Document:

Exhibit 4.2
	 

	 
		 
	 

	 
			
				
				  REGISTERED
				

			 	
				
				  No. 1
				

			 

 

	 
		ILL.C.C. No. 6359 ($400,000,000 issued
		pursuant to Illinois Commerce Commission Docket No. 06-0274)
	 

	 
		MIDAMERICAN ENERGY COMPANY
	 

	 
	 

	 

	 
		5.65% Senior Notes due 2012
	 

	 
	 

	 

	 
		Unless this certificate is presented by an
		authorized representative of The Depository Trust Company, a New York
		corporation (“DTC”), to the Company (as defined below) or its agent
		for registration of transfer, exchange or payment, and any certificate issued
		is registered in the name of Cede & Co., or in such other name as is
		requested by an authorized representative of DTC (and any payment is made to
		Cede & Co. or to such other entity as is requested by an authorized
		representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
		OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner
		hereof, Cede & Co., has an interest herein.
	 

	 
		The following summary of terms is subject to
		the provisions set forth below:
	 

	 
		 
	 

	 
			
				
				  CUSIP: 595620 AF2
				

			 
	
				
				  ORIGINAL ISSUE DATE: June 29,
				  2007
				

			 
	
				
				  PRINCIPAL AMOUNT:
				  $400,000,000.00
				

			 
	
				
				  MATURITY DATE: July 15, 2012
				

			 
	
				
				  INTEREST RATE: 5.65%
				

			 
	
				
				  INTEREST PAYMENT DATES: January 15
				  and July 15, commencing January 15, 2008. 
				

			 
	
				
				  RECORD DATES: January 1 and July
				  1.
				

			 
	
				
				     OPTIONAL
				  REDEMPTION:
				

			 	
				
				  x      Yes
				

			 	
				
				  o     No
				

			 

 

	 
		MidAmerican Energy Company, an Iowa
		corporation (herein called the “Company”, which term includes any
		successor Person under the Indenture referred to on the reverse hereof), for
		value received, hereby promises to pay to CEDE & CO. or registered assigns
		the principal amount of FOUR HUNDRED MILLION DOLLARS ($400,000,000), 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, on the Maturity date
		specified above and to pay interest thereon, in such coin or currency, from and
		including the Original Issue Date specified above, or from and including the
		most recent Interest Payment Date specified above to which interest has been
		paid or duly provided for, as the case may be. Interest shall be paid in
		arrears semiannually on each Interest Payment Date in each year commencing on
		January 15, 2008, at the per annum Interest Rate set forth above until Maturity
		and the principal hereof is paid or made available for payment. The interest so
		payable and punctually paid or duly provided for on any Interest Payment Date
		will, as provided in the Indenture (as defined below), be paid to the Person in
		whose name this Global Security is registered at the close of business on the
		Record Date specified above next preceding such 
	 

	 
		 
	 

	 
		i
	 

	 
		 
	 

	 
	 

	 

	 
		Interest Payment Date; provided, however, that interest payable on the Maturity date or, if
		applicable, upon redemption, shall be payable to the Person to whom principal
		shall be payable. Except as otherwise provided in the Indenture, any such
		interest not so punctually paid or duly provided for will forthwith cease to be
		payable to the Holder on such Record Date and shall be paid to the Person in
		whose name this Global Security is registered at the close of business on a
		Special Record Date for the payment of such Defaulted Interest to be fixed by
		the Company, notice whereof shall be given to Holders not less than ten days
		prior to such Special Record Date. Payment of the principal of and any premium
		and interest on this Global Security shall be made on or before 10:30 A.M., New
		York City time or such other time as shall be agreed upon between the Trustee
		and the Depositary, of the day on which such payment is due, by wire transfer
		into the account specified by the Depositary; provided, however, that as a condition to the payment at the Maturity
		date of any part of the principal of and any applicable premium on this Global
		Security, the Depositary shall surrender, or cause to be surrendered, this
		Global Security to the Trustee. The Company will pay any administrative costs
		imposed by banks in connection with making payments by wire transfer, but not
		any tax or other governmental charge imposed on the Holder of this Global
		Security.
	 

	 
		Under certain circumstances, this Global
		Security is exchangeable in whole or from time to time in part for a definitive
		individual Security or Securities, with the same Original Issue Date, Maturity
		date, Interest Rate and redemption and other provisions as provided herein or
		in the Indenture.
	 

	 
		REFERENCE IS HEREBY MADE TO THE FURTHER
		PROVISIONS OF THIS GLOBAL SECURITY SET FORTH IN FULL ON THE REVERSE HEREOF,
		WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET
		FORTH IN FULL AT THIS PLACE.
	 

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

	 
		 
	 

	 
		ii
	 

	 
		 
	 

	 
	 

	 

	 
		IN WITNESS WHEREOF, the Company has caused
		this instrument to be duly executed.
	 

