Combines traction belt revisited tbran

well the bottom pulley is spring loaded from the inside, it should self tighten. IF not and you have slack in the belt and it will not close up suggest you cycle and grease inner hub and tap with a hammer the hub to the tighten position to try to prevent a teardown. The gap is adjusted by the semi allthread bolts on the main clutch shaft of course, but if the pulley wtill will not close it must be a mechanical situation like a worn ledge or dirt in the spring canister or 'something' .

used to speed up vs a little then clean out spring can lip with short screw driver you can get at it,then if they dont come together speed up all the way and use a bent no 9 wire to clean out between the outer taper hub and inner sliding hub.there will be a ring of dirt there that wont let them push together

buckeyegleaner is right. Check the spring can for build up of dirt and grease inside the lip of the can. My 77 K2 did the same. I used a bent screwdriver in and around the spring to get at the dirt. But, I did it while doing a clutch job and I had the spring can off the machine. You may want to remove the belt, sheaves, and spring can to do it rightIJ