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| SECTION                                                |  HEADING                        | PAGE   |
|--------------------------------------------------------|--------------------------------------|--------|
|                                                   |                                 |   |   |
| Parties                                                |                                 |   | 1 |
|                                                   |                                 |   |   |
| Recitals                                               |                                 | 1      |
|                                                   |                                 |   |   |
| ARTICLE      I                                         | BONDS      OF THE TENTH SERIES       | 7      |
|                                                   | Section      1.1                     |   | 7 |
|                                                   |                                 |   |   |
| ARTICLE      II                                        | COVENANTS      AND RESTRICTIONS      | 10     |
|                                                   | Section      2.1                     |   | 10 |
|                                                   | Section      2.2                     |   | 10 |
|                                                   | Section      2.3                     |   | 10 |
|                                                   | Section      2.4                     |   | 11 |
|                                                   | Section      2.5                     |   | 11 |
|                                                   |                                 |   |   |
| ARTICLE      III                                       |        MISCELLANEOUS PROVISIONS | 11     |
|                                                   | Section 3.1                     |   | 11 |
|                                                   | Section      3.2                     |   | 16 |
|                                                   | Section      3.3                     |   | 16 |
|                                                   | Section      3.4                     |   | 16 |
|                                                   | Section      3.5                     |   | 16 |
|                                                   | Section      3.6                     |   | 17 |
|                                                   | Section      3.7                     |   | 17 |
|                                                   |                                 |   |   |
| Signature      Page                                    |                                 | 18     |
|                                                   |                                 |   |   |
| ATTACHMENTS      TO SUPPLEMENTAL INDENTURE:            |                                 |
|                                                   |                                 |   |   |
| EXHIBIT      A - Form of Bond of the Tenth Series      |                                 |
|                                                   |                                 |
| EXHIBIT      B - Assignment and Irrevocable Bond Power |                                 |

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|   | SUPERIOR      WATER, LIGHT AND POWER COMPANY |
|--------|----------------------------------------------|

|   | By:      /s/ Chris E.  Fleege |
|--------|-------------------------------|

|   | President |
|--------|-----------|

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|   | U.S.      BANK NATIONAL ASSOCIATION, asTrustee |
|--------|------------------------------------------------|

|   | By:      /s/ Richard  Prokosch |
|--------|--------------------------------|

|   | Vice      President |
|--------|---------------------|

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|   |  /s/      Nancy      A. Venne |
|--------|------------------------------------|

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|   |  /s/      Denise R. Landeen |
|--------|----------------------------------|

|   |  Notary      Public, State of Minnesota |
|--------|----------------------------------------------|

|   |  My      Commission expires January 31, 2012 |
|--------|---------------------------------------------------|

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|   | SUPERIOR      WATER, LIGHT AND POWER |
|--------|--------------------------------------|

|   | COMPANY |
|--------|---------|

|   | By                     |
|--------|----------------------------------------------------------------------------------------------------------------------------|

|   | Christopher E.      Fleege |
|--------|---------------------------------|

|   | President |
|--------|-----------|

|   | By                     |
|--------|----------------------------------------------------------------------------------------------------------------------------|

|   | William      S. Bombich |
|--------|-------------------------|

|   | Treasurer |
|--------|-----------|

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|   | U.S.      BANK NATIONAL ASSOCIATION, |
|--------|--------------------------------------|

|   | as      Trustee |
|--------|-----------------|

|   | By                         |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Authorized      Officer |
|--------|-------------------------|

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|   |   |
|--------|--------|

|   |  Notary      Public                     |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------|

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