EXHIBIT 25.1

OMB APPROVAL
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FORM T-1

STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF
A CORPORATION DESIGNATED TO ACT AS TRUSTEE

CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2) [ ]

WACHOVIA BANK, NATIONAL ASSOCIATION
(Exact Name of Trustee as Specified in its Charter)

22-1147033
(I.R.S. Employer Identification No.)

301 S. COLLEGE STREET, CHARLOTTE, NORTH CAROLINA
(Address of Principal Executive Offices)

28288-0630
(Zip Code)

WACHOVIA BANK, NATIONAL ASSOCIATION
225 Water Street, 3rd Floor
Jacksonville, FL 32202
ATTENTION: Corporate Trust Department (FL0122)
(904) 489-3131
(Name, address and telephone number of Agent for Service)

International Speedway Corporation
(Exact Name of Obligor as Specified in its Charter)

Florida
(State or other jurisdiction of Incorporation or Organization)

59-0709342
(I.R.S. Employer Identification No.)

1801 W. International Speedway Boulevard
Daytona Beach, Florida
(Address of Principal Executive Offices)

32114
(Zip Code)

Senior Notes Due 2009 and 2014
(Title of Indenture Securities)

1. GENERAL INFORMATION.

FURNISH THE FOLLOWING INFORMATION AS TO THE TRUSTEE:

a) NAME AND ADDRESS OF EACH EXAMINING OR SUPERVISORY AUTHORITY TO WHICH IT IS
SUBJECT:

Comptroller of the Currency
United States Department of the Treasury
Washington, D.C. 20219

Federal Reserve Bank
Richmond, Virginia 23219

Federal Deposit Insurance Corporation
Washington, D.C. 20429

b) WHETHER IT IS AUTHORIZED TO EXERCISE CORPORATE TRUST POWERS.

Yes.

2. AFFILIATIONS WITH OBLIGOR.

IF THE OBLIGOR IS AN AFFILIATE OF THE TRUSTEE, DESCRIBE EACH SUCH AFFILIATION.

None.

3. VOTING SECURITIES OF THE TRUSTEE.

FURNISH THE FOLLOWING INFORMATION AS TO EACH CLASS OF VOTING SECURITIES OF THE
TRUSTEE:

Not applicable - see answer to Item 13.

4. TRUSTEESHIPS UNDER OTHER INDENTURES.

IF THE TRUSTEE IS A TRUSTEE UNDER ANOTHER INDENTURE UNDER WHICH ANY OTHER
SECURITIES, OR CERTIFICATES OF INTEREST OR PARTICIPATION IN ANY OTHER
SECURITIES, OF THE OBLIGOR ARE OUTSTANDING, FURNISH THE FOLLOWING INFORMATION:

a) TITLE OF THE SECURITIES OUTSTANDING UNDER EACH SUCH OTHER INDENTURE

Not applicable - see answer to Item 13.

b) A BRIEF STATEMENT OF THE FACTS RELIED UPON AS A BASIS FOR THE CLAIM THAT
NO CONFLICTING INTEREST WITHIN THE MEANING OF SECTION 310(b)(1) OF THE ACT
ARISES AS THE RESULT OF THE TRUSTEESHIP UNDER ANY OTHER INDENTURE, INCLUDING A
STATEMENT AS TO HOW THE INDENTURE SECURITIES WILL RANK AS COMPARED WITH THE
SECURITIES ISSUED UNDER SUCH OTHER INDENTURE.

Not applicable - see answer to Item 13.

5. INTERLOCKING DIRECTORATES AND SIMILAR RELATIONSHIPS WITH THE OBLIGOR OR
UNDERWRITERS.

IF THE TRUSTEE OR ANY OF THE DIRECTORS OR EXECUTIVE OFFICERS OF THE TRUSTEE IS A
DIRECTOR, OFFICER, PARTNER, EMPLOYEE, APPOINTEE, OR REPRESENTATIVE OF THE
OBLIGOR OR OF ANY UNDERWRITER FOR THE OBLIGOR, IDENTIFY EACH SUCH PERSON HAVING
ANY SUCH CONNECTION AND STATE THE NATURE OF EACH SUCH CONNECTION.

Not applicable - see answer to Item 13.

6. VOTING SECURITIES OF THE TRUSTEE OWNED BY THE OBLIGOR OR ITS OFFICIALS.

FURNISH THE FOLLOWING INFORMATION AS TO THE VOTING SECURITIES OF THE TRUSTEE
OWNED BENEFICIALLY BY THE OBLIGOR AND EACH DIRECTOR, PARTNER, AND EXECUTIVE
OFFICER OF THE OBLIGOR:

Not applicable - see answer to Item 13.

7. VOTING SECURITIES OF THE TRUSTEE OWNED BY UNDERWRITERS OR THEIR OFFICIALS.

FURNISH THE FOLLOWING INFORMATION AS TO THE VOTING SECURITIES OF THE TRUSTEE
OWNED BENEFICIALLY BY EACH UNDERWRITER FOR THE OBLIGOR AND EACH DIRECTOR,
PARTNER, AND EXECUTIVE OFFICER OF EACH SUCH UNDERWRITER:

Not applicable - see answer to Item 13.

