<PAGE>
                                                           EXHIBIT 4(b)

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE OF A DEPOSITARY. THIS GLOBAL SECURITY IS EXCHANGEABLE FOR SECURITIES
REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE
ONLY IN THE LIMITED CIRCUMSTANCES HEREINAFTER DESCRIBED AND MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE
DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER
NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY NOMINEE TO A SUCCESSOR
OF THE DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR.

REGISTERED                                                           REGISTERED


                              UTILICORP UNITED INC.

                           7.95% SENIOR NOTES DUE 2011

R-1                                                                $250,000,000
CUSIP 918005 AY 5

          UTILICORP UNITED INC., a corporation duly organized and existing
under the laws of Delaware (herein called the "Company", which term includes
any successor corporation under the Indenture hereinafter referred to), for
value received, hereby promises to pay to Cede & Co., or its registered
assigns, the principal sum of TWO HUNDRED AND FIFTY MILLION DOLLARS
($250,000,000) on February 1, 2011, and to pay interest thereon from February
2, 2001, or from the most recent Interest Payment Date to which interest has
been paid or duly provided for, semi-annually in arrears on February 1 and
August 1 in each year, commencing August 1, 2001, at the rates as determined
on the reverse hereof, until the principal hereof is paid or made available
for payment, and, subject to the terms of the Indenture, at the rates as
determined on the reverse hereof on any overdue principal and premium, if
any, and (to the extent that the payment of such interest shall be legally
enforceable) on any overdue installment of interest. The interest so payable,
and punctually paid or duly provided for, on any Interest Payment Date will,
as provided in such Indenture, be paid to the Holder in whose name this
Security (or one or more Predecessor Securities) is registered at the close
of business on the Regular Record Date for such interest payment, which shall
be the January 15 or July 15 (whether or not a Business Day), as the case may
be, next preceding such Interest Payment Date. Any such interest not so
punctually paid or duly provided for shall forthwith cease to be payable to
the Holder on such Regular Record Date, and may either be paid to the Holder
in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on a Special Record Date for the payment
of such Defaulted Interest to be fixed by the Trustee, in which event notice
whereof shall be given to Holders of Securities of this series not less than
10 days prior to such Special Record Date, or may be paid at any time in any
other lawful manner not inconsistent with the

<PAGE>

                                       -2-

requirements of any securities exchange on which the Securities of this
series may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in said Indenture.

          Payment of the principal of and premium, if any, and interest on this
Security will be made at the office or agency of the Trustee maintained for that
purpose in the Borough of Manhattan, The City of New York, in such coin or
currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts. The Company may pay principal by
check payable in such money or by wire transfer to a dollar account maintained
by the holder (if the holder of the Security holds an aggregate principal amount
of Securities in excess of $5,000,000). The Company may pay interest by mailing
a dollar check to a holder's registered address or, upon application by the
holder hereof to the Security Registrar, not later than the applicable record
date, by wire transfer to a dollar account maintained by the holder (if the
holder of the Security holds an aggregate principal amount of Securities in
excess of $5,000,000).

          Reference is hereby made to the further provisions of this Security
set forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

          Unless the certificate of authentication hereon has been executed by
the Trustee referred to on the reverse hereof, or an Authenticating Agent, by
manual signature of one of its authorized officers, this Security shall not be
entitled to any benefit under the Indenture or be valid or obligatory for any
purpose.




<PAGE>




          IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its corporate seal.



                                       UTILICORP UNITED INC.


Dated:  February 2, 2001               By:
                                           -----------------------------------
                                             Name:    Dale J. Wolf
                                             Title:   Treasurer and Secretary



                                       Attest:


                                           -----------------------------------
[Seal]                                       Name:  Douglas P. Evanson
                                             Title:  Assistant Treasurer


TRUSTEE'S CERTIFICATE OF
   AUTHENTICATION

This is one of the Senior
Notes of the series designated
herein referred to in the
within-mentioned Indenture

BANK ONE TRUST COMPANY, NA
   as Trustee


By:
   ------------------------------------
     Name:
     Title:


<PAGE>

                              UTILICORP UNITED INC.

