Dad's '94 bit the dust... again

Well, I don't know what's up with the darn thing. We finally fixed the problem of it eating belts right and left, and now it left me on the side of the road again.

Well, here's the story... Drove it through town tonight... Everything was going good. Then I start to hear a very quiet "ticking" sound. It was like a very rapid pluse. Then out of nowhere I smell stuff a burning. It smelled like rubber burning, and I thought, "there goes another belt..." but when I opened the hood smoke started pouring out.

I checked both acc belts and they're fine. The smoke was coming from below them. I started it back up and tried to move it out of the road. When I pulled into a spot the thing quit.

It will turn over but not start, so I don't think it's shorting out anywhere. My first thought was the Timing belt. Any thoughts on this? Anyone have one break on them? What did it do? It was to dark where i had it to check the timing belt.

Any ideas?

Thanks guys,

-Rollins