8. SECURITIES OF THE OBLIGOR OWNED OR HELD BY THE TRUSTEE.

FURNISH THE FOLLOWING INFORMATION AS TO SECURITIES OF THE OBLIGOR OWNED
BENEFICIALLY OR HELD AS COLLATERAL SECURITY FOR OBLIGATIONS IN DEFAULT BY THE
TRUSTEE:

Not applicable - see answer to Item 13.

9. SECURITIES OF UNDERWRITERS OWNED OR HELD BY THE TRUSTEE.

IF THE TRUSTEE OWNS BENEFICIALLY OR HOLDS AS COLLATERAL SECURITY FOR OBLIGATIONS
IN DEFAULT ANY SECURITIES OF AN UNDERWRITER FOR THE OBLIGOR, FURNISH THE
FOLLOWING INFORMATION AS TO EACH CLASS OF SECURITIES OF SUCH UNDERWRITER ANY OF
WHICH ARE SO OWNED OR HELD BY THE TRUSTEE:

Not applicable - see answer to Item 13.

10. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF VOTING SECURITIES OF CERTAIN
AFFILIATES OR SECURITY HOLDERS OF THE OBLIGOR.

IF THE TRUSTEE OWNS BENEFICIALLY OR HOLDS AS COLLATERAL SECURITY FOR OBLIGATIONS
IN DEFAULT VOTING SECURITIES OF A PERSON WHO, TO THE KNOWLEDGE OF THE TRUSTEE
(1) OWNS 10 PERCENT OR MORE OF THE VOTING STOCK OF THE OBLIGOR OR (2) IS AN
AFFILIATE, OTHER THAN A SUBSIDIARY, OF THE OBLIGOR, FURNISH THE FOLLOWING
INFORMATION AS TO THE VOTING SECURITIES OF SUCH PERSON:

Not applicable - see answer to Item 13.

11. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF ANY SECURITIES OF A PERSON OWNING 50
PERCENT OR MORE OF THE VOTING SECURITIES OF THE OBLIGOR.

IF THE TRUSTEE OWNS BENEFICIALLY OR HOLDS AS COLLATERAL SECURITY FOR OBLIGATIONS
IN DEFAULT ANY SECURITIES OF A PERSON WHO, TO THE KNOWLEDGE OF THE TRUSTEE, OWNS
50 PERCENT OR MORE OF THE VOTING SECURITIES OF THE OBLIGOR, FURNISH THE
FOLLOWING INFORMATION AS TO EACH CLASS OF SECURITIES OF SUCH PERSON ANY OF WHICH
ARE SO OWNED OR HELD BY THE TRUSTEE:

Not applicable - see answer to Item 13.

12. INDEBTEDNESS OF THE OBLIGOR TO THE TRUSTEE.

EXCEPT AS NOTED IN THE INSTRUCTIONS, IF THE OBLIGOR IS INDEBTED TO THE TRUSTEE,
FURNISH THE FOLLOWING INFORMATION:

Not applicable - see answer to Item 13.

13. DEFAULTS BY THE OBLIGOR.

a) STATE WHETHER THERE IS OR HAS BEEN A DEFAULT WITH RESPECT TO THE
SECURITIES UNDER THIS INDENTURE. EXPLAIN THE NATURE OF ANY SUCH DEFAULT.

None.

b) IF THE TRUSTEE IS A TRUSTEE UNDER ANOTHER INDENTURE UNDER WHICH ANY OTHER
SECURITIES, OR CERTIFICATES OF INTEREST OR PARTICIPATION IN ANY OTHER
SECURITIES, OF THE OBLIGOR ARE OUTSTANDING, OR IS TRUSTEE FOR MORE THAN ONE
OUTSTANDING SERIES OF SECURITIES UNDER THE INDENTURE, STATE WHETHER THERE HAS
BEEN A DEFAULT UNDER ANY SUCH INDENTURE OR SERIES, IDENTIFY THE INDENTURE OR
SERIES AFFECTED, AND EXPLAIN THE NATURE OF ANY SUCH DEFAULT.

None

14. AFFILIATIONS WITH THE UNDERWRITERS.

IF ANY UNDERWRITER IS AN AFFILIATE OF THE TRUSTEE, DESCRIBE EACH SUCH
AFFILIATION.

Not applicable - see answer to Item 13.

15. FOREIGN TRUSTEE.

IDENTIFY THE ORDER OR RULE PURSUANT TO WHICH THE TRUSTEE IS AUTHORIZED TO ACT AS
SOLE TRUSTEE UNDER INDENTURES QUALIFIED OR TO BE QUALIFIED UNDER THE ACT.

Not applicable - trustee is a national banking association organized under
the laws of the United States.

16. LIST OF EXHIBITS.

LIST BELOW ALL EXHIBITS FILED AS PART OF THIS STATEMENT OF ELIGIBILITY.

* 1. Copy of Articles of Association of the trustee as now in effect.

X 2. Copy of the Certificate of the Comptroller of the Currency dated April 4,
2002, evidencing the authority of the trustee to transact business.

