º21-5A-6. Contracts to contain provisions relative to minimum wages to be paid; exceptions.

     In cases where any public authority has ascertained a fair minimum rate or rates of wages as herein provided, and construction of a public improvement is let to contract, the contract executed between the public authority and the successful bidder shall contain a provision requiring the successful bidder and all his or her subcontractors to pay a rate or rates of wages which shall not be less than the fair minimum rate or rates of wages as provided by this article: Provided, That the provisions of this article only apply to contracts let for public improvements whose cost at the time the contract is awarded will be paid with public money in an amount greater than $500,000.