Ohio (WTVG) – Lucas County is ending its $5 million investment in Israeli bonds this year, but not because of the political pressure applied. The county will no longer invest in Israel because it needs the money from that investment
The Lucas County Investment Advisory committee had quite the crowd over the last year. Supporters of Palestine and those against Israel’s response to the Oct. 7 attack urged the county to divest from the bonds, an investment that dates back several years.
The county says the decision to end it has nothing to do with the conflict.
“To meet the county’s liquidity needs, we need to make sure we have cash on hand to do that,” said Lucas County Treasurer Lindsay Webb.
With a tight Lucas County budget, Treasurer Webb will not only cash out this bond, but all county investments that mature through the end of the year. That’s about $46 million worth of investments.
“It was a decision based on my responsibility as a fiduciary investor for the county’s portfolio as a whole. My primary considerations are the safety of the investment, the liquidity needs of the county and the return,” said Webb.
Treasurer Webb says she heard the concerns. People worried that an investment in Israeli bonds was helping to fund the fighting and what some call a genocide. She says her decision was not political.
“In reality, that is not an appropriate consideration for me. Nor is it the reason or the basis for this decision,” said Webb.
The $5 million investment has netted the county about $800,000 in interest over the last 3 years.
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