3. Copy of the authorization of the trustee to exercise corporate trust
powers, if such authorization is not contained in the documents specified in
paragraph (1) or (2) above.

- - Not applicable

X 4. Copy of existing by-laws of the trustee. Or instruments corresponding
thereto.

__ 5 Copy of each indenture referred to in Item 4, if the obligor is in default.
- -Not Applicable.

X 6 Consent of United States institutional trustees required by Section 321(b)
of the Act.

X 7 Copy of the latest report of condition of the trustee published pursuant to
law or the requirements of its supervising or examining authority at the close
of business on March 31, 2004.

__ 8 Copy of any order pursuant to which the foreign trustee is authorized to
act as sole trustee under indentures qualified or to be qualified under the Act.

-Not Applicable

__ 9. Foreign trustees are required to file a consent to serve of process of
Form F-X [269.5 of this chapter] pursuant to Rule 10a-4 under the Act.

-Not Applicable

- ------------------------
*Previously filed with the Securities and Exchange Commission on April 11,
2002 as an Exhibit to Form T-1 in connection with Registration Statement File
No. 333-86036 and is incorporated by reference herein.

SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, the
trustee, Wachovia Bank, National Association, a national banking association
organized and existing under the laws of the United States of America, has duly
caused this Statement of Eligibility to be signed on its behalf by the
undersigned, thereunto duly authorized, all in the City of Jacksonville and the
State of Florida, on the 11th day of August, 2004.

WACHOVIA BANK, NATIONAL ASSOCIATION

By: /s/ Catherine Eddins
-------------------------------
Catherine Eddins
Trust Officer

[LOGO]

EXHIBIT T-2

Comptroller of the Currency
Administrator of National Banks

Washington, D.C. 20219

CERTIFICATE OF CORPORATE EXISTENCE AND FIDUCIARY POWERS

I, John D. Hawke, Jr., Comptroller of the Currency, do hereby certify that:

1. The Comptroller of the Currency, pursuant to Revised Statutes 324, et
seq., as amended, 12 U.S.C. 1, et seq., as amended, has possession , custody and
control of all records pertaining to the chartering of all National Banking
Associations.

2. "Wachovia Bank, National Association," Charlotte, North Carolina, (Charter
No. 1) is a National Banking Association formed under the laws of the United
States and is authorized thereunder to transact the business of banking and
exercise Fiduciary Powers on the date of this Certificate.

IN TESTIMONY WHEREOF, I have hereunto subscribed my name
and caused my seal of office to be affixed to these
presents at the Treasury Department in the City of
Washington and District of Columbia, this March 19,
2004.

/s/ John D. Hawke, Jr.
[SEAL] ---------------------------
COMPTROLLER OF THE CURRENCY

EXHIBIT T-4

AMENDED AND RESTATED BY-LAWS OF

WACHOVIA BANK, NATIONAL ASSOCIATION

Charter No. 1

Effective October 15, 2002
Amended June 15, 2004

BY-LAWS OF

WACHOVIA BANK, NATIONAL ASSOCIATION

ARTICLE I

Meetings of Shareholders

Section 1.1 Annual Meeting. The annual meeting of the shareholders for the
election of Directors and for the transaction of such other business as may
properly come before the meeting shall be held on the third Tuesday of April in
each year, commencing with the year 2002, except that the Board of Directors
may, from time to time and upon passage of a resolution specifically setting
forth its reasons, set such other date for such meeting during the month of
April as the Board of Directors may deem necessary or appropriate; provided,
however, that if an annual meeting would otherwise fall on a legal holiday, then
such annual meeting shall be held on the second business day following such
legal holiday. The holders of a majority of the outstanding shares entitled to
vote which are represented at any meeting of the shareholders may choose persons
to act as Chairman and as Secretary of the meeting.

Section 1.2 Special Meetings. Except as otherwise specifically provided by
statute, special meetings of the shareholders may be called for any purpose at
any time by the Board of Directors or by any three (3) or more shareholders
owning, in the aggregate, not less than ten percent (10%) of the stock of the
Association. Unless otherwise provided by the laws of the United States, a
notice of the time, place and purpose of every special meeting of the
shareholders shall be given by first-class mail, postage prepaid, mailed at
least ten (10) days prior to the date of such meeting to each shareholder of
record at his address as shown upon the books of this Association.

Section 1.3 Nominations for Directors. Nominations for election to the
Board of Directors may be made by the Board of Directors or by any shareholders
of any outstanding class of capital stock of the Association entitled to vote
for the election of Directors. Nominations, other than those made by or on
behalf of the existing management of the Association, shall be made in writing
and shall be delivered or mailed to the President of the Association and to the
Comptroller of the Currency, Washington, D. C., not fewer than fourteen (14)
days nor more than fifty (50) days prior to any meeting of shareholders called
for the election of Directors, provided, however, that if fewer than twenty-one
(21) days' notice of such meeting is given to shareholders, such nomination
shall be mailed or delivered to the President of the Association and to the
Comptroller of the Currency not later than the close of business on the seventh
day following the day on which the notice of meeting was mailed. Such
notification shall contain the following information to the extent known to the
notifying shareholder: (a) the name and address of each proposed nominee; (b)
the principal occupation of each proposed nominee; (c) the total number of
shares of capital stock of the Association that will be voted for each proposed
nominee; (d) the name and residence address of the notifying shareholder; and
(e) the number of shares of capital stock of the Association owned by the
notifying shareholder. Nominations not made in accordance herewith may, in his
discretion, be disregarded by the chairman of the meeting, and upon his
instructions, the vote tellers may disregard all votes cast for each such
nominee.

