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City of Santa Ana
<br /> Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025
<br /> UFI's Bond Financing Experience with Santa Ana Since 2013
<br /> Issue Name C losing Date Principal
<br /> Water Revenue Bonds,Series 2024 6/27/2024 $44,160,000
<br /> 2021Taxable Pension Obligation Bonds 9/8/2021 425,830,000
<br /> 2019 Ref Gas Tax RBs 12/10/2019 44,650,000
<br /> 2018A TABS 11/8/2018 13,605,000
<br /> 2018B TABS 11/8/2018 58,705,000
<br /> Water Revenue Bonds,Series 2014 8/7/2014 $15,690,000
<br /> Total $602,640,000
<br /> Case Studies
<br /> Below, we have highlighted specific project experience with Southern California cities completed in the last three
<br /> years that we believe best demonstrates our capabilities. Notably, each of these projects was completed by staff
<br /> who are assigned to the City's account, ensuring continuity of expertise and a direct connection to the work
<br /> presented.
<br /> el�A1pB City of Ontario
<br /> �? UFI was engaged by the City of Ontario in 2023 via a competitive RFP process. Since January 2024,
<br /> - we have served as the City's MA on a lease revenue financing,three CFD financings,a water revenue
<br /> financing,and four CFD formations.Through ourwork on the 2024 Water Revenue Bonds,we helped
<br /> the City achieve an S&P rating upgrade to"AA+"from"AA." In addition,UFI is actively working with
<br /> the City on four additional CFD formations for residential and industrial development projects in the Ontario Ranch
<br /> area,which is expected to include 24,000 homes at buildout.
<br /> Most recently,UFI served as municipal advisor to the City on a$192.4 million lease revenue financing to fund various
<br /> capital improvements, including offsite improvements for a new professional baseball stadium. Starting late last
<br /> year, UFI began working with City staff and the financing team to evaluate various structuring options to minimize
<br /> borrowing costs for the project,including reducing the need for capitalized interest,and maximizing the use of tax-
<br /> exempt proceeds. Leading up to the bond issuance,UFI's Public Management Group was hired to prepare a financial
<br /> forecast to help the City in assessing its overall fiscal health and to assist with determining cash flow capacity to fund
<br /> its$1 billion CIP program over the next several years.The baseball stadium will be one component of the Ontario
<br /> Regional Sports Complex, which is planned for 190 acres of top-tier athletic facilities, including 20 long fields, 14
<br /> youth diamond fields,8 full-size diamonds,4 football/rugby fields and 2 championship diamond fields.
<br /> The 2025 Lease Revenue Bonds priced on April 29, 2025 and generated extremely strong demand, with over$1
<br /> billion in orders.As a result of the strong demand,the underwriter was able to reduce spreads on most maturities,
<br /> resulting in an attractive true interest cost of 4.60%.
<br /> Looking ahead, UFI is supporting multiple upcoming financings related to the sports complex,including a proposed
<br /> financing for a 200,000-square-foot indoor sports facility that will further expand the City's recreational and
<br /> community-serving infrastructure.
<br /> City of Oceanside
<br /> UFI has been the City of Oceanside's municipal advisor since 2021, when we were engaged by a
<br /> o competitive RFP process, Over the past four years, we have assisted the City with various financing
<br /> assignments including a water revenue bond refinancing, CFD formation, energy lease financing, and
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<br /> most recently a pooled CFD refunding. In addition, UFI has been providing ongoing financial analysis to
<br /> the City as the explore options for constructing a new police headquarters facility.
<br /> In 2024,the UFI team, led by Michael Busch and Branden Kfoury, successfully assisted the City in refunding three of
<br /> its prior CFD bond issues for the Morro Hills CFD and overlapping improvement area. In order to achieve economies
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