.09%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:8.5pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.21%;">Purchases
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.74%;">Sales
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-top:6pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:21.16%;">Net realized gain (loss)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:52.09%;">Delaware Investments Colorado Municipal Income Fund, Inc.
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.21%;">$2,099,155
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:10.74%;">$1,020,633
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1.5pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;width:21.16%;">$(69,092)
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:52.09%;">Delaware Investments Minnesota Municipal Income Fund II, Inc.
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:4.80pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.21%;">2,475,068
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:13.30pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.74%;">3,575,136
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:32.28pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:21.16%;">&#8212;

</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:52.09%;">Delaware Investments National Municipal Income Fund
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:4.80pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.21%;">3,502,353
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:13.30pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:10.74%;">2,299,153
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:13.30pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:21.16%;
">(86,597)
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="width:13.11%;" type="Block">
<DIV
style="color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:101pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;39</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_NTF-TOC-NotestoFinancialStatements-3514_3">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Notes to financial statements</DIV>
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie Closed-End Municipal Bond Funds &nbsp;</DIV>
</DIV>
<DIV
style="margin-top:4pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:12.5pt;text-align:left;text-decoration:none;text-transform:none;">3.&nbsp;Investments</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">For the six months ended September
30, 2020, each Fund made purchases and sales of investment securities other than US government securities and short-term investments as follows:</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:6pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:77.05%;">Fund
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:6pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.05%;">Purchases
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-top:6pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.53%;">Sales
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:77.05%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Colorado Municipal Income Fund, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:9.05%;">$6,732,142
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1.5pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;width:11.53%;">$7,421,354
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:77.05%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Minnesota Municipal Income Fund II, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:13.30pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.05%;">3,412,250
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:13.30pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.53%;
">3,165,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:77.05%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> National Municipal Income Fund
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:13.30pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:9.05%;">5,494,127
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:13.30pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.53%;
">4,381,623
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">At September 30, 2020, the cost and
unrealized appreciation (depreciation) of investments and derivatives for federal income tax purposes have been estimated since final tax characteristics cannot be determined until fiscal year end. At September 30,
2020, the cost and unrealized appreciation (depreciation) of investments and derivatives for each Fund were as follows:</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:6pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:45.35%;">Fund
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:6pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:11.21%;">Cost of<BR>
investments<BR>
and derivatives
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:11.69%;">Aggregate<BR>
unrealized<BR>
appreciation<BR>
of investments<BR>
and derivatives
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:11.69%;">Aggregate<BR>
unrealized<BR>
depreciation<BR>
of investments<BR>
and derivatives
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-top:6pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:13.69%;">Net unrealized<BR>
appreciation<BR>
of investments<BR>
and derivatives
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:45.35%;">Delaware Investments Colorado Municipal Income Fund, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:11.21%;">$<FONT
style="padding-left:4.80pt;"></FONT>95,587,682
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:11.69%;">$<FONT
style="padding-left:4.80pt;"></FONT>6,080,999
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:11.69%;">$<FONT
style="padding-left:7.20pt;"></FONT>(450,866)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1.5pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;width:13.69%;">$<FONT
style="padding-left:4.80pt;"></FONT>5,630,133
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:45.35%;">Delaware Investments Minnesota Municipal Income Fund II, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:13.30pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:11.21%;">231,130,364
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:13.30pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:11.69%;">12,005,488
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:13.30pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:11.69%;">(1,521,146)
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:13.30pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.69%;
">10,484,342
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:45.35%;">Delaware Investments National Municipal Income Fund
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:18.10pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:11.21%;">88,983,800
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:18.10pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:11.69%;">5,134,678
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:13.30pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:11.69%;">(1,013,886)
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:18.10pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.69%;
">4,120,792
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">US GAAP defines fair value as the
price that each Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. A three-level hierarchy
for fair value measurements has been established based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that
market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources
independent of the reporting entity. Unobservable inputs reflect the reporting entity&#8217;s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the
best information available under the circumstances. Each Fund's investment in its entirety is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-level
hierarchy of inputs is summarized as follows:</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;padding-left:43.7853pt;text-align:left;text-decoration:none;text-indent:-43.7853pt;
text-transform:none;">Level 1 &nbsp;&#8722;&nbsp;Inputs are quoted prices in active markets for identical investments. (Examples: equity securities, open-end investment companies, futures contracts, and
exchange-traded options contracts)</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;padding-left:43.7853pt;text-align:left;text-decoration:none;text-indent:-43.7853pt;
text-transform:none;">Level 2 &nbsp;&#8722;&nbsp;Other observable inputs, including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or
similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds,
loss severities, credit risks, and default rates) or other market-corroborated inputs. (Examples: debt securities, government securities, swap contracts, foreign currency exchange contracts, foreign securities
utilizing international fair value pricing, broker-quoted securities, and fair valued securities)</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;padding-left:43.7853pt;text-align:left;text-decoration:none;text-indent:-43.7853pt;
text-transform:none;">Level 3 &nbsp;&#8722;&nbsp;Significant unobservable inputs, including each Fund's own assumptions used to determine the fair value of investments. (Examples: broker-quoted securities and fair
valued securities)</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Level 3 investments are valued
using significant unobservable inputs. Each Fund may also use an income-based valuation approach in which the anticipated future cash flows of the investment are discounted to calculate fair value. Discounts may also
be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may also be based upon current market prices of securities that are</DIV>
</DIV>
<DIV
style="margin-top:113pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;40</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_NTF-TOC-NotestoFinancialStatements-3514_4">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">comparable in coupon, rating, maturity, and
industry. The derived value of a Level 3 investment may not represent the value which is received upon disposition and this could impact the results of operations.</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:91.95%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="line-height:10pt;padding-bottom:1.5pt;padding-right:12pt;padding-top:6pt;text-align:left;vertical-align:bottom;width:80.0%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:12pt;padding-top:6pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:17.50%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Colorado Municipal Income Fund, Inc.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:12pt;padding-top:1.75pt;text-align:left;vertical-align:bottom;width:80.0%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:12pt;padding-top:1.75pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:17.50%;">Level 2
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:12pt;padding-top:1.75pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:80.0%;">Securities
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-top:1.75pt;text-align:center;vertical-align:bottom;width:17.50%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:12pt;padding-top:1.75pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:80.0%;">Assets:
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-top:1.75pt;text-align:center;vertical-align:bottom;width:17.50%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:12pt;padding-top:1.75pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:80.0%;">Municipal Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:12pt;padding-top:1.75pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;width:17.50%;">$<FONT
style="padding-left:4.80pt;"></FONT>98,942,815
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:12pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:80.0%;">Short-Term Investments
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:26.39pt;padding-top:1.25pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:17.50%;">2,275,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:12pt;padding-top:1.75pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:80.0%;">Total Value of Securities
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:12pt;padding-top:1.75pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.50%;">$101,217,815
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:91.95%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="line-height:10pt;padding-bottom:1.5pt;padding-right:12pt;padding-top:6pt;text-align:left;vertical-align:bottom;width:80.0%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:12pt;padding-top:6pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:17.50%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Minnesota Municipal Income Fund II, Inc.
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:12pt;padding-top:1.75pt;text-align:left;vertical-align:bottom;width:80.0%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:12pt;padding-top:1.75pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:17.50%;">Level 2
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:12pt;padding-top:1.75pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:80.0%;">Securities
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-top:1.75pt;text-align:center;vertical-align:bottom;width:17.50%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:12pt;padding-top:1.75pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:80.0%;">Assets:
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-top:1.75pt;text-align:center;vertical-align:bottom;width:17.50%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:12pt;padding-top:1.75pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:80.0%;">Municipal Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:12pt;padding-top:1.75pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;width:17.50%;">$239,114,706
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:12pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:80.0%;">Short-Term Investments
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:26.39pt;padding-top:1.25pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:17.50%;">2,500,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:12pt;padding-top:1.75pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:80.0%;">Total Value of Securities
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:12pt;padding-top:1.75pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.50%;">$241,614,706
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:91.95%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="line-height:10pt;padding-bottom:1.5pt;padding-right:12pt;padding-top:6pt;text-align:left;vertical-align:bottom;width:80.0%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:12pt;padding-top:6pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:17.50%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> National Municipal Income Fund
