In 2019, Pipestone Area Schools (PAS) sold a total of ,415,000 in general obligation school building bonds for the new elementary school. The bond amount was ,315,000 less than the ,730,000 voters approved in April of 2019. Due to a change in state law, the school district can now sell bonds to obtain that ,315,000. Kelly Smith with municipal advisor firm Baker Tilly said in 2019 that the school district could borrow less than what voters approved because the bond buyer was willing to pay a bond premium of ,944,938.75 to secure a higher interest rate. That premium was included...

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