Exhibit 3.5

RESTATED  ARTICLES OF
INCORPORATION   OF  INTERSTATE POWER AND LIGHT COMPANY

Pursuant
to Section 1007(1) of the Iowa Business Corporation Act, these Restated Articles of
Incorporation shall supersede and take the place of the Corporations existing
Restated Articles of Incorporation and all prior amendments thereto.

ARTICLE I

The
name of the corporation is Interstate Power and Light Company.

ARTICLE II

Section 1.Authorized Capital Stock. The authorized capital stock of the
Corporation shall consist of 40,000,000 shares, of which (i) 24,000,000 shares shall be
designated Common Stock of the par value of $2.50 each; and (ii) 16,000,000
shares shall be designated Preferred Stock of the par value of $.01 each.

Section 2.Preferred Stock. Authority is hereby vested in the Board of Directors to
divide the Preferred Stock into series and, within the limitations set forth in the Iowa
Business Corporation Act, to fix and determine the relative rights and preferences of the
shares of any series so established, including, without limitation:

|1. |  | The
voting power, if any, of the Preferred Stock of such series.
|-- |  | ----------------------------------------------------------------

|2. |  | The
rate and times at which, and the terms and conditions on which, dividends on
          the Preferred Stock of such series may be paid.
|-- |  | ------------------------------------------------------------------------------------------------------------------------------------------

|3. |  | The
price at and the terms and conditions on which the shares of Preferred Stock           of
such series may be redeemed.
|-- |  | --------------------------------------------------------------------------------------------------------------------------

|4. |  | The
right, if any, of holders of shares of Preferred Stock of such series to
          convert the same into, or exchange the same for, other classes of stock of the
          Corporation and the terms and conditions of such conversion or exchange.
|-- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|5. |  | The
rights of the holders of shares of Preferred Stock of such series, including
          without limitation the amount payable on shares of such series, upon the
          voluntary or involuntary liquidation, dissolution or winding up of the
          Corporation.
|-- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|6. |  | Sinking
fund provisions for the redemption or purchase of shares of Preferred           Stock of
such series.
|-- |  | -------------------------------------------------------------------------------------------------------------

In
order to establish such series, the Board of Directors and the Corporation shall comply
with the procedure therefor as provided in the Iowa Business Corporation Act. Upon such
compliance, the resolution of the Board of Directors establishing and designating the
series and fixing and determining the relative rights and preferences thereof shall become
effective and shall constitute an amendment of these Restated Articles of Incorporation.

The
rights of the Common Stock of the Corporation shall be subject to the relative rights and
preferences of the Preferred Stock of each series as fixed herein and from time to time by
the Board of Directors as aforesaid.

The
shares of Preferred Stock may be issued for such consideration as shall be fixed from time
to time by the Board of Directors.

* * *

8.375% Series B
Cumulative Preferred Stock

# Section 1.Designation
and Number.

|(a) |  | There
is hereby created out of the authorized but unissued Preferred Stock a           series
of Preferred Stock designated as 8.375% Series B Cumulative
          Preferred Stock (the Series B Preferred Stock). The
          number of shares constituting the Series B Preferred Stock shall be
          6,000,000.
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) |  | All
shares of the Series B Preferred Stock redeemed, purchased, exchanged,
          converted or otherwise acquired by the Corporation shall be retired and
canceled           and, upon the taking of any action required by applicable law, shall
be restored           to the status of authorized but unissued shares of Preferred Stock,
without           designation as to series, and may thereafter be designated or
redesignated and           issued or reissued as part of any series of Preferred Stock.
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c) |  | Capitalized
terms used herein and not otherwise defined herein or in the           Corporations
Restated Articles of Incorporation shall have the meanings           set forth in Section 7.
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# Section 2.Ranking.

|(a) |  | The
Series B Preferred Stock shall rank, with respect to payment of           dividends
and distribution of assets upon liquidation, dissolution or winding up           of the
Corporation:
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(i) |  | senior
to Junior Stock; and
|--- |  | ---------------------------

|(ii) |  | on
a parity with Parity Stock.
|---- |  | ------------------------------

