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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 v2N6YfDh8luWDFNpcgxwqw==

<SEC-DOCUMENT>0001209191-03-015879.txt : 20030806
<SEC-HEADER>0001209191-03-015879.hdr.sgml : 20030806
<ACCEPTANCE-DATETIME>20030806200029
ACCESSION NUMBER:		0001209191-03-015879
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030804
FILED AS OF DATE:		20030806

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CONNER JOE W
		CENTRAL INDEX KEY:			0001040752
		STANDARD INDUSTRIAL CLASSIFICATION:	LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES) [6552]
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13003
		FILM NUMBER:		03827475

	BUSINESS ADDRESS:	
		STREET 1:		1221 RIVERBEND DR
		STREET 2:		SUITE 120
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75247
		BUSINESS PHONE:		2146311166

	MAIL ADDRESS:	
		STREET 1:		1221 RIVERBEND DR
		STREET 2:		SUITE 120
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75247

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SILVERLEAF RESORTS INC
		CENTRAL INDEX KEY:			0001033032
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
		IRS NUMBER:				752259890
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1221 RIVERBEND DR
		STREET 2:		SUITE 120
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75247
		BUSINESS PHONE:		2146311166

	MAIL ADDRESS:	
		STREET 1:		1221 RIVERBEND DR
		STREET 2:		SUITE 120
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75247
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bod08019_bod1jwc.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4</documentType><periodOfReport>2003-08-04</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0001033032</issuerCik><issuerName>SILVERLEAF RESORTS INC</issuerName>        <issuerTradingSymbol>SVLF</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001040752</rptOwnerCik><rptOwnerName>CONNER JOE W</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1></rptOwnerStreet1><rptOwnerStreet2>1221 RIVER BEND DRIVE</rptOwnerStreet2><rptOwnerCity>DALLAS</rptOwnerCity><rptOwnerState>TX</rptOwnerState><rptOwnerZipCode>75247</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>Chief Operating Officer</officerTitle></reportingOwnerRelationship></reportingOwner><der
ivativeTable><derivativeTransaction><securityTitle><value>Incentive Stock Option</value></securityTitle><conversionOrExercisePrice><value>.315</value></conversionOrExercisePrice><transactionDate><value>2003-08-01</value></transactionDate><deemedExecutionDate><value>2003-08-01</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>J</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F1" /></transactionCoding><transactionAmounts><transactionShares><value>368269</value></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value><footnoteId id="F1" /></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2004-06-13</value></exerciseDate><expirationDate><value>2013-06-13</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock, .01 par value</value></underlyingSecurityTitle><underlyingSecurityShares><value>3
68269</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>368269</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction><derivativeTransaction><securityTitle><value>Incentive Stock Option</value></securityTitle><conversionOrExercisePrice><value>.315</value></conversionOrExercisePrice><transactionDate><value>2003-08-04</value></transactionDate><deemedExecutionDate><value>2003-08-04</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>J</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F1" /></transactionCoding><transactionAmounts><transactionShares><value>368269</value></transactionShares><transactionPricePerShare><value>.315</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcqui
redDisposedCode></transactionAmounts><exerciseDate><value>2004-08-04</value><footnoteId id="F2" /></exerciseDate><expirationDate><value>2013-08-04</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock, .01 par value</value></underlyingSecurityTitle><underlyingSecurityShares><value>368269</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>368269</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">Options conditionally granted on June 13, 2003 terminated on July 30, 2003 because the shareholders of the Company had not approved the 2002 Stock Option Plan under which the options were granted.  Options were granted on August 4, 2003 to replace the options terminated.  The options granted on August 4, 2003 have the same exerc
ise and vesting period as the options granted on June 13, 2003.</footnote><footnote id="F2">Options will vest and be exercisable to the extent of 1/3 of the options granted on each of the following dates:  August 4, 2004, August 4, 2005 and August 4, 2006.</footnote></footnotes><ownerSignature><signatureName>/s/ Joe W. Conner</signatureName><signatureDate>2003-08-06</signatureDate></ownerSignature></ownershipDocument>

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</SEC-DOCUMENT>
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