	 
		Dated: June 29, 2007
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  MIDAMERICAN ENERGY COMPANY
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  By: 
				

			 	
				
				  
 /s/ Brian K. Hankel
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name: Brian K. Hankel

				  Title: Vice President and Treasurer
				

			 

 

	 
		 
	 

	 
		Attest:
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  By: 
				

			 	
				
				  
 /s/ Paul J. Leighton
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				  Name: Paul J. Leighton

				  Title: Vice President and Secretary
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 

 

	 
		 
	 

	 
		TRUSTEE’S CERTIFICATE OF
		AUTHENTICATION
	 

	 
		This is one of the Securities of the series
		designated therein referred to in the within-mentioned Indenture.
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  THE BANK OF NEW YORK TRUST COMPANY,
				  N.A., as Trustee
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  By: 
				

			 	
				
				  
 /s/ Roxane Ellwanger
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name: Roxanne Ellwanger

				  Authorized Officer
				

			 

 

	 
		 
	 

	 
		iii
	 

	 
		 
	 

	 
	 

	 

	 
		[REVERSE OF NOTE]
	 

	 
		MIDAMERICAN ENERGY COMPANY
	 

	 
		5.65% Senior Notes due 2012
	 

	 
		This Global Security is one of, and a global
		security which represents Securities which are part of, the duly authorized
		5.65% Senior Notes due 2012 of the Company (herein called the
		“Securities”), issued under an Indenture dated as of October 1, 2006,
		as amended and supplemented (herein called the “Indenture”), between
		the Company and The Bank of New York Trust Company, N.A., 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, and of the terms upon which the Securities are, and are to be,
		authenticated and delivered.
	 

	 
		Interest on this Global Security will be
		payable on the Interest Payment Date or Interest Payment Dates as specified on
		the face hereof and, in either case, at Maturity. Unless otherwise specified on
		the face hereof, payments on this Global Security with respect to any
		particular Interest Payment Date or the Maturity date will include interest
		accrued from and including the applicable Original Issue Date, or from and
		including the most recent Interest Payment Date to which interest has been paid
		or duly provided for, to but excluding the particular Interest Payment Date or
		the Maturity date. Interest on this Global Security will be computed and paid
		on the basis of a 360-day year of twelve 30-day months. 
	 

	 
		All percentages resulting from any
		calculation with respect to this Global Security will be rounded, if necessary,
		to the nearest one hundred-thousandth of a percentage point (with five
		one-millionths of a percentage point rounded upward) and all dollar amounts
		used in or resulting from any such calculation with respect to this Global
		Security will be rounded to the nearest cent (with one-half cent being rounded
		upward).
	 

	 
		“Business Day” means, unless
		otherwise specified on the face hereof, any Monday, Tuesday, Wednesday,
		Thursday or Friday that in The City of New York is not a day on which banking
		institutions are authorized or obligated by law or executive order to close. In
		any case where any Interest Payment Date, Redemption Date, Repayment Date or
		Stated Maturity of any Security shall not be a Business Day at any Place of
		Payment, then (notwithstanding any other provision of this Indenture or of the
		Securities) payment of interest or principal (and premium, if any) need not be
		made on such date, but may be made on the next succeeding Business Day with the
		same force and effect as if made on the Interest Payment Date, Redemption Date,
		or at the Stated Maturity, provided that no interest shall accrue for the
		period from and after such Interest Payment Date, Redemption Date, or Stated
		Maturity, as the case may be.
	 

	 
		This Global Security will be subject to
		redemption at the option of the Company on any date in whole or from time to
		time in part in increments of $1,000 or integral multiples thereof, at the
		Redemption Prices specified in an annex attached to this Global Security, plus
		accrued interest on the principal amount thereof to the Redemption Date, but
		payments due with respect to this Global Security prior to the Redemption Date
		will be paid to the Person in whose name this Global Security is registered at
		the close of business on the relevant Record Date specified on the face hereof,
		all as provided in the Indenture. The Company may exercise such option by
		causing the Trustee to mail a notice of such redemption, not less than 30 nor
		more than 60 days prior to the Redemption Date, in accordance with the
		provisions of the Indenture. In the event of redemption of this Global Security
		in part only, this Global Security will be cancelled and a new Global Security
		representing the unredeemed portion hereof will be issued in the name of the
		Holder hereof. This Global Security is not subject to a sinking fund.
	 

