  We investigate the behavior of non-Euclidean plates with constant negative
Gaussian curvature using the F\"oppl-von K\'arm\'an reduced theory of
elasticity. Motivated by recent experimental results, we focus on annuli with a
periodic profile. We prove rigorous upper and lower bounds for the elastic
energy that scales like the thickness squared. In particular we show that are
only two types of global minimizers -- deformations that remain flat and saddle
shaped deformations with isolated regions of stretching near the edge of the
annulus. We also show that there exist local minimizers with a periodic profile
that have additional boundary layers near their lines of inflection. These
additional boundary layers are a new phenomenon in thin elastic sheets and are
necessary to regularize jump discontinuities in the azimuthal curvature across
lines of inflection. We rigorously derive scaling laws for the width of these
boundary layers as a function of the thickness of the sheet.
