Water on a condenser coil does work (Rheemaire's in the 60's-70's had air and water cooled condensers), but the problems typically outweigh the advantages. The mineral content of the source water, increased rusting of equipment, added cost of water, clogging of the water distribution system, etc. negate most advantages unless the unit is designed for it.
Rheemaire's had a stainless steel pan under the compact condenser coil, but the rest of the unit was just enameled steel - and they rusted profusely. Every year the coil had to be descaled with muriatic acid - then neutralized - and the water nozzles clogged constantly. The water pumps were belt driven, meaning another part to wear out and fail on the hottest day of the year. When they worked they were fairly efficient for their time but by 1980 or so they were discontinued as municipalities started hitting high water use customers with surcharges, basically eliminating any electric cost savings.