	 
		 
	 

	 
		1
	 

	 
	 

	 

	 
		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 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 a majority in principal amount of
		the Outstanding Securities of each series that would be affected thereby. The
		Indenture also contains provisions permitting the Holders of not less than a
		majority in principal amount of the Outstanding Securities of a series, on
		behalf of the Holders of all Securities of such series, to waive compliance by
		the Company with certain covenants in the Indenture. The Indenture also
		provides that the Holders of not less than a majority in principal amount of
		the Outstanding Securities of any affected series may on behalf of the Holders
		of all Securities of such series waive certain existing Events of Default and
		their consequences. Any such consent or waiver of the Holder of any Security
		shall bind every future Holder of the same Security and the Holder of every
		Security issued upon the registration of transfer thereof or in exchange
		therefor or in lieu thereof in respect of anything done, omitted or suffered to
		be done by the Trustee or the Company in reliance thereon, whether or not
		notation of such action is made upon such Security.
	 

	 
		As set forth in, and subject to, the
		provisions and limitations set forth in the Indenture, the Holders of at least
		a majority in principal amount of the Outstanding Securities of each series
		shall have any right to direct the time, method and place of conducting any
		proceeding for any remedy available to the Trustee, or exercising any trust or
		power conferred on the Trustee, with respect to the Securities of such
		series.
	 

	 
		THIS GLOBAL SECURITY IS A GLOBAL SECURITY
		REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE THEREOF AND, UNLESS AND
		UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR THE INDIVIDUAL SECURITIES
		REPRESENTED HEREBY, THIS GLOBAL SECURITY 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 SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH
		SUCCESSOR DEPOSITARY.
	 

	 
		If at any time the Depositary for this
		Global Security notifies the Company that it is unwilling or unable to continue
		as Depositary for this Global Security or if at any time the Depositary for
		this Global Security shall no longer be registered or in good standing under
		the Securities Exchange Act of 1934, as amended, or other applicable statute or
		regulation, the Company shall appoint a successor Depositary with respect to
		this Global Security. If a successor Depositary for this Global Security is not
		appointed by the Company within 90 days after the Company receives such notice
		or becomes aware of such condition, the Company shall execute, and the Trustee,
		upon receipt of a Company Order for the authentication and delivery of
		definitive Securities of this series, shall authenticate and deliver Securities
		of this series in definitive form in an aggregate principal amount equal to the
		principal amount of this Global Security in exchange for this Global
		Security.
	 

	 
		The Company may at any time and in its sole
		discretion determine that the Securities of this series shall no longer be
		represented by a Global Security. In such event the Company shall execute, and
		the Trustee, upon receipt of a Company Order for the authentication and
		delivery of definitive Securities of this series, shall authenticate and
		deliver, Securities of this series in definitive registered form without
		coupons, in any authorized denominations, in an aggregate principal amount
		equal to the principal amount of this Global Security, in exchange for this
		Global Security.
	 

	 
		The Company may from time to time, without
		the consent of Holders of the Securities, create and issue further notes having
		the same terms and conditions as the Securities in all respects, except for
		the
	 

	 
		 
	 

	 
		2
	 

	 
		 
	 

	 
	 

	 

	 
		Original Issue Date and Issue Price.
		Additional Securities issued in this manner will be consolidated with, and form
		a single series with, the Securities and shall thereafter be deemed Securities
		for all purposes.
	 

	 
		No reference herein to the Indenture and no
		provision of this Global 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 any premium and interest on this Global Security at the times,
		places and rates, and in the coin or currency, herein prescribed.
	 

	 
		The Indenture contains provisions for the
		satisfaction and discharge of the Indenture upon compliance by the Company with
		certain conditions specified therein, which provisions apply to this Global
		Security.
	 

	 
		The Indenture contains provisions for the
		defeasance and discharge of the Indenture upon compliance by the Company with
		certain conditions specified therein, which provisions apply to this Global
		Security.
	 

	 
		The Indenture contains provisions for the
		defeasance of certain covenants of the Company upon compliance by the Company
		with certain conditions specified therein, which provisions apply to this
		Global Security.
	 

	 
		The Company, the Trustee and any agent of
		the Company or the Trustee may treat the Person in whose name this Global
		Security is registered as the owner of this Global Security for the purpose of
		receiving payment of principal of (and premium, if any) and, subject to Section
		3.07 of the Indenture, interest on this Global Security and for all other
		purposes whatsoever, whether or not this Global Security be overdue, and
		neither the Company, the Trustee nor any agent of the Company or the Trustee
		shall be affected by notice to the contrary.
	 

	 
		The Indenture and the Securities are
		governed by and construed in accordance with the laws of the State of New York
		and for all purposes shall be governed by and construed in accordance with the
		laws of said state without regard to the conflicts of laws rules of said
		state.
	 

	 
		All terms used in this Global Security which
		are defined in the Indenture but are not defined in this Global Security shall
		have the meanings assigned to them in the Indenture.
	 

