Mr Hathaway said just after the fountain vandals had moved off another person entered the camera's visual field and leapt into the fountain, probably unaware that by this time it was spewing out heavily-dyed water.
"So, perhaps he also can be easily identified," he said.
The security camera that caught the crimes had been supplied, on loan, by deputy mayor Graham McClymont while the council awaits a consignment of high definition equipment to be permanently installed.
Mr Hathaway said the local authority would be seeking a criminal prosecution and reparations for the damage caused.
Masterton mayor Lyn Patterson said the key message from the vandalism was that the community would not tolerate or accept it.
The fountain vandalism follows an incident a few days earlier when night-time vandals attacked young trees planted in the square.
Several saplings were snapped off and police who arrived at the scene found empty alcohol bottles strewn about the square.
The same night vandals had also attacked young trees growing along Essex St and had damaged cages used to protect the saplings.
One of the heavy metal cages had been left lying in the middle of the road.
Mrs Patterson said although the fountain vandalism was appalling she had been more distressed with the snapping off of saplings in the square. "That was destroying living things that take time to grow."