I just got this frame for free from a friend:
My best guess is that it's a '75 or '76 UO-8. I want to make a single speed with it, but I am at a loss as to how to handle the French-threaded BB. I am very new to this, so please excuse my ignorance. It appears that there is a bottom bracket, but no spindle. Is that correct?

I assume it will be easiest to buy a new bottom bracket such as the ones from Velo Orange? I am just a little lost on the whole BB and crank setup. Just looking for any direction I can get on what would be a good solution. Am I crazy for trying to convert this?