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.
New York Legal Code