Based on context clues in the text below, conserved most nearly means:

the community conserved water during the drought by fixing leaks and installing low-flow faucets

Based on the context clues in the text, conserved most nearly means saved or preserved.

Based on the context clues in the text, the word "conserved" most nearly means to preserve or save.

To determine the meaning of the word "conserved" as used in the given context, we can examine the actions taken by the community during the drought - fixing leaks and installing low-flow faucets. These actions imply that the community made an effort to save or preserve water. Therefore, in this context, "conserved" most nearly means to save or preserve.