# Section 3. Dividends.

|(a) |  | The
holders of shares of the Series B Preferred Stock shall be entitled to
          receive, when, as and if declared by the Board of Directors out of funds
legally           available for the payment of dividends, cash dividends at an annual
rate of           8.375% of the Liquidation Preference.
|--- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) |  | All
dividends on the Series B Preferred Stock shall accrue and be           cumulative
from the date of original issuance, subject to the following.           Dividends shall
be payable quarterly in arrears on March 15, June 15,           September 15 and
December 15 of each year, beginning on the First           Dividend Payment Date. If
any of those dates is not a Business Day, then           dividends shall be payable on
the next succeeding Business Day. Dividends shall           be payable on those dates to
holders of record as they appear in the stock           records of the Corporation at the
close of business on the applicable record           date, which shall be the last
Business Day of the month prior to the month in           which the applicable dividend
payment date falls. Holders of shares of the           Series A Preferred Stock
exchanged for shares of the Series B           Preferred Stock will not be entitled
to receive any payments with respect to           unpaid dividends on shares of the Series A
Preferred Stock so exchanged.           Notwithstanding the foregoing, on the First
Dividend Payment Date, each share of           the Series B Preferred Stock that was
issued in exchange for a share of           Series A Preferred Stock shall entitle
the holder thereof to receive, when,           as and if declared by the Board of
Directors out of funds legally available for           the payment of dividends, cash
dividends in an amount equal to the cumulative           dividends to which the holder of
the shares of the Series A Preferred Stock           in exchange for which such
share of the Series B Preferred Stock was issued           would have been entitled
had such share of Series A Preferred Stock been           outstanding on the
applicable record date for such First Dividend Payment Date.           The amount of
dividends payable for the initial dividend period or any period           shorter than a
full dividend period shall be computed on the basis of a 360-day           year
consisting of twelve 30-day months and the actual number of days elapsed in           the
period.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c) |  | The
Board of Directors shall not authorize, and the Corporation shall not pay,           any
dividends on the Series B Preferred Stock or set aside funds for the
          payment of dividends if the terms of any of the Corporations agreements,
          including agreements relating to indebtedness, prohibit that authorization,
          payment or setting aside of funds or provide that the authorization, payment or
          setting aside of funds is a breach of or a default under that agreement, or if
          the authorization, payment or setting aside of funds is restricted or
prohibited           by law.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(d) |  | Notwithstanding
the provisions of Section 3(f), dividends on the           Series B Preferred
Stock shall accrue whether or not the Corporation has           earnings, whether or not
there are funds legally available for the payment of           dividends and whether or
not dividends are authorized. No interest shall be paid           in respect of any
accrued but unpaid dividends on the Series B Preferred           Stock.
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(e) |  | Holders
of shares of the Series B Preferred Stock shall not be entitled to           any
dividends in excess of full cumulative dividends on the Series B           Preferred
Stock as described above. Any dividend payment made on the           Series B
Preferred Stock shall first be credited against the earliest           accrued and unpaid
dividend due.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(f) |  | The
Corporation shall not pay any dividends with respect to Junior Stock if
          dividends payable on the Series B Preferred Stock are in arrears.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------

# Section 4. Liquidation
Preference.

|(a) |  | Upon
any voluntary or involuntary liquidation, dissolution or winding up of the
          Corporation, each holder of shares of the Series B Preferred Stock shall
be           entitled to payment, out of the Corporations assets available for
          distribution to its shareowners, of an amount equal to the Liquidation
          Preference plus an amount equal to all accrued and unpaid dividends on those
          shares to, but excluding, the date of liquidation, dissolution or winding up
          before any distribution is made on any Junior Stock. After payment in full of
          the Liquidation Preference and the amount equal to all accrued and unpaid
          dividends to which holders of shares of the Series B Preferred Stock are
          entitled, the holders of the Series B Preferred Stock shall not be
entitled           to any further participation in any distribution of the Corporations
          assets. If upon any voluntary or involuntary liquidation, dissolution or
winding           up of the Corporation, the amounts payable with respect to shares of
the           Series B Preferred Stock and any Parity Stock are not paid in full,
then           the holders of shares of the Series B Preferred Stock and the holders
of           the Parity Stock shall share equally and ratably in any distribution of the
          Corporations assets in proportion to the full distributable amounts to
          which each such holder is entitled.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) |  | Neither
the voluntary sale, conveyance, exchange or transfer, for cash, shares           of
stock, securities or other consideration, of all or substantially all of the
          Corporations property or assets nor the consolidation, merger or
          amalgamation of the Corporation with or into any other entity or the
          consolidation, merger or amalgamation of any other entity with or into the
          Corporation will be deemed to be a voluntary or involuntary liquidation,
          dissolution or winding up of the Corporation.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# Section 5. Redemption.

