(a) Before Montgomery County may establish the Montgomery County Student Loan Refinancing Authority, the county shall: (1) Study aspects of implementing the Authority in accordance with State and county law, including: (i) Performing a feasibility and demand study; (ii) Assessing the potential benefit to recruitment and retention of county and school system employees; and (iii) Studying the operation of similar programs in other systems, including operating costs; (2) Hold public hearings; and (3) Provide an opportunity for public comment. (b) 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.
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