CURRIE, J.
The sole issue is whether sec. 289.16, Stats. 1957, is applicable to the instant performance bond so as to bring into play the one-year statute of limitations contained in sub. (2) of this statute.
The portions of sec. 289.16, Stats. 1957, material to this appeal provide as follows:
"(1) All contracts with the state involving $1,000 or more and all other contracts involving $100 or more for the performance of labor or furnishing materials...
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