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:12pt;padding-top:1.75pt;text-align:left;vertical-align:bottom;width:80.0%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:12pt;padding-top:1.75pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:17.50%;">Level 2
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:12pt;padding-top:1.75pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:80.0%;">Securities
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-top:1.75pt;text-align:center;vertical-align:bottom;width:17.50%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:12pt;padding-top:1.75pt;
text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:80.0%;">Assets:
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-top:1.75pt;text-align:center;vertical-align:bottom;width:17.50%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:12pt;padding-top:1.75pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:80.0%;">Municipal Bonds
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.25pt;padding-left:12pt;padding-top:1.75pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;width:17.50%;">$91,904,591
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:12pt;padding-top:1.25pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:80.0%;">Short-Term Investments
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:21.60pt;padding-top:1.25pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:17.50%;">1,200,000
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:12pt;padding-top:1.75pt;text-align:left;
text-decoration:none;text-transform:none;vertical-align:bottom;width:80.0%;">Total Value of Securities
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:12pt;padding-top:1.75pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.50%;">$93,104,591
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">During the six months ended
September 30, 2020, there were no transfers into or out of Level 3 investments. Each Fund's policy is to recognize transfers into or out of Level 3 investments based on fair value at the beginning of the reporting
period.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:12.5pt;text-align:left;text-decoration:none;text-transform:none;">4.&nbsp;Capital Stock</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Pursuant to their articles of
incorporation, Colorado Municipal Fund and Minnesota Municipal Fund II each have 200 million shares of $0.01 par value common shares authorized. National Municipal Fund has been authorized to issue an unlimited amount
of $0.01 par value common shares. Shares issuable under each Fund&#8217;s dividend reinvestment plan are purchased by each Fund&#8217;s transfer agent, Computershare,</DIV>
</DIV>
<DIV
style="width:13.11%;" type="Block">
<DIV
style="color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:56pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;41</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_NTF-TOC-NotestoFinancialStatements-3514_5">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Notes to financial statements</DIV>
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie Closed-End Municipal Bond Funds &nbsp;</DIV>
</DIV>
<DIV
style="margin-top:4pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:22pt;text-align:left;text-decoration:none;text-transform:none;">4.&nbsp;Capital
Stock&nbsp;(continued)</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">Inc., in the open market. During
the six months ended September 30, 2020 and the year ended March 31, 2020, the Funds did not issue any shares under their dividend reinvestment plan.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">On April 25, 2019, Colorado
Municipal Fund, Minnesota Municipal Fund II, and National Municipal Fund (each, a &#8220;Fund&#8221; and collectively, the &#8220;Funds&#8221;) priced private offerings to a qualified institutional buyer, as defined
pursuant to Rule 144A under the Securities Act of 1933, of approximately $135 million of Muni-MultiMode Preferred Shares, Series 2049 (MMP). Colorado Municipal Fund, Minnesota Municipal Fund II, and National Municipal
Fund issued $30,000,000, $75,000,000 and $30,000,000, respectively, of MMP Shares with a $100,000 liquidation value per share. Each Fund used the net proceeds from each offering to redeem its outstanding Variable Rate
MuniFund Term Preferred Shares, Series 2021 (VMTP). The MMP shares were the same amount and value as the respective Fund&#8217;s VMTP shares.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">The MMP shares are a floating rate
form of preferred stock with a mandatory term redemption. The mandatory term redemption date for these three offerings is April 1, 2049. MMP shares have the option at either the request of the purchaser or issuer to
be converted to a variable rate demand preferred (&#8220;VRDP&#8221;) structure. The converted VRDP shares could then be offered for sale to certain institutional investors. The VRDP could continue to remain
outstanding for the remainder of the MMP shares&#8217; 30-year term. MMP dividends are set weekly at a spread to the Securities Industry and Financial Markets Association Municipal Swap Index. MMP shares represent the
preferred stock of each Fund and are senior, with priority in all respects, to each Fund&#8217;s common shares as to payments of dividends. MMP shares are redeemable at par. A Fund may be obligated to redeem certain
of the MMP shares if the Fund fails to maintain certain asset coverage and leverage ratio requirements and such failures are not cured by the applicable cure date. The redemption price per share is equal to the sum of
the liquidation value per share plus any accumulated but unpaid dividends. Dividends on MMP shares are set weekly, and are based on a short-term index rate plus an additional spread that is subject to adjustment in
certain circumstances, including a change in the credit rating assigned to the MMP shares by Fitch Ratings (&#8220;Fitch&#8221;).</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">The weighted average dividend rates
for the six months ended September 30, 2020 were as follows:</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:55.19%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-right:6pt;padding-top:6pt;text-align:left;vertical-align:bottom;width:85.39%;">&#160;
</TD><TD
style="padding-bottom:1pt;padding-top:6pt;text-align:center;vertical-align:bottom;width:12.53%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:85.39%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Colorado Municipal Income Fund, Inc.
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-top:1pt;text-align:center;text-decoration:none;text-transform:none;
vertical-align:bottom;width:12.53%;">$1.22
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:85.39%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Minnesota Municipal Income Fund II, Inc.
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:4.80pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.53%;">1.22
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:85.39%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> National Municipal Income Fund
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:3pt;padding-left:4.80pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.53%;">1.22
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">The Funds use leverage because
their managers believe that, over time, leveraging may provide opportunities for additional income and total return for common shareholders. However, the use of leverage also can expose common shareholders to
additional volatility. For example, as the prices of securities held by a Fund decline, the negative impact of these valuation changes on common share net asset value and common shareholder total return is magnified
by the use of leverage; accordingly, the use of structural leverage may hurt a Fund&#8217;s overall performance.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Leverage may also cause the Funds
to incur certain costs. In the event that a Fund is unable to meet certain criteria (including, but not limited to, maintaining certain ratings with Fitch and Moody&#8217;s, funding dividend payments, or funding
redemptions), that Fund will pay additional fees with respect to the leverage.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">For financial reporting purposes,
the MMP shares are considered debt of the issuer; therefore, the liquidation value which approximates fair value of the MMP shares is recorded as a liability in the statements of assets and liabilities. Dividends
accrued and paid on the MMP shares are included as a component of interest expense in the statements of operations. The MMP shares are treated as equity for legal and tax purposes. Dividends paid to holders of the MMP
shares are generally classified as tax-exempt income for tax-reporting purposes.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Offering costs for MMP shares are
recorded as a deferred charge and amortized over the 5-year life of the MMP shares. These are presented as &#8220;Offering cost for preferred shareholders&#8221; on the &#8220;Statements of assets and
liabilities&#8221; and &#8220;Offering costs&#8221; on the &#8220;Statements of operations.&#8221;</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:12.5pt;text-align:left;text-decoration:none;text-transform:none;">5.&nbsp;Geographic, Credit, and
Market Risk</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">The Funds concentrate their
investments in securities issued by municipalities. Because each of Colorado Municipal Fund and Minnesota Municipal Fund II invests substantially all of its net assets in municipal obligations of its respective state
at the time of investment, events in that state may have a significant impact on the performance and investments of Colorado Municipal Fund and Minnesota Municipal Fund II. These events may include economic or
political policy changes, tax base erosion, state constitutional limits on tax increases, budget deficits and</DIV>
</DIV>
<DIV
style="margin-top:42pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;42</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
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style="margin-bottom:0pt;">
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<A name="x_NTF-TOC-NotestoFinancialStatements-3514_6">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">other financial difficulties, changes in the
credit ratings assigned to the state&#8217;s municipal issuers, the effects of natural or human-made disasters, or other economic, legislative, or political or social issues. Any downgrade to the credit rating of the
securities issued by the US government may result in a downgrade of securities issued by the states or US territories. National Municipal Fund will be subject to these risks as well but to a lesser extent because it
invests at least 80% of its net assets in securities, the income from which is exempt from federal income tax and is not limited to investing substantially all of its assets in municipal obligations of a single state.
From time to time and consistent with its investment policies, National Municipal Fund may invest a considerable portion of its assets in certain municipalities. As of September 30, 2020, National Municipal Fund has
invested 15.45%, 15.26%, 14.89%, 9.01%, and 8.12% (each as a percentage of net assets) in securities issued by the State of California, the Commonwealth of Pennsylvania, the State of New York, the State of Illinois,
and the State of New Jersey, respectively. These investments could make National Municipal Fund more sensitive to economic conditions in those states than other more geographically diversified national municipal
income funds.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Each Fund may invest a percentage
of assets in obligations of governments of US territories, commonwealths, and possessions such as Puerto Rico, the US Virgin Islands, or Guam. To the extent a Fund invests in such obligations, that Fund may be
adversely affected by local political and economic conditions and developments within these US territories, commonwealths, and possessions.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">In particular, there recently has
been speculation that due to a weak economic outlook, high government debt levels, and credit rating downgrades by S&amp;P and Moody&#8217;s, Puerto Rican debt obligations may be subject to a greater risk of default.
In striving to manage geographic concentration risk for a Fund, DMC carefully monitors the economies of each state, region, and US territory and possession in which the Fund invests or may invest. In general, DMC
believes these economies are broad enough to satisfy a Fund&#8217;s investment needs. However, there is no way to eliminate this risk when investing with a concentration in certain geographic areas.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">From time to time, a fund may
invest in industrial development bonds (IDBs) or pollution control revenue (PCR) bonds that are issued by a conduit authority on behalf of a corporation that is either foreign owned or has international affiliates or
operations. While the bonds may be issued to finance a facility located in the United States, the bonds may be secured by a payment obligation or guaranty of the corporation. To the extent the Fund invests in such
securities, that Fund may be exposed to risks associated with international investments. The risk of international investments not ordinarily associated with US investments includes fluctuation in currency values,
differences in accounting principles, and/or economic or political instability in other nations.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Many municipalities insure
repayment for their obligations. Although bond insurance may reduce the risk of loss due to default by an issuer, such bonds remain subject to the risk that market value may fluctuate for other reasons, and there is
no assurance that the insurance company will meet its obligations. A real or perceived decline in creditworthiness of a bond insurer can have an adverse impact on the value of insured bonds held in each Fund. At
September 30, 2020, the percentages of each Fund&#8217;s net assets insured by insurers are listed below and these securities have been identified on the &#8220;Schedules of investments.&#8221;</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="line-height:10pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:6pt;text-align:left;vertical-align:bottom;width:47.13%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:8.5pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:17.22%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
Colorado Municipal<BR>
Income Fund, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:6pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:17.70%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
Minnesota Municipal<BR>
