Well. A friend in the securities business notes SB 546 by Sen. Jason Rapert, who left a securities business to turn attention to soliciting funds for his evangelical preaching business.

He’d put bonds of the state of Israel on a par with U.S. and local government obligations in investing money in the state treasury.

Advertisement

Rapert would add the sovereign debt of Israel as a worthy Arkansas investment to this list that now qualifies:

(1) A direct or guaranteed obligation of the United States that is backed by the full faith and credit of the United States Government;

(2) A direct obligation of an agency, instrumentality, or government-sponsored enterprise created by act of the United States Congress and authorized to issue securities or evidences of indebtedness, regardless of whether the securities or evidences of indebtedness are guaranteed for repayment by the United States Government; and

(3) A bond or other debt of the state, a school district, a county government, a municipal government, or an authority of a governmental entity that:

(A) Is issued for an essential governmental purpose or is  guaranteed by a state agency; and
(B) Has a debt rating from a nationally recognized credit rating agency of “A” or better at the time of purchase;

Be a Part of the Fight

Step up and make a difference by subscribing or donating to the Arkansas Times, the progressive, alternative newspaper in Little Rock that's been fighting for truth for 50 years. Our tough, determined, and feisty journalism has earned us over 63,000 Facebook followers, 58,000 Twitter followers, 35,000 Arkansas blog followers, and 70,000 daily email blasts, all of whom value our commitment to holding the powerful accountable. But we need your help to do even more. By subscribing or donating, you'll not only have access to all of our articles, but you'll also be supporting our efforts to hire more writers and expand our coverage. Join us in the fight for truth by subscribing or donating to the Arkansas Times today.

Previous article Expanded campus gun bill approved by House committee Next article Revised school voucher bill clears House committee