Subject to the provisions of section 695 of this title, a municipality may apply to the Secretary for funds provided for the purposes of this subchapter when the municipality has received a tentative allocation of federal airport funds for a project. Upon approval of the application by the Secretary, the funds provided under terms of this subchapter will be allocated to the municipality and held for a reasonable time. (Added 1985, No. 222 (Adj. Sess.), § 2.)