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Ohio purchases $42 Million in Israel Bonds

By: JTA

The state of Ohio has purchased $42 million in Israel Bonds, increasing the total amount of Israel Bonds in the state’s treasury portfolio to more than $80 million.

The March 1 purchase is the largest single government purchase of Israel Bonds in United States history, according to the Cleveland Jewish News.

“We believe this is a sound investment for the taxpayers of Ohio and consistent with our strategy of investing in safe and strong securities,” Ohio State Treasurer Josh Mandel, who is Jewish, told the Cleveland Jewish News.

The Ohio Revised Code was amended in 1993 to allow the state to invest in foreign bonds, according to the newspaper. In 2010, the Ohio Legislature passed Senate Bill 181, which allows the state treasury to increase debt earnings in foreign nations from one-half of 1 percent to 1 percent of the state’s portfolio, the Cleveland Jewish News reported.

The previous highest single purchase of Israel Bonds in U.S. history was $25 million, made by several states, Thomas Lockshin, executive director for Israel Bonds in Ohio and Kentucky, told the Cleveland Jewish News.

In November, Mandel lost his bid to unseat incumbent U.S. Sen. Sherrod Brown, D-Avon.

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2 Responses to “Ohio purchases $42 Million in Israel Bonds”

  1. Samuel Ramos says:

    Why not, it’s a good investment. :-)

  2. John Keytack says:

    Why would anyone buy Israel Bonds any more? They are not the investment they used to be. They pay too little interest and take too long to mature.

Comments are closed.

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