PRELIMINARY OFFICIAL STATEMENT DATED NOVEMBER 18, 2019 NEW ISSUE (BOOK-ENTRY ONLY) RATING: S&P: “SP-1+” See “RATING” herein In the opinion of Wilentz, Goldman & Spitzer, P.A., Woodbridge, New Jersey, Bond Counsel to the County (“Bond Counsel”), under existing statutes, regulations, rulings and court decisions, and assuming continuing compliance with certain covenants described herein, interest on the Notes (as defined herein) (i) is not includable in gross income for Federal income tax purposes pursuant to section 103 of the Internal Revenue Code of 1986, as amended (the “Code”), and (ii) will not be treated as a preference item under section 57 of the Code for purposes of calculating the Federal alternative minimum tax. Bond Counsel is further of the opinion that, under existing laws of the State of New Jersey, interest on the Notes and any gain on the sale thereof is not includable in gross income under the New Jersey Gross Income Tax Act. See “TAX MATTERS” herein. COUNTY OF HUDSON STATE OF NEW JERSEY $182,121,155 BOND ANTICIPATION NOTES Dated Date: December 9, 2019 Maturity Date: December 8, 2020 Coupon: _____% the Securities and Exchange Commission, and is otherwise subject to change Price: ________ Yield: _____% ment constitute ment an constitute offer to sell or a of solicitation an offer to buy, nor shall there Cusip: ________* 12 of - The $182,121,155 aggregate principal amount of Bond Anticipation Notes, dated December 9, 2019 (the “Notes”) are general obligations of the County of Hudson, State of New Jersey (the “County”), payable in the first instance from the proceeds of the sale of the bonds in anticipation of the issuance of which the Notes are issued, but if not so paid or if not paid from other sources, are payable ultimately from ad valorem taxes he securities law of any such jurisdiction. any such of law securities he levied upon all taxable property within the County without limitation as to rate or amount for the payment of the Notes and the interest thereon. The Notes will be in fully registered book-entry only form and, when issued, will be registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York (“DTC”), acting as securities depository for the Notes. Individual purchases of the Notes may be made in the principal amount of $5,000 or any integral multiple of $1 in excess thereof through book entries made on the books and records of DTC and its participants. Principal of and interest on the Notes will be payable by the County or a duly designated paying agent on the maturity date. As long as DTC is acting as securities depository for the Notes, principal and interest will be payable by wire transfer to DTC or its nominee, which is obligated to remit such principal and interest to DTC Participants. DTC Participants and Indirect Participants will be responsible for remitting such payments to the Beneficial Owners of the Notes. See “THE DEPOSITORY TRUST COMPANY (“DTC”) INFORMATION” herein. information permitted to be omitted by Rule 15c2 The Notes are authorized by and are issued pursuant to the Local Bond Law, N.J.S.A. 40A:2-1 et seq., as amended and supplemented stration, qualification or exemption under t exemptionunder or qualification stration, (the “Local Bond Law”), and by various bond ordinances duly adopted by the Board of Chosen Freeholders of the County on the dates set forth 12. 12. Under no circumstances shall this Preliminary Official State - herein. The Notes are being issued to provide for the current refunding of a $182,121,155 principal portion of prior Bond Anticipation Notes of the County issued in the aggregate principal amount of $202,121,155 on December 11, 2018 and maturing on December 10, 2019 (the “Prior Notes”), which Prior Notes were originally issued to temporarily finance the cost of various capital improvements, including the acquisition and installation of various capital items and the acquisition of property, in and for the County (the remaining portion of such Prior Notes is being paid by a 2019 budgetary appropriation of the County in the amount of $20,000,000). The Notes are not subject to redemption prior to maturity. The Notes are not a debt or obligation, legal, moral or otherwise of the State of New Jersey, or any county, municipality or political subdivision thereof other than the County. The Notes are offered when, as and if issued and delivered subject to the approval of the legality thereof by Wilentz, Goldman & Spitzer, P.A., Woodbridge, New Jersey, Bond Counsel, and certain other conditions. NW Financial Group, LLC, Hoboken, New Jersey, has served as Municipal Advisor to the County in connection with the issuance of the Notes. Certain legal matters will be passed upon for the County by Donato J. Battista, Esq., Jersey City, New Jersey, County Counsel. It is anticipated that the