From Dictionary.com:
"noun, Physics.
1. the lag in response exhibited by a body in reacting to changes in the forces, especially magnetic forces, affecting it."
In electronics this is usually where a system has positive feedback - see EE vid on the Schmitt trigger.
In answer to the 6v requirement, that is the purpose of the 27R 1W resistor:
R=V/I so =Vbatt-Vmotor/Imotor = 9-6/.15 = 3/.15 = 20 ... (I suggested 27R because I thought you said that the motor was 5v)
so lets choose 20R instead:
W=I x I x R = .15 x .15 x 20 ≈ .0.45W so a 0.5W resistor will handle that easily seeing as how the pump will only be on for a few seconds.
If you raise the magnetic switch (I can't really see it on your picture) to the minimum point at which the dipper thing still works then problem solved - there will always be enough water in the upper tank.
View attachment 104981
Why make a complicated circuit when a simple one will do?