Idaho Code § 40-1101
Every highway district is granted the authority under article VIII of the Idaho constitution to issue negotiable coupon bonds for construction, improvements or repairs of any highways or structures in the district; for the purchase of material and machinery; for contracting highway engineering and construction; for the necessary expenses of the district in connection with these purposes; or for any or all of these or connected purposes. Every highway district is also granted the authority by resolution of its board of commissioners, without election, to issue negotiable coupon bonds for the purposes of funding or refunding any existing indebtedness, whether the indebtedness exists as warrant indebtedness or otherwise. Where an election is required under the provisions of article VIII of the Idaho constitution to authorize a bond issue, the election may be held with other elections. Elections shall be conducted by the county clerk in the same manner as county elections pursuant to title 34, Idaho Code. Authorization for the issuance, sale and redemption of bonds other than funding or refunding existing indebtedness, shall be as provided by chapter 2, title 57, Idaho Code. The total amount of bonds any district has issued and outstanding at any time shall not exceed two percent (2%) of the market value for assessment purposes of all the taxable property in the district as shown by the last preceding assessment list.
Idaho Code § 40-1101