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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 />30,102.970
<br />(17,150.623)
<br />12,952.347
<br />13,009.234
<br />2023
<br />32,859.777
<br />(0.000)
<br />(19,909.132)
<br />12,950.645
<br />12,065.840
<br />2024
<br />34,658.621
<br />(0.000)
<br />(21,710.445)
<br />12,948.176
<br />11,320.095
<br />2025
<br />36,539.766
<br />(0.000)
<br />(23,297.465)
<br />13,242.301
<br />10,844.011
<br />2026
<br />37,618.460
<br />(0.000)
<br />(22,457.769)
<br />15,160.691
<br />11,537.881
<br />2027
<br />38,626.535
<br />(0.000)
<br />(21,521.706)
<br />17,104.830
<br />12,110.818
<br />2028
<br />39,277.376
<br />(0.000)
<br />(20,701.278)
<br />18,576.098
<br />12,258.373
<br />2029
<br />40,331.072
<br />(0.000)
<br />(25,400.024)
<br />14,931.048
<br />9,333.874
<br />2030
<br />41,413.745
<br />(0.000)
<br />(26,494.516)
<br />14,919.229
<br />8,737.166
<br />2031
<br />42,526.191
<br />(0.000)
<br />(23,786.229)
<br />18,739.962
<br />10,143.839
<br />2032
<br />41,252.450
<br />(27,700.544)
<br />13,551.906
<br />6,982.939
<br />2033
<br />40,901.314
<br />(30,300.779)
<br />10,600.536
<br />5,201.210
<br />2034
<br />38,136.543
<br />(30,298.886)
<br />7,837.657
<br />3,676.455
<br />2035
<br />37,098.073
<br />(30,300.119)
<br />6,797.954
<br />3,022.042
<br />2036
<br />35,366.637
<br />(30,297.256)
<br />5,069.381
<br />2,180.618
<br />2037
<br />32,304.070
<br />(30,299.228)
<br />2,004.842
<br />964.146
<br />2038
<br />31,097.606
<br />(30,332.342)
<br />765.264
<br />498.793
<br />2039
<br />29,411.205
<br />(29,389.860)
<br />21.345
<br />234.096
<br />2040
<br />28,205.137
<br />(28,201.802)
<br />3.335
<br />209.417
<br />2041
<br />27,607.244
<br />(27,606.068)
<br />1.176
<br />192.938
<br />2042
<br />19,934.922
<br />(19,934.330)
<br />0.592
<br />130.493
<br />2043
<br />20,532.663
<br />(20,530.000)
<br />2.663
<br />128.533
<br />2044
<br />18,731.244
<br />(18,728.698)
<br />2.546
<br />112.192
<br />2045
<br />4,558.752
<br />-
<br />4,558.752
<br />931.800
<br />2046
<br />1,158.317
<br />1,158.317
<br />221.279
<br />2047
<br />104.981
<br />-
<br />104.981
<br />18.744
<br />2048
<br />-
<br />-
<br />-
<br />2049
<br />-
<br />-
<br />2050
<br />2051
<br />-
<br />-
<br />Cash On Hand 0.293 0.293
<br />Total 780,355.670 (0.000) (576,349.095) 204,006.868 136,067.118
<br />BofA Securities - Preliminary Analysis 3/10/2021 Page 11 of 18
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