Token Catalog has it listed, but with no background information:
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http://tokencatalog.com/token_recor...=370930&attribution_id=509817&record_offset=8
Note the initials ‘HH’ below the ‘NO CASH VALUE’, which is for “Hoffman & Hoffman”, a major token producer in Fort Lauderdale, Florida. At some point in time, they changed name/evolved to become “Hoffman Mint Inc” and now use the initials ’HM’.
http://www.hoffmanmint.com/
They say they have been “minting tokens for thirty-four years” but I think that only relates to the company as “Hoffman Mint”. I believe the “Hoffman & Hoffman” company predates that, back to sometime around the 1970s (?)
They made all kinds of tokens, but I would think something relating to a “water system” will probably be for something like a laundromat or a car wash. They made both types for companies all over America (one of the below was for Anchorage, Alaska):
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