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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001145443-07-001266.txt : 20070430
<SEC-HEADER>0001145443-07-001266.hdr.sgml : 20070430
<ACCEPTANCE-DATETIME>20070430103550
ACCESSION NUMBER:		0001145443-07-001266
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070228
FILED AS OF DATE:		20070430
DATE AS OF CHANGE:		20070430
EFFECTIVENESS DATE:		20070430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EATON VANCE CALIFORNIA MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0001074692
		IRS NUMBER:				046880057

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-09157
		FILM NUMBER:		07798253

	BUSINESS ADDRESS:	
		STREET 1:		THE EATON VANCE BUILDING
		STREET 2:		255 STATE STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		617-598-8880

	MAIL ADDRESS:	
		STREET 1:		THE EATON VANCE BUILDING
		STREET 2:		255 STATE STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>d21063.htm
<TEXT>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Washington, D.C. 20549</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=4>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=4>Form N-Q</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=4>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>MANAGEMENT INVESTMENT COMPANIES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><font size=2>811-09157</font></u></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Investment Company Act File Number </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><font size=2>Eaton Vance California Municipal Income Trust</font></u></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2> (Exact Name of Registrant as Specified in Charter)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><font size=2>The Eaton Vance Building, 255 State Street, Boston, Massachusetts 02109</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Address of Principal Executive Offices)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Alan R. Dynner, Esq.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><font size=2>Eaton Vance Management, 255 State Street, Boston, Massachusetts 02109</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Name and Address of Agent for Services)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><font size=2>(617) 482-8260</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Registrant&#146;s Telephone Number, Including Area Code)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><font size=2>November 30</font></u></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Date of Fiscal Year End</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><font size=2>February 28, 2007</font></u></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Date of Reporting Period</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR align=center width="100%" color=#010101 noShade SIZE=3>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
<b><font size=2>Item 1. Schedule of Investments</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600">
<TR VALIGN=TOP>
<TD ALIGN=LEFT><P ALIGN="LEFT"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Eaton Vance California Municipal Income Trust
</B></FONT></TD>
<TD ALIGN=RIGHT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>as of February 28, 2007</B></FONT></DIV></P></TD>
</TR>
</TABLE>
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<P ALIGN="LEFT"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>PORTFOLIO OF INVESTMENTS (Unaudited)</B></FONT></DIV></P>
<!-- agabop mode="main" last-style="" -->
<P ALIGN="LEFT"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Tax-Exempt Investments &#151; 159.6%</B></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH=600>
<TR VALIGN="BOTTOM">
     <TH WIDTH="15%" nowrap ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"><B>Principal<BR> Amount<BR> (000&#146;s omitted)</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"></FONT></TH>
     <TH COLSPAN="3" WIDTH="100%" nowrap ALIGN="CENTER" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"><B>Security<BR></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER" ></FONT></TH>
     <TH ALIGN="CENTER" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"
></FONT></TH>
     <TH COLSPAN="3" WIDTH="17.5%" nowrap ALIGN="CENTER" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"><B>Value<BR></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER" ></FONT></TH>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Education &#151; 11.2%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;1,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Educational Facilities Authority, (Dominican University), 5.75%, 12/1/30</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,032,220</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;2,770</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Educational Facilities Authority, (Lutheran University), 5.00%, 10/1/29</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;2,914,511</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Educational Facilities Authority, (Pepperdine University), 5.00%, 11/1/29</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;517,295</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;1,850</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Educational Facilities Authority, (Santa Clara University), 5.00%, 9/1/23</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;2,066,006</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;4,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Educational Facilities Authority, (Stanford University), 5.125%, 1/1/31</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;4,077,520</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;2,500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">San Diego County, Certificates of Participation, (University of San Diego), 5.375%, 10/1/41</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;2,613,125</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>13,220,677</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Electric Utilities &#151; 2.3%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;2,500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Chula Vista, (San Diego Gas), (AMT), 5.00%, 12/1/27</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;2,658,175</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>2,658,175</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Escrowed / Prerefunded &#151; 1.4%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;1,590</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Tahoe Forest, Hospital District, Prerefunded to 7/1/09, 5.85%, 7/1/22</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;1,697,150</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>1,697,150</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>General Obligations &#151; 4.2%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;1,100</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California, 5.25%, 4/1/30</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,162,997</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;3,500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California, 5.50%, 11/1/33</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;3,828,265</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>4,991,262</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Hospital &#151; 25.4%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;4,200</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Health Facilities Financing Authority, (Cedars-Sinai Medical Center), 5.00%, 11/15/34</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;4,394,418</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;750</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Infrastructure and Economic Development, (Kaiser Hospital), 5.50%, 8/1/31</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;797,220</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;3,900</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Statewide Communities Development Authority, (Huntington Memorial Hospital), 5.00%, 7/1/35</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;4,097,808</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;1,750</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Statewide Communities Development Authority, (John Muir Health), 5.00%, 8/15/36</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,847,177</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;850</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Statewide Communities Development Authority, (Kaiser Permanente), 5.00%, 3/1/41</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;888,556</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="porthead1" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="WIDTH=500pt" ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1</FONT></DIV></P>
