NEW ISSUE - BOOK-ENTRY ONLY RATINGS: Moody’s: “MIG I” Standard & Poor’s: “SP-1+” Fitch: “F1+” (See “RATINGS” herein.) In the opinion of Squire Patton Boggs (US) LLP, Bond Counsel, under existing law (i) assuming continuing compliance with certain covenants and the accuracy of certain representations, interest on the Notes is excluded from gross income for federal income tax purposes, and is not an item of tax preference for purposes of the federal alternative minimum tax; however, interest on the Notes is included in the calculation of a corporation's adjusted current earnings for purposes of, and thus may be subject to, the corporate alternative minimum tax (applicable only to taxable years beginning before January 1, 2018), and (ii) interest on the Notes is exempt from State of California personal income taxes. Interest on the Notes may be subject to certain federal taxes imposed only on certain corporations. For a more complete discussion of the tax aspects, see “TAXMATTERS” herein. $700,000,000 COUNTY OF LOS ANGELES 2018-19 Tax and Revenue Anticipation Notes 4.00% Priced to Yield 1.55% CUSH* No. 544657HV4 Dated: July 2, 2018 Due: June 28, 2019 The County of Los Angeles 2018-19 Tax and Revenue Anticipation Notes (the “Notes”) will be issued in fully registered form. The Notes, when issued, will be registered in the name of Cede & Co., as nominee of The Depository Trust Company (“DTC”), New York, New York, which will act as securities depository for the Notes. Purchases of beneficial interests in the Notes will be made in book-entry only form, in denominations of $5,000 or any integral multiple thereof. Purchasers will not receive certificates representing their ownership interests in the Notes purchased. The Notes will bear interest from their dated date at the fixed rate per annum specified above and will be priced as set forth above. Principal of and interest on the Notes are payable on the maturity date thereof directly to DTC by the Paying Agent. Upon receipt of payments of principal and interest, DTC will in turn distribute such payments to the beneficial owners of the Notes. See APPENDIX D - “BOOK-ENTRY ONLY SYSTEM.” Pursuant to the herein described Financing Certificate, the County may elect on the date of pricing to issue the Notes in multiple series, with different maturity dates, interest rates, yields and CUSIP numbers. The Notes are being issued to provide moneys to help meet Fiscal Year 2018-19 County General Fund expenditures, including current expenses, capital expenditures and the discharge of other obligations or indebtedness of the County of Los Angeles (the “County”). The Notes are being issued pursuant to a resolution adopted by the Board of Supervisors of the County on May 15, 2018 (the “Resolution”) and a Financing Certificate entitled, “Financing Certificate Providing for the Terms and Conditions of Issuance and Sale of County of Los Angeles 2018-19 Tax and Revenue Anticipation Notes” (the “Financing Certificate”) to be delivered on the date of issuance of the Notes pursuant to the Resolution. In accordance with California law, the Notes are general obligations of the County, payable only from unrestricted taxes, income, revenue, cash receipts and other moneys to be received by or accrue to the County during the Fiscal Year 2018-19 that will be available for the payment of the Notes. The Notes and the interest thereon are secured by a pledge by the County of certain taxes, income, revenue, cash receipts and other moneys of the County attributable solely to the County’s Fiscal Year 2018-19. The County is not authorized, however, to levy or collect any tax for the repayment of the Notes. See “THE NOTES - Security for the Notes” herein. The Notes are not subject to redemption prior to maturity. This cover page contains information for quick reference only. It is not a summary of this issue. Investors should read this entire Official Statement to obtain information essential to the making of an informed investment decision. The Notes will be offered when, as and if issued and received by the Underwriters (herein defined), subject to the approval of legality by Squire Patton Boggs (US) LLP, Los Angeles, California, Bond Counsel. Certain legal matters will be passed upon for the County by County Counsel and for the Underwriters by their counsel, Hawkins Delafield & Wood LLP, Los Angeles, California. It is expected that the Notes will be available for delivery through the facilities of DTC on or about July 2, 2018. Goldman Sachs & Co. LLC J.P. Morgan FTN Financial Capital Markets Jefferies The Williams Capital Group, L.P. Dated: June 5, 2018. t Copyright, 2018. American Bankers Association. COUNTY OF LOS ANGELES 2018-19 TAX AND REVENUE ANTICIPATION NOTES