Idaho Code § 43-2549
The board shall prescribe rules and regulations for the maintenance and operation of the guarantee fund not inconsistent herewith. After the creation of such fund, all money derived from the assignment of delinquency certificates, redemptions, sale of property under foreclosure for delinquent local improvement district assessments or from the rent or sale of property, title to which has been obtained by the district pursuant to this code, shall be paid into the local improvement guarantee fund, and all delinquency certificates issued and such property acquired shall be held by the district for the benefit of such guarantee fund. Money from the guarantee fund may be used to redeem property subject to local improvement assessments from general tax delinquencies, underlying bonds or warrants guaranteed by the fund, or to purchase such property at county tax sales or otherwise, from the county for the purpose of protecting the guarantee fund. After so acquiring title to real property, the district may lease or sell and convey the same for such price and on such terms as may be determined by the board, any provision of law or resolution to the contrary notwithstanding, and all proceeds resulting therefrom shall belong to and be paid into the guarantee fund, provided however, that in the event the district purchases such property at tax sale or otherwise it shall not be sold for a lesser sum than the district paid therefor.
Idaho Code § 43-2549