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Cuyahoga County public commenters clash over treasurer’s pause on Israel-bond reinvestment
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Summary
Dozens of residents at the Feb. 25 Cuyahoga County Council meeting debated a treasurer decision to pause reinvesting maturing county holdings in Israel bonds; supporters urged the county to reinvest for higher returns while opponents hailed the freeze and urged redirecting funds to local needs. Councilmembers said the treasurer, not the council, made the reinvestment decision.
Dozens of residents used the Feb. 25 public-comment period at the Cuyahoga County Council meeting to press opposing views after the county treasurer paused reinvestment of maturing holdings in Israel bonds.
Supporters of continuing the county’s purchases said the bonds are a safe, income-producing asset that helps county services. David Pearl, who identified himself as a registered representative for Israel Bonds, said the securities “meet the requirements in the Ohio Revised Code” for foreign-bond investments and framed the holdings as prudent: “Every investment in Israel bonds is important…every dollar counts.” Brad Schlang, a county resident, estimated that $3 million of maturing bonds yielding roughly 3 percentage points more than the county’s other investments would cost the county about $90,000 a year in foregone income if not reinvested.
Other speakers celebrated the treasurer’s decision to pause reinvestment. Basma Hamid, a resident of more than three decades, said freezing $3,000,000 “is one step being taken in the right direction” toward directing resources locally. Several speakers tied the freeze to broader demands to invest more in shelters, violence-interruption programs and other county services.
Tensions surfaced in the room. Speakers on both sides accused opponents of harassment or of misrepresenting facts, and a number of commenters used strong political language. One commenter said, “From the river to the sea, Palestine will be free,” while others described themselves as Holocaust survivors or family members of victims to argue for reinvesting.
Councilroom leaders clarified who made the decision. An unidentified councilmember told the audience that the pause on reinvestment “was a decision made by the treasurer,” citing a letter from Treasurer Cromer, and asked speakers to direct operational concerns to the administration rather than the council. The council did not take a formal vote on the reinvestment policy during the meeting.
What happens next: public speakers urged both the treasurer and council to act — some asked the council to return money to Israel bonds when feasible, others urged further freezes and more local spending. No formal reversal or council action on reinvestment was recorded during the session; the treasurer’s office, not the council, was identified in the meeting as the decisionmaker for reinvestment choices.