FULNC:101710 2

Section 1.4 Judges of Election. The Board may at any time appoint from
among the shareholders three (3) or more persons to serve as Judges of Election
at any meeting of shareholders; to act as judges and tellers with respect to all
votes by ballot at such meeting and to file with the Secretary of the meeting a
Certificate under their hands, certifying the result thereof.

Section 1.5 Proxies. Shareholders may vote at any meeting of the
shareholders by proxies duly authorized in writing, but no officer or employee
of this Association shall act as proxy. Proxies shall be valid only for one
meeting, to be specified therein, and any adjournments of such meeting. Proxies
shall be dated and shall be filed with the records of the meeting.

Section 1.6 Quorum. A majority of the outstanding capital stock,
represented in person or by proxy, shall constitute a quorum at any meeting of
shareholders, unless otherwise provided by law; but less than a quorum may
adjourn any meeting, from time to time, and the meeting may be held, as
adjourned, without further notice. A majority of the votes cast shall decide
every question or matter submitted to the shareholders at any meeting, unless
otherwise provided by law or by the Articles of Association.

ARTICLE II

Directors

Section 2.1 Board of Directors. The Board of Directors (hereinafter
referred to as the "Board"), shall have power to manage and administer the
business and affairs of the Association. Except as expressly limited by law, all
corporate powers of the Association shall be vested in and may be exercised by
said Board.

Section 2.2 Number. The Board shall consist of not fewer than five (5) nor
more than twenty-five (25) Directors, the exact number within such minimum and
maximum limits to be fixed and determined from time to time by resolution of a
majority of the full Board or by resolution of the shareholders at any annual or
special meeting thereof; provided, however, that a majority of the full Board of
Directors may not increase the number of Directors to a number which, (1)
exceeds by more than two (2) the number of Directors last elected by
shareholders where such number was fifteen (15) or fewer, and (2) to a number
which exceeds by more than four (4) the number of Directors last elected by
shareholders where such number was sixteen (16) or more, but in no event shall
the number of Directors exceed twenty-five (25).

Section 2.3 Organization Meeting. The Secretary of the meeting upon
receiving the Certificate of the Judges of Election, of the result of any
election, shall notify the Directors-elect of their election and of the time at
which they are required to meet at the Main Office of the Association for the
purpose of organizing the new Board and electing and appointing officers of the
Association for the succeeding year. Such meeting shall be held as soon
thereafter as practicable. If, at the time fixed for such meeting, there shall
not be a quorum present, the Directors present may adjourn the meeting from time
to time, until a quorum is obtained.

FULNC:101710 3

Section 2.4 Regular Meetings. Regular meetings of the Board of Directors
shall be held at such place and time as may be designated by resolution of the
Board of Directors. Upon adoption of such resolution, no further notice of such
meeting dates or the places or times thereof shall be required. Upon the failure
of the Board of Directors to adopt such a resolution, regular meetings of the
Board of Directors shall be held, without notice, on the third Tuesday in
February, April, June, August, October and December, commencing with April 2002,
at the Main Office or at such other place and time as may be designated by the
Board of Directors. When any regular meeting of the Board would otherwise fall
on a holiday, the meeting shall be held on the next business day unless the
Board shall designate some other day.

Section 2.5 Special Meetings. Special meetings of the Board of Directors
may be called by the President of the Association, or at the request of three
(3) or more Directors. Each member of the Board of Directors shall be given
notice stating the time and place, by telegram, letter, or in person, of each
such special meeting.

Section 2.6 Quorum. A majority of the Directors shall constitute a quorum
at any meeting, except when otherwise provided by law; but a lesser number may
adjourn any meeting, from time to time, and the meeting may be held, as
adjourned, without further notice.

Section 2.7 Vacancies. When any vacancy occurs among the Directors, the
remaining members of the Board, in accordance with the laws of the United
States, may appoint a Director to fill such vacancy at any regular meeting of
the Board, or at a special meeting called for that purpose.

Section 2.8 Advisory Boards. The Board of Directors may appoint Advisory
Boards for each of the States in which the Association conducts operations. Each
such Advisory Board shall consist of as many persons as the Board of Directors
may determine. The duties of each Advisory Board shall be to consult and advise
with the Board of Directors and senior officers of the Association in such State
with regard to the best interests of the Association and to perform such other
duties as the Board of Directors may lawfully delegate. The senior officer in
such State, or such officers as directed by such senior officer, may appoint
advisory boards for geographic regions within such State and may consult with
the State Advisory Boards prior to such appointments.

