(a) First priority will be given to applicants who need to secure financial resources for the mitigation of identified hazards to public health, damage to the environment, or nuisance to the public, of greatest severity, which are created by solid waste landfills and entail qualifying corrective actions as defined in section 18400 of this article.

(b) In the event that applications to mitigate hazards of equal severity are received, priority will be given to those applications where it is shown that there will be the greatest increase in the costs associated with the anticipated corrective action, if the corrective action is delayed.

(c) In the event that a priority between applications cannot be established by subsections (a) and (b), priority will be given to those applicants who demonstrate the best record of compliance with applicable law, regulations and permits required in the operation of landfill facilities.

(d) In the event that a priority between applications cannot be established by subsections (a) through (c), priority will be given to those applications with the smallest dollar value, in order to allow the maximum number of guarantees to be made within the limits of the Loan Guarantee Program.