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Administrator warns county may need liquidity if state budget cuts hit and highlights Israel bond exposure
Summary
Palm Beach County’s administrator told commissioners the county holds substantial non-recallable investments in Israel bonds and that potential state-level cuts or ballot measures could require near-term liquidity planning; staff will coordinate with the clerk to produce scenarios.
County Administrator Abruzzo briefed the Board of County Commissioners on the county's investment portfolio and potential liquidity risk if proposed state measures or executive-audit findings reduce county revenues. The administrator said large portions of the county's bond holdings are in two- and three-year Israel bonds that are not recallable and noted $745 million in invested balances and a temporary cap that could allow up to $1 billion in such bonds.
Abruzzo said certain…
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