Georgia and Texas last week bought $9 million worth of State of Israel Bonds (Israel Bonds), following an intensive campaign by Israel Bonds to persuade state governments to expand their investments in Israel Bonds.
22 of the 50 states of the US hold Israel Bonds, including some of the largest states: California, New York, Pennsylvania, Illinois, and Ohio. Since 1978, state agencies, such as state pension funds, have bought over $1 billion worth of Israel Bonds.
The "East Texas Review" reports that Texas has bought $2 million worth of Israel Bonds, and renewed $2 million in bonds scheduled to mature at the end of this month. The purchase of the new bonds and the renewal of the mature bonds will bring the Texas Treasury’s total investment in Israel Bonds to $20 million. The new and renewed bonds are AA-rated, five-year bonds that will mature in February 2010 and will yield 4.25%.
The "East Texas Review" quotes Texas Comptroller Carole Keeton Strayhorn as saying, "This is the highest level of investment in State of Israel bonds since Texas began purchasing them in 1994. I am a staunch believer in the State of Israel. The Texas Treasury’s investment in State of Israel bonds has increased 67% since I took office.”
Georgia also bought $5 million worth of Israel Bonds last week. State of Israel bonds president and CEO Joshua Matza said, "The large investments by Texas and Georgia in Israel Bonds are votes of confidence in Israel's future. They will help Israel's economic stability."
Published by Globes [online], Israel business news - www.globes.co.il - on February 8, 2005