SANTA CLARITA – The first bonds from College of the Canyons’ voter-approved Measure M construction bond were sold recently, yielding nearly $80 million for new buildings and renovations on the Valencia campus and at the new Canyon Country site. The bonds went to market May 17 with a favorable rating, which translates to low-cost borrowing for the college. The money will be available to the community college district May 30. “Now that we have the money we need, we can get busy building new state-of-the-art learning spaces and provide students access to top-notch transfer courses and highly skilled technical training,” college President Dianne Van Hook said in a statement. The total value of Measure M bonds is $160 million. The additional bonds will be sold at a later date. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! The funding positions College of the Canyons to apply for state funding. Among the work planned for the Valencia campus is expansion of the library, updating aging classroom and laboratory facilities, and constructing a new Student Services building. The proceeds from Measure M also will pay for permanent facilities at the Canyon Country campus, which will open in August in in modular buildings. Plans call for six 40,000-square-foot structures to house classrooms, labs and student support facilities.