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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549






FORM 10-Q


(Mark one)



|  |                                                                                      
|- | -------------------------------------------------------------------------------------
|x | QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
    EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2003.

OR



|  |                                                                                             
|- | --------------------------------------------------------------------------------------------
|o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934

For the transition period from

to
 .

Commission file no. 0-16190

DEL TACO RESTAURANT PROPERTIES II

a California limited partnership


(Exact name of registrant as specified in its
charter)


|                                                                   |  |                                            
|------------------------------------------------------------------ |  | -------------------------------------------
|                                                                  
|                                                                  
|                                                                  
|                                                                  
|California                                                         |  | 33-0064245                                 
|(State or other jurisdiction of
    incorporation or organization) |  | (I.R.S. Employer
    Identification Number)
|                                                                  
|25521 Commercentre Drive, Lake Forest,
    California              |  | 92630                                      
|(Address of principal executive
    offices)                       |  | (Zip Code)                                 

(949) 462-9300

(Registrants telephone number, including
area code)


Indicate by check mark whether the registrant (1) has
filed all reports required to be filed by Section 13 or
15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past
90 days.  Yes x  No o



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TABLE OF CONTENTS



|                           |                                                                                               |                                         |  |  |  |  |  | 
|-------------------------- | --------------------------------------------------------------------------------------------- | --------------------------------------- |  |  |  |  |  | 
|                           |                                                                                               | CONDENSED BALANCE SHEETS               
|                           |                                                                                               | CONDENSED STATEMENTS OF INCOME         
|                           |                                                                                               | NOTES TO CONDENSED FINANCIAL STATEMENTS
|                           | Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
|                           | Item 4. Controls and Procedures                                                              
|PART II. OTHER INFORMATION
|                           | PART II. OTHER INFORMATION                                                                   
|                           | Item 6. Exhibits and Reports on Form 8-K                                                     
|SIGNATURE                 
|EXHIBIT 31.1              
|EXHIBIT 31.2              
|EXHIBIT 32.1              



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INDEX

DEL TACO RESTAURANT PROPERTIES II

|                                                                                                     |  |             |    | 
|---------------------------------------------------------------------------------------------------- |  | ----------- | -- | 
|PART I. FINANCIAL INFORMATION                                                                        |  | PAGE NUMBER
|                                                                                                     |  |            
|Item 1. Financial Statements and Supplementary Data                                                  |  |             |    | 
|Condensed Balance Sheets at June 30, 2003 and
December 31, 2002 (Unaudited)                          |  |             | 3  | 
|Condensed Statements of Income for the three and six months ended
June 30, 2003 and 2002 (Unaudited) |  |             | 4  | 
|Condensed Statements of Cash Flows for the six months ended
June 30, 2003 and 2002 (Unaudited)       |  |             | 5  | 
|Notes to Condensed Financial Statements                                                              |  |             | 6  | 
|Item 2. Managements Discussion and Analysis of
Financial Condition and Results of Operations        |  |             | 8  | 
|Item 4. Controls and Procedures                                                                      |  |             | 11 | 
|PART II. OTHER INFORMATION                                                                           |  |             |    | 
|Item 6. Exhibits and Reports on Form 8-K                                                             |  |             | 12 | 
|SIGNATURE                                                                                            |  |             | 13 | 

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DEL TACO RESTAURANT PROPERTIES II

CONDENSED BALANCE SHEETS

(Unaudited)