Income Fund II, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-top:6pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:19.70%;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP><BR>
National Municipal<BR>
Income Fund
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:47.13%;">Assured Guaranty Corporation
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10.80pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">1.65%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:15.29pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:17.70%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:13pt;line-height:13pt;
padding-bottom:1pt;padding-left:15.29pt;padding-top:1.5pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.70%;
">&#8212;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:47.13%;">Assured Guaranty Municipal Corporation
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:10.80pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">7.19%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.70%;">1.18%
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.70%;">1.78%
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:47.13%;">Build America Mutual Assurance
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:10.80pt;padding-right:8.5pt;
padding-top:1pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">1.69%
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:15.29pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:17.70%;">&#8212;
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:10pt;font-size:10pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;
line-height:13pt;line-height:13pt;padding-bottom:1.5pt;padding-left:15.29pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:19.70%;">&#8212;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:47.13%;">Total
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:8.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">10.53%
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-right:8.5pt;
padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.70%;">1.18%
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.70%;">1.78%
</TD></TR></TABLE>
</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Each Fund invests a portion of its
assets in high yield fixed income securities, which are securities rated BB or lower by Standard &amp; Poor&#8217;s (S&amp;P) and/or Ba or lower by Moody&#8217;s, or similarly rated by another nationally recognized
statistical rating organization. Investments in these higher yielding securities are generally accompanied by a greater degree of credit risk than higher rated securities. Additionally, lower rated securities may be
more susceptible to adverse economic and competitive industry conditions than investment grade securities.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">The Funds may invest in advanced
refunded bonds, escrow secured bonds, or defeased bonds. Under current federal tax laws and regulations, state and local government borrowers are permitted to refinance outstanding bonds by issuing new bonds. The
issuer refinances the outstanding debt to either reduce interest costs or to remove or alter restrictive covenants imposed by the bonds being refinanced. A refunding transaction where the municipal securities are
being refunded within 90 days from the issuance of the refunding issue is known as a &#8220;current refunding.&#8221; &#8220;Advance refunded bonds&#8221; are bonds in which the refunded bond issue remains outstanding
for more than 90 days following the issuance of the refunding issue. In an advance refunding, the issuer will use the proceeds of a new bond issue to purchase high-grade</DIV>
</DIV>
<DIV
style="width:13.11%;" type="Block">
<DIV
style="color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:40pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;43</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
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<DIV
style="width:100%;">
<A name="x_NTF-TOC-NotestoFinancialStatements-3514_7">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Notes to financial statements</DIV>
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie Closed-End Municipal Bond Funds &nbsp;</DIV>
</DIV>
<DIV
style="margin-top:4pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:22pt;text-align:left;text-decoration:none;text-transform:none;">5.&nbsp;Geographic, Credit, and
Market Risk&nbsp;(continued)</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">interest-bearing debt securities
which are then deposited in an irrevocable escrow account held by an escrow agent to secure all future payments of principal and interest and bond premium of the advance refunded bond. Bonds are &#8220;escrowed to
maturity&#8221; when the proceeds of the refunding issue are deposited in an escrow account for investment sufficient to pay all of the principal and interest on the original interest payment and maturity dates.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Bonds are considered
&#8220;pre-refunded&#8221; when the refunding issue&#8217;s proceeds are escrowed only until a permitted call date or dates on the refunded issue with the refunded issue being redeemed at the time, including any
required premium. Bonds become &#8220;defeased&#8221; when the rights and interests of the bondholders and of their lien on the pledged revenues or other security under the terms of the bond contract are substituted
with an alternative source of revenues (the escrow securities) sufficient to meet payments of principal and interest to maturity or to the first call dates. Escrowed secured bonds will often receive a rating of AAA
from Moody&#8217;s, S&amp;P, and/or Fitch Ratings due to the strong credit quality of the escrow securities and the irrevocable nature of the escrow deposit agreement.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">To the extent that the Funds invest
in securities with longer duration, they may be more sensitive to fluctuation of interest rates.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Each Fund invests in certain
obligations that may have liquidity protection designed to ensure that the receipt of payments due on the underlying security is timely. Such protection may be provided through guarantees, insurance policies, or
letters of credit obtained by the issuer or sponsor from third parties, through various means of structuring the transaction, or through a combination of such approaches. The Funds will not pay any additional fees for
such credit support, although the existence of credit support may increase the price of a security.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Each Fund may invest up to 15% of
its net assets in illiquid securities, which may include securities with contractual restrictions on resale, securities exempt from registration under Rule 144A promulgated under the Securities Act of 1933, as
amended, and other securities which may not be readily marketable. The relative illiquidity of these securities may impair each Fund from disposing of them in a timely manner and at a fair price when it is necessary
or desirable to do so. While maintaining oversight, the Boards have delegated to DMC the day-to-day functions of determining whether individual securities are liquid for purposes of each Fund&#8217;s limitation on
investments in illiquid securities. Securities eligible for resale pursuant to Rule 144A, which are determined to be liquid, are not subject to each Fund&#8217;s 15% limit on investments in illiquid securities. Rule
144A securities held by each Fund have been identified on the &#8220;Schedules of investments.&#8221;</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:12.5pt;text-align:left;text-decoration:none;text-transform:none;">6.&nbsp;Contractual
Obligations</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Each Fund enters into contracts in
the normal course of business that contain a variety of indemnifications. Each Fund's maximum exposure under these arrangements is unknown. However, each Fund has not had prior claims or losses pursuant to these
contracts. Management has reviewed each Fund's existing contracts and expects the risk of loss to be remote.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:12.5pt;text-align:left;text-decoration:none;text-transform:none;">7.&nbsp;Recent Accounting
Pronouncements</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">In August 2018, FASB issued ASU
2018-13, which changes certain fair value measurement disclosure requirements. ASU 2018-13, in addition to other modifications and additions, removes the requirement to disclose the amount and reasons for transfers
between Level 1 and Level 2 of the fair value hierarchy, the policy for the timing of transfers between levels and the valuation process for Level 3 fair value measurements. ASU 2018-13 is effective for fiscal years,
and interim periods within those fiscal years, beginning after December 15, 2019. Management has implemented ASU 2018-13 on the financial statements.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">In March 2020, FASB issued ASU
2020-04, Reference Rate Reform (Topic 848) &#8211; Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in ASU 2020-04 provide optional temporary financial reporting relief from
the effect of certain types of contract modifications due to the planned discontinuation of LIBOR and other interbank-offered based reference rates as of the end of 2021. ASU 2020-04 is effective for certain reference
rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2022. As of the financial reporting period, Management is evaluating the impact of applying this ASU.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:12.5pt;text-align:left;text-decoration:none;text-transform:none;">8.&nbsp;Subsequent Events</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Management has determined that no
material events or transactions occurred subsequent to September 30, 2020, that would require recognition or disclosure in the Funds&#8217; financial statements.</DIV>
</DIV>
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<DIV
style="color:#000000;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Other Fund information (Unaudited)</DIV>
</DIV>
<DIV
style="margin-top:24pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:12.5pt;text-align:left;text-decoration:none;text-transform:none;">Fund management</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Gregory A. Gizzi<BR>
<FONT
style="font-style:italic;font-weight:Normal;">Managing Director, Head of Municipal Bonds, Senior Portfolio Manager</FONT></DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Gregory A. Gizzi is head of
municipal bonds for Macquarie Investment Management Fixed Income (MFI) in the Americas, a role he assumed in February 2019. In this role, he is responsible for the overall operation of the strategy and is team lead on
several of the tax-exempt strategies. Additionally, Gizzi continues to be responsible for MFI&#8217;s taxable municipal business and the marketing efforts for the municipal product. Previously, Gizzi was co-portfolio
manager of the firm&#8217;s municipal bond funds and several client accounts, a role he held since November 2011. Before joining Macquarie Investment Management in January 2008 as head of municipal bond trading, he
spent six years as a vice president at Lehman Brothers for the firm&#8217;s tax-exempt institutional sales effort. Prior to that, he spent two years trading corporate bonds for UBS before joining Lehman Brothers in a
sales capacity. Gizzi has more than 20 years of trading experience in the municipal securities industry, beginning at Kidder Peabody in 1984, where he started as a municipal bond trader and worked his way up to
institutional block trading desk manager. He later worked in the same capacity at Dillon Read. Gizzi earned his bachelor&#8217;s degree in economics from Harvard University.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Stephen J. Czepiel<BR>
<FONT
style="font-style:italic;font-weight:Normal;">Managing Director, Head of Municipal Bonds Portfolio Management, Senior Portfolio Manager</FONT></DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Stephen J. Czepiel leads the
portfolio management of the firm&#8217;s municipal bonds strategies for Macquarie Investment Management Fixed Income (MFI), a role he assumed in February 2019. He is a co-portfolio manager of the firm&#8217;s
municipal bond funds and client accounts, a role he has held since August 2007. He joined Macquarie Investment Management in July 2004 as a senior bond trader. Previously, he was vice president at both Mesirow
Financial and Loop Capital Markets. He began his career in the securities industry in 1982 as a municipal bond trader at Kidder Peabody and now has more than 20 years of experience in the municipal securities
industry. Czepiel earned his bachelor&#8217;s degree in finance and economics from Duquesne University.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Jake van Roden<BR>
<FONT
style="font-style:italic;font-weight:Normal;">Senior Vice President, Senior Portfolio Manager</FONT></DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Jake van Roden is a member of the
municipal bond department within Macquarie Investment Management Fixed Income (MFI). He is a portfolio manager for MFI&#8217;s nine open-end state-specific municipal bond funds, as well as for several municipal bond
client accounts, a role he assumed in December 2017. In February 2019, his portfolio management role expanded to include MFI's closed-end municipal bond funds and the three national municipal open-end funds. He joined
the municipal department in July 2004 as a generalist and became head of municipal trading in December 2012. Before that, van Roden interned at Macquarie Investment Management in the client services department. He
received a bachelor&#8217;s degree in American studies with a minor in government from Franklin &amp; Marshall College.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:12.5pt;text-align:left;text-decoration:none;text-transform:none;">Board consideration of Investment
Advisory Agreements for Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Colorado Municipal Income Fund, Inc.; Delaware Investments Minnesota Municipal Income Fund II, Inc.; and Delaware
Investments National Municipal Income Fund at a meeting held August 11-13, 2020</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">At a meeting held on August 11-13,
2020 (the &#8220;Annual Meeting&#8221;), the Board of Directors/Trustees (the &#8220;Board&#8221;), including a majority of disinterested or independent Trustees, approved the renewal of the Investment Advisory
Agreements for Delaware Investments Colorado Municipal Income Fund, Inc.; Delaware Investments Minnesota Municipal Income Fund II, Inc.; and Delaware Investments National Municipal Income Fund (each, a
&#8220;Fund&#8221; and together, the &#8220;Funds&#8221;). In making its decision, the Board considered information furnished at regular quarterly Board meetings, including reports detailing Fund performance,