|(a) |  | The
Corporation may not redeem the Series B Preferred Stock prior to March           15,
2013. On or after March 15, 2013, the Corporation, at its sole option, may
          redeem the Series B Preferred Stock, out of funds legally available
          therefor, in whole or in part from time to time at a price of $25 per share,
          plus an amount equal to accrued and unpaid dividends to, but excluding, the
          redemption date (the Redemption Price).
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) |  | In
the case of any partial redemption, the Corporation may select the shares of
          the Series B Preferred Stock to be redeemed on a pro rata basis, by lot or
          any other method that the Corporation, in its discretion, deems fair and
          appropriate. However, the Corporation may, without regard to proportionality or
          any other factor, redeem all of the shares of the Series B Preferred Stock
          held by any holders of fewer than 100 shares of the Series B Preferred
          Stock (or all the shares of the Series B Preferred Stock held by holders
          who would hold fewer than 100 shares of the Series B Preferred Stock as a
          result of such redemption).
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c) |  | If
the Corporation elects to redeem the Series B Preferred Stock in the
          manner described in this Section 5, then notice of such redemption (the
          Redemption Notice) shall be given to the holders of record of
shares           of the Series B Preferred Stock not less than 45 nor more than 90
days           before the date of the redemption (the Redemption Date);
provided,           however, that no failure to give such Redemption Notice on or any
deficiency           therein shall affect the validity of the procedure for the
redemption of any           shares of the Series B Preferred Stock to be redeemed
except as to the           holder or holders to whom the Corporation has failed to give
said Redemption           Notice or except as to the holder or holders whose Redemption
Notice was           defective. All such Redemption Notices shall state:
|--- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(i) |  | the
Redemption Date;
|--- |  | --------------------

|(ii) |  | the
Redemption Price;
|---- |  | ---------------------

|(iii) |  | the
total number of shares of the Series B Preferred Stock to be redeemed;
|----- |  | --------------------------------------------------------------------------

|(iv) |  | that
the Redemption Price will become due and payable on the Redemption Date           upon
each such share of Series B Preferred Stock to be redeemed and that
          dividends thereon will cease to accrue on and after the Redemption Date; and
|---- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(v) |  | the
place or places where certificates for the Series B Preferred Stock are           to
be surrendered for payment of the Redemption Price.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------

|(d) |  | Prior
to any Redemption Date, the Corporation shall deposit with a designated           bank or
trust company as paying agent (or, if the Transfer Agent or the           Corporation is
acting as the paying agent, segregate and hold in trust) an           amount of
consideration sufficient to pay the Redemption Price of all shares of           Series B
Preferred Stock which are to be redeemed on that date other than           any Series B
Preferred Stock called for prior to the date of such deposit.
|--- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(e) |  | Notice
of redemption having been given as described above, the Redemption Price           of the
Series B Preferred Stock to be redeemed shall, on the Redemption           Date,
become due and payable, and from and after such date (unless the           Corporation
shall default in the payment of the Redemption Price), such shares           of Series B
Preferred Stock shall no longer be outstanding, dividends on           such Series B
Preferred Stock shall cease to accrue and all rights of           holders thereof as
shareowners of the Corporation (except the right to receive           the Redemption
Price without interest) shall cease. Upon book-entry transfer or           surrender of
any certificate representing any such share of Series B           Preferred Stock
for redemption in accordance with said notice, such Redemption           Price shall
thereupon be paid.
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(f) |  | If
any certificate that represents more than one share of Series B           Preferred
Stock, not all of which are subject to redemption, is surrendered at           any office
or agency of the Corporation designated for that purpose (with, if           the
Corporation or the Transfer Agent so requires, due endorsement by, or a           written
instrument of transfer in form satisfactory to the Corporation and the           Transfer
Agent duly executed by, the holder thereof or such holders           attorney duly
authorized in writing), the Corporation shall execute, and the           Transfer Agent
shall deliver to the holder of such shares of Series B           Preferred Stock
without service charge, a new certificate or certificates,           representing any
number of shares of Series B Preferred Stock, as requested           by such holder,
in an aggregate amount equal to the number of shares not           redeemed and
represented by the certificate so surrendered.
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(g) |  | Payment
of the Redemption Price for the Series B Preferred Stock is           conditioned
upon book-entry transfer or physical delivery of the certificates           representing
the Series B Preferred Stock, together with necessary           endorsements to the
Transfer Agent at any time after delivery of the Redemption           Notice. Payment of
the Redemption Price for the Series B Preferred Stock           will be made
promptly following the later of the Redemption Date and the time of           book-entry
transfer or physical delivery of the certificates representing the           Series B
Preferred Stock subject to redemption.
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(h) |  | If
the Transfer Agent holds money sufficient to pay the Redemption Price of the
          Series B Preferred Stock on the Redemption Date in accordance with the
          terms of this Section 5, then, on the Redemption Date, the Series B
          Preferred Stock will cease to be outstanding, whether or not book-entry
transfer           is made or certificates representing the Series B Preferred Stock
are           delivered to the Transfer Agent. At such time, all rights of a holder as a
          holder of Series B Preferred Stock shall terminate, other than the right
to           receive the Redemption Price.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(i) |  | If
the Redemption Date falls after a dividend payment record date and before the
          related dividend payment date, then the holders of the shares of Series B
          Preferred Stock at the close of business on that dividend payment record date
          will be entitled to receive the dividend payable of those shares on the
          corresponding dividend payment date. However, the Redemption Price payable on
          such Redemption Date will not include dividends accruing on that dividend
          payment record date and payable on the corresponding dividend payment date.
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# Section 6.Voting Rights.

