That used to be a water tower. It seems that Paul Bunyan was walking home one night after having a few to many to drink. He had his head down and was looking the other way when he nailed his head on top of the tower. It nocked him cold. When he came to he was seriously irrigated. He ripped the top of the tower off, drop kicked it out of the atmosphere, ( there were reports of a comet being sighted that night as far away as Salt Lake City) and tied the stem into a knot. It remains there to this day.
Damn... 200 views and nobody knows? My wife took the picture and I told her somebody from HT would know. I guess it's a mystery. Tarheel, she liked your response best.