BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2026 MetroDesk Media, LLC) — Palm Beach County Clerk of the Circuit Court and Comptroller Mike Caruso announced today the purchase of $350.5 million in Israel Bonds, bringing the County’s investment in Israel Bonds to exactly $1 billion. This landmark acquisition represents the largest holding of Israel Bonds by any single investor globally. The purchase, completed on Tuesday, January 6, was strategically timed to maximize taxpayer returns and is projected to generate $47.2 million in interest income over the next three years.
The move follows a unanimous decision by the Palm Beach County Board of County Commissioners on October 21, 2025, to raise the investment cap for Israel Bonds from 15 percent to 18 percent of the county’s total portfolio. Clerk Caruso, a Certified Public Accountant who serves as the county’s Chief Financial Officer, emphasized that the decision was driven by financial performance rather than political considerations. He noted that Israel Bonds are currently yielding higher rates than other permitted options, such as U.S. Treasuries, while meeting essential criteria for safety and liquidity.
As the official responsible for managing the county’s investment portfolio, Caruso utilizes professional investment earnings to reduce the direct financial burden on local taxpayers. Under Florida Statute 218.415, Israel Bonds are one of the limited authorized fixed-income tools available to local governments, alongside assets like money market funds and direct U.S. government obligations. The Clerk’s office maintains that these proactive management strategies are designed to protect tax dollars while ensuring the highest possible market rate of return.
Clerk Caruso is scheduled to hold a press conference on Wednesday, January 7, to address specific questions regarding the transaction and its impact on the county’s fiscal health. Residents interested in the technical details of the county’s financial management can find additional resources and reporting guidelines in the investments section of the Clerk’s official website.
