A surgical tool system (20) with replaceable surgical cutting accessories (26) and attachments (34) for holding the tools. This system includes a handpiece (22) to which the cutting accessory and attachment are releasably attached. Collet (50) located inside a drill housing (44) located at one end of the handpiece securely fastens the surgical tool to a motor (24) also located in the handpiece. Leaf spring assembly (46) flush with the drill housing releasably secures the attachment in place. A single actuating collar (52) located around the outside of the drill housing both controls the locking force supplied by the collet and selectively relaxes the leaf spring assembly.