Before Montgomery County may establish the Montgomery County Student Loan Refinancing Authority, the county shall: Study aspects of implementing the Authority in accordance with State and county law, including: Performing a feasibility and demand study; Assessing the potential benefit to recruitment and retention of county and school system employees; and Studying the operation of similar programs in other systems, including operating costs; Hold public hearings; and Provide an opportunity for public comment. If Montgomery County decides to establish the Authority as authorized in § 18–3101 of this subtitle, the county’s governing body must pass an ordinance that creates the Authority in accordance with this subtitle.