"It was a real needle-in-a-haystack kind of find," officer Kelly told msnbc.com.
"He looked like every other bird that was just sitting on the water," a reference to the white horse's nose and face above the water.
Rescuers made a makeshift harness, tying William to the side of the rescue boat to keep him buoyant.
The return took two hours, with the boat moving at about 1.6km/h.
"Some of the grunts and noises he was making along the way - we weren't sure how he was doing," Kelly said. "He was thrashing around."
William's owner Mindy Peters said the horse had never been swimming before.
- AAP