Bowtiebubba,
Reference to your comment about running electricity 500 ft...I had the same problem and following the Pond Boss Board advice, ran an underground airline 500 feet to the pond instead. It is absolutely no problem for my compressor to push air that far and it is very inexpensive to lay the tubing or pvc pipe in the ground to the pond site. Electric Aeration is a very good thing.
One other observation, if you are in the South, you can establish bahia grass as your ground cover by simply scattering bales of bahia hay over your barren surfaces. It is much easier to establish than bermuda seed although not as pleasing to look at. In my area it is also much more drought tolerant.
