So there is a stud that goes through the AC/Power Steering Pump, and goes through the water pump to hold it in. Well while putting things back together as it turns out, the serpentine belt won't go on at all. The only thing that's been moved is that bracket holding the AC/Power Steering Pump. Here's the kicker, the 3 bolts holding the bracket go into the block fine. Also is there supposed to be an empty hole at the bottom left of said bracket? I don't recall any spacers or anything being on the back of these bracket bolts. Thank you for taking the time to read through this. Any help would be appreciated.

 

If you were able to get all the bolts out that hold the water pump without breaking any of them, are you lucky.
Quite a few times back them , had to get new bolts with extensions from Ford. As I recall some were 3-4 in long.

What we usually did was to make a diagram of the belt routing unless there was a diagram under the hood. We'll see if we can find some diagrams for you to try.

Just type in on google;
1992 Ford 5.0 engine serpentine belt diagram images

All the diagrams are there to see and make sure you have it right.