I'm not familar with the 2.6L but agree that it does not make sense why you would have to line up the water pump.

I've done the timing belt on a 1998 and it is self adjusting. The tension pulley has a tensioner that you should replace. The new one has a pin it the shaft and once it's installed you pull the pin and it provides the correct tension. You should see a small hole in the steel shaft on the existing tensioner where the original pin was located prior to being pulled out.