*Settled on cold water (5)
I believe the answer is:
chose
'settled on' is the definition.
(I've seen this in another clue)
'cold water' is the wordplay.
'cold' becomes 'c' (eg on taps).
'water' becomes 'hose' (water a flowerbed say).
'c'+'hose'='CHOSE'
(Other definitions for chose that I've seen before include "item from Paris" , "Picked" , "article from Paris" , "Determined" , "preferred" .)