|                                 |                                |                           |           |           |          |   |              |           |         |  | 
|-------------------------------- | ------------------------------ | ------------------------- | --------- | --------- | -------- | - | ------------ | --------- | ------- |  | 
|                                 |                                |                           |           |           | June 30, |   | December 31,
|                                 |                                |                           |           |           | 2003     |   | 2002        
|                                 |                                |                           |           |           |          |   |             
|ASSETS                          
|CURRENT ASSETS:                  |                                |                           |           |           |          |   |              |          
|                                 | Cash                           |                           | $         | 166,234   |          |   | $            | 166,116   |        
|                                 | Receivable from Del Taco, Inc. |                           |           | 51,517    |          |   |              | 48,698    |        
|                                 | Deposits                       |                           |           | 1,533     |          |   |              | 1,238     |        
|                                 |                                |                           |           |           |          |   |              |          
|                                 |                                | Total current assets      |           |           | 219,284  |   |              |           | 216,052 | 
|                                 |                                |                           |           |           |          |   |              |          
|PROPERTY AND EQUIPMENT:          |                                |                           |           |           |          |   |              |          
|                                 | Land and improvements          |                           |           | 1,806,006 |          |   |              | 1,806,006 |        
|                                 | Buildings and improvements     |                           |           | 1,238,879 |          |   |              | 1,238,879 |        
|                                 | Machinery and equipment        |                           |           | 898,950   |          |   |              | 898,950   |        
|                                 |                                |                           |           |           |          |   |              |          
|                                 |                                |                           | 3,943,835 |           |          |   | 3,943,835    |          
|                                 | Lessaccumulated depreciation  |                           |           | 1,788,261 |          |   |              | 1,761,171 |        
|                                 |                                |                           |           |           |          |   |              |          
|                                 |                                |                           | 2,155,574 |           |          |   | 2,182,664    |          
|                                 |                                |                           |           |           |          |   |              |          
|                                 |                                | $                         | 2,374,858 |           |          | $ | 2,398,716    |          
|                                 |                                |                           |           |           |          |   |              |          
|LIABILITIES AND PARTNERS EQUITY
|CURRENT LIABILITIES:             |                                |                           |           |           |          |   |              |          
|                                 | Payable to limited partners    |                           | $         | 28,305    |          |   | $            | 25,977    |        
|                                 | Accounts payable               |                           |           | 6,729     |          |   |              | 4,551     |        
|                                 |                                |                           |           |           |          |   |              |          
|                                 |                                | Total current liabilities |           |           | 35,034   |   |              |           | 30,528  | 
|                                 |                                |                           |           |           |          |   |              |          
|PARTNERS EQUITY:                |                                |                           |           |           |          |   |              |          
|                                 | Limited partners               |                           |           | 2,365,475 |          |   |              | 2,393,556 |        
|                                 | General partner-Del Taco, Inc. |                           |           | (25,651   | )        |   |              | (25,368   | )      
|                                 |                                |                           |           |           |          |   |              |          
|                                 |                                |                           | 2,339,824 |           |          |   | 2,368,188    |          
|                                 |                                |                           |           |           |          |   |              |          
|                                 |                                | $                         | 2,374,858 |           |          | $ | 2,398,716    |          
|                                 |                                |                           |           |           |          |   |              |          

See accompanying notes to condensed financial statements.

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DEL TACO RESTAURANT PROPERTIES II

CONDENSED STATEMENTS OF INCOME

(Unaudited)