	 
		 
	 

	 
		3
	 

	 
		 
	 

	 
	 

	 

	 
		ANNEX 1
	 

	 
		OPTIONAL REDEMPTION PROVISIONS
	 

	 
		The Securities will be redeemable as a whole
		at any time or in part, from time to time, at the option of the Company, at a
		Redemption Price equal to the sum of (a) the greater of (i) 100% of the
		principal amount of the Securities being redeemed and (ii) the sum of the
		present values of the remaining scheduled payments of principal and interest
		thereon from the Redemption Date to the maturity date, computed by discounting
		such payments, in each case, to the Redemption Date on a semi-annual basis
		(assuming a 360-day year consisting of twelve 30-day months) at the Treasury
		Rate plus 15 basis points, plus (b) accrued interest on the principal amount
		thereof to 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 Securities
		to be redeemed 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.
	 

	 
		“Comparable Treasury Price” means,
		with respect to any Redemption Date, (i) 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 in New York City
		preceding such 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 (ii) if such release (or any successor release) is not
		published or does not contain such prices on such business day, the Reference
		Treasury Dealer Quotation for such redemption date.
	 

	 
		“Independent Investment Banker”
		means an investment banking institution of international standing appointed by
		the Company.
	 

	 
		“Reference Treasury Dealer” means
		a primary U.S. government securities dealer in New York City appointed by the
		Company.
	 

	 
		“Reference Treasury Dealer
		Quotation” means, with respect to the Reference Treasury Dealer and any
		redemption date, the average, as determined by the Company, of the bid and
		asked prices for the Comparable Treasury Issue (expressed in each case as a
		percentage of its principal amount and quoted in writing to the Company by such
		Reference Treasury Dealer at 5:00 p.m. on the third business day in New York
		City preceding such redemption date).
	 

	 
		“Treasury Rate” means the rate per
		annum equal to the semi-annual equivalent or interpolated (on a day-count
		basis) 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 that redemption date.
	 

	 
		Notice of any redemption will be mailed at
		least 30 days but not more than 60 days before the Redemption Date to each
		holder of the Securities to be redeemed. If, at the time notice of redemption
		is given, the redemption moneys are not held by the Trustee, the redemption may
		be made subject to their receipt on or before the Redemption Date and such
		notice shall be of no effect unless such moneys are so 
	 

	 
		 
	 

	 
		4
	 

	 
		 
	 

	 
	 

	 

	 
		received. Upon payment of the Redemption
		Price, on and after the Redemption Date interest will cease to accrue on
		Securities or portions thereof called for redemption.
	 

	 
		 
	 

	 
		5
	 

	 
		 
	 

	 
	 

	 

	 
		ABBREVIATIONS 
	 

	 
		The following abbreviations, when used in
		the inscription of the face of this instrument, shall be construed as though
		they were written out in full according to applicable laws or
		regulations:
	 

	 
		 
	 

	 
			
				
				  TEN COM –
				

			 	
				
				   
				

			 	
				
				  as tenants in common
				

			 
	
				
				  TEN ENT –
				

			 	
				
				   
				

			 	
				
				  as tenants by the entireties
				

			 
	
				
				  JT TEN –
				

			 	
				
				   
				

			 	
				
				  as joint tenants with right of
				  survivorship and not as tenants in common
				

			 
	
				
				  UNIT GIFT MIN ACT –
				

			 	
				
				   
				

			 	
				
				  __________________ (Cust)
				  Custodian
 __________________ (Minor)
				  under Uniform Gifts to Minors Act
				

				
				  ____________________________________
				  
 
				                                (State)
				

			 

 

	 
		Additional abbreviations may also be used
		though not in the above list.
	 

	 
		FOR VALUE RECEIVED the undersigned hereby
		sell(s), assign(s) and transfer(s) unto
	 

	 
		PLEASE INSERT SOCIAL SECURITY OR OTHER
		IDENTIFYING NUMBER OF ASSIGNEE:
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
 
 
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 
	
				
				   
				

			 
	
				
				  Please print or typewrite name and
				  address
 including postal zip code of
				  assignee
				

				
				   
				

			 
	
				
				   
				

			 

 

	 
		 
	 

	 
		the within Security and all rights
		thereunder, hereby irrevocably constituting and appointing
		_____________________ attorney to transfer said Security on the books of the
		Company, with full power of substitution in the premises.
	 

	 
		Dated:___________________
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  NOTICE: The signature to this
				  assignment must correspond with the name as written upon the face of the within
				  instrument in every particular, without alteration or enlargement or any change
				  whatever. The signature must be guaranteed by a commercial bank, a trust
				  company or a member of the New York Stock Exchange.
				

