When Meredith Bay (or whatever name it went by back then, Akwa Vista?) was going to be built it was determined that there was not enough capacity and water pressure to service the amount of development that they proposed. They built the tank but it is filled and serviced by Laconia Water Works. It was built to look nice in the neighborhood rather than just be a plain old water tank.
When the tank is almost full the incoming water shuts off and the water pressure is from gravity until the level is low enough to cause the pumps to refill the tank.
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