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City of Santa Ana
<br />Pension Obligation Bonds
<br />Scenario 2 - Base Case
<br />Amounts in $000s
<br />Fiscal Year
<br />Prior UAL
<br />Unrefunded UAL
<br />Debt Service
<br />Savings
<br />PV Savings
<br />2022
<br />56,216.012
<br />(36,211.468)
<br />20,004.544
<br />20,165.931
<br />2023
<br />61,071.833
<br />(12,957.869)
<br />(28,111.610)
<br />20,002.355
<br />19,390.620
<br />2024
<br />64,221.346
<br />(13,100.589)
<br />(31,116.596)
<br />20,004.161
<br />18,878.698
<br />2025
<br />67,531.864
<br />(13,271.450)
<br />(33,553.241)
<br />20,707.173
<br />19,009.504
<br />2026
<br />69,529.201
<br />(13,633.279)
<br />(33,192.695)
<br />22,703.228
<br />20,227.318
<br />2027
<br />71,395.317
<br />(14,005.059)
<br />(32,819.733)
<br />24,570.526
<br />21,251.214
<br />2028
<br />72,927.794
<br />(14,387.063)
<br />(32,439.217)
<br />26,101.514
<br />21,921.960
<br />2029
<br />69,282.413
<br />(5,523.743)
<br />(41,301.497)
<br />22,457.173
<br />18,446.526
<br />2030
<br />71,117.721
<br />(46,830.777)
<br />24,286.944
<br />19,416.779
<br />2031
<br />73,027.521
<br />(46,831.952)
<br />26,195.569
<br />20,328.625
<br />2032
<br />67,895.667
<br />(46,823.919)
<br />21,071.748
<br />15,961.052
<br />2033
<br />67,036.958
<br />(46,829.249)
<br />20,207.709
<br />14,892.551
<br />2034
<br />61,813.905
<br />(46,829.754)
<br />14,984.151
<br />10,820.259
<br />2035
<br />59,692.424
<br />(46,832.449)
<br />12,859.975
<br />9,074.548
<br />2036
<br />56,436.917
<br />(46,833.924)
<br />9,602.993
<br />6,670.190
<br />2037
<br />50,733.458
<br />(46,824.928)
<br />3,908.530
<br />2,829.238
<br />2038
<br />48,123.557
<br />(46,828.960)
<br />1,294.597
<br />1,123.061
<br />2039
<br />45,140.358
<br />(45,134.440)
<br />5.918
<br />302.831
<br />2040
<br />42,838.845
<br />(42,833.824)
<br />5.021
<br />282.886
<br />2041
<br />41,490.921
<br />(41,486.704)
<br />4.217
<br />270.219
<br />2042
<br />27,326.929
<br />(27,324.008)
<br />2.921
<br />173.160
<br />2043
<br />25,812.261
<br />(25,805.848)
<br />6.413
<br />163.481
<br />2044
<br />21,568.340
<br />(21,565.598)
<br />2.742
<br />133.391
<br />2045
<br />4,558.752
<br />-
<br />4,558.752
<br />2,329.124
<br />2046
<br />1,158.317
<br />1,158.317
<br />575.099
<br />2047
<br />104.981
<br />-
<br />104.981
<br />50.652
<br />2048
<br />-
<br />-
<br />-
<br />2049
<br />-
<br />-
<br />2050
<br />2051
<br />-
<br />Cash On Hand 4.253 4.253
<br />Total 1,298,053.610 (86,879.052) (894,362.388) 316,816.423 264,693.169
<br />BofA Securities - Preliminary Analysis 3/10/2021 Page 9 of 18
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