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$174,150,000 Prince George's County, Maryland General

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$174,150,000 Prince George's County, Maryland General NEW ISSUES – BOOK ENTRY ONLY Fitch: AAA Moody’s Investors Service: Aaa Standard & Poor’s: AAA (See “Ratings herein”) $174,150,000 PRINCE GEORGE’S COUNTY, MARYLAND GENERAL OBLIGATION BONDS Consisting of $115,800,000 $58,350,000 Consolidated Public Improvement Bonds Consolidated Public Improvement Refunding Bonds Series 2016A Series 2016B Dated: Date of delivery Due: July 1, for the Series 2016A Bonds and July 15, for the Series 2016B as shown on the inside front cover Interest Payable: Semi-annually on January 1 and July 1 for the Series 2016A Bonds and January 15 and July 15 for the Series 2016B Bonds Denomination: Integral multiples of $5,000 Form: Registered, book entry only through the facility of The Depository Trust Company First Interest Payment Due: January 1, 2017 for the Series 2016A Bonds and January 15, 2017 for the Series 2016B Bonds (Interest from date of delivery) Optional Redemption: The Series 2016A Bonds which mature before July 1, 2027 are not subject to redemption. The Series 2016A Bonds maturing on or after July 1, 2027 are subject to redemption at any time at par beginning July 1, 2026. The Series 2016B Refunding Bonds which mature before July 15, 2027 are not subject to redemption. The Series 2016B Refunding Bonds maturing on or after July 15, 2027 are subject to redemption at any time at par beginning July 15, 2026. See “THE BONDS – Redemption Provisions” herein. Security: The Bonds are general obligations of Prince George’s County, Maryland (the “County”) for the payments of which the full faith and credit and limited taxing power are pledged (see “THE BONDS-Security for the Bonds” herein). Tax Matters: See the information contained herein under the caption “THE BONDS – Tax Matters.” Registrar/Paying Agent: Prince George’s County, Maryland Escrow Deposit Agent: ZB, National Association Book Entry Only Form: The Depository Trust Company, New York, NY Notice: This Official Statement has been prepared by Prince George’s County, Maryland (the “County”) to provide information on the Consolidated Public Improvement Bonds and Refunding Bonds and the County. Selected information is presented on this cover page in summary form for the convenience of the user. To make an informed decision regarding the Bonds and the County, a prospective investor should read this Official Statement in its entirety. Conditions Affecting Issuance: The Bonds are offered when and if issued subject to, among other conditions, the delivery of the Bonds and the opinions of the County’s Bond Counsel, Graves, Horton, Askew & Jenkins, LLC. Certain other legal matters will be passed on by, and opinions will be delivered by, the County’s Tax Counsel, McKennon Shelton & Henn LLP. It is expected that the Bonds will be available for delivery in New York, New York through the facilities of the Depository Trust Company, and certain closing documents will be available for delivery in Washington, D.C. on or about June 22, 2016 or at such time or place as shall be mutually agreed upon by the County and the successful bidders for the Series 2016A Bonds and the Series 2016B Bonds. The Date of this Official Statement is June 7, 2016 $115,800,000 Consolidated Public Improvement Bonds, Series 2016A MATURITIES, PRINCIPAL AMOUNTS, INTEREST RATES, PRICES OR YIELDS AND CUSIPS Maturity Principal Interest Price or CUSIP Maturity Principal Interest Price or CUSIP July 1 Amount Rate * Yield * (741701) July 1 Amount Rate * Yield * (741701) 2017 $2,920,000 5.00 % 0.660 % 741701Y83 2027 $8,655,000 4.00 % 1.950 % ** 7417012A3 2018 3,995,000 5.00 0.770 741701Y91 2028 8,655,000 4.00 2.000 ** 7417012B1 2019 4,350,000 5.00 0.910 741701Z25 2029 7,945,000 4.00 2.060 ** 7417012C9 2020 4,710,000 5.00 1.040 741701Z33 2030 6,530,000 4.00 2.110 ** 7417012D7 2021 5,425,000 5.00 1.150 741701Z41 2031 5,460,000 4.00 2.160 ** 7417012E5 2022 6,140,000 5.00 1.270 741701Z58 2032 4,750,000 4.00 2.210 ** 7417012F2 2023 7,215,000 5.00 1.370 741701Z66 2033 4,400,000 4.00 2.260 ** 7417012G0 2024 7,935,000 5.00 1.470 741701Z74 2034 3,685,000 4.00 2.310 ** 7417012H8 2025 9,355,000 5.00 1.590 741701Z82 2035 2,620,000 4.00 2.360 ** 7417012J4 2026 9,365,000 4.00 1.730 741701Z90 2036 1,690,000 4.00 2.410 ** 7417012K1 $58,350,000 Consolidated Public Improvement Refunding Bonds, Series 2016B MATURITIES, PRINCIPAL AMOUNTS, INTEREST RATES, PRICES OR YIELDS AND CUSIPS Maturity Principal Interest Price or CUSIP Maturity Principal Interest Price or CUSIP July 15 Amount Rate * Yield * (741701) July 15 Amount Rate * Yield * (741701) 2019 $ 7,280,000 4.00 % 0.920 % 7417012L9 2024 $6,205,000 4.00 % 1.480 % 7417012R6 2020 7,430,000 4.00 1.050 7417012M7 2025 