3c. water
3 chicken bullion cubes
4 med. potatoes, peeled and cubed
1 med. onion, chopped
1c. sliced carrots
1/2c. diced green pepper
1/3c. butter or margarine
1/2c. all purpose flour
3 1/2c. milk
4c. shredded cheddar cheese

Combine water and bullion cubes in soup pot and bring to boil. Add all vegetables, cover, and simmer 12 minutes or until tender. Melt butter or margarine in heavy saucepan; blend in flour and cook for 1 minute. Gradually add milk. Cook over medium heat until thickened, stirring constantly. Add shredded cheese, stirring until melted. Stir cheese mixture into vegetable mixture. Cook on low heat until thoroughly combined.