The proper method for this in MAP would be to set the Coordinate system of the data, i.e. the county aerial map, insert each data set into it's own individual drawing and save.
Then start a new MAP session, set your desired CS, attach the two files you saved in the steps above, and query in the desired data from them.
MAP will perform any, all required CS conversions as the Query is executed and the data will come in properly aligned.
Or for a single data source, and and Image file alone. Set the proper CS in the file, import your data, then use MAP>>Image and attache your image file there, you will get a chance in that dialog box to enter image file CS, and the active CS, and the data should then align properly, given it is properly georeferenced.