In a joint statement with Salt Lake City, the team announced Monday it has secured a letter of credit from Zions Bank, but some "technical details" must be resolved before it can be delivered to the city later this week.

The money is one of the conditions RSL must meet to receive $35 million of Salt Lake County hotel taxes the Legislature channeled toward land, parking and infrastructure for the team's Sandy stadium.

In late April, Salt Lake City Mayor Rocky Anderson accused RSL owner Dave Checketts of deceiving the public's trust by asking for revenue from parking, concessions and naming rights at the planned sports complex in exchange for the team's $7.5 million "investment."

Checketts then vowed May 2 to deliver a "financial instrument" for the team's pledge within 30 days - no strings attached.

"We did as we promised," RSL spokesman Eric Gelfand said Monday.

Once the $7.5 million is in place, Salt Lake City will be able to issue a $15 million, voter-approved bond for the sports complex at the "appropriate time," the statement said.

The complex, near 2300 North and Redwood Road (1700 West), would include 16 soccer fields along with a handful of baseball/softball diamonds.

Still in question is whether RSL will establish an elite soccer academy in Salt Lake City or if it will be built elsewhere. Although Anderson has said the academy also was pledged to Utah's capital, the state is requiring only that it be built in Utah in order for the stadium to receive public funds.

Sandy, which has committed an additional $10 million toward the $110 million stadium, expects to have a final contract, spelling out conditions for all public funds, ready for the team to sign in July. The City Council plans to review a parking ordinance tonight that would allow the team to arrange for most stadium visitors to park off-site.

rwinters@sltrib.com