ARTICLE III

Committees of the Board

Section 3.1 The Board of Directors, by resolution adopted by a majority of
the number of Directors fixed by these By-laws, may designate two (2) or more
Directors to constitute an Executive Committee and other committees, each of
which, to the extent authorized by law and provided in such resolution, shall
have and may exercise all of the authority of the Board of Directors and the
management of the Association. The designation of any committee and the
delegation thereto of authority shall not operate to relieve the Board of
Directors, or any member thereof, of any responsibility or liability imposed
upon it or any member of the Board of Directors by law. The Board of Directors
reserves to itself alone the power to act on (1) dissolution, merger or
consolidation, or disposition of substantially all corporate property, (2)
designation of committees or filling vacancies on the Board of Directors or on a
committee of the Board (except

FULNC:101710 4

as hereinafter provided), (3) adoption, amendment or repeal of these By-laws,
(4) amendment or repeal of any resolution of the Board which by its terms is not
so amendable or repealable, and (5) declaration of dividends, issuance of stock,
or recommendations to shareholders of any action requiring shareholder approval.

The Board of Directors or the Chairman of the Board of Directors of the
Association may change the membership of any committee at any time, fill
vacancies therein, discharge any committee or member thereof either with or
without cause at any time, and change at any time the authority and
responsibility of any such committee.

A majority of the members of any committee of the Board of Directors may
fix such committee's rules of procedure. All action by any committee shall be
reported to the Board of Directors at a meeting succeeding such action, except
such actions as the Board may not require to be reported to it in the resolution
creating any such committee. Any action by any committee shall be subject to
revision, alteration, and approval by the Board of Directors, except to the
extent otherwise provided in the resolution creating such committee; provided,
however, that no rights or acts of third parties shall be affected by any such
revision or alteration.

ARTICLE IV

Officers and Employees

Section 4.1 Officers. The officers of the Association may be a Chairman of
the Board, a Vice Chairman of the Board, one or more Chairmen or Vice Chairmen
(who shall not be required to be Directors of the Association), a President, one
or more Vice Presidents, a Secretary, a Cashier or Treasurer, and such other
officers, including officers holding similar or equivalent titles to the above
in regions, divisions or functional units of the Association, as may be
appointed by the Board of Directors. The Chairman of the Board and the President
shall be members of the Board of Directors. Any two or more offices may be held
by one person, but no officer shall sign or execute any document in more than
one capacity.

Section 4.2 Election, Term of Office, and Qualification. Each officer
shall be chosen by the Board of Directors and shall hold office until the annual
meeting of the Board of Directors held next after his election or until his
successor shall have been duly chosen and qualified, or until his death, or
until he shall resign, or shall have been disqualified, or shall have been
removed from office.

Section 4.3 Officers Acting as Assistant Secretary. Notwithstanding
Section 4.1 of these By-laws, any officer holding the title of Assistant Vice
President or above shall have, by virtue of his office, and by authority of the
By-laws, the authority from time to time to act as an Assistant Secretary of the
Association, and to such extent, said officers are appointed to the office of
Assistant Secretary.

FULNC:101710 5

Section 4.4 Chief Executive Officer. The Board of Directors shall
designate one of its members to be the President of this Association, and the
officer so designated shall be an ex officio member of all committees of the
Association except the Examining Committee, and its Chief Executive Officer
unless some other officer is so designated by the Board of Directors.

Section 4.5 Duties of Officers. The duties of all officers shall be
prescribed by the Board of Directors. Nevertheless, the Board of Directors may
delegate to the Chief Executive Officer the authority to prescribe the duties of
other officers of the Association not inconsistent with law, the charter, and
these By-laws, and to appoint other employees, prescribe their duties, and to
dismiss them. Notwithstanding such delegation of authority, any officer or
employee also may be dismissed at any time by the Board of Directors.

Section 4.6 Other Employees. The Board of Directors may appoint from time
to time such tellers, vault custodians, bookkeepers, and other clerks, agents,
and employees as it may deem advisable for the prompt and orderly transaction of
the business of the Association, define their duties, fix the salary to be paid
them, and dismiss them. Subject to the authority of the Board of Directors, the
Chief Executive Officer or any other officer of the Association authorized by
him, may appoint and dismiss all such tellers, vault custodians, bookkeepers and
other clerks, agents, and employees, prescribe their duties and the conditions
of their employment, and from time to time fix their compensation.

Section 4.7 Removal and Resignation. Any officer or employee of the
Association may be removed either with or without cause by the Board of
Directors. Any employee other than an officer elected by the Board of Directors
may be dismissed in accordance with the provisions of the preceding Section 4.6.
Any officer may resign at any time by giving written notice to the Board of
Directors or to the Chief Executive Officer of the Association. Any such
resignation shall become effective upon its being accepted by the Board of
Directors, or the Chief Executive Officer.

ARTICLE V

Fiduciary Powers

Section 5.1 Trust Services Division. There shall be divisions of this
Association known as the Capital Management Group and the Wealth Management
Group which shall be responsible for the exercise of the fiduciary activities of
this Association.

