The Authority shall, by resolution, establish an application period or periods of reasonable length. During the application period, the Authority shall accept applications to purchase lots within the subdivision. After the close of the application period, the Authority shall review all applications and for applicant families or single persons who are found eligible assign preferences to each application. Within each preference, a priority number shall be assigned. Said priority number shall be established by lot. The Authority shall dispose of the lots by selling them first to first preference families or single persons in the order of their respective priority numbers. When all families or single persons submitting first preference applications have been offered lots, the remaining lots shall then be offered in the same manner to second preference applicant families or single persons with any remaining lots then offered in the same manner to third preference applicant families or single persons and if any lots then remain, such lots are to be offered to fourth families in the same manner. The priority number system shall be used to determine which purchaser shall be entitled to which lot and shall also govern in the case that there are more purchasers in a preference category than lots available.

SOURCE: GC § 13945, as added by P.L. 14-138.