5,325,000 4.00 1.600 7417012S4 2021 7,375,000 4.00 1.160 7417012N5 2026 4,290,000 4.00 1.740 7417012T2 2022 7,045,000 4.00 1.280 7417012P0 2027 4,045,000 3.00 2.000 ** 7417012U9 2023 6,800,000 5.00 1.380 7417012Q8 2028 2,555,000 3.00 2.150 ** 7417012V7 * The interest rates and prices or yields shown above are those resulting from the successful bids for each series of Bonds on June 7, 2016, and were furnished by the successful bidders. Other information concerning the terms of the reoffering of either series of Bonds, if any, should be obtained from the successful bidders and not from the County. ** Priced to par call. Purpose: The Series 2016A Bonds are being issued to: (1) provide funds for financing in whole or in part the costs of construction, reconstruction, establishment, enlargement, demolition, acquisition, rehabilitation or repair of certain capital projects including an enterprise resource program; public school facilities; roads and bridges; public buildings; police, fire and correctional facilities; Community College, health and library facilities; and environmental resource facilities and (2) pay the costs and expenses of issuing and delivering the Series 2016A Bonds. The Series 2016B Refunding Bonds are being issued to: (1) provide funds to advance refund certain maturities of certain general obligation bonds originally issued to finance certain public improvement projects, including portions of the County's Consolidated Public Improvement Bonds, Series 2008 (the "Refunded Bonds”) and (2) pay the costs and expenses of issuing and delivering the Series 2016B Bonds. Authority of The Bonds are being issued under the authority of Maryland Local Government Code Annotated Section 10-203 of the Issuance: Annotated Code of Maryland, as amended (the “Enabling Law”), Maryland Local Government Code Annotated Section 19-207 of the Annotated Code of Maryland, as amended (the “Refunding Act”), the County Charter, the Authorization Ordinances, the bond enabling laws cited in the Authorization Ordinances (the “Enabling Acts”), and certain other authority as defined in “THE BONDS” section. Limitations on No dealer, broker, sales representative or other person has been authorized by the County or the successful bidder(s) to Offering provide any information or to make any representations other than those contained in this Official Statement and, if or Reoffering provided or made, such other information or representations must not be relied upon as having been authorized by any Securities: of the foregoing. This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Bonds by any person in any jurisdiction in which it is unlawful for such person to make such an offer, solicitation or sale. Litigation: There is no litigation now pending or, to the knowledge of County Officers, threatened which questions the validity of the Bonds or of any proceedings of the County taken with respect to the issuance or sale thereof. Continuing The County will agree with the purchasers of the Bonds, by executing a supplement to the Continuing Disclosure Agreement Disclosure: executed in connection with the issuance of its General Obligation Public Improvement Bonds, Series 2016A and its General Obligation Consolidated Public Improvement Refunding Bonds, Series 2016B (the “Continuing Disclosure Agreement”) prior to the issuance of the Bonds, to provide notices of occurrence of certain enumerated events and certain financial information and operating data relating to the County annually to the Electronic Municipal Market Access (EMMA) System. See “THE BONDS, Continuing Disclosure herein.” No Contract or This Official Statement is presented for the guidance of prospective purchasers of the Bonds described herein. This Investment Official Statement is not a contract and does not provide investment advice. Investors should consult their financial Advice: advisors and/or legal counsel with questions about this Official Statement or anything else related to this bond issue. PRINCE GEORGE’S No dealer, broker, sales representative or other person has been authorized by the County or the successful COUNTY, MARYLAND bidder(s) to provide any information or to make any representations other than those contained in this Official County Administration Building Statement and, if given or made, such other information 14741 Governor Oden Bowie Drive or representations must not be relied upon as having been Upper Marlboro, Maryland 20772 authorized by any of the foregoing. This Official http://www.princegeorgescountymd.gov/Pages/default.aspx Statement does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale County Executive of the Bonds by any person in any jurisdiction in which it Rushern L. Baker, III is unlawful for such person to make such an offer, solicitation or sale.
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