Here is a toolbag item checklist PDF Rider's Service Tools from the MoCo for different Ironhead motorcycles. 
Here is an idea to shorten some cheap wrenches if needed to keep them in a tool bag. 
The middle was cut out of standard size wrenches and then the two ends welded back together. 
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An HD bag: 
The bracket with two nuts already welded to the down tubes was used to fasten the bag. 3) 
| HD downtube bag. 4) | |
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9000 series Otter Box: 
It's waterproof and small enough to mount on the downtubes. 
| 9000 series Otter Box fastened to the downtubes. 6) | ||
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The bag sets higher than the exhaust. You'd have to be leaning heavily before that bag will touch the ground. 
| Making a bracket mount for a leather tool bag. Bracket was made from 1/8“ thick aluminum and some misc chrome hardware. An angle was cut on the front end. 9) | ||
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| Bracket shaped with a hand file, and holes drilled for mounting to the swingarm. 10) | Holes also drilled to mount the bracket to the bag. 11) | Edges rounded with a file, bracket wet sanded with 320/400/1500 grit paper respectively and then hand polished. 12) | 
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| Final fitting to mark a hole on the rear side at the swingarm. 13) | The hole was then drilled and tapped. 14) | The bag mounting holes in the bracket were partially counter bored to allow clearance between the hardware and swingarm. 15) | 
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| Assembling bracket to bag. 16) | Inside the bag, large flat washers, lock washers and nylocks. 17) | Bag mounted with chrome buttonheads, spacers and Loc-tite. 18) | 
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| If after the bag gets broken in and it sort of flops over, you can add some metal flat stock inside the bag to keep it rigid. 19) | 
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This is a replica of 1940-1959 factory tool box sold by sold by Drag Specialties. 20) 
It has a chrome finish, keys included and it replaces OEM 64205-40A. 
However, Bob F of the XLFORUM fitted it to a 2007 XL50 swingarm.