Section 1285-N. Issuance and sale of recipient bonds and notes

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Notwithstanding subdivision two of section one thousand eighty  of  this
  article,  or  any  by-law, rule or regulation requiring the recipient to
  issue bonds or notes at a public or competitive sale, any recipient of a
  financing from  the  corporation  pursuant  to  section  twelve  hundred
  eighty-five-j,   twelve   hundred   eighty-five-m   or   twelve  hundred
  eighty-five-o of this title may validly issue its notes or bonds to  the
  corporation, as evidence of its obligation to repay such financing.

                    
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