investment strategies, and expenses, as well as information prepared specifically in connection with the renewal of the investment advisory and sub-advisory contracts. Information furnished specifically in connection
with the renewal of the Investment Management Agreement with Delaware Management Company (&#8220;DMC&#8221;), a series of Macquarie Investment Management Business Trust (&#8220;MIMBT&#8221;), included materials
provided by DMC and its affiliates (collectively, &#8220;Macquarie Investment Management&#8221;) concerning, among other things, the nature, extent, and quality of services provided to the Funds; the costs of such
services to the Funds; economies of scale; and the investment manager&#8217;s financial condition and profitability. In addition, in connection with the Annual Meeting, materials were provided to the Trustees in May
2020, including reports provided by Broadridge Financial Solutions (&#8220;Broadridge&#8221;). The Broadridge reports compared each Fund&#8217;s investment performance and expenses with those of other comparable
mutual funds. The Independent Trustees reviewed and discussed</DIV>
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<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Other Fund information (Unaudited)</DIV>
</DIV>
<DIV
style="margin-top:4pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:12.5pt;text-align:left;text-decoration:none;text-transform:none;">Board consideration of Investment
Advisory Agreements for Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Colorado Municipal Income Fund, Inc.; Delaware Investments Minnesota Municipal Income Fund II, Inc.; and Delaware
Investments National Municipal Income Fund at a meeting held August 11-13, 2020 (continued)</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">the Broadridge reports with
independent legal counsel to the Independent Trustees. In addition to the information noted above, the Board also requested and received information regarding DMC&#8217;s policy with respect to advisory fee levels and
its breakpoint philosophy; the structure of portfolio manager compensation; comparative client fee information; and any constraints or limitations on the availability of securities for certain investment styles, which
had in the past year inhibited, or which were likely in the future to inhibit, the investment manager&#8217;s ability to invest fully in accordance with Fund policies.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">In considering information relating
to the approval of each Fund&#8217;s advisory agreement, the Independent Trustees received assistance and advice from and met separately with independent legal counsel to the Independent Trustees and also received
assistance and advice from an experienced and knowledgeable independent fund consultant, JDL Consultants, LLC (&#8220;JDL&#8221;). Although the Board gave attention to all information furnished, the following
discussion identifies, under separate headings, the primary factors taken into account by the Board during its contract renewal considerations.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Nature, extent, and quality of
services.<FONT
style="font-weight:Normal;"> The Board considered the services provided by DMC to the Funds and their shareholders. In reviewing the nature, extent, and quality of services, the Board considered reports furnished to
it throughout the year, which covered matters such as the relative performance of each Fund; compliance of portfolio managers with the investment policies, strategies, and restrictions for the Funds; compliance by DMC
(&#8220;Management&#8221;) personnel with the Code of Ethics adopted throughout the Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie (&#8220;Delaware Funds&#8221;); and adherence to fair value pricing procedures as established by the
Board. The Board was pleased with the current staffing of DMC and the emphasis placed on research in the investment process. The Board recognized DMC&#8217;s receipt of certain favorable industry distinctions during
the past several years. The Board gave favorable consideration to DMC&#8217;s efforts to control expenses while maintaining service levels committed to Fund matters. The Board was satisfied with the nature, extent,
and quality of the overall services provided by DMC.</FONT></DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Investment performance.<FONT
style="font-weight:Normal;"> The Board placed significant emphasis on the investment performance of the Funds in view of the importance of investment performance to shareholders. Although the Board considered
performance reports and discussions with portfolio managers at Board meetings throughout the year, the Board gave particular weight to the Broadridge reports furnished for the Annual Meeting. The Broadridge reports
prepared for each Fund showed the investment performance of its shares in comparison to a group of similar funds as selected by Broadridge (the &#8220;Performance Universe&#8221;). A fund with the highest performance
ranked first, and a fund with the lowest ranked last. The highest/best performing 25% of funds in the Performance Universe make up the first quartile; the next 25%, the second quartile; the next 25%, the third quartile;
 and the lowest/worst performing 25% of funds in the Performance Universe make up the fourth quartile. Comparative annualized performance for the Fund was shown for the past 1-, 3-, 5-, and 10-year periods, to the
extent applicable, ended January 31, 2020. The Board&#8217;s objective is that each Fund&#8217;s performance for the 1-, 3-, and 5-year periods be at or above the median of its Performance Universe.</FONT></DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments Colorado
Municipal Income Fund, Inc. &#8211; The Performance Universe for the Fund consisted of the Fund and all leveraged closed-end &#8220;other states&#8221; municipal debt funds as selected by Broadridge. The Broadridge
report comparison showed that the Fund&#8217;s total return for the 1-year period was in the fourth quartile of its Performance Universe. The report further showed that the Fund&#8217;s total return for the 3-, 5-,
and 10-year periods was in the third quartile of its Performance Universe. The Board observed that the Fund&#8217;s performance results were not in line with the Board&#8217;s objective. In evaluating the Fund&#8217;s
performance, the Board considered the performance attribution included in the meeting materials, as well as the numerous investment and performance reports delivered by Management personnel to the Board&#8217;s
Investments Committee. The Board was satisfied that Management was taking action to improve comparative Fund performance and to meet the Board&#8217;s performance objective.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments Minnesota
Municipal Income Fund II, Inc. &#8211; The Performance Universe for the Fund consisted of the Fund and all leveraged closed-end &#8220;other states&#8221; municipal debt funds as selected by Broadridge. The Broadridge
report comparison showed that the Fund&#8217;s total return for the 1-, 3-, 5-, and 10-year periods was in the fourth quartile of its Performance Universe. The Fund&#8217;s performance results were not in line with
the Board&#8217;s objective. In evaluating the Fund&#8217;s performance, the Board considered the numerous investment and performance reports delivered by Management personnel to the Board&#8217;s Investments
Committee. The Board was satisfied that Management was taking action to improve comparative Fund performance and meet the Board&#8217;s performance objective.</DIV>
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style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> National Municipal Income Fund &#8211; The Performance Universe for the Fund consisted of the Fund and all leveraged
closed-end general and insured municipal debt funds as selected by Broadridge. The Broadridge report comparison showed that the Fund&#8217;s total return for the 1-, 3-, and 5-year periods was in the third quartile of
its Performance Universe. The report further showed that the Fund&#8217;s total return for the 10-year period was in fourth quartile of its Performance Universe. The Fund&#8217;s performance results were not in line
with the Board&#8217;s objective. In evaluating the Fund&#8217;s performance, the Board considered the numerous investment and performance reports delivered by Management personnel to the Board&#8217;s Investments
Committee. The Board was satisfied that Management was taking action to improve comparative Fund performance and meet the Board&#8217;s performance objective.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Comparative expenses.<FONT
style="font-weight:Normal;"> The Board considered expense data for the Delaware Funds. Management provided the Board with information on pricing levels and fee structures for each Fund as of its most recently
completed fiscal year. The Board also focused on the comparative analysis of effective management fees and total expense ratios of each Fund versus effective management fees and expense ratios of a group of similar
closed-end funds as selected by Broadridge (the &#8220;Expense Group&#8221;). In reviewing comparative costs, each Fund&#8217;s contractual management fee and the actual management fee incurred by the Fund were
compared with the contractual management fees (assuming all funds in the Expense Group were similar in size to the Fund) and actual management fees (as reported by each fund) within the Expense Group, taking into
account any applicable breakpoints and fee waivers. Each Fund&#8217;s total expenses were also compared with those of its Expense Group. The Board&#8217;s objective is for each Fund&#8217;s total expense ratio to be
competitive with those of the peer funds within its Expense Group.</FONT></DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments Colorado
Municipal Income Fund, Inc. &#8211; The expense comparisons for the Fund showed that its actual management fee and total expenses were in the quartile with the lowest expenses of its Expense Group. The Board was
satisfied with the management fee of the Fund in comparison to those of its Expense Group.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Investments National
Municipal Income Fund &#8211; The expense comparisons for the Fund showed that its actual management fee was in the quartile with the second lowest expenses of its Expense Group and its total expenses were in the
quartile with the lowest expenses of its Expense Group. The Board was satisfied with the management fee and total expenses of the Fund in comparison to those of its Expense Group.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Management profitability.<FONT
style="font-weight:Normal;"> The Board considered the level of profits, if any, realized by DMC in connection with the operation of the Funds. In this respect, the Board reviewed the Investment Management
Profitability Analysis that addressed the overall profitability of DMC&#8217;s business in providing management and other services to each of the individual funds and the Delaware Funds as a whole. Specific attention
was given to the methodology used by DMC in allocating costs for the purpose of determining profitability. Management stated that the level of profits of DMC, to a certain extent, reflects recent operational cost
savings and efficiencies initiated by DMC. The Board considered DMC&#8217;s efforts to improve services provided to Fund shareholders and to meet additional regulatory and compliance requirements resulting from recent
industry-wide Securities and Exchange Commission initiatives. The Board also considered the extent to which DMC might derive ancillary benefits from fund operations, including the potential for procuring additional
business as a result of the prestige and visibility associated with its role as service provider to the Delaware Funds and the benefits from allocation of fund brokerage to improve trading efficiencies. As part of its
work, the Board also reviewed a report prepared by JDL regarding MIMBT profitability as compared to certain peer fund complexes and the Independent Directors discussed with JDL personnel regarding DMC&#8217;s
profitability in such context. The Board found that the management fees were reasonable in light of the services rendered and the profitability of DMC.</FONT></DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Economies of scale.<FONT
style="font-weight:Normal;"> As closed-end funds, the Funds do not issue shares on a continuous basis. Fund assets, therefore, increase primarily as a result of the increase in value of the underlying securities in
the Fund. Accordingly, the Board determined that the Funds were not likely to experience significant economies of scale due to asset growth and, therefore, a fee schedule with breakpoints to pass the benefit of
economies of scale on to shareholders was not likely to provide the intended effect.</FONT></DIV>
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style="width:100%;" type="Block">
<DIV
style="color:#D4D4D4;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">Other Fund information (Unaudited)</DIV>
</DIV>
<DIV
style="margin-top:4pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Proxy results</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">At the annual meeting on September
18, 2020, the shareholders of the Funds voted to elect a Board of Directors/Trustees. A quorum was present and the votes passed with a majority of those shares. All shareholders of each Fund vote together with respect
to the election of each Director/Trustee with one exception. The holders of preferred shares of the Funds that have issued one or more classes of preferred shares have the exclusive right to separately elect two
Directors/Trustees, Ms. Borowiec and Mr. Chow.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">The results of the voting at the
meeting were as follows:</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:94.70%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:6pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:top;width:77.06%;" colspan="6">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Colorado Municipal Income Fund, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:6pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:6pt;text-align:center;vertical-align:bottom;width:19.22%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:98.28%;" colspan="8">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:6pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:25.49%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;width:34.14%;" colspan="3">Common shareholders
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;text-transform:none;
vertical-align:bottom;width:36.65%;" colspan="3">Preferred shareholders
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:25.49%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:14.92%;">Shares voted for
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:17.22%;">Shares voted<BR>
withheld authority