                           7.95% SENIOR NOTE DUE 2011

          This Senior Note is one of a duly authorized series of securities
of the Company (herein called the "Securities"), issued and to be issued in
one or more series under an Indenture, dated as of November 1, 1990, as
amended and supplemented by the Fifteenth Supplemental Indenture dated as of
February 2, 2001 (as amended and supplemented, the "Indenture"), between the
Company and Bank One Trust Company, NA (as successor in interest to The First
National Bank of Chicago), as Trustee (herein called the "Trustee", which
term includes any successor trustee under the Indenture), to which Indenture
and all indentures supplemental thereto reference is hereby made for a
statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the
Securities and the terms upon which the Securities are, and are to be,
authenticated and delivered. This Security is one of the series designated on
the face hereof, limited in aggregate principal amount to $250,000,000.

          1. INTEREST RATE. This Security will bear interest for each Interest
Period (as defined below) at a rate per annum determined by Bank One Trust
Company, NA, or its successor appointed by the Company acting as Calculation
Agent (the "Calculation Agent"). The Interest Rate shall be calculated by
determining any Total Adjustment Amount(s) (as defined below) applicable during
the relevant Interest Period, and the days for which such Total Adjustment
Amount(s) will apply in the calculation of the Interest Rate. Such Interest Rate
shall be equal to 7.95% PLUS any applicable Total Adjustment Amount; PROVIDED
that such sum shall be calculated at a rate per annum equal to the weighted
average of the interest rate in effect on each day of the relevant Interest
Period. Such weighted average shall be calculated by multiplying each such rate
by the number of days such rate is in effect during such Interest Period,
determining the sum of such products and dividing such sum by the number of days
in such Interest Period.

          The period commencing on an Interest Payment Date and ending on the
day preceding the next succeeding Interest Payment Date shall be an "Interest
Period," PROVIDED, HOWEVER, that the first Interest Period shall begin on the
date of the issuance of this Security and extend through July 31, 2001, the day
preceding the first Interest Payment Date.

          Interest payments for this Security will be computed and paid on the
basis of a 360-day year of twelve 30-day months. If an Interest Payment Date
falls on a day that is not a Business Day, such Interest Payment Date will be
the following day that is a Business Day. All dollar amounts resulting from such
calculation will be rounded, if necessary, to the nearest cent with one-half
cent rounded upward.


<PAGE>

                                     -2-

          In the event Moody's Investors Service, Inc. ("Moody's), on the one
hand, or Standard & Poor's Rating Service ("S&P") or Fitch IBCA ("Fitch"), on
the other hand, have assigned to the Company's long-term unsecured debt a rating
(a "Rating") listed under their respective names in the table immediately below
as of any date within an Interest Period, the Calculation Agent shall use the
Adjustment Amount opposite such Rating (an "Adjustment Amount") to determine the
Total Adjustment Amount. The "Total Adjustment Amount" shall be the sum of (i)
the applicable Moody's Adjustment Amount (as defined in the table below), if
any, PLUS (ii) the higher of (A) the applicable S&P Adjustment Amount (as
defined in the table below), if any, and (B) the applicable Fitch Adjustment
Amount (as defined in the table below), if any. Adjustment Amounts, if any,
shall be determined by the Calculation Agent based on the table immediately
below and the respective Ratings of Moody's, S&P and Fitch.

