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File #: 15-4701    Version: 1 Name: PENSION FUND TO DIVEST FROM FOREIGN COMPANIES SEEKING TO BOYCOTT ISRAEL
Type: Resolution Status: Approved
File created: 7/27/2015 In control: Board of Commissioners
On agenda: 7/29/2015 Final action: 7/29/2015
Title: PROPOSED RESOLUTION URGING THE COOK COUNTY PENSION FUND TO DIVEST FROM FOREIGN COMPANIES SEEKING TO BOYCOTT ISRAEL WHEREAS, on July 23, 2015 Governor Rauner signed Senate Bill 176 into law making Illinois the first state in the country to fight the Boycott, Sanctions, and Divestment Movement against the State of Israel; and WHEREAS, the Illinois General Assembly unanimously passed the Anti-Boycott, Divestment, and Sanctions Bill on May 18, 2015; and WHEREAS, the Illinois Anti-Boycott, Divestment, and Sanctions legislation prohibits the investment of state pension dollars in foreign companies that choose to boycott Israel; and WHEREAS, in the 1970s, the United States Government made it illegal for American companies to boycott Israel and that remains a law today; and WHEREAS, the United States is a long time strategic partner and ally of Israel; and WHEREAS, the County of Cook has strong economic, scientific, educational and cultural ties with Israel, which bri...
Sponsors: BRIDGET GAINER, RICHARD R. BOYKIN, JOHN A. FRITCHEY, LARRY SUFFREDIN, TIMOTHY O. SCHNEIDER, STANLEY MOORE, JOAN PATRICIA MURPHY, SEAN M. MORRISON, PETER N. SILVESTRI, GREGG GOSLIN, JOHN P. DALEY, LUIS ARROYO JR, ROBERT STEELE, DEBORAH SIMS

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PROPOSED RESOLUTION

 

URGING THE COOK COUNTY PENSION FUND TO DIVEST FROM FOREIGN COMPANIES SEEKING TO BOYCOTT ISRAEL

 

WHEREAS, on July 23, 2015 Governor Rauner signed Senate Bill 176 into law making Illinois the first state in the country to fight the Boycott, Sanctions, and Divestment Movement against the State of Israel; and

 

WHEREAS, the Illinois General Assembly unanimously passed the Anti-Boycott, Divestment, and Sanctions Bill on May 18, 2015; and

 

WHEREAS, the Illinois Anti-Boycott, Divestment, and Sanctions legislation prohibits the investment of state pension dollars in foreign companies that choose to boycott Israel; and

 

WHEREAS, in the 1970s, the United States Government made it illegal for American companies to boycott Israel and that remains a law today; and

 

WHEREAS, the United States is a long time strategic partner and ally of Israel; and

 

WHEREAS, the County of Cook has strong economic, scientific, educational and cultural ties with Israel, which brings jobs and other benefits to the residents of this county; and

 

WHEREAS, the County Employees' and Officers' Annuity and Benefit Fund of Cook County and the Forest Preserve District Employees' Annuity and Benefit Fund of Cook County may have investments in foreign companies linked to the economic boycott and isolation Israel; and

 

NOW, THEREFORE, BE IT RESOLVED, that the Cook County Board of Commissioners, do hereby urge the County Employees' and Officers' Annuity and Benefit Fund of Cook County and the Forest Preserve District Employees' Annuity and Benefit Fund of Cook County to conduct an audit of its investments to identify any companies engaged in the economic boycott of Israel and to fully divest from such foreign companies.

 

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