New tank with single bottom drilled bulkhead

[Travisolson]

I am fairly new to the hobby, I've had a pretty successful 20 gallon tank for almost 2 years. I recently acquired a 55 gallon tank with a single bottom drilled bulkhead. I've been researching the systems using bulkhead systems but cant seem to find any information for a single hole..my question is what is the best design/setup for a single bulkhead system?

Edit: I am hoping to keep it affordable as much as possible. I don't have a suitable skimmer or anything yet for a tank that size.

 

[gcarroll]

If the tank doesn't have an overflow, the hole was probably for a stand pipe overflow.
If the tank doest have an overflow, the hole was probably the intake for a closed loop.

 

[Travisolson]

It has an in tank overflow that just needs to be glued back in place.