Record #: R2015-569   
Type: Resolution Status: Adopted
Intro date: 7/29/2015 Current Controlling Legislative Body: Committee on Human Relations
Final action: 9/24/2015
Title: Call for Municipal Employees' Annuity and Benefit Fund of Chicago to divest in companies engaged in economic boycott of Israel
Sponsors: Smith, Michele, Silverstein, Debra L., Tunney, Thomas, Reilly, Brendan, Pawar, Ameya, Moore, Joseph, Reboyras, Ariel, Arena, John, Taliaferro, Chris, O'Connor, Patrick, Burnett, Jr., Walter, Laurino, Margaret, Solis, Daniel, Sposato, Nicholas, Scott, Jr. Michael, Maldonado, Roberto, Zalewski, Michael R., Burns, William D., Hairston, Leslie A., Hopkins, Brian , Sawyer, Roderick T., Burke, Edward M., Moreno, Proco Joe, Villegas, Gilbert, Waguespack, Scott, Mitchell, Gregory I., Cappleman, James, Harris, Michelle A., O'Shea, Matthew J., Quinn, Marty, Osterman, Harry, Lopez, Raymond A., Mendoza, Susana A.
Topic: FINANCE FUNDS - Municipal Employee Annuity & Benefit Funds
Attachments: 1. R2015-569.pdf



Urging the Municipal Employees' Annuity and Benefit Fund of Chicago to Divest from Foreign Companies seeking to Economically Boycott Israel


WHEREAS, amidst growing anti-Semitism around the world, particularly in Europe, foreign companies are being pressured to boycott or otherwise inflict economic harm on the State of Israel and Israeli-based companies.


WHEREAS, the Boycott, Divestment, Sanctions (BDS) movement, which is behind the divestment in Israel campaign, main objective is to delegitimize Israel as a Jewish state.


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


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


WHEREAS, the City of Chicago has strong economic, scientific, educational and cultural ties with Israel, which brings jobs and other benefits to the residents of this city.


WHEREAS, the Illinois General Assembly passed and Governor Rauner signed the first Anti-BDS bill with zero "no" votes on record prohibiting state pension dollars from invested in foreign companies that choose to boycott Israel, through Public Act 102-000-000.


WHEREAS, the Municipal Employees' Annuity and Benefit Fund of Chicago may have investments in foreign companies linked to the economic boycott and isolation Israel.



NOW, THEREFORE, BE IT RESOLVED, that the City Council ofthe City of Chicago, do hereby calls upon the Municipal Employees' Annuity and Benefit Fund of Chicago to conduct an independent audit of its investments to identify any companies engaged in the