State Board of Administration purchases another $25 million in Israel bonds, CFO says

TALLAHASSEE, Fla. – The State Board of Administration purchased another $25 million in Israel bonds, the Florida Chief Financial Officer announced.

“Israel bonds are a prudent investment vehicle and offer consistently positive returns on state funds,” Chief Financial Officer Jimmy Patronis said in a press release.

The bond purchase brings Florida’s total investment in Israel bonds by the SBA to $60 million. The Florida Treasury currently invests $200 million, according to a press release.

“Following the horrific terrorist attacks by Hamas on October 7th, the State of Florida vowed to assist our allies in Israel both morally and monetarily,” Patronis said.

The CFO was honored with an Israel Bond Award at an event Monday evening at the Israel Bonds Prime Minister’s Circle Gala. The executive director of Israel Bonds, Mark Ruben, called it an “honor” to recognize the Florida leader.

“The CFO works tirelessly to provide support to Israel and invest state dollars in Israel Bonds,” Ruben said. “We couldn’t be more thrilled to have the CFO in our corner and making this amazing investment.”

The press release said the Development Corporation for Israel Bonds and its affiliates have generated more than $49 billion around the world in financial support to help build Israel’s economy. The release called Israel bonds a smart and meaningful investment.

Florida lawmakers ended a November special session where multiple pieces of legislation related to Israel became law. One new law bolsters funding for security at institutions such as Jewish day schools.

A bipartisan resolution supporting the state of Israel and condemning Hamas’ attack also was approved by the legislature.