                          INTEREST RATE ADJUSTMENTS

<TABLE>
<S>                                        <C>
            MOODY'S RATING                 "MOODY ADJUSTMENT AMOUNT"
            Ba1                                     0.500%
            Ba2                                     0.750%
            Ba3 or lower                            1.000%

            S&P RATING                      "S&P ADJUSTMENT AMOUNT"
            BB+                                     0.500%
            BB                                      0.750%
            BB- or lower                            1.000%

            FITCH RATING                   "FITCH ADJUSTMENT AMOUNT"
            BB+                                     0.500%
            BB                                      0.750%
            BB- or lower                            1.000%
</TABLE>

          During each Interest Period, promptly upon a determination that the
Interest Rate will be equal to other than 7.95% per annum for a given Interest
Period, the Calculation Agent shall notify the Trustee of the applicable
interest rate adjustments, the days to which each applicable interest rate
applies within the Interest Period, and the Interest Rate expected for the
period if there is no further change to the Company's Rating during such
Interest Period. Upon the request of a Holder of a Security, the Calculation
Agent shall provide to such Holder information to date for the then-current
Interest Period regarding the calculation of the Interest Rate for such Interest
Period.

          2. SINKING FUND. This Security is not subject to any sinking fund.


<PAGE>


                                      -3-

          3. REDEMPTION. This Security may be redeemed at the option of the
Company at any time and from time to time, in whole or in part (if in part, on a
pro rata basis), in cash at a redemption price equal to the greater of (a) 100%
of the principal amount to be redeemed or (b) the sum of the present values of
the remaining scheduled payments of unpaid principal and interest on the
Security being redeemed (or such part of such Security to be redeemed),
discounted to the redemption date on a semi-annual basis (assuming a 360-day
year consisting of twelve 30-day months) at the Treasury Yield plus 30 basis
points, plus in each case accrued and unpaid interest to the redemption date.

          The following terms apply:

          "Treasury Yield" means, for any redemption date, the rate per annum
          equal to the semi-annual equivalent yield to maturity of the
          Comparable Treasury Issue, assuming a price for the Comparable
          Treasury Issue (expressed as a percentage of its principal amount)
          equal to the Comparable Treasury Price for the redemption date.

          "Comparable Treasury Issue" means the United States Treasury security
          selected by an Independent Investment Banker as having a maturity
          comparable to the remaining term of the Security that would be
          utilized, at the time of selection and in accordance with customary
          financial practice, in pricing new issues of corporate debt
          securities of comparable maturity to the remaining term of the
          Security.

          "Independent Investment Banker" means Credit Suisse First Boston
          Corporation or Salomon Smith Barney Inc. or its successor or, if
          Credit Suisse First Boston Corporation or Salomon Smith Barney Inc. or
          its successor is unwilling or unable to select the Comparable Treasury
          Issue, one of the remaining Reference Treasury Dealers appointed by
          the Trustee after consultation with the Company.

          "Comparable Treasury Price" means, for any redemption date, (1) the
          average of the bid and asked prices for the Comparable Treasury Issue
          (expressed in each case as a percentage of its principal amount) on
          the third business day preceding the redemption date, as set forth in
          the daily statistical release (or any successor release) published by
          the Federal Reserve Bank of New York and designated "Composite 3:30
          p.m. Quotations for U.S. Government Securities" or (2) if that release
          (or any successor release) is not published or does not contain those
          prices on that business day, (A) the average of the Reference Treasury
          Dealer Quotations for the redemption date, after excluding the highest
          and lowest Reference Treasury Dealer Quotations for the redemption
          date, or (B) if the Company obtains fewer than four Reference Treasury
          Dealer Quotations, the average of all of the Quotations.

          "Reference Treasury Dealer Quotations" means, for each Reference
          Treasury Dealer and any redemption date, the average, as determined by
          the Trustee, of the bid and asked prices for the Comparable Treasury
          Issue (expressed in each case as


<PAGE>


                                      -4-


          a percentage of its principal amount) quoted in writing to the
          Trustee by the Reference Treasury Dealer at 5:00 p.m. on the third
          business day preceding the redemption date.

          "Reference Treasury Dealer" means (1) each of Credit Suisse First
          Boston Corporation and Salomon Smith Barney Inc. and any other primary
          U.S. Government Securities dealer in New York City (a "Primary
          Treasury Dealer") designated by, and not affiliated with Credit Suisse
          First Boston Corporation or Salomon Smith Barney Inc. and their
          respective successors; provided, however, that if Credit Suisse First
          Boston Corporation or Salomon Smith Barney Inc. or any of their
          designees ceases to be a Primary Treasury Dealer, the Company will
          appoint another Primary Treasury Dealer as a substitute and (2) any
          other Primary Treasury Dealer selected by the Company.