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:15.43%;">Shares voted for
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:19.22%;">Shares voted<BR>
withheld authority
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Jerome Abernathy
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,601,493
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">195,152
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1.5pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Thomas L. Bennett
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,573,907
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">222,738
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">John A. Fry
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,585,214
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">211,431
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Lucinda S. Landreth
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,533,923
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">262,722
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Shawn K. Lytle
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,593,830
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">202,815
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Frances A. Sevilla-Sacasa
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,550,056
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">246,589
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Thomas K. Whitford
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,598,000
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">198,645
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Christianna Wood
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,545,230
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">251,415
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Janet L. Yeomans
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,530,430
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">266,215
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Ann D. Borowiec
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:14.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:17.22%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Joseph W. Chow
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:14.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:17.22%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR></TABLE>
</DIV>
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:94.70%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:6pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:77.06%;" colspan="6">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> Minnesota Municipal Income Fund II, Inc.
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:6pt;text-align:left;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-top:6pt;text-align:center;vertical-align:bottom;width:19.22%;">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:98.28%;" colspan="8">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:25.49%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:34.14%;" colspan="3">Common shareholders
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:36.65%;" colspan="3">Preferred shareholders
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:25.49%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:8.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:14.92%;">Shares voted for
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:17.22%;">Shares voted<BR>
withheld authority
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:15.43%;">Shares voted for
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:19.22%;">Shares voted<BR>
withheld authority
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Jerome Abernathy
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">8,420,193
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">644,808
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">750
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1.5pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Thomas L. Bennett
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">8,409,291
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">655,710
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">750
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">John A. Fry
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">8,422,981
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">642,020
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">750
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Lucinda S. Landreth
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">8,420,519
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">644,482
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">750
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Shawn K. Lytle
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">8,418,662
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">646,339
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">750
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Frances A. Sevilla-Sacasa
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">8,426,125
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">638,876
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">750
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Thomas K. Whitford
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">8,422,588
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">642,413
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">750
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Christianna Wood
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">8,436,878
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">628,123
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">750
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Janet L. Yeomans
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">8,407,444
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">657,557
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">750
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Ann D. Borowiec
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:14.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:17.22%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">750
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Joseph W. Chow
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:14.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:17.22%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">750
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="margin-top:186pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;48</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_OFIC-TOC-OtherFundInformation-3510_5">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="text-align:left;">
<TABLE
style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:94.70%;" cellpadding="0" cellspacing="0">
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-top:6pt;text-align:left;text-decoration:none;text-transform:none;
vertical-align:bottom;width:98.28%;" colspan="8">Delaware Investments<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> National Municipal Income Fund
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="padding-bottom:1pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:98.28%;" colspan="8">&#160;
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1pt;text-align:left;vertical-align:bottom;width:25.49%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:34.14%;" colspan="3">Common shareholders
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:36.65%;" colspan="3">Preferred shareholders
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.5pt;text-align:left;vertical-align:bottom;width:25.49%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:8.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:14.92%;">Shares voted for
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:17.22%;">Shares voted<BR>
withheld authority
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;
text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:15.43%;">Shares voted for
</TD><TD
style="line-height:0pt;padding-bottom:1.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;padding-bottom:1.5pt;padding-left:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;width:19.22%;">Shares voted<BR>
withheld authority
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1.5pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Jerome Abernathy
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,900,721
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">89,261
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1.5pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Thomas L. Bennett
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,930,770
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">59,212
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">John A. Fry
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,930,183
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">59,799
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Lucinda S. Landreth
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,890,958
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">99,024
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Shawn K. Lytle
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,932,075
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">57,907
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Frances A. Sevilla-Sacasa
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,902,214
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">87,768
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Thomas K. Whitford
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,932,665
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">57,317
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Christianna Wood
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,894,032
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">95,950
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Janet L. Yeomans
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:6pt;padding-right:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.92%;">3,892,597
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:17.22%;">97,385
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Ann D. Borowiec
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:14.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:17.22%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:1pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:1pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR>
<TR
style="page-break-inside:avoid;"><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:0pt;padding-right:6pt;padding-top:1pt;text-align:left;text-decoration:none;
text-transform:none;vertical-align:bottom;width:25.49%;">Joseph W. Chow
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:14.92%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:17.22%;">&#160;
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.5pt;padding-right:8.5pt;padding-top:1pt;text-align:center;
text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.43%;">300
</TD><TD
style="line-height:0pt;padding-bottom:3pt;padding-right:8.5pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160;
</TD><TD
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;padding-bottom:3pt;padding-left:8.5pt;padding-top:1pt;text-align:center;text-decoration:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.22%;">0
</TD></TR></TABLE>
</DIV>
</DIV>
<DIV
style="width:13.11%;" type="Block">
<DIV
style="color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:457pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;49</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
<HR
style="margin-bottom:0pt;">
<!--PAGE BREAK-->
<DIV
style="width:100%;">
<A name="x_ATO-TOC-Abouttheorganization-3514_1">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:24pt;font-style:Normal;font-weight:Normal;line-height:27pt;text-align:left;text-decoration:none;text-transform:none;">About the organization</DIV>
</DIV>
<DIV
style="margin-top:24pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">This semiannual report is for the
information of Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie Closed-End Municipal Bond Funds shareholders.</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;margin-top:14pt;width:100%;">
</DIV>
<DIV
style="float:left;overflow:hidden;position:relative;width:33%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Board of directors/trustees</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Shawn K. Lytle</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">President and<BR>
Chief Executive Officer<BR>
Delaware Funds by Macquarie<BR>
Philadelphia, PA</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Jerome D. Abernathy</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Managing Member<BR>
Stonebrook Capital Management, LLC<BR>
Jersey City, NJ</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Thomas L. Bennett</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Chairman of the Board<BR>
Delaware Funds by Macquarie<BR>
Private Investor<BR>
Rosemont, PA</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Ann D. Borowiec</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Former Chief Executive Officer<BR>
Private Wealth Management<BR>
J.P. Morgan Chase &amp; Co.<BR>
New York, NY</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Joseph W. Chow</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Former Executive Vice President<BR>
State Street Corporation<BR>
Boston, MA</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">John A. Fry</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">President<BR>
Drexel University<BR>
Philadelphia, PA</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Lucinda S. Landreth</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Former Chief Investment Officer<BR>
Assurant, Inc.<BR>
New York, NY</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Frances A. Sevilla-Sacasa</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Former Chief Executive Officer<BR>
Banco Ita&#250; International<BR>
Miami, FL</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Thomas K. Whitford</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Former Vice Chairman<BR>
PNC Financial Services Group<BR>
Pittsburgh, PA</DIV>
</DIV>
<DIV
style="float:left;margin-left:3.5%;overflow:hidden;position:relative;width:27%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Christianna Wood</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Chief Executive Officer and President<BR>
Gore Creek Capital, Ltd.<BR>
Golden, CO</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Janet L. Yeomans</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Former Vice President and Treasurer<BR>
3M Company<BR>
St. Paul, MN</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">Affiliated officers</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">David F. Connor</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Senior Vice President,<BR>