|(a) |  | The
shares of Series B Preferred Stock shall have no voting rights except           as
set forth in this Section 6 or as otherwise provided by Iowa law.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) |  | In
the event that any four quarterly cumulative dividends, whether consecutive or not,
payable on the Series B Preferred Stock are in arrears, the holders of the Series B
Preferred Stock shall have the right, voting separately as a class together with holders
of any Parity Stock upon which like voting rights have been conferred and are
exercisable, at the next meeting of shareowners called for the election of directors, to
elect two members of the Board of Directors. The right of such holders of the Series B
Preferred Stock to elect members of the Board of Directors shall continue until such time
as all dividends accumulated and in arrears on such shares of the Series B Preferred
Stock have been paid in full, at which time such right will terminate, subject to
revesting in the event of each and every subsequent failure to pay dividends as described
above. Upon any termination of the right of the holders of the Series B Preferred
Stock to vote as a class for directors, the term of office of all directors then in
office elected by such holders voting as a class will terminate immediately.
|--- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c) |  | Without
the affirmative vote or consent of the holders of at least two-thirds of           the
outstanding shares of the Series B Preferred Stock, voting as a single
          class, or voting as a single class together with holders of any other series of
          Preferred Stock (i) upon which like voting or consent rights have been
conferred           and (ii) which are similarly affected by the matter to be voted upon,
the           Corporation shall not:
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(i) |  | increase
the amount of authorized shares of the Preferred Stock or create or           issue any
class of stock in addition to the Preferred Stock ranking senior to or           on a
parity with the Preferred Stock, or any series thereof, as to the payment           of
dividends or the distribution of assets;
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(ii) |  | adopt
any amendment to the Restated Articles of Incorporation of the Corporation           that
adversely alters the preferences, powers and rights of the Series B
          Preferred Stock (provided, that Articles of Amendment to issue a series of
          Preferred Stock shall not be considered to adversely alter the preferences,
          powers and rights of the Series B Preferred Stock solely because such series is
          on parity with the Series B Preferred Stock with respect to payment of
dividends           and distribution of assets);
|---- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(iii) |  | issue
any shares of Preferred Stock of any series if the cumulative dividends           payable
on the Series B Preferred Stock are in arrears; or
|----- |  | --------------------------------------------------------------------------------------------------------------------------------------------------

|(iv) |  | create
or issue any shares of Preferred Stock of any series that rank senior to           the
Series B Preferred Stock as to payment of dividends or the distribution           of
assets.
|---- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(d) |  | On
any matter set forth in Section 6(b) or Section 6(c) in which the
          holders of the Series B Preferred Stock are entitled to vote as a class,
          such holders will be entitled to one vote per share. On any other matter for
          which holders of the Series B Preferred Stock are provided the right to
          vote together with holders of the Common Stock under Iowa law, if any, holders
          of the Series B Preferred Stock will be entitled to the number of votes
per           share determined by dividing the Liquidation Preference of such share by
100.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Section 7.Certain Definitions. As used in this Amendment, the following terms
shall have the following meanings, unless the context otherwise requires:

|(a) |  | Board
of Directors means the board of directors of the Corporation.
|--- |  | ---------------------------------------------------------------------

|(b) |  | Business
Day means any day other than a Saturday, Sunday or U.S.           Federal holiday
or day on which commercial banks in the City of New York or the           States of Iowa
or Wisconsin are authorized or required by law or executive order           to close.
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c) |  | First
Dividend Payment Date means the first dividend payment date to           occur
following the date on which shares of the Series B Preferred Stock           are
first issued in exchange for shares of the Series A Preferred Stock.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(d) |  | Junior
Stock means the Common Stock and any other of the           Corporations
equity securities that by their terms rank junior to the           Series B
Preferred Stock with respect to payment of dividends and           distribution of assets
upon the liquidation, dissolution or winding up of the           Corporation.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(e) |  | Liquidation
Preference means $25 per share of the Series B           Preferred Stock.
|--- |  | ---------------------------------------------------------------------------------------

|(f) |  | Parity
Stock means any series of preferred stock established           hereafter by the
Board of Directors, the terms of which expressly provide that           such series will
rank on a parity with the Series B Preferred Stock with           respect to payment
of dividends and distribution of assets upon the liquidation,           dissolution or
winding up of the Corporation.
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(g) |  | Transfer
Agent means the Shareowner Services Department of Alliant           Energy
Corporation, as the transfer agent of the Corporation, and any successor
          transfer agent duly appointed by the Corporation.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Section 8.Headings. The headings of the Sections are for convenience of reference
only and shall not define, limit or affect any of the provisions hereof.

