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Section 5 of Public Act 166 of 1965, as amended, being MCL 408.555 Prevailing wage and fringe benefit rates; posting by contractors [M.S.A. 17.256(5)]; states
"Every contractor and subcontractor shall keep posted on the construction site, in a conspicuous place, a copy of all prevailing wage and fringe benefit rates prescribed in a contract and shall keep an accurate record showing the name and occupation of and the actual wages and benefits paid to each construction mechanic employed by him in connection with said contract. This record shall be available for reasonable inspection by the contracting agent or the commissioner."