90 Toyota 4Runner Distributor ain't turning while cranking engine

My 90 Toyota 4Runner died yesterday with 234,000 miles, what a sad day it was.
But not for long I am going to have it looked at.
Saturday night drove home just like any other with no problems, Sunday morning was going to go grab a bite at Burger King it failed to start right up like it has always done, didn't even try to start just cranked and cranked and cranked. It was around 15 degrees that night, first thing that pops into my mind is water in the fuel, so I tow it into the garage.. put the reddy heater on it got her all nice and cozy and tried again in a few hours.. nothing. I start looking into other possibilities "fuel pump... it was working and was getting gas to the carb" and checked for spark.. nothing " so I went to the auto store thinking this will be a easy fix, ordered a coil $60 and ignitor $160 , went and picked up thinking I will have my baby on the road within minutes, well put it in and still nothing, it would crank but no spark.
I was puzzled big time, took a break went back out to the garage to look a little deeper.. I take the distributor cap off and notice the rotor was in the same position as it was when I took the distributor cap earlier after cranking it many times, I was thinking what are the chances of it landing in the same spot as it is now.. hmmm.. well I jump in and turn the key and peek through the crack between the hood and see the rotor-distributor isn't turning.. ahh chit we go problems now..
Tonight I had it towed to the Toyota dealer hope they can get to her soon, I sure miss her already.
Have you had this happen before? What could be the cause? timing chain? cam? Timing belt was last replaced in 95 at 88,000 miles.
Should I get a new engine or have them rebuild it or just fix the problem? I have about $4000 I can spend on her right now. Her body is in great shape and hate to give her up.
Email me if you have any ideas,
Thanks for your time.
L.D>
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Your timing belt broke. Get it fixed. Put in a water pump at the same time.

Just a update on my Toyota, for others having this problem.. Last night had it towed into a Toyota Dealership and at 8am it was already in the shop, got a call at 9:30am confirming the problem, they said water pump failed and took out the timing belt, they are replacing the water pump, timing belt and I believe tentioner bearings? Think that is what they said.. and going to put new valve cover gaskets on at my request to stop the oil leakage that it has, for a total of $902 plus tax, which I was expecting to pay like 1200 or so. I will keep ya updated on this.

WOO HOO Brian NAILED IT!

But why did the water pump fail, and it being 15 degrees F? or C?
Antifreeze?
What else frizzed?

I bet the pump is just old and the dealer is talking him into replacing it. The belt probably just broke from age.

"Timing belt was last replaced in 95 at 88,000 miles."
"My 90 Toyota 4Runner died yesterday with 234,000 miles"

That's an old timing belt. I calculate 146K on it. It didn't need a water pump failure to break. :)