Section 5.2 Trust Officers. There shall be one or more Officers of this
Association whose duties shall be to manage, supervise and direct all the
fiduciary activities of the Capital Management and Wealth Management Groups.
Further, there shall be one or more Senior Trust Officers designated to assist
the Officers in the performance of their duties. They shall do or cause to be
done all things necessary or proper in carrying out the business of the Capital
Management and Wealth Management Groups in accordance with provisions of
applicable laws and regulations.

Section 5.3 General Trust Committee. There shall be a General Trust
Committee composed of not fewer than four (4) members of the Board of Directors
or officers of this Association who shall be appointed annually, or from time to
time, by the Board of Directors of

FULNC:101710 6

this Association. Each member shall serve until his successor is appointed. The
Board of Directors or the Chairman of the Board may change the membership of the
General Trust Committee at any time, fill any vacancies therein, or discharge
any member thereof with or without cause at any time. The General Trust
Committee shall counsel and advise on all matters relating to the fiduciary
business or affairs of the Capital Management and Wealth Management Groups and
shall adopt overall policies for the conduct of the fiduciary business of the
Capital Management and Wealth Management Groups, including, but not limited to:
general administration, investment policies, new business development, and
review for approval of major assignments of functional responsibilities. The
General Trust Committee shall assign the administration and performance of any
of its fiduciary powers or duties to any subcommittee as it may designate. The
General Trust Committee shall appoint the members of any such subcommittees and
shall determine the number of members which constitutes a quorum at meetings of
such subcommittees. The General Trust Committee shall meet at least quarterly or
as called for by its Chairman or any three (3) members of the Committee. A
quorum shall consist of three (3) members. In carrying out its responsibilities,
the General Trust Committee shall review the actions of all officers, employees
and committees utilized by this Association in connection with the fiduciary
activities of the Capital Management and Wealth Management Groups and may assign
the administration and performance of any fiduciary powers or duties to any
officers or employees of the Capital Management Group or Wealth Management Group
or to any committee it may designate. One of the methods to be used in the
review process will be the scrutiny of the Reports of Examination by the Office
of the Comptroller of the Currency and the reports of the Audit Division of
Wachovia Corporation, as they relate to the activities of the Capital Management
and Wealth Management Groups. These reviews shall be in addition to reviews of
such reports by the Audit Committee of the Board of Directors. The Chairman of
the General Trust Committee shall be appointed by the Board of Directors. The
Chairman of the General Trust Committee shall cause to be recorded in
appropriate minutes all actions taken by the Committee. The minutes shall be
signed by its Secretary and approved by its Chairman. Further, the General Trust
Committee shall make its minutes available to the Board of Directors at its next
regularly scheduled meeting following a meeting of the General Trust Committee.
As required by Section 9.4 of Regulation 9 of the Comptroller of the Currency,
the Board of Directors retains responsibility for the proper exercise of this
Association's fiduciary powers.

Members of the General Trust Committee will abide by the Association's Code of
Conduct as it applies to the Capital Management and Wealth Management Groups.

ARTICLE VI

Stock and Stock Certificates

Section 6.1 Transfers. Shares of stock shall be transferable on the books
of the Association, and a transfer book shall be kept in which all transfers of
stock shall be recorded. Every person becoming a shareholder by such transfer
shall, in proportion to his shares, succeed to all rights and liabilities of the
prior holder of such shares.

Section 6.2 Stock Certificates. Certificates of stock shall bear the
signature of the Chairman, the Vice Chairman, the President, or a Vice President
(which may be engraved, printed, or impressed), and shall be signed manually or
by facsimile process by the Secretary, Assistant Secretary, Cashier, Assistant
Cashier, or any other officer appointed by the Board of Directors for that
purpose, to be known as an Authorized Officer, and the seal of the Association

shall be engraved thereon. Each certificate shall recite on its face that the
stock represented thereby is transferable only upon the books of the Association
properly endorsed.

ARTICLE VII

Corporate Seal

Section 7.1 The President, the Cashier, the Secretary, or any Assistant
Cashier, or Assistant Secretary, or other officer thereunto designated by the
Board of Directors shall have authority to affix the corporate seal to any
document requiring such seal, and to attest the same. Such seal shall be in the
form adopted by the Board of Directors.

ARTICLE VIII

Miscellaneous Provisions

Section 8.1 Fiscal Year. The fiscal year of the Association shall be the
calendar year.

Section 8.2 Execution of Instruments. All agreements, indentures,
mortgages, deeds, conveyances, transfers, certificates, declarations, receipts,
discharges, releases, satisfactions, settlements, petitions, notices,
applications, schedules, accounts, affidavits, bonds, undertakings, proxies, and
other instruments or documents may be signed, executed, acknowledged, verified,
delivered or accepted in behalf of the Association by the Chairman of the Board,
the Vice Chairman of the Board, any Chairman or Vice Chairman, the President,
any Senior Executive Vice President, Executive Vice President, Vice President or
Assistant Vice President, the Secretary, the Cashier or Treasurer, or any
officer holding similar or equivalent titles to the above in any regions,
divisions or functional units of the Association, or, if in connection with the
exercise of fiduciary powers of the Association, by any of said officers or by
any Trust Officer or Assistant Trust Officer (or equivalent titles), and if so
required by applicable law or regulation, attested or countersigned by the
Secretary or Assistant Secretary; provided, however, that where required, any
such instrument shall be attested by one of said officers other than the officer
executing such instrument. Any such instruments may also be executed,
acknowledged, verified, delivered or accepted in behalf of the Association in
such other manner and by such other officers as the Board of Directors may from
time to time direct. The provisions of this Section 8.2 are supplementary to any
other provision of these By-laws.

