The Lake Como Water Association, Inc., was established and incorporated on March 17, 1970, by the action of the State of Florida, to operate and maintain a Community Water System for providing adequate potable water at a reasonable price to the citizens of the Lake Como area. Before that, the community was served for over thirty years by a private company known as the Lake Como Water Supply, owned and operated by Mr. S. H. Palmer.

In September 1969, David B. Smith Engineers, Inc. conducted an engineering study on the water supply system for the community served by the Lake Como Water Association. The engineering firm determined that the well serving Lake Como residents is located in a recharge area for the Floridan aquifer and that the water quality is excellent.