(1) The people of the City of Aurora intend that there be no direct or indirect subsidies, whether through the use of public funds or through the abatement, reduction or elimination of any tax burden, for the benefit of any motorized sports facility, including (but not limited to) arenas, stadiums, speedways, dragstrips or speedtracks.

(2) The City of Aurora is hereby prohibited from using any public funds for the acquisition, construction, operation and maintenance of any motorized sports facility, including (but not limited to) arenas, stadiums, speedways, dragstrips or speedtracks. In addition, the City of Aurora is hereby prohibited from granting any abatement, reduction or temporary or permanent elimination of any tax in connection with the acquisition, construction or operation of a motorized sports facility within the City of Aurora. As used in this section, the term "motorized sports facility" includes racetracks, stadiums and arenas, parking lots or garages, support facilities, access roads and highway interchanges for the sole or principal benefit of such facilities, any other supporting infrastructure, and the land on which such facility or infrastructure is located.

(3) This section shall be self-implementing, and shall require no enabling legislation by the Aurora City Council.