<HR align=center width="100%" color=#010101 noShade SIZE=3>
<!-- END DIVISION: DIV_california-mit-d2-revised-2 PAGE POSITION: 1 -->
<PAGE>
<BR>
<!-- BEGIN DIVISION: DIV_california-mit-d2-revised-2 PAGE POSITION: 2 -->
<P ALIGN="LEFT"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<P ALIGN="LEFT"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<!-- agabop mode="main" last-style="porthead1" -->
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH=600></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;3,100</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Statewide Communities Development Authority, (Kaiser Permanente), 5.25%, 3/1/45</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;3,307,297</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;1,650</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Statewide Communities Development Authority, (Kaiser Permanente), 5.50%, 11/1/32</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,746,360</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;1,750</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Statewide Communities Development Authority, (Sonoma County Indian Health), 6.40%, 9/1/29</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,846,880</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;1,500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Statewide Communities Development Authority, (Sutter Health), 5.50%, 8/15/28</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,620,195</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;1,500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Duarte, Hope National Medical Center, (City of Hope), 5.25%, 4/1/24</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,546,740</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;1,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Stockton, Health Facilities Authority, (Dameron Hospital), 5.70%, 12/1/14</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,030,710</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;410</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Tahoe Forest Hospital District, 5.85%, 7/1/22</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;434,272</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;2,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Torrance Hospital, (Torrance Memorial Medical Center), 5.50%, 6/1/31</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;2,117,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;2,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Turlock, (Emanuel Medical Center, Inc.), 5.375%, 10/15/34</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;2,114,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;2,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Washington Township Hospital Health Care District, 5.25%, 7/1/29</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;2,058,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>29,848,033</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Housing &#151; 1.1%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;&nbsp;&nbsp;753</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Commerce (Hermitage III Senior Apartments), 6.50%, 12/1/29</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;804,895</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;431</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Commerce (Hermitage III Senior Apartments), 6.85%, 12/1/29</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;456,558</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>1,261,453</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Industrial Development Revenue &#151; 2.2%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;2,500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Statewide Communities Development Authority, (Anheuser Bush Project), 4.80%, 9/1/46</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;2,527,375</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>2,527,375</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Insured-Education &#151; 7.3%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;6,510</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Educational Facilities Authority, (Loyola Marymount University), (MBIA), 0.00%, 10/1/33</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;2,046,223</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;3,270</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Educational Facilities Authority, (Pooled College and University), (MBIA), 5.10%, 4/1/23</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;3,380,395</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;3,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California State University, (AMBAC), 5.00%, 11/1/33</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;3,160,140</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>8,586,758</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Insured-Electric Utilities &#151; 15.7%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;3,250</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Pollution Control Financing Authority, (Southern California Edison Co.), (MBIA), (AMT), 5.55%, 9/1/31</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;3,408,047</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;2,500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Pollution Control Financing Authority, PCR, (Pacific Gas and Electric), (MBIA), (AMT), 5.35%, 12/1/16</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;2,680,925</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="porthead1" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="WIDTH=500pt" ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2</FONT></DIV></P>
<HR align=center width="100%" color=#010101 noShade SIZE=3>
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<PAGE>
<BR>
<!-- BEGIN DIVISION: DIV_california-mit-d2-revised-2 PAGE POSITION: 3 -->
<P ALIGN="LEFT"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<P ALIGN="LEFT"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<!-- agabop mode="main" last-style="porthead1" -->