Section 8.3 Records. The Articles of Association, the By-laws, and the
proceedings of all meetings of the shareholders, the Board of Directors,
standing committees of the Board, shall be recorded in appropriate minute books
provided for the purpose. The minutes of each meeting shall be signed by the
Secretary, Cashier, or other officer appointed to act as Secretary of the
meeting.

Section 8.4 Corporate Governance Procedures. To the extent not
inconsistent with applicable federal banking statutes and these By-laws, the
corporate governance procedures of the relevant provisions of the North Carolina
Business Corporation Act, North Carolina General Statute Chapter 55, will be
followed.

ARTICLE IX

By-laws

Section 9.1 Inspection. A copy of the By-laws, with all amendments
thereto, shall at all times be kept in a convenient place at the Main Office of
the Association, and shall be open for inspection to all shareholders, during
banking hours.

Section 9.2 Amendments. The By-laws may be amended, altered or repealed,
at any regular or special meeting of the Board of Directors, by a vote of a
majority of the whole number of Directors.

ARTICLE X

Emergency By-Laws

Section 10.1. Emergency. In the event of an emergency declared by the
President of the United States or the person performing his functions, the
officers and employees of this Association will continue to conduct the affairs
of the Association under such guidance from the Directors or the Executive
Committee as may be available except as to matters which by statute require
specific approval of the Board of Directors and subject to conformance with any
applicable governmental directives during the emergency.

Section 10.2. Officers Pro Tempore. The surviving members of the Board of
Directors or the Executive Committee shall have the power, in the absence or
disability of any officer, or upon the refusal of any officer to act, to
delegate and prescribe such officer's powers and duties to any other officer, or
to any Director, for the time being.

Section 10.3. Executive Committee Powers. In the event of a state of
disaster of sufficient severity to prevent the conduct and management of the
affairs and business of this Association by its Directors and officers as
contemplated by these By-laws, any two (2) or more available members of the
Board of Directors shall constitute the Executive Committee and shall constitute
a quorum of that Committee for the full conduct and management of the affairs
and business of the Association in accordance with the provisions of Article II
of these By-laws; and in addition, the Executive Committee shall be empowered to
exercise all of the powers reserved to the General Trust Committee under Section
5.3 of Article V hereof. In the event of the unavailability, at such time, of a
minimum of two (2) members of the then incumbent Executive Committee, any three
(3) available Directors shall constitute the Executive Committee for the full
conduct and management of the affairs and business of the Association in
accordance with the foregoing provisions of this section. This By-law shall be
subject to implementation by resolutions of the Board of Directors passed from
time to time for that purpose. Any provisions of these By-laws (other than this
section) and any resolutions which are contrary to the provisions of this
section or to the provisions of any such implementary resolutions shall be
suspended until it shall be determined by an interim Executive Committee acting
under this section that it shall be to the advantage of this Association to
resume the conduct and management of its affairs and business under all of the
other provisions of these By-laws.

Section 10.4. Officer Succession. If consequent upon war or warlike damage
or disaster, the Chief Executive Officer of this Association cannot be located
or is unable to assume or to continue normal executive duties, then the
authority and duties of the Chief Executive Officer

shall, without further action of the Board of Directors, be automatically
assumed by one of the following persons in the order designated:

Chairman
President
Head of the General Bank
Division Head/Area Administrator - Within this officer class,
officers shall take seniority on the basis of length of service in
such office or, in the event of equality, length of service as an
officer of the Association.

Any one of the above persons who in accordance with this Section 10.4
assumes the authority and duties of the Chief Executive Officer shall continue
to serve until he resigns or until five-sixths of the other officers who are
attached to the then acting Main Office decide in writing he is unable to
perform said duties or until the elected Chief Executive Officer of this
Association, or a person higher on the above list, shall become available to
perform the duties of Chief Executive Officer of the Association.

Section 10.5. Certification. Anyone dealing with this Association may
accept a certification by any three (3) officers that a specified individual is
acting as Chief Executive Officer in accordance with this By-law; and that
anyone accepting such certification may continue to consider it in force until
notified in writing of a change, said notice of change to carry the signatures
of three (3) officers of the Association.

Section 10.6. Alternate Locations. The offices of the Association at which
its business shall be conducted shall be the Main Office thereof and each of its
branches, and any other legally authorized location which may be leased or
acquired by this Association to carry on its business. During an emergency
resulting in any authorized place of business of this Association being unable
to function, the business ordinarily conducted at such location shall be
relocated elsewhere in suitable quarters, in addition to or in lieu of the
locations heretofore mentioned, as may be designated by the Board of Directors
or by the Executive Committee or by such persons as are then, in accordance with
resolutions adopted from time to time by the Board of Directors dealing with the
exercise of authority in the time of such emergency, conducting the affairs of
this Association. Any temporarily relocated place of business of this
Association shall be returned to its legally authorized location as soon as
practicable and such temporary place of business shall then be discontinued.

