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Residents urge Palm Beach County to halt Israel-bond purchases, citing legal and moral concerns
Summary
Dozens of Palm Beach County residents urged commissioners to stop investing in Israel bonds, arguing the county's $1 billion position and rising allocation percentages violate state law, create concentration risk and fund alleged human-rights abuses; Clerk/Comptroller Mike Caruso defended the investments as lawful and higher-yielding.
Dozens of Palm Beach County residents used the commission's public-comment period to demand the county stop buying Israel bonds and to push for an ordinance banning investments in entities they described as ‘‘engaging in genocide or occupation.’’ Speakers repeatedly cited a reported $1,000,000,000 in Israel-bond holdings and a pattern of rising allocation limits — from 5 percent to 10 percent, then 15 percent and currently cited as 18 percent — that residents said exceeds prudent diversification rules.
Residents framed their objections in both legal and moral terms. Nihaya Ochana, a lifelong Palm Beach County resident, said the county's purchases ‘‘violate public investment statutes’’ and erode trust in local government. Rose, another county resident, told commissioners the investment ‘‘does not meet this…
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