			 

 

	 
		 
	 

	 
		6Exhibit 4.3
	 

	 
		 
	 

	 
			
				
				  REGISTERED
				

			 	
				
				   
				

			 	
				
				  No. 1
				

			 

 

	 
		ILL.C.C. No. 6414 ($153,610 issued pursuant
		to Illinois Commerce Commission Docket No. 07-0199)
	 

	 
		ILL.C.C. No. 6360 ($96,390 issued pursuant
		to Illinois Commerce Commission Docket No. 06-0274)
	 

	 
		MIDAMERICAN ENERGY COMPANY
	 

	 
	 

	 

	 
		5.95% Senior Notes due 2017
	 

	 
	 

	 

	 
		Unless this certificate is presented by an
		authorized representative of The Depository Trust Company, a New York
		corporation (“DTC”), to the Company (as defined below) or its agent
		for registration of transfer, exchange or payment, and any certificate issued
		is registered in the name of Cede & Co., or in such other name as is
		requested by an authorized representative of DTC (and any payment is made to
		Cede & Co. or to such other entity as is requested by an authorized
		representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
		OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner
		hereof, Cede & Co., has an interest herein.
	 

	 
		The following summary of terms is subject to
		the provisions set forth below:
	 

	 
		 
	 

	 
			
				
				  CUSIP: 595620 AG0
				

			 
	
				
				  ORIGINAL ISSUE DATE: June 29,
				  2007
				

			 
	
				
				  PRINCIPAL AMOUNT:
				  $250,000,000.00
				

			 
	
				
				  MATURITY DATE: July 15, 2017
				

			 
	
				
				  INTEREST RATE: 5.95%
				

			 
	
				
				  INTEREST PAYMENT DATES: January 15
				  and July 15, commencing January 15, 2008. 
				

			 
	
				
				  RECORD DATES: January 1 and July
				  1.
				

			 
	
				
				  OPTIONAL REDEMPTION:
				

			 	
				
				  x   Yes
				

			 	
				
				  o   No
				

			 

 

	 
		MidAmerican Energy Company, an Iowa
		corporation (herein called the “Company”, which term includes any
		successor Person under the Indenture referred to on the reverse hereof), for
		value received, hereby promises to pay to CEDE & CO. or registered assigns
		the principal amount of TWO HUNDRED FIFTY MILLION DOLLARS ($250,000,000), 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, on the Maturity date
		specified above and to pay interest thereon, in such coin or currency, from and
		including the Original Issue Date specified above, or from and including the
		most recent Interest Payment Date specified above to which interest has been
		paid or duly provided for, as the case may be. Interest shall be paid in
		arrears semiannually on each Interest Payment Date in each year commencing on
		January 15, 2008, at the per annum Interest Rate set forth above until Maturity
		and the principal hereof is paid or made available for payment. The interest so
		payable and punctually paid or duly provided for on any Interest Payment Date
		will, as provided in the Indenture (as defined below), be paid to the Person in
		whose name this Global 
	 

	 
		 
	 

	 
		 
	 

	 
		i
	 

	 
		 
	 

	 
	 

	 

	 
		Security is registered at the close of
		business on the Record Date specified above next preceding such Interest
		Payment Date; provided,
		however, that interest payable on the
		Maturity date or, if applicable, upon redemption, shall be payable to the
		Person to whom principal shall be payable. Except as otherwise provided in the
		Indenture, any such interest not so punctually paid or duly provided for will
		forthwith cease to be payable to the Holder on such Record Date and shall be
		paid to the Person in whose name this Global Security is registered at the
		close of business on a Special Record Date for the payment of such Defaulted
		Interest to be fixed by the Company, notice whereof shall be given to Holders
		not less than ten days prior to such Special Record Date. Payment of the
		principal of and any premium and interest on this Global Security shall be made
		on or before 10:30 A.M., New York City time or such other time as shall be
		agreed upon between the Trustee and the Depositary, of the day on which such
		payment is due, by wire transfer into the account specified by the Depositary;
		provided, however, that as a condition to the payment at the Maturity
		date of any part of the principal of and any applicable premium on this Global
		Security, the Depositary shall surrender, or cause to be surrendered, this
		Global Security to the Trustee. The Company will pay any administrative costs
		imposed by banks in connection with making payments by wire transfer, but not
		any tax or other governmental charge imposed on the Holder of this Global
		Security.
	 

	 
		Under certain circumstances, this Global
		Security is exchangeable in whole or from time to time in part for a definitive
		individual Security or Securities, with the same Original Issue Date, Maturity
		date, Interest Rate and redemption and other provisions as provided herein or
		in the Indenture.
	 

	 
		REFERENCE IS HEREBY MADE TO THE FURTHER
		PROVISIONS OF THIS GLOBAL SECURITY SET FORTH IN FULL ON THE REVERSE HEREOF,
		WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET
		FORTH IN FULL AT THIS PLACE.
	 