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH=600></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;3,625</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Los Angeles Department of Water and Power, Power System Revenues, (FSA), 4.625%, 7/1/37</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;3,710,477</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;2,875</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Puerto Rico Electric Power Authority, (FSA), 5.25%, 7/1/29&nbsp;&nbsp;(1)</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;3,028,022</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;1,995</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Puerto Rico Electric Power Authority, (FSA), 5.25%, 7/1/29&nbsp;&nbsp;(1)</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;2,101,187</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;2,563</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Puerto Rico Electric Power Authority, (FSA), Variable Rate, 6.63%, 7/1/29&nbsp;&nbsp;(2)(3)</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;2,835,278</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Puerto Rico Electric Power Authority, (MBIA), Variable Rate, 8.775%, 7/1/16&nbsp;&nbsp;(2)(4)</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;712,175</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>18,476,111</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Insured-Escrowed/Prerefunded &#151; 4.9%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;5,130</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Foothill/Eastern, Transportation Corridor Agency, (FSA), Escrowed to Maturity, 0.00%, 1/1/26</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;2,322,710</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;2,500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Los Angeles County, Metropolitan Transportation Authority, (FGIC), Prerefunded to 7/1/10, 5.25%, 7/1/30</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;2,659,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;710</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Puerto Rico Highway and Transportation Authority, Prerefunded to 7/1/15, (AGC), 5.00%, 7/1/45</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;775,959</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>5,758,069</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Insured-General Obligations &#151; 17.3%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;1,650</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California, RITES, (AMBAC), Variable Rate, 11.014%, 5/1/26&nbsp;&nbsp;(2)(4)</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;2,008,710</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;7,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Coast Community College District, (Election of 2002), (FSA), 0.00%, 8/1/34</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,718,360</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;4,825</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Coast Community College District, (FSA), 0.00%, 8/1/35</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,118,966</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;2,500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Puerto Rico, (FSA), Variable Rate, 12.684%, 7/1/27&nbsp;&nbsp;(2)(4)</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;2,964,900</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;4,800</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">San Diego Unified School District, (MBIA), 5.50%, 7/1/24&nbsp;&nbsp;(1)</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;5,704,016</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;3,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Simi Valley Unified School District, (MBIA), 5.00%, 8/1/28</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;3,193,950</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;7,995</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Sweetwater Union High School District, (Election 2000), (FSA), 0.00%, 8/1/25</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;3,663,949</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>20,372,851</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Insured-Hospital &#151; 6.2%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;3,200</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Statewide Communities Development Authority, (Children&#146;s Hospital Los Angeles), (MBIA), 5.25%,
8/15/29&nbsp;&nbsp;(5)</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;3,330,368</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;3,735</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Statewide Communities Development Authority, (Sutter Health), (FSA), 5.75%, 8/15/27&nbsp;&nbsp;(1)</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;3,940,562</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>7,270,930</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="porthead1" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="WIDTH=500pt" ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3</FONT></DIV></P>
<HR align=center width="100%" color=#010101 noShade SIZE=3>
<!-- END DIVISION: DIV_california-mit-d2-revised-2 PAGE POSITION: 3 -->
<PAGE>
<BR>
<!-- BEGIN DIVISION: DIV_california-mit-d2-revised-2 PAGE POSITION: 4 -->
<P ALIGN="LEFT"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<P ALIGN="LEFT"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<!-- agabop mode="main" last-style="porthead1" -->
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH=600></TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Insured-Lease Revenue / Certificates of Participation &#151; 9.7%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;6,500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Anaheim, Public Financing Authority Lease Revenue, (Public Improvements), (FSA), 0.00%, 9/1/17</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;4,253,275</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10,750</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Anaheim, Public Financing Authority Lease Revenue, (Public Improvements), (FSA), 0.00%, 9/1/25</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;4,847,282</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;6,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Anaheim, Public Financing Authority Lease Revenue, (Public Improvements), (FSA), 0.00%, 9/1/28</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;2,347,980</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>11,448,537</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Insured-Special Tax Revenue &#151; 2.7%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;3,170</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">San Francisco Bay Area Rapid Transportation District Sales, Tax Revenue, (FSA), 4.25%, 7/1/36</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;3,156,654</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>3,156,654</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Insured-Transportation &#151; 14.2%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;5,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Alameda Corridor Transportation Authority, (AMBAC), 0.00%, 10/1/29</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,887,050</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;8,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Alameda Corridor Transportation Authority, (MBIA), 0.00%, 10/1/31</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;2,756,480</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;7,545</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Puerto Rico Highway and Transportation Authority, (AMBAC), 5.00%, 7/1/28&nbsp;&nbsp;(1)</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;7,755,707</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;750</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Puerto Rico Highway and Transportation Authority, (CIFG), 5.25%, 7/1/41&nbsp;&nbsp;(1)</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;899,468</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">San Joaquin Hills Transportation Corridor Agency, (MBIA), 0.00%, 1/15/32</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;3,419,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>16,718,005</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Insured-Water and Sewer &#151; 4.6%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;5,500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Calleguas Las Virgines Public Financing Authority, (MBIA), 4.25%, 7/1/32</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;5,449,125</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>5,449,125</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Insured-Water Revenue &#151; 5.4%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;4,400</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Los Angeles, Water and Power, Water Revenue, (MBIA), 3.00%, 7/1/30</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;3,565,188</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;2,710</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">San Francisco City and County Public Utilities Commission, (FSA), 4.25%, 11/1/33</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;2,707,724</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>6,272,912</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="porthead1" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="WIDTH=500pt" ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4</FONT></DIV></P>
