Nov 7, 2025 8:50 am Prepared by DBC Finance (Finance 8.600 Fullerton, City of:FIRE-2025A)
TABLE OF CONTENTS
City of Fullerton
2025 Equipment Lease Financing (Ambulances/Equipment)
**BofA Rate Lock of 3.50%**
Report Page
Sources and Uses of Funds . ...........................1 Bond Summary Statistics . ............................2 Bond Pricing .................................. 3
Bond Debt Service ................................ 4
Cost of Issuance ................................. 6
Proof of Arbitrage Yield . ............................7 Form 8038 Statistics . ..............................8
Nov 7, 2025 8:50 am Prepared by DBC Finance (Fi nance 8.600 Fullerton, City of:FIRE-2025A) Page 1
SOURCES AND USES OF FUNDS
City of Fullerton
2025 Equipment Lease Financing (Ambulances/Equipment)
**BofA Rate Lock of 3.50%**
Dated Date 12/18/2025
Delivery Date 12/18/2025
Sources:
Bond Proceeds:
Par Amount 1,955,000.00
1,955,000.00
Uses:
Project Fund Deposits:
Project Fund 1,908,266.27
Delivery Date Expenses:
Cost of Issuance 42,988.75
Other Uses of Funds:
Additional Proceeds 3,744.98
1,955,000.00
Nov 7, 2025 8:50 am Prepared by DBC Finance (Fi nance 8.600 Fullerton, City of:FIRE-2025A) Page 2
BOND SUMMARY STATISTICS
City of Fullerton
2025 Equipment Lease Financing (Ambulances/Equipment)
**BofA Rate Lock of 3.50%**
Dated Date 12/18/2025
Delivery Date 12/18/2025
Last Maturity 11/01/2031
Arbitrage Yield 3.500977%
True Interest Cost (TIC) 3.500977%
Net Interest Cost (NIC) 3.500000%
All-In TIC 4.255207%
Average Coupon 3.500000%
Average Life (years) 3.210
Duration of Issue (years) 3.016
Par Amount 1,955,000.00
Bond Proceeds 1,955,000.00
Total Interest 219,639.08
Net Interest 219,639.08
Total Debt Service 2,174,639.08
Maximum Annual Debt Service 362,439.85
Average Annual Debt Service 370,501.69
Underwriter's Fees (per $1000)
Average Takedown
Other Fee
Total Underwriter's Discount
Bid Price 100.000000
Par Average Average PV of 1 bp
Bond Component Value Price Coupon Life change
Term Bond 1,955,000.00 100.000 3.500% 3.210 589.14
1,955,000.00 3.210 589.14
All-In Arbitrage
TIC TIC Yield
Par Value 1,955,000.00 1, 955,000.00 1,955,000.00
+ Accrued Interest
+ Premium (Discount)
- Underwriter's Discount
- Cost of Issuance Expense -42,988.75
- Other Amounts
Target Value 1,955,000.00 1, 912,011.25 1,955,000.00
Target Date 12/18/2025 12/18/2025 12/18/2025
Yield 3.500977% 4.255207% 3.500977%
Nov 7, 2025 8:50 am Prepared by DBC Finance (Fi nance 8.600 Fullerton, City of:FIRE-2025A) Page 3
BOND PRICING
City of Fullerton
2025 Equipment Lease Financing (Ambulances/Equipment)
**BofA Rate Lock of 3.50%**
Maturity
Bond Component Date Amount Rate Yield Price
Term Bond:
05/01/2026 155,940.69 3.500% 3.500% 100.000
11/01/2026 149,736.38 3.500% 3.500% 100.000
05/01/2027 152,356.77 3.500% 3.500% 100.000
11/01/2027 155,023.02 3.500% 3.500% 100.000
05/01/2028 157,735.92 3.500% 3.500% 100.000
11/01/2028 160,496.30 3.500% 3.500% 100.000
05/01/2029 163,304.98 3.500% 3.500% 100.000
11/01/2029 166,162.82 3.500% 3.500% 100.000
05/01/2030 169,070.67 3.500% 3.500% 100.000
11/01/2030 172,029.41 3.500% 3.500% 100.000
05/01/2031 175,039.92 3.500% 3.500% 100.000
11/01/2031 178,103.12 3.500% 3.500% 100.000
1,955,000.00
Dated Date 12/18/2025
Delivery Date 12/18/2025
First Coupon 05/01/2026
Par Amount 1,955,000.00
Original Issue Discount
Production 1,955,000.00 100.000000%
Underwriter's Discount
Purchase Price 1,955,000.00 100.000000%
Accrued Interest
Net Proceeds 1,955,000.00
Nov 7, 2025 8:50 am Prepared by DBC Finance (Fi nance 8.600 Fullerton, City of:FIRE-2025A) Page 4
BOND DEBT SERVICE
City of Fullerton
2025 Equipment Lease Financing (Ambulances/Equipment)
**BofA Rate Lock of 3.50%**
Period
Ending Principal Coupon Interest Debt Service
11/01/2026 305,677.07 3.500% 56,762.78 362,439.85
11/01/2027 307,379.79 3.500% 55,060.06 362,439.85
11/01/2028 318,232.22 3.500% 44,207.63 362,439.85
