In a small sauce pan, bring the water to a boil. Meanwhile, in a 3 qt. saucepan, heat the oil over medium-high heat. Add the onion, garlic, Rotel tomatoes, bouillon, cilantro, tomato sauce, peppers, salt, and pepper. Saute for 3 minutes. Add the water and rice to the tomato mixture; stir well. Remove from heat. Cover and let stand for 5-7 minutes. Fluff with a fork. Serve hot.