|                |                                                    |                  |         |                    |         |                  |         |        |         |      |         |        |         |   |         |        |         | 
|--------------- | -------------------------------------------------- | ---------------- | ------- | ------------------ | ------- | ---------------- | ------- | ------ | ------- | ---- | ------- | ------ | ------- | - | ------- | ------ | ------- | 
|                |                                                    |                  |         | Three Months Ended |         | Six Months Ended
|                |                                                    |                  |         | June 30,           |         | June 30,        
|                |                                                    |                  |         | 2003               |         | 2002             |         | 2003   |         | 2002
|                |                                                    |                  |         |                    |         |                  |         |        |         |     
|RENTAL REVENUES |                                                    | $                | 152,056 |                    |         | $                | 154,605 |        |         | $    | 291,019 |        |         | $ | 297,852 |       
|                |                                                    |                  |         |                    |         |                  |         |        |         |      |         |        |         |   |         |       
|EXPENSES:       |                                                    |                  |         |                    |         |                  |         |        |         |      |         |        |         |   |         |       
|                | General and administrative                         |                  |         | 15,589             |         |                  |         | 15,574 |         |      |         | 49,642 |         |   |         | 40,625 |        
|                | Depreciation                                       |                  |         | 13,545             |         |                  |         | 13,545 |         |      |         | 27,090 |         |   |         | 27,090 |        
|                |                                                    |                  |         |                    |         |                  |         |        |         |      |         |        |         |   |         |       
|                |                                                    |                  | 29,134  |                    |         |                  | 29,119  |        |         |      | 76,732  |        |         |   | 67,715  |       
|                |                                                    |                  |         |                    |         |                  |         |        |         |      |         |        |         |   |         |       
|                |                                                    | Operating income |         |                    | 122,922 |                  |         |        | 125,486 |      |         |        | 214,287 |   |         |        | 230,137 | 
|OTHER INCOME:   |                                                    |                  |         |                    |         |                  |         |        |         |      |         |        |         |   |         |       
|                | Interest                                           |                  |         | 352                |         |                  |         | 439    |         |      |         | 821    |         |   |         | 1,018  |        
|                | Other                                              |                  |         | 500                |         |                  |         | 75     |         |      |         | 950    |         |   |         | 675    |        
|                |                                                    |                  |         |                    |         |                  |         |        |         |      |         |        |         |   |         |       
|                |                                                    | Net income       |         | $                  | 123,774 |                  |         | $      | 126,000 |      |         | $      | 216,058 |   |         | $      | 231,830 | 
|                |                                                    |                  |         |                    |         |                  |         |        |         |      |         |        |         |   |         |       
|                | Net income per limited
partnership unit            |                  | $       | 4.54               |         |                  | $       | 4.62   |         |      | $       | 7.92   |         |   | $       | 8.50   |        
|                |                                                    |                  |         |                    |         |                  |         |        |         |      |         |        |         |   |         |       
|                | Number of units used in computing
per unit amounts |                  |         | 27,006             |         |                  |         | 27,006 |         |      |         | 27,006 |         |   |         | 27,006 |        
|                |                                                    |                  |         |                    |         |                  |         |        |         |      |         |        |         |   |         |       

See accompanying notes to condensed financial statements.

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DEL TACO RESTAURANT PROPERTIES II

CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited)

|                                                                                  |                                                                         |                                           |          |                  |         |      |          |        |         | 
|--------------------------------------------------------------------------------- | ----------------------------------------------------------------------- | ----------------------------------------- | -------- | ---------------- | ------- | ---- | -------- | ------ | ------- | 
|                                                                                  |                                                                         |                                           |          | Six Months Ended
|                                                                                  |                                                                         |                                           |          | June 30,        
|                                                                                  |                                                                         |                                           |          |                 
|                                                                                  |                                                                         |                                           |          | 2003             |         | 2002
|                                                                                  |                                                                         |                                           |          |                  |         |     
|CASH FLOWS FROM OPERATING ACTIVITIES:                                             |                                                                         |                                           |          |                  |         |      |          |       
|Net income                                                                        |                                                                         | $                                         | 216,058  |                  |         | $    | 231,830  |       
|Adjustments to reconcile net income to net
cash provided by operating activities: |                                                                         |                                           |          |                  |         |      |          |       
|                                                                                  | Depreciation                                                            |                                           |          | 27,090           |         |      |          | 27,090 |        
|                                                                                  | Increase in receivable from Del Taco, Inc.                              |                                           |          | (2,819           | )       |      |          | (1,992 | )      
|                                                                                  | Increase in deposits                                                    |                                           |          | (295             | )       |      |          |       |        
|                                                                                  | Increase (decrease) in accounts payable and payable
to limited partners |                                           |          | 4,506            |         |      |          | (3,056 | )      
|                                                                                  |                                                                         |                                           |          |                  |         |      |          |       
|                                                                                  |                                                                         | Net cash provided by operating activities |          |                  | 244,540 |      |          |        | 253,872 | 
|CASH FLOWS FROM FINANCING ACTIVITIES:                                             |                                                                         |                                           |          |                  |         |      |          |       
|Cash distributions to partners                                                    |                                                                         |                                           | (244,422 | )                |         |      | (260,193 | )     
|                                                                                  |                                                                         |                                           |          |                  |         |      |          |       
|Net increase (decrease) in cash                                                   |                                                                         |                                           | 118      |                  |         |      | (6,321   | )     
|Beginning cash balance                                                            |                                                                         |                                           | 166,116  |                  |         |      | 165,411  |       
|                                                                                  |                                                                         |                                           |          |                  |         |      |          |       
|Ending cash balance                                                               |                                                                         | $                                         | 166,234  |                  |         | $    | 159,090  |       
|                                                                                  |                                                                         |                                           |          |                  |         |      |          |       

See accompanying notes to condensed financial statements.

