FORT WORTH TO CREATE AUTHORITY FOR BRUTON SMITH'S RACETRACK

     Racetrack owner Bruton Smith and the Fort Worth City Council
have come to a "general agreement" that calls for the creation of
a sports authority to issue bonds for the construction of Smith's
$75M Texas Motor Speedway to be located just north of Alliance
Airport, write Roland Martin & Jack Smith in the FORT WORTH STAR-
TELEGRAM.  Within six months, a final agreement on operating
rules and legal requirements must be reached between the Council
and Smith's Speedway Motorsports Inc.  City officials expect the
speedway to boost tourism revenue and increase exposure through
NASCAR TV events (FT. WORTH STAR-TELEGRAM, 5/10).