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City of Santa Ana <br />Pension Obligation Bonds <br />Scenario 2 - Fresh Start <br />Amounts in $0005 <br />Long -Term UAL Funded by POB % UAL Funded Balance 6/30/22 Deposit <br />Total Par Amount 648,90S.000 <br />Total UAL Funded 631,263.250 90.00% 701,395.050 591,634.604 <br />MiscelldrieuuS <br />222,5/1.8/2 <br />/6.04% <br />292,/03.b/2 208,699.53b <br />Safety <br />408,691.378 <br />100.00% <br />408,691.378 383,035.067 <br />Summary Statistics <br />Total <br />Miscellaneous <br />Safety <br />Average Life <br />13.0 years <br />12.0 years <br />13.6 years <br />TIC <br />2.8S7% <br />2.808% <br />2.882% <br />All -in TIC <br />2.R7R% <br />2.R31%, <br />2OOW <br />Financial PV savings I%of Par) <br />40.14% <br />3819% <br />41.25% <br />Financial PV Savings <br />260,471.814 <br />89,70SA17 <br />170,763398 <br />Cumulative Savings <br />311,127.629 <br />107,120.761 <br />204,006.868 <br />Budgetary Savings (vs; tY22 UAL) <br />136,067.118 <br />Savings(FY»-)6) <br />102,595.058 <br />35,340.898 <br />10),595.058 <br />IVlaxiniurn Annual Debt Service <br />47,2:38. 7, fO <br />19,060.874 <br />30332.:M2 <br />Maximum Annual Total Obligation <br />47,238 786 <br />26,532.866 <br />30,332.342 <br />Actuarial PV Savings I%of Par) <br />3198% <br />30A3% <br />32.870/ <br />Actuarial PV Savings <br />207,541.398 <br />71,474.280 <br />136,067.118 <br />30,n J(1 <br />............... <br />Qn 0 <br />5(IAu(1 <br />40,000 <br />3p,CRln <br />f0,Of10 '. <br />r etn Suvim - [J", and=d UAL tLsrent Jn ....... Y! 1 LAL <br />O: Deposit calculation <br />Deooslt Date 7/15/2021 <br />DcposiL Discount FacLor 0.937223 <br />Miscellaneous <br />Safety <br />Total <br />POB Proceeds 208,599.536 <br />383,035.067 <br />- 591,634.604 <br />1)1®cuunt1n9 (Actuarial RaLe) 13,972.336 <br />25,656.311 <br />- 39,628.646 <br />UAL Payment 222,S71.872 <br />408,691378 <br />- 631,263.2S0 <br />City Council <br />23 — 173 <br />5/18/2021 <br />BofA Securities - Preliminary Analysis 3/10/2021 Page 2 of 18 <br />