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DEL TACO RESTAURANT PROPERTIES II

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2003

NOTE 1  BASIS OF PRESENTATION

The accompanying unaudited condensed financial statements have been prepared in
accordance with accounting principles generally accepted in the United States
of America for interim financial information and with the instructions to Form
10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of
the information and footnotes required by accounting principles generally
accepted in the United States of America for complete financial statements and
should therefore be read in conjunction with the financial statements and notes
thereto contained in the annual report on Form 10-K for the year ended December
31, 2002 for Del Taco Restaurant Properties II (the Partnership or the
Company). In the opinion of management, all adjustments (consisting of normal
recurring accruals) necessary to present fairly the Partnerships financial
position at June 30, 2003, the results of operations for the three and six
month periods ended June 30, 2003 and 2002 and cash flows for the six month
periods ended June 30, 2003 and 2002 have been included. Operating results for
the three and six months ended June 30, 2003 are not necessarily indicative of
the results that may be expected for the year ending December 31, 2003.

NOTE 2  NET INCOME PER LIMITED PARTNERSHIP UNIT

Net income per limited partnership unit is based upon the weighted average
number of units outstanding during the periods presented which amounted to
27,006 in 2003 and 2002.

Pursuant to the partnership agreement, annual partnership income or loss is
allocated one percent to Del Taco, Inc. (Del Taco or the General Partner) and
99 percent to the limited partners. Partnership gains from any sale or
refinancing will be allocated one percent to the General Partner and 99 percent
to the limited partners until allocated gains and profits equal losses,
distributions and syndication costs previously allocated. Additional gains
will be allocated 15 percent to the General Partner and 85 percent to the
limited partners.

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DEL TACO RESTAURANT PROPERTIES II

NOTES TO CONDENSED FINANCIAL STATEMENTS  CONTINUED

JUNE 30, 2003

NOTE 3  LEASING ACTIVITIES

The Partnership leases certain properties for operation of restaurants to Del
Taco on a triple net basis. The leases are for terms of 35 years commencing
with the completion of the restaurant facility located on each property and
require monthly rentals equal to 12 percent of the gross sales of the
restaurants. The leases terminate in the years 2021 to 2022. There is no
minimum rental under any of the leases.

For the three months ended June 30, 2003, the five restaurants operated by Del
Taco, for which the Partnership is the lessor, had combined, unaudited sales of
$1,267,135 and unaudited net income of $109,325 as compared to $1,288,374 and
$97,003, respectively, for the corresponding period in 2002. Net income by
restaurant includes charges for general and administrative expenses incurred in
connection with supervision of restaurant operations and interest expense.

For the six months ended June 30, 2003, the five restaurants operated by Del
Taco, for which the Partnership is the lessor, had combined, unaudited sales of
$2,425,161 and unaudited net income of $200,268 as compared to $2,482,101 and
$190,476, respectively, for the corresponding period in 2002.

NOTE 4  TRANSACTIONS WITH DEL TACO

The receivable from Del Taco, Inc. consists primarily of rent accrued for the
month of June. The June rent was collected in July 2003.

Del Taco serves in the capacity of general partner in other partnerships which
are engaged in the business of operating restaurants and three other
partnerships which were formed for the purpose of acquiring real property in
California for construction of Mexican-American restaurants for lease under
long-term agreements to Del Taco for operation under the Del Taco trade name.

In addition, see Note 5 with respect to certain distributions to the General
Partner.

