Old 90s or early 00s movie. All I remember that the bad guy was killed at the end. And also there was a blonde baby face actor in this movie.

Bomb in School reminds me of Die Hard 3

Masterminds (1997)?

Another possibility is Toy Soldiers: http://en.wikipedia.org/wiki/Toy_Soldiers_(1991_film)

Thank you Cat1864. That is the one.

You're welcome. I am glad I could help.