John Murphy, founder and managing partner of Montecito Capital Finance, was sworn in as the newest and fifth member of the Montecito Sanitary District Board of Trustees on Wednesday. 

The board agreed that they had two good candidates before them: Murphy and former Montecito Union School District trustee and psychiatrist Robert Nagy.

“Both candidates have excellent backgrounds,” Director Dorinne Lee Johnson said.

After speaking with both, they unanimously voted for Murphy, citing his finance experience as a benefit given the board’s ongoing look at its finances, rates and capital projects.  

In his application, Murphy said his 30 years of experience with mortgage lending, financing and capital markets would translate to helping the Sanitary District set policy, create a budget and approve contracts, among others. 

He told the board on Wednesday that he would like to “be of service in the community” and he would use his background “to facilitate that.” He said his neighbor recommended he apply.

“I have the ability to be creative within the constraints of a banking system,” he said.

Former director Dana Nequist resigned from the board last month, stating he believed in the consolidation of the Montecito and Sanitary districts, but “not all directors share that goal.”

His term was set to end in December. 

Montecito’s districts have had on-and-off discussions about reorganization for years. Without Newquist, the board last month went 2-2 on a vote to hire a consultant to look into reorganization with the Montecito Water District at the helm.