(1) After obtaining such information as it deems necessary relative to the qualification of the applicant, the department shall determine whether or not the applicant is eligible to bid upon road contracts. The department shall promptly notify all applicants of its final action on their applications.
(2) If the department determines that the applicant is eligible, it shall issue to him a certificate of eligibility which shall entitle the applicant to bid upon any contract with the department for the construction or maintenance of any public road or section thereof upon which bids are being asked.
(3) If the department determines that the applicant is ineligible to bid, it shall reject the application and refuse to issue the certificate of eligibility, and the applicant shall not thereafter make application for a certificate of eligibility until he is qualified, both financially and in all other ways.