General Counsel, and Secretary<BR>
Delaware Funds by Macquarie<BR>
Philadelphia, PA</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Daniel V. Geatens</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Vice President and Treasurer<BR>
Delaware Funds by Macquarie<BR>
Philadelphia, PA</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Richard Salus</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Senior Vice President and<BR>
Chief Financial Officer<BR>
Delaware Funds by Macquarie<BR>
Philadelphia, PA</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Investment manager</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Management Company, a series<BR>
of Macquarie Investment Management<BR>
Business Trust (MIMBT)<BR>
Philadelphia, PA</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Principal office of the Fund</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">610 Market Street<BR>
Philadelphia, PA 19106-2354</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Independent registered public<BR>
accounting firm</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">PricewaterhouseCoopers LLP<BR>
Two Commerce Square<BR>
Suite 1800<BR>
2001 Market Street<BR>
Philadelphia, PA 19103-7042</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Registrar and stock transfer agent</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Computershare, Inc.<BR>
480 Washington Blvd.<BR>
Jersey City, NJ 07310<BR>
866 437-0252<BR>
computershare.com/investor</DIV>
</DIV>
<DIV
style="float:right;overflow:hidden;position:relative;width:27%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">For securities dealers and
financial<BR>
institutions representatives</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">800 362-7500</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Website</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">delawarefunds.com/closed-end</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Number of recordholders as of<BR>
<FONT
style="font-weight:Normal;">September 30, 2020</FONT></DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Colorado Municipal Fund
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50<BR>
Minnesota Municipal Fund II &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268<BR>
National Municipal Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Your reinvestment options</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Each of the Funds offers an automatic dividend
reinvestment program. If you would like to reinvest dividends, and shares are registered in your name, contact Computershare, Inc. at 866 437-0252. You will be asked to put your request in writing. If you have shares
registered in &#8220;street&#8221; name, contact the broker/dealer holding the shares or your financial advisor. If you choose to receive your dividends in cash, you may now elect to receive them by ACH transfer.
Contact Computershare at the number above for more information.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:5pt;text-align:left;text-decoration:none;text-transform:none;">Each Fund files its complete
schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-PORT. Each Fund&#8217;s Forms N-PORT, as well as a description of the
policies and procedures that the Funds use to determine how to vote proxies (if any) relating to portfolio securities, are available without charge (i) upon request, by calling 866 437-0252; and (ii) on the
SEC&#8217;s website at sec.gov. In addition, a description of the policies and procedures that the Funds use to determine how to vote proxies (if any) relating to portfolio securities and the Schedules of Investments
included in the Funds&#8217; most recent Forms N-PORT are available without charge on the Funds&#8217; website at delawarefunds.com/closed-end. Each Fund&#8217;s Forms N-PORT may be reviewed and copied at the
SEC&#8217;s Public Reference Room in Washington, D.C.; information on the operation of the Public Reference Room may be obtained by calling 800 SEC-0330.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:5pt;text-align:left;text-decoration:none;text-transform:none;">Information (if any) regarding how
each Fund voted proxies relating to portfolio securities during the most recently disclosed 12-month period ended June 30 is available without charge (i) through the Funds&#8217; website at delawarefunds.com/proxy;
and (ii) on the SEC&#8217;s website at sec.gov.</DIV>
</DIV>
<DIV
style="clear:both;">
<DIV
style="clear:both;width:13.11%;" type="Block">
<DIV
style="clear:both;color:#B2B2B2;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:179pt;text-align:left;text-decoration:none;text-transform:none;">50&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>
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<A name="x_PPC-MacquarieLogo_1">
</A>
<DIV
style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;">
<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:18pt;font-style:Normal;font-weight:Normal;line-height:21pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie privacy practices notice</DIV>
</DIV>
<DIV
style="margin-top:1pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">We are committed to protecting the
privacy of our potential, current, and former customers. To provide the products and services you request, we must collect personal information about you. <FONT
style="font-weight:bold;">We do not sell your personal information to third parties.</FONT> We collect your personal information and share it with third parties as necessary to provide you with the products or
services you request and to administer your business with us. This notice describes our current privacy practices. While your relationship with us continues, we will update and send our privacy practices notice as
required by law. We are committed to continuing to protect your personal information even after that relationship ends.<BR>
<FONT
style="font-weight:bold;">You do not need to take any action because of this notice.</FONT></DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:bold;line-height:14pt;margin-top:13pt;text-align:left;text-decoration:none;text-transform:none;">Information we may collect and
use</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">We collect personal information
about you to help us identify you as our potential, current, or former customer; to process your requests and transactions; to offer investment services to you; or to tell you about our products or services we believe
you may want to use. The type of personal information we collect depends on the products or services you request and may include the following:</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;padding-left:16.8405pt;text-align:left;text-decoration:none;text-indent:-16.8405pt;
text-transform:none;">&#8226;&nbsp;&nbsp;&nbsp;&nbsp;<FONT
style="font-weight:bold;">Information from you:</FONT> When you submit your application or other forms or request information on our products (online or otherwise), you give us information such as your name, address,
Social Security number, and your financial history.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;padding-left:16.8405pt;text-align:left;text-decoration:none;text-indent:-16.8405pt;
text-transform:none;">&#8226;&nbsp;&nbsp;&nbsp;&nbsp;<FONT
style="font-weight:bold;">Information about your transactions:</FONT> We keep information about your transactions with us, such as the products you buy from us; the amount you paid for those products; your investment
activity; and your account balances.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;padding-left:16.8405pt;text-align:left;text-decoration:none;text-indent:-16.8405pt;
text-transform:none;">&#8226;&nbsp;&nbsp;&nbsp;&nbsp;<FONT
style="font-weight:bold;">Information from your employer:</FONT> In connection with administering your retirement plan, we may obtain information about you from your employer.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;padding-left:16.8405pt;text-align:left;text-decoration:none;text-indent:-16.8405pt;
text-transform:none;">&#8226;&nbsp;&nbsp;&nbsp;&nbsp;<FONT
style="font-weight:bold;">Information received from third parties:</FONT> In order to verify your identity or to prevent fraud, we may obtain information about you from third parties.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:bold;line-height:14pt;margin-top:13pt;text-align:left;text-decoration:none;text-transform:none;">How we use your personal
information</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">We do not disclose nonpublic
personal information about our potential, current, and former customers unless allowed or required by law. We may share your personal information within our companies and with certain service providers. They use this
information to process transactions you have requested; provide customer service; and inform you of products or services we offer that you may find useful. Our service providers may or may not be affiliated with us.
They include financial service providers (for example, third-party administrators; broker/dealers; and other financial services companies with whom we have joint marketing agreements). Our service providers also
include nonfinancial companies and individuals (for example, consultants; information services vendors; and companies that perform mailing or marketing services on our behalf). Information obtained from a report
prepared by a service provider may be kept by the service provider and shared with other persons; however, we require our service providers to protect your personal information and to use or disclose it only for the
work they are performing for us, or as permitted by law.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">We also may provide information to
regulatory authorities, law enforcement officials, and others to prevent fraud or when we believe in good faith that the law requires disclosure. In the event of a sale of all or part of our businesses, we may share
customer information as part of the sale. We do not sell or share your information with outside marketers who may want to offer you their own products and services.</DIV>
</DIV>
<DIV
style="margin-top:199pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;margin-top:194pt;text-align:right;text-decoration:none;text-transform:none;">This page is not part of the
semiannual report.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT
style="font-size:10pt;line-height:13pt;">i</FONT></DIV>
</DIV>
</DIV>
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style="clear:both;font-size:12pt;height:0pt;">
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<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#B2B2B2;font-family:Arial;font-size:18pt;font-style:Normal;font-weight:Normal;line-height:21pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie privacy practices notice</DIV>
</DIV>
<DIV
style="margin-top:2pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:bold;line-height:14pt;margin-top:13pt;text-align:left;text-decoration:none;text-transform:none;">Security of information</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Keeping your information safe is
one of our most important responsibilities. We maintain physical, electronic, and procedural safeguards to protect your information. Our employees are authorized to access your information only when they need it to
provide you with products and services or to maintain your accounts. Employees who have access to your personal information are required to keep it strictly confidential. We provide training to our employees about the
importance of protecting the privacy of your information.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Macquarie Investment Management
(MIM) is the marketing name for certain companies comprising the asset management division of Macquarie Group Limited and its subsidiaries and affiliates worldwide.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Other than Macquarie Bank Limited
(MBL), none of the entities noted are authorized deposit-taking institutions for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not represent deposits or other
liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities, unless noted otherwise.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:bold;line-height:14pt;margin-top:13pt;text-align:left;text-decoration:none;text-transform:none;">This privacy practices notice is
being provided on behalf of the following:</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">Delaware Funds<SUP
style="font-size:6pt;font-style:Normal;text-transform:none;vertical-align:top;position:relative;top:-0.5em;">&#174;</SUP> by Macquarie<BR>
Delaware Investments Fund Services Company<BR>
Delaware Management Company</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">Revised February 2020</DIV>
</DIV>
<DIV
style="margin-top:425pt;width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">ii&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT
style="font-size:7pt;line-height:10pt;">This page is not part of the semiannual report.</FONT></DIV>
</DIV>
</DIV>
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style="clear:both;font-size:12pt;height:0pt;">
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<A href="#JOB_DI_-__ba24faa9-1e08-4cd7-bf43-4ba5164839f1_TOC_AltSty1">
Table of Contents
</A>
</DIV>
<DIV
style="width:100%;" type="Block">
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">Macquarie Asset Management (MAM)
offers a diverse range of products including securities investment management, infrastructure and real asset management, and fund and equity-based structured products. Macquarie Investment Management (MIM) is the
marketing name for certain companies comprising the asset management division of Macquarie Group. This includes the following investment advisors: Macquarie Investment Management Business Trust (MIMBT), Macquarie
Funds Management Hong Kong Limited, Macquarie Investment Management Austria Kapitalanlage AG, Macquarie Investment Management Global Limited, Macquarie Investment Management Europe Limited, and Macquarie Investment
Management Europe S.A. For more information, including press releases, please visit delawarefunds.com/closed-end.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">Other than MBL, none of the
entities noted are authorized deposit-taking institutions for the purposes of the Banking Act 1959<BR>
(Commonwealth of Australia). The obligations of these entities do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of these
entities, unless noted otherwise.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">The Funds are governed by US laws
and regulations.</DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">(1396243)<BR>
<FONT
style="font-weight:bold;">SA-CEMUNI-1120</FONT></DIV>
<DIV
style="color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">iv This page is not part of the
semiannual report.</DIV>
</DIV>
</DIV>
<DIV
style="clear:both;font-size:12pt;height:0pt;">
</DIV>

