WEST PALM BEACH, FL (January 6, 2026) – 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 $350.5 million purchase was timed to maximize return on investment for Palm Beach County’s portfolio and for the County’s taxpayers and will earn Palm Beach County approximately $136 million in interest income over a three-year period.
This is the most significant investment in Israel Bonds of any investor in the world and provides the most significant returns of any investment option in the County’s portfolio, Clerk Caruso said.
“Investment policy is not politics, but are purely a function of safety, liquidity and a market rate of return,” said Clerk Caruso, a Certified Public Accountant. “Israel Bonds are paying a higher rate than other allowable investment alternatives, including U.S. Treasuries, and will provide a substantial return on investment for the people of Palm Beach County.”
The purchase was completed on Tuesday, January 6. Clerk Caruso will answer questions about the purchase during a press conference on Wednesday, January 7.
The increased investment in Israel Bonds followed the Palm Beach County Board of County Commissioners’ unanimous approval on October 21, 2025, to temporarily increase the cap on investments in Israel Bonds from 15 percent to 18 percent of the portfolio.
Clerk Caruso serves as Palm Beach County’s Chief Financial Officer and is solely responsible for the management of Palm Beach County’s investment portfolio. Palm Beach County uses investment income earned by the portfolio to help ease the financial burden on Palm Beach County taxpayers.
The Clerk's certified investment professionals proactively manage the investment portfolio to maximize investment earnings while ensuring that tax dollars are protected. The County Investment Policy developed by the Clerk and the County’s Investment Policy Committee governs investments and provides guidelines related to risk management and reporting requirements.
Under Florida Statute 218.415, Israel Bonds are one of the few authorized investment tools available to local governments for their fixed income investment portfolios. Other authorized investments include certificates of deposit, money market funds and direct obligations of the United States government and its agencies.
To learn more about the Clerk’s management of the County’s portfolio, visit the Investments section of www.mypalmbeachclerk.com.
