Following the city council’s failure to adopt an amendment to alter the city’s investment policy on Wednesday, the City of Houston will continue to be able to use public funds to purchase Israeli bonds.
Because state law mandates yearly review, the investment policy was up for renewal. Letitia Plummer, a council member, unexpectedly proposed an amendment to eliminate Israeli bonds from the list of authorized assets for the City Controller. There are presently no Israeli bonds in the city’s possession.
“While it has been stated that this body only addresses local issues, the city s investment policy reflects an international dimension that requires our ethical consideration when making decisions about city investments,” Plummer stated. “This amendment is not against the people of Israel but takes a stance against leadership and against government actions that have been charged with crimes against humanity and war crimes by the International Criminal Court.”
Arturo Michel, the city attorney, cautioned that the modification would be in violation of the state’s infamous “Death Star Law.” It restricts local governments’ power to implement legislation that go beyond state regulations that permit purchasing Israeli bonds. Even though Houston and other cities won their lawsuit against the state, the “Death Star Law” remains in place because of continuous appeals.
“I think at this point the prudent thing for the city is, from a legal perspective, not to consider this amendment,” Michel stated.
According to him, it might take two years to settle the continuing lawsuit. Following Michel’s remarks, Plummer revoked the amendment.
Council Member Abbie Kamin made the case that other council members needed to interact with community organizations more thoroughly, citing an email from the Anti-Defamation League.
“Sit down with them and have a meaningful conversation before this is brought back,” Kamin stated.
The email from the ADL, which Kamin’s office shared, made the case that divestment “can feed into the demonization of Israel which can contribute to rising levels of antisemitism in our city.”
The city’s investment strategy specifically names bonds issued by Israel, the only foreign government to do so. Over the past year, pro-Palestinian activists have protested the investment policy, despite the city’s current lack of Israeli bond funds.
“This year-long campaign has brought this to the forefront of the council members’ minds,” Houston for Palestinian Liberation organizer Nishu Siddique stated. “They are willing to introduce legislation to stop it because they are actively considering where Houston tax money are going. This, in my opinion, also starts a very serious discussion about what the Death Star bill looks like, how it thwarts progressive legislation, and what the Texans should expect in the next years.”
A tag from Council Members Edward Pollard, Julian Ramirez, and Plummer caused a delay in the renewal of the investment policy. At a later meeting, the council might give the amendment another look.
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