Speedo hook up

[rgag081499]

Ok Im used to the pitot tubes and such that touch the water for the speedo to work , Recently I have purchased a 1996 Bayliner 1800LS with a 120Hp Force. the speedo isnt hooked up nor is there a pitot tube on the hull... I was informed that it gets hooked up to the motor on the lower unit the only place i see is a small hole that faces toward the front of the boat, Is this where i hook up the speedo tubing? I just want to make sure before i hook it up and that hole is supposed to be for something else and cause engine damage... Thanks