Section 10.7. Acting Main Offices. In case of war or warlike damage or
disaster, the Main Office of this Association, located in Charlotte, North
Carolina, is unable temporarily to continue its functions, the Business
Continuity Plan, as approved by the Board of Directors from time to time, shall
automatically and without further action of this Board of Directors become
effective.

Section 10.8. Resumption of Main Office. The Main Office shall resume its
functions at its legally authorized location as soon as practicable as
determined by the Executive Committee pursuant to Section 10.3 of these By-laws.

EXHIBIT T-6

CONSENT OF THE TRUSTEE

Pursuant to the requirements of Section 321(b) of the Trust Indenture Act
of 1939, and in connection with the proposed issue of International Speedway
Corporation Senior Notes Due 2009 and 2014, Wachovia Bank, National Association,
hereby consents that reports of examinations by Federal, State, Territorial or
District authorities may be furnished by such authorities to the Securities and
Exchange Commission upon request therefor.

WACHOVIA BANK, NATIONAL ASSOCIATION

By: /s/ Catherine Eddins
------------------------------
Catherine Eddins
Trust Officer

Jacksonville, Florida

August 11th, 2004

EXHIBIT T-7

REPORT OF CONDITION

Consolidating domestic and foreign subsidiaries of Wachovia Bank, N.A., at the
close of business on March 31, 2004, published in response to call made by
Comptroller of the Currency, under title 12, United States Code, Section 161.
Charter Number 1 Comptroller of the Currency.

STATEMENT OF RESOURCES AND LIABILITIES

ASSETS
Thousand of Dollars
-------------------
Cash and balance due from depository institutions:
Noninterest-bearing balances and currency and coin............................................... 10,978,000
Interest-bearing balances........................................................................ 4,227,000
Securities............................................................................................. ////////
Held-to-maturity securities (from Schedule RC-B, column A)....................................... 0
Available-for-sale securities (from schedule RC-B, column D)..................................... 101,297,000
Federal funds sold and securities purchased under agreements to resell................................. 0
Federal funds sold in domestic offices................................................................. 945,000
Securities purchased under agreements to resell........................................................ 4,378,000
Loans and lease financing receivables (from Schedule RC-C):
Loan and leases held for sale.................................................................... 14,853,000
Loan and leases, net of unearned income.......................................................... 162,288,000
LESS: Allowance for loan and lease losses........................................................ 2,419,000
LESS: Allocated transfer risk reserve............................................................ 0
Loans and leases, net of unearned income and allowance (item.4.b minus 4.c)...................... 161,869,000
Trading assets (from Schedule RC-D).................................................................... 27,082,000
Premises and fixed assets (including capitalized leases)............................................... 3,720,000
Other real estate owned (from Schedule RC-M)........................................................... 140,000
Investment in unconsolidated subsidiaries and associated companies (from Schedule RC-M)................ 903,000
Customer's liability to this bank on acceptances outstanding........................................... 605,000
Intangible assets......................................................................................
Goodwill......................................................................................... 9,592,000
Other intangible assets (from Schedule RC-M)........................................................... 1,467,000
Other assets (from Schedule RC-F)...................................................................... 22,418,000
TOTAL ASSETS........................................... 364,474,000

LIABILITIES
Deposits:
In domestic offices.............................................................................. 224,687,000
Noninterest-bearing........................................................................... 14,696,000
Interest-bearing.............................................................................. 209,991,000
In foreign offices, Edge and Agreement subsidiaries, and IBFs (from Schedule RC-E, partII)....... 14,162,000
Noninterest-bearing........................................................................... 280,000
Interest-bearing.............................................................................. 13,882,000
Federal funds purchased in domestic offices(2)......................................................... 2,594,000
Securities sold under agreements to repurchase(3)...................................................... 22,207,000
Trading liabilities(from Schedule RC-D)................................................................ 16,996,000
Other borrowed money (includes mortgage indebtedness and obligations under Capitalized leases)
(from Schedule RC-M)................................................................................. 29,231,000
Bank's liability on acceptances executed and outstanding............................................... 613,000
Subordinated notes and debentures...................................................................... 9,352,000
Other liabilities...................................................................................... 11,255,000
TOTAL LIABILITIES...................................................................................... 331,097,000
Minority Interest in consolidated subsidiaries......................................................... 1,499,000

EQUITY CAPITAL
Perpetual preferred stock and related surplus.......................................................... 0
Common Stock........................................................................................... 455,000
Surplus................................................................................................ 24,216,000
Retained Earnings...................................................................................... 5,533,000
Accumulated other comprehensive income................................................................. 1,674,000
Other Equity Capital components........................................................................ 0
Total equity capital (sum of item 23 through 27)....................................................... 31,878,000
Total liabilities and equity capital (sum of items 21,22, and 28....................................... 364,474,000