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

	 
		 
	 

	 
		 
	 

	 
		ii
	 

	 
		 
	 

	 
	 

	 

	 
		IN WITNESS WHEREOF, the Company has caused
		this instrument to be duly executed.
	 

	 
		 
	 

	 
			
				
				  Dated: June 29, 2007
				

			 	 	 
	 	
				
				   
				

			 	
				
				  MIDAMERICAN ENERGY COMPANY
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  By: 
				

			 	
				
				  
 /s/ Brian K. Hankel
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name: Brian K. Hankel
				

				
				  Title: Vice President and
				  Treasurer
				

			 

 

	 
		 
	 

	 
			
				
				  Attest:
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  By: 
				

			 	
				
				  
 /s/ Paul J. Leighton
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				  Name: Paul J. Leighton 
				

				
				  Title: Vice President and
				  Secretary
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 

 

	 
		TRUSTEE’S CERTIFICATE OF
		AUTHENTICATION
	 

	 
		This is one of the Securities of the series
		designated therein referred to in the within-mentioned Indenture.
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  THE BANK OF NEW YORK TRUST COMPANY,
				  N.A., as Trustee
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  By: 
				

			 	
				
				  
 /s/ Roxane Ellwanger
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name: Roxane Ellwanger
				

				
				  Authorized Officer
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		iii
	 

	 
		 
	 

	 
	 

	 

	 
		[REVERSE OF NOTE]
	 

	 
		MIDAMERICAN ENERGY COMPANY
	 

	 
		5.95% Senior Notes due 2017
	 

	 
		This Global Security is one of, and a global
		security which represents Securities which are part of, the duly authorized
		5.95% Senior Notes due 2017 of the Company (herein called the
		“Securities”), issued under an Indenture dated as of October 1, 2006,
		as amended and supplemented (herein called the “Indenture”), between
		the Company and The Bank of New York Trust Company, N.A., 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, and of the terms upon which the Securities are, and are to be,
		authenticated and delivered.
	 

	 
		Interest on this Global Security will be
		payable on the Interest Payment Date or Interest Payment Dates as specified on
		the face hereof and, in either case, at Maturity. Unless otherwise specified on
		the face hereof, payments on this Global Security with respect to any
		particular Interest Payment Date or the Maturity date will include interest
		accrued from and including the applicable Original Issue Date, or from and
		including the most recent Interest Payment Date to which interest has been paid
		or duly provided for, to but excluding the particular Interest Payment Date or
		the Maturity date. Interest on this Global Security will be computed and paid
		on the basis of a 360-day year of twelve 30-day months. 
	 

	 
		All percentages resulting from any
		calculation with respect to this Global Security will be rounded, if necessary,
		to the nearest one hundred-thousandth of a percentage point (with five
		one-millionths of a percentage point rounded upward) and all dollar amounts
		used in or resulting from any such calculation with respect to this Global
		Security will be rounded to the nearest cent (with one-half cent being rounded
		upward).
	 

	 
		“Business Day” means, unless
		otherwise specified on the face hereof, any Monday, Tuesday, Wednesday,
		Thursday or Friday that in The City of New York is not a day on which banking
		institutions are authorized or obligated by law or executive order to close. In
		any case where any Interest Payment Date, Redemption Date, Repayment Date or
		Stated Maturity of any Security shall not be a Business Day at any Place of
		Payment, then (notwithstanding any other provision of this Indenture or of the
		Securities) payment of interest or principal (and premium, if any) need not be
		made on such date, but may be made on the next succeeding Business Day with the
		same force and effect as if made on the Interest Payment Date, Redemption Date,
		or at the Stated Maturity, provided that no interest shall accrue for the
		period from and after such Interest Payment Date, Redemption Date, or Stated
		Maturity, as the case may be.
	 

	 
		This Global Security will be subject to
		redemption at the option of the Company on any date in whole or from time to
		time in part in increments of $1,000 or integral multiples thereof, at the
		Redemption Prices specified in an annex attached to this Global Security, plus
		accrued interest on the principal amount thereof to the Redemption Date, but
		payments due with respect to this Global Security prior to the Redemption Date
		will be paid to the Person in whose name this Global Security is registered at
		the close of business on the relevant Record Date specified on the face hereof,
		all as provided in the Indenture. The Company may exercise such option by
		causing the Trustee to mail a notice of such redemption, not less than 30 nor
		more than 60 days prior to the Redemption Date, in accordance with the
		provisions of the Indenture. In the event of redemption of this Global Security
		in part only, this Global Security will be cancelled and a new Global Security
		representing the unredeemed portion hereof will be issued in the name of the
		Holder hereof. This Global Security is not subject to a sinking fund.
	 

