A place where slut balls have sex and smoke pot. There is nothing else to do but hang out at the "waterloo mall" (rural king) and get kicked out of McDonalds after getting out of the movies. Sometimes you even get kicked out of the movies if you are making out to much and they think you are going to the extremes ... or if you talk too much ... even if you dont talk at all just give one of the ushers a dirty look and you're outta there. Waterloo is also called "Waterhole" or "The Loo" which means toilet or bathroom in England. Well it actually makes sense because the place smells like shit from all of the farmers fertalizing their land. I am a citizen of Waterhole and let me tell you it sucks. Just don't ride the town bicycle she sucks .. or blows i dont know.