IMHO, when bass fishing, it depends on the size of the pond. If it's a smaller pond then most likely the fountain keeps the fish away. I haven't caught many in all the ponds that I have fished that have fountains, that were right under the fountain. I will use the water splashing from the fountain as a cover for the bait to enter the water, but I mainly fish the edges.
There 1-2 other ponds that I fish that are much bigger than your average city pond that also have fountains. The one that I fish the most is standing in about 10 feet of water. In this case, I can catch them right under the fountain. While the bass like the moving water, I think they are scared of the noise and the suction.