The poster had stated could they 'build' a pond.
You don't need running water to 'build' a pond because if you hit the 'water table' the pond would eventually fill up, although not completely.
Now if the pond were built at the end of a running stream, then yes, a water paddle with a generator would work.
"The only problem I see in this, is when the water dries up."
Yep. Unless you build it on a mountain stream that is feed from either a glacier or permanent (semi?) snow cap.