NOTE 5  DISTRIBUTIONS

On July 18, 2003, a distribution to the limited partners of $131,599 or
approximately $4.87 per limited partnership unit was approved. Such
distribution was paid on July 25, 2003. The General Partner also received a
distribution of $1,329 with respect to its 1% partnership interest. Total cash
distributions paid in January and April 2003 were $135,139 and $ 109,283,
respectively.

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Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations

Liquidity and Capital Resources

Del Taco Restaurant Properties II (the Partnership or the Company) offered
limited partnership units for sale between September 1984 and December 1985.
15% of the $6.751 million raised through sale of limited partnership units was
used to pay commissions to brokers and to reimburse Del Taco, Inc. (the General
Partner or Del Taco) for offering costs incurred. Approximately $5.6 million
of the remaining funds were used to acquire sites and build seven restaurants.
Two restaurants were sold in 1994.

The five restaurants leased to Del Taco make up almost all of the income
producing assets of the Partnership. Therefore, the business of the
Partnership is almost entirely dependent on the success of the Del Taco trade
name restaurants that lease the properties. The success of the restaurants is
dependent on a large variety of factors, including, but not limited to,
competition, consumer demand and preference for fast food, in general, and for
Mexican-American food in particular.

Results of Operations

The Partnership owned seven properties that were under long-term lease to Del
Taco for restaurant operations. Two restaurants were sold in 1994 and five are
currently operating.

The following table sets forth rental revenue earned by restaurant for the
three and six months ended June 30, 2003 and 2002:

|                                           |       |   |                    |         |                  |   |        |         |      |   |        |         |  |   |        |         | 
|------------------------------------------ | ----- | - | ------------------ | ------- | ---------------- | - | ------ | ------- | ---- | - | ------ | ------- |  | - | ------ | ------- | 
|                                           |       |   | Three Months Ended |         | Six Months Ended
|                                           |       |   | June 30,           |         | June 30,        
|                                           |       |   |                    |         |                 
|                                           |       |   | 2003               |         | 2002             |   | 2003   |         | 2002
|                                           |       |   |                    |         |                  |   |        |         |     
|Bear Valley Rd., Victorville, CA           |       | $ | 28,982             |         |                  | $ | 26,991 |         |      | $ | 55,362 |         |  | $ | 51,876 |        
|West Valley Blvd., Colton, CA              |       |   | 36,267             |         |                  |   | 36,240 |         |      |   | 69,579 |         |  |   | 69,986 |        
|Palmdale Blvd., Palmdale, CA               |       |   | 18,791             |         |                  |   | 21,039 |         |      |   | 35,997 |         |  |   | 41,563 |        
|DeAnza Country Shopping Center, Pedley, CA |       |   | 28,298             |         |                  |   | 27,632 |         |      |   | 54,622 |         |  |   | 51,969 |        
|Varner Road, Thousand Palms, CA            |       |   | 39,718             |         |                  |   | 42,703 |         |      |   | 75,459 |         |  |   | 82,458 |        
|                                           |       |   |                    |         |                  |   |        |         |      |   |        |         |  |   |        |        
|                                           | Total |   | $                  | 152,056 |                  |   | $      | 154,605 |      |   | $      | 291,019 |  |   | $      | 297,852 | 
|                                           |       |   |                    |         |                  |   |        |         |      |   |        |         |  |   |        |        

The Partnership receives rental revenues equal to 12 percent of gross sales
from the restaurants. The Partnership earned rental revenue of $152,056 during
the three month period ended June 30, 2003, which represents a decrease of
$2,549 from 2002. The Partnership earned rental revenue of $291,019 during the
six month period ended June 30, 2003, which represents a decrease of $6,833
from 2002. The changes in rental revenue between 2002 and 2003 are directly attributable to changes in sales
levels at the restaurants under lease.

