A bill authorizing county and local governments throughout the state to invest surplus funds in bonds backed by the full faith and credit of the State of Israel has been adopted by the Florida State Legislature, starting July 1st, and was signed by Governor Charlie Christ on June 8th at a ceremony at Temple Beth El in Boca Raton.
Those authorized to invest are state agencies, municipal fire and police pension funds and local governments.
Gov. Christ recently returned from a trip to Israel that focused on bilateral trade between Israel and the State of Florida.
The first Israel bond was sold in 1951 and close to $25-billion in investment capital has been secured for the development of every aspect of Israel’s economy including agriculture, commerce and industry, and to absorb Jews from the former Soviet Union, Ethiopia and elsewhere.
More than $100-million of Israel Bonds are purchased every year within the State of Florida by individuals, corporations, pension plans, universities, hospitals, foundations, unions, banks and insurance companies.