(C) Ohio Capital Journal
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Can Ohio's public universities divest from Israel? State law says no • Ohio Capital Journal [1]
['Morgan Trau', 'Megan Henry', 'Nick Evans', 'More From Author', '- May']
Date: 2024-05-03
“We are a private institution, the rules don’t apply the same for them as they do here,” said CWRU student Jas Kamhawi Oglesby. “We will stay here in solidarity.”
Case Western students say that they are glad they could still make change but are asking for legislators to repeal the law.
“No,” Senate President Matt Huffman’s spokesperson, John Fortney, said, declining to provide any more comment.
There are the same feelings in the other chamber.
“Speaker Stephens strongly values our partnership with Israel. We are committed to keeping investments open between the State of Ohio, businesses that do business with Israel, and Israeli companies themselves. This strong relationship should not change,“ Stephens’ spokesperson Pat Melton said.
Melton also reminded of Stephens’ statement from October 7, how the war started when Hamas attacked Israeli citizens at a music festival.
“I strongly condemn the heinous terrorist attacks carried out today by Iranian-backed Hamas against the people of Israel. My heart goes out to the victims of these cowardly actions and their families across the world. The United States stands with Israel as they rightfully defend their homeland. May we all offer prayers during these times,” the speaker said.
The Statehouse has been publicly supporting Israel consistently since the attack, with both chambers passing resolutions condemning Hamas in October.
State Treasurer Robert Sprague continues to buy Israel Bonds, with both a $30 million purchase in February and a $15 million in March.
“Israel Bonds have been – and continue to be – a strong investment for the State of Ohio as a result of their competitive rates and perfect record of interest and principal payments. Since 1993, every Ohio Treasurer has turned to these securities as a way to bring strength and balance to the state’s investment portfolio. These positive benefits have remained unchanged, and Israel Bonds remain strong investments for our state,” spokesperson Laura Martine said.
I asked specifically for Sprague’s thoughts on the calls for divestment.
“Our thought is there are no merits for divestment, as these bonds remain a strong investment for the State of Ohio,” she responded.
When he purchased the bond in February, Sprague addressed his desire to help the Middle-Eastern allies.
“Israel’s need for support remains as they continue their fight against terrorism,” Sprague said. “Not only do Israel Bonds help provide much-needed liquidity to Israel, but their solid repayment history and competitive rates also provide a sound investment for Ohio and a great fit on our bond ladder.”
There is one way that public schools could try to cut ties with the country, but Entin said it is virtually impossible and would face legal challenges.
“They have to certify that they’re not engaged in a prohibited boycott of Israel,” he said.
State law has a provision stating that a boycott would not be considered a “decision based on business or economic reasons.”
Gov. Mike DeWine’s team pointed out that university boards of trustees are required to act in the best financial interest of their university, so they would need to prove that ending contracts would benefit the university fiscally.
“Taxpayer-supported institutions should run as leanly as possible so that taxpayers get the best value for their dollars,” spokesperson Dan Tierney said. “These calls for divestment are specifically divorced from those duties in the efforts to make political statements.”
Attorney General Dave Yost’s team is also adding that the law basically requires schools to keep their financial support for Israel.
“OSU holds investments through contracts with various indexes,” spokesperson Bethany McCorkle said. “OSU is prohibited from using such indexes if they divest from Israeli assets.”
But Collyer said that even if OSU can’t financially remove itself, the administration could be doing more.
“They could be allowing students to express their First Amendment rights on campus,” she said, adding that the troopers and campus police have been “violent.”
Tierney explained that DeWine called the troopers in because OSU asked for it.
“From everything we’ve seen, all the agencies involved have acted appropriately — enforcing the laws, being professional and working to allow people to exercise their First Amendment,” he said. “And accomplishing the goals of just keeping everybody safe and ensuring access to the university.”
Collyer added that she would be open to supporting litigation against the state law, saying it goes against free speech.
Entin argued that argument probably wouldn’t hold up in court.
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