* * *

7.10% Series C
Cumulative Preferred Stock

# Section 1.Designation and
Number.

|(a) |  | There
is hereby created out of the authorized but unissued Preferred Stock a           series
of Preferred Stock designated as 7.10% Series C Cumulative           Preferred Stock (the
Series C Preferred Stock). The number of           shares constituting the
Series C Preferred Stock shall be 1,600,000.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) |  | All
shares of the Series C Preferred Stock redeemed, purchased, exchanged,
          converted or otherwise acquired by the Corporation shall be retired and
canceled           and, upon the taking of any action required by applicable law, shall
be restored           to the status of authorized but unissued shares of Preferred Stock,
without           designation as to series, and may thereafter be designated or
redesignated and           issued or reissued as part of any series of Preferred Stock.
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c) |  | Capitalized
terms used herein and not otherwise defined herein or in the           Corporations
Restated Articles of Incorporation shall have the meanings           set forth in Section 7.
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# Section 2. Ranking.

|(a) |  | The
Series C Preferred Stock shall rank, with respect to payment of dividends           and
distribution of assets upon liquidation, dissolution or winding up of the
          Corporation:
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(i) |  | senior
to Junior Stock; and
|--- |  | ---------------------------

|(ii) |  | on
a parity with Parity Stock.
|---- |  | ------------------------------

Section 3.Dividends.

|(a) |  | The
holders of shares of the Series C Preferred Stock shall be entitled to           receive,
when, as and if declared by the Board of Directors out of funds legally
          available for the payment of dividends, per share cash dividends at an annual
          rate of 7.10% of the Liquidation Preference.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) |  | All
dividends on the Series C Preferred Stock shall accrue and be cumulative           from
the date of original issuance. Dividends shall be payable quarterly in           arrears
on March 15, June 15, September 15 and December 15 of each year,           beginning on
December 15, 2003. If any of those dates is not a Business Day,           then dividends
shall be payable on the next succeeding Business Day. Dividends           shall be
payable on those dates to holders of record as they appear in the stock           records
of the Corporation at the close of business on the applicable record           date,
which shall be the last Business Day of the month prior to the month in           which
the applicable dividend payment date falls. The amount of dividends           payable for
the initial dividend period or any period shorter than a full           dividend period
shall be computed on the basis of a 360-day year consisting of           twelve 30-day
months and the actual number of days elapsed in the period.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c) |  | The
Board of Directors shall not authorize, and the Corporation shall not pay,           any
dividends on the Series C Preferred Stock or set aside funds for the payment           of
dividends if the terms of any of the Corporations agreements, including
          agreements relating to indebtedness, prohibit that authorization, payment or
          setting aside of funds or provide that the authorization, payment or setting
          aside of funds is a breach of or a default under that agreement, or if the
          authorization, payment or setting aside of funds is restricted or prohibited by
          law.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(d) |  | Notwithstanding
the provisions of Section 3(c), dividends on the Series C           Preferred Stock
shall accrue whether or not the Corporation has earnings,           whether or not there
are funds legally available for the payment of dividends           and whether or not
dividends are authorized. No interest shall be paid in           respect of any accrued
but unpaid dividends on the Series C Preferred Stock.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(e) |  | Holders
of shares of the Series C Preferred Stock shall not be entitled to any
          dividends in excess of full cumulative dividends on the Series C Preferred
Stock           as described above. Any dividend payment made on the Series C Preferred
Stock           shall first be credited against the earliest accrued and unpaid dividend
due.
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(f) |  | The
Corporation shall not pay any dividends with respect to Junior Stock if
          dividends payable on the Series C Preferred Stock are in arrears.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------

# Section 4. Liquidation
Preference.

|(a) |  | Upon
any voluntary or involuntary liquidation, dissolution or winding up of the
          Corporation, each holder of shares of the Series C Preferred Stock shall be
          entitled to payment, out of the Corporations assets available for
          distribution to its shareowners, of an amount equal to the Liquidation
          Preference plus an amount equal to all accrued and unpaid dividends on those
          shares to, but excluding, the date of liquidation, dissolution or winding up
          before any distribution is made on any Junior Stock. After payment in full of
          the Liquidation Preference and the amount equal to all accrued and unpaid
          dividends to which holders of shares of the Series C Preferred Stock are
          entitled, the holders of the Series C Preferred Stock shall not be entitled to
          any further participation in any distribution of the Corporations assets.
          If upon any voluntary or involuntary liquidation, dissolution or winding up of
          the Corporation, the amounts payable with respect to shares of the Series C
          Preferred Stock and any Parity Stock are not paid in full, then the holders of
          shares of the Series C Preferred Stock and the holders of the Parity Stock
shall           share equally and ratably in any distribution of the Corporations
assets           in proportion to the full distributable amounts to which each such
holder is           entitled.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) |  | Neither
the voluntary sale, conveyance, exchange or transfer, for cash, shares           of
stock, securities or other consideration, of all or substantially all of the
          Corporations property or assets nor the consolidation, merger or
          amalgamation of the Corporation with or into any other entity or the
          consolidation, merger or amalgamation of any other entity with or into the
          Corporation will be deemed to be a voluntary or involuntary liquidation,
          dissolution or winding up of the Corporation.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# Section 5. Redemption.

