; and (B) when calculating the total number of weighted student units as described in section 7003(a)(1)(C) of the Elementary and Secondary Education of 1965 ( 20 U.S.C. 7703(a)(1)(C) ), the Secretary of Education shall include the number of children determined under section 7003(a)(1)(C) of such Act for the preceding school year that constituted at least 20 percent of the total student enrollment in the schools of the agency during the preceding school year. 5. Application A local educational agency eligible to apply for a grant under paragraph (1) or (2) of section 4 that desires to receive a grant shall submit an application in accordance with regulations prescribed by the Secretary of Education. 6. Award criteria When awarding a grant under paragraph (1) or (2) of section 4, the Secretary of Education shall— (1) first consider those local educational agencies (or, in the case of a local educational agency that does not have the authority to tax or issue bonds, the agency’s fiscal agent) that have limited or no capacity to issue bonds or have a total assessed value of real property that may be taxed for school purposes of less than $50,000,000; (2) next consider those local educational agencies not described in paragraph (1) that— (A) have a total assessed value of real property that may be taxed for school purposes of less than $100,000,000; or (B) have an assessed value of real property that may be taxed for school purposes per student that is less than the average of the assessed value of real property that may be taxed for school purposes per student in the State in which the local educational agency is located; and (3) finally consider— (A) the number and percentages of children described in subparagraphs (A), (B), (C), and (D) of section 7003(a)(1) of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 7703(a)(1) ) enrolled in the school facility to be supported with grant funds