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City of Santa Ana
<br />Pension Obligation Bonds
<br />Scenario 2 - Fresh Start
<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 />(36,211.497)
<br />20,004.515
<br />20,165.654
<br />2023
<br />61,071.833
<br />(9,653.048)
<br />(31,416.499)
<br />20,002.286
<br />19,430.955
<br />2024
<br />64,221.346
<br />(9,653.048)
<br />(34,564.636)
<br />20,003.661
<br />18,920.003
<br />2025
<br />67,531.864
<br />(9,653.048)
<br />(37,585.066)
<br />20,293.750
<br />18,682.944
<br />2026
<br />69,529.201
<br />(9,653.048)
<br />(37,585.308)
<br />22,290.845
<br />19,916.155
<br />2027
<br />71,395.317
<br />(9,653.048)
<br />(37,583.972)
<br />24,158.298
<br />20,954.406
<br />2028
<br />72,927.794
<br />(9,653.048)
<br />(37,581.096)
<br />25,693.650
<br />21,642.705
<br />2029
<br />69,282.413
<br />(9,653.048)
<br />(37,581.874)
<br />22,047.491
<br />18,089.392
<br />2030
<br />71,117.721
<br />(9,653.048)
<br />(37,582.589)
<br />23,882.084
<br />19,023.052
<br />2031
<br />73,027.521
<br />(9,653.048)
<br />(37,584.176)
<br />25,790.297
<br />19,946.116
<br />2032
<br />67,895.667
<br />(9,653.048)
<br />(37,584.824)
<br />20,657.795
<br />15,580.936
<br />2033
<br />67,036.958
<br />(47,237.614)
<br />19,799.344
<br />14,608.713
<br />2034
<br />61,813.905
<br />(47,234.321)
<br />14,579.584
<br />10,545.656
<br />2035
<br />59,692.424
<br />(47,237.741)
<br />12,454.683
<br />8,806.823
<br />2036
<br />56,436.917
<br />(47,234.316)
<br />9,202.601
<br />6,412.227
<br />2037
<br />50,733.458
<br />(47,238.786)
<br />3,494.672
<br />2,567.734
<br />2038
<br />48,123.557
<br />(47,220.494)
<br />903.063
<br />881.647
<br />2039
<br />45,140.358
<br />(45,118.966)
<br />21.392
<br />311.882
<br />2040
<br />42,838.845
<br />(42,833.824)
<br />5.021
<br />282.679
<br />2041
<br />41,490.921
<br />(41,486.704)
<br />4.217
<br />270.033
<br />2042
<br />27,326.929
<br />(27,324.008)
<br />2.921
<br />173.049
<br />2043
<br />25,812.261
<br />(25,805.848)
<br />6.413
<br />163.387
<br />2044
<br />21,568.340
<br />(21,565.598)
<br />2.742
<br />133.318
<br />2045
<br />4,558.752
<br />-
<br />4,558.752
<br />2,331.637
<br />2046
<br />1,158.317
<br />1,158.317
<br />575.746
<br />2047
<br />104.981
<br />-
<br />104.981
<br />50.711
<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 (96,530.481) (890,399.754) 311,127.629 260,471.814
<br />BofA Securities - Preliminary Analysis 3/10/2021 Page 9 of 18
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