<HR align=center width="100%" color=#010101 noShade SIZE=3>
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<PAGE>
<BR>
<!-- BEGIN DIVISION: DIV_california-mit-d2-revised-2 PAGE POSITION: 5 -->
<P ALIGN="LEFT"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<P ALIGN="LEFT"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<!-- agabop mode="main" last-style="porthead1" -->
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH=600></TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Lease Revenue/Certificates of Participation &#151; 3.9%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;4,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Sacramento City Financing Authority, 5.40%, 11/1/20</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;4,540,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>4,540,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Other Revenue &#151; 1.3%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;1,425</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Statewide Communities Development Authority, (East Valley Tourist Development Authority), 8.25%,
10/1/14&nbsp;&nbsp;(2)</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;1,538,815</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>1,538,815</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Senior Living / Life Care &#151; 0.8%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;&nbsp;&nbsp;175</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Statewide Communities Development Authority, (Presbyterian Senior Living), 4.75%, 11/15/26</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;178,677</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;700</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">California Statewide Communities Development Authority, (Presbyterian Senior Living), 4.875%, 11/15/36</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;715,169</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>893,846</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Special Tax Revenue &#151; 16.8%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;1,500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Bonita Canyon Public Financing Authority, 5.375%, 9/1/28</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,517,850</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;285</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Brentwood Infrastructure Financing Authority, 5.00%, 9/2/26</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;292,661</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;460</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Brentwood Infrastructure Financing Authority, 5.00%, 9/2/34</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;469,080</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;1,665</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Corona Public Financing Authority, 5.80%, 9/1/20</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,673,042</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;200</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Eastern California Municipal Water District, Special Tax Revenue District No. 2004-27 Cottonwood, 5.00%, 9/1/27</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;203,712</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Eastern California Municipal Water District, Special Tax Revenue District No. 2004-27 Cottonwood, 5.00%, 9/1/36</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;508,135</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;1,590</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Fontana Redevelopment Agency, (Jurupa Hills), 5.60%, 10/1/27</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,665,843</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Jurupa Community Services District, (Community Facilities District No. 16), 5.30%, 9/1/34</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;514,535</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;1,305</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Lincoln Public Financing Authority, Improvement Bond Act of 1915, (Twelve Bridges), 6.20%, 9/2/25</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,375,953</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;420</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Moreno Valley Unified School District, (Community School District No. 2003-2), 5.75%, 9/1/24</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;430,487</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;750</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Moreno Valley Unified School District, (Community School District No. 2003-2), 5.90%, 9/1/29</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;769,170</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;2,460</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Oakland Joint Powers Financing Authority, 5.40%, 9/2/18</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;2,564,525</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;995</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Oakland Joint Powers Financing Authority, 5.50%, 9/2/24</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,039,278</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;700</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Rancho Cucamonga Public Financing Authority, 6.00%, 9/2/20</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;733,348</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;1,325</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">San Pablo Redevelopment Agency, 5.65%, 12/1/23</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,395,132</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;1,500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Santa Margarita Water District, 6.20%, 9/1/20</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;1,601,415</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;250</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Santaluz Community Facilities District No. 2, 6.10%, 9/1/21</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;252,008</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="porthead1" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="WIDTH=500pt" ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">5</FONT></DIV></P>
<HR align=center width="100%" color=#010101 noShade SIZE=3>
<!-- END DIVISION: DIV_california-mit-d2-revised-2 PAGE POSITION: 5 -->
<PAGE>
<BR>
<!-- BEGIN DIVISION: DIV_california-mit-d2-revised-2 PAGE POSITION: 6 -->
<P ALIGN="LEFT"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<P ALIGN="LEFT"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<!-- agabop mode="main" last-style="porthead1" -->
