I'm trying to build out a HTML list menu of taxonomy term followed by nodes associated to that term as a sub HTML list. All items should be linked as well. Can this be done?

Example below:

 - Taxonomy Term 1
  - Associated Node 1
  - Associated Node 2
  - Associated Node 3
 - Taxonomy Term 2
  - Associated Node 4
  - Associated Node 5
  - Associated Node 6
  - Associated Node 7
  - Associated Node 8
  - Associated Node 9
 - Taxonomy Term 3
  - Associated Node 10
  - Associated Node 11
 - Taxonomy Term 4