Section 108. Workmen's compensation insurance on public works

Each
  contract to which a political  subdivision  or  any  officer,  board  or
  agency  thereof,  or of any district therein, is a party and which is of
  such a character that the employees engaged thereon are required  to  be
  insured  under  the  provisions of the workmen's compensation law, shall
  contain a stipulation that such contract shall be void and of no  effect
  unless  the  person  or  corporation  making or performing such contract
  shall secure compensation for the benefit of, and  keep  insured  during
  the  life  of  such  contract,  such  employees,  in compliance with the
  provisions of the workmen's compensation law.