I would just like to add my two cents to this discussion on boric acid. Yes it is toxic. But you must look at the amount required to cause harm. It takes nearly "half a pound" of boric acid to kill a person who weighs 180 lbs. In comparison, it takes the same amount of table salt to kill the same person.
This is not to say that it is completely safe. DON'T EAT IT!
RV antifreeze, propylene glycol, is used in all sorts of food products and is determined safe for human consumption.
It absorbs water, yes, but it binds with the water making it non destructive to the wood.
I use these chemicals to make wood preservative.
WARNING!!! propylene glycol is basically an alcohol and has a flash point so use it at your own risk of fire.
What I do....
I place one gallon of propylene glycol in a stainless steel pot that is at least 3 gallon capacity.
I bring this to a "roll". I don't bring it to a heavy boil due to "flash".
I then add one pound of boric acid. stirring it in slowly to help it dissolve. It will not dissolve completely for a while so don't be alarmed.
Once it is pretty dissolved, I add one pound of 20 mule team borax. Stirring it in the same way.
At this point, there will be "grit" in the bottom of your pan. Just keep stirring until the bottom is no longer gritty.
Apply while hot, as it will get lumpy when it cools.
SO.... What does this actually do?
This mixture protects your wood from rot..... The Borax, (boron salt) protects your wood from fungus, mold, etc..... The boron protects your wood from insect damage..... and the propylene glycol protects the wood from water damage.
If you have ever seen "green board" on tv shows like Mike Holmes, this is the same stuff only home made. It is CLEAR, and you wont see it. The green board has a dye added so it can be easily identified as treated.
I used this while building my dome home. My house is now protected from the inside out against rot, bugs, and mold.