Every contract or project in excess of twenty
thousand dollars ($60,000) to which the state or any political
subdivision thereof is a party for construction, alteration,
demolition or repair or any combination of these, including
painting and decorating, of public buildings, public works or
public roads of the state and which requires or involves the
employment of mechanics, laborers or both shall contain a provision
stating the minimum wages to be paid to various classes of laborers
and mechanics, which shall be based upon the wages that will
be determined by the director of the labor and industrial division
of the labor department to be prevailing for the corresponding
classes of laborers and mechanics employed on contract work
of a similar nature in the state or locality, and every contract
or project shall contain a stipulation that the contractor,
subcontractor, employer or any person acting as a contractor
shall pay all mechanics and laborers employed on the site of
the project, unconditionally and not less often than once a
week and without subsequent unlawful deduction or rebate on
any account, the full amounts accrued at time of payment computed
at wage rates not less than those stated in the minimum wage
rates issued for the project.