	 
		 
	 

	 
		 
	 

	 
		1
	 

	 
		 
	 

	 
	 

	 

	 
		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 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 a majority in principal amount of
		the Outstanding Securities of each series that would be affected thereby. The
		Indenture also contains provisions permitting the Holders of not less than a
		majority in principal amount of the Outstanding Securities of a series, on
		behalf of the Holders of all Securities of such series, to waive compliance by
		the Company with certain covenants in the Indenture. The Indenture also
		provides that the Holders of not less than a majority in principal amount of
		the Outstanding Securities of any affected series may on behalf of the Holders
		of all Securities of such series waive certain existing Events of Default and
		their consequences. Any such consent or waiver of the Holder of any Security
		shall bind every future Holder of the same Security and the Holder of every
		Security issued upon the registration of transfer thereof or in exchange
		therefor or in lieu thereof in respect of anything done, omitted or suffered to
		be done by the Trustee or the Company in reliance thereon, whether or not
		notation of such action is made upon such Security.
	 

	 
		As set forth in, and subject to, the
		provisions and limitations set forth in the Indenture, the Holders of at least
		a majority in principal amount of the Outstanding Securities of each series
		shall have any right to direct the time, method and place of conducting any
		proceeding for any remedy available to the Trustee, or exercising any trust or
		power conferred on the Trustee, with respect to the Securities of such
		series.
	 

	 
		THIS GLOBAL SECURITY IS A GLOBAL SECURITY
		REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE THEREOF AND, UNLESS AND
		UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR THE INDIVIDUAL SECURITIES
		REPRESENTED HEREBY, THIS GLOBAL SECURITY 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 SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH
		SUCCESSOR DEPOSITARY.
	 

	 
		If at any time the Depositary for this
		Global Security notifies the Company that it is unwilling or unable to continue
		as Depositary for this Global Security or if at any time the Depositary for
		this Global Security shall no longer be registered or in good standing under
		the Securities Exchange Act of 1934, as amended, or other applicable statute or
		regulation, the Company shall appoint a successor Depositary with respect to
		this Global Security. If a successor Depositary for this Global Security is not
		appointed by the Company within 90 days after the Company receives such notice
		or becomes aware of such condition, the Company shall execute, and the Trustee,
		upon receipt of a Company Order for the authentication and delivery of
		definitive Securities of this series, shall authenticate and deliver Securities
		of this series in definitive form in an aggregate principal amount equal to the
		principal amount of this Global Security in exchange for this Global
		Security.
	 

	 
		The Company may at any time and in its sole
		discretion determine that the Securities of this series shall no longer be
		represented by a Global Security. In such event the Company shall execute, and
		the Trustee, upon receipt of a Company Order for the authentication and
		delivery of definitive Securities of this series, shall authenticate and
		deliver, Securities of this series in definitive registered form without
		coupons, in any authorized denominations, in an aggregate principal amount
		equal to the principal amount of this Global Security, in exchange for this
		Global Security.
	 

	 
		The Company may from time to time, without
		the consent of Holders of the Securities, create and issue further notes having
		the same terms and conditions as the Securities in all respects, except for the
		
	 

	 
		 
	 

	 
		 
	 

	 
		2
	 

	 
		 
	 

	 
	 

	 

	 
		Original Issue Date and Issue Price.
		Additional Securities issued in this manner will be consolidated with, and form
		a single series with, the Securities and shall thereafter be deemed Securities
		for all purposes.
	 

	 
		No reference herein to the Indenture and no
		provision of this Global 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 any premium and interest on this Global Security at the times,
		places and rates, and in the coin or currency, herein prescribed.
	 

	 
		The Indenture contains provisions for the
		satisfaction and discharge of the Indenture upon compliance by the Company with
		certain conditions specified therein, which provisions apply to this Global
		Security.
	 

	 
		The Indenture contains provisions for the
		defeasance and discharge of the Indenture upon compliance by the Company with
		certain conditions specified therein, which provisions apply to this Global
		Security.
	 

	 
		The Indenture contains provisions for the
		defeasance of certain covenants of the Company upon compliance by the Company
		with certain conditions specified therein, which provisions apply to this
		Global Security.
	 

	 
		The Company, the Trustee and any agent of
		the Company or the Trustee may treat the Person in whose name this Global
		Security is registered as the owner of this Global Security for the purpose of
		receiving payment of principal of (and premium, if any) and, subject to Section
		3.07 of the Indenture, interest on this Global Security and for all other
		purposes whatsoever, whether or not this Global Security be overdue, and
		neither the Company, the Trustee nor any agent of the Company or the Trustee
		shall be affected by notice to the contrary.
	 

	 
		The Indenture and the Securities are
		governed by and construed in accordance with the laws of the State of New York
		and for all purposes shall be governed by and construed in accordance with the
		laws of said state without regard to the conflicts of laws rules of said
		state.
	 

