The Department of Transportation is authorized to contract with any bank or banks in the State for the payment by such banks for the labor and services of day laborers engaged in State road construction and maintenance work and for emergency purchases in such work. Any such emergency purchase shall not be for an amount in excess of $25.00. Such bank or banks shall be reimbursed out of appropriations made to the Department in accordance with the provisions of this Act, and shall be paid such reasonable compensation for its services as may be agreed on by the Department and the bank.
     Such payments by any bank shall be made only upon the authorization of some employee or agent of the Department duly designated by it for this purpose. Such employee or agent shall be required to furnish to the Department a bond, to be paid for by the Department, in an amount equal to twice the total of such payments at any one time.