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Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations  continued

The following table breaks down general and administrative expenses by type of
expense:

|                                                |  |                                  |        |                  |  |                     |        |      |  |  |        |   |  |  |        |  
|----------------------------------------------- |  | -------------------------------- | ------ | ---------------- |  | ------------------- | ------ | ---- |  |  | ------ | - |  |  | ------ | -
|                                                |  |                                  |        |                  |  | Percentage of Total |        |      |  | 
|                                                |  | General & Administrative Expense
|                                                |  |                                 
|                                                |  | Three Months Ended               |        | Six Months Ended
|                                                |  | June 30,                         |        | June 30,        
|                                                |  |                                  |        |                 
|                                                |  | 2003                             |        | 2002             |  | 2003                |        | 2002
|                                                |  |                                  |        |                  |  |                     |        |     
|Accounting fees                                 |  |                                  | 46.26  | %                |  |                     | 61.58  | %    |  |  | 70.39  | % |  |  | 66.07  | %
|Distribution of information
to Limited Partners |  |                                  | 53.74  | %                |  |                     | 38.42  | %    |  |  | 29.61  | % |  |  | 33.93  | %
|                                                |  |                                  |        |                  |  |                     |        |      |  |  |        |   |  |  |        |  
|                                                |  |                                  | 100.00 | %                |  |                     | 100.00 | %    |  |  | 100.00 | % |  |  | 100.00 | %
|                                                |  |                                  |        |                  |  |                     |        |      |  |  |        |   |  |  |        |  

General and administrative costs for the three and six month periods ended June
30, increased from 2002 to 2003 due to costs incurred in changing auditors and
increased costs for printing and mailing, and audit and tax preparation fees.

For the three month period ended June 30, 2003, net income decreased by $2,226
from 2002 to 2003 due to the decrease in revenues of $2,549 and the $15
increase in general and administrative expenses partially offset by the $338
increase in interest and other income. For the six month period ended June 30,
2003, net income decreased by $15,772 from 2002 to 2003 due to a decrease in
revenues of $6,833 and the $9,017 increase in general and administrative
expenses partially offset by the $78 increase in interest and other income.

Recent Accounting Pronouncements

In November 2002, the Financial Accounting Standards Board (FASB) issued
Interpretation No. 45, Guarantors Accounting and Disclosure Requirements for
Guarantees, Including Indirect Guarantees of Indebtedness of Others
(Interpretation 45), an interpretation of FASB Statements No. 5, 57 and 107
and rescission of FASB Interpretation No. 34. Interpretation 45 elaborates on
the disclosures to be made by a guarantor in its interim and annual financial
statements about its obligations under certain guarantees that it has issued.
It also clarifies that a guarantor is required to recognize, at the inception
of a guarantee, a liability for the fair value of the obligation undertaken in
issuing the guarantee. Interpretation 45s initial recognition and initial
measurement provisions are effective on a prospective basis to guarantees
issued or modified after December 31, 2002. The disclosure requirements are
effective for financial statements of interim or annual periods ending after
December 15, 2002. The Company adopted the disclosure requirements of
Interpretation 45 effective December 31, 2002 and has not entered into any
guarantees since December 31, 2002.

In January 2003, the FASB issued Interpretation No. 46, Consolidation of
Variable Interest Entities (Interpretation 46), an interpretation of ARB No.
51. Interpretation 46 addresses consolidation by business enterprises of
variable interest entities. Interpretation 46 applies immediately to variable
interest entities created after January 31, 2003, and to variable interest
entities in which an enterprise obtains an interest after that date. It
applies in the first year or interim period beginning after June 15, 2003, to
variable interest entities in which an enterprise holds a variable interest that it acquired before February 1, 2003.
The Company believes it has no variable interest entities to which
Interpretation 46 would apply.

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Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations  continued

Critical Accounting Policies and Estimates

Managements discussion and analysis of financial condition and results of
operations, as well as disclosures included elsewhere in this report on Form
10-Q are based upon the Partnerships financial statements, which have been
prepared in accordance with accounting principles generally accepted in the
United States of America. The preparation of these financial statements
requires management to make estimates and judgments that affect the reported
amounts of assets, liabilities, revenues and expenses. The Partnership
believes the critical accounting policies that most impact the financial
statements are described below. A summary of the significant accounting
policies of the Partnership can be found in Note 1 to the Financial Statements
which is included in the Partnerships December 31, 2002 Form 10-K.