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH=600></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;&nbsp;&nbsp;500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Santaluz Community Facilities District No. 2, 6.20%, 9/1/30</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;504,270</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;250</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Temecula, California Unified School District, 5.00%, 9/1/27</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;257,533</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;400</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Temecula, California Unified School District, 5.00%, 9/1/37</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;409,576</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;500</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Turlock Public Financing Authority, 5.45%, 9/1/24</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;517,640</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;1,000</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Whittier Public Financing Authority, (Greenleaf Avenue Redevelopment), 5.50%, 11/1/23</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;1,045,230</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>19,740,423</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Transportation &#151; 1.0%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">$&nbsp;1,170</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT: -10px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">Port of Redwood City, (AMT), 5.125%, 6/1/30</FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;1,202,994</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="RIGHT" WIDTH="15%" COLSPAN=8><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>1,202,994</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=12><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Total Tax-Exempt Investments &#151; 159.6%</B></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=8><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;(identified cost $173,550,097)</B></FONT></DIV></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>187,630,555</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=8><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Other Assets, Less Liabilities &#151; (9.4)%</B></FONT></DIV></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>(11,062,190</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>)</B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=8><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Auction Preferred Shares Plus Cumulative Unpaid Dividends &#151; (50.2)%</B></FONT></DIV></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>(59,025,857</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>)</B>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%" COLSPAN=8><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Net
Assets Applicable to Common Shares&#151; 100.0%</B></FONT></DIV></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;<B>$</B></FONT></TD>
     <TD ALIGN="RIGHT" VALIGN="BOTTOM"  WIDTH="17.5%" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>117,542,508</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap VALIGN="BOTTOM"  style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B></B>&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600">
<TR VALIGN="TOP">
<TD WIDTH="60pt" ALIGN="LEFT"><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">AGC&nbsp;&nbsp;</FONT></DIV></TD>
<TD WIDTH="20pt" ALIGN="CENTER">&#150;</TD><TD WIDTH="530pt" ALIGN="LEFT"><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Assured Guaranty
Corp.</FONT></DIV></TD></TR></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600">
<TR VALIGN="TOP">
<TD WIDTH="60pt" ALIGN="LEFT"><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">AMBAC&nbsp;&nbsp;</FONT></DIV></TD>
<TD WIDTH="20pt" ALIGN="CENTER">&#150;</TD><TD WIDTH="530pt" ALIGN="LEFT"><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">AMBAC Financial
Group, Inc.</FONT></DIV></TD></TR></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600">
<TR VALIGN="TOP">
<TD WIDTH="60pt" ALIGN="LEFT"><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">AMT&nbsp;&nbsp;</FONT></DIV></TD>
<TD WIDTH="20pt" ALIGN="CENTER">&#150;</TD><TD WIDTH="530pt" ALIGN="LEFT"><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Interest earned
from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax.</FONT></DIV></TD></TR></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600">
<TR VALIGN="TOP">
<TD WIDTH="60pt" ALIGN="LEFT"><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">CIFG&nbsp;&nbsp;</FONT></DIV></TD>
<TD WIDTH="20pt" ALIGN="CENTER">&#150;</TD><TD WIDTH="530pt" ALIGN="LEFT"><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">CDC IXIS Financial
Guaranty North America, Inc.</FONT></DIV></TD></TR></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600">
<TR VALIGN="TOP">
<TD WIDTH="60pt" ALIGN="LEFT"><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">FGIC&nbsp;&nbsp;</FONT></DIV></TD>
<TD WIDTH="20pt" ALIGN="CENTER">&#150;</TD><TD WIDTH="530pt" ALIGN="LEFT"><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Financial Guaranty
Insurance Company</FONT></DIV></TD></TR></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600">
<TR VALIGN="TOP">
<TD WIDTH="60pt" ALIGN="LEFT"><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">FSA&nbsp;&nbsp;</FONT></DIV></TD>
<TD WIDTH="20pt" ALIGN="CENTER">&#150;</TD><TD WIDTH="530pt" ALIGN="LEFT"><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Financial Security
Assurance, Inc.</FONT></DIV></TD></TR></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600">
<TR VALIGN="TOP">
<TD WIDTH="60pt" ALIGN="LEFT"><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">MBIA&nbsp;&nbsp;</FONT></DIV></TD>
<TD WIDTH="20pt" ALIGN="CENTER">&#150;</TD><TD WIDTH="530pt" ALIGN="LEFT"><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Municipal Bond
Insurance Association</FONT></DIV></TD></TR></TABLE>
<P ALIGN="LEFT"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The Trust invests primarily in debt securities issued by
California municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a
specific industry or municipality. In order to reduce the risk associated with such economic developments, at February 28, 2007, 55.2% of total
investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured
by an individual financial institution ranged from 0.4% to 23.8% of total investments.</FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH=600>
<TR VALIGN="TOP">
     <TD WIDTH="52pt" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(1)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="440pt" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Security represents the underlying municipal obligation of an
inverse floating rate obligation held by the Trust.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH=600>
<TR VALIGN="TOP">
     <TD WIDTH="52pt" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(2)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="440pt" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Security exempt from registration under Rule 144A of the
Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At February
28, 2007, the aggregate value of the securities is $10,059,878 or 8.6% of the Trust&#146;s net assets applicable to common shares.</FONT></TD>
</TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH=600>
<TR VALIGN="TOP">
     <TD WIDTH="52pt" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(3)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="440pt" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Security has been issued as an inverse floater bond. The stated
interest rate represents the rate in effect at February 28, 2007.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH=600>
<TR VALIGN="TOP">
     <TD WIDTH="52pt" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(4)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="440pt" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Security has been issued as a leveraged inverse floater bond.
