1965 Ford Mustang Water pump and Fan drive clutch

if i remember correctly tha spacer is alumninum. The bolts holding the fan blade should go all the way through the spacer. as you re replacing the water pump anyhow, take a propane torch and heat teh spacer by the pump pulley. Then get your trusty BMFH (big mutha f....king hammer) and smack the spacer downwards. It should break loose then. If the pulley is also stuck then continue to heat and take a smaller BMFH and tap around it and cool with penetrating oil. it will probably smoke then tap that on the backside but not hard to not bend it. Then get to your water pump..