> So where's the 5V portion in that circuit?  Or is that a typo?

Sorry, yes it was an early-morning-why-aren't-I-in-bed typo 

And -

> Can't you get the same power savings with as 12V relay and a
> series resistor?

Some existing equipment has the 24V relays built in, so I need to
make them work on nominal 12V (actually SLA voltage of 13.x)
The 24V relays pull in weakly at 13V and drop out at 7V

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