The temple tank is known as the Lakshmi Pushkarini. Legend has it that this pushkarini was created by the Gods, combining the waters from several holy rivers of the land, and that Mahalakshmi (who came out of the milky ocean when it was churned by the gods and the asuras), bathed in this pushkarini and married Vishnu thereafter.
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http://kingofjungles.blogspot.com/search/label/Mangalagiri