Mechanical shift came out as a 1978 model year.
990236M is a 1976 model ELECTRIC SHIFT.
I believe the "M" is for manual trim adjustment vs electric Selectrim option.
Post a picture of the drive.
Regardless if electric shift or later mechanical shift it is a stringer drive.
Find the 10 digit hull number on upper right portion of transom, post picture of that too.
Since the engine model/serial number plate is on the engine someone may have put an earlier engine in a '79 boat & used the mechanical shift stringer, who knows?
As for your question about tilting the drive down: Look for a silver toggle switch on the dash. It will be spring loaded to the center OFF position. Up is up, down is down. Some boat manufacturers will wire it so key must be on, others wire it hot at all times.
The intermediate housing has an oil reservoir. Look for a BIG (as in about the diameter of a nickel) slotted screw nearly centered just below the top center of transom seal. I believe there will be a drain screw on the bottom portion also. (I say believe because I can't remember the exact year they installed drains - earlier years required a suction pump to drain). Regardless, oil can leak into the bilge or outside. Either way, no oil = seized intermediate housing.
For the purpose of lowering the drive, if all else fails use a 9/16 wrench, remove the 3 bolts that hold the gear on, lift drive, reposition the gear & lower the drive, reinstall the bolts.
You are aware that tilt uses the gear & Selectrim option if installed moves the forward motor mount? 2 totally separate systems.
If no Selectrim then the forward motor mount is loosened & manually adjusted for best overall trim. It's set it once & be done.