|(a) |  | The
Corporation may not redeem the Series C Preferred Stock prior to September           15,
2008. On or after September 15, 2008, the Corporation, at its sole option,           may
redeem the Series C Preferred Stock, out of funds legally available           therefor,
in whole or in part from time to time at a price of $25 per share,           plus an
amount equal to accrued and unpaid dividends to, but excluding, the           redemption
date (the Redemption Price).
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) |  | In
the case of any partial redemption, the Corporation may select the shares of
          the Series C Preferred Stock to be redeemed on a pro rata basis, by lot or any
          other method that the Corporation, in its discretion, deems fair and
          appropriate. However, the Corporation may, without regard to proportionality or
          any other factor, redeem all of the shares of the Series C Preferred Stock held
          by any holders of fewer than 100 shares of the Series C Preferred Stock (or all
          the shares of the Series C Preferred Stock held by holders who would hold fewer
          than 100 shares of the Series C Preferred Stock as a result of such partial
          redemption).
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c) |  | If
the Corporation elects to redeem the Series C Preferred Stock in the manner
          described in this Section 5, then notice of such redemption (the
          Redemption Notice) shall be given to the holders of record of
shares           of the Series C Preferred Stock not less than 45 nor more than 90 days
before           the date of the redemption (the Redemption Date); provided,
however,           that no failure to give such Redemption Notice or any deficiency
therein shall           affect the validity of the procedure for the redemption of any
shares of the           Series C Preferred Stock to be redeemed except as to the holder
or holders to           whom the Corporation has failed to give said Redemption Notice or
except as to           the holder or holders whose Redemption Notice was defective. All
such Redemption           Notices shall state:
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(i) |  | the
Redemption Date;
|--- |  | --------------------

|(ii) |  | the
Redemption Price;
|---- |  | ---------------------

|(iii) |  | the
total number of shares of the Series C Preferred Stock to be redeemed;
|----- |  | --------------------------------------------------------------------------

|(iv) |  | that
the Redemption Price will become due and payable on the Redemption Date           upon
each such share of Series C Preferred Stock to be redeemed and that           dividends
thereon will cease to accrue on and after the Redemption Date; and
|---- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(v) |  | the
place or places where certificates for the Series C Preferred Stock are to           be
surrendered for payment of the Redemption Price.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------

|(d) |  | Prior
to any Redemption Date, the Corporation shall deposit with a designated           bank or
trust company as paying agent (or, if the Transfer Agent or the           Corporation is
acting as the paying agent, segregate and hold in trust) an           amount of
consideration sufficient to pay the Redemption Price of all shares of           Series C
Preferred Stock which are to be redeemed on that date other than any           Series C
Preferred Stock called for redemption prior to the date of such           deposit.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(e) |  | Notice
of redemption having been given as described above, the Redemption Price           of the
Series C Preferred Stock to be redeemed shall, on the Redemption Date,           become
due and payable, and from and after such date (unless the Corporation           shall
default in the payment of the Redemption Price), such shares of Series C
          Preferred Stock shall no longer be outstanding, dividends on such Series C
          Preferred Stock shall cease to accrue and all rights of holders thereof as
          shareowners of the Corporation (except the right to receive the Redemption
Price           without interest) shall cease. Upon book-entry transfer or surrender of
any           certificate representing any such share of Series C Preferred Stock for
          redemption in accordance with said notice, such Redemption Price shall
thereupon           be paid.
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(f) |  | If
any certificate that represents more than one share of Series C Preferred
          Stock, not all of which are subject to redemption, is surrendered at any office
          or agency of the Corporation designated for that purpose (with, if the
          Corporation or the Transfer Agent so requires, due endorsement by, or a written
          instrument of transfer in form satisfactory to the Corporation and the Transfer
          Agent duly executed by, the holder thereof or such holders attorney duly
          authorized in writing), the Corporation shall execute, and the Transfer Agent
          shall deliver to the holder of such shares of Series C Preferred Stock without
          service charge, a new certificate or certificates, representing any number of
          shares of Series C Preferred Stock, as requested by such holder, in an
aggregate           amount equal to the number of shares not redeemed and represented by
the           certificate so surrendered.
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(g) |  | Payment
of the Redemption Price for the Series C Preferred Stock is conditioned           upon
book-entry transfer or physical delivery of the certificates representing           the
Series C Preferred Stock, together with necessary endorsements to the           Transfer
Agent at any time after delivery of the Redemption Notice. Payment of           the
Redemption Price for the Series C Preferred Stock will be made promptly
          following the later of the Redemption Date and the time of book-entry transfer
          or physical delivery of the certificates representing the Series C Preferred
          Stock subject to redemption.
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(h) |  | If
the Transfer Agent holds money sufficient to pay the Redemption Price of the
          Series C Preferred Stock on the Redemption Date in accordance with the terms of
          this Section 5, then, on the Redemption Date, the Series C Preferred Stock
          will cease to be outstanding, whether or not book-entry transfer is made or
          certificates representing the Series C Preferred Stock are delivered to the
          Transfer Agent. At such time, all rights of a holder as a holder of Series C
          Preferred Stock shall terminate, other than the right to receive the Redemption
          Price.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(i) |  | Notwithstanding
the foregoing, if the Redemption Date falls after a dividend           payment record
date and before the related dividend payment date, then the           holders of the
shares of Series C Preferred Stock at the close of business on           that dividend
payment record date will be entitled to receive the dividend           payable on those
shares on the corresponding dividend payment date. However, the           Redemption
Price payable on such Redemption Date will not include dividends           accruing on
that dividend payment record date and payable on the corresponding           dividend
payment date.
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# Section 6. Voting Rights.