<BR>


<!-- END of REPORT -->
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<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Item 2. Code of Ethics</FONT></P>
<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">Not applicable.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Item 3. Audit Committee Financial Expert</FONT></P>
<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">Not applicable.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Item 4. Principal Accountant Fees and Services</FONT></P>
<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">Not applicable.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Item 5. Audit Committee of Listed Registrants</FONT></P>
<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">Not applicable.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Item 6. Investments</FONT></P>
<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">(a) Included as part of report to shareholders filed under Item 1 of this Form N-CSR.</FONT></P>
<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">(b) Divestment of securities in accordance with Section 13(c) of the Investment Company Act of 1940.</FONT></P>
<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">Not applicable.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies</FONT></P>
<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">Not applicable.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Item 8. Portfolio Managers of Closed-End Management Investment Companies</FONT></P>
<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">Not applicable.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Item 9. Purchases of Equity Securities by Closed-End Management Investment Companies and Affiliated Purchasers</FONT></P>
<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">Not applicable.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Item 10. Submission of Matters to a Vote of Security Holders</FONT></P>
<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">Not applicable.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Item 11. Controls and Procedures</FONT></P>
<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">The registrant&#8217;s principal executive officer and principal financial officer have evaluated the registrant&#8217;s disclosure controls and procedures within 90 days of the filing of this report and have concluded that they are effective in providing reasonable assurance that the information required to be disclosed by the registrant in its reports or statements filed under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission.</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">There were no significant changes in the
registrant&rsquo;s internal control over financial reporting that occurred during the period covered by the report to
stockholders included herein that have materially affected, or are reasonably likely to materially affect, the registrant&rsquo;s
internal control over financial reporting.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.</FONT></P>
<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">Not applicable.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Item 13. Exhibits</FONT></P>
<TABLE style="BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">(a)&nbsp;</FONT></TD>
   <TD vAlign=top width="99%" align=left><FONT size=2 face="Times New Roman">(1) Code of Ethics</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="99%" align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" vAlign=top width="1%" noWrap align=right><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="99%" align=left><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=right><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="99%" align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="99%" align=left><A HREF="diinmif3826701-ex99cert.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">(2) Certifications of Principal Executive Officer and Principal Financial Officer pursuant to Rule 30a-2 under the Investment Company Act of 1940 are attached hereto as Exhibit 99.CERT.</FONT></A></TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="99%" align=left><FONT size=2 face="Times New Roman">(3) Written solicitations to purchase securities pursuant to Rule 23c-1 under the Securities Exchange Act of 1934.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" vAlign=top width="1%" noWrap align=right><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="99%" align=left><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=right><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="99%" align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" vAlign=top width="1%" noWrap align=left><A HREF="diinmif3826701-ex99906cert.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">(b)&nbsp;&nbsp;</FONT></A></TD>
   <TD vAlign=top width="99%" align=left><A HREF="diinmif3826701-ex99906cert.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 are furnished herewith as Exhibit 99.906CERT.</FONT></A></TD></TR></TABLE>
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<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">SIGNATURES</FONT></B></P>
<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf, by the undersigned, thereunto duly authorized.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman"><BR>DELAWARE INVESTMENTS NATIONAL MUNICIPAL INCOME FUND
</FONT></B></P><BR>
<TABLE style="WIDTH: 10%; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 border=0>

