In 1914, the town built the Arnegard School, a one-story, four room school which taught grades 1 through 12. It opened on January 29, 1915. AS second story and rear annex was built in June 1936. Included were four more classrooms and a library on the second floor, and a gym and principal's office in the rear. The annex was torn down in 1954, and a much larger gym built. By then, the Arnegard Spuds basketball team was winning games throughout the state, and wrestlers too were winning awards. In 1961, the school won the State Class C Boys' Basketball Championship. The high school closed in 1963 due to declining enrollment, but elementary school classes continued to be held in the structure until 1976. McKenzie County donated the building to the city of Arnegard shortly thereafter, and it was used as a roller skating rink, town library, and meeting hall. By the early 1980s, the second floor was considered unsafe, and the building eventually closed. In 1998, local man Milton Hanson purchased the structure and completely renovated it. It was then operated as the "Old School Bed & Breakfast", and has been featured on HGTV's "If Walls Could Talk" and Prairie Public TV's "Old to New: Remodel, Restore, Revitalize". In 2015 it was sold, without the bell, and is no longer a bed and breakfast.