(a) If there is a default in the payment of principal of or interest on political subdivision bonds purchased by the authority or any other default as defined in the proceedings or indentures authorizing the issuance of the bonds, the attorney general shall institute appropriate proceedings for mandamus or other legal remedies to compel the political subdivision or its officers, agents, and employees to cure the default by performing those duties that they are legally obligated to perform.
(b) The proceedings shall be brought and venue shall be in a district court of Travis County.
(c) This section is cumulative of any other rights or remedies to which the board may be entitled.