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All money paid to the City pursuant to this chapter shall be paid to the City water fund. All money paid to the City pursuant to this chapter shall be used by the City water utility for the purchase of water rights and to process applications for new water rights for the City to be added to the City domestic water utility system. Alternatively, to the extent permitted by the laws of the state of Washington, the City may use the money deposited into the City water fund pursuant to this chapter to finance water conservation measures that have the same effect of expanding the City municipal water system capacity. [Ord. 2021-06 § 1, December 2021.]