Combine the chicken, water, onion, bell pepper, celery, garlic, bay leaf and salt in a large saucepan over medium heat and cook for 50 minutes. Strain the mixture, reserving 5 cups of the chicken stock. Chill the chicken to cool, then de-bone and dice. Set aside.
Heat the olive oil in a saucepan. Add the onions, green bell peppers, celery, red bell peppers, carrots, garlic and thyme leaves, and cook over high heat for five minutes. Add the reserved chicken stock and chicken broth, onion powder, garlic powder, and white pepper. Bring to boil. Add the rice and simmer for 20 minutes until the rice is tender, stirring occasionally. Add the diced chicken, green onions, parsley and simmer for additional 5 minutes.
Makes about 2 gallons