|(a) |  | The
shares of Series C Preferred Stock shall have no voting rights except as set
          forth in this Section 6 or as otherwise provided by Iowa law.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) |  | In
the event that any four quarterly cumulative dividends, whether consecutive           or
not, payable on the Series C Preferred Stock are in arrears, the holders of           the
Series C Preferred Stock shall have the right, voting separately as a class
          together with holders of any Parity Stock upon which like voting rights have
          been conferred and are exercisable, at the next meeting of shareowners called
          for the election of directors, to elect two members of the Board of Directors.
          The right of such holders of the Series C Preferred Stock to elect members of
          the Board of Directors shall continue until such time as all dividends
          accumulated and in arrears that are payable on such shares of the Series C
          Preferred Stock have been paid in full, at which time such right will
terminate,           subject to revesting in the event of each and every subsequent
failure to pay           dividends as described above. Upon any termination of the right
of the holders           of the Series C Preferred Stock to vote as a class for
directors, the term of           office of all directors then in office elected by such
holders voting as a class           will terminate immediately.
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c) |  | Without
the affirmative vote or consent of the holders of at least two-thirds of           the
outstanding shares of the Series C Preferred Stock, voting as a single           class,
or voting as a single class together with holders of any other series of
          Preferred Stock (i) upon which like voting or consent rights have been
conferred           and (ii) which are similarly affected by the matter to be voted upon,
the           Corporation shall not:
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(i) |  | increase
the amount of authorized shares of the Preferred Stock or create or           issue any
class of stock in addition to the Preferred Stock ranking senior to or           on a
parity with the Preferred Stock, or any series thereof, as to the payment           of
dividends or the distribution of assets;
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(ii) |  | adopt
any amendment to the Restated Articles of Incorporation of the Corporation           that
adversely alters the preferences, powers and rights of the Series C           Preferred
Stock (provided, that Articles of Amendment to issue a series of           Preferred
Stock shall not be considered to adversely alter the preferences,           powers and
rights of the Series C Preferred Stock solely because such series is           on parity
with the Series C Preferred Stock with respect to payment of dividends           and
distribution of assets);
|---- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(iii) |  | issue
any shares of Preferred Stock of any series if the cumulative dividends           payable
on the Series C Preferred Stock are in arrears; or
|----- |  | --------------------------------------------------------------------------------------------------------------------------------------------------

|(iv) |  | create
or issue any shares of Preferred Stock of any series that rank senior to           the
Series C Preferred Stock as to payment of dividends or the distribution of
          assets.
|---- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(d) |  | On
any matter set forth in Section 6(b) or Section 6(c) in which the
          holders of the Series C Preferred Stock are entitled to vote as a class, such
          holders will be entitled to one vote per share. On any other matter for which
          holders of the Series C Preferred Stock are provided the right to vote together
          with holders of the Common Stock under Iowa law, if any, holders of the Series
C           Preferred Stock will be entitled to the number of votes per share determined
by           dividing the Liquidation Preference of such share by 100.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Section 7.Certain Definitions. As used in this Certificate of Designation, the
following terms shall have the following meanings, unless the context otherwise requires:

|(a) |  | Board
of Directors means the board of directors of the Corporation.
|--- |  | ---------------------------------------------------------------------

