THE PILOT ARRIVED IN THE MINERAL WELLS, TX, AREA, HIS INTENDED DESTINATION, AND STATED HE COULDN'T SEE THE AIRPORT DUE TO THE ROTATING BEACON AND RUNWAY LIGHTS NOT OPERATING. NOTAMED TO THIS EFFECT, HOWEVER, THE AIRPORT SUPERVISOR STATED THAT TO THE BEST OF HIS KNOWLEDGE THE RUNWAY LIGHTS WERE OPERATING. THE PILOT DIVERTED TO POSSUM KINGDOM AIRPORT NEAR GRAFORD, TX. WITH ONLY A FEW MINUTES OF USABLE FUEL. HE ARRIVED IN THE AREA AT 7000 FEET MSL AND STARTED TO SPIRAL DOWN OVER THE AIRPORT. DURING THE SPIRAL, AT 6000 FEET MSL, THE ENGINE QUIT DUE TO FUEL EXHAUSTION, THE SPIRAL CONTINUED AND HE ROLLED OUT ON FINAL APPROACH TOO HIGH AND FAST. HE DELIBERATELY TOUCHED DOWN BESIDE THE RUNWAY IN SOFT TERRAIN TO PREVENT AN OVERRUN WHICH WOULD HAVE RESULTED IN A COLLISION WITH BUILDINGS. THE TOUCHDOWN WAS RATHER HARD, CAUSING THE NOSE AND RIGHT MAIN LANDING GEARS TO COLLAPSE. THE AIRCRAFT THEN FLIPPED INVERTED AND STOPPED.