	 
		All terms used in this Global Security which
		are defined in the Indenture but are not defined in this Global Security shall
		have the meanings assigned to them in the Indenture.
	 

	 
		 
	 

	 
		 
	 

	 
		3
	 

	 
		 
	 

	 
	 

	 

	 
		ANNEX 1
	 

	 
		OPTIONAL REDEMPTION PROVISIONS
	 

	 
		The Securities will be redeemable as a whole
		at any time or in part, from time to time, at the option of the Company, at a
		Redemption Price equal to the sum of (a) the greater of (i) 100% of the
		principal amount of the Securities being redeemed and (ii) the sum of the
		present values of the remaining scheduled payments of principal and interest
		thereon from the Redemption Date to the maturity date, computed by discounting
		such payments, in each case, to the Redemption Date on a semi-annual basis
		(assuming a 360-day year consisting of twelve 30-day months) at the Treasury
		Rate plus 20 basis points, plus (b) accrued interest on the principal amount
		thereof to 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 Securities
		to be redeemed 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.
	 

	 
		“Comparable Treasury Price” means,
		with respect to any Redemption Date, (i) 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 in New York City
		preceding such 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 (ii) if such release (or any successor release) is not
		published or does not contain such prices on such business day, the Reference
		Treasury Dealer Quotation for such redemption date.
	 

	 
		“Independent Investment Banker”
		means an investment banking institution of international standing appointed by
		the Company.
	 

	 
		“Reference Treasury Dealer” means
		a primary U.S. government securities dealer in New York City appointed by the
		Company.
	 

	 
		“Reference Treasury Dealer
		Quotation” means, with respect to the Reference Treasury Dealer and any
		redemption date, the average, as determined by the Company, of the bid and
		asked prices for the Comparable Treasury Issue (expressed in each case as a
		percentage of its principal amount and quoted in writing to the Company by such
		Reference Treasury Dealer at 5:00 p.m. on the third business day in New York
		City preceding such redemption date).
	 

	 
		“Treasury Rate” means the rate per
		annum equal to the semi-annual equivalent or interpolated (on a day-count
		basis) 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 that redemption date.
	 

	 
		Notice of any redemption will be mailed at
		least 30 days but not more than 60 days before the Redemption Date to each
		holder of the Securities to be redeemed. If, at the time notice of redemption
		is given, the redemption moneys are not held by the Trustee, the redemption may
		be made subject to their receipt on or before the Redemption Date and such
		notice shall be of no effect unless such moneys are so 
	 

	 
		 
	 

	 
		 
	 

	 
		4
	 

	 
		 
	 

	 
	 

	 

	 
		received. Upon payment of the Redemption
		Price, on and after the Redemption Date interest will cease to accrue on
		Securities or portions thereof called for redemption.
	 

	 
		 
	 

	 
		 
	 

	 
		5
	 

	 
		 
	 

	 
	 

	 

	 
		ABBREVIATIONS 
	 

	 
		The following abbreviations, when used in
		the inscription of the face of this instrument, shall be construed as though
		they were written out in full according to applicable laws or
		regulations:
	 

	 
		 
	 

	 
			
				
				  TEN COM –
				

			 	
				
				  as tenants in common
				

			 
	
				
				  TEN ENT –
				

			 	
				
				  as tenants by the entireties
				

			 
	
				
				  JT TEN –
				

			 	
				
				  as joint tenants with right of
				  survivorship and not as tenants in common
				

			 
	
				
				  UNIT GIFT MIN ACT –
				

			 	
				
				  __________________ (Cust) Custodian
				  
 __________________ (Minor) under
				  Uniform Gifts to Minors Act
				

				
				  __________________________________

				                               (State)
				

			 

 

	 
		Additional abbreviations may also be used
		though not in the above list.
	 

	 
		FOR VALUE RECEIVED the undersigned hereby
		sell(s), assign(s) and transfer(s) unto
	 

	 
		PLEASE INSERT SOCIAL SECURITY OR OTHER
		IDENTIFYING NUMBER OF ASSIGNEE:
	 

	 
		_____________________________________
	 

	 
		_____________________________________
	 

	 
		 
	 

	 
			
				
				

			 

 

	 
		Please print or typewrite name and
		address
	 

	 
		including postal zip code of assignee
	 

	 
		 
	 

	 
			
				
				   
				

			 

 

	 
		the within Security and all rights
		thereunder, hereby irrevocably constituting and appointing
		_____________________ attorney to transfer said Security on the books of the
		Company, with full power of substitution in the premises.
	 

	 
		Dated:___________________
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  NOTICE: The signature to this
				  assignment must correspond with the name as written upon the face of the within
				  instrument in every particular, without alteration or enlargement or any change
				  whatever. The signature must be guaranteed by a commercial bank, a trust
				  company or a member of the New York Stock Exchange.
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		6

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