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If neither your sponsors nor your School system have the equipment available, you'll have to do what we did, and find a shop in the yellow pages or ask at a local metal store.
We got lucky, and the guy with the shop has become a good friend, and a great help. And in the meantime, we have acquired some simple machine facilities of our own.
After all that, have you thought of using a Woodruff Key Seat Cutter. It's like a thick circular saw blade with a perpendicular shaft through its centre, and it cuts a round bottomed hole the width of the key into the side of your shaft. If you're extremely careful, you could use a really good drill press and cut a key hole in your shaft.
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