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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 />Savings - Misc.
<br />GF Allocation
<br />Savings - Safety
<br />GF Allocation
<br />2022
<br />7,055.027
<br />100.000%
<br />12,949.517
<br />100.000%
<br />2023
<br />7,057.045
<br />100.000%
<br />12,945.310
<br />100.000%
<br />2024
<br />7,056.014
<br />100.000%
<br />12,948.147
<br />100.000%
<br />2025
<br />7,759.482
<br />100.000%
<br />12,947.691
<br />100.000%
<br />2026
<br />8,538.135
<br />100.000%
<br />14,165.093
<br />100.000%
<br />2027
<br />7,047.196
<br />100.000%
<br />17,523.330
<br />100.000%
<br />2028
<br />7,047.628
<br />100.000%
<br />19,053.886
<br />100.000%
<br />2029
<br />7,140.951
<br />100.000%
<br />15,316.222
<br />100.000%
<br />2030
<br />11,184.421
<br />100.000%
<br />13,102.523
<br />100.000%
<br />2031
<br />12,080.125
<br />100.000%
<br />14,115.444
<br />100.000%
<br />2032
<br />8,128.323
<br />100.000%
<br />12,943.425
<br />100.000%
<br />2033
<br />7,635.564
<br />100.000%
<br />12,572.145
<br />100.000%
<br />2034
<br />6,654.255
<br />100.000%
<br />8,329.896
<br />100.000%
<br />2035
<br />4,067.864
<br />100.000%
<br />8,792.111
<br />100.000%
<br />2036
<br />2,549.368
<br />100.000%
<br />7,053.625
<br />100.000%
<br />2037
<br />88.063
<br />100.000%
<br />3,820.468
<br />100.000%
<br />2038
<br />3.849
<br />100.000%
<br />1,290.748
<br />100.000%
<br />2039
<br />5.205
<br />100.000%
<br />0.713
<br />100.000%
<br />2040
<br />1.686
<br />100.000%
<br />3.335
<br />100.000%
<br />2041
<br />3.042
<br />100.000%
<br />1.176
<br />100.000%
<br />2042
<br />2.329
<br />100.000%
<br />0.592
<br />100.000%
<br />2043
<br />3.750
<br />100.000%
<br />2.663
<br />100.000%
<br />2044
<br />0.196
<br />100.000%
<br />2.546
<br />100.000%
<br />2045
<br />-
<br />100.000%
<br />4,558.752
<br />100.000%
<br />2046
<br />100.000%
<br />1,158.317
<br />100.000%
<br />2047
<br />100.000%
<br />104.981
<br />100.000%
<br />2048
<br />100.000%
<br />-
<br />100.000%
<br />2049
<br />100.000%
<br />100.000%
<br />2050
<br />100.000%
<br />100.000%
<br />2051
<br />100.000%
<br />100.000%
<br />To be Updated with City's feedback
<br />Savings to GF
<br />20,004.544
<br />20,002.355
<br />20,004.161
<br />20,707.173
<br />22,703.228
<br />24,570.526
<br />26,101.514
<br />22,457.173
<br />24,286.944
<br />26,195.569
<br />21,071.748
<br />20,207.709
<br />14,984.151
<br />12,859.975
<br />9,602.993
<br />3,908.530
<br />1,294.597
<br />5.918
<br />5.021
<br />4.217
<br />2.921
<br />6.413
<br />2.742
<br />4,558.752
<br />1,158.317
<br />104.981
<br />Cash On Hand 3.961 100.000% 0.293 100.000% 4.253
<br />Total 111,113.474 100.000% 205,702.949 100.000% 316,816.423
<br />BofA Securities - Preliminary Analysis 3/10/2021 Page 12 of 18
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