The stated interest rate represents the rate in effect at February 28, 2007.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH=600>
<TR VALIGN="TOP">
     <TD WIDTH="52pt" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(5)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="440pt" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Security (or a portion thereof) has been segregated to cover
margin requirements on open financial futures contracts.</FONT></TD>
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="portfootnote" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="WIDTH=500pt" ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">6</FONT></DIV></P>
<HR align=center width="100%" color=#010101 noShade SIZE=3>
<!-- END DIVISION: DIV_california-mit-d2-revised-2 PAGE POSITION: 6 -->

<PAGE>
<BR>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>A summary of financial instruments at February 28, 2007 is as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Futures Contracts</font></b></p>


<table border="0" cellspacing=0 cellpadding=0 width="613" style='margin-left:4.65pt;border-collapse:collapse'>
    <tr style='height:14.25pt'>
        <TD NOWRAP VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:14.25pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD VALIGN="bottom" STYLE="border-bottom:padding:0in 0pt 0in 0pt;height:0pt" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:14.25pt" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:14.25pt" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:14.25pt" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:14.25pt" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:14.25pt" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD NOWRAP VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:14.25pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD NOWRAP VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:14.25pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD NOWRAP VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:14.25pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD NOWRAP VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:14.25pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <TD NOWRAP VALIGN="bottom" STYLE="border-bottom: solid black 1.0pt; padding:0in 0pt 0in 0pt;height:0pt" ALIGN="LEFT">
            <P STYLE="margin-left:0pt;text-indent:0pt;text-align:LEFT;margin-top:0pt;margin-bottom:0pt" ALIGN="LEFT"><FONT SIZE="1"><B>Expiration<BR>Date</B></FONT></p> </td>
        <TD VALIGN="bottom" STYLE="border-bottom:padding:0in 0pt 0in 0pt;height:0pt" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;&nbsp;&nbsp;</font></p> </td>
        <TD VALIGN="bottom" STYLE="border-bottom: solid black 1.0pt; padding:0in 0pt 0in 0pt;height:0pt" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Contracts</font></b></p> </td>
        <TD VALIGN="bottom" STYLE="padding:0in 0pt 0in 0pt;height:0pt" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;&nbsp;&nbsp;</font></p> </td>
        <TD NOWRAP VALIGN="bottom" STYLE=" border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Position</font></b></p> </td>
        <TD VALIGN="bottom" STYLE="padding:0in 0pt 0in 0pt;height:0pt" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;&nbsp;&nbsp;</font></p> </td>
        <TD VALIGN="bottom" STYLE="border-bottom: solid black 1.0pt; padding:0in 0pt 0in 0pt;height:0pt" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Aggregate<BR>Cost</font></b></p> </td>
        <TD NOWRAP VALIGN="bottom" STYLE="padding:0in 0pt 0in 0pt;height:0pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;&nbsp;&nbsp;</font></p> </td>
        <TD VALIGN="bottom" STYLE="border-bottom: solid black 1.0pt; padding:0in 0pt 0in 0pt;height:0pt" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Value</font></b></p> </td>
        <TD NOWRAP VALIGN="bottom" STYLE="padding:0in 0pt 0in 0pt;height:12.75pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;&nbsp;&nbsp;</font></p> </td>
        <TD NOWRAP VALIGN="bottom" STYLE="border-bottom: solid black 1.0pt; padding:0in 0pt 0in 0pt;height:0pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Net Unrealized<BR>Depreciation</font></b></p> </td> </tr>
    <tr style='height:12.75pt'>
        <TD NOWRAP VALIGN="top" STYLE="padding:0in 0pt 0in 0pt;height:0pt" BGCOLOR="#CCEEFF">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>06/07</font></p> </td>
        <TD width=100% VALIGN="bottom" STYLE="border-bottom:padding:0in 0pt 0in 0pt;height:0pt" NOWRAP BGCOLOR="#CCEEFF">
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD VALIGN="BOTTOM" STYLE="padding:0in 5.4pt 0in 5.4pt;height:12.75pt" BGCOLOR="#CCEEFF" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>122 U.S. Treasury Bond</font></p> </td>
        <TD VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:12.75pt" BGCOLOR="#CCEEFF" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
        <TD NOWRAP VALIGN="bottom" STYLE=" padding:0in 5.4pt 0in 5.4pt; height:12.75pt" BGCOLOR="#CCEEFF">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Short</font></p> </td>
        <TD VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:12.75pt" BGCOLOR="#CCEEFF" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
        <TD VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:12.75pt" BGCOLOR="#CCEEFF" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>$(13,776,042)</font></p> </td>
        <TD NOWRAP VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:12.75pt" BGCOLOR="#CCEEFF">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
        <TD VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:12.75pt" BGCOLOR="#CCEEFF" NOWRAP>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>$(13,778,375)</font></p> </td>
        <TD NOWRAP VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:12.75pt" BGCOLOR="#CCEEFF">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
