Toyota Repair: 1989 Toyata Camry, toyata camry, hole in the water

Question
My 89 Camry busted a water line and overheated pretty good. I replaced the line no problem, but there's water leaking from a hole in the water pump.  I also had a slight oil leak, when I pulled over I noticed a puddle (at least half a quart) of oil.  Do I HAVE to replace the water pump, and what made the oil come out?  I would really appreciate your help.

Answer
If coolant is coming out of the small hole on the water pump it has to be replaced,if the oil is coming out under the timing cover in the front then I would recommend replacing the water pump, the timing belt and all the seals in the front of the engine as well as the oil pump seal and the o-ring.