On September 25, 2002, at 1930 central daylight time, a Cessna 320 twin-engine airplane, N382MR, was substantially damaged when it overran the departure end of the runway during an aborted takeoff from runway 35 at the City-County Airport (05F) near Gatesville, Texas. The airline transport rated pilot, sole occupant of the airplane, was not injured. The airplane, serial number 320-0084, was owned and operated by the pilot. Visual meteorological conditions prevailed for the 14 Code of Federal Regulations Part 91 flight for which a flight plan was not filed. The local flight originated from Gatesville, about 10 minutes prior to the accident. The 3,800-hour pilot reported to the NTSB investigator-in-charge that he had stripped the paint off the fuselage in preparation for a ferry flight the next morning to another airport where the airplane was going to be repainted. Prior to the ferry flight, the pilot wanted to perform a short flight to check all of the systems. The pilot stated that he departed the airport and remained in the local practice area while he checked all the aircraft systems. After returning to the airport he entered the traffic pattern for runway 35. During the approach to land, the pilot elected to perform a touch-and-go landing. After an uneventful touchdown on the 3,400-foot long runway, the pilot retracted the flaps, re-trimmed the airplane, and added power for takeoff. The airplane became airborne within 5 or 6 seconds and the pilot retracted the landing gear. After the gear was retracted, the manifold pressure for the left engine fluctuated and the left engine RPM started surging. The pilot reduced the power on the right engine, released the back pressure, and extended the landing gear in order to land on the remaining runway. The pilot stated that the airplane touched down on the hard surface while the landing gear was still in-transit. The airplane overran the departure end of the runway, collided with a light stand, a fence post, and some small trees prior to coming to rest approximately 300 feet from the departure end of the runway. There was no fire. An eyewitness located at the airport terminal building reported that he observed the airplane doing what appeared to be a landing roll out on runway 35. The witness added that the airplane was about two-third of the way down the runway, when he noticed that the airplane appeared to be accelerating, and subsequently observed the airplane slowing down again, followed by the airplane overrunning the departure end of the runway. The left engine, a Continental TSIO-470-B engine, serial number 100056-8-B-R was examined at the accident site by a representative of the engine manufacturer, under the supervision of an FAA inspector. Control continuity was established and no discrepancies could be found that could have precluded normal engine operations. A review of the engine records revealed that the engine, which was rebuilt at the factory on October 8, 1968, had accumulated a total of 1,656.2 hours. Examination of the airplane by an FAA inspector, who traveled the accident site, confirmed structural damage to the left wing spar. Additionally, the left main landing gear collapsed and was folded aft into the wing assembly, both propellers were damaged, and the bottom of both engine cowlings were damaged.