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City of Santa Ana <br />Pension Obligation Bonds <br />Scenario 2 - Base Case <br />Amounts in $OOO5 <br />Sources & Uses <br />Miscellaneous Safety Total <br />Sources: <br />Par Amount <br />234,905.000 <br />414,000.000 <br />648,905.000 <br />Premium / (Di' Count) <br />Other Sources <br />- <br />- - <br />- <br />Total Sources <br />234,905.000 <br />414,000.000 - <br />648,905.000 <br />Uses: <br />FY22 UAL Prepayment <br />25,244.430 <br />29,101.640 - <br />54,346.070 <br />POB Deposit <br />208,599.536 <br />383,035.067 - <br />591,634.604 <br />Capitalized Interest <br />- <br />- - <br />- <br />Underwriter'sDintount <br />r2k_936 <br />931500 - <br />1,A60.O36 <br />Costa of Issuance <br />52k.536 <br />931.500 - <br />1,A60.O36 <br />Additional Proceeds <br />3.961 <br />0.293 <br />Total Uses <br />234,905.000 <br />414,000.000 - <br />648,905.000 <br />Average Life <br />1).7 years <br />13.5 years <br />13.) years <br />TIC <br />2.843% <br />2.872% <br />2.862% <br />All -in TIC <br />2.864% <br />2.893% <br />2.883% <br />Bond Structure <br />Dated Date <br />7/15/2021 <br />7/15/2021 <br />First Payment <br />6111202) <br />6/1 /2022 <br />First Maturity <br />6/1/)02) <br />6/1/20)2 <br />Final Maturity <br />6/1/2044 <br />6/1/2044 <br />Capitalized Interest Until <br />Structure <br />Par Amount <br />Coupon <br />Price <br />Final Maturity <br />Avg. Life <br />Serials <br />347,515.000 <br />2.333% <br />100.000 <br />6/1/2035 <br />8.6years <br />Term Bond 1 <br />301,390.000 <br />3A60% <br />100.000 <br />6/1/2044 <br />18.4 years <br />Term Bond 2 <br />- <br />100.000 <br />1/0/1900 <br />Total <br />648.905.000 <br />2.870% <br />100.000 <br />6/1/2044 <br />13.2 vears <br />City Council 23 — 156 5/18/2021 <br />BofA Securities - Preliminary Analysis 3/10/2021 Page 3 of 18 <br />