<TR vAlign=bottom>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="100%" colSpan=2 noWrap align=left><FONT size=2 face="Times New Roman"></FONT><FONT size=2 face="Times New Roman">/s/SHAWN K. LYTLE</FONT></TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" width="1%" noWrap align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">Shawn K. Lytle</FONT></TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" width="1%" noWrap align=left><FONT size=2 face="Times New Roman">Title:&nbsp;</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">President and Chief Executive Officer</FONT></TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" width="1%" noWrap align=left><FONT size=2 face="Times New Roman">Date:</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">December 3, 2020</FONT></TD></TR></TABLE>

<P STYLE="text-align: left; text-indent: 15pt"><FONT size=2 face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.</FONT></P><BR>
<TABLE style="WIDTH: 10%; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 border=0>

<TR vAlign=bottom>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="100%" colSpan=2 noWrap align=left><FONT size=2 face="Times New Roman">/s/SHAWN K. LYTLE</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">Shawn K. Lytle</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">Title:&nbsp;</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">President and Chief Executive Officer</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">Date:</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">December 3, 2020</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=2>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="100%" colSpan=2 noWrap align=left><FONT size=2 face="Times New Roman">/s/RICHARD SALUS</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">Richard Salus</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">Title:</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">Chief Financial Officer</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">Date:</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">December 3, 2020</FONT></TD></TR></TABLE>

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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>diinmif3826701-ex99cert.htm
<DESCRIPTION>CERTIFICATION
<TEXT>

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<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">EXHIBIT 99.CERT</FONT></B></P>
<P style="TEXT-ALIGN: center"><B><U><FONT size=2 face="Times New Roman">CERTIFICATION</FONT></U></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">I, Shawn K. Lytle, certify that:</FONT></P>
<TABLE style="BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD STYLE="vertical-align: bottom; width: 2%; white-space: nowrap; padding-right: 15pt; text-align: left"><FONT size=2 face="Times New Roman">1.</FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left><FONT size=2 face="Times New Roman">I have reviewed this report on Form N-CSR of Delaware Investments National Municipal Income Fund;</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman">2.</FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left><FONT size=2 face="Times New Roman">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD vAlign=top width="98%" colSpan=2 align=right>
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman">3.</FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left><FONT size=2 face="Times New Roman">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;</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman">4.</FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left><FONT size=2 face="Times New Roman">The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left><FONT size=2 face="Times New Roman">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left><FONT size=2 face="Times New Roman">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(c)</FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left><FONT size=2 face="Times New Roman">evaluated the effectiveness of the registrant's disclosure controls and
   procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as
   of a date within 90 days prior to the filing date of this report based on such evaluation; and</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(d)</FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left><FONT size=2 face="Times New Roman">disclosed in this report any change in the registrant&#8217;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&#8217;s internal control over financial reporting; and</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman">5.</FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left><FONT size=2 face="Times New Roman">The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt; padding-left: 15pt">
   <P align=left><FONT size=2 face="Times New Roman"></FONT></P></TD>
   <TD vAlign=top width="96%">&nbsp;</TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD vAlign=top width="96%">
   <P><FONT size=2 face="Times New Roman">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="96%">&nbsp;</TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD vAlign=top width="96%"><P><FONT size=2 face="Times New Roman">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</FONT></P></TD></TR></TABLE><BR><BR>
<TABLE style="WIDTH: 10%; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 border=0>

<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" width="100%" colSpan=2 noWrap align=left><FONT size=2 face="Times New Roman"></FONT><FONT size=2 face="Times New Roman">Date: December 3, 2020</FONT></TD></TR>
<TR>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" width="1%"></TD>
   <TD width="99%">&nbsp; </TD></TR>
<TR>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" width="1%"></TD>
   <TD width="99%">&nbsp; </TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: medium none" width="100%" colSpan=2 noWrap align=left><FONT size=2 face="Times New Roman"></FONT><FONT size=2 face="Times New Roman">/s/SHAWN K. LYTLE</FONT></TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" width="1%" noWrap align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">By:</FONT></FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">Shawn K. Lytle</FONT></TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" width="1%" noWrap align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">Title:</FONT>&nbsp;</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">President and Chief Executive Officer</FONT></TD></TR></TABLE><BR>
<HR align=center SIZE=2 width="100%" noShade>

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


<P style="TEXT-ALIGN: center"><B><U><FONT size=2 face="Times New Roman">CERTIFICATION</FONT></U></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">I, Richard Salus, certify that:</FONT></P>
<TABLE style="BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD STYLE="vertical-align: bottom; width: 2%; white-space: nowrap; padding-right: 15pt; text-align: left"><FONT size=2 face="Times New Roman">1.</FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left><FONT size=2 face="Times New Roman">I have reviewed this report on Form N-CSR of Delaware Investments National Municipal Income Fund;</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman">2.</FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left><FONT size=2 face="Times New Roman">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD vAlign=top width="98%" colSpan=2 align=right>
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman">3.</FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left><FONT size=2 face="Times New Roman">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;</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman">4.</FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left><FONT size=2 face="Times New Roman">The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left><FONT size=2 face="Times New Roman">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left><FONT size=2 face="Times New Roman">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(c)</FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left><FONT size=2 face="Times New Roman">evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(d)</FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left><FONT size=2 face="Times New Roman">disclosed in this report any change in the registrant&#8217;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&#8217;s internal control over financial reporting; and</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="96%">
   <P align=left>&nbsp;</P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman">5.</FONT></TD>
   <TD vAlign=top width="98%" colSpan=2>
   <P align=left><FONT size=2 face="Times New Roman">The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt; padding-left: 15pt">
   <P align=left><FONT size=2 face="Times New Roman"></FONT></P></TD>
   <TD vAlign=top width="96%">&nbsp;</TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD vAlign=top width="96%">
   <P><FONT size=2 face="Times New Roman">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="96%">&nbsp;</TD></TR>
<TR>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap; padding-right: 15pt"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; width: 2%; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD vAlign=top width="96%"><P><FONT size=2 face="Times New Roman">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</FONT></P></TD></TR></TABLE><BR><BR>
<TABLE style="WIDTH: 10%; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 border=0>

<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" width="100%" colSpan=2 noWrap align=left><FONT size=2 face="Times New Roman"></FONT><FONT size=2 face="Times New Roman">Date: December 3, 2020</FONT></TD></TR>
<TR>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" width="1%"></TD>
   <TD width="99%">&nbsp; </TD></TR>
<TR>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" width="1%"></TD>
   <TD width="99%">&nbsp; </TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: medium none" width="100%" colSpan=2 noWrap align=left><FONT size=2 face="Times New Roman"></FONT><FONT size=2 face="Times New Roman">/s/RICHARD SALUS</FONT></TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" width="1%" noWrap align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">By:</FONT></FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">Richard Salus</FONT></TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" width="1%" noWrap align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">Title:</FONT>&nbsp;</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">Chief Financial Officer</FONT></TD></TR></TABLE><BR>
<HR align=center SIZE=2 width="100%" noShade>

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<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>3
<FILENAME>diinmif3826701-ex99906cert.htm
<DESCRIPTION>CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
<TEXT>

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<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">EXHIBIT 99.906CERT</FONT></B></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">In connection with the attached report of the registrant on Form N-CSR to be filed with the Securities and Exchange Commission (the &#8220;Report&#8221;), each of the undersigned officers of the registrant does hereby certify, to the best of such officer&#8217;s knowledge, that:</FONT></P>
<TABLE style="BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; vertical-align: top; padding-right: 15pt"><FONT size=2 face="Times New Roman">1.</FONT></TD>
   <TD STYLE="width: 98%; text-align: left"><FONT size=2 face="Times New Roman">The Report fully complies with the requirements of Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934; and</FONT></TD></TR>
<TR>
   <TD width="99%" colSpan=2 align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; vertical-align: top; padding-right: 15pt"><FONT size=2 face="Times New Roman">2.</FONT></TD>
   <TD STYLE="width: 98%; text-align: left"><FONT size=2 face="Times New Roman">The information contained in the Report fairly represents, in all material respects, the financial condition and results of operations of the registrant as of, and for, the periods presented in the Report.</FONT></TD></TR></TABLE>
<BR>
<TABLE style="WIDTH: 10%; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 border=0>

<TR vAlign=bottom>
   <TD width="100%" colSpan=2 noWrap align=left><FONT size=2 face="Times New Roman">Date: December 3, 2020</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=2>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="100%" colSpan=2 noWrap align=left><FONT size=2 face="Times New Roman">/s/SHAWN K. LYTLE</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">Shawn K. Lytle</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">Title:&nbsp;</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">President and Chief Executive Officer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=2>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="100%" colSpan=2 noWrap align=left><FONT size=2 face="Times New Roman">/s/RICHARD SALUS</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">Richard Salus</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">Title:&nbsp;</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">Chief Financial Officer</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act, or other document authenticating, acknowledging, or otherwise adopting the signatures that appear in typed form within the electronic version of this written statement required by Section 906, has been provided to the registrant and will be retained by the registrant and furnished to the SEC or its staff upon request.</FONT></P>
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