This is the coolant system I've built into my lathe stand. It consists of a 10 litre plastic jerry can, a $25 centrifugal pump off ebay, a couple of flexible nozzles and a heap of retic pipe and fittings. It's been running for eight years now with no problems. The coolant container was originally on the back of the stand, but proved a little difficult to get to to top up, so, I moved it to the side. It's a sealed looping system, so very little coolant loss and it's continually aerated, so no smells. Here's a video showing it working.