An LEA is eligible to apply for an emergency grant under the first priority of section 8007(b) of the Act if it -
(a) Is eligible to receive formula construction funds for the fiscal year under section 8007(a) of the Act;
(b)
(1) Has no practical capacity to issue bonds;
(2) Has minimal capacity to issue bonds and has used at least 75 percent of its bond limit; or
(3) Is eligible to receive funds for the fiscal year for heavily impacted districts under section 8003(b)(2) of the Act; and
(c) Has a school facility emergency that the Secretary has determined poses a health or safety hazard to students and school personnel.