Alma had been condemned to death. He was clearly in need of remaining out of Noah’s attention. Therefore, he and those who believe what he taught leave the city and gather in a new location. This location is “in the borders of the land.” That suggests that it is away from the city and perhaps in a region that is not often visited. The statement that there were, at times, wild beasts, suggests that it might have been avoided as a location of dangerous animals. In a Mesoamerican setting, this would likely have been the hunting range for one or more jaguars. The fact that there was water nearby made it both attractive to a new group of people, and it also likely influenced the presence of the jaguars who would prey on other animals as they came to drink in the waters.
The place which was called Mormon may have been named for a previous king, but it seems likely that the Mormon who is writing mentions the name because he is named for that location. More than for the person, Mormon would have been named for the events that began there.
While the waters of Mormon were important to the animals of the region, and important to any people who might assemble there, they became important for a much more sacred reason.