On May 3, 1962, an election was held for a bond issue to fund an addition to the school.  Passage of the bond issue required 60% of the votes to be in favor.  A total of 760 votes were cast.  Eight of these ballots were disqualified for being improperly marked which reduced the vote total to 752.  The bond issue passed with 455 in favor (60.5%) and 297 not in favor (39.5%).

The closeness of the vote led to a legal challenge which lasted until May 7, 1963when the Supreme Court of Iowa ruled in favor of the Farragut Community School District.  
( Frakes v. Farragut Community School District )

Bonds totaling $420,000 were sold on July 9, 1963 to the Iowa-Des Moines National Bank of Des Moines.  Construction of the new addition to the school was completed and ready for use in August 1964 (school year 1964-65).  44,456 square feet with classrooms, library, music room, cafeteria, concourse, and a spacious gymnasium with seating for 2,500 was built for a total cost of $380,149.06 ($7,230,735 in 2026).  Dedication ceremonies were held in the new gym on Sunday, January 31, 1965.