Resolution 2025-33618 RESOLUTION NO. z02533618
A RESOLUTION OF THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH,
FLORIDA, ENCOURAGING THE CITY ADMINISTRATION
TO CONTINUE MAXIMIZING ITS INVESTMENT IN
ISRAELI BONDS, CONSISTENT WITH THE CITY'S
EXISTING INVESTMENT STRATEGY AND FIDUCIARY
RESPONSIBILITIES, AND TO EVALUATE ISRAELI
BONDS AS A KEY COMPONENT OF THE CITY'S
DIVERSIFIED INVESTMENT PORTFOLIO TO ENSURE
FINANCIAL PRUDENCE AND STABILITY.
WHEREAS, the City of Miami Beach stands as a symbol of diversity, tolerance,
and unity among its residents, recognizing the importance of fostering relationships with
nations across the world; and
WHEREAS, the City values peace, security, and the protection of human rights as
fundamental principles that should be upheld globally; and
WHEREAS, South Florida, and the City of Miami Beach are home to a sizeable
Jewish population, and in 2013, the City became Sister Cities with Nahariya and Ramat
Gan, Israel; and
WHEREAS, the Ciry of Miami Beach has a longstanding commitment to
responsible and strategic financial investments that align with both fiscal prudence and
global partnerships; and
WHEREAS, the State of Israel Bonds program has consistently provided a secure
and reliable investment vehicle, offering competitive retums while strengthening
economic ties between Miami Beach and Israel; and
WHEREAS, the City of Miami Beach recognizes the economic stability, growth,
and strong financial management of the State of Israel, making Israeli bonds a prudent
and beneficial investment; and
WHEREAS, maximizing the City's investment in Israeli bonds, within the
framework of the City's established investment policies, enhances portfolio
diversification and aligns with the City's financial objectives; and
WHEREAS, it is in the best interest of the City to continue supporting its
investment in Israeli bonds to ensure financial stability and positive retums for
taxpayers. -
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of
Miami Beach, Florida, that the Mayor and the City hereby encourage the City
Administration to continue maximizing its investment in Israeli bonds, consistent with the
City's existing investment strategy and fiduciary responsibilities, and to evaluate Israeli
bonds as a key component of the City's diversified investment portfolio to ensure
financial prudence and stability.
PASSED AND ADOPTED this _�3 _day of_ ��Y� / , 2025.
v 1�+�
Steve Meiner. Mayor
ATTEST:
APR 2 9 2025 APPROVED AS TO
FORM & LANGUAGE
Rafae� . Granado, City Clerk & FO CUTION
3 � 10I?AZS
(sponsored by Commissioner Laura Dominguez) City Attomey 2E Date
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CoSponsoredbyCommissionerDavidSuarez �=�'' y'/�
CoSponsoredbyMayorStevenMeiner € ixroar our[oi '
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Co-Sponsored by CommissionerAlex J.Fernandez i4RCH zb��'
CoSponsored by Commissioner Joseph Magazine
Resolutions - C7 AE
MIAMIBEACH
COMMISSION MEMORANDUM
TO: Honoreble Mayor and Members of the City Commission
FROM� City Attorney Ricardo J. Dopico
DATE: April 23, 2025
TITLE: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, ENCOURAGING THE CITY ADMINISTRATION TO
CONTINUE MAXIMIZING ITS INVESTMENT IN ISRAELI BONDS, CONSISTENT
WITH THE CITY'S EXISTING INVESTMENT STRATEGY AND FIDUCIARY
RESPONSIBILITIES, AND TO EVALUATE ISRAELI BONDS AS A KEY
COMPONENT OF THE CITY'S DIVERSIFIED INVESTMENT PORTFOLIO TO
ENSURE FINANCIAL PRUDENCE AND STABILITY.
RECOMMENDATION
BACKGROUND/HISTORY
ANALYSIS
The attached resolution was prepared at the request of the sponsor, Commissioner Laura
Dominguez.
FISCAL IMPACT STATEMENT
N/A
Does this Ordinance reauire a Business Imoact Estimate?
(FOR ORDINANCES ONLV)
If applicable, the Business Impact Estimate (BIE) was published on:
See BIE at: https:llwww.miamibeachfl.qov/citv-halllciN-clerk/meetinq-notices/
FINANCIAL INFORMATION
CONCLUSION
Aoolicable Area
Citywide
1580
Is this a "Residents Riaht to Know" item. Is this item related to a G.O. Bond
pursuant to CiN Code Section 2-17? Proiect?
No No
Was this Aoenda Item initiallv requested bv a lobbvist which, as defined in Code Sec. 2-481,
includes a orincioal enoaoed in lobbvino'7 No
If sq specify the name of lobbyist(s) and principal(s):
Deoartment
City Attorney
Sponsor(s)
Commissioner Laura Dominguez
Co-soonsor(sl
Condensed Title
Maximize Israeli Bond Investment. (Dominguez) CA
Previous Action (For Citv Clerk Use Onlv)
Not reached on 3/19/2025 - C7 AN
1581