Notes will be available for delivery through DTC on or about December 9, 2019. Proposals for the Notes will be received by the Municipal Advisor, on behalf of the Director of the Department of Finance and Administration/County Treasurer of the County, until 11:00 a.m. on November 26, 2019, via electronic submission via PARITY, all in accordance with the Notice of Sale posted on MuniHub at www.MuniHub.com. * “CUSIP” is a registered trademark of the American Bankers Association. CUSIP numbers are provided by CUSIP Global Services, which is managed on behalf of the American Bankers Association by S&P Global Market Intelligence. The CUSIP number listed above for the Notes is being provided solely for the convenience of holders of the Notes only at the time of issuance of the Notes. The County does not make any representations with respect to such CUSIP number or undertake any responsibility for its accuracy now or at any time in the future. The CUSIP number for a specified maturity of the Notes is subject to being changed after the issuance of the Notes as a result of various subsequent actions, including, but not limited to, a refunding in whole or in part of such maturity or as a result of the procurement of secondary market portfolio insurance or other similar enhancement by investors that is applicable to all or a portion of certain maturities of the Notes. This This is a Preliminary Official Statement "deemed final" by the County within the meaning of and with the exception of certain in accordance with applicable law. The County will deliver a final Official Statement in compliance with Rule 15c2 regi to prior unlawful would be sale or solicitation offer, which such in any jurisdiction in securities these of any sale be COUNTY OF HUDSON STATE OF NEW JERSEY COUNTY EXECUTIVE Thomas A. DeGise COUNTY ADMINISTRATOR Abraham A. Antun COUNTY COUNSEL Donato J. Battista, Esq. DIRECTOR OF THE DEPARTMENT OF FINANCE AND ADMINISTRATION/COUNTY TREASURER Cheryl G. Fuller BOARD OF CHOSEN FREEHOLDERS Anthony P. Vainieri, Jr., Chairperson William O’Dea, Vice Chairperson Anthony L. Romano, Jr., Chairperson Pro Tempore Albert J. Cifelli Kenneth Kopacz Tilo E. Rivas Caridad Rodriguez Joel Torres Jerry Walker CLERK OF THE BOARD OF CHOSEN FREEHOLDERS Alberto G. Santos COUNSEL TO THE BOARD OF CHOSEN FREEHOLDERS Edward J. Florio, Esq. COUNTY CLERK E. Junior Maldonado BOND COUNSEL Wilentz, Goldman & Spitzer, P.A. Woodbridge, New Jersey INDEPENDENT AUDITOR Donohue, Gironda, Doria & Tomkins, LLC Bayonne, New Jersey MUNICIPAL ADVISOR NW Financial Group, LLC Hoboken, New Jersey No dealer, broker, salesperson or other person has been authorized by the County to give any information or to make any representations with respect to the Notes other than those contained in this Official Statement and if given or made, such information or representation must not be relied upon as having been authorized by the County. The information contained herein has been provided by the County, The Depository Trust Company, New York, New York (“DTC”) and other sources deemed reliable by the County; however, no representation or warranty is made as to its accuracy or completeness, and as to the information from sources other than the County, such information is not to be construed as a representation or warranty by the County. This Official Statement is not to be construed as a contract or an agreement between the County and the purchasers or holders of any of the Notes. Any statements made in this Official Statement involving matters of opinion, whether or not expressly so stated, are intended merely as opinions and not as representations of fact. The information, estimates and expressions of opinion herein are subject to change without notice. The delivery of this Official Statement or any sale of the Notes made hereunder shall not, under any circumstances, create any implication that there has been no change in any of the information herein since the date hereof, or the date as of which such information is given, if earlier. The County has not confirmed the accuracy or completeness of information relating to DTC, which information has been provided by DTC. All quotations from and summaries and explanations of provisions of laws herein do not purport to be complete, and reference is made to such laws for full and complete statements of their provisions. References in this Official Statement to laws, rules, regulations, resolutions, ordinances, agreements, reports and documents do not purport to be comprehensive or definitive. All references to such documents are qualified in their entirety by reference to the particular document, the full text of which may contain qualifications of and exceptions to statements made herein and may not be reproduced or used in whole or part, for any other purpose.