THE AIRPLANE DEPARTED A RESTRICTED LANDING AREA RUNWAY FOR A LOCAL FLIGHT. SHORTLY AFTER DEPARTING, AT 300 FEET ABOVE THE GROUND, THE AIRPLANE'S ENGINE STOPPED RUNNING. THE PILOT PERFORMED A 180 DEGREE TURN TOWARD THE DEPARTURE RUNWAY. DURING THE TURN THE AIRPLANE STALLED AND SUBSEQUENTLY COLLIDED WITH THE GROUND. THE AIRPLANE WAS DESTROYED BY A POST IMPACT FIRE. THE ON-SCENE INVESTIGATION REVEALED A CARBURETOR FLOAT WITH MULTIPLE CRACKS IN IT. LIQUID EMERSION OF THE FLOAT REVEALED LIQUID PENETRATION INTO THE FLOAT. THE LAST ANNUAL INSPECTION WAS PERFORMED 21 MONTHS PRIOR TO THE ACCIDENT.