Place the water, milk and rice in a medium sized stock pot and bring to a boil.
Once it starts to boil, lower the heat and allow to simmer for 20 minutes.
Stir often while taking care not to allow the rice to stick to the bottom of the pot.
Set aside to cool while you prepare the egg mixture.
Place the sugar, ricotta, eggs, honey, vanilla, lemon zest and salt in a medium sized bowl.
Beat well with electric beaters till thoroughly combined.
Preheat oven to 350 degrees F.
Grease a 9 inch pie plate.
Roll out the phyllo dough and keep covered with saran wrap OR a clean and damp kitchen cloth to keep it from drying out.
On a clean work surface brush a sheet of phyllo dough with butter and transfer onto the pie plate while gently pressing down to line the pie plate.
Crunch up the overhang part to make a frill. It doesn't have to be perfect.
Repeat with the remaining phyllo sheets while rotating off line from the previous layer, creating a star-like pattern.
So you'll be brushing the phyllo dough with butter, lining the pie plate and crunching the edges 6 times.
Once the pie plate is ready and lined with the phyllo dough, stir together the rice mixture with the egg mixture. Make sure there are no lumps in the batter.
Pour the rice batter into the prepared pie plate.
Set the pie plate onto a cookie sheet, place in the oven and bake for approximately 50 to 60 minutes.
The top of the pie should look set. If the centre is slightly jiggly it's ok. It will set further as it cools off.
If your phyllo dough is browning too much you can always loosely cover it with aluminum foil.
I didn't need to cover mine but I did however rotate my pie half way through cooking to brown evenly.
Let the pie cool completely before serving.
Dust with powdered sugar just before serving.