The Hillsborough County Commission has approved a measure to invest county funds in Israel bonds, following a heated debate and a 6-1 vote. The decision changes an existing ordinance but does not mean that the county will start buying the bonds immediately. Commissioner Michael Owen, who sponsored the measure, assured that there are safeguards in place, including a two percent cap on the investments.
The meeting saw passionate arguments from both supporters and opponents, with over 60 individuals voicing their opinions. Supporters of the measure argue that Israel bonds represent a strong and reliable investment for the county’s surplus funds. They emphasize the stability and performance of Israeli securities in the global market.
Opponents, however, pointed to the ongoing conflict in Gaza as a significant concern. They argue that the war is adversely affecting Israel’s economy and that investing in the country at this time sends the wrong message. The emotional nature of the debate led to disruptions, with some individuals shouting at commissioners both before and after the vote. Several were escorted out of the meeting by deputies due to their behavior.
Commissioner Owen defended the decision by highlighting the financial benefits and the strategic safeguards included in the ordinance. “Investing in Israel bonds is not just about supporting an ally but also about making a sound financial decision for our county,” he stated. He also noted that the two percent cap on investments ensures that the county’s financial exposure remains limited.
The vote reflects broader discussions about ethical investment and the impact of geopolitical conflicts on financial decisions. As the county moves forward, the implementation of this new investment policy will be closely monitored to ensure that it aligns with both financial goals and community values.
The approval of this ordinance marks a significant step for Hillsborough County, setting a precedent for how local governments can engage in international investments while balancing diverse public opinions and ethical considerations.