Property and Equipment: Property and equipment is stated at cost.
Depreciation is computed using the straight-line method over estimated useful
lives which are 20 years for land improvements, 35 years for buildings and
improvements, and 10 years for machinery and equipment.

The Partnership accounts for property and equipment in accordance with
Statement of Financial Accounting Standards No. 144, Accounting for the
Impairment or Disposal of Long Lived Assets. SFAS 144 requires that
long-lived assets be reviewed for impairment whenever events or changes in
circumstances indicate that the carrying value of the asset may not be
recoverable. In evaluating long-lived assets held for use, an impairment loss
is recognized if the sum of the expected future cash flows (undiscounted and
without interest charges) is less than the carrying value of the asset. Once a
determination has been made that an impairment loss should be recognized for
long-lived assets, various assumptions and estimates are used to determine fair
value including, among others, estimated costs of construction and development,
recent sales of comparable properties and the opinions of fair value prepared
by independent real estate appraisers. Long-lived assets to be disposed of are
reported at the lower of carrying amount or fair value less cost to sell.

Item 2a. Quantitative and Qualitative Disclosures About Market Risk.

None.

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Item 4. Controls and Procedures



| | (a) |  | Evaluation of disclosure controls and procedures:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | --- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| |     |  | Within the 90 days prior to the date of this report, the Company
carried out an evaluation, under the supervision and with the
participation of the Companys management, including the Companys
Chief Executive Officer and Chief Financial Officer, of the
effectiveness of the design and operation of the Companys disclosure
controls and procedures. Based upon that evaluation, the Chief
Executive Officer and Chief Financial Officer concluded that the
Companys disclosure controls and procedures are effective in timely
alerting them to material information relating to the Company
(including its consolidated subsidiaries) required to be included in
the Companys periodic Securities and Exchange Commission Filings.
|
| | (b) |  | Changes in internal controls:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|
| |     |  | There were no significant changes in the Companys internal controls or
in other factors that could significantly affect these controls
subsequent to the date of their evaluation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|
| | (c) |  | Asset-Backed issuers:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|
| |     |  | Not applicable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                

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PART II. OTHER INFORMATION




Item 6. Exhibits and Reports on Form 8-K



| | (a) |  | Exhibits
| | --- |  | --------

|     |  |                                                                                            
|---- |  | -------------------------------------------------------------------------------------------
|31.1 |  | Kevin K. Moriartys Certification Pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002
|31.2 |  | Robert J. Terranos Certification Pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002
|32.1 |  | Certification Pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002                    



| | (b) |  | Reports                                                                                                                                    
| | --- |  | -------------------------------------------------------------------------------------------------------------------------------------------
|
| |     |  | During the three months ended June 30, 2003, the following reports
on Form 8-K were filed:                                                 
|
| |     |  | On April 11, 2003, Form 8-K was filed re: the
dismissal of Pricewaterhouse Coopers LLP as the Partnerships
independent public accountants.
|
| |     |  | On May 13, 2003, Form 8-K was filed re: the
selection of KPMG LLP as the Partnerships independent public
accountants.                     

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##### Table of Contents






SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

|      |                 |  |                                                                                
|----- | --------------- |  | -------------------------------------------------------------------------------
|      |                 |  | DEL TACO RESTAURANT PROPERTIES II
(a California limited partnership)
Registrant
|      |                 |  | Del Taco, Inc.
General Partner                                                 
|Date: | August 14, 2003 |  | /s/ Robert J. Terrano                                                          
|      |                 |  |                                                                                
|      |                 |  | Robert J. Terrano
Executive Vice President,
Chief Financial Officer            

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EXHIBIT INDEX

|         |  |                                                                                             | 
|-------- |  | ------------------------------------------------------------------------------------------- | 
|Exhibits |  | Description                                                                                 | 
|         |  |                                                                                             | 
|31.1     |  | Kevin K. Moriartys Certification Pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002 | 
|31.2     |  | Robert J. Terranos Certification Pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002 | 
|32.1     |  | Certification Pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002                     | 

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