11/01/2029 329,467.80 3.500% 32,972.04 362,439.84
11/01/2030 341,100.08 3.500% 21,339.77 362,439.85
11/01/2031 353,143.04 3.500% 9,296.80 362,439.84
1,955,000.00 219,639.08 2,174,639.08
Nov 7, 2025 8:50 am Prepared by DBC Finance (Fi nance 8.600 Fullerton, City of:FIRE-2025A) Page 5
BOND DEBT SERVICE
City of Fullerton
2025 Equipment Lease Financing (Ambulances/Equipment)
**BofA Rate Lock of 3.50%**
Period Annual
Ending Principal Coupon Interest Debt Service Debt Service 05/01/2026 155,940.69 3.500% 25,279.24 181,219.93
11/01/2026 149,736.38 3.500% 31,483.54 181,219.92 362,439.85 05/01/2027 152,356.77 3.500% 28,863.15 181,219.92
11/01/2027 155,023.02 3.500% 26,196.91 181,219.93 362,439.85 05/01/2028 157,735.92 3.500% 23,484.00 181,219.92
11/01/2028 160,496.30 3.500% 20,723.63 181,219.93 362,439.85 05/01/2029 163,304.98 3.500% 17,914.94 181,219.92
11/01/2029 166,162.82 3.500% 15,057.10 181,219.92 362,439.84 05/01/2030 169,070.67 3.500% 12,149.25 181,219.92
11/01/2030 172,029.41 3.500% 9,190. 52 181,219.93 362,439.85 05/01/2031 175,039.92 3.500% 6,180.00 181,219.92
11/01/2031 178,103.12 3.500% 3,116. 80 181,219.92 362,439.84 1,955,000.00 219,639.08 2,17 4,639.08 2,174,639.08
Nov 7, 2025 8:50 am Prepared by DBC Finance (Fi nance 8.600 Fullerton, City of:FIRE-2025A) Page 6
COST OF ISSUANCE
City of Fullerton
2025 Equipment Lease Financing (Ambulances/Equipment)
**BofA Rate Lock of 3.50%**
Cost of Issuance $/1000 Amount
Bond Counsel 12.78772 25,000.00
Municipal Advisor 8.95141 17,500.00
CDIAC 0.25000 488.75
21.98913 42,988.75
Nov 7, 2025 8:50 am Prepared by DBC Finance (Fi nance 8.600 Fullerton, City of:FIRE-2025A) Page 7
PROOF OF ARBITRAGE YIELD
City of Fullerton
2025 Equipment Lease Financing (Ambulances/Equipment)
**BofA Rate Lock of 3.50%**
Present Value
to 12/18/2025
Date Debt Service @ 3.5009766265%
05/01/2026 181,219.93 178,911.11
11/01/2026 181,219.92 175,833.17
05/01/2027 181,219.92 172,808.18
11/01/2027 181,219.93 169,835.24
05/01/2028 181,219.92 166,913.43
11/01/2028 181,219.93 164,041.91
05/01/2029 181,219.92 161,219.77
11/01/2029 181,219.92 158,446.18
05/01/2030 181,219.92 155,720.32
11/01/2030 181,219.93 153,041.35
05/01/2031 181,219.92 150,408.46
11/01/2031 181,219.92 147,820.88
2,174,639.08 1,955,000.00
Proceeds Summary
Delivery date 12/18/2025
Par Value 1,955,000.00
Target for yield calculation 1,955,000.00
Nov 7, 2025 8:50 am Prepared by DBC Finance (Fi nance 8.600 Fullerton, City of:FIRE-2025A) Page 8 FORM 8038 STATISTICS
City of Fullerton
2025 Equipment Lease Financing (Ambulances/Equipment)
**BofA Rate Lock of 3.50%**
Dated Date 12/18/2025
Delivery Date 12/18/2025
Redemption
Bond Component Date Principal Coupon Price Issue Price at Maturity Term Bond:
05/01/2026 155,940.69 3.500% 100.000 155,940.69 155,940.69 11/01/2026 149,736.38 3.500% 100.000 149,736.38 149,736.38 05/01/2027 152,356.77 3.500% 100.000 152,356.77 152,356.77 11/01/2027 155,023.02 3.500% 100.000 155,023.02 155,023.02 05/01/2028 157,735.92 3.500% 100.000 157,735.92 157,735.92 11/01/2028 160,496.30 3.500% 100.000 160,496.30 160,496.30 05/01/2029 163,304.98 3.500% 100.000 163,304.98 163,304.98 11/01/2029 166,162.82 3.500% 100.000 166,162.82 166,162.82 05/01/2030 169,070.67 3.500% 100.000 169,070.67 169,070.67 11/01/2030 172,029.41 3.500% 100.000 172,029.41 172,029.41 05/01/2031 175,039.92 3.500% 100.000 175,039.92 175,039.92 11/01/2031 178,103.12 3.500% 100.000 178,103.12 178,103.12 1,955,000.00 1,955,000.00 1,955,000.00
Stated Weighted
Maturity Interest Issue Redemption Average
Date Rate Price at Maturity Maturity Yield
Final Maturity 11/01/2031 3.500% 178,103.12 178,103.12
Entire Issue 1,955,000.00 1,955,000.00 3.2099 3.5010%
Proceeds used for accrued interest 0.00
Proceeds used for bond issuance costs (including underwriters' discount) 42,988.75 Proceeds used for credit enhancement 0.00
Proceeds allocated to reasonably required reserve or replacement fund 0.00