Despite protests, Hillsborough Commission to review Israeli bonds

After dozens of people spoke out in protest, citing the ongoing war between Israel and Hamas, the Hillsborough County Commission voted 6-1 Wednesday in favor of allowing investment in bonds backed by the Israeli government.

“I stand by that,” said Commissioner Michael Owen, who proposed the idea after the Oct. 7 attack on Israel.

The vote came after members of the public — more than 60 people signed up to comment in person or virtually — spoke out against revising the county’s current policy “to allow for the investment of excess county funds.” county in rated or unrated bonds, notes or instruments. the full faith and credit of the Government of Israel,” according to county documents.

Several audience members spoke about war crimes and genocide. “I think Israeli leaders should be behind bars,” Randy Toler told the board. “I’m not sure what you’re doing here.”

“The craziest politics I’ve ever seen on the board,” said surgeon Nabeel Hamoui. »

And some have suggested that commissioners invest in Hillsborough County “rather than making politically motivated decisions,” as Chairman Cameron Pressey said.

Although the majority of people who expressed their opinions at the public hearing were against the change, several people strongly supported it.

“I know from my own investment that this is a solid investment,” said Gary Gould, executive director of Community Centers and the Jewish Federation of Tampa. Jonathan Ellis said hatred toward the state of Israel “has no place in Hillsborough County.”

According to the county budget office, the county has various reserve funds that can be invested in its investment portfolio. Additionally, income sometimes grows faster than expenses and can be invested in the short term. The county’s large investment portfolio is reviewed quarterly by the clerk, the county and an independent consultant, according to the county administrator.

Owen noted that the change does not necessarily mean they will buy Israeli bonds, just that it will be an option. He said he presented his motion “proudly.”

Commissioner Pat Kemp, the only one to vote against it, noted that commissioners also received hundreds of emails of opposition.

“I am concerned that this board has created a controversy over county bonds and finances that we should not have had,” she said. “I really hope this doesn’t start a trend.”

Rumblings from the public followed the decision. “It’s shameful,” said one man. “Shame on you all,” one woman said. Commission Chairman Ken Hagan had them escorted from the chambers.