Two New Israel Bond Issues Totaling $1 Billion to Be Launched Next Month

Two new Bond issues of the State of Israel aggregating $1 billion will be initiated at the 1971 International Inaugural Israel Bond Conference in Miami Beach during the three days from March 4-6, it was announced here today by Sam Rothberg, General Chairman of the Israel Bond Organization. The new issues consist of a Fifth Development Issue for $750 million and a Third Development Investment Issue for $250 million. The latter issue is available only to banks, insurance companies, labor unions, employee benefit funds, and governmental, communal, religious and educational institutions. Rothberg said the conference will launch the campaign for the sale of $400 million in 1971. The balance of the new issues will be offered for sale in 1972, he said. The conference will pay tribute to Dr. Joseph J. Schwartz for 40 years of historic service to the Jewish people. The special guest of honor will be Israel’s President Zalman Shazar. The $750 million Fifth Development Bonds will be allocated to various development areas: agriculture $45 million, aviation $30 million, community facilities (schools, hospitals and public buildings) $37.5 million, electric power $37.5 million, housing $60 million, industry and crafts $127.5 million, irrigation $75 million, mining and minerals $75 million, port development $7.5 million, road building and maintenance $75 million, shipping $22.5 million telecommunications $82.5 million and other items and general reserve $75 million.

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