        <TD NOWRAP VALIGN="bottom" STYLE="padding:0in 5.4pt 0in 5.4pt;height:12.75pt" BGCOLOR="#CCEEFF">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>$(2,333)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Interest Rate Swaps</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>At February 28, 2007, the Trust had entered into an interest rate swap agreement with Merrill Lynch Capital Services, Inc. whereby the Trust makes bi-annual payments at a fixed rate equal to 4.006% on the notional amount of $4,400,000.  In exchange, the Trust receives bi-annual payments at a rate equal to the USD-BMA Municipal Swap Index on the same notional amount.  The effective date of the interest rate swap is August 7, 2007.  The value of the contract, which terminates August 7, 2037, is recorded as a payable for open interest rate swap contracts of $77,814 at February 28, 2007. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>At February 28, 2007, the Trust had entered into an interest rate swap agreement with JP Morgan Chase Bank, N.A. whereby the Trust makes bi-annual payments at a fixed rate equal to 3.984% on the notional amount of $7,000,000.  In exchange, the Trust receives bi-annual payments at a rate equal to the USD-BMA Municipal Swap Index on the same notional amount.  The effective date of the interest rate swap is October 25, 2007.  The value of the contract, which terminates October 25, 2027, is recorded as a payable for open interest rate swap contracts of $122,830 at February 28, 2007. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>At February 28, 2007, the Trust had entered into an interest rate swap agreement with Citibank N.A. whereby the Trust makes bi-annual payments at a fixed rate equal to 3.925% on the notional amount of $4,400,000.  In exchange, the Trust receives bi-annual payments at a rate equal to the USD-BMA Municipal Swap Index on the same notional amount.  The effective date of the interest rate swap is August 16, 2007.  The value of the contract, which terminates August 16, 2027, is recorded as a payable for open interest rate swap contracts of $48,396 at February 28, 2007. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>At February 28, 2007, the Trust had sufficient cash and/or securities to cover commitments under these contracts.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>The cost and unrealized appreciation (depreciation) in value of the investments owned at February 28, 2007, as computed on a federal income tax basis, were as follows:</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="427" style='margin-left:4.65pt;border-collapse:collapse'>
    <tr style='height:11.25pt'>
        <TD WIDTH="5%" NOWRAP VALIGN="BOTTOM" STYLE=" height:11.25pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD WIDTH="95%" NOWRAP VALIGN="BOTTOM" STYLE=" border-bottom:solid black 0.0pt; height:11.25pt" BGCOLOR="#CCEEFF">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Aggregate cost</font></b></p> </td>
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            <p style='margin-right:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><b><font size=2>$</font></b></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><b><font size=2>159,196,791 </font></b></p> </td> </tr>
    <tr style='height:11.25pt'>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD NOWRAP VALIGN="BOTTOM" STYLE=" height:11.25pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Gross unrealized appreciation</font></p> </td>
        <TD NOWRAP VALIGN="BOTTOM" STYLE=" height:11.25pt">
            <p style='margin-right:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
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            <p style='margin-right:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>14,446,264  </font></p> </td> </tr>
    <tr style='height:11.25pt'>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Gross unrealized depreciation</font></p> </td>
        <TD NOWRAP VALIGN="BOTTOM" STYLE="border-bottom: solid black 1.0pt; height:11.25pt" BGCOLOR="#CCEEFF">
            <p style='margin-right:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD NOWRAP VALIGN="BOTTOM" STYLE=" border-bottom:solid black 1.0pt; height:11.25pt" BGCOLOR="#CCEEFF">
            <p style='margin-right:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>&#151;</font></p> </td> </tr>
    <tr style='height:11.25pt'>
        <TD NOWRAP VALIGN="BOTTOM" STYLE=" height:11.25pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <TD NOWRAP VALIGN="BOTTOM" STYLE=" border-bottom:solid black 0.0pt; height:11.25pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Net unrealized appreciation</font></b></p> </td>
        <TD NOWRAP VALIGN="BOTTOM" STYLE="border-bottom: solid black 2.0pt; height:11.25pt">
            <p style='margin-right:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><b><font size=2>$</font></b></p> </td>
        <TD NOWRAP VALIGN="BOTTOM" STYLE=" border-bottom:solid black 2.0pt; height:11.25pt">
            <p style='margin-right:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><b><font size=2>14,446,264 </font></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B></B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="WIDTH=500pt" ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">7</FONT></DIV></P>
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<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Item 2. Controls and Procedures</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>(a)</font><font size=2> </font><font size=2>It is the conclusion of the registrant&#146;s principal executive officer and principal financial officer that the effectiveness of the registrant&#146;s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission&#146;s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant&#146;s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>(b) During the second fiscal quarter of the period covered by this report, the registrant&#146;s internal control over financial reporting was modified to enhance the review and analysis of the relevant terms and conditions of transfers of securities in connection with inverse floating rate obligations in light of Statement of Financial Accounting Standards No. 140. </font></p>


<br>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
<b><font size=4>Signatures</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Eaton Vance California Municipal Income Trust</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td  nowrap colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>/s/ Cynthia J. Clemson</font></p> </td> </tr>
    <tr >
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="145" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Cynthia J. Clemson</font></font></p> </td>
        <td  width="19">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>President and Principal Executive Officer</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date:</font></p> </td>
        <td width="113" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>April 23, 2007</font></font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font color="#FF0000"><font size=2>&nbsp;</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>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>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td  nowrap colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>/s/ Cynthia J. Clemson</font></p> </td> </tr>
    <tr >
        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="145" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Cynthia J. Clemson</font></font></p> </td>
        <td  width="19">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>President and Principal Executive Officer</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date:</font></p> </td>
