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Fort Lee names depositories and designates PNC as official tax receiving agency; mayor recused on one bank vote
Summary
Council designated multiple banks as depositories for borough funds and named PNC Bank the Official Tax Receiving Agency for 2026; Mayor Sokolich recused during the ConnectOne Bank designation vote, which was presided over by Council President Suh.
During the Jan. 6 reorganization the council designated a list of banks as depositories for borough accounts and adopted a separate resolution (R-7) naming PNC Bank, Fort Lee as the Official Tax Receiving Agency for 2026. The designation responds to N.J.S.A. 54:4-122.3 and was approved by council vote.
The minutes record that Mayor Sokolich recused for the R-6 ConnectOne Bank designation and that Council President Suh presided over that portion of the meeting. The depository list includes multiple local and regional banks and the minutes require the Borough Treasurer (or designee) and Mayor to sign disbursement checks from designated accounts.
