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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 />26,113.042
<br />(19,058.015)
<br />7,055.027
<br />7,345.712
<br />2023
<br />28,212.056
<br />(12,957.869)
<br />(8,197.143)
<br />7,057.045
<br />6,507.624
<br />2024
<br />29,562.724
<br />(13,100.589)
<br />(9,406.122)
<br />7,056.014
<br />6,110.672
<br />2025
<br />30,992.098
<br />(13,271.450)
<br />(9,961.167)
<br />7,759.482
<br />6,278.042
<br />2026
<br />31,910.742
<br />(13,633.279)
<br />(9,739.328)
<br />8,538.135
<br />6,439.270
<br />2027
<br />32,768.782
<br />(14,005.059)
<br />(11,716.527)
<br />7,047.196
<br />5,026.465
<br />2028
<br />33,650.418
<br />(14,387.063)
<br />(12,215.727)
<br />7,047.628
<br />4,709.198
<br />2029
<br />28,951.341
<br />(5,523.743)
<br />(16,286.647)
<br />7,140.951
<br />4,524.805
<br />2030
<br />29,703.976
<br />(18,519.555)
<br />11,184.421
<br />6,546.286
<br />2031
<br />30,501.330
<br />(18,421.205)
<br />12,080.125
<br />6,591.622
<br />2032
<br />26,643.217
<br />(18,514.895)
<br />8,128.323
<br />4,219.187
<br />2033
<br />26,135.643
<br />(18,500.080)
<br />7,635.564
<br />3,716.856
<br />2034
<br />23,677.362
<br />(17,023.107)
<br />6,654.255
<br />3,036.720
<br />2035
<br />22,594.351
<br />(18,526.487)
<br />4,067.864
<br />1,817.149
<br />2036
<br />21,070.280
<br />(18,520.912)
<br />2,549.368
<br />1,131.314
<br />2037
<br />18,429.389
<br />(18,341.326)
<br />88.063
<br />192.787
<br />2038
<br />17,025.951
<br />(17,022.102)
<br />3.849
<br />143.302
<br />2039
<br />15,729.153
<br />(15,723.948)
<br />5.205
<br />125.758
<br />2040
<br />14,633.708
<br />(14,632.022)
<br />1.686
<br />110.726
<br />2041
<br />13,883.678
<br />(13,880.636)
<br />3.042
<br />99.486
<br />2042
<br />7,392.007
<br />(7,389.678)
<br />2.329
<br />49.685
<br />2043
<br />5,279.598
<br />(5,275.848)
<br />3.750
<br />33.977
<br />2044
<br />2,837.096
<br />(2,836.900)
<br />0.196
<br />16.952
<br />2045
<br />-
<br />-
<br />-
<br />-
<br />2046
<br />2047
<br />-
<br />-
<br />2048
<br />2049
<br />-
<br />2050
<br />2051
<br />-
<br />-
<br />Cash On Hand 3.961 3.961
<br />Total 517,697.940 (86,879.052) (319,709.374) 111,113.474 74,777.556
<br />BofA Securities - Preliminary Analysis 3/10/2021 Page 10 of 18
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