The department may issue negotiable bonds in order to raise funds to:
(1) Acquire rights of way or other real or personal property necessary for constructing a bridge or bridge approach;
(2) Pay for the purchase or condemnation of a bridge or bridge approach;
(3) Build or cause to be built any bridge including approaches;
(4) Pay for the preparations of plans, specifications and blueprints, and other expenses incidental to the building or purchase of the bridge or bridge approach; and (5) Pay the cost of bridge construction, repair, enlargement or reconstruction authorized under KRS 180.105 or KRS 180.106.