        <td width="113" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>April 23, 2007</font></font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font color="#FF0000"><font size=2>&nbsp;</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font color="#FF0000"><font size=2>&nbsp;</font></font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td  nowrap colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>/s/ Barbara E. Campbell</font></p> </td> </tr>
    <tr >
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="155" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Barbara E. Campbell</font></font></p> </td>
        <td  width="19">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Treasurer and Principal Financial Officer</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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        <td width="113" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>April 23, 2007</font></font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font color="#FF0000"><font size=2>&nbsp;</font></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Eaton Vance California Municipal Income Trust</font></b></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Certification</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Pursuant to Rule 302 of the Sarbanes-Oxley Act of 2003</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><font SIZE=2>I, </font><font size=2>Cynthia J. Clemson</font></font><font size=2>, certify that:</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>1.</font></p> </td>
        <td width="619" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>I have reviewed this report on Form N-Q of </font><font size=2>Eaton Vance California Municipal Income Trust</font></font><font size=2>;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>2.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>3.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Based on my knowledge, the schedule of investments included in this report, fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is being filed; </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>4.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.59in;text-align:justify;'><font size=2> (a)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.59in;text-align:justify;'><font size=2> (b)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.59in;text-align:justify;'><font size=2> (c)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.59in;text-align:justify;'><font size=2> (d)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>5.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The registrant's other certifying officers and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.59in;text-align:justify;'><font size=2> (a)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.59in;text-align:justify;'><font size=2> (b)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="212" style='border-collapse:collapse'>
    <tr >
        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td  nowrap colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/ Cynthia J. Clemson</font></u></p> </td> </tr>
    <tr >
        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  nowrap colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Cynthia J. Clemson</font></font></p> </td>
        <td  width="19">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="79" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>President</font></p> </td>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr>
        <td width="48" ></td>

        <td width="79" ></td>

        <td width="67" ></td>

        <td width="19" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="161" style='border-collapse:collapse'>
    <tr >
        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date:</font></p> </td>
        <td width="113" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>April 23, 2007</font></font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
<b><font size=2>Eaton Vance California Municipal Income Trust</font></b></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Certification</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Pursuant to Rule 302 of the Sarbanes-Oxley Act of 2003</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><font SIZE=2>I, </font><font size=2>Barbara E. Campbell</font></font><font size=2>, certify that:</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="667" style='border-collapse:collapse'>
    <tr >
        <td width="48" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>1.</font></p> </td>
        <td width="619" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>I have reviewed this report on Form N-Q of </font><font size=2>Eaton Vance California Municipal Income Trust</font></font><font size=2>;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>2.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>3.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Based on my knowledge, the schedule of investments included in this report, fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is being filed; </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>4.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.59in;text-align:justify;'><font size=2> (a)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.59in;text-align:justify;'><font size=2> (b)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.59in;text-align:justify;'><font size=2> (c)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.59in;text-align:justify;'><font size=2> (d)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>5.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The registrant's other certifying officers and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.59in;text-align:justify;'><font size=2> (a)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.59in;text-align:justify;'><font size=2> (b)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="221" style='border-collapse:collapse'>
    <tr >
        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td  nowrap colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/ Barbara E. Campbell</font></u></p> </td> </tr>
    <tr >
        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  nowrap colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Barbara E. Campbell</font></font></p> </td>
        <td  width="19">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Treasurer</font></p> </td>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr>
        <td width="48" ></td>

        <td width="80" ></td>

        <td width="75" ></td>

        <td width="19" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="161" style='border-collapse:collapse'>
    <tr >
        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date:</font></p> </td>
        <td width="113" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>April 23, 2007</font></font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



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