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CAPITAL FUNDS
<br />COSA 2014 Lease Financing Debt Service PROGRAMFund 404
<br />PURPOSE:
<br />In June 2014, the Santa Ana Financing Authority executed the 2014 Private Lease Financing in the amount of $45.1 million with three
<br />private placement providers: TPB Investment, Inc. ($22.0 million), Compass Mortgage Corporation ($10.0 million), and Capital One Public Funding, LLC
<br />($13.1 million). Of the proceeds received, the City used $8.0 million to refinance the outstanding 1998 Certificate of Participation (City Hall Expansion
<br />Project). These issues will mature serially beginning on January 1, 2015 through 2028. The remaining $37.0 million of the proceeds was used to partially
<br />advance refund the 1994 Police Administration and Holding Facility Lease Revenue bonds. These issues will mature serially beginning on July 1, 2015
<br />through 2024. The advance refunding resulted in a cash flow difference of $2.6 million and an economic gain of $2.1 million.
<br />ACTUALACTUALADOPTEDPROPOSED
<br />FY 13-14FY 14-15FY 15-16FY 16-17
<br />REVENUES
<br />404190022014 LEASE FINANCING
<br />59000-11Transfer From Fund 1104,960,9454,954,5414,956,840
<br />59000-86Transfer From Fund 860116,091115,765116,105
<br />59000-101Transfer From Fund 101096,46796,59696,885
<br />59301Financing Proceeds45,060,000000
<br />TOTAL LEASE FINANCING DEBT SERVICE FUND45,060,0005,173,5035,166,9025,169,830
<br />ACTUALACTUALADOPTEDPROPOSED
<br />EXPENDITURES
<br />FY 13-14FY 14-15FY 15-16FY 16-17
<br />404190202014 LEASE FINANCING
<br />62300Other Contractual Services13,0006,02911,03211,000
<br />67300Bond Principal03,585,0003,755,0003,885,000
<br />67310Bond Interest01,577,5181,400,8701,273,830
<br />67401Insurance Cost182,815000
<br />67403Payment to Bond Escrow Agent44,856,211000
<br />TOTAL LEASE FINANCING DEBT SERVICE FUND45,052,0265,168,5465,166,9025,169,830
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