1997 Dodge Dakota

Hi:
Water pumps do make a bearing noise sometimes when they go bad. Also, there is a seep hole usually located under the water pump. Eventually, coolant will begin to leak from that point. I would check it now to see if it's wet or stained from leaking. Also, if the bearing is bad, with the engine off, grab the water pump pulley and see if there is any play in the pump by trying to shake it up and down. There shouldn't be any movement.

Joe
PS: Let me know what you find.