Ohio Statehouse
Ohio StatehouseiStock

The State of Ohio said on Tuesday that it plans to purchase $20 million in Israel Bonds.

Ohio Treasurer Robert Sprague made the announcement, detailing the state’s intent to buy the five-year fixed-rate bonds, the Cleveland Jewish News reported.

The bonds have a maturity date of February 1, 2028 with a 4.46 percent interest rate.

“For 30 years, Ohio has turned to Israel Bonds as a sound and effective investment for our state,” Sprague said in a statement. “With their competitive interest rates and strong record of reliable payments, Israel Bonds continue to be a valuable investment for Ohioans.”

Ohio is one of the largest government owners of Israel Bonds in the United States. Including the current purchase, the state owns $182.5 million in the bonds.

Every Ohio state treasurer has purchased Israel Bonds since 1993.

“It is remarkable to note 2023 is the 75th anniversary of the founding of the State of Israel and 30 years since the first investment by the Ohio treasurer,” Steven Greenberg, general chairman of the Israel Bonds Cleveland Advisory Council, said. “The Ohio treasurer carries on the legacy and continues to be one of the largest state investors in Israel bonds.”