On the skis there is no valve in the line. It is routed out the back. That line would be used to back flush the cooling water system on the skis.
I'd looked for a diagram to see where the hose runs to because boats can be set up differently. I found this picture on a 1998 Speedster which may not be your ski. Looks like what we see on the jet skis with the 787 engine. Follow the arrows. Good Luck !!
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