          4. DEFEASANCE. The Indenture contains provisions for defeasance of (a)
the entire indebtedness of this Security and (b) certain restrictive covenants
upon compliance by the Company with certain conditions set forth therein.

          5. EVENTS OF DEFAULT. If an Event of Default with respect to
Securities of this series shall occur and be continuing, the principal of the
Securities of this series may be declared due and payable in the manner and with
the effect provided in the Indenture.

          6. AMENDMENT, SUPPLEMENT AND WAIVER. The Indenture permits, with
certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company and the rights of the
Holders of the Securities of each series to be affected under the Indenture at
any time by the Company and the Trustee with the consent of the Holders of not
less than 66 2/3% in principal amount of the Securities at the time Outstanding
of all series to be affected (voting as a class). The Indenture also contains
provisions permitting the Holders of specified percentages in principal amount
of the Securities of each series at the time Outstanding, on behalf of the
Holders of all Securities of such series, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of
this Security shall be conclusive and binding upon such Holder and upon all
future Holders of this Security and of any Security issued upon the registration
of transfer hereof or in exchange hereof or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Security.

          7. OBLIGATION OF COMPANY. No reference herein to the Indenture and no
provision of this Security or of the Indenture shall alter or impair the
obligation of the Company, which is absolute and unconditional, to pay the
principal of and premium, if any, and interest, if any, on this Security at the
times, place and rate, and in the coin or currency, herein prescribed.

          8. EXCHANGE OF SECURITY. This Security shall be exchangeable for
Securities registered in the names of Persons other than the Depositary with
respect to such series or its nominee only as provided in this paragraph. This
Security shall be so exchangeable if (x) the Depositary notifies the Company
that it is unwilling or unable to continue as Depositary for such series or at
any time ceases to be a clearing agency registered as such under the Securities


<PAGE>


                                     -5-

Exchange Act of 1934, (y) the Company executes and delivers to the Trustee an
Officers' Certificate providing that this Security shall be so exchangeable or
(z) there shall have occurred and be continuing an Event of Default with respect
to the Securities of such series. Securities so issued in exchange for this
Security shall be of the same series, having the same interest rate, if any, and
maturity and having the same terms as this Security, in authorized denominations
and in the aggregate having the same principal amount as this Security and
registered in such names as the Depositary for such Global Security shall
direct.

          9. TRANSFERS OF SECURITY. As provided in the Indenture and subject to
certain limitations therein set forth, the transfer of a Security of the series
of which this Security is a part is registrable in the Security Register, upon
surrender of this Security for registration of transfer at the office or agency
of the Company in any place where the principal of and premium, if any, and
interest, if any, on this Security are payable, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series,
of authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee or transferees.

          10. DENOMINATIONS OF SECURITY. The Securities of the series of which
this Security is a part are issuable only in registered form without coupons in
denominations of $1,000 and in integral multiples thereof. As provided in the
Indenture and subject to certain limitations therein set forth, Securities of
this series are exchangeable for a like aggregate principal amount of Securities
of this series and of like tenor of a different authorized denomination, as
requested by the Holder surrendering the same.

          11. NO SERVICE CHARGE. No service charge shall be made for any such
registration of transfer or exchange, but the Company may require payment of a
sum sufficient to cover any tax or other governmental charge payable in
connection therewith.

          12. PERSONS DEEMED OWNERS. Prior to due presentment of this Security
for registration of transfer, the Company, the Trustee and any agent of the
Company or the Trustee may treat the Holder in whose name this Security is
registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee nor any such agent shall be
affected by notice to the contrary.

          13. GOVERNING LAW. This Security shall be governed by and construed in
accordance with the laws of the State of New York.

          14. TERMS. All terms used in this Security which are defined in the
Indenture shall have the meanings assigned to them in the Indenture.