by half moon clips, are you talking about the woodruff key that fits in the groove of the pulley? sounds like the grove in either the pulley or on the shaft, or both are worn. in that case, buy a new pulley with a provision for a set screw over the key slot. when installing the new pulley, first us a ball peen hammer to close the gap of the slot on the shaft so that the key is a tight fit. use the set screw to secure the key and pulley. this whould resolve the problem without the copst of a new arbor shaft.