Franklin County Treasurer Ed Leonard (right) and Central Ohio Israel Bonds General Chairman Jay Schottenstein display a check representing the county’s $4.5 million Israel bond investment.

At the South Carolina announcement are (l-r):  Larry Berman, national director, institu-tional sales; S.C. Bonds Chairman John Baker; State Treasurer Converse Chellis;  Southeast Region Exec. Director Brad Young

States and Municipalities Continue Investments In Israel Bonds

When the first Independence Issue bonds were floated in 1951, questions immediately were raised regarding Israel’s creditworthiness and ability to repay debt. Refuting the skeptics, Israel has maintained a flawless record on repayment of principal and interest on all Israel bonds it has issued.
 
Among the foremost repudiations of the early cynics has been the vast number of state and municipal governments that have confidently invested in Israel bonds – more than 65 to date.  Over the past several weeks alone, state and municipal investments have totaled nearly $35 million.

In June, Ohio Treasurer of State Kevin Boyce announced a $20.215 million bond purchase for 2010.  Boyce supported legislation enabling the state to double its investments in Israel bonds, which was signed into law by Governor Ted Strickland.  Ohio has been acquiring Israel bonds since 1993.  On a local level, Ohio’s Franklin County purchased $4.5 million in bonds.

In May, South Carolina State Treasurer Converse Chellis announced a new $10 million state purchase.

States investing in Israel bonds to date include California, Connecticut, Florida, Georgia, Illinois, Indiana, Louisiana, Massachusetts, Maryland, Michigan, Minnesota, Missouri, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Texas, and Wisconsin.



 


Central Ohio Israel Bonds General Chairman Jay Schottenstein (left) is presented with a facsimile check by Ohio Treasurer of State Kevin Boyce.