|(b) |  | Business
Day means any day other than a Saturday, Sunday or U.S.           Federal holiday
or day on which commercial banks in the City of New York or the           States of Iowa
or Wisconsin are authorized or required by law or executive order           to close.
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c) |  | Junior
Stock means the Common Stock and any other of the           Corporations
equity securities that by their terms rank junior to the           Series C Preferred
Stock with respect to payment of dividends and distribution           of assets upon the
liquidation, dissolution or winding up of the Corporation.
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(d) |  | Liquidation
Preference means $25 per share of the Series C Preferred           Stock.
|--- |  | ---------------------------------------------------------------------------------------

|(e) |  | Parity
Stock means the Series B Preferred Stock of the Corporation           and any
series of preferred stock established hereafter by the Board of           Directors, the
terms of which expressly provide that such series will rank on a           parity with
the Series C Preferred Stock with respect to payment of dividends           and
distribution of assets upon the liquidation, dissolution or winding up of           the
Corporation.
|--- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(f) |  | Transfer
Agent means the Shareowner Services Department of Alliant           Energy
Corporation, as the transfer agent of the Corporation, and any successor
          transfer agent duly appointed by the Corporation.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Section 8.Headings.The headings of the Sections are for convenience of
reference only and shall not define, limit or affect any of the provisions hereof.

* * *

Section 3.Distributions. After the requirements, if any, with respect to
preferential dividends upon the Preferred Stock of all series thereof shall have been met
and after the Corporation shall have complied with all requirements, if any, with respect
to the setting aside of sums as a sinking fund or redemption or purchase account for the
benefit of any series thereof, then, and not otherwise, the holders of Common Stock shall
be entitled to receive such dividends as may be declared from time to time by the Board of
Directors. After distribution in full of the preferential amounts, if any, to be
distributed to the holders of all series of Preferred Stock then outstanding in the event
of a voluntary or involuntary liquidation, dissolution or winding up of the Corporation
and subject to any additional or special rights of the Preferred Stock as to the remaining
assets of the Corporation for distribution, the holders of the Common Stock shall be
entitled to receive the remaining assets of the Corporation available for distribution to
its shareholders ratably in proportion to the number of shares of Common Stock held by
them respectively.

Section 4.Voting Rights. Each holder of Common Stock shall have one vote in
respect of each share of such stock held by such holder. Each holder of Preferred Stock
shall have only such voting rights as are fixed for shares of each series by the Board of
Directors pursuant to Section 2 of this Article IV or are provided, to the
extent applicable, by the Iowa Business Corporation Act.

ARTICLE III

Section 1.Election of Directors. The number of directors constituting the Board of
Directors shall be as fixed from time to time by the Bylaws of the Corporation, but the
number so fixed shall not be less than five (5). The directors of the Corporation shall be
divided into three classes as nearly equal in number as possible, to serve for staggered
three-year terms or until their respective successors are duly elected and qualified as
provided for in the Bylaws of the Corporation. If, at any annual meeting of the
stockholders, directors of more than one class are to be elected, each class of directors
to be elected at such meeting shall be nominated and voted for in a separate election. Any
vacancy occurring in the Board of Directors, including a vacancy created by an increase in
the number of directors, shall be filled until the next succeeding annual meeting of
stockholders by the majority vote of the directors then in office, even if less than a
quorum.

ARTICLE IV

Section 1.Liability. A director of this Corporation shall not be personally liable
to the Corporation or its stockholders for monetary damages for breach of fiduciary duty
as a director, except for liability (i) for any breach of the directors duty of
loyalty to the Corporation or its stockholders, (ii) for acts or omissions not in good
faith or which involve intentional misconduct or knowing violation of the law, (iii) for
any transaction from which the director derived an improper personal benefit, or (iv)
under Section 490.833 of the Iowa Business Corporation Act. If, after approval by the
stockholders of this section, the Iowa Business Corporation Act is amended to permit the
further elimination or limitation of the personal liability of directors, then the
liability of a director of the Corporation shall be eliminated or limited to the fullest
extent permitted by the Iowa Business Corporation Act, as so amended. Any repeal or
modification of this section by the stockholders of the Corporation shall not adversely
affect any right or protection of a director of the Corporation in respect of any act or
omission occurring prior to the time of repeal or modification.

Section 2.Indemnification. The Corporation shall indemnify its directors,
officers, employees and agents to the full extent permitted by the Iowa Business
Corporation Act, as amended from time to time. The Corporation may purchase and maintain
insurance on behalf of any person who is or was a director, officer, employee or agent of
the Corporation, or is or was serving at the request of the Corporation as a director,
officer, employee, or agent of another corporation, partnership, joint venture, trust, or
other enterprise against any liability asserted against and incurred by such person in any
such capacity or arising out of such persons status as such, whether or not the
Corporation would have the power to indemnify such person against such liability under the
provisions of this section.

* * *