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CITY OF PEEKSKILL v. CONTINENTAL INS. CO.

No. 97 Civ. 4116(BDP).

999 F.Supp. 584 (1998)

CITY OF PEEKSKILL, Plaintiff, v. The CONTINENTAL INSURANCE COMPANY, Defendant.

United States District Court, S.D. New York.

April 9, 1998.

Attorney(s) appearing for the Case

Russell Smith, William J. Florence, Florence & Smith, Peekskill, NY, for Plaintiff.

Kenneth Gould, Marcus Rippa & Gould, White Plains, NY, for Defendant.

FINDINGS OF FACT AND CONCLUSIONS OF LAW

PARKER, District Judge.

Plaintiff City of Peekskill ("the City") filed this action against defendant Continental Insurance Company ("Continental") to collect the proceeds of a public improvement bond ("the Bond") issued by Continental in the amount of $1,121,000 in May 1989. The Bond was issued to secure the obligation of the Mount Florence Group ("Mount Florence"), as...

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