Board of Supervisors Sheila Kuehl Third District, Chair Hilda L. Solis First District Mark Ridley-Thomas Second District Janice Hahn Fourth District Kathryn Barger Fifth District Celia Zavala Acting Executive Officer-Clerk Board of Supervisors County Officials Sachi A. Hamai Chief Executive Officer Mary C. Wickham County Counsel Joseph Kelly Treasurer and Tax Collector John Naimo Auditor-Controller No dealer, broker, salesperson or other person has been authorized by the County or the Underwriters to give any information or to make any representations other than those contained herein and, if given or made, such other information or representations must not be relied upon as having been authorized by the County or the Underwriters. 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 Notes, by any person in any jurisdiction in which it is unlawful for such person to make such an offer, solicitation or sale. This Official Statement is not to be construed as a contract with the purchasers of the Notes. Statements contained in this Official Statement which involve estimates, projections, forecasts or matters of opinion, whether or not expressly so described herein, are intended solely as such and are not to be construed as a representation of facts. The information set forth herein has been obtained from official sources which are believed to be reliable but it is not guaranteed as to accuracy or completeness, and is not to be construed as a representation by the Underwriters. The Underwriters have provided the following sentence for inclusion in this Official Statement. The Underwriters have reviewed the information in this Official Statement in accordance with, and as part of, their responsibilities to investors under the federal securities laws as applied to the facts and circumstances of this transaction, but the Underwriters do not guarantee the accuracy or completeness of such information. The information and expressions of opinions herein are subject to change without notice and neither delivery of this Official Statement nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the County since the date hereof. IN MAKING AN INVESTMENT DECISION, INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE COUNTY AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED. THESE SECURIHES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE U.S. SECURIHES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION, NOR HAS THE U.S. SECURIHES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS OFFICIAL STATEMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. IN CONNECTION WITH THIS OFFERING, THE UNDERWRITERS MAY OVER-ALLOT OR EFFECT TRANSACHONS WHICH STABILIZE OR MAINTAIN THE MARKET PRICE OF THE NOTES OFFERED HEREIN AT A LEVEL ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN MARKET. SUCH STABILIZING, IF COMMENCED, MAY BE DISCONHNUED AT ANY TIME. THE UNDERWRITERS MAY OFFER AND SELL THE NOTES TO CERTAIN DEALERS, INSTITUHONAL INVESTORS AND OTHERS AT PRICES LOWER THAN THE PUBLIC OFFERING PRICES STATED ON THE COVER PAGE HEREOF AND SAID PUBLIC OFFERING PRICES MAY BE CHANGED FROM TIME TO TIME BY THE UNDERWRITERS. CUSIP® is a registered trademark of the American Bankers Association. CUSIP data herein is provided by the CUSIP Service Bureau, managed on behalf of the American Bankers Association by Standard & Poor’s. This data is not intended to create a database and does not serve in any way as a substitute for the CUSIP Services Bureau. CUSIP numbers have been assigned by an independent company not affiliated with the County and are included solely for the convenience of the registered owners of the applicable Notes. Neither the County nor the Underwriters are responsible for the selection or uses of these CUSIP numbers, and no representation is made as to their correctness on the applicable Notes or as included herein. The CUSIP number for the Notes is subject to being changed after the issuance of the Notes as a result of various subsequent actions. TABLE OF CONTENTS Page INTRODUCTION........................................................................................................................................ 1 General..................................................................................................................................................... 1 The County............................................................................................................................................... 1 COUNTY OF LOS ANGELES CASH MANAGEMENT PROGRAM......................................................2 THE NOTES.................................................................................................................................................2